Resource Economics

Use economic principles and quantitative techniques to analyze decision-making among businesses, consumers, and governments. Learn skills in economic analysis, computers, data analysis, and communication. Graduates are prepared for well-paid and rewarding careers in financial management, sales and marketing, operations management, and government policy.

This major is also available as a minor.

Concentrations

Consumer and Family Economics: Focuses on the economic needs and functions of individuals and families. Students are prepared to mediate between the consumer and various financial and business institutions as financial counselors and consumer affairs specialists. This option also provides students with a strong foundation in social and behavioral sciences that will prepare them for careers in the areas of family financial management and consumer policy. Graduates may also become Certified Financial Planners.
Food Marketing Economics: Covers the economic markets and public policies involved in transforming agricultural commodities into value-added convenient food products. Today’s food supply varies from international seafood to locally grown organic vegetables, and from microwave meals to specially formulated products for senior citizens. Meanwhile, computer and scanning technologies have revolutionized management and marketing, making it possible for retailers to track consumer purchases and behavior in unprecedented ways. The procurement, processing, packaging, advertising, and retail merchandising of food provide abundant career opportunities. These include sales, managerial, and research positions with consulting and financial investment firms, food manufacturers, brokers, wholesalers, retailers, trade associations, government agencies, and non-profit firms serving the public.
Managerial Economics in Food and Resource Industries: Concentrates on the application of economic principles to business decision-making. Students develop expertise in accounting, finance, business strategies, and market demand analysis. Microeconomic models and case studies are used to demonstrate how an individual can make wise choices to operate effectively within a complex economy of millions of businesses linked by thousands of markets. Career opportunities include research, planning, marketing, and managerial positions in a wide range of firms, particularly in food and natural resource related industries. Recent graduates hold positions in food industry management, environmental consulting, energy demand analysis, market research, financial analysis, and strategic planning.
Natural Resource Economics: Prepares students to assist in public and private decisions about environmental and natural resource issues. Population and income growth are increasing the pressure on our resources, making allocation, management, and protection decisions among our top priorities. Water quality and supply, land use, acid rain, pesticide policy, recycling, waste disposal, and marine fisheries management are some of the issues studied. Students learn to apply decision-making tools such as benefit-cost, risk-benefit, and cost-effectiveness analyses. This training prepares students for careers in research, planning, education, and administration with federal, state, or community governments. An increasing number of opportunities are also developing with private business firms that provide services in various environmental and natural resource areas.

	18	faculty members
	37	students in class of 2006
	9:1	student to faculty ratio
	#8	department ranking in a UMass 2004-2006 satisfaction survey of graduating seniors
	95%	of juniors surveyed in 2006 were very satisfied or satisfied with their major