What it’s about:

Agricultural business deals with the management, marketing, and financing of food and fibre, “from the field to the table.” You study principles from agricultural sciences, economics, business, and statistics in preparation for a career in agribusiness, farming, natural resources, government, and related areas.

What the study of this major is like:

The agricultural business major prepares you to apply business and economic principles to the production and marketing of food and other agricultural products and to the management of natural resources. In order to make economically and environmentally sound decisions in the field, you need to understand accounting, economics, finance, labor, marketing, management, and public policy, as you analyse and deal with business and environmental risk; identify and respond to changes in the demand for food products and services; and improve profitability.

You learn principles associated with best practices for product development, profit maximization, and investment planning. You become familiar with accounting tools like balance sheet, income statements, and cash flow statements. You are taught to use quantitative tools such as statistics, accounting methods, computer programs, and investment analysis to solve management and planning problems.

You also learn the importance of risk management in an industry in which prices can zigzag (because of the uncertainties of worldwide markets) and production is at the mercy of weather, pests, and natural disasters. To thrive despite the risks, you must make smart use of futures markets, insurance, contracting, machinery maintenance, emerging technologies, and labour management. You also take supporting courses in data analysis, international studies, biological sciences, social sciences, and written and oral communication. A number of agribusinesses offer internships that give you a chance to get some real business experience.

Many majors are challenged by such requirements as calculus and courses in the humanities and social sciences. Third- and fourth-year team and individual projects-which can sometimes conflict with off-campus employment or other activities-require long hours of work. But problem-centered assignments help you build a solid foundation for future employment.

Leading agricultural colleges may emphasize agri-business, marketing, farm/ranch management, technology, natural resource economics, or statistics/econometrics, but most colleges offer courses in all these areas. If you are interested in other areas, such as international agricultural development or rural development, explore the catalogs or Web sites of various programs to see what they offer. If you want to combine an agribusiness degree with another field (for instance, wine grape production), examine course offerings and prerequisites in departments such as crop and soil sciences. The agricultural business major is also offered at the two-year associate degree level; the program is generally geared for transfer into a four-year agribusiness program.

Career options and trends:

Agribusiness manager or marketer*; farmer or rancher*; loan officer*; government agency employee; production supervisor; financial analyst; commodity merchandiser.

The long-term trend toward consolidation into fewer and larger farms is projected to continue, further reducing the number of jobs for farmers and ranchers but increasing employment opportunities for agricultural managers since owners of these farms rarely live on their land. Most graduates obtain jobs in business and industry. There is demand for managers and specialists trained in accounting, credit analysis, marketing, and international trade. Job prospects are generally good, especially if you are willing to relocate.

Source: CollegeBoard 2012 Book of Majors