Growing Ideas & Producing Results

Agricultural Economics originally applied the principles of economics to the production of crops and livestock. It was a branch of economics that specifically dealt with land usage and maximizing the crop profit while maintaining a sustainable balance between productivity and the environment. However, throughout the 20th century the discipline has expanded with the times and the current scope has become much broader.​​

Agricultural economics now includes a variety of applied areas – often being referred to as ‘applied economics’ – and res​earch and education are conducted on a wide array of issues from development, trade, macroeconomic policy implications, production, and consumption to environmental and resource issues.

Since 1920, the Department of Agricultural Economics at Purdue University has been working to acquire and transmit new economic knowledge to the citizens of Indiana, the nation, and the world. Starting as the Department of Farm Management, in the early 1940s we chose a name more descriptive of our evolving mission – the Department of Agricultural Economics. In 1965, the Krannert Building was built and Agricultural Economics moved in. Over the past 50 years, technology and research have advanced and evolved while carrying on a strong tradition of excellent teaching, research and outreach.​

​Our Core values

The Department of Agricultural Economics consists of faculty and staff whose core values are to be: 

  • Engaged - helping solve real-world problems and having real-world impact; being present and working with stakeholders, our colleagues, and students; 
  • Collegial - being respectful of others’ talents, opinions, and backgrounds; appreciative of people’s comparative advantages; contributors to the common good; 
  • Entrepreneurial - creative in seeking new opportunities and new ways of conducting research, teaching, and knowledge dissemination; 
  • Of high integrity - honest brokers who are transparent, cognizant of tradeoffs, fairly presenting alternatives and consequences, and offering new solutions; 
  • Dedicated to long-term value of scholarship - using and developing analytical and quantitative tools, methods, and theories to produce cutting-edge knowledge to the benefit of future generations; 
  • Enthusiastic about students and impacting the lives of future leaders; and 
  • Rooted in the economics of agriculture and natural resources.