MSc in Agricultural Economics

1. Name of master's programme: Agricultural Economics

2. Level of qualification obtainable in the master's programme and designation of professional qualification on the diploma:

• level of qualification: master's degree (magister, master; abbreviated: MSc)
• qualification: Agricultural Economist  ​​​​

3. Field of study: Economics

4. Degrees accepted as prerequisites for admission to master's programmes 

4.1. The following can be taken into account with full credit value: in the field of Economics, the basic Business training programme; in the field of Agricultural Sciences, the basic training programmes in Agricultural Engineering with a focus on Economics and Rural Development, Agricultural Engineering with a focus on Information Technology and professional administration, and Agricultural Engineering with a focus on Rural Development.

4.2. The credits specified in section 9.3 may primarily be taken into account for: further basic training programmes in the field of Agricultural Sciences.

4.3. The following may also be taken into account when fulfilling the credits specified in Section 9.3: those bachelor's and master's degree programmes, as well as programmes specified in Act LXXX of 1993 on Higher Education, which are accepted by the credit transfer committee of the higher education institution based on a comparison of the knowledge serving as the basis for determining credits.

5. Duration of training in semesters: 4 semesters

6. Number of credits required to obtain a master's degree: 120 credits

• Specialisation: balanced (40-60 percent)
• Credit value assigned to the thesis: 15 credits
• Minimum credit value for elective courses: 6 credits

7. Classification of fields of study according to the uniform classification system for vocational training areas: 345/0413

8. The training objectives and professional competencies of the master's programme

The objective of the programme is to train Agricultural Economists who are capable of establishing and operating small and medium-sized enterprises in the domestic and international food economy. They will be able to comprehensively analyze farming, solve complex development tasks, and—taking into account the specific characteristics of the sector—manage and analyze related financial processes and commercial activities. After gaining practical experience, they will be qualified to perform middle and senior management tasks in various areas of the domestic and international food economy. They will be prepared to continue their studies in doctoral programmes.

8.1. Professional competencies to be acquired

8.1.1. In the Agricultural Economics programme, the economist

a) knowledge

• They have acquired detailed knowledge of economics and the concepts, laws, processes, and interrelationships of micro- and macro-level economic and agricultural organisation, and are familiar with the terminology of related fields. They are well acquainted with the vocabulary of Agricultural Economics and the characteristics of written and spoken language communication.
• Understands the structure and operation of economic organisations, their domestic and international networks, and the factors that influence and motivate them, with particular regard to the institutional environment. Is familiar with the general and specific characteristics of the food economy, its limitations, key development trends, and the links between agriculture and the economic and business spheres.
• You are familiar with the operational and developmental aspects of the agricultural business sector, as well as its administrative, accounting, and financial background. You have a comprehensive knowledge of the most important agricultural IT tools used in agriculture, as well as administrative, planning, analysis, and farm management software.
• You are familiar with the European integration process and the European Union's policies related to its activities, with particular regard to the Common Agricultural Policy (CAP), and you are aware of the system of domestic and EU-funded subsidies. You have a comprehensive knowledge of domestic and EU legislation related to the food economy.
• You are familiar with the European integration process and the European Union's policies related to its activities, with particular regard to the Common Agricultural Policy (CAP), and you are aware of the system of domestic and EU-funded subsidies. You have a comprehensive knowledge of domestic and EU legislation related to the food economy.
• Knows and understands the domestic and European Union administrative systems related to the functioning of the domestic food economy, as well as the processes taking place in their field of expertise (the biological, technical, logistical, commercial, food chain safety, and legal conditions of agricultural management, as well as its social embeddedness), and the relationships between them.
• Knows the specifics of rural and regional development (the role of agriculture in maintaining and developing rural areas) and the reasons for these specifics. Knows the relationship between human well-being and the agricultural sector, the cultural relations of the agricultural sector, its cross-cultural role and traditions. Knows the relationship between the rural economy, society, and the agricultural sector, the social necessity of community development, and the related environmental policy contexts.
• Is familiar with land use, ecological, and integrated production technologies, with particular emphasis on precision farming. Knows the professional and financial conditions and principles of the feasibility of innovative developments in sustainable food production in economic, social, and ecological terms. Knows the methodology of evaluating the financial resources necessary for the implementation of developments and investments and financial return analyses.
• Knows the modern, theoretically demanding mathematical-statistical, econometric, and modeling methods of problem recognition, formulation, and solution, as well as information gathering and processing, and their limitations. Knows and uses quantitative and qualitative analysis and software-supported methods of agricultural economic research. Knows the specific research methods and abstraction techniques of agricultural economics, the methods of developing the practical implications of theoretical issues, and the methods of planning, measuring, and analyzing sub-areas. Possesses the knowledge necessary to enter doctoral training in the field of agricultural economics.
• You are familiar with the essence, tools (cyber-physical manufacturing systems; robotics, IoT; AI; autonomous, self-organising production resources; intelligent information systems and real-time communication) and achievements of the technological revolution (Industry 4.0) that has begun in the field of agricultural production.
• You are aware of the labor market impacts of digitisation and automation, the positive and negative consequences of their widespread adoption, and you can interpret their potential opportunities and effects in manufacturing, supply chains, and the organisation of logistics and production processes.

b) abilities

• After acquiring practical knowledge and experience, they are capable of managing small, medium, and large agricultural enterprises and certain organisational units. They perform comprehensive economic functions in agricultural organisations, plan and manage complex management processes, and manage resources. With the knowledge and experience acquired, they are also able to manage and operate their own business in the agricultural sector. In their work, they cooperate with stakeholders in related fields.
• They are capable of organising, monitoring, analysing, and evaluating production processes in agriculture, as well as performing financial analysis, decision preparation, and decision-making tasks at financial institutions and companies. They are capable of working effectively in an international environment.
• Able to plan, manage, organise, coordinate, and evaluate activities as a leader in management processes, projects, and group tasks. Able to perform and manage innovation, planning, development, and research tasks in the field of food economics, as well as manage the practical application of research results.
• Able to perform high-quality analytical, decision-preparation, and decision-making activities related to the establishment, operation, and termination of businesses involved in the food economy. Able to participate in the development and implementation of business, operational, tactical, and strategic plans, both independently and as part of a team. Able to apply and use modern IT tools/software related to the operation of agriculture, and to communicate professionally and effectively in Hungarian and at least one foreign language, both verbally and in writing.
• Identifies specific professional problems using a versatile, interdisciplinary approach, explores and formulates the detailed theoretical and practical background necessary to solve them. Is able to recognise the negative or positive effects of individual economic measures on the environment.
• Able to analyse the problems and opportunities of a specific rural area in a complex manner and provide advice on possible directions for development, actively participating in regional planning tasks. Able to assess the impact of specific corporate, institutional, or community projects on the economic, social, and natural environment of the region. Suitable for improving the living conditions of people living in rural areas affected by certain areas of agribusiness, integrating available resources, developing the local economy, and creating sustainable development.
• Formulates independent new conclusions, original ideas, and solutions, and is capable of applying sophisticated analytical and modeling methods. Uses agricultural economics knowledge transfer techniques at a high level and processes Hungarian and foreign-language publication sources. Possesses knowledge of effective information research and processing. Prepares independent, scientific summaries and analyses of specific topics in agricultural economics. Is able to manage the practical application of research results.
• Possesses profession-specific digital skills and competencies related to the food economy. Uses the internet independently and safely, is able to select content found there, and is characterized by conscious media use. Is able to effectively apply digital technologies and techniques during their studies.
• Possesses basic knowledge of health promotion and sustainable development, including basic knowledge of environmental, accident, occupational, and consumer protection.

c) attitude

• Creativity in professional matters; good problem-recognition and problem-solving skills; analytical and synthesis skills; commitment to the principle of sustainability; good communication and cooperation skills; professional responsibility; desire for professional development; leadership skills.
• They have a developed professional identity and sense of vocation, which they demonstrate to both the professional community and wider society. They have a cultured, ethical, and objective intellectual attitude towards individuals and social issues, and in their work they pay attention to broader social, sectoral, regional, national, and European values. They understand and represent the key elements of active citizenship and education that determine the most important issues in the food economy.
• He/she takes a critical approach to his/her own work and that of his/her subordinates, and demonstrates innovative and proactive behavior in dealing with economic issues. He/she strives to develop his/her knowledge and working relationships, and encourages, assists, and supports his/her colleagues and subordinates in doing the same.
• Open and receptive to new developments in agriculture, economics, and production practices, and committed to the ethical rules and standards of scientific research. Open to the differing opinions of others, provided they are sufficiently supported by professional arguments, and communicates the general and specific issues of their profession in a credible manner.
• Identifies with the concept of lifelong learning and strives to use the latest developments in their field to further their own development. Embraces the principle that continuous professional socialisation and personal learning serve the public good.

d) autonomy and responsibility

• Considers comprehensive and specific agricultural economic issues with a high degree of independence and develops solutions based on available resources. Independently represents their professional opinion in decision-making situations. Independently selects and applies relevant problem-solving methods, performs economic analysis, decision preparation, and advisory tasks independently and as part of a team.
• Takes responsibility for their own work, the organisation they manage, and their employees. Independently identifies, plans, and organises their own and their subordinates' professional and general development, and takes responsibility for it. In order to achieve a given organisational goal, they mobilise their theoretical and practical knowledge and skills autonomously, in cooperation with other members of the group.
• Thinks responsibly about the environmental and social impacts of economic decisions, as well as the social and environmental responsibility of businesses operating in the food economy.

9. Features of the master's programme

9.1. Professional characteristics

The disciplines and fields of study that make up the programme and lead to professional qualification:

• economic and social sciences (economics, global economic and integration processes, environmental economics, economic and agricultural law; economic policy, research methodology, econometrics, economic statistics) 20-25 credits;
• business and applied economics (business economics, managerial economics, corporate finance, managerial accounting, economic analysis, controlling, agricultural marketing, project management, human resource management, strategic management, business communication, consumer protection) 30-35 credits;
• differentiated professional knowledge (agricultural and rural economics, public and specialised administration, economics of the agricultural and horticultural sectors, planning and analysis of agricultural businesses, marketing and commercial knowledge in the agricultural and food economy, agricultural information systems, supply chain management and market knowledge in the agricultural and food economy, sustainable technologies and quality assurance knowledge in the agricultural and food economy) 45-55 credits.

9.2. Requirements for professional practice

The professional internship consists of at least 60 hours of practical training in the areas of management and structure of agricultural organisations, organisation of production processes, and service management, as specified in the training curriculum.

9.3. Minimum requirements for admission to the master's degree programme for holders of the certificates specified in sections 4.2 and 4.3

The minimum number of credits required for admission to the master's programme is 60 credits in the following areas:

• 15 credits in methodological knowledge (mathematics, statistics, computer science);
• basic economics (micro- and macroeconomics, finance, international economics, environmental economics, economic theory, economic statistics, history of economic theory, economic modeling, economic policy, sectoral and functional economics, community economics, global and European economics, public policy) 10 credits;
• 10 credits in business studies (human resource management, business law, marketing, management and organization, value creation process management, decision theory and methodology, business ethics, strategic planning, business communication);
• 10 credits in social sciences (European Union, general and economic law, economic history, sociology, philosophy);
• 15 credits in the field of professional knowledge.

Admission to the master's programme requires that students have earned at least 30 credits in the listed areas based on their previous studies. Missing credits in the master's programme must be earned in accordance with the study and examination regulations of the higher education institution.