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INVESTIGATOR: Dey, M. M.; Engle, C.; Wui, P.; Xie, L.

PERFORMING INSTITUTION:
UNIV OF ARKANSAS
PINE BLUFF, ARKANSAS 71601

ESTABLISHING APPLIED ECONOMICS AND MARKETING LABORATORY (AEM-LAB) FACILITIES AT AQUACULTUREFISHERIES CENTER, UAPB

NON-TECHNICAL SUMMARY: The Aquaculture/Fisheries Center and the Department of Aquaculture and Fisheries, two jointly administered units of the UAPB, are recognized nationally and internationally as a leader in aquaculture/fisheries teaching, research, and extension programs. Administratively, research and extension activities occur within the structure of the Center, while academic responsibilities related to the undergraduate and graduate programs are administered through the academic department. Currently, the Department offers six lecture-based courses in aquaculture/fisheries economics and marketing: GAQF 5322 - Aquaculture Economics, GAQF 5323 - Aquaculture Marketing, GAQF 5324 - Quantitative Methods in Fisheries and Aquaculture Marketing, GAQF 5298 - Graduate Research Problems (Fisheries Econometrics), AQFI 4323 - Aquaculture Marketing, and AQFI 4322 - Aquaculture Economics. In addition, the Department of Agriculture and the Department of Business Administration offer a number of related courses. Most of these courses are lecture-based and are supported by a mini-lab with very limited capacity. The Department of Aquaculture and Fisheries started offering PhD from spring semester 2012. Economics and marketing issues are at the forefront of the aquaculture/fisheries industry in the U.S. Review of past research related to aquaculture and fisheries reveals a strong biology focus, leaving many economics and marketing questions unanswered. Given the expertise and long-term commitment, UAPB has been requested by the aquaculture/fisheries industry to address these issues. The proposed project will create a state-of-the-art AEM-Lab facility to improve the capacity of the Aquaculture/Fisheries Center of UAPB, to better serve the aquaculture/fisheries industry of Arkansas and beyond. It will re-shape aquaculture/fisheries economics and marketing curricula of UAPB to meet needs of changing rural economics by contributing to the growth of economically viable aquaculture businesses and enhancing sustainable management of aquatic resources. It will extend theory into practical applications and solutions to problems faced by stakeholders in the state and across the country. The expected outcomes and impacts of the project include: a) well trained next generation science professional with problem solving mindsets in the field of aquaculture/fisheries economics and marketing; and b) enhanced quality of teaching and research program on 'aquaculture/fisheries economics and marketing' at UAPB.

OBJECTIVES: The main goal of the project is to create a state-of-the-art "Applied Economics and Marketing Laboratory" (AEM-Lab) facility in the Aquaculture/Fisheries Center of the University of Arkansas at Pine Bluff (UAPB) to provide education for undergraduate and graduate students in the fields of aquaculture/fisheries economics and marketing, and other related fields. The specific objectives are to: 1) establish required physical facilities, and procure necessary equipment, software and databases; 2) compile various databases for making laboratory exercises/manuals and training modules on aquaculture/fisheries economics and marketing for students and stakeholders; 3) develop laboratory section of various aquaculture/fisheries economics and marketing courses; and 4) develop training modules and conduct trainings for students enrolled in Aquaculture/Fisheries Economics and Marketing and other related courses. The outputs expected from this project include: 1) fully operational AEM-Lab with state-of-the-art facilities; 2) manuals of laboratory sections of various aquaculture/fisheries economics and marketing courses; 3) databases for econometric and policy analysis; 4) user friendly planning and management tools; and 5) trained human resource in the fields of experimental economics, econometrics and policy analysis modeling, and statistical analysis.