This study examined the annual output of Ph.D. degrees in agricultural economics and the types of employment taken by graduates in the field. Data were obtained from 35 institutions for the period 1985 through 1994, and for 7 of the 10 years, from two additional institutions. It was found that the 37 institutions accounted for a total of 1,745 Ph.D. degrees in agricultural economics between 1985 and 1994, with a slight downward trend in degrees produced between 1985 and 1992, but then noticeable increases in both 1993 and 1994. The ten institutions with the largest number of Ph.D. degrees accounted for 45 percent of total output. Fewer than one-third of the individuals who received Ph.D. degrees between 1985 and 1994 belonged to the American Agricultural Economics Association (AAEA) in 1995. Approximately 90 percent of degree recipients who were members of the AAEA in 1995 and residing in the United States were employed by an academic institution or government agency. The results indicate that the number of Ph.D. degrees in agricultural economics has not shown any dramatic growth or decline over the last couple of decades. (Contains 12 references.) (MDM)