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Introduction to Agricultural Economics, Sixth Edition, provides readers with a systematic introduction to the basic economic concepts and issues impacting the U.S. food and fiber industry and offers strong coverage of macroeconomic theory and international trade.
Teaching and Learning Experience:
Strong coverage of macroeconomics, the role of government, and international agricultural trade: The coverage of macroeconomics and agricultural programs and policies allows readers to further understand the domestic market economy.
Building block approach: Discusses individual consumer and producer decision-making, market equilibrium and economic welfare conditions, government intervention in agriculture, macroeconomic policy, and international trade.
Extensive chapter review: Each chapter contains an extensive list of questions designed to test comprehension of the material covered.
Table of contents
Part One: Introduction
1. What is Agricultural Economics?
2. The U.S. Food and Fiber Industry
Part Two: Understanding Consumer Behavior
3. Theory of Consumer Behavior
4. Consumer Equilibrium and Market Demand
5. Measurement and Interpretation of Elasticities
Part Three: Business Behavior and Market Equilibrium
6. Introduction to Production and Resource Use
7. Economics of Input and Product Substitution
8. Market Equilibrium and Product Price: Perfect Competition
9. Market Equilibrium and Product Price: Imperfect Competition
Part Four: Government in the Food and Fiber Industry
10. Natural Resources, the Environment, and Agriculture
11. Government Intervention in Agriculture
Part Five: Macroeconomics of Agriculture
12. Product Markets and National Output
13. Macroeconomic Policy Fundamentals
14. Consequences of Business Fluctuations
15. Macroeconomic Policy and Agriculture
Past Six: International Agricultural Trade
16. Agricultural Trade and Exchange Rates
17. Why Nations Trade
18. Agricultural Trade Policy and Preferential Trading Arrangements
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