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Known for its strong coverage of macroeconomic theory and international trade, Introduction to Agricultural Economics provides students with a systematic introduction to the basic economic concepts and issues impacting the U.S. food and fiber industry. Using a building block approach, the authors discuss individual consumer and producer decision-making, market equilibrium and economic welfare conditions, government intervention in agriculture, macroeconomic policy and international trade. This new edition continues to take a broad perspective-providing examples not only from the farm, but also throughout the entire food and fiber industry-and features a new chapter on natural resources, an updated design, and margin notes throughout.
Table of Contents
What Is Agricultural Economics?
The U.S. Food and Fiber Industry
Understanding Consumer Behavior
Theory of Consumer Behavior
Consumer Equilibrium and Market Demand
Measurement and Interpretation of Elasticities
Business Behavior and Market Equilibrium
Introduction to Production and Resource Use
Economics of Input and Product Substitution
Market Equilibrium and Product Price: Perfect Competition
Market Equilibrium and Product Price: Imperfect Competition
Government in the Food and Fiber Industry
Natural Resources, the Environment and Agriculture
Government Intervention in Agriculture
Macroeconomics of Agriculture
Product Markets and National Output
Macroeconomic Policy Fundamentals
Consequences of Business Fluctuations
Macroeconomic Policy and Agriculture
International Agricultural Trade
Agriculture and International Trade
Exchange Rates and Agricultural Trade
Why Nations Trade
Agricultural Trade Policy and Preferred Trading Arrangements
Table of Contents provided by Publisher. All Rights Reserved.