Introduction to Agricultural Economics

For courses in Introduction to Agricultural or Applied Economics Introduction to Agricultural Economics, Sixth Edition, provides students 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. The Teaching and Learning Package includes an Instructor's Manual and PowerPoint slides. 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 students 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 student comprehension of the material covered.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 Glossary Index