Introduction to Agricultural Economics

by Penson, John B., Jr.; Capps, Oral T., Jr.; Rosson, C. Parr, III; Woodward, Richard T.

• ISBN13: 9780131592483
• ISBN10: 0131592483
• Edition: 5th
• Format: Paperback
• Copyright: 2009-06-22
• Publisher: Prentice Hall

Summary

Known for its strong coverage of macroeconomic theory and international trade, this book provides readers 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 provides examples not only from the farm, but also throughout the entire food and fiber industry and features updated chapters on natural resources and the governmentrs"s role in agriculture. Some additional new features include: Enhanced coverage of natural resource issues Revised chapter on the governmentrs"s role in agriculture. Expanded and Updated! Testing Your Economic quotient sections Anyone interested in agriculture

Table of Contents

Introduction

What is Agricultural Economics?

The US 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 Equilibirium and Product Price: Perfect Competition

Market Equilibirium 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 Agriculture Trade

Agriculture and International Trade

Exchange Rates and Agricultural Trade

Why Nations Trade

Agricultural Trade Policy and Preferential Trading Arrangements

Glossary

Index

Table of Contents provided by Publisher. All Rights Reserved.