Introduction to agricultural economics

John B. Penson · Rulon D. Pope · Michael Lee Cook

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Agricultural economics and policies Economics of Agriculture and Food Markets Agricultural Economics and Policy

Abstract

I. INTRODUCTION. 1. What Is Agricultural Economics? 2. The U.S. Food and Fiber Industry. II. UNDERSTANDING CONSUMER BEHAVIOR. 3. Theory of Consumer Behavior. 4. Consumer Equilibrium and Market Demand. 5. Measurement and Interpretation of Elasticities. III. BUSINESS BEHAVIOR AND MARKET EQUILIBRIUM. 6. Assessing Business Performance. 7. Introduction to Production and Resource Use. 8. Economics of Input Substitution. 9. Economics of Product Substitution. 10. Market Equilibrium and Product Price: Perfect Competition. 11. Market Equilibrium and Product Price: Imperfect Competition. IV. GOVERNMENT IN THE FOOD AND FIBER INDUSTRY. 12. Government Intervention in Agriculture. 13. Supporting Farm Prices and Incomes. V. MACROECONOMICS OF AGRICULTURE. 14. Product Markets and National Output. 15. Consequences of Business Fluctuations. 16. Money, Money Markets, and Monetary Policy. 17. Fiscal Policy and Budget Deficits. 18. Macroeconomic Policy and Agriculture. VI. INTERNATIONAL AGRICULTURAL TRADE. 19. Agriculture and International Trade. 20. Exchange Rates and Agricultural Trade. 21. Why Nations Trade. 22. Agricultural Trade Policy. 23. Emerging Issues in Agricultural Trade: The Formation of Preferential Trading Arrangements.

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