Agricultural Economics

This innovative book provides a broad view of the food system, with its emphasis on the links among financial institutions, the macro economy, world markets, government programs, farms, agribusinesses, food marketing, and the environment. It illustrates the six economic concepts that form the foundation of the economist's decision making process—including supply and demand, opportunity cost, diminishing returns, marginality, measuring costs and returns, and the externalities of transactions. A non-threatening presentation supplies readers with the application of agricultural economics to the real world. Chapter topics include Market Price Determination, Financial Markets, Money and Financial Intermediaries, Monetary Policy, The Circular Flow of Income, Fiscal Policy, International Trade, agricultural Policy, The Firm as a Production Unit, Imperfect Competition and Government Regulation, theory of Consumer Behavior, The Concept of Elasticity, Investment Analysis, and Economic Development and Food. For individuals interested in agricultural and environmental economics.