John Penson / Oral Capps / Richard Woodward
Introduction to Agricultural Economics presents students with a systematic introduction to essential economic concepts and issues within agriculture, reflecting on how microeconomic and macroeconomic forces shape production, marketing, and consumption of food and fiber products. The scope of the book extends beyond traditional farm management to incorporate a wider spectrum of activities that influence approximately 12-15% of the nation’s output.The book intertwines micro, macro, and international trade aspects to offer a cohesive understanding of agricultural economics. Topics covered include consumer and producer behavior, market equilibria, agricultural policy, environmental concerns, and international trade. It outlines the interplay between government intervention in agriculture, provides insight into macroeconomic policy and its effects on agriculture, and examines the dynamic nature of agricultural trade and policy.Introduction to Agricultural Economics is designed for students studying agricultural science, economics, and business. It serves as a comprehensive learning tool for courses that range from an introduction to agricultural economics to specialized subjects in international agricultural trade and policy at both undergraduate and graduate levels.
