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For courses in Introduction to Agricultural or Applied Economics   Introduction to Agricultural Economics 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.   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. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Introduction to Agricultural Economics, Global Edition

• Title


• Copyright


• Contents


• Part one Introduction


• 1 What Is Agricultural Economics?


• Scope of Economics


• Scarce Resources


• Making Choices


• Definition of Economics


• Microeconomics versus Macroeconomics


• Positive versus Normative Economics


• Alternative Economic Systems


• Definition of Agricultural Economics


• What Does an Agricultural Economist Do?


• Role at Microeconomic Level


• Role at Macroeconomic Level


• Marginal Analysis


• What Lies Ahead?


• Summary


• Key Terms


• Testing Your Economic Quotient


• References


• Graphical Analysis


• 2 The U.S. Food and Fiber Industry


• Indices


• What is the Food and Fiber Industry?


• Changing Complexion of Farming


• Physical Structure


• Specialization, Diversification, Organization, and Contracting


• Productivity


• Profitability


• Financial Structure


• Other Sectors in the Food and Fiber Industry


• Farm Input Suppliers


• Food Processors, Wholesalers, and Retailers


• Value-Added Process


• Fiber Manufacturers


• Shippers and Handlers


• Importance of Export Markets


• Summary


• Key Terms


• Testing Your Economic Quotient


• References


• Part two Understanding Consumer Behavior


• 3 Theory of Consumer Behavior


• Utility Theory


• Total Utility


• Marginal Utility


• Law of Diminishing Marginal Utility


• Indifference Curves


• Concept of Isoutility


• Marginal Rate of Substitution


• The Budget Constraint


• Summary