Introduction to Agricultural Economics, Sixth Edition, provides readers 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 readers 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 comprehension of the material covered.

Part One: Introduction

1.      What is Agricultural Economics?

2.      The U.S. Food and Fiber Industry

Part Two: Understanding Consumer Behavior

3.      Theory of Consumer Behavior

4.      Consumer Equilibrium and Market Demand

5.      Measurement and Interpretation of Elasticities

Part Three: Business Behavior and Market Equilibrium

6.      Introduction to Production and Resource Use

7.      Economics of Input and Product Substitution

8.      Market Equilibrium and Product Price: Perfect Competition

9.      Market Equilibrium and Product Price: Imperfect Competition

Part Four: Government in the Food and Fiber Industry

10.  Natural Resources, the Environment, and Agriculture

11.  Government Intervention in Agriculture

Part Five: Macroeconomics of Agriculture

12.  Product Markets and National Output

13.  Macroeconomic Policy Fundamentals

14.  Consequences of Business Fluctuations

15.  Macroeconomic Policy and Agriculture

Past Six: International Agricultural Trade

16.  Agricultural Trade and Exchange Rates

17.  Why Nations Trade

18.  Agricultural Trade Policy and Preferential Trading Arrangements

Glossary

Index