Principles of Agricultural Economics

Principles of Agricultural Economics, now in its fourth edition, continues to showcase the power of economic principles to provide an explanation for and predict issues and current events within the food, agricultural, and agribusiness sectors. This key text introduces economic principles in a succinct and reader-friendly format, providing students and instructors with a clear, up-to-date, and straightforward method to learning how a market-based economy functions and how you can use simple economic principles for improved decision-making.

The field of agricultural economics has expanded to include a variety of topics and approaches, including macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development, and these are all introduced on this text. For this edition, new and enhanced material on agricultural policies, globalization, welfare analysis, and explanations of the role of government in agriculture and agribusiness is included. Readers may also take pleasure in an expanded range of case studies and text boxes, including real-world examples such as the Ukraine conflict, the Coronavirus pandemic, and immigration.

The work is supported by a companion site, including flash cards, study guides, PowerPoint presentations, a couple of choice questions, essay questions, and an instructor’s manual. This book is ideal for courses on agricultural economics, microeconomics, rural development, and environmental policy.