Published by Pearson (October 3, 2013) © 2014
H. Drummond | John Goodwin
Agricultural Economics, 3rd Edition, offers a broad view of the food system, emphasising the links between and among financial institutions, the macro economy, world markets, government programs, farms, agribusinesses, food marketing, and the environment. The text lays out the basic theory of microeconomics with numerous examples from the food and agricultural industries, while its coverage of macroeconomics emphasises real world applications rather than pure theory. Addressing many topics lightly instead of one or two topics in depth, the text allows flexibility for instructors to "skip around" topics.
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- PART I: FOUNDATIONS
- 1. The Food Industry
- 2. Introduction to Agricultural Economics
- 3. Introduction to Market Price Determination
- PART II: MICROECONOMICS
- 4. The Firm as a Production Unit
- 5. Costs and Optimal Output Levels
- 6. Supply, Market Adjustments, and Input Demands
- 7. Imperfect Competition and Government Regulation
- 8. The Theory of Consumer Behavior
- 9. The Concept of Elasticity
- PART III: MACROECONOMICS
- 10. Money and Financial Intermediaries
- 11. The Circular Flow of Income
- 12. Monetary Policy
- 13. Fiscal Policy
- 14. International Trade
- 15. Agricultural Policy
- PART IV: ADVANCED TOPICS
- 16. Food Marketing: From Stable to Table
- 17. Futures Markets
- 18. Financial Markets
- 19. Investment Analysis
- 20. Farm Service Sector
- 21. The Economics of Market Failure
- 22. The Malthusian Dilemma
- 23. Economic Development and Food