Agricultural Economics: Pearson New International Edition

Series
Pearson
Author
H. Evan Drummond / John W. Goodwin  
Publisher
Pearson
Cover
Softcover
Edition
3
Language
English
Total pages
432
Pub.-date
November 2013
ISBN13
9781292039282
ISBN
1292039280
Related Titles


Product detail

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9781292039282
Agricultural Economics: Pearson New International Edition
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Description

For courses in Introductory Agricultural Economics.

 

Agricultural Economics, Third Edition, offers a broad view of the food system, emphasizing 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 emphasizes 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.

Features

For courses in Introductory Agricultural Economics.

 

Agricultural Economics, Third Edition, offers a broad view of the food system, emphasizing 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 emphasizes 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.

 

Hallmark Features:

 

Chapters on advanced topics deal with real world issues and applications:

  • The text includes coverage on such topics as food marketing, financial markets, futures markets, environmental economics (market failure), and economic development issues in poor countries. 

Chapter pedagogy helps students study more effectively:

  • Chapter Summary, Key Terms, Problems and Discussion Questions, and (new to this edition) Sources of Information provide students with useful review and study tools.
  • Key Terms are defined in margin boxes for students to easily locate.
  • Warning boxes point out mistakes frequently made by students.

New to this Edition

New organization makes the third edition a more effective learning tool for instructors and students:

  • Chapters have been substantially reorganized into four sections: Foundations, Microeconomics, Macroeconomics, and Advanced Topics.
  • Micro now precedes macro–a change that many reviewers suggested. 

New content updates this text with the latest on agribusiness and current economic issues:

  • Material has been added to several chapters dealing with the 2008-09 financial crises in the US.
  • A section of futures options has been added, showing how options can be used as a risk management tool.
  • The chapter on agricultural policy has been completely revamped to cover the 2007 farm bill.
  • Economic data has been updated as much as possible to 2007 or 2008.
  • Newly added at the end of most chapters, Sources of Information offers students Web addresses to explore topics covered in the chapter in more depth.
  • The test bank in the Instructor’s Manual has been substantially edited to remove redundant questions.

Table of Contents

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

 

PAT 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