An Introduction to Economics, 3rd Edition: Concepts for Students of Agriculture and the Rural Sector

Paperback  320 pp  ISBN 9781845931278      £38.00

Since the first and second editions, agriculture has increasingly been viewed in a global context. International trade agreements have influenced domestic agriculture everywhere and many countries have seen growth in processing and the role of large-scale retailers. There is also evidence that the main rural land-users (farming and forestry) form only a part of the total economic activity going on in the countryside of developed countries. This third edition has been updated using examples that cover this wider range of circumstances. Other updates include the section on policy, which has been expanded to reflect that agriculture plays an increasing role in policies directed at the countryside in general, especially those aimed at conserving the environment. A new section has also been added to reflect the important advances in production technology.

The text is further enhanced by the inclusion of more exercises, a revised list of essay questions and updated suggested further reading.

Of interest to students in agriculture, agricultural economics and rural studies.

Contents

• What is Economics?
• Explaining the Behaviour of Individuals (Theory of Consumer Choice)
• Demand and Supply: The Price Mechanism in a Market Economy
• Markets and Competition
• Production Economics (Theory of the Firm)
• Factors of Production and their Reward (Theory of Distribution)
• Market Failure: Some Problems of Using the Market to Allocate Resources
• Macroeconomics - the Workings of the Whole Economy
• International Trade
• Government Policy for Agriculture and Rural Areas
• Suggested further reading
• Essay questions
• Suggested answers and explanations for the exercises at the ends of chapters