International Trade and Agriculture

In an increasingly globalized world, an understanding of the role of international trade is central to the study of agricultural economics and agribusiness. This text interweaves these two elements, explaining the theories and practices relevant to agricultural trade. Using real-life examples to explain theories and models, the text prepares readers to critically examine agricultural trade issues. In addition to its comprehensive coverage, each chapter features chapter overviews and summaries, key concepts, questions for review, and suggested readings.Explains the theories and practices relevant to agricultural trade. Uses real-life agricultural examples to convey theories and models. Offers an international perspective on an increasingly globalized market. Features extensive pedagogical material, including chapter overviews and summaries, key concepts, review questions, and suggested readings.Content: Chapter 1 Introduction (pages 1–8): Chapter 2 Classical Theory of Comparative Advantage (pages 9–29): Chapter 3 Comparative Advantage with Two Factors of Production (pages 30–45): Chapter 4 Comparative Advantage and Factor Endowments: The Heckscher–Ohlin Theorem (pages 46–57): Chapter 5 Imperfect Competition and Economies of Scale in Trade (pages 58–75): Chapter 6 The Partial Equilibrium Analysis of International Trade (pages 77–94): Chapter 7 Trade Restrictions: Tariffs (pages 95–111): Chapter 8 Nontariff Trade Barriers (pages 112–135): Chapter 9 Domestic Support Policies and Trade (pages 136–151): Chapter 10 Multilateral Trade Negotiations and US Trade Policy (pages 152–166): Chapter 11 Economic Integration (pages 167–181): Chapter 12 Foreign Exchange Markets and the Exchange Rate (pages 183–209): Chapter 13 Agricultural Trade and the Exchange Rate (pages 210–224): Chapter 14 International Capital Movements and Multinational Corporations (pages 225–237): Chapter 15 Agricultural Trade and Economic Development (pages 238–254): Chapter 16 Trade and the Environment (pages 255–267):