An Introduction to Economics

This textbook provides a careful and clear explanation of universal economic principles that are illustrated primarily by examples drawn from agriculture, rural areas and the food industry.

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.