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.

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• 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.

Preface and Acknowledgments.

1 Introduction.

Part I: Pure Theory of International Trade.

2 Classical Theory of Comparative Advantage.

3 Comparative Advantage with Two Factors of Production.

4 Comparative Advantage and Factor Endowments: The Heckscher–Ohlin Theorem.

5 Imperfect Competition and Economies of Scale in Trade.

Part II: Protection of Domestic Industry and International Treaties.

6 The Partial Equilibrium Analysis of International Trade.

7 Trade Restrictions: Tariffs.

8 Nontariff Trade Barriers.

9 Domestic Support Policies and Trade.

10 Multilateral Trade Negotiations and US Trade Policy.

11 Economic Integration.

Part III: Foreign Exchange Markets.

12 Foreign Exchange Markets and the Exchange Rate.

13 Agricultural Trade and the Exchange Rate.

Part IV: Direct Foreign Investment, Economic Growth, and the Environment.

14 International Capital Movements and Multinational Corporations.

15 Agricultural Trade and Economic Development.

16 Trade and the Environment.

References.

Index

"In an increasingly globalized world, an understanding of the role of international trade is central to the study of agricultural economics and agribusiness. This book 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 overviews and summaries, key concepts, questions for review, and suggested readings." Management of Environmental Quality, Vol 16 No 5 Won W. Koo is Professor of Agricultural Economics and the Director of the Center for Agricultural Policy and Trade Studies at North Dakota State University. Dr. Koo has co-edited three volumes, including Agricultural Trade Under CUSTA (2002), and Agricultural Trade Policies in the New Millennium (2002). He has received an outstanding research award (Quality in Research Discovery) from the American Agricultural Economics Association and an Outstanding Published Research award from the Western Agricultural Economics Association.

Lynn Kennedy is the William H. Alexander Endowed Professor of Agricultural Economics and Agribusiness at Louisiana State University. Dr. Kennedy has co-edited three volumes, including Competition in Agriculture: The United States in the World Market (2000), and Agricultural Trade Policies in the New Millennium (2002).

An understanding of international trade is essential to the study of agricultural economics and agribusiness. International Trade and Agriculture examines the relationship between agriculture and the world of international trade; among the topics covered are trade theories and policies affecting trade flows, macroeconomics issues such as exchange rates and the balance of trade, foreign direct investment, and the impact of international trade on economic development and the environment. Each chapter features overviews and summaries, key concepts, questions and tasks for review, and suggested readings. With its international focus, agricultural perspective, and engaging pedagogy, this text offers an innovative and accessible approach to the study of agricultural trade.