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1: Introduction to Economics

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    • 1.1: Introduction to the Study of Economics
      Food and agricultural markets are in the news and on social media every day. Numerous fascinating and complex issues are the subject of this course: food prices, food safety, diet and nutrition, agricultural policy, globalization, immigration, agricultural labor markets, obesity, use of antibiotics and hormones in meat production, hog confinement, and many more. As we work through the course material this semester, please find examples of the economics of food and agriculture in the news.
    • 1.2: Supply and Demand
      The study of markets is a powerful, informative, and useful method for understanding the world around us, and interpreting economic events. The use of supply and demand allows us to understand how the world works, how changes in economic conditions affect prices and production, and how government policies and programs affect prices, producers, and consumers. A huge number of diverse and interesting issues can be usefully analyzed using supply and demand.
    • 1.3: Markets - Supply and Demand
      The market mechanism is a useful and powerful analytical tool. The market model can be used to explain and forecast movements in prices and quantities of goods and services. The market impacts of current events, government programs and policies, and technological changes can all be evaluated and understood using supply and demand analysis. Markets are the foundation of all economics!
    • 1.4: Welfare Economics - Consumer and Producer Surplus
    • 1.5: The Motivation for and Consequences of Free Trade

    Thumbnail: Charging Bull, a bronze statue by Arturo Di Modica at Bowling Green, Manhattan, New York City. Image used wtih permission (CC BY-SA 2.0; Aseba).

    This page titled 1: Introduction to Economics is shared under a CC BY-NC license and was authored, remixed, and/or curated by Andrew Barkley (New Prairie Press/Kansas State University Libraries) .

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