Agricultural Economics

Agricultural economics is an interdisciplinary field of study that applies economic principles, theories, and quantitative methods to the production, consumption, and distribution of food, feed, and fiber. It focuses on the economic aspects of the management, conservation, and growth of resources to supply food, feed, and fiber to the public. It also includes the study of the economic factors that affect land use, agricultural technology, production, production efficiency, and farm management and the effects of agricultural policy on agricultural production and environmental quality. Agricultural economics has emerged as an essential component in efforts to improve agricultural productivity, enhance food security and improve rural livelihoods. It can be used to inform public policy decisions related to food production and ecosystems, and to inform decisions by farmers, other agricultural producers, and consumers.