what is agricultural economics?
how does this differ from regular economics?
Last Updated: Oct 01, 2009 | 85 Views
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- Agricultural Economics
Agricultural economics arose in the late 19th century, combined the theory of the firm with marketing and organization theory, and developed throughout the 20th century largely as an empirical branch of general economics. The discipline was closely linked to empirical applications of mathematical statistics and made early and significant contributions to econometric methods. From the 1960s, as agricultural sectors in the OECD countries contracted, agricultural economists were drawn to the development problems of poor countries, to the trade and macroeconomic policy implications of agriculture in richer countries, and to a variety of issues in production, consumption, environmental and resource economics.
[Source: New Palgrave Dictionary Online]