This textbook integrates financial economics and management in the area of agricultural finance. The presentation of financial economics discusses how the credit needs of farmer/borrowers are met by depositors through commercial banks. The financial management content presents methods used to make farm financial decisions including farm accounting, capital budgeting, and the analysis of risk. The textbook begins by developing the farm financial market focusing primarily on the market for debt. Next, the textbook presents an overview of accounting concepts important for the credit market. The accounting section provides a detailed discussion of the Farm Financial Standards Council’s suggestions for agricultural financial statements. Following the financial accounting, the book presents the use of ratio analysis applied to the farm firm. Next, the text describes capital budgeting followed by an introduction to risk analysis. Finally, the book presents the effect of debt decisions on the farm firm. In addition to the primary topics, the textbook includes a discussion of agricultural banking and monetary policy and an analysis of the choice of historical cost and market valued accounting methodologies on the farm debt decision.

An investigation into farming practices throughout a period of seismic change. WINNER of the British Agricultural History Society's 2022 Thirsk Prize WINNER of the 2022 CHOICE Outstanding Academic Title Award "This meticulously researched book gives a detailed and authoritative history of agricultural change in the second half of the twentieth century. The book skilfully weaves together the hitherto underexplored individual returns of the Farm Management Survey with oral histories of the farmers who enacted change on the ground to offer an incisive account of the complex technological, political and cultural developments which gave rise to some of the greatest changes in English farming history. It will stand as the key reference point for those with an interest in the history of agricultural change in Britain." Professor Mark Riley, University of Liverpool At the outbreak of the Second World War in 1939 British agriculture was largely powered by the muscles of men, women, and horses, and used mostly nineteenth-century technology to produce less than half of the country's temperate food. By 1985, less land and far fewer people were involved in farming, the power sources and technologies had been completely transformed, and the output of the country's agriculture had more than doubled. This is the story of the national farm, reflecting the efforts and experiences of 200,000 or so farmers and their families, together with the people they employed. But it is not the story of any individual one of them. We know too little about change at the individual farm level, although what happened varied considerably between farms and between different technologies. Based on an improbably-surviving archive of Farm Management Survey accounts, supported by oral histories from some of the farmers involved, this book explores the links between the production of new technologies, their transmission through knowledge networks, and their reception on individual farms. It contests the idea that rapid adoption of technology was inevitable, and reveals the unevenness, variability and complexity that lay beneath the smooth surface of the official statistics.

This comprehensive overview of local food systems explores alternative definitions of local food, estimates market size and reach, describes the characteristics of local consumers and producers, and examines early indications of the economic and health impacts of local food systems. Defining ¿local¿ based on marketing arrangements, such as farmers selling directly to consumers at regional farmers¿ markets or to schools, is well recognized. Statistics suggest that local food markets account for a small, but growing, share of U.S. agricultural production. For smaller farms, direct marketing to consumers accounts for a higher percentage of their sales than for larger farms. Charts and tables.

This book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, natural resources and other sectors. The result is an agricultural economics textbook that provides students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions, and how to use simple economic principles for improved decision making. While the primary focus of the book is on microeconomic aspects, agricultural economics has expanded over recent decades to include issues of macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development. Hence, these topics are also provided with significant coverage.