ABSTRACT
280Price policies, including price supports and price ceilings, are analyzed, with real-world examples highlighting the consequences of agricultural price policies in low-income and high-income nations. Welfare economics is used to understand how producer and consumer well-being changes in response to changes in policies, markets, and current events. Labor immigration is analyzed to find who gains and who loses from a nation accepting new workers into the workforce. Macroeconomics, the study of economy-wide features such as inflation and unemployment, is introduced. Monetary and fiscal policy are described, and their impacts on the agricultural sector detailed. Food security, hunger, global poverty, and economic development are outlined, and public goods are comprehensively explained.
