In an increasingly globalized world, an understanding of the role of international trade is central to the study of agricultural economics and agribusiness.

This text interweaves these two elements, explaining the theories and practices relevant to agricultural trade. Using real-life examples to explain theories and models, the text prepares readers to critically examine agricultural trade issues. In addition to its comprehensive coverage, each chapter features chapter overviews and summaries, key concepts, questions for review, and suggested readings.

• Explains the theories and practices relevant to agricultural trade.
• Uses real-life agricultural examples to convey theories and models.
• Offers an international perspective on an increasingly globalized market.
• Features extensive pedagogical material, including chapter overviews and summaries, key concepts, review questions, and suggested readings.

Won W. Koo is Professor of Agricultural Economics and the Director of the Center for Agricultural Policy and Trade Studies at North Dakota State University. Dr. Koo has co-edited three volumes, including Agricultural Trade Under CUSTA (2002), and Agricultural Trade Policies in the New Millennium (2002). He has received an outstanding research award (Quality in Research Discovery) from the American Agricultural Economics Association and an Outstanding Published Research award from the Western Agricultural Economics Association.

Lynn Kennedy is the William H. Alexander Endowed Professor of Agricultural Economics and Agribusiness at Louisiana State University. Dr. Kennedy has co-edited three volumes, including Competition in Agriculture: The United States in the World Market (2000), and Agricultural Trade Policies in the New Millennium (2002).