agricultural economics

C. Ford Runge
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Back to top


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.
Back to top


agricultural economics; agricultural subsidies; agriculture and economic development; American Agricultural Economics Association; American Economic Association; American Farm Economics Association; Australian Agricultural Economics Society; Bellman's dynamic programming principle; Black, J. D.; Boulding, K.; Center for Agricultural Research and Development; Chayanov, A.; Chenery, H.; Clark, J. B.; cobweb theorem; common property resources; Commons, J. R.; computable general equilibrium models; corn–hog cycle; Cournot, A. A.; diminishing returns; Ely, R. T.; environmental economics; European Association of Agricultural Economists; Ezekiel, M.; factor mobility; fisheries; general equilibrium; Georgescu-Roegen, N.; Griliches, Z.; Heady, E.; health; hedonic prices; Hicks, J. R.; horizontal integration; human capital; index numbers; indicative planning; industrial organization; innovation; input–output analysis; Johnson, D. Gale; land; land grant model; Laur School (Switzerland); Leontief, W.; neoclassical economics; neoclassical synthesis; Nourse, E.; nutrition; optimization theory; Physiocracy; pollution; poverty alleviation; price stabilization; production economics; property rights; Quesnay, F.; recursive models; recursive programming; rent; Ricardo, D.; risk preferences; Samuelson, P. A.; Schultz, T. W.; Sering School (Germany); Serpieri School (Italy); Shackle, G. L. S.; Smith, A.; spatial economics; species loss; Stigler, G.; stochastic programming methods; subjective probability; supply controls; surplus production; Taylor, H. C.; technical change; Thünen, J. H. von; treadmill hypothesis; Veblen, T.; vertical integration; Warren, G.; Waugh, F.; Working, E.; Working, H.; Young, A.
Back to top


Back to top

How to cite this article

Ford Runge, C. "agricultural economics." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 17 December 2017 <> doi:10.1057/9780230226203.0021

Download Citation:

as RIS | as text | as CSV | as BibTex