Overview
Agricultural economics is a branch of economics that investigates the economic impacts of production and consumption of food and other crops. It also analyzes the allocation and use of resources across different sectors of the agricultural industry. Agricultural economics plays a major role in informing policy makers and industry stakeholders on how to improve agricultural productivity, lower production costs and enhance the economic wellbeing of rural communities. Agricultural economics also studies the impact of agricultural initiatives on global food security, sustainability and the environment. By providing scientific analysis and evidence, agricultural economics is a primary tool in helping governments and organizations make effective decisions related to agricultural production, trade and food security.