This book features the application of economic theory to agriculture and the food industry, using quantitative tools. The blend of theory and application is unique in detailing how demand and supply can be measured and how econometric simulation models may be constructed and evaluated. The volume focuses on forecasting and generating long-term projections as well as discussing the relatively unexplored area of stochastic modeling, which is critical in handling crop yield variability. Other topics covered in the text include agricultural policy analysis and futures/options markets. The role of time series models in improving structural equations and forecasting techniques provides a capstone for this book.
Agricultural Prices and Commodity Market Analysis
Publication Date: July 26th, 2005
361 pages| 7 in x 10 in
John N. Ferris is a Professor Emeritus in the Department of Agricultural Economics at Michigan State University. Ferris has received numerous awards for his extension programs, five "Premiere Forecaster Awards" from the American Agricultural Economics Association, and "Distinguished Service to Agriculture Award" from the Michigan Farm Bureau.