University of Toronto Press Applied Welfare Economics, Trade, and Agricultural Policy Analysis

Review Applied Welfare Economics, Trade, and Agricultural Policy Analysis is a refreshing treatment of agricultural and trade policy analysis through an economics lens. In rich detail, the book covers topics such as social cost-benefit analysis, externalities and nonmarket valuation, international trade policy, agricultural support policies, agricultural business risk management, and climate change This book is a must-read for students and policy makers interested in deepening their understanding of the application of welfare economics to agricultural and land-use policy. - Jill E. Hobbs, Professor of Agricultural and Resource Economics, University of SaskatchewanThis is an excellent textbook for applied welfare analysis written by one of the leading scholars in the field. G. Cornelis van Kooten summarizes the broad knowledge he has accumulated over his impressive career as a leading scholar in the field. The book is written accessibly and will be useful as a source for courses at the bachelor level, but also serve as an excellent reference for policy makers and other stakeholders that want to refresh some of their knowledge. - Justus Wesseler, Chair of Agricultural Economics and Rural Policy Group, Wageningen UniversityVan Kooten provides a tour de force, drawing on applied welfare analysis and political economy to comprehensively tackle farm and forestry policy and international trade issues, including inter-temporal climate change. Complex concepts are clearly explained and illustrated, always with an eye to intended effects and opportunity costs. This book will stimulate a generation of graduate students, while the key arguments are equally accessible to current policy practitioners. - David Orden, Professor of Agricultural and Applied Economics, Virginia Polytechnic Institute and State University Product Description This textbook integrates three related fields in economics, namely agricultural/forestry economics, environmental economics, and international trade, by foregrounding cost-benefit analysis as a significant policy tool. Exploring how welfare measures can be used in the analysis of agricultural, trade, and other economic policies, Applied Welfare Economics, Trade, and Agricultural Policy Analysis fills a gap in the literature on agricultural policy analysis by explaining the economic efficiency improvements and income transfers of various agricultural policy reforms in the United States, Canada, and the European Union. G. Cornelis van Kooten addresses methods of identifying and measuring economic surpluses (costs and benefits), the precautionary principle, identification of an appropriate discount rate, the importance of nonmarket values, and the role of agriculture in trade negotiations and climate change. Applied Welfare Economics, Trade, and Agricultural Policy Analysis draws on new research, brings attention to the existing literature, and includes review questions at the end of each chapter. The techniques developed in this text can be applied to the development and reform of agricultural policies in various regions. About the Author G. Cornelis Van Kooten is Canada Research Chair in Environmental Studies and Climate and a professor in the Department of Economics at the University of Victoria.