What is Economics?
Economics is the study of what individuals, institutions, and economic systems do, or should do, as they deal with the problem of satisfying virtually unlimited wants with scarce resources. Economics deals with choices and optimization, typically embedded in a market system where the notion of equilibrium is essential and where prices play a crucial role. Economics provides a logical and ordered way of looking at a wide variety of issues, and the principles of economics are finding growing applicability in a number of fields. An understanding of economic concepts can provide substantial personal and social benefits.
Kling named to National Academy of Sciences
Catherine Kling, Charles F. Curtiss Distinguished Professor of Agriculture and Life Sciences, professor of economics and the director of the Center for Agricultural and Rural Development at Iowa State, is among 84 new members and 21 foreign associates from 15 countries named to the National Academy of Sciences.
Iowa State students part of global challenge to reduce food insecurity
Olivia Reicks and Trey Forsyth want to be part of the solution to end world hunger. It’s a daunting task considering that it will take a 70 percent increase in food production by 2050 to meet the demands of a growing global population, but that only serves as motivation for the two Iowa State University undergraduates.
New research from Iowa State University economist finds consumers willing to spend more for biotech potato products
“This is a complicated issue so it’s important for consumers to get information on how the technology works and its potential benefits.”
Iowa State University Part of Grant to Improve Ag Policy in Ghana
Iowa State University has joined a partnership to improve agricultural policy making, policy analysis and implementation in the African country of Ghana. The work is funded by the U.S. Agency for International Development (USAID) through its Feed the Future Agriculture Policy Support Project.