Advantages - For understanding sectoral economic policy - Agricultural market policy with a special focus on the EU. About the work: This volume builds on the foundations of economics and imparts fundamental knowledge for understanding sectoral economic policy using agricultural market policy as an example. In Part I of the book, the theoretical foundations for understanding price formation in product and factor markets are established. In addition to neoclassical theory, institutional economics plays a significant role. Part II of the book presents and evaluates agricultural market policy with a special focus on the EU. The evaluation framework goes beyond the usual welfare-theoretical analysis. The work is particularly helpful for students of economic policy due to its detailed assessment of individual agricultural market policy instruments. Target audience: Students of.