This text incorporates new information and devotes more time and space to the issues of agricultural industrialization and market structure likely to be faced by applied economists. Responds to a critical need to train students to work in the new world of agricultural markets Explicitly integrates empirical analysis of issues while maintaining the theoretical and practical issues of applied market analysis Places a high emphasis on market structure, imperfect competition, vertical coordination, contracting, etc., providing students with the necessary background to understand the new environment in which they will be expected to operate Includes some introduction to game theory with applications Contains practical examples, "key questions", exercises, and questions posed to students that can be used by instructors to stimulate classroom discussion.