The globalization of goods, services and capital for agriculture is fundamental to the future of developing countries and has major implications for the fight against poverty and sustainability of the environment. In recent years, agriculture has once again returned to a position of centre stage as food price volatility has led countries to re-examine their development strategies.This new edition of the essential textbook in the field builds on the 2006 original and reflects the following developments: the increased impact of climate change issues affecting agricultural markets such as bio-fuels, the rise in farm prices and energy costs the move to higher valued agricultural products The book contains a wealth of real world case studies and is now accompanied by a website that includes powerpoint lectures, a photo bank and a large set of discussion and exam questions.The accompanying website is available to view at http: //ecagdev.agecon.vt.edu/About the Author: George W. Norton is Professor of Agricultural and Applied Economics at Virginia Polytechnic Institute and State University, Blacksburg, Virginia, USA.Jeffrey Alwang is Professor of Agricultural and Applied Economics at Virginia Polytechnic Institute and State University, Blacksburg, Virginia, USA.William A. Masters is Professor of Agricultural Economics at Purdue University, West Lafayette, Indiana, USA.