Livestock economics, or the application of economic methods to optimising the decisions made by livestock producers, grew to prominence around the turn of the 20th century. It focused on maximising the yield of livestocks while maintaining a good ecosystem. Throughout the last century, the discipline expanded and the current scope of the discipline is much broader.
Livestock economics today includes a variety of applied areas, having considerable overlap with conventional economics. It combines the technical aspects of livestock production with the business aspects of management, marketing and finance.