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This course provides a broad overview of the field of health economics and examines how standard concepts and methods in economics can be used to understand incentives and decision making in health-related transactions. This course aims to develop an understanding of the relevance of economic concepts to the health care sector; to describe the system of health care financing and delivery arrangements in the health care sector, and to impart an understanding of the role of economic factors in the development of public policy concerning health and health care.
Health. Production of Health. Demand for Health. Supply of Health. Market Failures in Health Care. Government Intervention and Market Failures. Health Insurance. The Pharmaceutical Industry. Environment and Health. Economic Evaluation. Cost – benefit Analysis. Economic Efficiency. Asymmetric Information. Moral Hazard. Principal Agent Theory. The Products of the Health Care System. The Demand for Health Care. Supply of Health Care Services. Hospitals and malpractice. Health Technology Assessment. International Comparisons.
Upon succesful completion of this course, a student will be able to
1. Use economic analysis to evaluate health economics issues.
2. Explain the size and scope of the health sector.
3. Utilise basic economic concepts and theories in health care.
4. Explain consumers’ optimal decision making and apply it in demand for health and health care.
5. Apply economic principles to the allocation of healthcare resources.
6. Demonstrate an understanding of the role of government in delivering and funding healthcare.
7. Evaluate the costs and benefits of healthcare interventions.
8. Distinguish between the different forms of economic evaluation and show an understanding of the advantages and disadvantages of the various approaches.
9. Critically review published economic evaluations of health technologies.