HSMP 686 Introduction to Health Economics

Focuses on defining and measuring the performance of the health care sector, defining and explaining microeconomic concepts, and evaluating various policy initiatives to improve efficiency, equity, and technological progress in health care. Specific topics include description of the health care industry, production of health, measurement of health care price changes, theory of demand for health care, theory of production and cost, measurement of inputs and outputs, cost-benefit and cost-effectiveness analysis, and structure and functioning of markets. In addition, the role of government in a private economy in dealing with market failure is discussed, especially as it relates to the goal of assuring universal access to health care. Does not require any specific preparation in economics or mathematics, although graphical presentation of economic concepts is emphasized. Recommended corequisite: HSMP 574.