Course Details
Subject {L-T-P / C} : HS1346 : Health Economics and Policy { 3-0-0 / 3}
Subject Nature : Theory
Coordinator : Prof. Jalandhar Pradhan
Syllabus
Unit 1: Economics and Health Economics The Relevance of Economics in Health Care Micro Economics Tools in Health Economics A Simple Model of Demand, Supply and Price Determination, Elasticity of Demand, Applying Elasticity of Demand to Health Policy The Economics of Consumer Choice.
Unit2: Production function of Health, Production and the possibilities for Substitution, Deriving the Cost function, Technical and Allocative Inefficiency, The Theory of Firm Behavior
Unit 3: Economic Efficiency and Cost Effectiveness in Health Care Cost-Benefit Analysis (CBA) Cost Effectiveness Analysis (CEA), Cost Utility Analysis (CUA), Methods for Calculating QALYs and DALYs, Sen’s Capability Approach and QALYs.
Unit 4: The Changing World of Health Care Finance, Private Health Insurance, Social Health Insurance, Theory of Risk and Insurance, Health Insurance and Market Failure, The case of Moral Hazard,
Unit 5: The Impact of Economic Evaluation on Decision Making in Health Care, Government involvement in health care market, Public Good, Externalities, Tax Policy, Lessons for Public Health Policy.
Course Objectives
- To understand basic concepts of health economics and enable them to take better decisions in the areas of Health Care.
Course Outcomes
After completing the course, students will have competence to apply economic concepts and models in the field of health care market.
Essential Reading
- David Wonderling, Reinhold Gruen and Nick Black., Introduction to Health Economics, Open University Press
- Sherman Folland, Allen Goodman and Miron Stano., Economics of Health and Health Care, Pearson/ Prentice Hall
Supplementary Reading
- Donaldson, C. and Gerard, K., Economics of Health Care Financing, Macmillan Press
- Phillips, C., Health Economics: An Introduction for Health Professionals, Blackwell Publishers.