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Health Economics

Module description

This unit introduces you to key conceptual frameworks and principles of health economics. It examines how both the UK and international health care systems are financed and funded. The unit will examine the core theories of supply and demand in health care, including the importance of information (and information asymmetry), the critical role of insurance, hospital financing and delivery, long-term care organisation, pay-for-performance schemes, private/public mix in finance and provision of health care, and economic epidemiology.

Module aims - intentions of the module

This module aims to equip you with fundamental health economics and public health knowledge, which is essential for working in the government and health related industries, such as health care providers.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Discuss health economics and public health
• 2. Explain the key economic trade-offs implied in different healthcare allocation problems;
• 3. Discuss the economic reasons behind trends in health care system development
• 4. Explain the way different health systems address these fundamental trade-offs.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 5. Apply economic and statistical tools to concrete health economics issues that arise in the work place;
• 6. Critically evaluate a research design used to identify the effects of a health policy
• 7. Develop policy recommendations to different types of market failure.

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 8. Present information in a variety of formats

Syllabus plan

• Essential microeconomics toolkit
• Health economics: why is it relevant? What is so special about health?
• Demand for health care
• Demand for health: the Grossman model
• Socioeconomic disparities in health
• Population aging and its impact on health care cost
• The labour market for physicians
• The hospital industry
• Economic epidemiology
• Healthy lifestyle: obesity and its consequences
• Health insurance markets

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%

Indicative learning resources - Basic reading

• Zwiefel, P., Breyer, F., & Kifmann, M. (2009). Health Economics (2^nd ed.). Springer.
• Sloan, P., & Hsieh, C-R. (2017). Health Economics (2^nd ed.). The MIT Press.
• Bhattacharya, J., Hyde, T., & Tu, P. (2013). Health Economics. Palgrave Macmillan.
• Olsen, J. A. (2017). Principles in Health Economics and Policy. Oxford University Press.

Key words search

Health Economics, Public Health, Health Policy