Unit 1462: Health Economics

1. Introduction to Health Economics

• Definition and scope of health economics
• Importance of economics in healthcare decision-making
• Economic factors affecting healthcare systems
• Key principles: scarcity, opportunity cost, efficiency, equity

2. Supply and Demand in Healthcare

• Concepts of supply and demand in healthcare markets
• Determinants of demand for healthcare services
• Determinants of supply: providers, technology, regulations
• Price elasticity of demand and supply in healthcare
• Impact of supply and demand on pricing, accessibility, and quality
• Market failures specific to healthcare

3. Health Insurance and Financing

• Overview of health insurance: purpose and types
• Models of health insurance: private, public, social insurance
• Role of insurance in risk pooling and financial protection
• Healthcare financing mechanisms: out-of-pocket, taxation, insurance premiums
• Implications of different financing on healthcare delivery and patient outcomes

4. Cost-Benefit Analysis in Health Economics

• Principles of cost-benefit analysis (CBA)
• Identifying and measuring costs and benefits
• Discounting and time preference in CBA
• Application of CBA to healthcare policies and interventions
• Limitations and ethical considerations in CBA

5. Economic Evaluation of Healthcare Interventions

• Overview of economic evaluation methods
• Cost-effectiveness analysis (CEA): concepts and metrics (e.g., cost per life-year gained)
• Cost-utility analysis (CUA): quality-adjusted life years (QALYs) and disability-adjusted life years (DALYs)
• Comparing interventions using economic evaluation
• Case studies of economic evaluations in healthcare

6. Healthcare Market Structure

• Types of market structures: monopoly, oligopoly, monopolistic competition, perfect competition
• Characteristics of healthcare markets fitting these structures
• Implications of market structure on pricing, competition, and efficiency
• Role of healthcare providers, pharmaceutical companies, and insurers in market dynamics

7. Health Policy and Regulation

• Role of government in healthcare markets
• Policy tools: regulation, subsidies, taxation, public provision
• Addressing market failures through policy interventions
• Policies to promote access, quality, and cost containment
• Case examples of health policy frameworks

8. Healthcare Equity and Access

• Economic disparities in healthcare access and outcomes
• Determinants of health disparities: socioeconomic status, geography, ethnicity
• Measuring equity in healthcare
• Policy interventions to promote equity and reduce disparities

9. Pharmaceutical Economics

• Structure of pharmaceutical markets
• Drug pricing mechanisms and factors influencing prices
• Costs and challenges of pharmaceutical research and development
• Market competition and patent systems
• Policies to balance affordability and innovation

10. Global Health Economics

• Economic dimensions of global health challenges
• Healthcare financing in low- and middle-income countries
• Role of international organizations (WHO, World Bank, NGOs) in global health
• Economic approaches to infectious disease control and prevention
• Strategies to promote health equity worldwide