Course Description

Health economics studies how individuals and firms make decisions in the healthcare marketplace when healthcare resources are scarce. This course is designed to introduce you to the major theoretical issues and empirical findings in health economics. Students will examine the healthcare industry from an economic perspective, including demand, insurance, supply constraints, and the role of the U.S. government.

Note this is a 300-level course in economics. Aside from the assigned textbook, students will be assigned research articles and assignments will contain some exercises that require Microsoft Excel. 

Learning Objectives

At the end of the course, students should achieve the following capabilities:

• Understand health economics concepts and principles.

• Compare healthcare systems between the US and other countries.

• Analyze demand, supply, and elasticities in healthcare markets.

• Apply utility theory to healthcare decision-making.

• Evaluate health production and determinants.

• Examine the Grossman Model and demand for health.

• Understand health insurance concepts and effects.

• Analyze physician industry behavior models.

• Investigate the dynamics of the hospital industry.

• Explore the government's role in healthcare.

• Understand the economics of health behaviors in the context of addictive behaviors.

Prerequisite(s)

Principles of Microeconomics and comfort with Algebraic problem solving.