Introduction to the application of economics to decisions regarding the amount, organization, and distribution of healthcare services. Examine the structure, organization, activities, functions, and problems of healthcare from an economic perspective. Emphasis on management problems and policy issues in healthcare with regard to allocation of scarce resources.
- Explain the distinct characteristics of the healthcare system and how they affect the healthcare industry.
- Describe how uncertainty and asymmetric information affect demand for healthcare and lead to "incomplete" markets.
- Discuss the value of health and its implications for decisions allocating scarce resources.
- Describe basic economic concepts, such as supply, demand, marginal analysis, theory of capital, and cost-benefit analysis.
- Name economic tools and evaluation methods to improve decision making in healthcare.
- Interpret how the healthcare sector interacts with other economic sectors and the effects of these interactions.
- Describe economic tools used to assess healthcare financing and delivery models.
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