ECON 233 - Health Economics

The field of health economics applies microeconomic theory to the study of health care, drawing on concepts from public, labor, and development economics and industrial orgainzation. The healthcare industry is one of the largest in the US, representing nearly 18% of the GDP and comprising a large share of the typical household budget. The role of government regulation in healthcare is significant and unique to the industry. This class will review topics relevant to the healthcare and health insurance industries in the US, other developed countries, and developing nations including determinants of demand, pricing of healthcare services, the role of insurance and its reforms, incentives and hurdles for health technology innovations, and the role of health in economic development. We will also examine the traditional methods for evaluating healthcare services including cost benefit and cost effectiveness analysis. This course counts as a Group E elective. Prerequisite(s): ECON 119. C- or higher required for all prerequisites. Every year. (4 Credits)