HESA 5341 Midterm: Midterm #1 Notes
4 Feb 2018
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Document Summary
Understanding cost and demand: why health economics, understanding costs, demand. Fundamental economic problem = scarcity: inability to satisfy all our wants. Three questions of allocation: who, what, how without making judgements. It describes what exists and how it works outcomes as good or bad, and may prescribe courses of action (policy economics) Positive economics seeks to understand behaviour and the operation of systems. Normative economics an approach to economics that evaluates economic. Microeconomics the study of individual economics (i. e. agents and individual. Macroeconomics the study of economic aggregates (i. e. national and. Health economics division of economics that focuses on evaluating scarcity in health care systems. It aims to identify problem areas in health systems and suggest solutions by evaluating all possible causes and solutions markets) international) There is more evidence to suggest that healthcare firms are inefficient: efficiency means that nothing is wasted, cost control is important.
