exam questions.docx

5 Pages
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Department
Economics
Course Code
ECO440H5
Professor
Multiple Professors

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Description
CBA a method of economic evaluation where the monetary value of the resources consumed by a health intervention costs is compared with the monetary value of the outcomes benefits achieved by the intervention of resources costs VSof outcomes benefitsCBA is appropriate when a decision maker wants to know is a single intervention policy or a number of policies worth implementing are the benefits greater than the costsex Is it worth investing further resources into malaria control or building new primary schoolsdealing with size of the budget and comparing interventions across different sectors of the economyCEAmost commonly used form of economic evaluations in the health sectorthe value of the resources spent on intervention is compared with the quantity of health gained as a resultUnlike CBA which compares monetary costs with monetary outcomes CEA compares the cost of an intervention with an interventions outcomesex Economic evaluation to compare 2 diagnostic strategies for malaria treatmentthere is likely to be a common unit of effect ex Cost per cases detectedCUAbroader form of analysis than CEAusing CAU one can assess the quality for ex of life years gained and not just the curedof years lived in a particular health statethis is especially useful for interventions that may extend life but at the expense of side effectsor interventions that are focused on improving quality of lifeex Compare costs of coutcomes of 2 interventions active cancer and palliative caredifferent outcomes being examinedCMAvery narrowused to measure and compare input costs across alternatives where there is good evidence that outcomes are identicalex Costs of receiving MAGIC vaccination at home vs receiving MAGIC vaccination in a hospitalsame outcomesthe main forms of economic evaluation can be used to pursue two types of efficiency technical and allocative efficiencytechnical efficiency enables assessment of relative value for money of interventions with directly comparable outcomes Put differently technical efficiency is concerned with what is the least costly way to achieve a particular goalallocative efficiency judges whether the goal itself is worth pursuing If it is then getting the most overall utility for consumers
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