Economics 4350

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Prerequisites:

A knowledge of microeconomic theory is expected prior to enrollment in this course. This may be fulfilled by taking Economics 1305 or 2306.

Goals and Objectives:

The primary goals of this course are to enable the student to:

1. Recognize the relevance of economics to health and medical care and apply economic principles to related health issues.

2. Understand the mechanisms of the health care delivery system within the broad social, political, and economic contexts.

3. Explore the changing nature of health and medical care and the implications for medical practice, medical education and research, and health policy.

4. Analyze public policy in health and medical care from an economic perspective.

To accomplish these goals, the student should be able to:

 

1.1 Explain the usefulness of economics in understanding matters of life, death, disability, and suffering.

1.2 Identify and describe the various factors that influence the demand for medical care.

1.3 Summarize the major arguments concerning how practitioners influence the supply of medical care.

 

2.1 Explain the observed patterns in the quantity and price of medical care.

2.2 Identify and analyze the relevant issues in health care financing and delivery.

2.3 Describe the implications of an aging population on the market for medical services.

 

3.1 Identify the factors that influence the supply of physicians and demonstrate how they affect the price and quantity of medical care.

3.2 Outline the major issues determining the supply and demand for medical manpower: nurses, technicians, dentists, pharmacists.

3.3 Explain how the increase in medical malpractice suits has impacted on the market for medical services.

3.4 Explain the role of medical research and medical technology in the quantity and quality of medical care and the price paid for it.

 

4.1 Identify and analyze the reasons for the increasing popularity of national health insurance worldwide.

4.2 Explain and analyze the roles of government, family, and religion in health care.

4.3 Explain the relation between medical care for the elderly and other aspects of aging.

4.4 Summarize the economic, political, and moral implications of recent changes in reimbursement schemes (PPOs and DRGs) on health and the quality and accessibility of medical care.

4.5 Describe and critique the quality and quantity of uncompensated medical care.

4.6 Evaluate the efficacy of alternative delivery systems, primarily HMOs, in containing medical costs.

 

Required Texts:

James W. Henderson, The Economics of Medical Care: Lessons for Public Policy, South-Western College Publishing, forthcoming.

Course Requirements:

There will be two mid-term exams and a comprehensive final exam. The two mid-term exams will count 25 percent each toward the final course grade. The final will count 50 percent. A research paper may be written and used to replace the lowest mid-term exam grade (all tests must be taken, papers will not offset zeros). Students wishing to consider a research paper will be provided with the details.

Course Outline and Readings:

All readings are required. A schedule of class discussions and associated readings is attached. The serious student will undertake all readings prior to the corresponding class discussion. This is imperative for meaningful class discussions.

Date	Topic of discussion	Reading
Jan 14	Introduction: goals
16	The medical care cost problem	1
21	Using economics to study medical care issues	2
23	Supply and demand: Graphs and statistics	appendices
28	Analyzing medical care markets	3
30	Demand for health and medical care	4
Feb 4	Impact of changing demographics	5
6	Market for physicians' services	6
11	Market for other health care personnel	6
13	Market for hospital services	7
18	Test 1	1-7
20	The theory of private insurance	8
25	Medical care for the uninsured	8
27	The managed care revolution	9
Mar 4	Cost-savings and managed care	9
6	Issues in medical malpractice	10
11	Spring break
13	Spring break
18	Social issues and their impact on medical outcomes	11
20	Medical technology	12
25	The pharmaceutical industry	12
27	Government's role in medical care (Test 2 distributed; ch 8-14)	13
Apr 1	Strategies to control costs	14
3	Failure of current policy (Test 2 due)	14
8	International comparisons	15
10	Lessons from Europe	15
15	The politics of reform	16
17	Diadelosa
22	The goals of reform (Final exam questions distributed)	17
24	U.S. policy alternatives	17
29	Recent developments in reform (Term papers due)	TBA
May 1	Where do we go from here?	TBA
May 9	Final Exam-8 am	1-17

TBA = Reading to be announced

Attendance Policy:

The university policy regarding class attendance applies to this course:

To earn credit in a course the student must...attend at least 75% of all class meetings. Any University-related activity necessitating an absence from class shall count as an absence when determining whether a student has attended the required 75% of class meetings.

Important dates to remember:

February 7

Courses dropped after this day recorded as W or WF, according to the report of the professor

March 7

Courses dropped after this date will be recorded as failed.

Office: Cashion Academic Center--Room 302.5

Hours: 2-4 Tuesday, Thursday, and Friday

Phone: 710-4139

No office hours on Monday or Wednesday.

All other times by appointment only.