Published Jan 11, 2023
ECON 456
This course explores the theories and models developed to study the health and health-care sectors from an economic viewpoint. The course will focus on the economic tools necessary to evaluate the efficiency of the market for, and the efficient allocation of scarce resources in, health and health care. Examples of possible topics to be covered are the nature of the market, supply and demand of health care, asymmetries of information, externalities, principal-agent relationships, insurance, and cost-benefit analysis.
Prereq: ECON 301 or 393; one of ECON 321, 323, STAT 221, 231, 241; Honours students or Economics majors
ECON 643
This course introduces students to the role of economics in health care and health policy. It is meant to be a survey of major topics in health economics and an introduction to the ongoing debate over health care policy. Topics include the economic determinants of health and health policy, the market for medical care, the market for health insurance, and the role of the government in health care, and health care reform.
| Identify the different stakeholders in the health care system, their objectives and the constraints they face, using economic models |
| Describe the different sources of market failure in health and health care that justify governmental intervention |
| Critically evaluate the tradeoffs between different types of equity and efficiency in setting priorities in a health care system |
| Write concise reports that examine a health economics problem and formulate arguments based on economic theory to contribute to the scientific debate in the field |
| Using data and econometrics, analyze a health economics problem |
| Week | Date | Topic | Readings | Activities and Assignments | Due Date | Weight (%) |
|---|---|---|---|---|---|---|
| 1 | Jan 9-15 | Introduction | Ch 1 | |||
| 2 | Jan 16-22 | Efficiency & Equity | Ch 2 | Short Paper 1 | Jan 22 | 10% |
| 3 | Jan 23-29 | Demand & Production of Health | Ch 5 | |||
| 4 | Jan 30-Feb 5 | Health Determinants | Ch 6 | Short Paper 2 | Feb 5 | 10% |
| 5 | Feb 6-12 | Health care as an economic commodity | Ch 7 | Term Paper Proposal | Feb 8 | 15% |
| 6 | Feb 13-17 | Demand for Health Care | Ch 8 | |||
| READING WEEK | ||||||
| 7 | Feb 18-26 | |||||
| READING WEEK | ||||||
| 7 | Feb 27-Mar 5 | Insurance | Ch 9 & 10 | Short Paper 3 | Feb 27 | 10% |
| 8 | Mar 6-12 | Health Care Finance & Funding | Ch 11 & 12 | Short Paper 4
| Mar 12 | 10% |
| 9 | Mar 13-19 | MDs & Hospitals | Ch 13 & 14 | Short Paper 5
| Mar 19
| 10%
|
| 10 | Mar 20-26 | Pharmaceuticals | Ch 15 | |||
| 11 | Mar 27-Apr 2 | Comparative Health Systems | Short Paper 6 | Mar 30 | 10% | |
| 12 | Apr 3-Apr 10 | Long Term Care | Term Paper | Apr 10 | 35 % | |
All chapter references are from Hurley, J. E., Health Economics, 1st edition, McGraw-Hill Ryerson, 2010, 434 p.
| Title / Name | Notes / Comments | Required |
|---|---|---|
| Hurley, J. E. Health Economics, 1st edition, McGraw-Hill Ryerson, 2010, 434 p. | Yes |
This book is out of print but is available electronically for purchase (see below) - it is also on reserve at the Dana Porter Library (physical copy). While I will follow the general structure of Hurley, other readings are added; a complete reference list has been posted on Learn.
Link to purchase e-copy of Hurley: https://campusstore.mcmaster.ca/cgi-mcm/ws/txsub.pl?wsTERMG1=000&wsTERMDESC1=Ongoing&wsDEPTG1=HTH_ECONOMICS&wsDEPTDESC1=HTH+ECONOMICS+-+Health+Economics+-+Jeremiah+Hurley&wsCOURSEG1=ALL&wsSECTIONG1=ALL&programG1=Health+Economics&crit_cnt=1
| Component | Value |
|---|---|
| Bi-Weekly Written Assignments | 10% each, best 5 of 6 for a total of 50% |
| Term Paper Proposal | 15% |
| Term Paper | 35% |
All assignments, the term paper and the paper proposal will be handed in through dropboxes on D2L.
Late assignments will be subject to a 10% penalty per day that they are late, if there is no documented reason for being late. Acceptable types of documentation are typically a VIF, a letter from a medical or other professional or a declaration of absence on Quest. These guidelines are flexible: please email the instructor if needed. Students have one slip day to use as they please throughout the term. This slip day enables students to hand in an assignment (short paper, term paper or paper proposal) 24 hours late penalty free. When using the slip day, students are asked to document this in the comment box in the dropbox on D2L.
Text matching software (Turnitin) will be used to screen assignments in this course. This is being done to verify that use of all material and sources in assignments is documented. In the first week of the term, details will be provided about the arrangements for the use of Turnitin and alternatives in this course. See Administrative Policy below for more information and links.
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Turnitin.com: Text matching software (Turnitin®) may be used to screen assignments in this course. Turnitin® is used to verify that all materials and sources in assignments are documented. Students' submissions are stored on a U.S. server, therefore students must be given an alternative (e.g., scaffolded assignment or annotated bibliography), if they are concerned about their privacy and/or security. Students will be given due notice, in the first week of the term and/or at the time assignment details are provided, about arrangements and alternatives for the use of Turnitin in this course.
It is the responsibility of the student to notify the instructor if they, in the first week of term or at the time assignment details are provided, wish to submit alternate assignment.