Economics of Health

Module code: EC3082

Healthcare and how the government manages the health industry has always been a subject of debate across different sectors. The healthcare available to citizens is very much dependent on what socio-economic demographic an individual is part of. Higher expectations of quality of healthcare, ageing populations and the inequalities in income and health have put healthcare under great scrutiny.

This module will take a look at how economics can be used to understand the resources that are available and the relationships between health status and the labour market on socio-economic status outcomes. Each topic introduces the relevant theoretical models and their practical application by analysing real-world examples:

• Demand for healthcare: how does our demand for healthcare change depending on the price of medical treatment?
• Demand for health: how do our decisions in life affect our own health?
• Supply for healthcare: why do we have persistent shortages of medical staff?
• Funding healthcare system: how can we fund our healthcare system in a sustainable manner?  What are the pros and cons of funding the system through health insurance or tax contributions?  This is an important topic as we consider how to fund the NHS in the future.