Master of International Affairs   Master of Public Policy  

Economics and policy of healthcare

Healthcare is one of the largest and fastest growing sectors in the world. It is also one of the most complicated sectors to manage given the uncertainty of healthcare demand, the fiduciary nature of the doctor-patient relationship and frequent government intervention. This course presents key theoretical concepts in economics as they apply to healthcare markets and complements them with empirical findings from the health economics literature. In doing so, the course focuses on demand uncertainty, determinants of healthcare demand and demand for health insurance. It also pays close attention to the supply side and focuses on medical school capacity, service provision (hospitals and physicians) and the pharmaceutical industry. A significant portion of the course will be dedicated to market failures in healthcare by adopting both a public and a private industry lens.

At the end of the course, students with be able to:

  • Understand key economic concepts as they apply to healthcare.
  • Critically evaluate, compare and contrast health policies in developing countries, Europe and USA.
  • Discuss topics specific to certain sectors in healthcare such as pharmaceuticals and hospital services.
  • Characterise the differences between the public and private sector in healthcare and appraise the tension between the two.