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.
This is a 2nd year elective with a Policy Analysis concentration. It can be taken in place of C8 Economics II, for students who completed GRAD-C7adv Advanced Economics during the Fall 2019 semester. If you took GRAD-C7 Economics I Intro and received a recommendation, you may also take this elective in place of C8 Economics II. Please note that in each course we have designated spots for both 1st year students and 2nd year students. As with all electives, 2nd year students with the respective area of concentration will get preference within the designated spots for 2nd year students.