The Health Economics field explores the determination of the prices and quantities of scarce resources devoted to health, and the combinations in which those resources are employed. Health care markets display several distinctive features, including uneven and unpredictable incidence of illness; external effects; asymmetric information between consumers, insurers and health care providers; widespread payment by "third party" insurers; restricted market entry; monopsonistic labor markets; and nonprofit motives of suppliers. Much of the creative work in the field arises from exploring the implications of these unique characteristics. Health economics draws heavily upon econometric methods to test how these characteristics affect the determination of prices and distribution of resources.
Courses
- PubH 6832. Economics of the Health Care System. 3 cr.
- PubH 8811. Research Studies in Healthcare. 3 cr.
- PubH 8821. Health Economics II. 3 cr.
Students should expect to complete all three of these courses, representing 9 credits, in preparation for the Field Examination.