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Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
The relationship between education and health was expanded in the model by Isaac Ehrlich. [5] Regarding the relationship between education and medical care demand, one important question is whether the marginal efficiency of capital elasticity with respect to education is less than or greater than one.
Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect. Typically the CEA is expressed in terms of a ratio where the denominator is a gain in health from a measure (years of life, premature births averted, sight-years gained) and the numerator is the cost associated ...
[1] [2] It is a sub-discipline of health economics. A pharmacoeconomic study evaluates the cost (expressed in monetary terms) and effects (expressed in terms of monetary value, efficacy or enhanced quality of life) of a pharmaceutical product. Pharmacoeconomic studies serve to guide optimal healthcare resource allocation, in a standardized and ...
In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1] Applications for these preferences include finance, health, climate change.
Michael Grossman (born 1942) is an American health economist and economics professor emeritus at the City University of New York Graduate Center (CUNY). He directed the Health Economics Program at the National Bureau of Economic Research (NBER) from 1972 to 2020. Grossman was an early contributor to New Home Economics (NHE).
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]
Health and wealth; Health care; Health care finance in the United States; Health care prices in the United States; Health care ratings; Health care rationing; Healthcare reform debate in the United States; Comparison of the healthcare systems in Canada and the United States; Health crisis; Health Disparities Center; Health economics (Germany ...