Headline Competence (learning outcome):

• Define health economics and the key vocabulary used in this discipline.
• Analyze the applicability of economic principles to health and healthcare.
• Critically evaluate the distinctive properties of healthcare that differentiate it from other goods and services.
• Describe how health economics can help decide how health care resources should be allocated.

Assessment Criteria: 

• Understand what health economics is and what it is used for. 
• Understand the key vocabulary used in health economics.
• Relate the following issues to the setting in which you work:
• Relevance of health economics to health care, the expansion of the health care sector.
• Does economics apply to health and health care?
• Is health care different from other markets?
• How does health economics help you think about how health care resources should be allocated?
• What objectives should we set in determining priorities for allocation?

Approximate time required for the readings for this lesson (at 144 words/minute): 2 hours and 17 minutes.