According to Barr, the SES into which you were born and spent your childhood has more predictive power for health as an adult than does your SES category as an adult. True False
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- Describe Grossman's Improvement Model of Health. How does Grossman reconcile health as both something in demand and something produced by individuals?How will an aging population influence health policy makers in the 21st- century?How do economic evaluations in Healthcare inform policy and other decision makers
- Suppose consumers consume and gain utility from two types of goods and services – (1) health care and (2) all other goods & services. Using this information, derive the demand curve for health care.Find evidence that can explain how the difference in educational attainment influences the health of people who reside in that country. Here, you are identifying a determinant of health and at least one risk factor. Summarize what you found and justify the determinant of health and risk factor. (cite in text citation) 4 sentences or more.There is a consensus among health economists that socioeconomic status (SES) has a major impact on health, but health does not have a significant effect on SES. True False
- identify the four basic market structures, describe their role within health economics, describe the advantages and disadvantages of each market structure, and provide a specific health-care-related example of each market structure.You have been recruited as an expert in health economics to recommend what is the best therapy for a group of patients. In the image below you will find the decision tree showing the probabilities for different health states and outcomes for patients undergoing two possible treatments, No drug therapy and Drug therapy. Based on the expected cost, which therapy would you recommend as the least expensive? Explain how you arrived at your recommendation and show your calculations the space provided. No drug theraphy ? Drug theraphy ? HEALTH STATES PROBABILITIES Remain in Good Health 0.5 Develop disease A 0.2 Develop disease B 0.2 Die 0.1 Remain in Good Health 0.53 Develop disease A 0.16 Develop disease B 0.22 Die 0.09 OUTCOMES (Costs) $0 $400 $300 $200 SO $800 $500 $0While it may seem intuitively obvious that health expenditures will increase as a population age – older people, after all, are less healthy on average than younger people – in fact, several prominent health economists have argued that it is not ageing per se, but rather some of the correlates of an ageing population that cause health expenditures to rise as population ages. For instance, Getzen (1992) argues that, at least in part, rising health expenditures with an ageing population are due to the higher incomes and resources of the older population; health care is a normal good, so higher incomes lead to higher expenditures. In a similar manner, Zweifel et al. (1999) argue that the real problem with an ageing population, at least as far as health care costs are concerned, is that there will be more people who are within a couple of years of dying. Since health care expenditures rise sharply close to the end of life, it is this, rather than population ageing by itself, that leads to…
