Exam Prep Chapter 16 Lessons for Public Policy - Health Economics 7e Complete Test Bank by James W. Henderson. DOCX document preview.
Chapter 16: Lessons for Public Policy
This chapter is organized according to the ten key economic concepts that have served as guiding principles for our study of health economics. Some of the lessons are obvious, some not quite so obvious. There will be disagreement, since the propositions are not all based on positive analysis. The very nature of public policy discussions means that some are laced with normative implications.
Chapter Outline
a. Scarcity and choice
b. Opportunity cost
c. Marginal analysis
d. Self-interest
e. Markets and pricing
f. Supply and demand
g. Competition
h. Efficiency
i. Market failure
j. Comparative advantage
k. Final reflections
Chapter Objectives
- Analyze the economic lessons relating to health care delivery and finance.
- Understand that economics provides few solutions to medical care problems, only alternative approaches to the problems.
Teaching Suggestions
- If you’re like me it is going to be difficult to find class time to discuss this chapter. It is presented as a summary of the lessons that I have learned from my study of health economics. You will most likely not agree with all of them. They are meant solely to stimulate thought and discussion. Accept them in that spirit.