Health Economics

Universidad Carlos III de Madrid

Course Description

  • Course Name

    Health Economics

  • Host University

    Universidad Carlos III de Madrid

  • Location

    Madrid, Spain

  • Area of Study

    Business Administration, Economics, International Economics, Peace and Conflict Studies

  • Language Level

    Taught In English

  • Prerequisites


    Industrial Economics, Microeconomic Theory, Econometrics

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    The main objectives of this course are: 1) Learn the main characteristics of the most common health systems. 2)
    Learn the main economic problems and challenges associated with the main health systems and the economic
    models that were developed to explain them. 3) Discuss and offer solutions to these problems based on economic
    models and knowledge. 4) Study the main contributions in the literature related to these topics.
    By the end of the course, the student should have acquired the knowledge and skills proposed in the syllabus of
    the course, as well as the capacity to: 1) Analyse the problems of health systems using economic tools; 2) Find
    and select the economic literature on health economics themes. 3) Opportunity to improve his/her presentation
    Syllabus Health Economics 2014-2015
    1) Introduction: Why is Health Economics Important? [Stiglitz, chp 12.]
    2) The Health Production Function [Phelps chp. 3]
    3) Evaluation Methods [Zweifel chp2.]
    4) Health Systems:
    a) General Features - [J. Hurst]
    b) General Characteristics of the Health Care Markets [Arrow (1963) ]
    c) Ethics, Efficacy, Effectiveness and Efficiency [FGS chp. 1, 4; Zweifel chp 1, 4, Ortún chp1; 3.1,
    3.2, 3.3]
    d) Equity [Rodríguez, Calonge and Reñe (1988) , Rodríguez and Calonge (1998)]
    e) Regulation of Pharmacies: [García Fontes and Massimo Motta]
    5) Grossman¿s Model [FGS chp. 5, McGuire chp. 7)
    6) Health Insurance
    a) Demand for Health Insurance [Phelps, chp 10; FGS pp 185-187]
    b) Moral Hazard and Copayments [FGS pp 270-275; McGuire pp 189-193; Murillo 1992]
    c) Adverse Selection: the Rothschild and Stiglitz Model [FGS 151-162 and 289-292; Stiglitz (1993)
    - Ariel Economía pp 175-180; Rothschild and Stiglitz (1976)- not a mandatory reading]
    7) Supply Induced Demand¿ [FGS pp 204-211; McGuire 160-166]
    8) Reimbursement Methods [Zweifel chp. 9]
    9) The Pharmaceutical Market
    Such as other courses in Grado, there are:
    1) Theory classes
    2) Practical classes where the number of students is typically smaller. In Practical classes, students are suppose to
    solve exercises and if time allows present a topic.
    There will be two midterm exams that will account for 40% of the final grade and a final exam (60%). The professor
    may decide to allow students to increase their grade (a maximum of 10%) by making a class presentation.
    % end-of-term-examination: 60
    % of continuous assessment (assigments, laboratory, practicals?): 40
    - FOLLAND, Sherman; GOODMAN, Allen C. y STANO, Miron The Economics of Health and Health Care,
    Macmillan, Nueva York, Oxford, 1993
    - ZWEIFEL, Peter y BREYER, Friedrich Health Economics, Oxford University Press, 1997

Course Disclaimer

Please note that there are no beginning level Spanish courses offered in this program.

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.


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