This is an introductory course to the field of health economics. Economic concepts such as scarcity, incentives, marginal analysis, profit-maximization and cost-minimization will be used throughout this course. It first begins with production of health capital, demand-and- supply analysis of health and health care and production of health. It then discusses the importance of asymmetric information (adverse selection, moral hazard) in insurance markets. Other topics covered may include the role of government in the provision of health care, economics of mental health and happiness, and health policy debates in developing countries. This course is also an SMU-X course which involves the participation of an industry partner in the course project.
The objective of this course is to gain understanding of basic concepts of economics of health and health care. By the end of the course, students will be equipped to evaluate current health care policy issues from an economic perspective.
Students studied and researched the various impact of COVID-19, exploring telemedicine as an upcoming trend in South East Asia and as well as understand the status of digitalization and modernization in healthcare in emerging South East Asia Countries, as well as to understand the digitalization and modernization level of healthcare in emerging South East Asia countries.
Students investigated on the economic dynamics and implications of COVID-19 vaccines in Singapore, which provided insights for better decision making.