This introductory course delves into the compelling field of health economics, exploring how economic principles shape healthcare systems and individual health decisions. We'll examine the unique characteristics of healthcare markets—including uncertainty, information asymmetry, and substantial government involvement—and apply economic concepts to analyze the complex tradeoffs faced by stakeholders. Key topics include healthcare demand, insurance market dynamics (adverse selection and moral hazard), and the role of government interventions. The course also addresses global health policy challenges and emerging areas such as the economics of mental health and well-being. As an SMU-X course, students will engage in a real-world project with industry partners, bridging theory and practice in this vital economic sector.
Students will be able to explain the unique characteristics of healthcare markets and apply economic concepts to analyze healthcare systems and policies. Students will gain skills in interpreting health economic research and data and applying economic theories to real-world healthcare issues through the industry partner project. Students will also develop the ability to formulate and present evidence based policy recommendations for complex healthcare challenges.