Healthcare operations management

Syllabus Unit 1 Essentials of Health Economics– Basics of Health Economics : Managerial Economics – nature & scope ; Basic of Macroeconomics, concepts & scope; Human Development Index; National Income, GDP,GNP,PPP; Theory of demand and supply; Perfect Competition /Imperfect Unit 2 Cost Accounting & Finance Types of Cost, Cost Control and Accounting, Break-even Analysis; Budget - Budget and Budgetary Control, Basics of Financial Management.

16 marks/2 marks 1.Outline the essence of health economics Health economics is a branch of economics concerned with issues related to scarcity in the allocation of health and health care. In broad terms, health economists study the functioning of the health care system and the private and social causes of health-affecting behaviors such as smoking. 2.Briefly describe the nature and scope of managerial economics. Managerial economics refers to those aspects of economic theory and applications which are directly relevant to the practice of management and decision making processes within the enterprise. Managerial economics deals with the following topics: 1.Demand analysis and forecasting 2.Cost and production analysis 3.Inventory management 4.Advertising 5.Pricing,ploicies and practices 6.Profit management 7.Capital management

16 marks/2 marks 1.Demand analysis and forecasting:- The concept of demand refers to the quantity of goods and services that consumers are willing and able purchase at various prices during a period of time. Effective demand for a thing depends on (i) desire (ii) means to purchase (iii) willingness to use those means for that purchase Determinants of demand (i) price of the commodity:- Other things being equal, the demand of a commodity is inversely related to its price. (ii) prices of other related commodities (iii) level of income of the household (iv) tastes and preferences of consumers (v) size and composition of the population (vi) distribution of income (vii) other factors

16 marks/2 marks Law of demand:-……… According to the law of demand,other things being equal, if the price of a commodity falls, the quantity demanded of it will rise and if the price of a commodity rises, the quantity demanded will decline. The law of demand may be illustrated with the help of a demand schedule and a demand curve. Demand schedule:---- Demand curve:…… Elasticity of demand:-…… Demand forecasting 2.Cost and production analysis:- 3.Inventory management:- 4.Advertising:- 5.Pricing,ploicies and practices:- 6.Profit management:- 7.Capital management:-

16 marks/2 marks 3.Differentiate between macro and micro economics 4.Explain balance of trade and balance of payments 5.Explain National income 6.Explain Gross Domestic Product 7.Gross National Product 8.Net National Product 9.Methods of measuring national income 10.What is Human Development Index 11.Explain Law of demand Explain demand schedule -2 m 13.Explain demand curve -2 m 14.What are the exceptions to the law of demand -16 m 15.Explain elasticity of demand -16 m 16. Explain Law of supply Explain demand forecasting -2/16 m

16 marks/2 marks 18.Expalin cost accounting, financial accounting and management accounting 19.Differences between cost accounting and financial accounting 20.Differences between cost accounting and management accounting 21.Define the term cost 22.Explain the various classifications of cost 23.Expain semi variable costs 24.Explain the terms cost control, cost reduction and cost management 25.What is marginal costing 26.What is PV ratio.Expain the significance 27.What is CVP analysis 28.What is BEP analysis 29.Explain break even chart 30.Define budget

16 marks/2 marks 31.Expalin zero base budgeting 32.What is budgetary control. Explain the objectives 33. Explain the various types of budgets 34.What are the objectives of financial management 35.What are the functions of a finance manager 36.What is break even point