1. Economics 248 Fall 2008

2. Contact Information Dr. D.J. McCready P3028 dmccready@wlu.ca dj_mccready@rogers.com Office Hours: –10:00 – 11:00 Tuesday and Thursday

3. Course Outline The course outline is a contract. If you break the contract, there will be a penalty

4. Topics Covered Special characteristics of Health Economics Demand for Health Care –Role of alternative medicine Supply of Health Care –Emphasis on licensing Financing Health Care Health Reform – evaluating policy –Cost-benefit, cost-effectiveness, cost-utility

5. Special Characteristics Demand partly determined by supply Demand is for health and not health care Health care does not have a one-to-one relationship to health There is an agent relationship with your health professional Moral hazard

6. continued Insurance removes the price relationship and causes one to demand more The supply of health care is artificially restricted by licensing