HLTH 245- Midterm Exam Guide - Comprehensive Notes for the exam ( 14 pages long!)

• School: University of Waterloo
• Department: Health Studies
• Course: HLTH245
• Professor: Jacob Shelley

Document Summary

If all else equal, use resource efficiently or judged to be more equitable: what allocation policies, processes and mech, will enable society to achieve desired allocation, central planning, market systems, combination of both. Features of economic analysis: scarcity of resources, opportunity cost (resource for once purpose is the benefits forgone from next highest) Decision: a doctor considers whether to increase the # of patients. Marginal benefit: extra revenue and patient health improvements. Marginal cost: addition labour and materials: use models to explain behaviour/outcomes, described in words, graphs, math. Intended to explain reality in simplified way (predict) What is health economics: nature of health and health care as economic commodities. Who pays for health care: total health expenditure from public sector (inc price, people use less health care, federal charge on aboriginal and military, hospital, physician, drugs (recently large category, depends where you consume. Fed does(cid:374)"t (cid:449)a(cid:374)t to (cid:272)o(cid:374)test (cid:272)o(cid:374)stitutio(cid:374)ality of ca(cid:374)ada health a(cid:272)t (1984)