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2010/1 Module Catalogue
 Module Code: MANM057 Module Title: HEALTH ECONOMICS & FINANCE
Module Provider: School of Management Short Name: MA246
Level: M Module Co-ordinator: STAVROPOULOU C Dr (SoM)
Number of credits: 15 Number of ECTS credits: 7.5
Module Availability
Assessment Pattern
Module Overview

This module is designed to introduce students to concepts of health economics. Economics is the study of how society makes choices about what output is to be produced, by what means and for whom: in other words, it is the study of how society allocates its scarce resources among competing alternatives. This notion of scarcity is as relevant in the health sector as it is elsewhere since, whatever the level of expenditure on health care, there will always be unmet demand. Moreover, it is important that those resources used in the health sector are applied in the best ways possible. As a result, economic terms such as cost containment and cost effectiveness, competition and health market, health outcomes and prioritising services, are increasingly becoming the language of health service managers and others. The module will explore the meaning of these and other terms. It will examine the economists' "toolkit", the way in which it can be used in the process of policy development, and its limitations.

Module Aims

To ensure that students have a comprehensive grounding in health economics and are able to use its tools and techniques to improve their understanding, analysis and decision making techniques in health care settings.

Learning Outcomes

On successful completion of this module, the student will be able to:

  • Understand microeconomic theories of supply and demand
  • Be able to analyse the macroeconomic framework of resource allocation
  • Be familiar with the incentives associated with different ways of financing health care, nationally and locally, and the possible effects of each
  • Be able to use the different techniques of economic evaluation
  • Be able to measure and value costs and effects of health care interventions
  • Have an in-depth knowledge of the application of economics to research in the evaluation of care
  • Understand and analyse different issues related to commissioning services

Module Content
·         Using demand theory in health policy
·         Theory and practice of economic evaluation
·         Markets & market failure in health care, alternatives to markets
·         Incentives for efficiency in medical practice
·         Equity in health and health care
·         Measuring and valuing costs
·         Measuring and valuing health and other effects of health
·         Design an economic evaluation
·         Economics and decision analysis
·         Programme budgeting and marginal analysis
·         Option appraisal
Methods of Teaching/Learning
The teaching and learning strategy is designed to facilitate an understanding of aspects the complex management and administrative demands of a modern health system and in particular the demands for effective and efficient management. The teaching and learning methods include:
·         lectures
·         ULearn
·         seminars
·         self directed reading
·         discussion
Assessment Pattern
Unit(s) of Assessment
Weighting Towards Module Mark( %)
Individual Assignment – 3,500 words
Qualifying Condition(s) 
Selected Texts/Journals

Stephen Morris, Nancy Devlin, David Parkin (2007); Economic Analysis in Health Care. 
John Wiley & Sons; ISBN 978 - 0470016855
Last Updated
10th December 2009