Introduction to health economics kaleab
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This document provides an introduction to health economics. It defines economics as the study of how people make choices with scarce resources to satisfy unlimited wants. Economics can be divided into microeconomics, which examines individual components like industries and households, and macroeconomics, which examines the entire economy as a whole. The document also distinguishes between positive economics, which involves factual statements, and normative economics, which involves value judgments. Finally, it defines health economics as the application of economic theories and tools to topics related to health and health care, including the allocation of scarce resources within the economy and health care system.
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Chapter 1
The document discusses key concepts and principles of economic development. It defines development as a multi-dimensional process involving not just economic growth but also social, institutional and cultural changes that improve living standards. Several metrics are used to measure development, including GDP per capita, human development index, health and education indicators. Common characteristics of developing countries are identified such as low living standards, income inequality, poverty, dependence on agriculture and lack of industrialization. Theories of development and classifications of countries by institutions like the UN and World Bank are also outlined.
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The document discusses key concepts related to economic development. It defines development as a multidimensional process aimed at improving people's well-being and opportunities rather than just economic growth. Development is measured using economic, social, and demographic indicators like GDP, literacy rates, and life expectancy. Core values of development include meeting basic needs, improving self-esteem, and increasing freedom. The objectives are raising living standards, enhancing well-being and economic choices. Countries are classified by levels of development from least to most developed. Factors like poverty, population growth, and exploitation have hampered development in less developed countries.
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Economic growth measures the value of goods and services produced, but does not account for how wealth is distributed or impacts human welfare. Economic development aims to measure improvements in human welfare by considering factors like poverty, political freedoms, education access, and standard of living. However, defining and measuring progress and welfare can be subjective, as different societies may value different things. The Human Development Index attempts to quantify development across three dimensions of longevity, education, and income, but other metrics could provide additional context.
A New Indicator Of Social Welfare: A Citizen Centered and Open Data Oriented ...
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Economic growth||development||gjergj kol mihilli
Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the warp effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure
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Development requires sustained effort over long periods and involves changes. Economic growth refers to increases in output or production, while economic development also includes changes to production arrangements. Development in humans and countries involves not just physical increases but also changes to attitudes, habits, and intelligence/institutions to become mature. Economic development is characterized by sustained output increases, widespread structural changes, and growth in efficiency shaped by non-economic factors.
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The document discusses two chains of the relationship between economic growth and human development. Chain A is where economic growth leads to improved human development through increased public expenditures on health and education. Chain B is where improved human development, such as better education levels, leads to higher economic growth through increased productivity. Empirical evidence supports the existence of both chains. Countries' development can be classified into four categories based on the strength of this relationship: virtuous, vicious, human development-lopsided, or economic growth-lopsided.
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This document presents information on GDP and the Physical Quality of Life Index as indicators of welfare. It discusses how GDP is used as a welfare indicator but fails to capture many important factors like wealth distribution, non-market transactions, non-monetary and black markets, the type of production, and sustainable growth. The Physical Quality of Life Index is then introduced as an alternate measure using literacy rates, infant mortality, and life expectancy, with the details on how it is calculated provided.
Chapter 1 economic development (1)
1. Economic development generally refers to sustained actions that promote standard of living and economic health in a specific area. This involves initiatives like developing human capital, infrastructure, competitiveness, sustainability, social inclusion, health, safety, and literacy.
2. Economic development differs from economic growth in that development is a policy intervention for economic and social well-being, while growth is a rise in market productivity and GDP. Growth is an aspect of development.
3. Traditional views saw development as efficient allocation of resources for goods/services production. New views define it as improvements in material welfare especially for the poor, eradicating poverty and its impacts, and greater participation in decision making.
development population
More recently another measure, the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. This criterion would define developed countries as those with a very high (HDI) rating. A developing country, also called a less developed country is a nation with a less developed industrial base, and a low Human Development Index (HDI) relative to developed countries.
Developing countries are, in general, countries that have not achieved a significant degree of industrialization relative to their populations, and have, in most cases, a medium to low standard of living. There is a strong association between low income and high population growth. The World Bank classifies all low- and middle-income countries as developing but notes, "The use of the term is convenient; it is not intended to imply that all economies in the group are experiencing similar development or that other economies have reached a preferred or final stage of development. Classification by income does not necessarily reflect development status. gender equity refers to the economic, social, political, and cultural attributes and opportunities associated with being male or female.
Meaning of Development Over Time
The meaning of development has changed over time. Originally, development referred primarily to economic growth, measured by increases in GDP and per capita income. In the post-World War II era, development took on a broader definition as a multi-dimensional process involving social and economic reorganization. More recently, development is understood as improving living standards and access to resources while also increasing individual freedoms and promoting sustainability.
M01 todaro smith013934_11_econ_c01
The document is an introductory chapter about economic development that discusses key concepts. It begins by providing quotes from poor individuals around the world that illustrate the multidimensional nature of poverty. It then discusses how development economics differs from traditional economics by considering non-economic factors. The chapter also examines definitions of development, including measures like GNI but also Amartya Sen's capability approach. It outlines the Millennium Development Goals and provides tables listing the goals and targets. It concludes by emphasizing the importance of development economics and achieving the Millennium Development Goals.
Economic development
The document outlines a presentation on economic development. It discusses key concepts like economic growth, economic development, sustainable development, and the differences between them. It also examines the main elements, features, conditions and significance of sustainable development. Finally, it identifies the economic and non-economic determinants of economic development, such as natural resources, human resources, physical capital, technology, markets, social factors, political stability, and corruption.
History of economic development
This document provides an overview of the history of economic development theories from World War 2 to modern times. It discusses how development economics emerged as a field in response to the needs of developing countries after the war. Early theories focused on modernization, industrialization, and linear stages of growth. Later, structuralism and dependency theory argued external factors influenced underdevelopment. Neoclassical theories emphasized free markets. Contemporary theories include endogenous growth theory examining knowledge-driven growth.
Economic development
This document provides an overview of economic development concepts and issues. It defines development as a multi-dimensional process involving social and economic reorganization to improve quality of life. Traditional views saw development as economic growth, while newer views emphasize reducing poverty and inequality. Sen's capabilities approach sees development as expanding freedoms. The document also discusses objectives of development, characteristics of developing nations, differences between growth and development, and indices like HDI and MDGs that measure development progress.
Igcse gdp
The document discusses different ways to measure the output and economic growth of a country. It defines national income or GDP as the total value of goods and services produced domestically over a period of time. GDP can be measured by total output, total expenditure, or total income. Economic growth is defined as an increase in national income or GDP over time after accounting for inflation through real GDP. While economic growth can improve living standards, it may also increase environmental damage and resource depletion. Alternative measures of welfare and quality of life beyond GDP are also discussed, such as GDP per capita, the Human Development Index, and social indicators related to health, education, poverty, and the environment.
The High Cost of Gender Inequality in Earnings
This document discusses a study that estimates the economic cost of gender inequality in earnings globally and regionally. Some key findings of the study include:
- Globally, gender inequality results in $160.2 trillion in lost human capital wealth, which is about twice global GDP. Human capital wealth could increase by 21.7% with gender equality in earnings.
- On a per capita basis, gender inequality leads to $23,620 in lost wealth globally due to lower lifetime earnings for women compared to men.
- The largest losses are in high-income countries due to higher overall wealth levels. In low-income countries, women account for a third or less of total human capital wealth.
- Investments throughout
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Functioning of an economy
Economics deals with choice making under conditions of scarcity and surplus. The core economic activities are production and consumption, and the aim is to optimize resources and achieve growth. Information is essential for economic decisions regarding all activities. Asymmetric information disrupts decisions and economic activities, negatively impacting the functioning of the economy and growth. For the economy to function efficiently, perfect information sharing is needed between parties involved in production, consumption, and exchange.
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This document provides an introduction to economics. It defines economics as the study of proper allocation of scarce resources for satisfying human wants and needs. Economics has two main branches: microeconomics, which focuses on individual decision making units like households and firms, and macroeconomics, which looks at the overall economy and factors influencing national income. Positive economics attempts to understand and explain economic behavior without judgment, while normative economics makes judgments on outcomes and policies. The document outlines key economic concepts like scarcity, resources, efficiency and the scientific methods used in economics like observation, analysis and statistics. It concludes by listing various fields within economics.
HU200-Introduction-2020-2021.pptx
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HEALTH ECONOMICS
Health economics is the study of how scarce resources are allocated for health and healthcare. It examines issues of cost, value and behavior in healthcare systems. Key concepts in health economics include viewing health as a private or public good, measuring population health status, considering healthcare as an economic good, and analyzing how individuals and societies make choices around issues of health, healthcare needs and costs under conditions of scarcity. The field is important for health policy formulation and evaluating the costs and benefits of different policy options.
Chapter 1Introduction to Macro Economics.pptx
Prior to Keynes, the business cycles were considered to be inevitable, and there was no concrete approach to solve these problems. These economists known as classical economists focused only on the micro aspects of the economy. The Great depression of 1930 left many of these economists helpless.
In this backdrop, Keynes came up with a new approach to look at the economy.
"The General Theory of Employment Interest and Money“ a book by J.M. Keynes
Ch1.pdf
This document provides an overview of the scope and method of economics. It discusses why economics is studied, including to learn a way of thinking, understand society and global affairs, and be an informed citizen. It outlines the key fields of microeconomics and macroeconomics and various subfields of economics. It also explains the difference between positive and normative economics and how economics uses theories and models to understand relationships between economic variables.
Lecture 1.pptx
Scarcity is a fundamental economic concept that refers to limited resources being insufficient to fulfill all human wants. The four main types of resources are land, labor, capital, and entrepreneurship. Economics is the study of how individuals and societies deal with scarcity by making choices about what to produce, how to produce it, who receives what is produced, and how resources are allocated. Microeconomics analyzes individual units like households and firms, while macroeconomics analyzes aggregates for the overall economy. Key economic assumptions include rational choice by consumers and profit-maximizing firms, and the concept of equilibrium where benefits and costs are balanced.
Presentation1
Managerial economics applies economic theory and methods to business decision making. It helps managers understand how economic forces impact their organizations and the economic consequences of their decisions. Managerial economics bridges traditional economics and decision sciences to develop tools for managers. It identifies efficient ways to achieve goals, such as pricing and production strategies to help businesses meet short-term growth objectives.
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Introduction to health economics kaleab
- 1. INTRODUCTION TO HEALTH ECONOMICS Kaleab tesfaye (BSCPH,MPH)
- 2. Definition of Economics • The study of how men and society end up choosing to employ scarce resources that could have alternative uses” (Samuelson) • Economics is the study of how people allocate their limited resources in an attempt to satisfy their unlimited wants.
- 3. CONTINU…. • As such, economic is the study of how people make choices. • It is also the study of scarcity and choice, finally helps how to use scarce or limited resource. • The subject matter of economics lies on the production, distribution and consumption of economic goods.
- 4. Branches of economics • Macroeconomics versus microeconomics • macroeconomics studies the functioning of the economy as a whole • microeconomics, which analyses the behavior of individual components like industries, firms and households.
- 5. Macroeconomics • The study of the behavior of the entire economy and concerned with the behavior of the economy as a whole • or with the broad aggregate of economic life such as national output, income, the overall price level, unemployment, and foreign trade.
- 6. CONTINU…. • It examines such historical issues as why did production and prices in some countries and the rest of the industrial world collapse during the great depression of the 1930s..
- 7. CONTINU… • Economics plays two distinct roles in promoting the understanding of national economic issues. • First it helps to describe, explain and predict economic behavior • it helps us understand the causes of poverty
- 8. Microeconomics • Deals with the behavior of individual prices and quantities (Issues at individual level). • Our knowledge of economics helps us to manage our personal lives, to understand society and to design better economic policies.
- 9. Normative versus positive economics (Fact or opinion?) • When using economics we must be careful to distinguish between • normative statements (or value judgments) and • positive (or factual) statements..
- 10. Positive economics • describes the facts and behavior in the economy. • What percentages of teenagers are unemployed? • How many people earn less that Birr 6,000 a year?
- 11. continu • What will be the effect of higher cigarette taxes on the number of smokers? • These are questions that can be resolved only by reference to facts; they are all the realm of positive economics.
- 12. Normative economics • involves ethics and value judgments. • Should the government give money to poor people? • Should the public sectors (government) or the private sector (business) provide extra jobs for unemployed teenagers? • Should higher taxes or lower spending reduce the budget deficit?
- 13. Continu… • These are questions involving deeply held values or moral judgments. • They can be argued about, but they can never be settled by science or by appeal to facts.
- 14. Continu… There simply is no right or wrong answer to how high inflation should be, whether society should help poor people or how much the nation should spend on defense. These questions are best resolved by political decision, not by economic science.
- 15. “Health economics” • can be defined as the application of Economic theories, tools and concepts of economics as a discipline to the topics of health and health care.
- 16. Continu… • Since health economics is concerned with issues related to the allocation of scarce resources to improve health • this includes both resource allocation within the economy to the health sector and within the health care system to different activities and individuals.