Subdomain

Economic Foundations

Economic foundations covers the economic theory that health economics is built on, from scarcity, opportunity cost and the demand for health to markets and market failure. Many health economists come to the field from medicine, pharmacy or public health rather than economics, so these ideas explain why the methods in the other subdomains work the way they do.

Topics

• Scarcity, choice and opportunity cost

  Choice Theory, Economic Good, Economic Incentive and more

• Demand, supply and markets

  Competition Theory, Elasticity, Equilibrium Price and more

• Market failure and information

  Coase Theorem, Externality, Information Asymmetry and more

• Demand for health and health capital

  Demand for Health, Grossman Model, Health Capital and more