This course applies the basic tools and principles of Microeconomics, Industrial organization, and Strategy to analyzing the structure and operation of healthcare markets. Students who successfully complete this course will be able to
? Understand the nature of relationships between the full set of healthcare industry players, including key aspects of the legal and regulatory frameworks that govern healthcare markets
? Understand the key trends, cost-drivers, and profit-drivers throughout the healthcare system.
? Understand the language of the healthcare reform debate; evaluate the likely effects of alternative proposals on industry landscape
? Describe the U.S. health insurance industry, explain the incentives facing insurers, strategies they use to successfully compete, and the welfare implications of those strategies
? Describe the quality movement, including the strengths and weaknesses of current approaches to measuring and rewarding quality
? Evaluate the effectiveness of price and nonprice competition in the healthcare market. Describe strategies to improve the effectiveness of competition, including antitrust policy
This course will interest students planning on careers in the healthcare industry or related industry, as well as students who are interested in the application of economics to business and policy issues.
A significant portion of this course will involve discussions and analyses of antitrust issues in the healthcare sector. This is because antitrust analysis, in addition to being directly relevant to firm performance, hones in on the key competitive factors that determine economic outcomes (prices, quantities, profits, transaction costs, the boundaries of the firm …) in an industry.
Prerequisites: Core micro/strategy. No knowledge of the healthcare system is necessary.
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