Health Economics

Outline

Health Economics Do Health and Economics go well together? Health Economics: An interesting job Who is hiring health economists... if lucky to find one

Our target market I was not aware of this option, but sounds like the sort

of training that would fast-track my career The job prospects

Exactly what I am looking for... I want to study something that could open doors for me in different sectors, private and public, local and international...

HEALTH AND ECONOMICS TOGETHER (1)LIMITED RESOURCES/UNLIMITED NEEDS/WANTS

HEALTH AND ECONOMICS TOGETHER (2) OPPORTUNITY COSTS

1 Rhinoplasty = $ 20,000

= 10,000 Fully Immunized Children

HEALTH ECONOMICS – AN INTERESTING JOB (1)

HEALTH ECONOMICS – AN INTERESTING JOB (2)

Michael Moore’s movie, SICKO He does not use rigorous economic techniques... But “SICKO” is all about health economics

How should the US deal with the uninsured (approx. 18% of the over 65 population) ?

Why is the US showing such high levels of health expenditure, over 15% of GDP vs. an average 9-10% for other developed countries?

How come that Cubans have managed to achieve universal health care ?

HEALTH ECONOMICS – AN INTERESTING JOB (3)

Bill Gates’ New Job: The Bill & Melinda Gates Foundation: “Millions of people—most of them children—die each

year in developing countries from diseases that are preventable and treatable”

Only a handful of diseases and conditions are responsible for most of the health deficit HIV/AIDS, malaria, TB, maternal and infant-related

conditions, tobacco-related illness and childhood diseases such as pneumonia. All aggravated by malnutrition

They account for 14 million annual deaths in people under 60

HEALTH ECONOMICS – AN INTERESTING JOB (4)

The big picture: Developing countries account for:

84% of the global population 90% of the global burden of disease 20% of global GDP 12% of global health spending

Only a handful of diseases and conditions are responsible for the health deficit of the poor HIV/AIDS, malaria, TB, maternal and infant-related

conditions, tobacco-related illness and childhood diseases such as pneumonia, aggravated by malnutrition

They account for 14 million annual deaths in people under 60 Effective interventions already exist to prevent or treat them

HEALTH ECONOMICS – AN INTERESTING JOB (5)

Two broad areas: Economic Evaluation

Comparing the costs and benefits of alternative interventions, drugs, programs, etc.

Health financing Who is paying for health care? Is there any form of health insurance? How much money goes to hospitals, doctors,

administration, pharmaceuticals? What can we do to be more efficient?

WHO IS HIRING HEALTH ECONOMISTS... IF LUCKY TO FIND ONE (1)

Pharmaceutical companies Decisions to invest in/introduce new drugs in the market

Mining companies: Funding health initiatives as part of their “social

responsibility” program Hospitals/Clinics:

Management of human resources, capital, new technologies; negotiations with insurance companies and governments...

Insurance companies : Offering private health insurance

WHO IS HIRING HEALTH ECONOMISTS... IF LUCKY TO FIND ONE (2)

Development consultants: Working in consulting projects for the WHO, the World Bank,

Unicef, large philanthropies, USAID, EU, etc... many job applicants, but very few with skills in health economics

Management consultants: KPMG, BCG and other large consulting organizations work in

consulting projects for the public and private health sector... many job applicants, but very few with skills in health economics

Governments International agencies Philanthropies...

THE TARGET MARKET

I was not aware of this option, but sounds like the sort of training that would fast-track my career

Health professionals, e.g. nurses, midwives, GPs A very good option for those who want a career change... they

want to stay in the health sector, to take advantage of their clinical/health knowledge, but would prefer a managerial position

Economists A very good option for those interested in consulting

Other professionals already working in the health sector in managerial or policymaking positions

Pharmaceutical companies

WHERE ARE OUR RECENT GRADUATES?

Working for the World Bank as a young professional health economist in Washington D.C.

Engaged as a consultant for health related projects with a big firm in Australia

Working for large government-funded projects in alcohol and tobacco prevention

Principal Economic Planning Officer, Ministry of Finance and National Planning

IN SUMMARY....

Yes, health and economics go well together !!! Ask Bill Gates, Michael Moore and many

celebrities.... Health Economics is an exciting new area

Health economics helps professionals to fast-track their careers

It is multi-disciplinary... Nurses, allied health professionals, GPs, Science professionals, Economists, Administrators are all welcome

Our health economics programs

•Graduate Certificate in Health Economics (1 semester)

•Graduate Diploma in Health Economics (2 semesters)

•Master of Health Economics (3 semesters)

•Master of Health Economics (Advanced) (4 semesters)

Master of Health Economics

Minimum Entry Requirement Bachelor's degree in ANY FIELD; or Graduate

Diploma in Health Economics.Minimum GPA of 4.50 on a 7 point scale.

Commencement: Semester 1 or 2 Specialisations offered

Economic Evaluation Health and Development

MASTER OF HEALTH ECONOMICS - CONTENT

Core Courses: Microeconomics for Business Microeconomic Analysis Statistics for Business & Economics Elements of Econometrics Health Economics Health Economics & Policy Introduction to Epidemiology

MASTER OF HEALTH ECONOMICS - CONTENT

ElectivesMacroeconomics for Business Advanced Applied Economics Business & Economics Decision Techniques Applied Econometrics Advanced Managerial Economics Information Economics Competition and Regulation Policy Public Economics Ecological & Environmental Economics Economic Evaluation and Health Ethics in Health Principles of Epidemiology Control of Non-Communicable Disease Evidence Based Health Care Systematic Reviews of Evidence Introduction to Injury Prevention & Control

Economic Development Health & Economic Development Health Policy and Financing International Disease Control Priorities Health and Development Mortality Analysis Health Systems Organisation & Management International Health PolicyBenefit / Cost AnalysisEvaluation in Public Health Burden of Disease Methods Pharmacoeconomics Cost Effectiveness in Health Medicine

Master of Health Economics - Advanced

Minimum Entry Requirement Bachelor's degree in ANY FIELD;

Minimum GPA of 4.75 on a 7 point scale Commencement: Semester 1 or 2 Includes a stronger research focus – Thesis and

an Economic Project Can be used as a pathway to undertaking a

PhD in the field of health economics.

For more information …

Leonard Fitzpatrick School of Economics l.fitzpatrick@uq.edu.au www.uq.edu.au/economics/health

Accessible to graduates of any discipline Option to specialise One of the few Universities in Australia to offer health economics

graduate programs Complete suite – GCert, GDip, Masters, Masters Advanced and

Research programs