Health Economics

Health Economics is the scientific branch of economics that deals with healthcare provision (supply) and healthcare utilization (demand). Health economics deals with the analysis of allocation mechanisms for health resources in society, or in other words, how society makes coordination decisions to meet the healthcare needs of its population. Economics as behavioral science influences health economics as a subbranch through the contribution of economic thought to healthcare issues. 

What is health?

What is health? Firstly, health is a basic need of all living beings, whether they are humans, animals or plants. The global, national and local health systems, various coordination mechanisms, the necessary goods and indispensable medical services, among others, serve the main purpose of guaranteeing the well-being of the entire biosphere in the world. The health of all living creatures should be a universal basic need on a global scale.

The Corona-Pandemic

The Coronavirus-Pandemic is the current health issue that is stress-testing our healthcare systems on a global scale. How will the global economy deal with the pandemic? How does the pandemic affect our behavior, and which behavioral incentives and contingencies would help to resolve the Corona-Crisis? In summary, health economics is the branch of economics that deals with the decision-making of how to allocate resources to health provision in economies.

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