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NSC407

Health Economics

This course introduces the fundamental principles of health economics. It explores core economic concepts such as scarcity, opportunity cost, demand, and supply within the context of healthcare. The course examines health as an economic good, healthcare financing mechanisms, and the relationship between poverty and health. It also covers cost containment strategies, economic evaluation of health programs, and the National Health Insurance Scheme in Nigeria.

About this course

Difficulty
Intermediate
Study hours
40 hours
Maths
Basic
Content
Theoretical
Practical work
No
How it is assessed
  • Assignments
  • Tutor Marked Assignments
  • Final Examination

One paragraph, so you can see how it reads

NSC407 · UNIT 1: INTRODUCTION TO ECONOMICS

Before explaining the economic concepts, it is important to note that there are three economic agents/units. They are: 1. Individual 2. Firm and 3. Government. Therefore, these economic agents are those that are confronted with one decision or the other.

What you should be able to do

  1. Define and apply basic economic concepts to healthcare.
  2. Analyze the factors influencing demand and supply in healthcare markets.
  3. Evaluate different healthcare financing mechanisms.
  4. Assess the cost-effectiveness of health programs.
  5. Understand the structure and implementation of the National Health Insurance Scheme in Nigeria.

What it prepares you for

Careers
  • Health Economist
  • Healthcare Manager
  • Health Policy Analyst
  • Public Health Administrator
  • Healthcare Consultant
Where it is applied
  • Healthcare Providers
  • Government Health Agencies
  • Health Insurance Companies
  • Non-profit Health Organizations
  • Pharmaceutical Companies

Where it gets hard

The units students slow down on, and what makes each one heavy.

  • Module 1: -

    Unit 1: Introduction to Economics

    Understanding the equilibrium concept requires grasping the interaction between demand and supply curves and their implications for market prices and quantities.

  • Module 3: -

    Unit 3: Strategies for Implementation of NHIS in Nigeria

    Requires understanding of complex financial models and healthcare delivery systems.

A suggested way through it

Suggested

13 weeks, about 26 hours in total. Yours will differ.

  1. Week 1Module 1: -
    • Unit 1: Introduction to Economics · 2 hours

      Read the definition of economics and understand its scope.. Study the basic concepts in economics: goods, services, scarcity, opportunity cost, utility, demand, and supply.. Relate these concepts to your daily life and environment..

  2. Week 2Module 1: -
    • Unit 2: Introduction to Health Economics · 2 hours

      Define health economics and understand its importance.. Study the concepts of health as an economic good and medical economics.. Examine the relationship between the economy and health, and the impact of globalization on health..

  3. Week 3Module 1: -
    • Unit 3: Demand and Supply in Healthcare · 2 hours

      Understand the concepts of demand and supply in healthcare.. Analyze the reasons why healthcare needs exceed effective demand.. Study the elasticity of demand and resource allocation in healthcare..

  4. Week 4Module 1: -
    • Unit 4: Cost of Healthcare · 2 hours

      Study the types and elements of healthcare costs.. Examine the benefits of healthcare and economic appraisal methods.. Analyze the reasons for the increasing cost of healthcare and the peculiarities of the healthcare market..

  5. Week 5Module 1: -
    • Unit 5: Budgeting · 2 hours

      Define budget and understand basic concepts related to it.. Study the various types of budgets: operating, personnel, capital expenditure, and cash budgets.. Analyze the advantages and disadvantages of budgeting in healthcare..

  6. Week 6Module 2: -
    • Unit 1: Cost Containment in Healthcare · 2 hours

      Understand cost considerations and containment strategies in healthcare.. Study cost awareness, monitoring, avoidance, reduction, and control.. Examine ways to contain the cost of healthcare, including in primary healthcare..

  7. Week 7Module 2: -
    • Unit 2: Poverty and Health · 2 hours

      Define poverty and understand its impact on health.. Examine the relationship between health problems and the economy.. Analyze how an improved economy can lead to improved health outcomes..

  8. Week 8Module 2: -
    • Unit 3: Health Financing I · 2 hours

      Explore the options in healthcare financing: direct government financing, user charges, and community financing.. Analyze the advantages and disadvantages of each option..

  9. Week 9Module 2: -
    • Unit 4: Health Financing II · 2 hours

      Study health insurance, foreign aid, and voluntary donations as healthcare financing options.. Analyze the advantages and disadvantages of each option..

  10. Week 10Module 2: -
    • Unit 5: Health Insurance · 2 hours

      Define health insurance and understand its history and evolution.. Study the various types of health insurance schemes: private, public, social, community, direct, indirect, and reimbursement.. Analyze the problems associated with health insurance..

  11. Week 11Module 3: -
    • Unit 1: Healthcare Financing in Nigeria · 2 hours

      Understand the National Health Policy on healthcare financing.. Examine health financing by tiers of government and various healthcare expenditure patterns.. Study the options in healthcare financing in Nigeria..

  12. Week 12Module 3: -
    • Unit 2: National Health Insurance Scheme (NHIS) in Nigeria · 2 hours

      Study the history and objectives of the National Health Insurance Scheme (NHIS) in Nigeria.. Understand the healthcare benefits of the scheme and how it works.. Analyze the Nigerian concept of NHIS..

  13. Week 13Module 3: -
    • Unit 3: Strategies for Implementation of NHIS in Nigeria · 2 hours

      Examine the strategies for implementation of NHIS in Nigeria, including the use of HMOs, involvement of insurance companies, and malpractice insurance.. Study the registration/licensing of healthcare providers, payment systems, and responsibilities of providers.. Understand the classification of health providers within the NHIS framework..

Preparing for the exam

What to do
  • Review definitions of key economic terms (scarcity, opportunity cost, elasticity) from Unit 1.
  • Create diagrams illustrating demand and supply curves in healthcare from Unit 3.
  • Compare and contrast different healthcare financing models (user fees, insurance) from Units 8 and 9.
  • Practice cost-benefit and cost-effectiveness analysis examples from Unit 12.
  • Focus on the objectives, benefits, and implementation of the National Health Insurance Scheme (NHIS) in Nigeria from Units 9-11.

Questions students ask about this course

What is NSC407 about?

This course introduces the fundamental principles of health economics. It explores core economic concepts such as scarcity, opportunity cost, demand, and supply within the context of healthcare. The course examines health as an economic good, healthcare financing mechanisms, and the relationship between poverty and health. It also covers cost containment strategies, economic evaluation of health programs, and the National Health Insurance Scheme in Nigeria.

How many units does NSC407 have?

NSC407, Health Economics, has 14 units across 3 modules, over 113 pages of course material. You can read it one unit at a time.

How many credit units is NSC407?

NSC407 carries 2 credit units, at 400 level in Health Sciences.

Is NSC407 hard?

NSC407 is rated intermediate level, with basic mathematical content. It is mostly theoretical work.

How long does NSC407 take to study?

About 40 hours of study, spread across its 14 units.

How is NSC407 assessed?

NSC407 is assessed by Assignments, Tutor Marked Assignments and Final Examination.

What can I do with NSC407?

Health Economist, Healthcare Manager, Health Policy Analyst, Public Health Administrator and Healthcare Consultant.

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