Introduction to Economic Evaluation

This subject provides an introduction to the principles, concepts and methods of economic evaluation and their application to health care and public health. Students are introduced to the foundations of economic evaluation in economic theory and the principal methods used by health economists: cost benefit analysis, cost effectiveness analysis, cost consequences analysis and cost utility analysis. In each case, the steps involved in identifying, measuring and valuing incremental costs and outcomes will be explained. Students will learn the key elements of an economic evaluation study design and be able to critically review economic evaluation studies. Contemporary issues and approaches in economic evaluation will be introduced, including the use of distributional cost effectiveness to capture reductions in inequality; and subjective wellbeing and other approaches for extending the measurement of benefit beyond the Quality Adjusted Life Year (QALY)