Economics of Public Health Nursing

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Presentation transcript:

Economics of Public Health Nursing Chapter 8 Economics of Public Health Nursing

Economics Study of how scarce resources are allocated Supply Demand

Economics Allocation of scarce resources Opportunity costs Preferences Uncertainty

Economic Decision Making Economic logic Scarcity Preference Opportunity costs Uncertainty

Basic Economic Reasoning Decision making at the margin Marginal benefit Utility Profit

Economic Reasoning in Public Health Profit maximization and cost minimization Fixed cost Variable cost Efficiency Technical efficiency Technical rate of substitution Allocative efficiency

Economic Reasoning in Public Health Economics of for-profit and not-for-profit organizations’ behavior Organizational objectives Minimizing costs Discount rate

Economic Reasoning in Public Health Economics of an individual investment in health Health promotion and disease prevention Motivation Valuing the future

Economic Reasoning in Public Health Effects of one person’s behavior on another person’s health Externalities Positive: Immunizations Negative: Smoking

Economic Reasoning in Public Health Decisions under uncertainty S-CHIP Economic evaluation using cost benefit and cost effectiveness analyses Cost benefit Cost effectiveness analysis Quality Adjusted Life Year (QALY)

Economic Reasoning Economics of the public health nurse labor market Labor supply curve Reservation wage Individual motivation to work Backward bending supply curve

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