Learning Objectives:
Undergraduate students should be able to
- Explain the primary determinants of the means and cost of production of healthcare
- Define key concepts of economic supply, including production function; elasticity of inputs; short and long term costs; fixed, variable, marginal costs
- Differentiate between not-for-profit and for- profit supply behavior
- Describe the role of technological change on supply
Graduate students should also be able to
- Analyze the relationships between the multiple elements of the supply of health care services.
- Evaluate how a change of inputs or behaviors of a market participant can impact the broader market supply of health care services