Economics Financial Management Health Sciences
|Topic||Economics Financial Management Health Sciences|
Economics and Financial Management in Health Sciences
Weighting: 20%: Economics Financial Management Health
Question #1: Respond to each of the following cases (6 points)
1.1 A clinical trial found that a new treatment of breast cancer had the same results of the conventional one — the cancers remained just as deadly when treated with high doses. What evaluation method would you use and why?
1.2 A patient has the choice of parking close to a physician clinic for a fee of 20 AED per hour or parking farther away from the clinic and spending 15 minutes more walking. Given that the opportunity costs of time spent in walking is 600 AED per hour, what evaluation method would this patient use and why?
1.3 The findings of a clinical trial conducted on patients with lung cancer indicated that patients under the new treatment live approximately two years longer compared with patients who did not administer this treatment. The results have also shown that patients under the new treatment are less likely to experience treatment-related nausea and vomiting. What evaluation method would you use if your target is to increase the patient’s survival rate? Why?
1.4 You are asked to evaluate two medical interventions that reduce the number of deaths due to congestive heart failure. Among these interventions, there are no influences on the patient’s quality of life. What evaluation method would you use and why?
1.5 You have recently taken on a new project, and your medical staff is struggling to keep up with the increased workload. You are therefore considering whether to hire new staff members, what evaluation method would you use if the goal of your project is to:
1.5. A Improve the quality of water and public health? Why?
1.5. B Establish a new private medical laboratory? Why?
Question #2: (5 points)
2.1 Select an activity that generates negative externalities from consumption.
2.2 List the private and social costs arising from the consumption of the chosen activity?
2.3 Evaluate policies that may be used by the UAE government to reduce the external costs of consumption?
Question #3: (6 points)
The following table illustrates the application of the profit maximization rule. The market price of Metreleptin, a medication to treat people who have lipodystrophy problems, is $60. At this price, pharmacies can sell this medication up to the short-run capacity. Based on the following data, answer the next five questions:
3.1 Calculate the profit, total revenue, marginal cost, and marginal revenue per packet sold?
3.2 What is the profit-maximizing output? Why?
3.3 How would you respond to those who sell two packets of Metreleptin at this given price? Is it efficient? Why?
3.4 Graph the ATC, MC, and MR.
3.5 Does the previous case represent an example of a perfectly competitive market? Why?
Question #4: (3 points)
An outbreak of novel coronavirus (2019-nCoV) that began in Wuhan, China, has spread rapidly, with cases now confirmed in multiple countries. People can obtain information on how to prevent the spread of infections from several sources, including the national distribution of brochures, free Wi-Fi, cell phone services, and safety awareness notices in public places. How can these sources of information to be classified (public or private goods)? Explain.
Guidelines for Completion: Economics Financial Management Health
1. Word length: up to 1500 words
2. Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA style
3. Include a cover page containing the number of the assignment, your name, the professor’s name, the course title, and the date of submission.
4. The cover page and the reference page are not included in the required assignment word length.
5. Use graphs, when applicable.
6. Please do not copy from lectures or readings.
7. No need to rewrite the questions; just insert the number of the question.
8. The plagiarism rate should not exceed 25%
9. One point will be deducted for each day of delay
Economics Financial Management Health