Health Economics

Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value, and behaviour in the production and consumption of health and healthcare. In broad terms, health economists study the functioning of healthcare systems and health-affecting behaviours such as smoking. Health economic studies provide information to decision makers for efficient use of available resources for maximizing health benefits. Economic evaluation is one part of health economics, and it is a tool for comparing costs and consequences of different interventions.