Nur 621: Economic Theories And Models In Healthcare

Nur 621 Economic Theories And Models In Health Carethe Purpose Of This

Nur 621 Economic Theories And Models In Health Carethe Purpose Of This

NUR-621 Economic Theories and Models in Health Care The purpose of this assignment is to describe economic theories and models in health care. Include your responses in the worksheet listed below and base your responses on evidence. Include references to your textbook and one scholarly article. The four theories/models are listed below. Theories/Models Description/Definition Example Related to Health Care Components 1.

Efficiency Efficiency in resource use (getting the most out of limited resources) is a goal that every health-care organization can accept, regardless of one's perspective (e.g., that of society, insurers, hospital administrators, or patients). Economic analysis is fundamentally about resource use and can serve an important role in health-care decision-making. Applying economic thinking to health care presents challenges to researchers and will require new approaches to analysis. Measuring the productive process in hospital care is complicated by the fact that the patient is both an input and an output in the process (i.e., the patient's health is a function of factors determined outside the hospital, such as lifestyle and genetics).

Precise and accurate information from hospital epidemiology is critical to understanding the resources needed, and thus the economic impact, of caring for hospitalized patients. 2. Supply and Demand The relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy (“Supply and demand | Definition, Example, & Graph,†n.d.). 3. Economies of Scale 4.

Market Failure Ouliaris, S. (2011). What Are Economic Models? ProQuest , 48 (2), 46–47. Retrieved from supply and demand | Definition, Example, & Graph. (n.d.). Retrieved July 28, 2020, from © 2020.

Grand Canyon University. All Rights Reserved. © 2020. Grand Canyon University. All Rights Reserved. Discussion Board Reread pages 38 to 39, High Frequency Trading, and watch at least one of the following videos: Original “60 Minutes†section on HFT uploaded June 5, 2011 (has pros and cons): (Links to an external site.) Interview with Michael Lewis about his new book “Flash Boys†from “60 Minutes†on March 30, 2014: (Links to an external site.) Short video about the “60 Minutes†interview with Michael Lewis shown on CBS Morning Show on March 31, 2014: (Links to an external site.) Discussion Questions How does HFT affect the market?

Is HFT illegal? Unethical? Do you believe that the stock market is efficient? How do you feel about investing in the stock market now? The discussion board will be set in Canvas to require students to contribute their own response to the prompt prior to reading what classmates have posted.

Each student will submit an initial response posting to reflect on all aspects of the prompt. Conclusions must be defended with evidence in appropriate APA format, which means both in-text and end-of-text citations should be included. At Least 350 Words