Health Economic

Instructions: In a typed document, answer 6 of the 7 questions below. IF YOU ANSWER MORE THAN 6, only the first 6 will be accepted. You may use any of your notes, the book, and/or the internet. However, you MAY NOT WORK WITH ANOTHER STUDENT. Any students who work together will get a zero for the exam. Be as thorough as possible when answering but make sure to stay on topic. You may draw graphs with your answers, but they are not required. Limit all answers to 250 words.

Compare and contrast the health care flow of funds of 1929 and 2010. Be specific of who pays whom and who gives care to whom. (You may draw the graphs if it is helpful in your explanation, but just drawing them is not enough).
For both of the following, which would you expect to me more demand elastic and why (HINT: Your answer should discuss need and substitutes)?
Emergency room care or prenatal care?
Aspirin or a heart medication that has no close substitutes?
Assume that there exists some vaccine that is very limited in supply, but for which there is a high demand. If the goal is to maximize the total benefit of those treated, how should physicians determine who gets the vaccine (hint: your discussion should involve some mention of the “flat of the curve”)?
Compare the moral hazard effects of standard PPO (preferred provider organization) plans to a high deductible plan. You answer should discuss out of pocket expenses.
List and describe the two relationships that a manager manages in a managed care plan.
A cardiologist gets paid much more than a general practice physician. Explain why this is. Make sure your discussion includes differences in skills, information symmetry, time, and risk between each field.
Why do a majority of students who get into medical school attend AND graduate? Include self-selection in your discussion.