Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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Quotations

As a skeptic, I reject a sole time series of the past as an indication of future performance; I need a lot more than data. My major reason for this is the rare event, but I have others. On the surface, my statement here may seem to contradict earlier discussions, where I blame people from not learning enough from history. The problem is that we read too much into shallow recent history, with statements like ‘this has never happened before,’ but not from history in general… [H]istory teaches us that things that never happened before do happen. — Nassim Nicholas Taleb

Health Economics

Health Economics
Course numbers:
UIC – ECON 215
Loyola – ECON 329
FULL SYLLABI:
UIC | Loyola

“America’s health care system is neither healthy, caring, nor a system.”

- Walter Cronkite

INTRODUCTION

This course will cover supply and demand for health services, the role of insurance in the health care industry, public policy issues, cost and quality regulation. Upon completion of this course you will be able to:

  • Use cost-benefit analysis to evaluate health related topics.
  • Apply economic principles to the production of health and health capital.
  • Use economic tools to analyze health insurance markets.
  • Understand the basics of the health care labor market.

REQUIRED TEXTS

The Economics of Health and Health Care, Seventh Edition
Sherman Folland, Allen C. Goodman, Miron Stano
ISBN-13: 978-0132773690

Irrationality in Health Care: What Behavioral Economics Reveals About What We Do and Why
Douglas E. Hough
ISBN-13: 978-0804777971

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