Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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Quotations

A planted seed has value long before it becomes a tree. The potential benefits are enough to give it value. Teaching is the planting of seeds. Knowledge, or even better, wisdom, is an investment like a tree that goes on and on producing fruit. But unlike a fruit tree, you have no idea when the fruit will come or what kind it will be. — Russell Roberts, The Price of Everything (2008)

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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