Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Undergraduate, Postgraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

LevelUndergraduate, Postgraduate
FacultyFaculty of Business and Economics
OfferedNot offered in 2010
Coordinator(s)Professor Jeff Richardson and Ms Jenny Watts


A survey of theoretical issues in the economics of health systems and the major health policy issues confronting Australia. Emphasis is given to theories which differ from economic orthodoxy. Topics include market characteristics; market failure and regulation; equity and issues of social justice; demand analysis and human capital; the production of health and health care; theories of price formation; hospital models and hospital payment; optimal health insurance; and alternatives to Medicare.


The learning goals associated with this unit are to:

  • have a clear understanding of the theoretical debate over the 'special' characteristics of health and the health care and health insurance markets
  • have a clear understanding of the major theories of the demand for health care
  • have a clear understanding of the use of economic incentives to achieve allocative and technical efficiency in the production of both health and health care services
  • be familiar with the social and institutional characteristics of the Australian health care market and the various proposals for its reform.


Within semester assessment: 40%
Examination (3 hours): 60%

Chief examiner(s)

Jennifer Watts

Contact hours

3 hours per week