Concepts of ‘efficiency’ and ‘equity’

REFERENCES:

Parkin, D. (2017). Principles of health economics including: The notions of scarcity, supply and demand, distinctions between need and demand, opportunity cost, discounting, time horizons, margins, efficiency and equity. In Medical Sociology, Social Policy and Health Economics. Accessed at: http://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/principles-he

Parkin, D. (2017). Assessing performance. In Medical Sociology, Social Policy and Health Economics. Accessed at: http://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/assessing-performance

Parkin, D. (2017). Financial resource allocation. In Medical Sociology, Social Policy and Health Economics. Accessed at: http://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/financial-resource-allocation

Parkin, D. (2017). Systems of health and social care and the roles of incentives to achieve desired end-points. In Medical Sociology, Social Policy and Health Economics.  Accessed at: https://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/incentives

TASK (at least 5 0 0  w o r d s)

As per the above readings, the concepts of ‘efficiency’ and ‘equity’ were explained.  These two concepts are essential in health economics, and also in the health care delivery.  In prior courses, the concept of ‘equity’ and how it influences and determines health through various social and economic routes has been discussed at length as well.

Using the readings to support the arguments, discuss how the social determinants of health may or may not interact with health economics.  Did your readings consider this interaction? Are there gaps?  If yes, describe them. If not, describe the linkages as you see them from this week’s readings.

In the Learning Journal, be sure to describe:

Summary of learnings

Any preconceived ideas or notions and how this activity and reading helped to add or dispel those ideas or notions