MSc HEALTH ECONOMICS SENSS (3 YR)

Code ECO-7002A  (20 Credits)

This module focuses on various theoretical aspects within the linear regression framework using matrix algebra, complemented by simulations and applications to provide more intuition. A specialist econometrics software is used throughout, allowing a better understanding of the theoretical material using real world data and simulations. After a review of fundamental concepts in Econometrics, the module progresses to a detailed discussion of the multiple linear regression model (MLR), focusing on the theory of estimation, inference, and other important issues, such as, model misspecification and models that involve nonlinearities.

The properties of the OLS estimator are discussed in detail, and simulated examples show all the adverse consequences on these properties if certain assumptions in the data or the population do not hold. Real world applications are considered, discussing whether these assumption hold in reality. For example, the presence and consequences of having non-spherical errors is discussed, focusing on the problem of heteroscedasticity. Moreover, special attention is paid on the problem of endogeneity, while the instrumental variable approach is presented as the main strategy to deal with it.

Code ECO-7003A  (20 Credits)

This is an advanced module in microeconomic theory, designed for postgraduate students with a strong background in economics. The topics covered in this module include the duality approach to demand theory, firm theory, general equilibrium theory, game theory, choice under uncertainty, agency theory and the economics of asymmetric information. The rational-choice foundations of microeconomics are also critically examined.

Code  MED-7006D   (20 Credits)

This module aims to equip you with an understanding of health economics, its value and limitations. It is suitable for students with and without an economics background as the course covers fundamental economic principles and their application to health care. These will include concepts of opportunity cost, supply and demand, efficiency and equity. The module uses these principles to explore relevant topics in health and healthcare. The following topics are covered:

• The application of economic principles to system level health policy issues such as health care priority setting

• Alternative models of health care financing and organisation

• Inequity and inequalities in health and healthcare

• The use of economic evaluation of health care interventions using techniques such as cost effectiveness analysis and cost benefit analysis

• The determinants and consequences of health, and the economics of health behaviour

Code  ECO-7001B  (20 Credits)

This module builds on the material covered in the Autumn Semester modules Financial Econometrics, Econometric Methods, and Econometric Theory. The approach is more advanced than Financial Econometrics and Econometric Methods, and more applied than Econometric Theory. Many students find the material useful when they embark on empirical dissertations in the summer. Broadly, the module is divided into two halves: time series methods (including ARIMA modelling, stationarity testing, ARCH and GARCH models, VAR models and Granger causality testing, cointegration); cross section and panel data methods, models for treatment effects, and models for binary and ordinal outcomes.

Code ECO-7019B - (20 Credits)

IN TAKING THIS MODULE YOU CANNOT TAKE ECO-7016B IT IS RECOMMENDED THAT STUDENTS TAKE ECO-7003A IN THE AUTUMN SEMESTER. The module is about modern macroeconomic theory where economies and not their parts are studied. The focus is consequently on the overall performance of the economy rather than on the functioning of particular parts of the economy. The module uses dynamic general equilibrium models where consumers, firms and governments are modelled as forward-looking agents who make the best of the economic environment they live in.

Code  MED-7008E  (20 Credits)

On this module you will understand and critically appraise the economic studies of health care interventions; understand the range of evaluation techniques and appropriate circumstances for application; and appreciate the links between economic evaluation and economic theory, health service research and decision making and to have confidence to conduct further economic evaluation studies.

Code  MED-7007X  (60 Credits)

The purpose of this module is to illustrate the depth of skills and knowledge that have been developed through the MSc programme. The skills to be developed further include being able to: 

1. Gain practical experience in conducting research in an area of self-chosen content or subject material

2. Gain practical experience of presenting their research in a written format

3. Apply their knowledge of qualitative and/or quantitative methodologies to their own area of self-chosen content or subject materia

Students will be encouraged to consider their dissertation work for publication either within the University or in refereed academic journals.