1) What is an economic evaluation? Describe the different types of an economic

evaluation.

2.

Define the following terms:

Opportunity cost

Value

Efficiency

3.

Explain the difference between marginal analysis and incremental analysis

Part 2:

Healthcare interventions that are effective at improving health benefits

should be implemented.

Provide arguments for and against this statement.

Part 3:

Imagine that you are a member of a government committee that has the

overall responsibility for approving new interventions for government

funding.

The list of programs/interventions that are under consideration at this committee meeting are:

A new drug for the treatment of Alzheimer's disease (has an 80% treatment success rate).

A new intervention for treatment of "heart attack" (20% better outcomes than existing techniques, requires new equipment).

A new vaccination to prevent skin cancer (80% treatment success if immunised at age 16; 20% treatment success if immunised at age 40).

A new drug that increases fat metabolism (50% effective in those who are morbidly obese).

A new device to be fitted into cars that blocks a mobile phone signal (100% effective at blocking the signal, there are 500 car crashes per year where use of a mobile phone has been identified as the primary cause).

For each program/intervention state the additional information that you will need to make a decision as to whether it should be funded or not.

For each program/intervention state the likely comparator.

Based on the above information, which program/intervention are you going to give the highest priority to? Why?