WK5 CHAP5 Microeconomic Concepts Current State of US Health Care Industry

Identify and describe the current state of the health care industry or a particular segment of the healthcare industry using the Microeconomic concepts and tools we have studied this semester. You will find an overview of the economics of health care in chapter 30 and a discussion of Medicare in Chapter 5. For this week, you will want to supplement this reading with research from a newspaper or newsmagazine or from a reputable online source that deals with U.S. Healthcare.

For this week your post should:

  1. List the pros and cons related to the current system in place in the United States along with a short explanation of health insurance and how it relates to this debate.
  2. Apply either supply and demand analysis (week 2 material) or elasticity analysis (week 3 material) or the examination of market structures (weeks 4-5 material).
  3. Develop your own solution to this social issue, but you must understand and explain the economic costs of your decision.

Hint: You may want to compare healthcare systems in other countries.

This is always a very interesting discussion. Healthcare is a problem in this nation and has been for a long time. Part of it is the unique system we have.

If this topic is of interest to you, I would recommend two books:

An American Sickness by Elisabeth Rosenthal and Code Red An Economist Explains How to Revive the American Healthcare System without Destroying It.