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VideoMultimedia, Teaching Resource 2018EMR20: The Economics of Pharmaceuticals, Part 1
In the first of two videos on the economics of the pharmaceutical industry, Professor David …
In the first of two videos on the economics of the pharmaceutical industry, Professor David Cutler asks students to consider the types of prices that pharmaceutical companies set for their medications, the implications of higher and lower prices, and how to think about this in a global society. He explains basic economic concepts (e.g., demand, supply, marginal cost, willingness to pay, etc.) in an accessible manner using two simple examples. The first case focuses on…
Policy/Regulation | Costing Methods | Benefit-Cost Analysis | Cost-Effectiveness Analysis | Infectious Diseases | Chronic Disease/Risk | Business/Industry | Economics/Finance | Science/Technology | Global | North America | High School | College | Graduate | Critical Thinking/Analysis | Quantitative Literacy -
VideoMultimedia, Teaching Resource 2018EMR20: The Economics of Pharmaceuticals, Part 2
In the second of two videos on the economics of the pharmaceutical industry, Professor David Cutler …
In the second of two videos on the economics of the pharmaceutical industry, Professor David Cutler asks students to consider a dynamic context – one in which prices are set to consider both the cost of producing drugs and the costs of investment in R & D to find new drugs. He returns to the relationship between dollars and quantity, but in this case, distinguishes "how many pills to produce" from "how much should the company invest in…
Policy/Regulation | Costing Methods | Benefit-Cost Analysis | Cost-Effectiveness Analysis | Infectious Diseases | Business/Industry | Economics/Finance | Science/Technology
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