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Economics of Public Health Nursing: Allocation and Decision Making

Explore the economic principles that guide the allocation of scarce resources in public health nursing, including supply and demand dynamics, opportunity costs, and preferences. Understand the economic reasoning behind decision making in public health, such as profit maximization, cost minimization, and efficiency. Learn about the economic aspects of individual investments in health, the effects of behavior on others' health, decisions under uncertainty, and the economics of the public health nurse labor market.

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Economics of Public Health Nursing: Allocation and Decision Making

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  1. Chapter 8 Economics of Public Health Nursing

  2. Economics • Study of how scarce resources are allocated • Supply • Demand

  3. Economics • Allocation of scarce resources • Opportunity costs • Preferences • Uncertainty

  4. Economic Decision Making • Economic logic • Scarcity • Preference • Opportunity costs • Uncertainty

  5. Basic Economic Reasoning • Decision making at the margin • Marginal benefit • Utility • Profit

  6. Economic Reasoning in Public Health • Profit maximization and cost minimization • Fixed cost • Variable cost • Efficiency • Technical efficiency • Technical rate of substitution • Allocative efficiency

  7. Economic Reasoning in Public Health • Economics of for-profit and not-for-profit organizations’ behavior • Organizational objectives • Minimizing costs • Discount rate

  8. Economic Reasoning in Public Health • Economics of an individual investment in health • Health promotion and disease prevention • Motivation • Valuing the future

  9. Economic Reasoning in Public Health • Effects of one person’s behavior on another person’s health • Externalities • Positive: Immunizations • Negative: Smoking

  10. Economic Reasoning in Public Health • Decisions under uncertainty • S-CHIP • Economic evaluation using cost benefit and cost effectiveness analyses • Cost benefit • Cost effectiveness analysis • Quality Adjusted Life Year (QALY)

  11. Economic Reasoning • Economics of the public health nurse labor market • Labor supply curve • Reservation wage • Individual motivation to work • Backward bending supply curve

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