Briefly summarize the issue(s) raised in the assigned articles.
Describe the economic concept of opportunity cost (it may help to refer back to your notes from LECTURE-01). What is the opportunity cost of excessive health spending in the public sector, e.g. spending on Medicaid and Medicare, government workers’ health insurance, and other health programs? What is the opportunity cost of excessive health spending for individuals?
Explain how rising health care costs may contribute to inequality in health care and health outcomes.
Discuss the relative contributions of price and volume (quantity demanded) to the problem of high and rising health care spending in the United States.
Propose at least one policy or program that may help to reduce health care spending in the United States. Explain how this strategy will control costs, e.g. by changing prices and/or reducing volume.
