Pharmacoeconomics Notes Archive

Pharmacoeconomics Notes Archive - Pharmacoeconomics...

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Pharmacoeconomics Thursday January 24, 2008 Handouts: Received syllabus, which contains course information. Lecture: Mainly an introduction to the class. Economics deals with the fair and equitable distribution of resources. Economics is geared towards “wants” more than “needs”. Unlimited wants Vs. limited resources is the reason economics exists. An example of this is a bag of candy containing 30 pieces and 45 students who want candy. Resources are always limited/scarce. Tuesday January 29, 2008 Handouts: None Lecture: Economics exists because resources are scarce. These resources are Land, Labor, Capital, and Entrepreneurship. Land is a resource because everything requires land (factory space, crops). There is a finite amount of land to be used for an infinite number of things. Labor is limited because it takes training and skill to perform labor, and there are never enough workers. Capital is the main means. Capital means both money and assets including factory equipment. Entrepreneurship are the ideas and skills of business that add to making a business profitable.
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