Cost-Effectiveness and Decision Making in the Real World
Do we behave in a cost-effective manner? Why not? oUnintentional deviations from cost-effective action oIntentional deviations from cost-effective action The role of formal analysis in policy develo
Economics 353 Lecture 22
We live in a government-regulated
Government regulations can be found
everywhere and in virtually all sectors of
Why has this happened?
How can we evaluate it from a
Eco 353: Lecture 2
US Economic Growth
We are interested in the level of
output and its rate of growth.
Output can be measured as
GNP, GDP, NNP and using
GDP is preferred because it
measures the quantity of goods
and services produced in a
The Colonial Economy
Economic growth rate in 4th quarter was
5.7% (on an annualized basis).
Final sales to domestic customers rose at a
3.9% annual rate.
This is good news.
Eco 353 Lecture 8
The Beginnings of
News New York Times
The Senate and the Obama
administration are nearing agreement on
forming a council of regulators, led by the
Treasury secretary, to identify systemic
risk to the nations financial
Economics 353: US Economic
Office hours: Monday 2:30-3:30pm
Specialty: Economic Demography
Textbook, Key Pad, Wall Street Journal
Lecture 4 The Economics of the
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1783: Britains King George III declared an
end to hostilities in the Revolutionary War
Economics 353 Lecture 5
Pre-Civil War Banking
February 9, 2010
No Exit in Sight for U.S. and Fannie,
Eco 353 Lecture 6
Foreign Trade and Commercial
EU Leaders Agree on Greece Support
Why does the Greek government need
What has happened to the interest rate of
Eco 353 Lecture 7
The to edit Master subtitle style
ClickTransportation Revolution in the Ante-Bellum Period
The Greek Tragedy that Changed
Saturday Feb. 13th
Greece and Lying
Greece appears t
Eco 353 Lecture 9
Aspects of Population Growth
US Population Today (Feb.
One birth every 7 seconds
One death every 11 seconds
One international (net) migrant every 34
Net gain, one person every 13 seconds
World Population (noon
Economics 353 Lecture 20
The Great Depression
Worst period for the economy in the
history of the US.
We stand now on the verge of what could
be a recession.
Are there any similarities?
What are the differences?
Could a depression hap
Economics 353 Lecture 19
1914-1929: War, Peace,
You have never experienced a world in
which the Federal Reserve System
coexisted with the gold standard.
After 1914, this was the case.
The Fed did not have the job of stabilizing
Economics 353 Lecture 17
Money and Banking After the Civil
The Federal Reserve System is known as
Is it necessary?
Has it helped reduce the severity of
Is it a democratic institution?
Should it be a democratic in
Theoretical underpinnings of CEA Solving the resource allocation problem Basic steps in performing a CEA Further issues in CEA
Theoretical underpinnings of CEA Solving the resource allocation proble
ECO 353 Health Economics Spring 2011 GENERAL INFORMATION Instructor: Professor John Rizzo Lectures: Tuesday & Thursday 11:20AM-12:40PM Office Hours: Tuesday 2 pm-4 pm; or by appointment Office: N-637 Soc & Beh Sci Bldg Email: John.email@example.com COU
PRACTICE PROBLEMS 1. You have the following table of costs and benefits for alternative treatments Cost 100000 200000 400000 500000 Effectiveness (life years gained) 5 3 10 20
Treatment # 1 2 3 4
A. Which treatment(s) if any, is strongly dominated? 2 is s
Welfare economics and the theory of cost-benefit analysis
Cost-benefit analysis in public health & medicine A. B. C. D. CBA vs. CEA WTP vs. QALYs WTP & wealth Measuring WTP
CBA for public health & medicine Basic idea: A program (compared to some alternati
Economics 353 Lecture 11
Northern Farming Before the Civil
How much does it cost you to get a
What does it cost you or your parents for
you to get a job?
Cost of college education: tuition, room
and board, books, fees, and foregone
Eco 353 Lecture 12
Southern agriculture was not all about
Most southern farms had no slaves and in
many ways did not differ so much from
farms in the North
What was distinctive about the South was
Economics 353 Lecture 14
Northern Agriculture After the Civil
An Age of Deflation
It is hard for us to understand today, what
it was like to live in an era of deflation.
From the end of the Civil War to the end of
the 1890s, prices regularly fell.
Economics 353 Lecture 15
Railroads were the most important
technological development in terms of its
contribution to economic growth in the 19th
Was the most important development,
nevertheless, not a large contributor to
Economics 353 Lecture 16
American Industry 1865-1914
Is the US an industrial country?
What fraction of non-farm employment is
Education and Health
Third Quarter 07
Eco 353 Lecture 10
Public Land Policy
Stock Market News
Dow Jones Industrial Average Down
around 177 points or 1.7 %.
Worries about unemployment, weak
durable goods orders, and the Euro are
weighing stocks down.
FED is investigating Goldman Sach