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Health Economics Assignment help 2020

HEALTH ECONOMICS

Assignment help Economics : It is the study of human interaction with the scarce resources to satisfy their needs.

It studies the confrontation of mankind with scarce resources and the possible outcomes of

using the resources.

Health Economics Assignment help: It is a branch of economics that deals with application of economic theories

in the healthcare system of an economy. This includes the choice made by individuals regarding

the place of treatment, the providers of the treatment (doctors and hospitals) and government

intervention in the health care sector. It examines problems such as availability, effectiveness

etc., related to health care system of an economy. It studies the efficient use of scarce

resources within the health care system in order to combat sickness and improve the health of

people and protect them from further diseases.

At the microeconomic Assignment help level, it inspects how individuals choose a health care facility keeping in

mind the cost, benefits, easy availability etc. At the macroeconomic level, it analyzes how the

health care system plays a significant role in the growth and development of the economy. This

can be seen through its contribution in the national income, lessened rate of unemployment,

development in infrastructure etc., of an economy.

Features of Health Economics Assignment help

1) It can either be privately managed or owned by the government.

2) The cost of services can vary due to the kinds of disease, time period of the treatment and

provider of services.

3) The service providers cannot be held accountable for any loss due to sickness whereas a

legal action can be taken against them in case of ill-treatment.

4) The choice of health care service provider by an individual can have different outcomes.

Factors affecting Health Economics

1) Cost of the health service and income of the individual is the main factor influencing

health economics. A person drops the idea of availing a good health care service due to

its un affordable price.

2) Health facilities can be easily provided at affordable cost and within easy reach with the

help of government intervention in the health sector.

3) Education plays a major role in health economics. Lack of awareness about health care

services among the people and neglecting them can also have a dangerous effect on a

person. As seen by various experts, an economy cannot progress if the population lacks

basic health facilities. Therefore, it is necessary to educate people about health care

services.

Evaluation in Health Economics Assignment help

a) Cost Benefit Analysis: This is a technique of evaluation that involves collecting,

organizing and arranging in categories the cost of illness. It is used only when one

problem is being assessed.

b) Cost Minimization Analysis: It evaluated the cost of the service in relevance to the

benefits provided.

c) Cost Utility Analysis: It acts as a tool for the service providers to improve their services

by suggesting the interventions that will provide an individual with best value of money.

d) Cost Effectiveness Analysis: It is a way to measure the cost effectiveness of a health

service by comparing them all in terms of a single unit.

Need for Health Economics/Importance of Health Economics Assignment help

1) To make health policies for an economy that is affordable people and convenient for

health care providers

.

2) Finding out the real cost of services provided by the health care sector and its reach of

affordability and availability.

3) To analyze the effects of unavailability and high cost of health care system on the public.

4) To study the growth in health sector and its reach in all the sections of an economy.

5) It can help in expanding the reach of health care services in various sections of

population of the economy.

6) To explain the concepts of life expectancy and death rate and how they can be

controlled in an effective way.

7) It evaluates the price and benefits of a health policy to individuals and compares them

in terms of different sectors and providers.

Scope of Health Economics Assignment help

a) Disease: It provides knowledge about various diseases and ways to prevent ourselves

from them. The proper precautions that are required for a safe living.

b) First Aid: It works on various methods of first aid to be given in serious situations. This

saves time for patient and might help in case of any delays in vehicle arrival or

unavailability of sources.

c) Sanitation: It denotes the importance of sanitation in the life of an individual and gives

information about various kinds of sanitation practices a person can follow during day-

to-day activities.

d) Personal Health: It deals with issues of personal health (mental or physical) and its role

in protecting the individual from his/her surroundings.

e) Drug: Gives an insight into the drugs that cause harm to a person’s health and the

consequences of usage.

Relevance of Health Economics Assignment help

1) Analysis of Demand: The demand for health care services is dependent on various

factors like cost, duration etc., thus it studies how the demand by an individual is

affected by these determinants.

2) Man Power: It studies the amount of manpower employed in the health sector and their

contribution in the growth of the health sector as well as the economy.

3) Financial Aspects: It tries to find out the source capital source for income and

expenditure on medical tools.

Assignment help on agricultural economics 2020

AGRICULTURAL ECONOMICS

The Three Sectors of the Economy

The economy works on three tier design. The primary sector that constitutes the

agricultural sector, fishing, farming and mining that are included in the process of

extraction. The secondary sector also known as the manufacturing sector, it includes the

process of quarrying and manufacturing the goods. Also known as the service sector, the

tertiary sector consists of activities that helps in delivering the goods produced and

manufactured with the help of primary and tertiary sector. This sector is also known as the

backbone of growth in the economy.

In order for the secondary and tertiary sector to perform effectively, it is mandatory for the

primary sector to work efficiently. The primary sector is the base for the growth of other

two sectors and the proper functioning of the economy. A decline in the performance of the

primary sector would lead to a fall in the performance of the other two sectors.

Role of Agriculture Sector in the Economy

Agriculture constitutes a major section of the primary sector. Agricultural economics

studies how the how the resources are allocated and distributed in the farming sector and

how the commodity produced is distributed among the consumers. The agricultural sector

in most of the economies provides a base for their growth and development.

1) National Income of the Economy:

In economies like India, major section of the population (especially in rural areas) is

dependent on the agriculture sector for their income. But, it doesn’t mean that the

agriculture sector holds a significant place in the national income of the economy.

DISGUISED UNEMPLOYMENT: The rural people are employed mainly in the agricultural

sector but, it is not necessary that the no. of people employed is genuinely required. People

engage in disguised employment, it occurs when a person is working somewhere for

example; in a piece of land with his family of four people but the level of output achieved

can be easily attained when only three persons work for the same time on the land. This

means that the other two members of the family are disguisedly unemployed.

But, if the people start avoiding disguised employment and start working in farms where

their work contributes in the level of output, then the agricultural sector can become the

most important sector in an economy that contributes maximum in the level of national

income.

2) Root of Supply of Food:

With the rapid increase in the population, the pressure on the Agriculture assignment help sector for the

supply of food increases. If the agriculture fails to meet the demand of the economy, then a

rise in the demand with low level of supply will lead to an increase in the price of the

economy creating an inflationary spiral in the economy. Therefore, it is very important for

the agriculture sector to increase the production to save the economy from such scenarios.

3) Source of Raw Material:

Agriculture assignment help sector is the key for the proper functioning of industries especially agro- based

industries. It supplies firms like these with raw material. A decline in the supply from

agriculture can have a drastic impact on these industries as this will hamper the production

further leading to a decrease in the supply of the products made, owing to increased

demand and less supply the prices in the economy will rise.

4) Decrease in the Rate of Unemployment:

Agriculture still uses both labor and technology in a fine ratio. Focusing more on the

Agriculture assignment help sector of an economy can generate new opportunities for workers to earn.

An increase in income will increase the purchasing power of the consumers leading to a

rise in the aggregate demand in the economy that will push the producers to hire more

factors of production and thus reducing unemployment.

5) Infrastructure Development:

Development of agriculture will require a developed infrastructure for example,

roads for easy transportation, storage houses etc. This will lead to an increase in the

demand for goods and services required for the development and the aggregate

increase in the infrastructure of the economy.

6) Improvement in the Balance of Payments:

With an increased production in the agricultural sector, an economy can start

supplying the surplus to other countries. This might increase the exports of an

economy and lead to a positive BoP. This will also increase the supply of foreign

currencies in the economy.

Scope of Agricultural Economics

a) At the level of microeconomics it helps us understand the various choices a

farmer has to make before starting the production of a crop. The choices are

related to the crop; which crop to grow and which not to, its technique of

production; to use labor or technology intensive technique of production and the

choice of different kinds of inputs to be used.

It also explains how the choices made by the farmer affects the demand of the

consumer, the supply and the price of the respective commodity.

b) At the macroeconomic level, it explains how the agricultural sector has a major

effect on the level of unemployment in an economy and how it can be used as a

tool to increase the employment opportunities in an economy.

c) The progress of the agricultural sector of an economy, gives an insight of growth

of the other sectors in the economy. The growth and development of this sector

ignites a path for the growth and development of other sectors and accordingly

improving the state of the economy.

Managerial Economics Assignment help online 2020

Managerial Economics: It is the branch of education that deals with the application of

various theories of different branches of economics i.e. macroeconomics and microeconomics,

in business management. The subject gained popularity when it was first discovered and

published as a book in the year 1951 by Joel Dean. It is a perfect blend of business management

studies and economics, working in order to solve problems occurring in a firm and making

decisions accordingly.

Business Management: This involves managing a firm by analyzing its various steps,

planning, and taking decisions on how to run the firm efficiently, keeping in mind the

internal and external factors.

Economics: This is a branch of study which works mainly on how to effectively use the

scarce resources having alternative uses.

In Managerial Economics a person is taught about how to manage a firm with scarce

resources and allocating them to their best use. The manager needs to keep in mind the

company’s competitors, suppliers, producers and also the external conditions of the

economy.

Nature of Managerial Economics

In order to have complete knowledge about Managerial Economics assignment help , we need to first

understand some of its basis characteristics listed below:

a) Managerial Economics involves Art: The manager needs to have creative skills as

well as the ability to think logically on how to put resources to their best use and

make the best out of it for the betterment of the firm.

b) Managerial Economics as a Science: It is a science that involves decision making

about alternative uses of scarce resources. Same as the field of science the

conclusions are drawn from observation and continuous testing.

c) Managerial Economics as micro-economics: Similar to micro-economics, it involves

decision making at the level of an individual product or firm keeping in mind the

internal factors.

d) Managerial Economics involves macro-economics: For the better functioning of a

firm in the whole economy, certain aspects of macro-economic are required to be

considered while making decisions.

e) Managerial Economics is Pragmatic: It requires for a person to have a logical and

critical approach towards the problems faced by the firm.

f) Managerial Economic is Multi-Disciplinary-Disciplinary: It involves the use of

various tools from different disciplines for example; accounting, statistics,

marketing etc.

g) Managerial Economics is Dynamic: It involves interactions with humans as

producers, suppliers, resources therefore it is mandatory to cope up with different

personalities of people. Sometimes in order to do this, managerial economics tend to

manipulate itself over time.

Types of Managerial Economics

a) Liberal: In free play of market economy, customer demand plays a very vital role.

Thus, in order to avoid any sort of failures, the managers should keep in mind

the concept of liberal demand of customers.

b) Radical: Along with customer satisfaction, profit maximization should also be

considered important. In order to achieve that, the manager is required to have a

radical approach towards business problems.

c) Normative: It involves having a practical approach based on real life experiences,

towards administrative decisions like cost management, advertisement etc.

Principles of Managerial Economics

To run a business successfully, the manager needs to have complete knowledge about

some important principles of managerial economics mentioned below.

MARGINAL AND INCREMENTAL PRINCIPLE: The main motive of this principle is profit

maximization. According to this, a decision is said to be rational if the objective of the firm

is to increase profits. This can happen in either of the scenarios;

~ when the total revenue of the firm increases more than the total cost,

~ when the total revenue of the firm decreases less than the total cost .

OPPORTUNITY COST PRINCIPLE: This refers to the cost at which one resource is used at

the place of another alternative for example; the opportunity cost of gain of Good-A, means

loss of Good-B. The manager must decide wisely about the resources to be used in the

process of production.

TIME PERSPECTIVE PRINCIPLE: While planning on taking a decision, the manager must

separately evaluate its both; short term and long term impacts on the business. A decision

taken for progress in short run might take a disastrous turn in the long run. Therefore, both

the aspects should be studied properly.

Scope of Managerial Economics

Understanding the scope of managerial economics is the core for running a business effectively

in the long run. This can be understood clearly with the help following practices.

a) Demand Analysis and Forecasting: During the process of production, keeping in mind the

demand of the product in present as well as future is very important as the profits to be

earned by the firm and its performance depends upon this. Analyzing the demand and

forecasting helps the manger in planning about the output levels of the firm.

b) Capital Management: Large amount of money is used on firm’s expenditure and

investment. The manager needs to think critically about where to invest the money and on

what products or assets the expenditure should be incurred.

c) Profit Management: Firms are set with an aim of profit maximization. This largely

depends on the decision of setting the price of the product, investing money, cost of the

inputs etc., that prove out to be beneficial for the firm in the long run.

d) Cost and Production Analysis: Profits of a firm largely depend upon the cost of inputs

used in the process of production. Low cost of inputs lead to an increase in firm’s profits.

Therefore, it is very crucial to set the costing budget and according to the quality of product

and resources available for firm’s production.

e) Pricing decisions, Policies and Practices: Once the product is ready for sale, deciding its

right price keeping in mind the internal (cost of production) and external (demand and

supply) factors is extremely necessary as it holds a major share in a firm’s revenue. Setting

up a correct pricing policy can help the firm in achieving great heights whereas not doing

so might lead to its elimination.

For all queries related to assignments of managerial economics please visit us at

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