Preamble / Objectives: Economics of Health and Education will introduce students to the microeconomic
foundations of health and education as economic goods. The focus of this course will be on the developing
countries’ experience with particular reference to India. We will draw knowledge from the larger literature on
human capital and human development and understand the linkages and implications.
Course Content
Microeconomic foundations of health and education: demand and supply, understanding the market for
health and education, health and development, health-income linkages, complementarities between health
and education; Market failures: social objectives and market failure, policy response, financing for health
and education; Health insurance market: the standard insurance model, group insurance and administrative
costs, informal insurance mechanisms; Returns to education: private and social returns, job market
signaling, returns to education in developed and developing countries, returns to education quality;
Education and inequality: by educational outcomes, by race and gender, ethnicity and immigrant status.
Books (In case UG compulsory courses, please give it as “Text books” and “Reference books”. Otherwise
give it as “References”.
Texts:
1. W. Jack, Principles of Health Economics for Developing Countries, WBI Development Studies, The World Bank, 1999.
2. S. Akinyemi, The Economics of Education, Strategic Book Publishing and Rights Co., 2013.
References:
1. S. Glied, P. C. Smith, The Oxford Handbook of Health Economics, OUP Oxford, 2013.
2. S. Bradley, C. Green (eds.) The Economics of Education – A Comprehensive Review, Elsevier Science, 2020
3. India’s National Health Policy, 2017
4. India’s National Education Policy, 2020
