Health Economics Principles and Individuals' Choices

How much would you be willing to pay to ensure good health? Besides money, what would you be willing to trade to optimize your health and the health of your loved ones? Does it make sense to conceive of health in this way? Why or why not? Economic principles influence the health-related choices people make. As a health care professional, it is important to understand how individuals’ views of health and resources (such as time and money) differ from one another, and how this difference affects choices. To prepare for the Discussion: · Review the economic concepts presented in Learning Resources, including those described in Chapter 1, sections 1.3 and 1.4 (pp. 11–16), of theHealth Economics and Financing text. · · Reflect on the ideas presented in the article ” Healthy Right Up to the Day You’re Not.” What insights does the article offer about various perspectives on health and health care? · Then, consider the following questions: · o How do you, personally, define health? What have you noticed about others’ views of health? o o What choices do you make to promote your health? Consider the trade-offs you have made recently with regard to time and money. What lifestyle choices (e.g., related to diet, exercise) do you make to prevent illness and disease? What medical services and/or products have you utilized to advance your well-being? o o How do your views of time (e.g., short-term versus long-term planning) and money influence your health-related decisions? How do your beliefs about the efficacy of prevention or about quality of life affect your decision making? o o Bring to mind one or more areas of life that are not related to health or health care. How do your choices in other areas compare with the choices you make with regard to health and health care? Post by Day 4 a cohesive response that addresses the following: · Describe how the choices you make with regard to health and health care reflect the economic principles introduced this week. Provide at least one detailed example to support your response and illustrate specific concepts. · Explain how these choices are similar to and/or different from choices you make in at least one area that is not related to health or health care. Provide at least one detailed example to support your response and illustrate specific economic concepts. Read a selection of your colleagues’ postings.