Study-Unit Description

Study-Unit Description


CODE ECN4241

 
TITLE Economics of Ageing, Pensions and Health

 
UM LEVEL 04 - Years 4, 5 in Modular UG or PG Cert Course

 
MQF LEVEL 6

 
ECTS CREDITS 8

 
DEPARTMENT Economics

 
DESCRIPTION The starting point of this study-unit is an introduction of the main issues related to demographic developments over the medium to long term. In this study-unit the implications of ageing on economic growth and the sustainability of public finances will be discussed. Special reference will be made to intergenerational transfers and pensions with emphasis on the role of the state, the set up of different pension systems and a discussion on the different options related to pension reform.

The unit also focuses on the fundamental and economic principles related to health and health care with an emphasis on the economic underpinnings of decision making in health care. Special reference will be made to the principal structures which make up a health care system and to the dynamics of economic behaviour of key players within the sector.

- Weeks 1-3
The role of population changes and demographic developments; theories of demographic transition; estimation of dependence ratios. Theories of intergeneration transfers; review of different pension systems.

- Weeks 4-7
Impact of ageing on the labour force and productivity; impact of ageing on health care and informal care. A number of case studies will be reviewed with special reference to the Maltese case.

- Weeks 8-11
Basic Health Care economic tools, the demand and supply of Health care and production of costs of health care. Markets and market failure, health insurance and health care financing.

- Weeks 12-14
Key Players in the health care sector, Government, Private health insurance industry, Pharmaceutical industry, Physicians. Economic evaluation methods in Health care and measuring and valuing health care output.

Study-Unit Aims:

The aim of this study-unit is to provide students with an overview of the main issues related to pensions, ageing and health. The study unit provides the necessary theoretical and empirical tools to analyse the implications of ageing particularly on the provision of pensions and health care. The unit aims to provide students with the necessary tools for a better understanding of the current issues and future challenges in this area of economics.

Learning Outcomes:

1. Knowledge & Understanding
By the end of the study-unit the student will be able to:

- Better link demographic, economic and social developments to the problems related to the ageing of the populations;
- Describe the nature and scope of the economic issues of ageing;
- Identify the conceptual and theoretical bases of the economic analysis of issues related to the ageing of the population and the provision of health care;
- Analyse and understand the behaviour and interaction of key players in the health sector;
- Demonstrate knowledge on the different forms of pension and health systems which exist in different countries and on the different reform options applied within various countries.

2. Skills
By the end of the study-unit the student will be able to:

- Apply his or her knowledge to the understanding of current issues and problems in this very important area of study;
- Critically analyze decisions taken by policy makers in this sector;
- Link issues related to pension reform and health care systems reform with economic policy developments at EU level;
- Develop an appreciation for political economy, and hence the link between Economics and other related disciplines.

Main Text/s and any supplementary readings:

- NICHOLAS, B., 2003. The Welfare State as Piggy Bank. New York: Oxford University Press.
- STEPHEN, M., DEVLIN, N., PARKIN, D., 2007. Economic Analysis in Health Care. England: Wiley.
- FOLLAND, S., ALLEN, C., STANO, M., 2017. The economics of Health and Health care. New Jersey: Pearson.
- SANTERRE, R., NEUN, S., 2010. Health Economics Theory, Insights and Industry Studies. South-Western: Cengage Learning.
- EUROPEAN COMMISSION and the ECONOMIC POLICY COMMITTEE (AWG) (2018)., The 2018 Ageing Report: economic and budgetary projections for the EU-28 Member States (2016-2070). Luxembourg: Publications Office of the European Union, Available: https://ec.europa.eu/info/publications/economic-and-financial-affairs-publications_en.

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Sept. Asst Session Weighting
Assignment Yes 20%
Examination (3 Hours) Yes 80%

 
LECTURER/S Carl Camilleri
Godwin Mifsud
Philip Von Brockdorff (Co-ord.)

 

 
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit