What are some of the metrics economists use to measure...

Name: Problem 18, Chapter 16: Principles of Microeconomics
Uploaded: 2019-08-11T22:11:19-08:00
Duration: 3 min 59 s
Channel: Mihir Nayar
Description: What are some of the metrics economists use to measure health outcomes?

Key Concepts

Disability Adjusted Life Years (DALYs)

DALYs represent the total number of years lost due to ill-health, disability, or premature death, serving as a measure of overall disease burden. By quantifying both fatal and non-fatal health outcomes, DALYs provide insights into the impact of various health conditions on society and help prioritize health interventions.

Life Expectancy

Life expectancy is a fundamental indicator that estimates the average number of years an individual is expected to live, based on current mortality rates. It provides a broad overview of the overall health status and longevity of a population, making it a central metric in health economics and public health studies.

Infant Mortality Rate

The infant mortality rate measures the number of deaths of infants under one year of age per thousand live births in a given period. It is a critical indicator for assessing the quality of healthcare systems and the overall well-being of a society, reflecting factors such as maternal health, healthcare accessibility, and socioeconomic conditions.

Quality Adjusted Life Years (QALYs)

QALYs combine both the quantity and quality of life lived by individuals into a single measure. By weighting years of life according to the quality of health experienced, QALYs allow economists to assess the effectiveness and value of healthcare interventions, making it easier to compare outcomes across different treatments and populations.

Health-Adjusted Life Expectancy (HALE)

HALE adjusts overall life expectancy by accounting for periods of time spent in less than full health. It estimates the number of years a person can expect to live in good health, thereby offering a more nuanced view of population health by incorporating both mortality and morbidity elements.

Transcript

00:01 Hey everyone, today we're solving problem number 18 from chapter 16 of the textbook, which asks, what are some of the metrics economists use to measure health outcomes? now, i'm going to, this is from chapter 16, this little section right here.

00:20 This is all from chapter 16.

00:22 And i'm going to skip into the middle of it, which says that note that while health care expenditures in the u .s.

00:30 Are far higher, far higher than health care expenditures in other countries.

00:35 The health outcomes in the united states, as measured by life expectancy and lower rates of childhood mortality tend to be lower.

00:42 So if you were wondering what the heck are health outcomes, they give examples in life expectancy and lower rates of childhood mortality, and this is known as the infant mortality rate.

00:56 So life expectancy and infant mortality rate are two examples of health outcomes.

01:00 Health outcomes, however, may not be significantly affected by healthcare expenditures.

01:05 So the united states believes that health care expenditures affects it, so that's going to be one of them.

01:16 Healthcare expenditures, but it seems like that's only in the us because it goes on to say, which i'll read after writing this.

01:30 Healthcare expenditures is a long word, so this may take a few seconds.

01:35 All right.

01:48 So just to reiterate, it says in the united states, private health care insurance tends to encourage an even greater demand for health care services, which health care providers are happy to fulfill.

02:05 So health care expenditures in the united states are higher, as it says here.

02:11 In the united states, are far higher than health care expenditures in other countries.

02:14 So the united states, economists in the u .s.

02:17 Especially may use health care expenditures...

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