m.a. economics

 The Economic dimensions of health care includes its Demand and Supply.                                             DEMAND FOR HEALTH CARE   The demand for healthcare is a derived demand from the demand for health. Healthcare is demanded as a means for consumers to achieve a larger stock of "Health Capital". The Demand for health is unlike most other goods because individuals allocate resources in order to both consume and produce health. Demand for health care can be viewed from two angles viz. a) The time devoted to preventive and curative measures of health care and b) The cost of establishing the health-care services which depend upon the infrastructural needs. In the light of this, demand for health care, like in education, acquires connotation both as a CONSUMER GOOD as well as an INVESTMENT GOOD. It is a CONSUMER GOOD because its consumption makes the consumer f...

 Health is the holistic process related to the overall growth and development of the nation. Public health refers to the health status of all people of a country. HEALTH INFRASTRUCTURE It includes:- 1) Hospitals 2) Doctors 3) Nurses 4) paramedical professionals 5) Beds, equipments The health infrastructure should be accesssible to all the people. THREE-TIER HEALTH SYSTEM 1) Primary Health care:- It includes     a) Education concerning prevailing health problem and methods of identifying, preventing and                          controlling them.     b) Proper nutrition and adequate supply of water and basic sanitation.     c) Maternal and child-care     d) Immunition against major contagious diseases     e) Promotion of mental health     f) Provision of essential drugs     g) Setting up of Primary health centres, community health centres in...

 There are two ways in which benefits  are mainly classified:- Direct and Indirect Benefits, Private and Social Benefits (1) DIRECT AND INDIRECT BENEFITS:- Life-time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in agriculture that assist in stepping up productivity is another illustration of DIRECT BENEFITS. Development of attitudes favourable for savings, small family, modernisation, development response, rational outlook, scientific temper, democratic behaviour etc. are instances of INDIRECT BENEFITS. (2) PRIVATE AND SOCIAL BENEFITS:- Private benefits are those which accrue to an individual. They may be both monetary and non-monetary, direct and indirect. Earnings of an individual is an illustration of DIRECT PRIVATE BENEFIT. Development of desired attitudes, level of confidence, a balanced personality structure and healthy leisure time interests of life are illustrations of INDIRECT OR NO...

 WASTAGE It refers to the phenomenon of under or non-utilisation of a product by the stakeholders for whom it was produced. Such under/non-utilisation eventually results in the appreciation/increase of the unit cost of Production. The resources employed for production gets wasted. For eg:- A school is set-up with a capacity to enroll, let us say 250 children in I to VIII standards. All facilities are established for this purpose. There are 250 children of school-age, 6-14 yrs. If there is no full enrolment of children, to that extent there is Wastage. If after enrolment, children leave school midway before completing the specified no. of years of stay/study, again there is Wastage. Hence, non-enrolment and drop-out of children constitutes wastage in education. Nearly 50% of total enrolment in general/higher education in India is in B.A. degree courses. There are both private and public expenditure on accessing this degree. However a large number of people with B.A. qualifications r...

 Cost of Education is the cost incurred by the Government and the household sector on education. It is further divided into two parts:- Private cost and Social cost (1) PRIVATE COST:- Private cost is incurred either by the individual, or parents or both. It is further divided into:- Direct Private Cost and Indirect Private Cost. Direct Private Cost is the expenditure incurred directly by the household for the education of individual. It is the expenditure on schooling borne by the household. Besides expenses on fees, books, stationary and equipment, boarding and lodging payments, conveyance, transport and entertainment those on private tuition and coaching as well as pre-admission expenses are also included. Indirect Private Cost measures the opportunity cost of earnings foregone by the student because of joining an educational course. It is also termed as Hidden Cost. It values the time that student has allocated to studies. It quantifies the value of leisure foregone in pecuniary...

DEMAND FOR EDUCATION Educational needs and aspirations of a population measured in monetary terms constitute demand. Demand is also associated with the capacity to pay for the expected services. A person willing to pay for a good or service is said to make an 'EFFECTIVE DEMAND'. The demand for education is further divided into:- 1) PRIVATE DEMAND:- If the educational needs and aspirations are felt, experienced and expressed by parents, their wards or consumers in general, then it is known as Private Demand. # DETERMINANTS A) Gender B) Regional Disparity C) Linkages with Employment D) Unemployment Rate E) Waiting time for employment F) Non- Monetary Benefits G) Ability to Pay 2) SOCIAL DEMAND:- If the educational needs and aspirations of a population measured in monetary terms are felt, experienced and expressed by a state, or an organised establishment of society, then it is known as Social Demand. #DETERMINANTS A) Equity B) Economies of Scale C) Externalities D) Excellence SUP...

 Human capital and Physical Capital are compared on the following basis:- 1) MEANING:- Physical capital implies the non-human assets of the company, such as plant and machinery, tools and equipment, office supplies etc. that help in the process of production. Human Capital refers to stock of knowledge, talent, skills and abilities brought in by the employee, to the organisation. 2) NATURE:- Physical capital is tangible in nature whereas Human Capital is intangible in nature. 3) FORMATION:- Physical Capital is formed by economic and technical process. Human Capital is formed by social process and conscious decision of the possessor. 4) TRADABILITY:- Physical Capital can be traded in the market. Only the services of human capital can be sold. 5) SEPARABILITY:- Physical capital is separable from its owner whereas Human Capital is not separable from its owner. 6) FINANCIAL STATEMENT:- Physical Capital is shown in financial statement whereas Human Capital is not shown in financial state...

Human capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labour so as to produce economic value. According to T.W. Schultz, there are 5 ways of developing human Capital:- 1) Health facilities and services 2) On-the-job Training 3) Formal Education 4) Study programmes for adults 5) Migration  Good Human Capital produce other Human Capital. So, investment in human capital is a need for economic development of a country. # IMPORTANCE OF HUMAN CAPITAL In the present day, emerging economies like India the significance of human capital arises from the following: (1) 21 st  century will promote people who respond to technology. It will reject those who refuse to move fast enough. 2) There is a technological shift to knowledge-based, brainpower industries. Smart countries are those who attempt to make themselves attractive to the brainpower industry by educating their people and creating the required b...