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Economic Evaluation III


East Baltimore
3rd term
Health Policy and Management
3 credits
Academic Year:
2021 - 2022
Instruction Method:
Class Times:
  • Wednesday,  3:30 - 6:20pm
Auditors Allowed:
Grading Restriction:
Letter Grade or Pass/Fail
Course Instructor:
Emmanuel Drabo

Economic Evaluation I (313.601.01) and II (313.602.01)


Cost-effectiveness analysis (CEA) is a multidisciplinary science which aims to systematically and rigorously compare health interventions to reach optimal decision-making. Rooted in economic theory, decision science and statistics, CEA (and related methodologies) continue to evolve into a diverse toolkit of techniques that allow us to better quantify costs and effects of healthcare technologies and public health interventions.

Builds upon the theoretical concepts taught in Economic Evaluation I-II by providing advanced content in the areas of decision analysis, cost-effectiveness, and alternative approaches of modeling research questions for these fields. Include approaches for calculation of costs and effectiveness measures using standard modeling methods. Compares outputs as a result of decision tree and Markov modeling and introduces sensitivity analysis. Includes group projects to produce a well-thought model on a topic of their own choosing in decision analysis or cost-effectiveness.

Learning Objectives:

Upon successfully completing this course, students will be able to:

  1. Differentiate between decision analysis and cost-effectiveness analysis modeling methods
  2. Determine the costs, effectiveness measures, and health outcomes associated with economic evaluation of public health topics
  3. Construct decision trees and Markov models
  4. Produce valid comparative results of economic evaluation(s)
  5. Analyze uncertainty through the use of Bayesian multivariate probabilistic sensitivity analysis
Methods of Assessment:

This course is evaluated as follows:

  • 30% Lab Assignments
  • 30% Final Exam
  • 40% Group Project(s)

Enrollment Restriction:

Undergraduate students are not permitted in this course

Instructor Consent:

Consent required for some students

Consent Note:

Required if Economic Evaluation II was not completed

For consent, contact:

Jointly Offered With:
Special Comments:

Since participation is a critical component of this course, the instructor suggests that students should register for a letter grade. In addition, this course is intense in programming with Microsoft Excel and Visual Basic Code; students should be comfortable performing these computing methods to satisfactorily complete the course.