On Campus
12 x 1.5-hour lecture per semester
9 x 1-hour practical per semester
3 x 1.5-hour computer lab per semester

Distance Online
12 x 1.5-hour online lecture per semester
9 x 1-hour online exercises per semester
3 x 1.5-hour online exercises per semester
Critical review, Economic evaluation plan, Tests
Topic description
This topic is designed to cover key issues and examples relevant to economic evaluations of health technologies and the role of economic evidence to inform public funding decisions. Health technologies can include pharmaceuticals, diagnostic tests, medical procedures and devices, and lifestyle interventions. First, the topic will introduce key concepts in economic evaluation (e.g. opportunity cost) and the role of economic evidence in the decision-making process. Then the key elements of economic evaluation, including costs and health outcomes (e.g. quality-adjusted life-years: QALYs) will be discussed. From developing an understanding of key elements, the topic will cover how to design economic evaluation, how to present and interpret the findings of economic evaluation, and how to use economic evidence to inform public funding decisions. The topic will also introduce students to modelling approaches for economic evaluation to estimate long-term costs and outcomes of health care interventions. This topic will include

The topic will be split into five modules. Each module will include a set of interactive lectures (with multiple choice and short answer questions), and a number of problem-solving group exercises using real world examples.

Module 1: Key concepts in economic evaluation and building blocks of economic evidence

Module 2: Health outcomes and costs in economic evaluation

Module 3: Designing an economic evaluation alongside clinical trials and observational studies

Module 4: Introduction to model-based economic evaluations and uncertainty analysis

Module 5: Interpretation and use of economic evidence to inform policy decisions (including critical analysis of published economic evidence)
Educational aims

This topic aims to:

  • Equip students with practical and applied knowledge of economic evaluation at both introductory and more advanced level
  • Extend students' understanding of key inputs into health care decision-making including economic evidence which is used to inform public funding decisions
  • Equip students with the practical knowledge to design and conduct basic economic evaluation, interpret economic evidence, and critically appraise the quality of published economic evaluations
Expected learning outcomes
On completion of this topic you will be expected to be able to:

  1. Understand and interpret the key concepts in economic evaluation
  2. Understand and appropriately interpret the key steps in conducting economic evaluation including model-based evaluations
  3. Identify, value and analyse health outcomes and health care resources
  4. Understand the key inputs into decision making and the role of economic evidence to inform public funding decisions
  5. Apply key steps in critically appraising published health economic evaluations
  6. Develop and apply skills to design an economic evaluation and communicate the findings in a concise manner