This course builds upon previous knowledge of basic economic theories, concepts, and tools by applying them specifically to the health care sector. During the course, you will examine the structure, organization, activities, functions, and problems of health and medical care from a specific point of view—that of the economist. The prerequisite for this course is a basic foundation course in microeconomics. The concepts you should be familiar with from the microeconomics course are: scarcity and consumer choice, opportunity costs, marginal analysis, the theories of demand for and supply of goods and services, market structures, market interactions, pricing, cost and production functions, competitive model, market imperfections and failures, comparative advantage, self-interest, elasticity, externalities, and indifference curves.