Many students attend a graduate program in applied economics with a concentration in health economics. These students typically study applied economic theory early in the program and then focus on how to apply those theories to health care. Most programs require students to complete 10 to 12 courses with the objectives of learning how to develop economic reasoning, formulate and estimate economic models and apply econometrics and other quantitative strategies to health care.
With this type of program, students take courses in economics for a year, and then take a comprehensive exam. After passing the exam, students take courses in health science and public policy. Students then write a scholarly paper, integrating principles of economics and health science on a subject of their choice. This type of degree is consider an academic degree, rather than a professional degree and is aimed at theory and research rather than application.
Awarded as either a Master of Science, Master of Arts or a Master in Health Economics, this is a professional degree, consisting of eight to 12 courses and requiring an applied research project to demonstrate skills learned. This degree is grounded specifically in learning and applying health economic theories. Students study topics such as analytical strategies, advanced applied health econometrics, public economics, health care finance, burden of disease analysis, mortality analysis, economic development and development of health.
Programs to earn a Ph.D in health economics exist, but are limited. The objective at the Ph.D level is to equip graduates to conduct research applying economic theories to health care problems. Students specialize at this level in two areas: applied theory and economics evaluation. Students spend their first two years taking advanced courses in health economics, public policy and research techniques. During the third and fourth year, students conduct research, and in the fifth year, produce a dissertation, successfully defending the dissertation and its conclusion before a committee to earn the degree.