DEFINITION OF TERMS

Health

Is the level of functional or metabolic efficiency of a living being. In humans, it is the general condition of a person's mind, body and spirit, usually meaning to be free from illness, injury or pain

Economics

is the social science that analyzes the production, distribution, and consumption of goods and services.

Health economics
Is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and health care. In broad terms, health economists study the functioning of the health care systems as well as health-affecting behaviors such as smoking.

Microeconomics
Is a branch of economics that studies the behavior of how the individual modern household and firms make decisions to allocate limited resources. Microeconomics examines how these decisions and behaviours affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.

Macroeconomics
Is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy.

Economist

Is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy

RELATIONSHIP OF HEALTH IN ECONOMICS

Human health is determined by a number of different factors, but a large number of them are economic. Although we tend to think of changes in human health--usually improvements--as being the result of changes in medical knowledge and technology, the role of medicine in advancing human health is actually very small. A number of large studies by WHO, the RAND Corporation, and many epidemiological studies, has consistently found that the differences in health between individuals--that is, the answer to the question "Why are some people healthier than others?"--is determined primarily by four things: (1) post-secondary education, (2) personal income and wealth, (3) health behavior (following a health lifestyle, etc.), and (4) genetic inheritance. These four alone account for 8590% of the variations in health status. The remaining 10% is shared by a variety of other influences, including the type of job a person holds, what type of neighborhood they live, and health services. Yes, the health care system accounts for only a fragment of 10% of health differences between people. For the purpose of simplicity, think of it as about 3%.

To illustrate this, suppose you take two identical twins and give them the same resources in the big four categories mentioned above. They are twins, so have they same genes. Then let's suppose they both have Master's degrees, have roughly the same income, and generally follow what could be called a health lifestyle. Then suppose that Twin A has access to unlimited universal health care, and Twin B has to pay for all her health care, either out of her pocket or through a stingy insurance program with high deductibles and limited coverage. The access to health care is then the only main difference between these women. If you follow them over the course of their lives, the result is that you would see only a slight advantage in health for Twin A, the so-called 3% difference. As a quick conceptualization, think of it this way: Twin B has a few more sick days per year than Twin A, or gets colds that last one day longer than Twin A's. Those are just examples. The point is that the difference in health would be fairly small. This runs counter to what most people believe: first, that improvement in medical knowledge and technology are the main cause of improvements in human health, and second, that it is essential to an individual's health to have extensive access to health care. In fact, the reasons humans live longer and are so much healthier than they were a century ago (in most parts of the world) is that they are wealthier and have access to more resources of any kind overall, not just health care. To illustrate this again, imagine that the same twins, A and B, are as described above, except that Twin A (who has access to universal health care) never got any education beyond high school, and as a result has a lower income. You would immediately see a big difference in health status between the two women. Twin A would be more likely to smoke, would have less of a long-term

focus on her individual health, and would hold jobs with higher stress and greater risk of injury, despite her increased access to health care. As I said before, we tend to think that we are healthier because of medical advances, but in fact the equation goes more in the opposite direction. As we get healthier and live longer due to our growing wealth, we tend to develop higher expectations about the quality of life and the kinds of services that should be available to us. We become more concerned about non-fatal illnesses that reduce the quality of life, such as depression and obesity, and less concerned about health risks Oxygen.

BASIC NEEDS The basic needs approach is one of the major approaches to the measurement of absolute
poverty. It attempts to define the absolute minimum resources necessary for long-term physical well-being, usually in terms of consumption goods.

Water Food Sleep Sunlight Protection from extreme temperatures Excretion of waste

HEALTH AS A RIGHTS Every country in the world is now party to at least one human rights treaty that addresses healthrelated rights. This includes the right to health as well as other rights that relate to conditions necessary for health. The role of the Health and Human Rights Team is to:

Strengthen the capacity of WHO and its Member States to integrate a human rights-based approach to health. Advance the right to health in international law and international development processes. Advocate for health-related human rights

The right to health is the economic, social and cultural right to the highest attainable standard of health. It is recognised in the Universal Declaration of Human Rights and International Covenant on Economic, Social and Cultural Rights.

HEALTH AS INVESTMENT Health Care Investment is a venture management, funding and governance firm driven by deep industry knowledge and proven management principles. Our focus is solely on entrepreneurship in the health care information technology and informatics sectors. We advance innovation by managing context-determined risk using an adaptive management method, and govern by influencing resources along the course of action.

SUBMITTED TO: MRS. GEMMA BRINOSA SUBMITTED BY: CATHLEEN JOY E. MENDOZA BSN-III