Introduction: What is Economics? Scope and subject matter of economics, scarcity and efficiency, free goods vs. economic goods, microeconomics vs. macroeconomics, different economic systems (market economy, command economy, mixed economies), Key problems of economic organization (what, how, whom), revolution of microeconomics, the production possibility frontier: (definition, derivation of PPF, productive efficiency, and various economic processes)
Basic elements of demand: What is demand? Law of demand, demand function, factors affecting the demand, demand schedule, demand curve, shifts in demand, movements along the demand curve, market demand.
Basic elements of supply: Definition of supply, law of supply, supply function factors affecting the supply, supply schedule, supply curve, shifts in supply, movements along the supply curve.
Market: Supply and demand interaction; market equilibrium
Elasticity of demand: Definition, types of elasticity and its measurements, factors affecting elasticity of demand, relationship between elasticity of demand and revenue generation.
The theory of consumer behavior: Marshallian demand theory, basic assumptions, law of diminishing marginal utility, law of equi-marginal utility, consumer equilibrium, derivation of demand curve through Marshallian approach.
Indifference curve approach: Basic assumptions, law of diminishing marginal rate of substitution, indifference curve, indifference map, budget line, consumer equilibrium, PCC, ICC
The theory of firms: Production function, factors of production, short run and long run, total product, marginal product, average product, law of diminishing marginal product, returns to scale,
The theory of costs: Concepts of costs, fixed cost and variable cost, derivation of short run and long run cost curves (TC, MC, AC, AVC, TVC, TFC), relation between different types of cost curves
Market structure: Definition and characteristics of different markets Perfect competition: Behavior of a competitive firm, short run equilibrium of a firm in the competitive market, long run equilibrium, industry supply curve, break-even point, shut down point
Monopoly market: Behavior of a monopolist, mark-up pricing, short run and long run equilibrium of a monopolist, consumer and producer surplus, dead weight loss of monopoly
Basic Concepts, Real Number and Set Theory: Definition of variables, equations etc., integer, fractions etc., definition of Set & set relationships, operations on Set, laws of operation of Set, Cartesian product, relation & function
Theory of Set: Definitions (set, element, finite infinite, null unique, equal, equivalence, subset, comparability, disjoint, family, power, universal, Venn diagram, representation of sets, basic operations (union, difference, intersection), De Morgan's law, idempotent law, identity law, partition numbers and elements of sets etc.)
Laws of Indices, Graphs, Static Market Equilibrium: Laws of Indices, slope, intercept, definition of equilibrium, partial market equilibrium linear model & equilibrium solution, partial market equilibrium non-linear model, general market equilibrium model (two commodity), equilibrium in national income analysis.
Comparative Static Analysis: Concepts, difference quotient, derivative, derivative & Slope, the concepts of limit, rules of inequalities, absolute value, solution of inequality, continuity of a function & differentiability of a function.
Differentiation: Rules of differentiation & practice, partial differentiation, economic application (marginal & average functions, relationship between total, marginal and average concepts).
Differentiation & Comparative Static Analysis: Application to comparative static, analysis (market model, national-income model), differential and derivatives, differential and point elasticity, total differential, rules of differentials, total derivatives, implicit function rules, inverse function rules.
Introduction: Statistics defined uses of statistics, scope of statistics, data and their types, variables and their classification, classification of statistical techniques, measurement scales /levels.
Presenting data: Data processing and summarizing, frequency distribution, tabulation of data, graphical presentation of data (histogram, frequency polygon, bar diagram, pie chart, leaf-stem, Box –Jenkins, etc.)
Measures of central tendency: Central tendency, measures of central tendency (mean, median, mode).
Measures of dispersion: Dispersion/variability, measures of dispersion (mean deviation, quartile deviation, standard deviation & variance), moments and skewness /kurtosis.
Simple correlation and regression: Scatter grams, the regression line, correlation coefficient, uses of correlation and regression, method of least squares, linear regression, regression of X on Y, regression of Y on X.
Concept of health: WHO definition of health, positive health, changing concept of health, health sickness spectrum, concept of well-being, component of well being
Concept of disease: Definition, ecological triad of disease, disease cycle, spectrum of disease, diseases causation theories, health problem of Bangladesh, international classification of disease
Concept of disease prevention and control: Level of prevention, concept of control- elimination and eradication, herd immunity, EPI, NID.
Introduction to communicable disease: Disease chain; principle of prevention and control of communicable disease; disease of GIT, respiratory, STD, arthropod diseases.
Non-communicable diseases: Risk factor s for NCD, HTN, CHD, DM, cancer
Food and Nutrition: Definition of food – nutrition – diet, division and sub division of nutrient, source-requirement- deficiency of vitamin & minerals, dietary goals, nutritional status assessment method, nutrition program of Bangladesh (child obesity, women obesity).
Maternal and child health care: Definition, components of MCH, antenatal care, intranatal care, postnatal care, high risk mother, Kangaroo mother care, indicators of MCH care, new born care, neonatal care, identification of at risk infants, clear term – low birth weight, very low birth weight and small for date babies. Feeding of infants, growth and monitoring (growth chart), child health problems, IMCI
Basic demography: Demography statistics- CBR, CDR, death rate, birth rate, GFR, TFR, GRR, NRR, growth rate
Leading diseases for death for Bangladesh
Principles of Economics II |
Course Title: Principles of Economics II
Course Credit: 4
Introduction: Basic concepts of macroeconomics- what is macroeconomics, how do we aggregate?
Macroeconomic markets: Introduction to macroeconomic markets and issues such as consumption, investment, unemployment, inflation, foreign debt, exchange rates, interest rates, govt. budget deficit, trade-offs and Tinbergen‘s rule.
Measuring aggregate output and the price level: Circular flow of income; injections and leakages. GDP, GNP, difference between GDP and GNP, three alternative ways of measuring GDP, the accuracy in measured GDP, the CPI and the GDP deflator.
Aggregate demand and aggregate supply: Short-run and long run aggregate supply, shifts in aggregate demand and aggregate supply curves, macroeconomic equilibrium.
Aggregate expenditure decisions: Private consumption, private investment, government purchases of goods and services, net exports, autonomous and induced expenditure.
Equilibrium expenditure and output: The autonomous expenditure multiplier, relationship between the aggregate expenditure and aggregate demand curves; derivation of the aggregate demand curve.
Money and banking: The economic functions of financial intermediaries, how banks create money, the simple money multiplier, the Central Bank and open market operations.
Unemployment: Some definitions-labour force participation rate, frictional, structural and natural unemployment, Beveridge curve, causes and types of unemployment.
Inflation: Anticipated and unanticipated inflation, costs of inflation, demand- pull and cost-push inflation.
Introduction to medical sociology
Sociological perspectives on health
Who gets sick?
Meanings of illness and disability
Medicalization, social control & the sick role
Medicine as a profession
Complementary and alternative medicine
Other ways of organizing health care: what do other nations do?
Expansion of Functions: Maclaurin and Taylor series.
Optimization: Optimum values and extremum values, relative extrema, 1st & 2nd derivative test, n-th derivative test, optimization of multivariable functions; the differential version, quadratic forms, optimization with equality constraints- the Lagrange multiplier (examples from health sector)
Matrix Algebra: Definition, terms & concepts, matrix Operation (addition, subtraction & multiplication), laws of operation (commutative, associative
&distributive law), identity matrices & null matrices, transposes & inverses & their properties, condition for nonsingularity, rank matrix, determinant and nonsingularity, evaluating determinant, Laplace expansion for higher order determinants, properties of determinant, solving linear equation with Inverse, Cramer‘s rule, application to market model, application to national- income model, application of consumer, producer theory, and welfare economics.
Economic Dynamics and Integral Calculus: Dynamics and integration, rules of integration, properties of integrals, indefinite and definite integral, integration by substitution and by parts; area under a curve, improper integral, some economic applications of integral, consumer and producer surplus measures, Domar growth model (examples from health sector)
Continuous Time: First order differential equation; first order linear differential equations, dynamics of market price, exact differential equation, Solow growth model.
Discrete Time: First Order difference equations; discrete time, difference, difference equations, solving a first order difference equation, the dynamic stability of equilibrium, the Cobweb model, second order difference equation
Introduction to Statistical Inference: Basic concepts of statistical inference, the nature of statistical inference, sampling distributions, properties of sampling distributions, derivation of sampling distributions
Experimental Derivation of Sampling Distributions: Sampling distribution of sample proportion of successes, sampling distribution of sample mean
Probability: Introduction; basic concepts in probability, three types of probability, probability rules, probabilities under conditions of statistical independence, probabilities under conditions of statistical dependence (examples from health sector)
Probability distributions: Probability distributions and random variables; The Binomial distribution, Poisson distribution, normal distribution, standard normal distribution; properties of the standard normal distribution.
Sampling: Sample, census and sampling, sampling techniques, errors & biases in sampling; sampling distribution (examples from health sector)
Theoretical Derivation of Sampling Distributions
Test of hypothesis: Design and evaluation of tests, distribution of selected test statistics
Estimation: Methods of estimation, point estimates, confidence intervals, significance tests
The Theory of Consumer Choice: Budget constraint, preference, utility, choice, demand- price consumption curve and demand curves, income consumption curve and Engel curve, Slutsky‘s equation: Income effect and substitution effect, the theory of revealed preference (examples from health sector)
The Theory of Production: The production function, homogeneous production function, properties of linear homogeneous production function, stages of production and health production function; technological constraints, iso-cost, Isoquant, producer‘s equilibrium, expansion path, derivation of the cost curve from the production function, technological progress.
Cost minimization: Returns to scale and the production function, different types of cost, cost curves and their interrelationship: Long run and short run view (examples from health sector), the long run ‗Envelope curve‘, economies and diseconomies of scale
Perfect Competition: The supply decision of a competitive firm; short run and long run view, profits and producers’ surplus, industry equilibrium in the short and long run.
Monopolistic competition: Product differentiation, equilibrium of the firm, comparison with pure competition
Monopoly: Price discrimination, natural monopoly, multiplan monopolist, bilateral monopoly
Exchange: The Edgeworth box, Pareto efficient allocation, Walras‘ law, equilibrium and efficiency, first and second welfare theorem
Classical theory: Classical System (I) The classical revolution, production and employment according to classical theory, derivation of vertical AS curve. Classical System (II) Quantity theory of Money
Keynesian theory: Simple model of determination of equilibrium income (the autarky economy without government), inventory investment, consumption and savings function, multiplier, effects of fiscal and monetary policies the autarky economy with govt.), balanced budget multiplier.
Interest rate determination: The demand for money; transaction, precautionary and speculative demand, interest rates and bond prices, supply of money, money market equilibrium.
The IS-LM Model: Equilibrium in the commodity market: The IS curve, equilibrium in the money market; the LM curve, the money multiplier, demand for money-liquidity preference theory; derivation of the IS and LM curves, impacts of contractionary and expansionary monetary and fiscal policy on the IS and LM curve, crowding out effect, liquidity trap; derivation of aggregate demand curve and prices; aggregate supply, classical Vs Keynesian theory
Growth theory: The Economy in the very long run- impact of capital accumulation, Population, growth and technological change
Techniques of Planning and Management Decision Analysis |
Course Title: Techniques of Planning and Management Decision Analysis
Course Credit: 4
Linear Programming: Decision problems, formulating a decision problem into a linear programme, solving linear programming graphically, infeasibility, unboundedness and redundant constraints.
Duality and Sensitivity Analysis in Linear Programming: Duality, solving the dual using the solutions of the primal, sensitivity analysis.
Network Analysis: Network optimization problems, representing the problem as a network, formulating the problem as a linear programming, the maximum-flow problem, Fictitious nodes: solving transportation problems, maximin objective function. Integer Programming and Goal
Programming: Formulating an Integer linear programming (ILP), solving an ILP, goal programming; target values and penalties, formulating the goal programming.
Single Stage Decision Problems: Structuring decision problems., solving decision problems, taking account of attitude to risk, some problems with expected utility theory.
Multi-Stage Decision Problems: Multi-stage decision problems, the value of perfect information, expected value with perfect information, sensitivity analysis, the value of experimental information: Prior analysis, revising prior probabilities, expected value of experimental information, sensitivity analysis.
Decision Making Using Sample Information: Decision making with the proportion, decision making using the normal distribution. Decision theory and traditional statistics.
Markov process, Simulation. Activity Analysis.
The public sector in a mixed economy: The economic role of government, what or who is the government, thinking like a public-sector economist, disagreements among economists
Market efficiency: The invisible hand of competitive market, welfare economics and pareto efficiency, analysing economic efficiency
Market failure: Property rights and contract enforcement, market failures and the role of government, redistribution and merit goods, two perspectives on the role of government
Tax incidence and optimal taxation
Efficiency and equity: Efficiency and distribution trade-offs, analysing social choices, social choice in practice, three approaches to social choices, alternative measured of inequality- the Lorenz curve, the Dalton-Atkinson measure
Public goods and publicly provided private goods: Public goods, publicly provided private goods, efficiency conditions for public goods, efficient government as a public good, the leftover curve, measuring the welfare cost of user fee
Public choice: Public mechanisms for allocating resources, alternatives for determining public goods expenditures, politics and economics
Public production and bureaucracy: Natural monopoly- public production of private goods, comparison of efficiency in the public and private sectors, sources of inefficiency in the public sector, corporatization, a growing consensus on government‘s role in production
Externality and the environment: The problem of externalities, private solutions to externalities, public sector solutions to externalities, protecting the environment- The role of government in practice
Health care: Rationale for a role of government in the health care sector, reforming health care
Social Insurance: The social security system, social security, private insurance and market failures, should social security be reformed, reforming social security
Welfare programs and the redistribution of income: Rationale for government welfare programs, analysis issues, welfare reform- integration of programs
Education: Why is education publicly provided and publicly financed, issues and controversies in education policy, aid to higher education, how should public educational funds be allocated
Government expenditure and financing of Bangladesh
Economics of Health Care I |
Course Title: Economics of Health Care I
Course Credit: 4
Introduction to Health Economics: Definition of Economics, causes of market failures and need for health economics, definition of health economics, the history of health economic thought, the scope and importance of health economics, factors accounting for the growth of health economics, important institutional features of health care
Demand for Health Care: Demand, profits and health policy targets, consumer choice theory, demand functions, modelling choices about health, needs, wants, demands, asymmetry of information and imperfect agency, aggregate demand for health care
Production and cost of Health Care: The theory of production, Multi- product firms, returns to scale, additivity and fixed factors, costs
Supply of Health care: Firms, markets and industries in the health care sector of the economy, structure, conduct and performance in health care industry, profit maximization models, goals other than profit maximization
Markets, Market failure and the Role of Government in Health Care: Using perfectly competitive markets to allocate resources, market failures in health care (externalities, caring externalities, market power, public goods, information imperfections), government intervention in health care, government failure
Agency relationship and supplier induced demand: Agency relationship and Information asymmetry, market for lemons, Imperfect agent and supplier induced demand (SID), different models of supplier induced demand
Macroeconomics and health: Investing in health, the relationship between ill health and poverty
The basics of international trade: The absolute advantage theory – comparative advantage theory of opportunity cost, gains from trade as explained by a comparison of production and consumption possibilities frontiers under different international prices.
Trade theories: The Heckscher – Ohlin Trade Model, relationship between factor richness and specialization in production, factor intensities of imports and exports as expected on the basis of relative availability of the factors of production, the Leontief Paradox, factor price equalization between trading countries under conditions of partial and complete specialization in production.
The offer curve: Import-export possibilities as expressed through offer curves and the determination of international equilibrium through the use of offer curves.
Terms of Trade: Conceptual Issues; trends in terms of trade experienced by developed industrialized countries and the less developed agricultural countries, the strategy of import substitution, as against the strategy of export promotion, for the attainment of development by less developed countries.
The theory of protection: Tariffs in a partial equilibrium setting, impact of tariff on domestic production, prices, imports and consumption, effect of tariffs on income distribution, tariffs and terms of trade, preferential trading arrangements among countries, various types of integration, the theory of customs union, static and dynamic effects, trade creation and trade diversion, rationale for regional trade agreements among developing countries, discussion on recent WTO negotiations.
Balance of payments and financial issues: Elements in the current account, balance of payments on current account, elements in the capital account, autonomous transactions, deficit and surplus in current account, accommodating transactions and the overall balance.
Foreign trade and national income
Market for Foreign Exchange: Demand and Supply of foreign exchange, fixed and flexible exchange rates.
Trade in health services Trade issues of Bangladesh
Introduction: Historical background of health and Public health, concept of health and public health, Some basic definitions in public health, public health definition and models, essential public health functions (WHO)
Determinants of Health: Different types of indicators.
Health for all (HFA): Primary Health Care, Concept and components, Essential Services Package (ESP). Bangladesh ESP development process for 2016-2021.
Line director wise health services provided and programs implemented by Ministry of Health and family welfare, Bangladesh
Public sector Health care delivery systems; community level, ward level, union level
First referral services provided by Thana Health Complex Second referral services provided by District Hospital
Final referral services through National level tertiary Hospital
Public sector funding; expenditure management of revenue budget, expenditure management of annual development budget (ADP), donor funding to the health sector, funding of projects through the development budget, funding of public sector activities outside the Government budget.
Public Sector Human Resources; Manpower of the Ministry of health, DGHS, physicians, medical officer, dentists, consultant/specialist, mid-level health manpower, medical assistants, nurse/midwives, sanitary inspector and health inspector, health technicians, health assistants, family welfare assistance, family welfare visitors, CHCP
Health care planning in Bangladesh Health systems of different countries
Introduction: The labor market; some basic concepts of labor economics; importance of studying labor economics; positive and normative economics; micro and macro labor economics.
The functioning of the labour market: The labour market; labour force participation: concept, measurements, trends, Unemployment and under- employment: concept and measurements, the demand for labour, the supply of labour; the determination of wage, applications of the theory.
The demand for labour: Profit maximization, labour demand in the competitive labour market, the short-run demand for labour, labour demand in the long run, monopsony in the labour market, policy application: effects of employer payroll taxes and wage subsidies.
Labour demand elasticities: The own-wage elasticity of labour demand, the cross-wage elasticity of labour demand, policy application: effects of minimum wage laws; applying concepts of labour demand elasticity to the issue of technological change, international trade and the demand for labour, gains from trade and labour market implications.
Quasi-fixed labour costs and their effects on labour demand: Nonwage labour costs, the employment/hours trade-off, Policy analysis: The over-time pay premium, part-time employment and mandated employee benefits; firms’ labour investments and the demand for labour; the multiperiod demand for labour; general and specific training; hiring investments.
Supply of labour: A theory of decision to work, analysis of the labour/ leisure choice, policy applications: budget constraints with spikes, programs with net wage rates of zero, subsidy programs with positive net wage rates, monetary and time costs of working, the theory of household production, choice of household work, market work, and leisure, joint labour supply decisions within the household, life-cycle aspect of labour supply, policy application: child care and labour market.
Compensating wage differentials: Job matching, Hedonic wage theory and the risk of injury and employee benefits layoffs.
Investments in human capital: Education and training: The basic model; the demand for higher education; post schooling investments; cobweb model of labour market adjustments; signaling model; hedonic model of earnings and educational level
Worker mobility: Migration and turnover, the determinants of worker mobility, geographic mobility, Policy application: Restricting immigration, employee turnover and job matching
Pay and Productivity: Motivating workers, productivity and the basis, level and sequencing of pay, Application of the theory: Why do earnings increase with job tenure? Why do large firms pay more? Monopsonistic behavior by employers.
Discrimination in the Labor Market: Measured and unmeasured sources of differentials in earnings, theories of market discrimination, government interventions to end discrimination.
Unions and the labor market: Union structure and membership; constraints on the achievement of union objectives, activities and tools of collective bargaining, the theory of union wage effects.
Inequality in Earnings: Measuring inequality, underlying causes of inequality, Lorenz Curves and Gini Coefficients.
The labour economics of Bangladesh: Labour market issues in developing countries including Bangladesh, seasonality in agriculture, different types of labour contracts, market imperfections, division of labour by gender, child labour, employment and wage determination in Bangladesh, history of wage setting institutions, wage growth and productivity, trends in employment and unemployment, formal and informal sector employment, education and manpower, privatization and labor market, labour market policies.
Producer Theory: Production Technology (Cobb-Douglas, Leontief, CES), profit Maximization, profit functions and supply, cost minimization and conditional factor demands, Duality—Technology and Costs
Consumer Theory: Preferences and utility, consumer choice and Marshallian demand, expenditure functions and Hicksian demand, Duality— utility and expenditure, Slutsky Equation, integrability, inverse demand (example from health sector).
Duopoly and Oligopoly: Curnot’s duopoly model, Bertrand‘s duopoly model, Chamberlin‘s oligopoly model, Sweezy’s non-collusive stable equilibrium (the kinked-demand model), Stackelberg’s duopoly model Collusive Oligopoly: Cartels
Game Theory: The payoff matrix, Nash equilibrium, Mixed strategies, The prisoner‘s dilemma, repeated games, sequential games
Consumer Demand Topics: Welfare evaluation of economic changes to consumers—consumer surplus, equivalent variation and compensating variation, revealed preference-weak and strong axioms, aggregation Consumer Choice under Uncertainty
Partial Equilibrium, Efficiency and Welfare: Comparing competitive and monopoly outcomes
Techniques of Economic Evaluation of Health Care I |
Course Title: Techniques of Economic Evaluation of Health Care I
Course Credit: 4
Introduction: Need for public sector interventions, efficiency of health service delivery, importance of economic evaluation of health care
Techniques of Economic Evaluation: Partial economic evaluation and full economic evaluation, Different techniques of economic evaluation
Cost Analysis: Selection of cost, estimation of cost, top down and bottom-up approach, discounting and annuity factor, cost minimization analysis
Cost Effectiveness Analysis: Definition, when we should conduct cost effectiveness analysis? Average cost effectiveness ratio, incremental cost effectiveness ratio
Cost Utility Analysis: What is cost utility analysis? When should we conduct cost utility analysis? Differences between cost effectiveness analysis and cost utility analysis, measuring health outcomes under cost utility analysis, Quality Adjusted Life Years (QALYs), Disability Adjusted Life Years (DALYs)
Cost Benefit Analysis: Concept of cost benefit analysis, measuring benefits under cost benefit analysis; Direct, indirect and intangible benefits, Willingness-to-pay surveys, Ranking alternatives under cost benefit analysis
Introduction to Econometrics: Definition of econometrics, Why a separate discipline? Methodology of econometrics, types of econometrics, understanding econometric modelling, use of econometrics for social scientists and business executives, regression as main tool of econometrics.
Two Variable Regression Model: Population regression function, the significance of the stochastic disturbance term, the sample regression function, the role of statistical packages for econometric study.
Estimation Two Variable Regression Model: The method of ordinary least squares (OLS), the basic assumption underlying the method of OLS, the properties of least squares estimators; Gauss Markov Theorem, standard error of the estimates, estimator of the variance of the disturbance term, coefficient of determination, some illustrative examples of the two variable regression models.
Classical Normal Linear Regression Model (CNLRM): Normality assumption of the disturbance term, why the normality assumption? Properties of OLS estimators under normality assumption, the method of maximum likelihood (ML),
Two Variable Regression: Interval Estimation and hypothesis testing, the chi-square, t distribution and F distribution, hypothesis testing, confidence interval approach & test of significance approach.
Extensions of the Two Variable Linear Regression Model: Regression through the origin, scaling and units of measurement, different functional forms of regression models (double log model, semi-log, reciprocal model and the logarithmic reciprocal model), interpretation of estimated parameters, measurement of elasticity.
Estimation of Multiple Regression Model: The matrix approach to linear regression model, assumptions of classical linear regression model in matrix notation, OLS estimation, variance covariance matrix of the estimators, R square and adjusted R square, hypothesis testing of equality of two regression coefficients, restricted least squares, testing for structural or parameter stability of regression models: the Chow test, testing the functional form of regression; choosing between linear and log-linear regression models, forecasting with multiple regression.
Consequences of violating the assumptions of CLRM: Nature of multicollinearity, nature of heteroscedasticity and nature of autocorrelation.
Demonstration of Statistical Packages for Social Sciences (SPSS) / Econometric Views/STATA/R
Accounting in action: What is accounting, users of accounting information, generally accepted accounting principles, basic accounting equation, effects of transactions on accounting equation
The recording processes: The accounts, debits and credits, double entry system, steps in recording process, the journal and ledger, the trial balance
Completion of the accounting cycle: Preparation of work sheet, adjusting entries, preparing financial statements
Accounting for merchandising operations: Merchandising transactions recording purchases and sales and related transactions, determining cost of goods on hand, computing cost of goods sold, gross profit, inventory system
Company’s Income Statement and Balance Sheet and Cash flow Statement: Format of income statement - Classification in the balance sheet- usefulness of the statements of cash flows - classifications of cash flows, significant non cash activities - preparing the statement of cash flows - direct and indirect methods.
Basic cost accounting concepts: Costing methods - techniques - cost accounting cycle - cost sheet - cost accounting systems - journal voucher control system - impact of automation on cost accounting historical - development of cost accounting.
Costing Method/techniques: Job costing for planning and control of services- recording under job order costing and determination of job cost - job costing and spoilage - demands for activity based costing - introduction to process costing - 5 step method of process costing - equivalent units - weighted average and FIFO, loss of units - normal vs. abnormal loss.
Introduction to Managerial Accounting: Managerial accounting and the business organizations – understanding cost behavior – cost-volume-profit analysis.
Budgetary Planning and Control: Budgets and the organizations – financial planning model – preparing master budget, flexible budget – budgetary control and responsibility accounting.
Introduction: Goals and functions of business finance; The financial manager; objectives of financial management- business ethics - the agency problems - markets and institutions: The financial markets - types of markets, primary markets vs. secondary markets - financial institutions - the stock market - fiscal environment
Concepts in Valuation: Time value of money - future value and compounding - present value and discounting, opportunity cost rate, future and present values of an annuity, perpetuities - amortized loan and amortization schedule
Concepts of Return and Risk: Uncertainty, risk and return; risk-free and risk-adjusted return - bond returns - return from a stock investment - types of risks: business risk and financial risk, total risk and specific risk, diversifiable risk and systematic risk, single-asset risk and portfolio risk - risk measurement - variance, standard deviation and coefficient of variation
Valuation of Financial Instruments: Valuation of bond and debenture - valuation of preferred stock - valuation of common stock - discounted valuation models - relative valuation models.
Sources of Financing and Instruments used therein: Assessing the suitability of different financing options for a given business - short-term financing - intermediate-term financing - long-term financing - factors affecting a company's choice of finance - financing problems of small firms - capital market efficiencies.
Cost of Capital: Capital components and their costs - calculating and interpreting the costs of different financing methods - cost of debt, cost of preferred stock, cost of common equity, cost of retained earnings -capm approach, bond- yield-plus-risk premium approach, dividend-yield-plus- growth-rate, or Discounted Cash Flow (DCF) approach - cost of newly issued common stock or external equity - Weighted Average Cost of Capital (WACC), Marginal Cost of Capital (MCC) - MCC schedule, break points; factors affecting the cost of capital.
Capital Budgeting: Introductory knowledge about capital budgeting – methods and techniques of evaluation of different projects.
Financial Market of Bangladesh
Basics of real analysis: Sets; algebra of sets, families of sets, cartesian product, binary relations, matrix space; open, closed, compact, connected sets, continuity, concept of limits
Applied matrix operations: Characteristic equations, eigenvalues and eigen vectors.
First-order Difference Equations: Solving First-order Difference Equations, dynamic stability of equilibrium, qualitative and graphical approach to non-linear difference equations.
First-Order Differential Equations: First-order linear differential equations with constant coefficient and constant term, dynamic stability, methods of solution;
Second order differential equation: Second-order linear differential equations with constant coefficient and constant term, dynamic stability, methods of solution.
Simultaneous Differential Equations: Genesis of dynamic system, solving, dynamic input-output model with application, two variable phase diagram, linearization of non-linear differential equation system.
Dynamic Optimization: Optimal control theory, The Hamiltonian principle.
History of the development of hospitals
Types, functions and services of hospitals, Basic principles for managing a hospital
Hospital planning and designing, Management of clinical and nursing services of a hospital
Management of support services of a hospital, Management of utility services of a hospital, Management of special services of a hospital
Medical record and hospital information system, Clinical governance and med audit Hospital infection control, Management of hospital waste
Qualitative and quantitative management in hospital, 5S-Kaizen-TQM, Team building and paradigm shift of leadership in hospital management
Public private partnership in hospital management.
Multicollinearity: Nature of Multicollinearity, Is Multicollinearity really a problem? Practical consequences, detection and remedial measures of multicollinearity.
Heteroscedasticity: Nature of heteroscedasticity, consequences, detection and remedial measures of heteroscedasticity.
Autocorrelation: Nature of autocorrelation, theoretical and practical consequences of autocorrelation, detection and remedial measures of autocorrelation.
Specification Errors: Model specification criteria, types of specification errors: omission of relevant variable, inclusion of irrelevant variable, adopting a wrong functional form, errors of measurement; consequences of model specification errors, and tests of specification errors.
Error in the variable: Properties of OLS under measurement error, measurement error in dependent variable, measurement error in Independent variable, missing data and outlying observation (solution for measurement error)
Estimating System of Equations for OLS and GLS
Regression on Dummy Variables: Nature of dummy variables, regression with a mixture of quantitative and qualitative regressions: the ANOVA models, some illustrative examples of regressions on dummy variables, the structural stability of regression models/ comparing two regressions with dummy variable approach, interaction effects using dummy variables, use of dummy variables in seasonal analysis, piecewise linear regression.
Simultaneous Equation Models and Instrument Variable Estimator: The nature of simultaneous equation model, Simultaneity bias, IV estimator and its properties, concept of identification and conditions for identification, two Stage Least Square (2SLS), Statistical inference with IV estimator, testing endogeneity and over identifying restriction, 2SLS and heteroskedasticity.
Economics of Health Care II |
Course Title: Economics of Health Care II
Course Credit: 4
Introduction: Importance, need of health care, demand for health care, production of health care, health care financing, efficiency and equity
Demand for Health Care: Access and access barriers, health care seeking behavior, medical tourism, Grossman model and its implications, determinants of demand for health care, social determinants of health
Market Failures and The Role of Government: Information asymmetries, externalities, affordability and deprivation for the demand of health care, Government intervention
Efficiency in Health Care Production: Technical, production and allocative efficiency, different methods of measuring efficiency
Provider Payment Mechanisms: Prospective payment mechanisms, retrospective payment mechanisms, per capita reimbursement, per case reimbursement, DRGs
Financing of Health Care: Concept, private finance of health care services, Government financing and private supply, public supply and financing, tax financed health care system, private health insurance, social health insurance, community health insurance, out of pocket payments, user fees, other non-traditional methods of health financing, medical saving schemes, contributions of developing partners, health care financing strategy of Bangladesh, equity in health care financing, horizontal and vertical equity, Kakwani index, Suit index
Health Care Financing and Universal Health Coverage: The concept of universal health coverage, the path towards universal health coverage and its relation to health care financing
Economics of health insurance: Uncertainty in Health Care, attitude to risk, diminishing marginal utility of income, the demand for health insurance, risk pooling, the supply of health insurance, market for health insurance, health insurance market failures
Overview of National Health Accounts: What are NHAs? Classification of function, classification of provider, health financing schemes, financing agents, Bangladesh national health accounts
Techniques of Economic Evaluation of Health Care II |
Course Title: Techniques of Economic Evaluation of Health Care II
Course Credit: 4
Overview of economic evaluation
Measuring and valuing effects: Health gains, consumption benefits of health care, Emerging techniques of measuring burden of disease, Using clinical studies as a vehicle for economic evaluation, Economic evaluation using decision analytic modelling, Identifying, synthesizing, and analysing evidence for economic evaluation , Characterizing, reporting, and interpreting uncertainty
Health Impact Assessment: What Is Health Impact Assessment? Importance of Health Impact Assessment, Methods of Health Impact Assessment, evidences on Health Impact Assessment.
Cost-Benefit Analysis: CBA decision rules, measures of welfare, economic impact analysis, cost-benefit analysis of social programs, Risk & Uncertainty, Indirect methods, contingent valuation, valuation of a statistical life (VSL) and statistical life-years (VSLY)
Environmental regulation, global warming
Analytical Foundation of Environmental and Resource Scarcity: Defining environmental and resource economics, the concept of resources and resource scarcity, the neo-classical economic perspective
The Concept of Natural Resources: An Ecological Perspective: Ecology: The economics of nature, the ecosystem; structure and function, eco dynamics; succession, equilibrium, stability, resilience, complexity, the laws of matter and energy, the basic lessons of ecology
Natural Resource Scarcity and the Limits to Economic Growth: The Malthusian growth doctrine, the Neoclassical growth paradigm, the ecological economics school perspective, sustainable economic development
The Origins of the Sustainability Problem: Scoping and defining sustainability and intergenerational equity, economic growth with depletable resources and/or pollution, measurement of sustainability and income; theory and empirics, environmental and sustainability policies, national sustainability policies in practice
Ethics and Environment: Ethical foundations for environmental economics, principles of discounting.
Fundamentals of the Economics of Environmental Resources: The economic process and the assimilative capacity of the natural environment, common property resources, externalities and market failure, internalizing externalities; the Pigouvian tax
The Economic Theory of Pollution and Its Control: The determinants of the optimal level of pollution and their Implications, alternative pollution control policy measures and their implications for growth and equity.
Valuing the Environment: Measuring the costs of provision, total economic value, benefits of improving an environmental amenity, methods; productivity loss, defensive, mitigating, travel cost, hedonic and contingent valuation, valuation and policy relevance
Introduction to Environmental Health
Occupational Health Environmental issues of Bangladesh
Introducing Economic Development: Global Perspectives
The evolution of thought on poverty reduction, development and growth
Measuring development and development gap: Human Development Index and other indices of development and quality of life.
Classical theories of development: Rostow‘s growth model, Harrod- Domar growth model, structural change models, international dependence revolution and neoclassical counter-revolution (Solow growth model) Development Strategies: Problems of over-specialization in primary industry for developing countries, socio-economic costs of development, pattern of industrialization in developing countries, terms of trade between agriculture and industry, Infrastructure and its importance.
Poverty and inequality of income and wealth: multidimensional poverty index (MPI), headcount index, total Poverty Gap, FGT index; size distribution, Lorenz curve, Gini Coefficient, Kuznet's inverted-U hypothesis.
Economic Exchange, Trade and Efficiency
Human Capital: Health- Health-Poverty Trap Application to Nutrition and Productivity, health returns and constraints on investments, problems of high fertility in developing countries- microeconomic household theory and Malthusian population trap
Urbanization and migration
External finance for development: FDI, ODA, Remittances, South-South Cooperation.
Economic performance of the Least Developed Countries (LDCs)
Transforming our world- Sustainable development goals (SDGs) Development pattern of Bangladesh
Binary outcome model and Regression with Truncated and Censored
Dependent Variable: Maximum Likelihood Methods, Logit and Probit Models for Binary Response, The ‗Tobit Model for Corner Solution Responses (Truncated and Censored Data), Sample Selection Corrections
Factor analysis & data reduction
Survival/duration analysis: Cox regressions, and other survival models
Time Series Model: The Nature of Time Series Data, Classical Linear Regression Assumptions of Time series, Stationary and Weakly Dependent Time Series, Uni-variate Model (AR, MA and ARIMA models) , Vector Auto Regressive (VAR) Models: Reduced VAR, Recursive VAR and Structural VAR and Co-integrating Regression analysis.
Introduction to Pooled and Panel Data Estimators: Pooled OLS, difference in difference estimator, fixed effect model, random effect model, Hauseman Test
Economics of Uncertainty and Insurance |
Course Title: Economics of Uncertainty and Insurance
Course Credit: 4
Insurance and its Economic Role
Uncertainty: Turning Uncertainty into Risk, Utility Under Uncertainty
Risk: Measurement, Perception, and Management of Health Risks
Demand for Health Insurance: Decisions Under Risk with Diversification Possibilities Vis-A-Vis without diversification possibilities
The Health Insurance Company and its Insurance Technology
The Supply of Health Insurance
Health Insurance Market and Asymmetric Information: Basic Adverse Selection Models, Advanced Topics in Adverse Selection, Moral Hazard, Ex Post Moral Hazard and Fraud
Insurance Pricing: Actuarial Methods and Designing of Health Insurance, Social Health Insurance
Reinsurance Market Regulation of Health Insurance
Challenges Confronting Health Insurance
Economics of Healthcare III |
Course Title: Economics of Healthcare III
Course Credit: 4
Overview: Demand for and supply of health care, market failures and role of public sector
Theory of Role of Non-Government Organization in Health: Why non- profit firms exist in health care? Emergence of the non-profit organizations, interest group theory, models of non-profit hospital behavior, relative efficiency of non-profit vs. for-profit organizations, property rights theory and profits/incentives
Economics of Health Insurance: Basic theory of health insurance, coinsurance, copayments, deductibles, moral hazard and adverse Selection
Macroeconomics and Health: Investing in health, health in other policies, Sustainable Development Goals
Population Economics: Economic causes and effects of population pressure
Microeconomic Analysis of Some Population Issues: Demand for children, son vs daughter preference, demand for family planning, rural- urban migration (Harris-Todaro Model), subsidy on health goods, rationing of health goods
Effects of Population Growth on Macroeconomy: Impact on consumption, savings, capital-output ratio, unemployment rate and wage rate
Basic Theories of Population: Malthus, Boserup, Bilsborrow, Coale and Hoover, Geertz, theory of Cohen- Earth‘s carrying capacity urban migration (Harris-Todaro Model), subsidy on health goods, rationing of health goods
Effects of Population Growth on Macroeconomy: Impact on consumption, savings, capital-output ratio, unemployment rate and wage rate
Basic Theories of Population: Malthus, Boserup, Bilsborrow, Coale and Hoover, Geertz, theory of Cohen- Earth‘s carrying capacity
Effects of Population Growth in Bangladesh: Effects on land holding and rural employment, industrial employment and export of manpower, how to control population and investing in people
Nutrition Economics: Causes and Effects of Malnutrition: myths about malnutrition, reasons for weak commitment to nutrition program, vicious cycle of nutrition and malnutrition, importance of investment in nutrition, benefits and costs of nutrition programs
Structure and Management of Health Sector |
Course Title: Structure and Management of Health Sector
Course Credit: 4
Changing concepts of health and diseases from ancient concepts to modern concepts.
Development of structure of Bangladesh Health Service from historical perspective.
Important issues related to health: Access, Coverage, Efficiency, Equity, Quality, Safety, Sustainability, Right based equity.
Better coverage initiatives- National strategy for adoption of SDG in health sector including achievements of past activities i.e. Revitalization of PHC, ESP, MDGs, etc.
Structure of ministry of health and family welfare; policy-level, execution/implementation level, regulation level
Structure from district to below level Population wise health care service facilities
Human recourses in Public Health Sector; job responsibilities and activities, trend of health care provides over the decade, challenges in hard to reach areas and staff management, problems in health care service provides
Budgeting in public health sector Health information systems Hospital statistics
Planning in public health sector; planning from independence to last, causes of implementation failure: contextual factor (sociocultural, economic, political, administrative), lack of clarity in health plans, gap in expertise
Weakness of implementation process; weakness in project management, mismanagement of financial resources, mismanagement of human resources, weak referral system, inadequate supervision – monitoring- coordination, malpractice of health care providers, poor management of medicine and equipment
Institutional features responsible for procedural weakness; dominance of donor, bureaucratic dominance, centralizes administration, weak decentralization, poor information and coordination network
Changes and improvement in public health sector over the decade Health systems of different countries
Regulation in public health sector
Introduction: Definition, scope and importance of pharmaceutical economics
Demand: Demand for pharmaceutical products vis-a-vis other commodities, determinants of demand of pharmaceutical products, health insurance Vs demand for pharmaceutical products, price discrimination of pharmaceutical products, market entry of generic drugs and its impact on demand of patent drugs, and therapeutic equivalence and the generic competition paradox
Promotion (Advertising) And Marketing of Pharmaceutical Products: Marketing of pharmaceutical products vis-à-vis other commodities, pharmaceutical promotion policies, impact of aggressive marketing on demand, price and quality of pharmaceutical products
Pharmaceutical Industry: Structure of the industry, role of R&D, product development cycle and patient policies, vertical and horizontal integration of pharmaceutical firms, market structure of pharmaceutical products
Pricing of Pharmaceutical Products: Pharmaceutical prices and pricing models, e.g., regulation of mark-ups in pharmaceutical supply and distribution chain, costs plus pricing formulae, external reference pricing Pharmaceutical Policies: The public choice model of policy making, pharmaceuticals, cross national price differences, drug policies and the politics of essential drugs in Bangladesh
Pharmaceutical Policies: The public choice model of policy making, pharmaceuticals, cross national price differences, drug policies and the politics of essential drugs in Bangladesh
Regulations: Government regulation and the drug administration, patent protection, new drug introduction, generic products approval of new drugs, pricing of new drugs, drug policy and the politics of essential drugs in Bangladesh
Economic Evaluation of Pharmaceutical Products: Cost-Effectiveness, Cost-Utility and Cost-Benefit Analysis, Markov Modelling, and measurement of outcomes
Exchange rates and the balance of payments: The demand for and supply of foreign exchange, exchange rate regimes, the balance of payments (BOP) account. BOP equilibrium.
Extended Model of Income Determination (Flexible Price and Open Economy): Aggregate demand curve in an open economy, the IS-LM-BP model; fiscal and monetary policies under fixed and flexible exchange rate regimes assuming perfect mobility of capital, consumption; short run and long run consumption function, life cycle hypothesis, permanent income hypothesis, and relative income hypothesis
Investment: Theory of investment-NPV and MEI criteria; the stock market and Tobin‘s q model.
Government budget deficit: Sources of the deficit; the deficit and the business cycle, debt-financing vs. money financing, possible impact of the deficit on future generations.
Inflation: Inflation and interest rates- the Fisher effect; short-run trade-off between inflation and unemployment-adaptive expectations & rational expectations and their policy implications, the short-run and long-run Phillips curves. Hysteresis stabilizing the economy.
Unemployment: Efficiency wage theory, insider-outsider theory, implicit contract theory, imperfect information theory.
Macroeconomics and Health
Macroeconomic indicators and performance of Bangladesh
Introduction: History and basic concepts of epidemiology, objectives and differences between epidemiology and clinical medicine.
Epidemiological Studies: Classification of epidemiological studies, case control studies, and cohort studies.
Epidemiological Measures: Frequency measures, measures of association, impact measures.
Screening: Basic concepts and types of screening, instrument of screening and its quality, tools of validity, agreement statistics, confounding factors.
Bias in Epidemiology: Bias in epidemiological studies.
Causality: Criteria for causal inference