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HEN 368Health
Economics
Gale L. Pooley, Ph.D., MAI,
MRICS, CCIM, SRA
gpooley@alfaisal.edu
How did this happen?
Prince Alwaleed bin Talal al Saud
Bill Gates
Scarcity
Choices
Make Better
Choices
Syllabus
Time Commitment
Class 3 Hours
Homework 6 Hours
Total 9 Hours
afhealthecon.blogspot.com
Logon and post your name and student ID
number
Moodle
GradesChats
SyllabusOther items
Think like an
Economist
WordsNumbers
Illustrations
Economist’s Dictionary
Get the most
out of life
RationalIncentives
Margin
OptimizeTradeoffs
Tradeoffs
Mileage Safety
A 2001 National Academy of Sciences study estimated that the traffic death toll attributable to past downsizing was approximately 2,000 lives per year.
Economic ModelsSimplified Version of Reality
Value in Prediction
Incentives Matter
Change IncentivesChange Behavior
Incentives aremore important
than goals
Consequencesmatter more
than intentions
Unintended Consequences
Macro Micro
ScienceHardSoft
Most peopleMost of the
timeEconomics is a Soft Science
What is Wealth?What People
Want
Get wealthy by making
others happy
Global Device
ARM HoldingsWolfson Marvel
SkyworksCSR
Linear TechnologiesNXP
National SemiconductorSharp
SamsungToshibaInfineon
BroadcomNumonyx
MicronDialog Semiconductor
Texas InstrumentsSTMicroelectronics
Silicon StorageRF Microdevices
Cirrus Logic
U.S.U.K.
GermanyKoreaJapan
TaiwanChina
Ideas occur in minds
not places
Hockey Stick
Trends
$3
Angus Maddison
IncomePer
PersonPerDay
20121AD
$100
20121AD
$3
$100
$30 World 10x
Northern EuropeNorth America
33x
1820
Angus Maddison
“The Millennium–Poor Until 1820”
IncomePer
PersonPerDay
SlopePercentage
ChangeRelationships
Cause and EffectAreas
X
Y
Quantity
Price
Q
P
The End
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