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1.Introduction

2.Introduction to relevant knowledge

3.Introduce case and analyze

4.recommendation

5. Based on the above analysis, make recommendations to the government.

6. Reference

Your task is to use your knowledge of microeconomics to establish the facts and analyse UK’s health care market. Evaluate the economic functioning of the health care market in UK, including demand and supply, incentives, elasticity of demand and supply. Explain possible options for policy intervention to correct market failure and make recommendations to policy makers.

you may want to include the following:

(i) Write a short, meaningful introduction into the topic.

(ii) Explain, using the example of health care, the economic functioning of the market, using terms including demand and supply, price mechanism, incentives, market equilibrium, equilibrium price and quantity.

(iii) Explain the demographic demand pattern for heath care: Are certain groups of the population need health care more often than others?

(iv) Explain possible causes for and effects of shifts in demand and supply in this market.

(v) Explain, using the example of health care, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams where applicable.

(vi) Explain all possible market failures in relation to health care.

(vii) Explain possible options for government intervention to correct such market failures.

(viii) Describe how such government intervention could affect supply for health care; discuss limitations, costs and benefits of the options for government intervention.

(ix) Based on above analysis, make recommendations to the government.

(x) Use appropriate sources for your analysis, including government, business and academic reports and journal articles, reliable news services, and excluding internet sources of uncertain or questionable origin.

(xi) Acknowledge all your sources fully and according to Harvard style.

(xii) Format your report appropriately and professionally with a title page, contents, page numbers, and clear tables and diagrams with titles, numbers and sources.

Overall your report will be approximately 2,500 words long, covering all of the following points but in a coherent, academic report. Do not answer the questions in the style of an examination. Exceeding the word limit by more than 10% may result in a penalty of up to 10% of your mark.

Please make extensive use of academic literature (peer reviewed academic journal articles – not just textbooks, newspaper articles or news sites online), government reports and business reports in finding potential sources and determinants of demand and supply, and their elasticities, in the housing market. Only coursework that extensively uses and critically discusses academic literature to support their analysis will score 60% and higher. For data, use appropriate sources, including data bases (Bloomberg), government and business reports. In case you wish to refer to news and events, use highly reliable news services such as the Financial Times. Do not use internet sources of uncertain or questionable origin.

Assessment Learning Outcomes

1. Analyse demand and supply functions and how they may influence decision making of firms/industry.

2. Analyse the main objectives of micro economic framework, the causes and costs of not achieving them, their interdependence.

Knowledge and understanding - executive summary and introduction Degree to which the student is able to show the overall purpose of the study and the research problem(s) investigated, the research design of the study and the major findings or trends found.

10%

Knowledge and understanding - Coverage of the requisite topics (RO) Ability to theoretical evaluate the economic functioning, investigating sources and determinants of demand and supply, incentives, elasticity, the price mechanism and the nature of the equilibrium.

35%

Analytical skills - Discussion- Accuracy and relevance of findings Ability to identify, explain and justify market failures, possible options for government intervention and its effect.

35%

Cognitive (thinking) skills - Conclusion Ability to deliver a logical conclusion that is built on the findings of the study and addresses limitations, future outlook (theory) and/or practical recommendations .

10%

Transferable skills - Format and referencing Ability to follow CU Harvard referencing style in citations and reference list, combined with complete structure, format and presentation of the entire study.

10%