Economics in Healthcare

MQF Level 7

6 Credits (ECTS)

Economics in Healthcare

October 2024
Module Type
ECTS Credits
6 Credits (ECTS)
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Module Description

Throughout this module, participants will delve into essential economic concepts such as micro and macroeconomics, applied economics, and healthcare policy-making.

By studying these concepts, participants will gain a profound understanding of the intricate relationship between economics and society, particularly within the healthcare context.

Equipped with this knowledge, students will be prepared to actively engage in decision-making processes at both macro and microeconomic levels, offering innovative solutions to contemporary challenges faced by healthcare systems.

This module empowers students to navigate complex economic landscapes and contribute meaningfully to shaping the future of healthcare delivery and policy.

Entry Requirements

Candidates who apply for this course must possess one of the following: 

  • Level 6 degree in a related field; 


  • Level 5 diploma or higher diploma and 5 years’ work experience in a supervisory or managerial role. 


Preference is given to applicants having a Level 6 degree in a discipline related to the healthcare industry and a minimum of 3 years’ work experience in management within the sector.  


Target Audience

The programme is mainly targeted at:  

  • Nurses and Midwives; 
  • Nursing Managers; 
  • Ward Managers; 
  • Clinic /Department Managers; 
  • Physiotherapists; 
  • Social Workers;
  • Doctors; 
  • Professionals allied to medicine, such as paramedics; 
  • Staff within the pharmaceutical and medical devices industries; 
  • General Managers without clinical qualifications. 

Module / Unit Instruction

The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning.

The structure uses primarily two dimensions of teaching-learning modes:

  • Face-to-face sessions: 28 hours.
  • Online Learning Activities: 17 hours

Face to Face sessions

Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.

Online Learning Activities

Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises.

Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

The tutor provides continual support during both teaching -learning modes by providing information, readings and tasks relevant to the module in question.

The tutor provides continuous formative feedback as an on-going guidance during the student’s learning experience in preparation for their summative assessment.

How you’ll be assessed

Assessment of each module consists of two assignments, each carrying a weighting as below:

a) One Formative assignment carries 20% of total module mark achieved. b) One Summative assignment carries 80% of total module mark achieved.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in both the formative and the summative assignment.

The overall grade achieved for each module is calculated as the sum of: · 20% of the mark achieved for formative assignment; and · 80% of the mark achieved for the summative assignment.

All assignment tasks of both formative and summative assessment aim to provide the learner an opportunity to produce evidence of his/her competences aligned to the learning outcomes of each individual Module.


a) Formative assessment tasks are provided in the form of structured online discussions that support learners in their development throughout all of the modules studied.

Such discussions are facilitated and monitored by lecturer who provides students with constructive feedback to help them improve and prepare for summative assignment and dissertation.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in the formative assignment.

Formative assessment tasks will contribute to the student’s final mark to acknowledge their work and give chance to improve.

This method allows students to also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

b) Summative assessment is done via one assignment at the end of each module. The mode of assessment varies and may include in-class assignments, and home-based written assignments.

The recommended assessment tool for this module is an essay title or case studies based on relevant real-life scenarios.

Word count range: 3000 ± 10% For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in summative assignment.


Module Intake Dates

October 2024

Learning Outcomes


At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  • Analyse the economic activity among other private and public Healthcare organisations locally and in the international marketplace.
  • Carry out qualitative and quantitative research when conducting business analysis to determine Economic viability of own Healthcare organisation.
  • Use data and information gathered to review own Healthcare s strategy viability and sustainability.
  • Develop an sustainable Economic strategy for own Healthcare organisation.
  • Use market place information to develop new business and income-generating activity within own Healthcare organisation.
  • Determine how own Healthcare organisation can benefit from economies of scale and pricing strategies.


At the end of the module/unit the learner will have been exposed to the following:

  • Critically analyse Applied Economics for Healthcare Managers.
  • Critically analyse theories of Consumption and Investment and Game theory in relation to healthcare systems.
  • Evaluate the concepts of Market Performance and Market Efficiency.
  • Critically analyse the differences between Macro and Micro Economics.
  • Relate market-place information and intelligence to own Healthcare organisation’s economic position and current operations.
  •  Analyse the impact of Supply and Demand in Healthcare.
  • Identify Pricing and Costing strategies for Healthcare organisations.
  • State the impact of economics of scale and pricing strategies for Healthcare organisations.
  • Outline the link between Social Responsibility and Healthcare providers.


At the end of the module/unit the learner will have acquired the following skills:

  • Apply cost benefits analysis to determine resources allocation in own Healthcare organisation.
  • Use the theories of Consumption and Investment in own business-related discussions.
  • Employ economic analysis to predict future market behavior in response to events, trends, and cycles in healthcare systems.
  • Identify key Policy Issues which are relevant to Healthcare organisations and providers.
  • Determine the Pricing and Costing strategies which are relevant to own Healthcare organisation.
  • Distinguish between Health Economics of private vs. public Healthcare organisations and/or providers.
  • Identify the economic forces forming the external environment of own organisation>

Judgment Skills and Critical Abilities:

The learner will be able to:

  • Choose a suitable method to set and measure own pricing in the relevant Healthcare markets.
  • Assess whether current strategy complements the Economic health of own Healthcare organisation.
  • Determine the effect taxes have on own Healthcare organisation.
  • Evaluate current policy issues with regards to the economic environment.
  • Assess which pricing strategy would be most suited to own Healthcare organisation.
  • Evaluate the performance of own Healthcare organisation economically to other similar business models (private/public/local/international)

Module-Specific Communication Skills:

The learner will be able to:

  • Communicate feedback to key stakeholders during different stages of change implementation.

Module-Specific Learner Skills: 

The learner will be able to:

  • Research how other similar Healthcare organisations (local/international/public /private) use Health Economics to develop strategy and manage operations.
  • Research local Healthcare Policy, Budget Allocation and Additional Funding/Grant opportunities which could be of benefit to own Healthcare organisation.

Module-Specific Digital Skills and Competences:

The learner will be able to:

  • Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.
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