One of the aspects of meaningful use is the implementation of the electronic health record (EHR). How has the EHR impacted your health care organization? What were the positives, and are there any negative issues with any aspects of EHR?
Problem Set 2
Upload on Canvas by 11:59pm on February 14, 2019.
Problems 1 -3 are based off Solow model, Romer model and class discussion on institutions. Problems 4 -6 are based off Chapter 7. Problems 7 -9 are based off of chapter 8.
Consider the following extension of the Solow model with exogenous produc- tivity growth. The expression for total output and the dynamics of capital per effective worker are given by the following expressions:
Y = Kα(AL)1−α
∆k = sy − (δ + g)k
where g is the growth rate of A, y is output per effective worker, and δ is the depreciation rate of capital.
(a) Using the information given above, find the fundamental Solow equation. Find an expression for steady state capital per effective worker.
(b) What happens to steady state capital if the growth rate of productivity rises?
(c) Suppose that this economy consists of two types of households: laborers and capitalists. Capitalists own all the capital stock K and are paid a rental rate equal to the marginal product of capital. Find an expression for their share of national income.
(d) Assume that laborers save none of their income. If capitalists save 30% of their income, the parameter α = 0.3, and the parameter δ = 0.1, what is the aggregate saving rate s? Will income inequality between capitalists and laborers worsen over time?
Which of the following statements about the role of institutions in economic growth is TRUE and which of the following statements is FALSE? Explain.
(a) Higher expropriation risk due to low-quality governance and poor insti- tutions might account for low levels of human and public capital in poor nations
(b) The quality of institutions in countries colonized by Europeans is corre- lated with whether climate/disease allowed European settlers to live in those areas
(c) Low-quality institutions make it difficult to protect property rights and enforce contracts
Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research productivity rises permanently to z¯j > z¯.
(a) Solve for the new growth rate of knowledge and yt.
(b) Make a graph of yt over time (on a ratio scale).
(c) Why might the parameter z¯ increase in an economy?
In this problem, you are asked to use the labor supply – labor demand frame- work developed in class. Illustrate the effect of various shocks using a diagram of labor supply and labor demand.
(a) An unusually warm summer increases workers’ preference for leisure time. What effect will this shock have on employment and wages?
(b) A natural disaster damages part of a nation’s public infrastructure. What effect will this shock have on employment and wages?
(c) Congress passes a law funding national pre-kindergarten education by rais- ing taxes on investment income. What effect will this shock have on em- ployment and wages?
Suppose labor income starts at $50,000 and then grows at a constant rate of 2 per cent per year after that. Let wt be labor income in year t, so that
wt = w0(1 + g)t,
where w0 = 50, 000 and g = 0.02.
(a) If the interest rate is R, what is the formula for the present discounted value (PDV from now on) today (in year 0) of labor income in a particular future year t?
(b) Now add up these terms from t = 0 to t = 45 to get a formula for the PDV of labor income. Your answer should look something like that in equation (7.12) of the textbook.
(c) Write your answer to part (b) so that it takes the form of the geometric series
PDV = w0(1 + a + a2 + a3 + … + a45).
What is the value of a that you find?
(d) Apply the geometric series formula to compute the PDV for the case of R = 0.04, R = 0.03, and R = 0.02. What happens when R = 0.02 and why?
Suppose that college education raises a person’s wage by $30,000 per year, from
$40,000 to $70,000. Assume that the interest rate is 3 per cent and there is no growth in wages. Suppose you are a high school senior and deciding whether or not to go to college. Find the PDV of earnings in the following cases. Also, assume that the work time is still 45 years, adding up to a 49-year non-college work career.
(a) What is the PDV of your labor income if you do not go to college and start working immediately?
(b) As an alternative, you could pay $20,000 per year in college tuition, attend college for 4 years, and then earn $70,000 after you graduate. What is the PDV of your net earnings (adjusting for tuition) under this plan?
(c) Discuss the economic value of college education.
(d) What if you pursue the plan described in (b), but you also expect to be unemployed for 2 years after finishing college (knock on wood). During these years assume that you do not have access to any unemployment insurance. What is the PDV of your net earnings under this plan?
Label the following statements true or false and justify your answer.
(a) Suppose that the money supply is growing at 10%. If the velocity of money is falling at 10%, then inflation is zero.
(b) Suppose that inflation equals the growth rate of the money supply. Then seigniorage revenues are growing over time.
Consider a fast-growing emerging market economy where output is growing is at 10% per year. The central bank would like to choose a growth rate of the money supply to keep inflation at 0%.
(a) Assume that demand for money is constant and inelastic (does not depend on nominal interest rates). What should be the growth rate of the money supply to keep inflation at 0%?
(b) Due to the introduction of debit and credit cards, it turns out that the velocity of money is not constant. If more consumers are using these payment technologies, do you expect the velocity of money to be increasing or decreasing? Should the growth rate of the money supply be faster or slower relative to your answer in a)?
(c) Consider the following expression for the growth rate of the velocity of money. The growth rate of velocity now depends on the nominal interest rate. Do you expect the coefficient ? to be positive or negative? Why?
. = 0.04 + λ∆i
(d) Suppose that the real interest rate remains constant. Use the expression in c) to derive an expression for inflation in terms of money supply growth, output growth, and expected inflation. If expected inflation is constant, what is the growth rate of the money supply that keeps inflation at zero?
(e) A number of commentators are worried that this country is “overheating” and that inflation may start rising in the future. Should the central bank raise or lower the growth rate of the money supply today? Why?
Problem 9: Suppose velocity is constant, the growth rate of real GDP is 3 per cent per year, and the growth rate of money is 5 per cent per year. Calculate the long-run rate of inflation in the following cases:
a) What is the rate of inflation in this baseline case?
b) Suppose the growth rate of money rises to 10 percent per year.
c) Suppose the growth rate of money rises to 100 percent per year.
d) Back to the baseline case, suppose real GDP growth rises to 5 percent per year.
e) Back to the baseline case, assusme that velocity of money rises at 1 percent per year. What happens to inflation in this case? Why might velocity change in this fashion?
The final draft should be a polished version of stages 1, 2, and 3. It should incorporate any changes that the TA or I suggest you make and should reflect any new thoughts or ideas that you think will lead to an improvement in the paper.
stage 2 feedback:
This stage of the paper was supposed to focus on a particular policy, how it ties into the economic theory and models discussed in the course so far, and provide summaries of other empirical, peer reviewed papers that look at similar policies.
In this, you talk about CERB, but do not offer any insight into how it ties into the framework discussed in class, and provide no summaries of other empirical papers looking at similar policies.
In preparation of your final submission, please spend more time trying to connect the policies with the class material, and finding other empirical papers to discuss and summarize.
Does not include summaries of other empirical papers focusing on policies similar to the one in question.
Provides no explanation of the possible outcomes of this policy using the theory discussed in the class thus far.
stage 3 feedback:
Much of this submission spent talking about the details of CERB, as well as the effectiveness of the other policies implemented by Canada. There is very little content discussing the specific outcomes of CERB, and if the policy can be measured as a success, or how it compares to other similar wage subsidy/transfer programs.
For your final submission, please include more of a discussion on how CERB is different from other policies that are similar, as well as how the setting of CERB is different from those other policies.
There is little discussion on potential changes to CERB and how they would affect the effectiveness of the program, so please elaborate on that for your final submission as well.
Your writing continues to have awkward phrasing and a lack of editing. Please pay close attention to both of these prior to your final submission next week.
In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics–the study of how the allocation of resources affects economic well-being–and will discover that under most circumstances, the equilibrium price and quantity is also the one that maximizes welfare. Students will review different sources of externalities and a variety of potential cures and will see that while markets are usually a good way to organize economic activity, governments can sometimes improve market outcomes. Students will see how the U.S. government raises and spends money and the difficulty of making a tax system both efficient and equitable.
Scenario: Imagine you have been assigned the responsibility of preparing a paper for the governor’s next economic conference.
Prepare a 1,050-word paper addressing the following:
- Explain why equilibrium of supply and demand is desirable.
- Explain the following concepts using the concept of consumer and producer surplus:
- Efficiency of markets
- Costs of taxation
- Benefits of international trade
- Discuss how externalities may prevent market equilibrium and the various governments policies used to remedy the inefficiencies in markets caused by externalities.
- Analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles.
Cite a minimum of three peer-reviewed sources, not including your textbook.
Format consistent with APA guidelines.
Sparrow Pharmaceuticals is the maker of several popular drugs used to treat high blood pressure and arthritis. Over time, the company has developed a positive relationship with many of the patients who use its medications through a quarterly newsletter that offers the latest information on new medical research findings and general health and fitness articles. The company just has been acquired by a group of investors who also own Soothing Waters Hot Tubs and Spas. The marketing director for Soothing Waters would like to use Sparrow’s mailing list for a direct-mail promotion.
- What should Sparrow Pharmaceuticals do?
- Do you think it is ethical to use customer information across multiple divisions of the same company? Explain.
- To which marketing management philosophy do you think the marketing director for Soothing Waters subscribes? Explain.
- Does the AMA Statement of Ethics address the use of the customer information by multiple divisions of the same company? Go to http://www.marketingpower.com and review the statement. Then write a brief paragraph on how the AMA Statement of Ethics relates to Sparrow Pharmaceuticals’ dilemma.
(To locate the Statement of Ethics students would go to http://www.marketingpower.com and in the top right corner they would select, “About AMA,” and underneath “About AMA,” there are several Gray tabs to choose from, select “Statement of Ethics,” and begin to review the Statement of Ethics.)
The requirements below must be met for your paper to be accepted and graded:
- Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
- Attempt APA style, see example below.
- Use font size 12 and 1” margins.
- Include cover page and reference page.
- At least 60% of your paper must be original content/writing.
- No more than 40% of your content/information may come from references.
- Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
- Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.
A detailed explanation of how to cite a source using APA can be found here (link).
Download an example here
Explain why IT projects (such as Web site development or redesign) are less likely to be delivered on time and within budget than large building construction projects. Include a discussion of how project management software can help IT project managers achieve their goals.
due sunday use correct citations
The medical field is constantly changing. As a health care manager, you will manage the budget and provide quality care to clients in this changing environment. A cost-effective analysis (CEA) provides one method to manage change. A CEA is a form of economic analysis that allows management to explore a number of alternatives for providing care to clients based solely on the fixed costs (FC) and variable costs (VC) associated with each alternative. The CEA process assumes each alternative will achieve the desired outcome and that a thorough review of the existing body of literature on each alternative has been explored by the organization. A CEA does not analyze the actual or perceived benefits associated with each alternative and factor that into the analysis. In fact, analysis of benefits is a separate process that should take place following the implementation of a chosen alternative.
To prepare for this Application Assignment, imagine you have been hired by Splendid Hills Hospital. The vice president of finance has asked you to work with an interdisciplinary committee to conduct a cost-effectiveness analysis (CEA) and to recommend a cost-effective CAM option. Based on the committee recommendation, one of the three proposed CAM options (spinal manipulation, acupuncture, and massage therapy) would be implemented to care for clients with chronic lower back pain where more conventional therapies have been largely ineffective. You and the committee have collected the fixed costs (FC) and variable costs (VC) associated with each CAM alternative. Review the course document in your Weekly Resources entitled, “ Cost-Effective Analysis for Proposed Alternative Interventions for Unresolved Lower Back Pain.” Search the Walden Library for scholarly sources to support CAM options.
To complete this Application Assignment, you will: 1) complete a cost-effective analysis using the data provided in this week’s course documents, 2) create a 9- to 12-slide PowerPoint presentation of your CEA results, and 3) prepare a 1- to 2-page document containing your presentation talking points.
Please be aware that you will submit three files for this assignment.
Part I: The CEA
Using the data provided in the Splendid Hills Hospital scenario, insert the fixed and variable costs associated with each CAM alternative into the spreadsheet. The data will be entered into the cells shaded green. Do not enter data in the cells shaded in red. The spreadsheet will automatically calculate annual costs. Once you have your cost results, you and the committee will be able to propose the most cost-effective CAM alternative. Save your results in the Excel spreadsheet for submission.
Part II: The Presentation of the CEA
In order to communicate your results, you will prepare a professional presentation for delivery to the members of the senior leadership team. You will prepare a PowerPoint slide deck comprised of 9–12 slides (not including title and reference slides). The following are the minimum slide expectations:
- Title slide
- Discuss the concept of complementary and alternative medicine (CAM)
- Identify the three CAM alternatives being considered with brief description of each
- Identify the purpose and assumptions associated with a cost-effective analysis (CEA)
- Share why a CEA was appropriate for determining the CAM alternative
- Identify the FC, VC, and TC for acupuncture
- Identify the FC, VC, and TC for massage therapy
- Identify the FC, VC, and TC for spinal manipulation
- Discuss which alternative is considered the most cost-effective given the CEA results
- Discuss and support your recommendations for assessing the clinical outcomes following the rollout of your chosen CAM alternative
- References slide
Refer back to the Optional Resources, in Week 1, if you need a refresher on using PowerPoint.
Part III: Talking Points
It is important that professional PowerPoint slides remain uncluttered. Having talking points, or notes, to accompany your slides helps provide your audience with additional information while maintaining uncluttered visuals. For each of your content slides (not the title and reference slide), write a brief paragraph explaining the information on the slide. Then, compile these paragraphs into a 1- to 2-page document for submission.
Your written assignments must follow APA guidelines. Be sure to support your work with specific citations from this week’s Learning Resources and additional scholarly sources as appropriate. Refer to the Essential Guide to APA Style for Walden Students to ensure your in-text citations and reference list are correct.
Introduction to Health Care Economics & Financial Management
Chapter 7, “Cost Allocation and Cost-Finding”In their operating expense budgets, many health care settings budget and report indirect costs generated by departments that provide direct services. This chapter presents an overview of the allocation of indirect costs. The concepts of cost allocation and cost-finding are explained with examples from health care settings.
Chapter 8, “Break-Even Analysis”The break-even analysis calculates how much one should charge or how many patients must be seen to cover the cost of doing business in health care. This chapter addresses these factors and includes the calculation and application of the contribution margin as well as the importance of indirect and overhead costs.
Chapter 9, “Cost-Benefit Analysis and Cost-Effectiveness Analysis”Cost-benefit and cost-effectiveness analyses are the focus of this chapter. This chapter will explain how you evaluate the benefits and resources used between two or more alternative interventions.
You use the following documents as part of this week’s Application assignment:
Laureate Education, Inc. (Executive producer). (2011). Good Samaritan Hospital organizational chart—Week 5: Costs in health care. Baltimore, MD: Author.
This week Patient Care Manager Nadja Muchow shares her team approach to value, Vice President of Finance Deana Stout discusses the financial aspects of change in the hospital and Vice President of Strategic Planning and Business Development Jennifer Weiss Wilkerson shares how Good Samaritan involves physicians in its strategic planning for major capital and equipment needs.
Kee, J. E. (1999). At what price? Benefit-cost analysis and cost-effectiveness analysis in program evaluation. The Evaluation Exchange, 5(2 & 3), 4–5. Retrieved from http://www.hfrp.org/evaluation/the-evaluation-exchange/issue-archive/methodology-15/at-what-price-benefit-cost-analysis-and-cost-effectiveness-analysis-in-program-evaluation
Hutton, G. & Reyfuess, E. (2006). Guidelines for conducting a cost-benefit analysis of household energy and health interventions. World Health Organization. Retrieved from https://extranet.who.int/iris/restricted/bitstream/10665/43570/1/9789241594813_eng.pdf
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
- Given that individuals tend to judge the favorability of their outcomes relative to what others receive, what can be the result of someone getting rewarded for their performance but yet being disappointed in the reward that they receive?
Respond to the post of at least two peers, using 100 words minimum each.
[Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].
[Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review].
[Your initial posting should be completed by Thursday at 11:59 p.m. EST. All peer replies must be completed by Sunday at 11:59 p.m. EST].
[Your posts must be substantive and demonstrate insight gained from the course material. A peer response such as “I agree with her,” or “I liked what he said about that” is not considered substantive and will not be counted for course credit. A blank post just to review other submissions will not be tolerated].
· Select one (1) task and provide a one (1) sentence demonstration explaining how you would take the chosen task through Gagne-Briggs’ Nine Events.
· Based on the scenario, prepare a brief training cost analysis for a training program of your choice, including estimated time requirements for each task and relating those time requirements to the overall cost you have identified for the project. Then, briefly describe your strategy for implementation.
Please read the instruction carefully, and you use your own words to write, Thanks!
Essaysdesk.com: a professional writing service that provides original papers. Our products include academic papers of varying complexity and other personalized services, along with research materials for assistance purposes only. All the materials from our website should be used with proper references.