Course: Teaching Vaccine Economics Everywhere: Economic Evaluation

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Course Description

This course will enable students to have a solid introduction to the theory, methods, and application of economic evaluation in health care with a specific focus on decision analysis and cost-effectiveness analysis. alternative approaches of modeling research questions for these fields. Approaches include calculation of costs and effectiveness measures using standard modeling methods. Compares outputs as a result of decision tree and Markov modeling and introduces sensitivity analysis.

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Course Objectives

At the conclusion of this course, students will be able to:

  • Define Basic Concepts of Economic Evaluation
  • Understand different Methods and Tools of Economic Evaluation
  • To define the scope of an economic evaluation
  • To understand how to frame comparators for your audience based on a target population
  • What are the alternatives to a vaccine program?
  • To define the perspectives impacted by a vaccine program
  • To understand how to frame the time horizon of a vaccine program
  • To consider the impact of vaccines on different stakeholders at different time points
  • To differentiate between uses of decision tree and Markov model
  • To identify study designs that contribute to better cost, effectiveness and probability parameter estimates
  • To understand the process of probability extraction from high-quality sources
  • To describe measurement of health gains in terms of health state preference and natural units
  • To provide background on the rationale and importance of Decision Analysis (DA) and Cost-effectiveness Analysis (CEA)
  • To explain the theoretical foundations DA/CEA


Course readings are listed on the Readings page.

Course Sessions and Credit Hours

  • Overview of Decision Analysis and Cost-Effectiveness (1 Hour)
  • Defining the Scope of a Cost-effectiveness Analysis I (1 Hour)
  • Defining the Scope of a Cost-effectiveness Analysis II (1 Hour)
  • Study Design Components of Economic Evaluation (1 Hour)
  • Measuring and Valuing Costs (4 Hours)
  • Measuring and Valuing Health Outcomes (1 Hour)
  • Reporting and Interpreting Results of Economic Evaluation (2 Hours)
  • Introduction to Decision Tree Modeling (4 Hours)