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Applying the three core concepts of economic evaluation in health to education in the UK

Author

Listed:
  • Sebastian Hinde

    (Centre for Health Economics, University of York, York, UK)

  • Simon Walker

    (Centre for Health Economics, University of York, York, UK)

  • Hugues Lortie-Forgues

    (Department of Education,University of York, York, UK)

Abstract

In a UK policy context, education and healthcare sectors share many characteristics; however, the role of economic evaluation in informing policy making is very different. While in health it has become a key part of the deliberative processes of the National Institute for Health and Care Excellence (NICE) in their recommendations to the NHS, it has not played the same role in education. In this article we explore three key components that are required to underpin robust evaluations: a clear perspective, the identification of a single maximand, and recognition of the opportunity costs. We demonstrate the importance of each, how it has been applied in the NICE framework, and how it may be implemented in a UK education setting. We conclude that the failure in education to address the three components has reduced the ability to consider the cost-effectiveness of funding decisions, potentially resulting in inefficient use of educational funding.

Suggested Citation

  • Sebastian Hinde & Simon Walker & Hugues Lortie-Forgues, 2019. "Applying the three core concepts of economic evaluation in health to education in the UK," Working Papers 170cherp, Centre for Health Economics, University of York.
    • Handle: RePEc:chy:respap:170cherp
    as

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    File URL: https://www.york.ac.uk/media/che/documents/papers/researchpapers/CHERP170_three_core_concepts_economic_evaluation.pdf
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    References listed on IDEAS

    as
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    3. Karl Claxton & Simon Walker & Steven Palmer & Mark Sculpher, 2010. "Appropriate Perspectives for Health Care Decisions," Working Papers 054cherp, Centre for Health Economics, University of York.
    4. Simon Walker & Susan Griffin & Miqdad Asaria & Aki Tsuchiya & Mark Sculpher, 2019. "Striving for a Societal Perspective: A Framework for Economic Evaluations When Costs and Effects Fall on Multiple Sectors and Decision Makers," Applied Health Economics and Health Policy, Springer, vol. 17(5), pages 577-590, October.
    5. Sen, Amartya K, 1979. "Personal Utilities and Public Judgements: Or What's Wrong with Welfare Economics?," Economic Journal, Royal Economic Society, vol. 89(355), pages 537-558, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Evaluation; economic evaluation; health economics; education; cost-effectiveness analysis;
    All these keywords.

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