Hinde, Sebastian orcid.org/0000-0002-7117-4142, Walker, Simon Mark orcid.org/0000-0002-5750-3691 and Lortie-Forgues, Hugues orcid.org/0000-0002-4060-8980 (2019) Applying the three core concepts of economic evaluation in health to education in the UK. Discussion Paper. CHE Research Paper . Centre for Health Economics, 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.
Metadata
Item Type: | Monograph |
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Authors/Creators: |
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Keywords: | Evaluation,economic evaluation,health economics,education,cost-effectiveness analysis |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > Centre for Health Economics (York) The University of York > Faculty of Social Sciences (York) > Education (York) The University of York > Faculty of Social Sciences (York) > Centre for Health Economics (York) > CHE Research Papers (York) |
Depositing User: | Pure (York) |
Date Deposited: | 21 Nov 2019 09:30 |
Last Modified: | 16 Oct 2024 11:39 |
Status: | Published |
Publisher: | Centre for Health Economics, University of York |
Series Name: | CHE Research Paper |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:153488 |
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