Posted by Michael Wonder on 30 Jan 2022
Trade-offs and policy options - using insights from economics to inform public health policy
29 January 2022 - We believe that economics can critically inform public health efforts to address such challenges.
Alfred Marshall, writing in 1890, defined economics as “a study of mankind in the ordinary business of life…[that] examines that part of individual and social action which is most closely connected with the attainment and with the use of material requisites of well-being.”
Put simply, economics is the study of trade-offs that individuals, institutions, or countries face when making decisions under resource and time constraints.
