Assignment -
1. A 60-year-old public health professor was diagnosed with cancer in 2004. She reduced her workload to part-time and received 30% of her previous income. This situation lasted for three years (2004 - 2006) before she finally quit her job and lost her entire income. She died in 2013. Assume that the average age of retirement for college professors is 65 years. Use information from the websites (Bureau of Labor Statistics) to calculate the monetary value of her lost productivity due to cancer from 2004 to 2013, in February 2009 dollars.
Earnings by professions, state, region, etc.
Trends in wages
Consumer price index:
(1) What is the total monetary value of her lost productivity due to cancer in February 2009 dollars? Briefly describe how you obtained the data.
(2) If QALY was used as outcome measure, which part of the lost productivity will be counted in the cost of cancer? Which part will not be counted and why not?
(3) What is the time horizon of this analysis?
(4) In general, what is the appropriate time horizon for the CEA of a new cancer treatment?
2. Find out how much the real growth in wage (buying power) was for the general U.S. population between 2003 and 2011, after paying for health insurance premium.
For insurance premium information, you can use Annual Employer Benefit Survey. Use worker's contribution to family premium, non-high-deductible plans (since this type of plan is relatively new).
3. A treatment costs $1000 currently (in 2018). If there is no change in medical technology and no inflation for the next three years, how much will it cost in 2021?
4. Assume that a discount rate of 3% is reflective of the preferences of a certain individual. Instead of asking this individual to pay $1000 annually for the next three years (2018, 2019, 2020), what will be an acceptable amount for the individual to willingly pay now?
Attachment:- Assignment File.rar