Introduction

Fifty years ago health economics was a minor sub-specialty in economics with little attention from academics or the general public. Now it is a large field with thousands of professionals around the world. It is a rare week in the United States that does not feature at least one major health economics story: sky-high drug prices, contested merger proposals, rising insurance premiums, a surge in suicides, or other health issues. It is the responsibility of health economists to provide understanding of the complex interactions of patients, physicians, drug companies, hospitals, insurance companies, and other stakeholders in the more than three trillion dollar a year U.S. health economy. Some health economists teach in economics departments, others in schools of business, public health, medicine, or public policy. Some are researchers in industry, government, or non-profit institutes…