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

Sebastian Hinde; Simon Mark Walker; Hugues Lortie-Forgues

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

Sebastian Hinde, Simon Mark Walker, Hugues Lortie-Forgues

Research output: Working paper › Discussion paper

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.

Original language	English
Place of Publication	York, UK
Publisher	Centre for Health Economics, University of York
Number of pages	16
Publication status	Published - 12 Nov 2019

Publication series

Name	CHE Research Paper
Publisher	Centre for Health Economics, University of York
No.	170

Keywords

Evaluation
economic evaluation
health economics
education
cost-effectiveness analysis

Access to Document

CHERP170_three_core_concepts_economic_evaluationFinal published version, 1.29 MB

https://www.york.ac.uk/media/che/documents/papers/researchpapers/CHERP170_three_core_concepts_economic_evaluation.pdf

Cite this

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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 hasbecome 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 fundingdecisions, potentially resulting in inefficient use of educational funding. ",

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AB - 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 hasbecome 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 fundingdecisions, potentially resulting in inefficient use of educational funding.

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