The Economic Principles of my Cancer Treatment: How to Use Medical Experiences to Teach Economics
17 Pages Posted: 3 Nov 2008
Date Written: April 21, 2008
This paper uses specific examples from my cancer treatment to illuminate multiple concepts that are typically covered in economic principles classes. Economics is a method of thinking that reveals itself in all aspects of life and a good economics instructor should be able to recognize and adapt these economic concepts in even his or her most severe life experiences. The real events of my treatment serve to illustrate and further clarify basic economic concepts such as inelasticity, cost-benefit analysis, bundling, the concept of a second best world, and marginal decision making. This paper illustrates how an economics instructor can use personal medical examples to make the course material salient to students while bolstering their confidence in the economic way of thinking.
JEL Classification: A22
Suggested Citation: Suggested Citation