Information regarding our 2023/24 admissions cycle

Our 2023/24 postgraduate taught admissions cycle will open on Monday, 10 October. For most programmes, the application form will not open until this date.

PG Credit Genomic Medicine CPD

Year of entry: 2023

Course unit details:
Economics of Genomics and Precision Medicine

Course unit fact file
Unit code BIOL67372
Credit rating 15
Unit level FHEQ level 7 – master's degree or fourth year of an integrated master's degree
Teaching period(s) Semester 2
Offered by School of Biological Sciences
Available as a free choice unit? Yes


This unit will provide the student with the skills to understand economic evidence generated from model-based economic evaluations of interventions relevant to human genomics. The aim is for students to be able to critically appraise model-based economic evaluations to assess whether the evidence is relevant to their jurisdiction and particular resource allocation decision problem. The course materials will provide an introduction to the key economic principles and theories that underpin the use of methods of economic evaluation, describe the different methods of economic evaluation, the role of model based economic evaluations and provide applied examples of how to structure and critique model-based economic analyses.


The aim of this module is to enable students to understand the role and application of model-based economic evaluations in the context of evaluating human genomic technologies and services.

 The specific course objectives are to:

  • Understand the concept of opportunity cost and its role in decision making
  • Understand the theories underpinning the economic evaluation of healthcare interventions
  • Understand the different methods and types of economic evaluation with their advantages and disadvantages
  • Understand the advantages and disadvantages of using trial or model-based economic evaluations to generate economic evidence suitable for resource allocation decision making
  • Understand the different types of model-based economic evaluations
  • Understand the basic approach to conceptualise and structure a model-based economic evaluation
  • Understand how to value patient benefits for use in model-based economic evaluations and the role of health status and quality adjusted life years
  • Be aware of other measures of benefit that extend beyond health status
  • Understand how to identify and quantity resource use and costs for use in model-based economic evaluations
  • Understand how to populate a model-based economic evaluation
  • Know how to critically appraise published model-based economic evaluations of genomic technologies and services

Teaching and learning methods

Interactive face to face lectures

Interactive structured workshops

Online video lectures

Online discussion forum

Structured tasks for student to complete on their own and feedback in a group session

Knowledge and understanding

  • Illustrate opportunity cost
  • Appraise key theories underpinning methods of economic evaluation
  • Compare the methods and types of economic evaluation
  • Appraise the role and types of model-based economic evaluations
  • Demonstrate the importance of model conceptualisation
  • Assess the principles of how to structure and populate a model-based economic evaluation
  • Define what is a quality adjusted life year
  • Define the types of healthcare resource use and costs

Apply the available tools to critically appraise published model-based economic evaluations

Intellectual skills

  • Critical appraisal of economic evidence
  • Quantitative analytical skills

Practical skills

Use of Excel to build an economic model

Transferable skills and personal qualities

  • Group working
  • Develop critical thinking and appraisal of evidence

Assessment methods

Method Weight
Written exam 50%
Written assignment (inc essay) 50%

Feedback methods

Written Feedback given.

Recommended reading

Includes but is not limited to:

  • Rachel A Elliott & Katherine Payne. Essentials of economic evaluation in health care. The Pharmaceutical Press, January 2005. ISBN 0 85369 574 1
  • Michael F. Drummond, Mark J. Sculpher, George W. Torrance, Bernie J. O'Brien, and Greg L. Stoddart. Methods for the Economic Evaluation of Health Care Programmes. Third Edition. Oxford University Press, 2005. ISBN 978-0-19-852945-3
  • J. Jaime Caro, Andrew H. Briggs, Uwe Siebert, Karen M. Kuntz.  Modeling Good Research Practices—Overview: A Report of the ISPOR-SMDM Modeling Good Research Practices Task Force-1. Value in Health 2012; 15 (6): 796–803
  • Mark Roberts, Louise B. Russell, A. David Paltiel, Michael Chambers, Phil McEwan, Murray Krahn. Conceptualizing a Model: A Report of the ISPOR-SMDM Modeling Good Research Practices Task Force-2. Value in Health 2012; 15(6): 804–811
  • Uwe Siebert, Oguzhan Alagoz, Ahmed M. Bayoumi, Beate Jahn, Douglas K. Owens, David J. Cohen, Karen M. Kuntz. State-Transition Modeling: A Report of the ISPOR-SMDM Modeling Good Research Practices Task Force-3. Value in Health 2012; 15(6): 812–820
  • Jonathan Karnon, James Stahl, Alan Brennan, J. Jaime Caro, Javier Mar, Jörgen Möller. Modeling using Discrete Event Simulation: A Report of the ISPOR-SMDM Modeling Good Research Practices Task Force-4. Value in Health 2012; 15 (6): 821–827
  • Richard Pitman, David Fisman, Gregory S. Zaric, Maarten Postma, Mirjam Kretzschmar, John Edmunds, Marc Brisson . Dynamic Transmission Modeling: A Report of the ISPOR-SMDM Modeling Good Research Practices Task Force-5. Value in Health 2012; 15 (6): 828–834
  • Don Husereau, Michael Drummond, Stavros Petrou, Chris Carswell, David Moher, Dan Greenberg, Federico Augustovski, Andrew H. Briggs, and others. Consolidated Health Economic Evaluation Reporting Standards (CHEERS)—Explanation and Elaboration: A Report of the ISPOR Health Economic Evaluation Publication Guidelines Good Reporting Practices Task Force. Value in Health 2013; 16 (2): 231–250
  • Maria Cristina Peñaloza Ramos, Pelham Barton, Sue Jowett, Andrew John Sutton . A Systematic Review of Research Guidelines in Decision-Analytic Modeling. Value in Health 2015 (in press)
  • J. Jaime Caro, David M. Eddy, Hong Kan, Cheryl Kaltz, Bimal Patel, Randa Eldessouki, Andrew H. Briggs.  Questionnaire to Assess Relevance and Credibility of Modeling Studies for Informing Health Care Decision Making: An ISPOR-AMCP-NPC Good Practice Task Force Report. Value in Health 2014; 17(2): 174–182

Drummond, M, Barbieri, M, Cook, J, et al.  Transferability of Economic Evaluations Across Jurisdictions: ISPOR Good Research Practices Task Force Report. Value in Health 2009;12:4:409-418

Study hours

Independent study hours
Independent study 150

Teaching staff

Staff member Role
Katherine Payne Unit coordinator
Alexander Thompson Unit coordinator

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