Question

In: Economics

What will be the factors in terms of benefits and costs to be considered to implement...

What will be the factors in terms of benefits and costs to be considered to implement a program for preparing for an epidemic in a metropolitan area?

Solutions

Expert Solution

Any sorts of epidemic (like coronavirus disease) have some disaster tendency. In order to prevent it, preparation should be made in advance. Implementing a program is that preparation.

Benefits: following factors should be considered:

No.1) how much time is required for the program to be effective – suppose there is a lockdown program and it will take 21 days rigorously to be effective.

No.2) the benefit of minimizing casualty – suppose 80% casualty (spread of the disease) could be prevented through the lockdown program.

No.3) the benefit on economy – the epidemic will certainly disturb the economy but the chance of recovery is quick by the program.

Cost: following factors should be considered:

No.1) during the period of program (lockdown) how to arrange funds for sufferer or poor – there may be a “relief” fund.

No.2) cost for protection for doctors, nurses, and medical staffs, since they will be in the battle ground (fighting with the disease for making patients fit); therefore, they could be infected quickly.

No.3) cost for infrastructural facilities – like ambulance, medical kit, mask, etc.    


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