The Economic Impact of the Health Sector on the Economy of Appanoose County, Iowa
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The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).
History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.
Dates of Existence
1898–present
Historical Names
- Department of Economic Science (1898–1910)
- Department of Economics and Political Science (1910-1913)
- Department of Applied Economics and Social Science (1913–1924)
- Department of Economics, History and Sociology (1924–1931)
- Department of Economics and Sociology (1931–1967)
Related Units
- College of Agricultural and Life Sciences (parent college)
- College of Liberal Arts and Sciences (parent college)
- College of Business (parent college)
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Abstract
The importance of medical and health facilities as community service providers is well
established, yet their role in generating significant economic impacts for the community is less often acknowledged. Health care facilities, such as hospitals and nursing homes, not only employ many people with a sizeable payroll, but also draw a large number of people from rural areas into the community for medical services. In this study, we attempt to identify and measure the economic importance of the health sector for the economy of Appanoose County, Iowa. The specific objectives of this report are to:
1. summarize the direct economic activities of the health sector;
2. review concepts of community economics and multipliers related to healthcare; and
3. estimate the secondary impacts of the health sector on Appanoose County’s economy.