Question

4. (25%) The coronavirus pandemic shocked our economy fundamentally and it affects lives around us. Governor Cuomo talked about the shortage of facemasks in his daily briefs. Please provide some policy suggestions to Governor Cuomo on resolving this issue in the short run, USING the knowledge you learned in Econ 360 for your arguments (hint: do not wander into the domain of medical ethics).

Answer 1

Shortage in economic terms is, the condition where the quantity demanded is greater than the quantity supplied in the market price.Three main causes of shortage is- increase in demand, decrease in supply, and government intervention.

Global pandemic situation created due to spread of novel Corona virus, not only affected the health and lives of people but also resulted in shortage of essential healthcare products like masks, sanitizers,handwashes and so on. Following are the strategies or opnions to optimixe supplies of facemasks in healthcare settings when there is a limited supply.

Minimize disruptions while importing- This means that when the product coming from overseas there quick enter and minimized hindrance will helpful in easy and fast avialability of the product.

Recognize the need of essential equipments which may outpace the supply available and issue immideate guidance or policy intended to help increse availabilty of these esentials.

Efforts to detect and mitigate potential supply chain disruption. Early communication and detailed notifications fromm manufacturers play a significant role in decreasing the incidence, impact, and duration of such disruptions. Proactive steps to be taken to remain connected with manufacturers and others in the supply chain, to encourage them to report any supply disruptions and shortages timely.

Conservation strategy-There should be proper knowledge about the facemask inventory and supplychain, facemask utilisation rate,communications with local healthcare caolitions,federal,state, and local public health partners regarging identification of additional supplies.

Implement extended use of facemasks. practice of wearing the same mask for rep[eated close contact encounters with several different patients.

Implement limited re-use of facemasks.

Replacement with homemade masks

Mitigation strategy-Selectively cancel elective and non urgent procedures and appointments for which a facemask is typically used by healthcare personnel.

Remove facemasks for visitors in public ares. Fcemask can be available to provide to symptomatic patients upon checkin at entry points.