The master thesis investigates the economic effects of epidemics. There are three main issues: As a first approach the topic health in general and especially the measurability of health factors will be discussed, in order to get an overview of the various scopes of influence of health on economic variables. After this general consideration of health in economic models, follows an analysis of the impacts of economics on the individual decisions of the agents of the economy. Employing an overlapping generations model, one attempts to analyse the fertility decisions of the agents under the influence of epidemiologic shocks. Before considering the general equilibrium of the economy, we will look at partial equilibriums of the households and the firms. The epidemic will then be simulated by mortality shocks of both children and adults, but seperately. Subsequentely the effects of epidemics on economic growth will be analyzed. Therefore one has to classify epidemics into "short-lived" and "long-lived" epidemics. Short-lived epidemics will be analyzed by the reference to the Spanish-flu. The HIV/AIDS-epidemic represents long-lived epidemics. The analysis of the Spanish flue will be conducted both in an one-sector-model and a two-sector environment. The two-sector-model includes the derivation of the equilibrium and implements an analysis of the stability. The results are displayed grafically by the use of phase diagrams. The analysis of the HIV/AIDS-epidemcs happens through the investigation of four main effects, which are considered separately. The primary objective of this master thesis was to get an overview over the various effects of epidemiologic shocks on economies. Therefore the impacts are considered both at the microlevel as well as the macrolevel. The abundance of the various models reflects the complexity of this topic.