Estimating GDP in practice

Objectives

(i) Describe some practical methods for estimating GDP in a timely way;

(ii) Explain practical steps in establishing a benchmark level of GDP and its components

(iii) Show how the SUT tool may be used to assist this balancing

up to 5 hours plus, exercise

  1. Compilers will have a better understanding of the relationships among SUT, and production- and expenditure-based GDP.
  2. Compilers able to identify existing and possible periodic data sources for building an SUT

Add to list developed in modules 3, 4 and 5 relating to possible future improvements. Identify any further prospective data sources

Materials

Up to 5 hours plus exercise

Measurement issues in GDP

Objectives

(i) Identify possible reasons why the production-based and expenditure-based estimates will almost certainly not balance; and

(ii) Show how the SUT tool may be used to assist this balancing.

3 hours plus exercise

3 hours plus exercise

Measuring expenditure on GDP

Objectives

Show how GDP may be compiled from the expenditure approach. Focus is on value estimates.

up to 6 hours plus exercise

Compilers understand the process of compiling expenditure-based GDP and can identify areas where improvements are necessary.

Identify areas where improvements might be made in the existing expenditure-based estimates with existing data sources. Identify possible new data sources.

Materials

Measuring GDP by expenditure

Download

Up to 6 hours plus exercise

The production account – measuring GDP

Objectives

Show how GDP may be estimated from the production side. Focus is on value estimates.

up to 6 hours plus exercise

Compilers understand the process of compiling production-based GDP and can identify areas where improvements are necessary.

Identify areas where improvements might be made in the existing production-based estimates with current data sources. Identify possible new data sources.

Materials

Production account, measuring GDP

Download

Up to 6 hours plus exercise