Overview

This eCourse consists of three modules. Module 1 provides a high-level overview of Gross domestic product (GDP) and highlights key factors to consider when using GDP data.

Module 2 provides a high-level overview of GDP growth and highlights key factors to consider when using GDP growth estimates as an economic indicator.

Module 3 gives a high-level overview of fiscal policy and how it can affect the economy.

Objective

On completion of this tutorial, you will be able to:
- Define gross domestic product and list three approaches to estimating GDP
- Identify and define alternative measures of economic activity
- Determine the impact of inflation on GDP estimates
- Recall the chain-weighted method of estimating real GDP
- List the limitations of GDP as a measure of living standards
- Define GDP growth and determine why it is a useful economic indicator
- Interpret adjusted GDP growth measures
- Recall supply-side and demand-side theories of GDP growth
- Define the GDP multiplier
- Identify the impact GDP growth data may have on financial markets, including fixed-income, equity, foreign exchange and commodity markets
- Define fiscal policy and list its component
- Determine the relationship between fiscal policy and GDP
- Quantify the impact of fiscal policy using the GDP multiplier
- List the limitations of fiscal policy

Content

Module 1: GDP – An Introduction
Topic 1: Overview of GDP
Topic 2: GDP & Inflation
Topic 3: Limitations of GDP

Module 2: GDP Indicators
Topic 1: GDP Growth
Topic 2: Theories of GDP Growth
Topic 3: GDP Growth & Markets

Module 3: Fiscal Policy Analysis
Topic 1: Fiscal Policy Overview
Topic 2: Fiscal Policy in Action
Topic 3: Fiscal Policy Limitations