Introduction to Gross Domestic Product
Learn more about the fundamentals of gross domestic product (GDP) and how it indicates the economic health of a country.
Take this certificate on your own.
Start now and learn at your own pace.
CertificationView course modules
This course begins by discussing the Circular Flow of Income and Expenditures. You will study the components of Gross Domestic Product to better understand what is counted in GDP and what is not counted. You will look into the Final and Intermediate GDP Contributions, investment which is the accumulation of capital goods, and consumption which are the activities that directly provide utility to people. You will also learn about income and expenditure views of GDP.
You will then look into the components of GDP. There are four components of a gross domestic product which are personal consumption, business investment, government spending, and net exports. You will look into examples of accounting for GDP and study the difference between Real GDP and Nominal GDP. This course will also discuss the GDP Deflator and give you an example of how to calculate real GDP with a Deflator.
Gross Domestic Product (GDP) is a very important topic to understand in economics. Upon the completion of this course, you will have a better understanding of the circular flow of money in an economy, the basic components of GDP, and the difference between Real and Nominal GDP. You will also gain better insight into how the economists view investment versus consumption as well as learn how to calculate the GDP Deflator. Check out this course and see how the economies of countries work!
Module 1: Introduction to Gross Domestic Product in Economics
Circular Flow of Income and Expenditures
Parsing Gross Domestic Product
More on Final and Intermediate GDP Contributions
Investment and Consumption
Income and Expenditure Views of GDP
Components of GDP
Examples of Accounting for GDP
Real GDP and Nominal GDP
Example Calculating Real GDP with a Deflator
Module 2: Introduction to Gross Domestic Product Assessment
Learning outcomes: - Understand the circular flow of money in an economy; - Learn about the basic components of GDP; - See how the economists view investment versus consumption; - Understand the difference between Real and Nominal GDP; - Learn how to calculate the GDP Deflator; - See how to calculate real GDP using the Deflator;
All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:
Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning
Alison offers 3 types of Certificates for completed Certificate courses:
Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping
All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.