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Introduction to Gross Domestic Product


Introduction to Gross Domestic Product
Introduction to Gross Domestic Product

Learn more about the fundamentals of gross domestic product (GDP).


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Course Description

Gross Domestic Product (GDP) is a very important topic to understand in economics. It measures the monetary value of final goods and services of a country within a given time period and is a key metric which can be used to gauge a country's standard of living. In this free online economics course you will start by learning about the circular flow of money in an economy. The components of Gross Domestic Product are then identified and explained in terms of how different expenditure is categorised. A single Gross Domestic Product figure gives very little information so you will learn how to look at it in relation to past history by using Price Indexing to work out what is real growth and what inflation is when compared with a base year. This free online economics course will be of great interest to economics, finance and business professionals who would like a better understanding of Gross Domestic Product and its role as an indicator of the economic health of a country, and to any learner who wants to have a better understanding of financial news and how the economies of countries work.

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Learning Outcomes

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;


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Module Title
Module 1: Introduction to Gross Domestic Product in Economics
Module 2: Introduction to Gross Domestic Product Assessment

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Course Rating (By Learners): 4 stars based on 20 reviews
Course Title: Introduction to Gross Domestic Product
Course #: 538
Course Publisher: Khan Academy
Course Category: 2
Content Origin:
Course Description: Gross Domestic Product (GDP) is a very important topic to understand in economics. It measures the monetary value of final goods and services of a country within a given time period and is a key metric which can be used to gauge a country's standard of living. In this free online economics course you will start by learning about the circular flow of money in an economy. The components of Gross Domestic Product are then identified and explained in terms of how different expenditure is categorised. A single Gross Domestic Product figure gives very little information so you will learn how to look at it in relation to past history by using Price Indexing to work out what is real growth and what inflation is when compared with a base year. This free online economics course will be of great interest to economics, finance and business professionals who would like a better understanding of Gross Domestic Product and its role as an indicator of the economic health of a country, and to any learner who wants to have a better understanding of financial news and how the economies of countries work.
License: This course is available from Khan Academy OpenCourseWare through the following Creative Commons licence:
Creative Commons License
Release Date: 13 November 2012
Content  
Course Duration (Avg Learner): 1-2 Hours
Video/Audio: High
Audio Only: High
Animation: None
Assessments: Yes
Education Level
Age appropriateness: 18+ Years
Minimum Grade/Class Level: Post-Secondary
Validation: Level 5
ALISON Testing: Yes
Certification Availability
PDF Download: Yes
Parchment: Yes
Framed Certification: Yes

Study for Free at Your Own Pace! Start This Course

  • aaa
    Emerson Mrowinski Santos Canada All questions were well made. 2015-02-04 18:02:12
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    Uranus Poya Afghanistan it was good thanks 2014-12-23 11:12:05
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    Francisco Javier Flores Mexico Es bueno el curso. 2014-10-22 03:10:36
  • aaa
    Francisco Javier Flores Mexico Es un buen curso, muy bien explicado y digerible la informaciĆ³n. 2014-10-22 03:10:26
  • aaa
    Sumit Chowdhry India Great course for basic understanding of GDP. 2014-07-30 07:07:06
  • aaa
    Kevin Stevens United States of America This was a good course that was explained in an easy to understand way. 2014-07-27 00:07:49
  • aaa
    Bello Hassan Nigeria as an economist I really need to do this course 2014-07-02 22:07:05
  • aaa
    Godfrey Mbonu United States of America great stuff. Thanks 2014-06-08 16:06:18
  • aaa
    Muhammad Usman Pakistan a very useful course, where i learnt about GDP, Difference b/w Nominal & Real GDP, GDP deflator and their measurement with the help of simple example. 2014-06-06 19:06:42
  • aaa
    Luckson Ndamba South Africa the GDP it need to be understood to have a clear picture of economy in general 2014-06-02 22:06:43
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Free, Online Introduction to Gross Domestic Product Course.