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Understanding National Accounts

Second Edition

image of Understanding National Accounts

This second edition of Understanding National Accounts, that provides a comprehensive explanation of how national accounts are compiled, contains new data and new chapters, and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010, that came into effect in September 2014. It approaches national accounts from a truly global perspective, with special chapters dedicated to international comparisons, globalisation and well-being as well as to the national systems used in major OECD economies, such as the United States.

Each chapter of the manual uses practical examples to explain key concepts in national accounts in a clear and accessible way. And, each chapter concludes with a synthesis of key points covered in the chapter, followed by resources for further exploring the topic, and by a set of exercises to test your knowledge. It is an ideal guide to national accounts for students and other interested readers.

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Defining final uses of GDP

Changes in the final uses of GDP, or demand, determine the growth of real GDP in the short term. Governments generally try to influence three variables in order to maintain growth at a rate that keeps inflation and employment at the desired levels: demand from households, public consumption and investment. Together, these variables are known as domestic demand. Economists look at this demand, as well as at external demand and net exports, when trying to predict future economic developments. This chapter looks at measuring and shaping demand and at what is contained in each of the components of final uses.

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