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FINANCIAL MARKET COURSES

Economic Indicators – National Accounts

The key national accounts figure for the financial markets is usually the percentage change in real GDP in the most-recent quarter, which helps confirm the rate of economic growth. For this reason, GDP is sometimes regarded as the ‘holy grail’ of economic indicators. Because of the detail available in GDP reports, they provide comprehensive information on supply and demand conditions, including information on any imbalances that may be developing over the business cycle.

 

This course looks at the importance of GDP as an economic indicator for the financial markets. Fundamental concepts and jargon that are key to interpreting national account statistics are explained in detail. The course also describes the general reaction of the various markets to GDP reports.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Recognize the importance of national account statistics to financial market participants

    Interpret the different measures of GDP, with particular emphasis on the reaction of the main financial markets to GDP reports

  • COURSE OUTLINE

    Topic 1: Fundamentals of National Accounts

    Why are National Accounts Important?

    National Accounts Jargon

    Standardization

    National Accounts – Publication Detail

    National Accounts – Release dates & Revisions

    Effect of Revisions on Markets

    Topic 2: Interpreting National Account Statistics

    GDP – Three Different Measures

    o GDP Expenditure Measure

    o GDP Income Measure

    o GDP Output Measure

    Considerations when Using GDP as an Indicator of Economic Activity

    o GDP or GNP?

    o Informal Economy

    o GDP Per Capita

    o Adjusting for Inflation

    o Growth Rates

    o Coincident Indicator

    Market Response to GDP Data

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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