TARGET GROUP | Compilers of national accounts statistics employed by agencies responsible for official national accounts data. Participants should have a degree in economics or statistics or equivalent experience.
DESCRIPTION | This two-week course, presented by the IMF’s Statistics Department, covers theoretical and practical aspects of compiling national accounts statistics based on the System of National Accounts 2008 (2008 SNA). The course consists of lectures on methodological and compilation issues covered in the 2008 SNA and workshops consisting of practical exercises in compiling accounts. The purpose of the course is to train participants in how to compile annual GDP both at current prices and in volume terms using the production and expenditure approaches. The course starts with an overview of the system of national accounts, presenting the sequence of accounts for transactions and other flows as well as balance sheets, based on the 2008 SNA. It covers the main concepts related to transactions, other economic flows, stocks, institutional units, classifications, and the main macroeconomic aggregates measured by the system. The main lectures and workshops cover (1) the production account, covering definition and measurement of output, intermediate consumption, and value added; valuation issues; and the treatment of particular industries; (2) source data and issues in the compilation of GDP using production and expenditure approaches; (3) deflators and derivation of volume measures of GDP; and (4) specific issues related to goods and services transactions, including supply and use framework, inventory valuation adjustment, consumption of fixed capital, and the non-observed and informal economy. Sharing country experiences among the participants is also emphasized.
OBJECTIVES | Upon completion of this course, participants should be able to:
• Understand the main concepts and definitions of the 2008 SNA
• Describe the compilation of GDP using production, expenditure, and income approaches
• Discuss the importance of price and volume measures in national accounts
• Explain the value of high-quality national accounts statistics to policymakers and business decision-makers