The University of Southampton

STAT6105 Economics and National Accounts

Module Overview

To provide a broad understanding of economic statistics, their history, role, uses and how they are measured, including the main conceptual frameworks used for the national accounts, the balance of payments and the measurement of the government sector.

Aims and Objectives

Module Aims

The aim of this module is to introduce the theory and practice of national accounts. The module aims to provide students with a broad understanding of economic statistics, their role, uses and how they are measured.

Learning Outcomes

Learning Outcomes

Having successfully completed this module you will be able to:

  • Explain the national accounting framework, and outline how national accounts are prepared in the UK
  • Distinguish between the different measures of Gross Domestic Product as well as the relationships between them, and to describe how GDP is measured in the UK in both nominal and in real terms
  • Explain what is meant by government debt and deficit and the key characteristics and conventions used in accounting for the activities of government
  • Explain the framework used to produce the UK Balance of Payments


- The History and Role of Economic Statistics: Brief history of economic statistics, with a focus on the need for and use of economic statistics with particular reference to the role of the National Accounts. - Concepts, Definitions and Classifications: Provides an overview of the Systems of National Accounts (SNA) and the European System of Accounts (ESA). - Measuring Economic Growth: Provides an overview of the three approaches to measuring GDP, as well as looking at the need to measure GDP in real terms. An introduction to the principles of price and volume will provide the background to the practical methods used to present the accounts in constant prices or in real terms. Also covered will be the role of prices in measuring inflation. - The European Union and the UK National Accounts in Practice: the importance of producing accounts within a common framework. Case Study: compiling a set of national accounts for an island economy to enable students to learn through doing, and consolidate the teaching.

Learning and Teaching

Teaching and learning methods

The course is based on lectures, with integrated class exercises.

Independent Study80
Total study time100

Resources & Reading list

IMF's Balance of Payments and International Investment Position Manual (BPM6). 

Government Finance Statistics Manual 2001 (GFSM 2001). 

Lequiller, F. and D. Blades (2014). Understanding National Accounts. 

The System of National Accounts 2008 (2008 SNA). 



MethodPercentage contribution
Exam  (2 hours) 100%


MethodPercentage contribution
Exam  (2 hours) 100%

Repeat Information

Repeat type: Internal & External


Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Approved Calculators

Candidates may use calculators in the examination room only as specified by the University and as permitted by the rubric of individual examination papers. The University approved model is Casio FX-570 This may be purchased from any source and no longer needs to carry the University logo.


You will be expected to provide your own day-to-day stationery items, e.g. pens, pencils, notebooks, etc.


Where a module specifies core texts these should generally be available on the reserve list in the library. However due to demand, students may prefer to buy their own copies. These can be purchased from any source. Some modules suggest reading texts as optional background reading. The library may hold copies of such texts, or alternatively you may wish to purchase your own copies. Although not essential reading, you may benefit from the additional reading materials for the module.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at

Share this module Share this on Facebook Share this on Google+ Share this on Twitter Share this on Weibo

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.