Course author
Hairo Senosain
Hairo is the author of GDP 150 and other courses in MCC's economics and quantitative methods series.
Quick Answer
GDP 150 is an advanced on-demand course that calculates and analyses a real economy's GDP. Using the United States in 2023, it measures GDP by spending, production and income, introduces basic models of consumption and investment, and compares GDP across countries. You get the video lecture, slides, a transcript and a quiz as soon as you buy.
Key takeaways
- The course applies all three GDP approaches to one real economy, the United States in 2023.
- Measuring GDP from the income side gives gross domestic income, which in principle matches GDP from spending.
- Basic models of consumption and investment explain what drives two of the largest parts of spending.
- An international comparison puts US GDP in a global context.
What will you be able to do after the course?
You will be able to work through a real country's GDP figures and explain what drives them. The course is built around three outcomes.
- Apply the three approaches. Calculate and read GDP for a real economy by expenditure, production and income.
- Use basic models. Explain consumer spending and investment with simple economic models.
- Compare economies. Take a global view of GDP and join critical discussion of economic policy.
What does the course cover?
The course follows the published highlights, and a quiz at the end tests your understanding.
- United States GDP: measured in billions of US dollars
- GDP 2023: expenditure approach: GDP from the spending side
- GDP 2023: production approach: GDP from the production side
- GDP 2023: income approach: gross domestic income, from the incomes earned
- Basic models: consumption: what drives consumer spending
- Basic models: investment: the role of investment in the economy
- International GDP comparison: A global view of GDP
What do the key terms mean?
These are terms you will meet in the course, in plain English.
| Term | Meaning |
|---|---|
| Expenditure approach | Measures GDP as total spending on final goods and services: consumption, investment, government spending and exports minus imports. |
| Production approach | Measures GDP by adding up the value added by every industry. |
| Gross domestic income (GDI) | GDP measured from the income side: the wages, profits and other incomes earned from production. |
| Statistical discrepancy | The gap between GDP measured by spending and by income, which arises because the two are built from different data. |
| Consumption | Spending by households on goods and services. It is the largest part of spending in most economies. |
| Investment | Spending on things that will be used to produce in future, such as buildings, machinery and software. |
Who is the course for?
It suits anyone who already knows how GDP is calculated and wants to apply it to real data.
- Students and professionals in advanced economics
- Anyone building policy analysis skills
- Decision makers in economic fields
- Policy analysts
- Researchers
Which courses should you take first?
GDP 150 is the final course in MCC's on-demand GDP series. It brings together the calculation methods from GDP 105, the concepts from GDP 110 and the behaviour of GDP components from GDP 120.
- 101What GDP is
- 105How GDP is calculated
- 110Alternative measures and additional concepts
- 120Behaviour of GDP components
- This course
Browse every title on the MCC Economics courses page.
Why learn this from MCC Economics?
MCC Economics is an independent consultancy, founded in London in 2017, that provides economic and financial analysis to governments, regulators and businesses. Its clients include Ofgem, Ofwat, the Department for Energy Security and Net Zero, the Abu Dhabi Department of Energy and the Civil Aviation Authority. Read more about its economic analysis work or meet the team on the people page.
MCC Economics has helped us better understand the most important issues for our stakeholders, including: charges, shareholder returns, debt payments and inflation impacts.
Questions buyers ask before registering
Who teaches GDP 150?
See the instructor profiles near the top of this page for the current teaching team.
Is there a live session?
No. GDP 150 is available on demand only and no meeting is held. You watch the recorded lecture at your own pace.
What do I get when I buy?
The video lecture, the slides, an audio transcript and a quiz.
Which country does the course use?
The worked example is the United States, using its 2023 GDP in billions of US dollars, followed by an international comparison.
What is gross domestic income (GDI)?
Gross domestic income measures GDP from the income side: the wages, profits and other incomes earned from production. In principle it equals GDP measured by spending, although the published figures usually differ slightly.
Do I need to know about GDP already?
Yes. GDP 150 is the advanced course in the series and applies the calculation approaches covered in GDP 105.
How much does it cost?
The MCC Economics courses page lists GDP 150 at £38.02. The final price is shown at checkout on Eventbrite.
Can my team take the course together?
Contact MCC Economics through the consultation page to discuss places for a team or training tailored to your organisation.
Page last reviewed October 2026.
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