National Accounts


The conception and set up of a system of accounts, at macroeconomic level, presents several potentialities allowing for comparisons across time and space. It is a complete, integrated and consistent set of accounts that allows for the recording of economic operations and activities that occur between the different institutional sectors of a given economy and, at the same time, between that economy and the rest of the world. The aim of the course is to present the theoretical concepts and the framework provided by the system of national accounts, namely, the System of National Accounts 2008 and the European System of National and Regional Accounts in the European Union 2010. The practical application of the concepts to concrete cases will also be presented and discussed.

General characterization





Responsible teacher

Susana Filipa de Moura Lima


Weekly - Available soon

Total - Available soon

Teaching language

Portuguese. If there are Erasmus students, classes will be taught in English


Not applicable.


Principal; System of National Accounts 2008 ¿ 2008 SNA and The European System of Regional and National Accounts (ESA 2010); Banco de Portugal, Methodological changes: ESA 2010 and BPM6; Eurostat Manual on the Changes between ESA95 and ESA2010 - 2014 edition; Manual on Government Deficit and Debt - Implementation of ESA 2010 - 2014 edition

Teaching method

The course will be delivered through presentations. Whenever possible, teachers will take advantage of audiovisual support and examples. Theoretical lectures are foreseen for the presentation of concepts and methods that integrate the content of the course as well as discussion of concrete cases and practical application of the concepts.

Evaluation method

Mid-term test: 50%. The mid-term exam is mandatory. Minimum grade to have final approval: 8/20.
2nd test: 50%. Minimum grade to have final approval: 8/20.

Final exam (2nd period only): 100%

Final grade = max (average mid-term and 2nd test; final exam)

Subject matter

 Structure of the course and references to the relevant SNA2008 and ESA2010 chapters
1. Introduction and general framework
a. What: Introduction and overview; compilation and sequence of accounts
SNA2008: chap. 1; chap. 2; chap. 16
ESA2010: chap. 1; chap. 8; chap. 23; chap. 24
b. Who: Institutional units and sectors
SNA2008: chap. 4; chap. 21
ESA2010: chap. 2

c. How: Stocks and flows, assets and liabilities, accounting rules. Indicators beyond GDP.
SNA2008: chap. 3; chap. 13; chap. 15; chap. 18
ESA2010: chap. 1; chap. 10; chap. 212. The non-financial accounts
a. The production account
SNA2008: chap. 6; chap. 14; chap. 28
ESA2010: chap. 3; chap. 9
b. The distribution and redistribution of income accounts
SNA2008: chap. 7; chap. 8
ESA2010: chap.4
c. The use of income accounts
SNA2008: chap. 9
ESA2010: chap.4
d. The capital account
SNA2008: chap. 10; chap. 13
ESA2010: chap. 3; chap. 4; chap. 7
3. The financial accounts
a. General principles
SNA2008: chap. 11
ESA2010: chap. 5
b. Financial instruments
SNA2008: chap. 11; chap. 12; chap. 17.4
ESA2010: chap. 5
c. The financial account of the institutional sectors. Macroeconomic Imbalance Procedure (MIP) Scoreboard.
SNA2008: chap. 11; chap. 12; chap. 13; chap. 17.4; chap. 26; chap.27
ESA2010: chap. 6; chap. 7; chap. 18
d. Compilation and flow-of-funds
SNA2008: chap. 27
4. Public finances
SNA2008: chap. 22
ESA2010: chap.17; chap. 20
a. Sector delimitation and general principles
b. Financial and non-financial operations
c. Public debt and deficit-debt adjustment