vs 

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"Of course" is a form of "of course", a phrase which is often translated as "por supuesto". "There is" is a phrase which is often translated as "hay". Learn more about the difference between "there is" and "of course" below.
there is(
thehr
 
ihz
)
A phrase is a group of words commonly used together (e.g., once upon a time).
phrase
a. hay
There is a circus in town.Hay un circo en la ciudad.
a. está
Sheila lives here, and there is my house over there.Sheila vive aquí, y mi casa está allá.
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of course(
uhv
 
kors
)
A phrase is a group of words commonly used together (e.g., once upon a time).
phrase
a. por supuesto
Are you coming with us? - Of course!¿Vienen con nosotros? - ¡Por supuesto!
b. claro
Could you help me with this? - Of course!¿Me podría ayudar con esto? - ¡Claro!
c. desde luego
Of course you are right, as always.Desde luego que tienes razón, como siempre.
d. cómo no
Are we invited? - Of course!¿Estamos invitados? - ¿Cómo no?
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