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    The Policy Responses

    We need to think of economic policy as some path co-ordinating monetary, financial and fiscal policy. The economic landscape that has been outlined implies some new cyclical and structural economic policy options facing the UK. These concepts will be discussed in this final lecture of the year.

    The External Financing Position

    For most of the period since we have had records, the UK has held a positive net international investment positions versus the rest of the world. But the UK is now a net debtor. What are the reasons for this extraordinary reversal and what does it mean for the exchange rate?

    Bach's 'Orgelbüchlein' (Little Organ Book)

    A musical journey into The Orgelbüchlein - the jewel in Bach's organ music - a collection of magnificent miniatures which encompass all the musical emotions and which allow the organist to show all the colours and sonorities of the instrument at his disposal.

    Debt and the Household Balance Sheet

    A consideration of the evolution of the asset and liability position of the UK's household, firm and government sector prior to the financial crisis and where we currently stand in terms of adjustment that is still required.

    Macroeconomics, Capitalism and Inequality

    Rapid economic growth in the emerging worlds has placed downward pressure of manufacturing wages in the advanced world. With increasingly lower real interest rates putting upwards pressure on asset prices, these twin forces have the propensity to accelerate income inequality. What do the facts say?

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