This course examines the big-picture issues that affect households, businesses and governments. The emphasis is on practical approaches and on the use of macroeconomic theory to understand real-world policy debates. Topics include living standards, economic growth, population growth and real interest rates, the business cycle, fiscal and monetary policy, banking crises, financial crises and economic instability, a historical perspective of financial market institutions, labour markets, and income distribution. By bringing together applications of contemporary macroeconomic models with the wisdom of recent economic history, this subject aims to bring students closer to the world of economic policy and its challenges.