Mark Carney on the Today programme

Following Wednesday's lower unemployment figures, and the Bank of England's lowering of growth expectations for 2015, Mark Carney was interviewed on the Today programme this morning, and gave a brilliant 10-minute lesson about productivity, economic recovery, spare capacity, immigration, headwinds and tailwinds, deflation and monetary policy. Well worth getting all students to listen as they prepare for macro exams in the next few weeks. There are two ways to do so: to hear the full interview, for the next 29 days you can go to the Today programme for 14th May on iPlayer, and move the cursor to start playing 2hours 10minutes into the programme. Alternatively, you can hear a 7-minute clip from the interview here - although that misses some of the pertinent comments about productivity.