Ronald holds a BA (hons) from Heriot Watt University and an MA (Econ) and PhD from the University of Manchester. He is currently a Research Professor in Macroeconomics and International Finance. Prior to this he held the Bonar Macfie Chair of economics, 2005-2006, and the Adam Smith Chair of Political Economy 2006-2015, both at the University of Glasgow. From 1992 to 2004 he was Professor of International Finance at the University of Strathclyde and from 1989-91 held the Robert Fleming Chair in Finance and Investment, at the University of Dundee.
His peer reviewed papers are published in the professions’ leading journals, including The Economic Journal, Economica, The Review of Economics and Statistics, European Economic Review, The Journal of Monetary Economics, The Journal of Money Credit and Banking, The Journal of International Money and Finance, The Journal of Banking and Finance, IMF Staff Papers, The Journal of Business, Economics and Statistics.
Ronald has acted as a consultant on exchange rate and currency issues to the European Commission, General Secretariat for Development Planning, Qatar, the European Central Bank, the Monetary Authority of Singapore and the Reserve Bank of New Zealand and has also been a visiting scholar to the Deutsche Bundesbank, the Austrian Central Bank, and the Norwegian Central Bank. Additionally, he has been a visiting Scholar and Consultant to the Research Department of the IMF on 13 separate occasions, Visiting Economist to the African department of the IMF and appointed a Monetary Advisor to the IMF in 2012. He has also been a consultant to a number of private sector institutions, including Royal Bank of Scotland (in the 1990s), Credit Suisse First Boston, Gartmore and Deutsche Morgan Grenfell.
He has also been a visiting Professor in a number of institutions including: Queen's University, Kingston, Canada; University of New South Wales, Sydney, Australia; University of Malta; European University Institute Florence, Italy; University of Cergy-Pontoise, Paris, France; Zentrum fur Europaische Wirschaftsforschung, Mannheim, Germany; Centre for Economic Studies, University of Munich; University of Paris XIII, Paris, France.
Since the creation of the Scottish Parliament, Ronald has been active in the debate about devolving more powers to the Parliament and has written a number of papers and a book on this topic. More recently, he has been involved in the debate surrounding the economics of an independent Scotland and contributed extensively to the Scottish Independence Referendum debate and continues to contribute to the ongoing debate on this topic: see his blog at: http://ronaldmacdonaldblog.tumblr.com.
In 2002 Ronald was elected a fellow of the Royal Society of Edinburgh and resigned that position in 2014. He is also a Research Fellow of the CESifo Research Network, Munch, and an International Fellow of the Kiel Institute of Economic Policy. He is an associate editor for six economics journals and has over 10,000 citations recorded on Google Scholar to his written work. He has raised over £2 million pounds in research Funding from bodies such as the ESRC, the European Commission and Leverhulme and he consistently ranks in the top 1% of the IDEAS/ RePec ranking of economists in the UK, Europe and in the World. Ronald was awarded an OBE in the 2015 Queens Birthday Honours list for services to Economic Policy.