Ms. Macauley received a B.A. (economics) from the College of William and Mary in 1979, a M.A. (economics) from Johns Hopkins University in 1981 and a Ph.D.(economics) from Johns Hopkins University in 1983.

Ms. Macauley's research interests include space economics and policy, the economics of new technologies, recycling and solid waste management, urban transportation policy, and the use of economic incentives in environmental regulation. She also directs Resources for the Future's (RFF) academic programs, which include the RFF's Seminar Series and fellowship and internship programs.

Ms. Macauley has served on numerous special committees of the National Academy of Sciences and the National Aeronautics and Space Administration. She is past president and current member of the Board of Advisors for the Thomas Jefferson Program in Public Policy at the College of William and Mary. Ms. Macauley has testified extensively before Congress and is the author of more than 80 articles, reports, and books.