Abstract
The theory of waves and instabilities in a differentially rotating disc containing a poloidal magnetic field is developed within the framework of ideal magnetohydrodynamics. A continuous spectrum, for which the eigenfunctions are localized on individual magnetic surfaces, is identified but is found not to contain any instabilities associated with differential rotation. The normal modes of a weakly magnetized thin disc are studied by extending the asymptotic methods used previously to describe the equilibria. Waves propagate radially in the disc according to a dispersion relation which is determined by solving an eigenvalue problem at each radius. The dispersion relation for a hydrodynamic disc is re-examined and the modes are classified according to their behaviour in the limit of large wavenumber. The addition of a magnetic field introduces new, potentially unstable, modes and also breaks up the dispersion diagram by causing avoided crossings. The stability boundary to the magnetorotational instability in the parameter space of polytropic equilibria is located by solving directly for marginally stable equilibria. For a given vertical magnetic field in the disc, bending of the field lines has a stabilizing effect and it is shown that stable equilibria exist which are capable of launching a predominantly centrifugally driven wind.

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