Major emphasis is placed on the phase behavior of miscible polymer blends. To understand the complex phase behavior of blends, a refined version of an equation-of-state theory is discussed. This theory makes the simultaneous occurrence of upper critical solution temperature and lower critical solution temperature in blends of high molar mass polymers conceivable. The kinetics of isothermal phase dissolution as it emanates from different experimental routes is discussed in terms of CahN′s linearized theory of phase separation. The rate of phase dissolution varies as a function of quench depth, which indicates the rate is directed by both the thermodynamic driving force and the mobility.