We conjecture a precise relationship between the Schur limit of the
superconformal index of four-dimensional N=2 field theories, which
counts local operators, and the spectrum of BPS particles on the Coulomb
branch. We verify this conjecture for the special case of free field theories,
N=2 QED, and SU(2) gauge theory coupled to fundamental matter.
Assuming the validity of our proposal, we compute the Schur index of all
Argyres-Douglas theories. Our answers match expectations from the connection of
Schur operators with two-dimensional chiral algebras. Based on our results we
propose that the chiral algebra of the generalized Argyres-Douglas theory
(Ak−1,AN−1) with k and N coprime, is the vacuum sector of the
(k,k+N)Wk minimal model, and that the Schur index is the associated
vacuum character.Comment: 46 pages, 12 figures. v2: revisions to section 1, references adde