Transcription of handwritten draft of examination questions prepared by Jacob Viner.
Ph.D. Examination in Economic Theory
Spring, 1928 Viner[added and circled]
Answer questions 1 to 4, inclusive, and four others.
- Discuss the scope and method of the English classical school in the light of modern criticism therof.
- Explain, and discuss the validity, purpose, and usefulness of any three of the following Marshallian concepts:
(a) quasi-rent;
(b) consumers’ surplus;
(c) unit elasticity;
(d) maximum satisfaction;
(e) representative concern. - Describe the cost and supply aspects of the long-run equilibrium conditions under competition for two joint-products, when the proportions in which the two products are produced are: (a) non-variable, (b) variable.
- Discuss the contributions to economics of any five of the following:(a) Aristotle; (b) Cantillon ; (c) David Hume; (d) Cournot; (e) Senior; (f) J. B. Say; (g) Von Thunen; (h) Leon Walras.
- What is the significance of margins in price theory.
- “The price-processes of the market-place are a product of the institutional framework, and cannot be explained independently of the long evolution of the institutional framework of modern economic society which has molded them” Discuss.
- In what respects did the Canonists carry economic inquiry beyond its previous status?
- Discuss the problem of the relationship of the rate of physical productivity of capital goods to the rate of interest; or
Discuss the supply curve of saving. - Compare the wage theories of Adam Smith, Ricardo, and John Stuart Mill.
- Outline a research project for either:
(a) The statistical verification of an important proposition in price theory, or
(b) A statistical study in some phase of distribution theory.
Source: University of Chicago. Department of Economics. Records, [Box 35, Folder 14], Special Collections Research Center, University of Chicago Library.
Image: University of Chicago Photographic Archive, [apf1-08489], Special Collections Research Center, University of Chicago Library.
