Month: April 2017

Categories
Cornell Exam Questions Statistics

Cornell. Final Examination for Economic Statistics. Willcox, 1921

 

 

While I was unable to retrieve very much at all at the Library of Congress relevant to Walter F. Willcox’s teaching at Cornell, I did come across the following final examination in economic statistics from 1921. As can be seen from the questions, “statistics” was limited to meaning the tables of economic data compiled and published, especially by government agencies. 

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Course Announcement

[Economics] 76b. Second term. Credit three hours. Prerequisite, course 51 [Elementary Economics]. Professor Willcox.

 

Source: Cornell University Official Publication, Vol. XII, No. 17 (1921), The Register 1920-21, p. 93.

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Economic Statistics 76b

Final Examination June 7, 1921.
(Answer any ten questions)

  1. Describe the nature and scope (a) of economic statistics, (b) of business statistics. Explain the differences between them.
  2. What are the main economic uses of water as a natural resource in the United States?
  3. Describe briefly the coal resources of the United States in comparison with those of other countries.
  4. What effects have been produced on the distribution and growth of population by the location of the world’s coal fields?
  5. Explain the discrepancy between the statistical results reached by the Department of Agriculture and the Bureau of the Census. Which set of figures is preferable? Why?
  6. How is the line drawn between (a) agricultural products and manufactured products? (b) mineral products and manufactured products? Why is it drawn in that place?
  7. Is the yield of agricultural products per acre in the United States increasing or decreasing? Give the evidence in support of your reply.
  8. How are manufactured products classified? Why is their classification a matter of importance?
  9. How are hand trades and their products distinguished from manufactured products? how are the former treated at a census? Why?
  10. What are the main sources of information regarding American wage statistics? How may the apparent discrepancy in their results for the period 1890-1900 be reconciled.
  11. How is the wealth of a country or state estimated? If you were asked to estimate the wealth of New York State what method would you follow? Why?
  12. Describe the general nature of German university statistics. Sketch the history of its development.

 

Source: Library of Congress, Manuscript Division. The Papers of Walter Willcox, Box 39, Folder “Introduction to Social Philosophy”.

Image Source: Cornell North Campus from a photomechanical print from 1903 in the Library of Congress Prints and Photographs Division.

 

Categories
Cornell Economists Statistics

Cornell. Life of Walter F. Willcox, economic statistician

 

Following up the previous posting about the department of political science at Cornell University in 1900, now I add two items of interest relating to the professor of economic statistics at that time, Walter F. Willcox, who lived to the ripe old age of 103(!). At the tender age of 93 Willcox was asked to read a short statement about his personal creed for a radio show hosted by the legendary Edward R. Murrow. That statement is included below, followed by the Cornell’s Faculty Memorial Statement issued after his death in 1964.

Available on line is an excerpt from the article “Walter F. Willcox: Statist” from The American Statistician (February, 1961).

 

Research Hint: From Anderson through Zellner, over 70 short biographies at the American Statistical Association website’s “Statisticians in History” webpage.

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This I Believe
Walter F. Willcox

In his 93rd year, i.e. most likely in 1956, Walter F. Willcox read the following statement in the “This I Believe” radio program hosted by Edward R. Murrow.

I have been asked to state what I believe, or in other words, my creed. It consists mainly of selections from the writings of others woven into a loose fabric on which I have come to stand. Seventy years ago, a college teacher told us “a man’s creed is a monument set up to show where he stopped thinking.” He might have gone on to add: you are supposed to be scholars and a scholar never stops thinking, so you can set up no such a monument as a destination, but only as a temporary camp carrying, perhaps, a date to show when you tarried a while at that point.

I believe that each person is born into what seems to him a chaos and given his share in mankind’s task of transforming that chaos into a cosmos. I believe that modern science is beginning to reveal the skeleton of the cosmos but that emotion and action are needed to give it flesh and life. I believe that the aim of all life is “life more abundant,” that life on this planet has steadily become richer, and that in this tiny corner of the cosmos and this bit of unending time there has been irregular progress towards a more abundant life.

I believe with John Dewey, that “Humanity cherishes ideals which are neither rootless nor completely embodied in existence,” and that these cherished ideals form the basis for man’s conception of a God. I believe with Goldwin Smith, that “Above all nations is humanity.” I believe that man receives, through heredity and environment, influences which his own efforts modify, and passes them on to uncounted future generations. Or, as Browning words it, “All that is at all/ lasts ever past recall/ Earth changes/ but thy soul and God stand sure/ What entered into thee/ that was, is, and shall be/ time’s wheel runs back or stops/ Potter and clay endure.”

I believe that human freedom to experiment and to initiate is the most potent of all the forces working for the progress of mankind. I believe that the spread of human freedom and the resultant decrease of fear, at least until 1914, form the best evidence of man’s advance in civilization. I believe with Becker, that “All values are inseparable from the love of truth and the search for it,” and that truth can be discovered only if the mind is free; and with Justice Holmes, that “Truth is best discovered and defended in the marketplace of ideas.”

I believe with Johnson, that “A man should keep his friendships in constant repair.” I believe with Becker, that “Knowledge and the power it gives should be used for the relief of man’s estate,” and that the best form of government yet devised is one which seeks to be “a government of the people, by the people, for the people.” I believe with Sherrington, that “We have, because human, an inalienable prerogative of responsibility which we cannot devolve, as once was thought even upon the stars. We can share it only with each other.”

Source: The actual recording of Walter F. Willcox reading his statement can also be found at the website: “This I Believe: A public dialogue about belief—one essay at a time.”.

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Cornell University Faculty Memorial Statement
Walter Francis Willcox
March 22, 1861 — October 30, 1964

Walter Francis Willcox died at his home, after a brief illness, October 30, 1964. On March 22 he had celebrated his one hundred and third birthday. At the time of his death he was the oldest living alumnus of Phillips Andover Academy, of Amherst College, from which he received degrees of A.B., A.M. and LL.D., and (it was believed) of Columbia University, from which he received the LL.B. and Ph.D. He was also the oldest Professor Emeritus of Cornell and the only one known to have a son also a Professor Emeritus of the same institution.

Born in Reading, Massachusetts, in 1861, he was the son of a Congregational clergyman. Both his mother and father hoped that he, too, would enter the ministry but, after a passing interest in Greek, he turned instead to philosophy. Even before completing his graduate work, however, he found his attention drawn to those human and social problems that were to be his principal concern for the rest of his life. Although he came to Cornell in 1891 on a temporary appointment as an instructor of philosophy, the following year he accepted a position in the Department of Economics, rapidly making statistics his special field and himself a recognized authority and important innovator in that subject.

In 1899 he was asked to serve as chief statistician of the Twelfth Census of the United States, a post that took him to Washington until 1901. Part of his assignment consisted in preparing the new apportionment tables for the Congress; this brought to his attention the alarming rate at which the House had been growing as new seats were added to provide representation for the country’s expanding population, and the unsound method by which seats were apportioned. The House, he felt, could never realize its potentialities as a constructive political institution unless it were reduced to a manageable size—he considered three hundred the optimum number; but he also recognized the virtually insuperable obstacles in the way of any revision that would require incumbent representatives to vote some of their own seats out of existence. He did think, however, that it should be feasible to stem the previously unchecked growth of the body by a law fixing its existing size and providing for automatic reapportionment following each census. He even hoped that this technique might be used to reduce the size of the House by ten seats with each successive census. That proved too Utopian but in 1931, after a very long campaign, Congress finally did fix the size of the House at its existing 435 seats and also provided for regular reapportionment according to a plan Dr. Willcox himself had derived from the principle of “major fractions” originally formulated by Daniel Webster. Walter Willcox’ contribution to this achievement received unprecedented tribute from Senator Arthur Vandenberg, the sponsor of the bill, in a letter to Cornell President Jacob Gould Schurman. Some of Dr. Willcox’ personal satisfaction in this accomplishment was diminished, however, when a group of Harvard mathematicians persuaded Congress to adopt a rival statistical formula for reapportionment. Never convinced of the validity of the “Harvard method,” he continued throughout the remainder of his life to perfect and advocate his own system, and to urge to apparently hopeless cause of reducing the size of the House. His last appearance before a Senate judiciary subcommittee hearing on this subject was in 1959 when he was ninety-eight.

The role Walter Willcox played in national and international organizations can only suggest the nature and extent of his influence in the developing field of statistics. In 1892 he joined the American Statistical Association, becoming its president in 1912 and a fellow in 1917. In addition, he was instrumental in bringing the United States into effective membership in the International Statistical Institute, which he himself had joined in 1899. He served as the United States delegate to its session in Berlin in 1903, and to most of its subsequent biennial meetings in various capitals throughout the world until his final appearance at Paris in 1961. Having been a vice president of the Institute since 1923, he took the lead in reviving it after World War II, and served as its president at the first post war meeting, held in Washington, D.C., in 1947. From that time until his death he held the title of honorary president. In addition, he was a fellow of the Royal Statistical Society and an honorary member of the Statistical Society of Hungary, the Czechoslovakian Statistical Society, and the Mexican Society for Geography and Statistics. He served as a member or adviser of innumerable statistical commissions and boards, the Census Advisory Commission, the New York State Board of Health, the International Congress of Hygiene and Demography (1912), and the World Statistical Congress.

Although each of his four books—The Divorce Problem, A Study in Statistics, 1897, Supplementary Analysis and Derivative Tables, Twelfth Census, 1906; Introduction to the Vital Statistics of the United States 1900-1930, 1933; and Studies in American Demography, 1940—made a significant contribution, it was through his innumerable articles, letters to the editor, and personal written and oral communications that he exerted his surprising influence, not only in the fields of statistics and economics but in the general affairs of the nation. If his attention was habitually attracted by the “facts,” he had an extraordinary instinct for the right facts and great persistence in calling them and the problems and injustices they represented to the attention of his fellow citizens. Characteristically he was one of the very first to study the economic and social conditions of our Negro citizens; and it has been widely recognized that the recent Supreme Court decision establishing the principle of equal representation in state as well as national government reflects his efforts and influence. Both the problems of world government and the United Nations and the affairs of Ithaca and New York State were for him serious preoccupations. When on the occasion of his one hundredth birthday he was asked to comment on his life, he astonished his audience by saying, “If I were to start all over again I think I would go into politics. I don’t think I would have been so successful at that profession, but I would have enjoyed it more.”

In spite of his extensive professional interests and accomplishments and wide travels, the focus of his life, at least next to his family, was surely the University. Having come early enough to know most of the great personalities in Cornell’s early history and notably, all of its presidents from Andrew D. White to James A. Perkins, he had an insatiable interest in anything that pertained to the history, growth, or welfare of Cornell. From 1902-1907 he was Dean of the Faculty of Arts and Sciences, from 1916 to 1920 faculty representative on the Board of Trustees, and from 1931 Professor Emeritus.

An inveterate attender of faculty meetings, he also sought and made informal occasions for faculty discussion. He took a major part in reviving the Faculty Club after World War II, serving as its first president and making a substantial donation to its library. It was in one of the club’s small dining rooms, most fittingly named the Willcox Room, that he met regularly twice a week with luncheon groups. He himself had founded one of these groups nearly forty years ago, and modeled it after a “round table” which he had been invited to attend at the Library of Congress during his stay in Washington at the turn of the century. Although he always referred to it as the Becker luncheon group because, as he explained, he had begun it to serve as an occasion for Carl Becker’s conversation, it has long since been known to others as the Willcox group. Its members have included many of Cornell’s most distinguished citizens from Carl Becker to Liberty Hyde Bailey, Dexter Kimball, and Miss Francis Perkins, to mention a very few. We all, guests and new members, came to appreciate the unobtrusive skill with which the quiet figure of Walter Willcox drew out and directed the conversation.

Walter Willcox was throughout his long life not merely a distinguished economist and citizen; he was a model of a nineteenth-century gentleman and scholar concerned with the fate of his fellow man. He managed the rare feat of keeping his interest up to date without relinquishing his hold on his original values. As nearly as any one man could, he seemed to embody the ideal around which Ezra Cornell and Andrew White had established the University.

Mario Einaudi, Felix Reichmann, Edward W. Fox

 

Source: Cornell University eCommons. Cornell University Faculty Memorial Statement.

Image Source: Cornellian 1919, p. 128.

Categories
Cornell Research Tip

Cornell. Economics in the Department of Political Science, 1900

 

 

Soon I’ll get back to the necessary work of transcribing exams to match remaining courses already entered into Economics in the Rear-View Mirror. While my core three departments (Harvard, Columbia and Chicago) constitute the source of the vast majority of the artifacts gathered thus far, regular visitors will have also noticed an occasional foray into other departments as have struck my fancy.

The next few postings are the result of my recent visit to the Library of Congress where I looked into the papers of the economic statistician Walter F. Willcox of Cornell. Following up, I checked out the digital repository of Cornell, eCommons that I can most highly recommend both to researchers (for historical material) as well as to university archivists (for its structure and user-friendliness).

Among other things I found (and immediately transcribed) the following “snap-shot” of Cornell’s department of political science in 1900 that was made up of three professors who were working on economic theory, policy and statistics. Modern eyes see there an economics department with an interdisciplinary social-scientific scope, not unsimilar to the early School of Political Science at Columbia.

Research Tip: The Cornell Register is an official Cornell University publication containing a record of the personnel and organization for the academic year.  PDF copies for 1882-1883 through 1931-32 at the digital repository of Cornell. Page views going back to 1869 from the hathitrust.org collection.

 

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DEPARTMENT OF POLITICAL SCIENCE

The Development of the Work—
What is being Accomplished Today.

Political Science has always been considered important at Cornell. President White, in his inaugural address, laid down the principle that “There are two permeating ideas which must enter into the work of the University in all its parts. The first is the need of labor and sacrifice in developing the individual man in all his nature and in all his powers as a being intellectual, moral, and religious. The second of these permeating ideas is that of bringing the powers thus developed to bear upon society. We should provide ample instruction in history, in political and social science and in the modern literature….We would give ample opportunity for those classes of study which give breadth to the mind, and which directly fit the student for dealing with state problems and world problems. In this view, historical studies and studies in political and social science will hold an honored place; but these studies will not be pursued in the interest of any party. On points where honest and earnest men differ, I trust we may have courses of lectures presenting both sides.”

Instruction in this line consisted at first of a course of lectures in Political Economy given during one term of each year by Dr. William D. Wilson, professor of moral and intellectual philosophy. A few years later, Theodore Dwight began a series of lectures on constitutional law, and in 1875 this course was superseded by a series of lectures on the constitution of the United States and American jurisprudence.

The department was formally organized in 1881, when a four years’ course in History and Political Science was established. Graduates from this course received the degree of Bachelor of Philosophy in History and Political Science. Courses in systematic politics, public finance, and practical economic questions were added to the curriculum year by year, and in 1887 the departments of History were organized into the President White School of History and Political Science, and a fellowship in political and social science was established. While Professor Laughlin was in charge of the work in economics, in 1890, two fellowships in that field were founded.

In 1891, Professor Jeremiah W, Jenks was called to a chair of municipal, political, and social institutions. The next year, the departments of economics and finance and of political and social institutions were brought under one head. Professors Walter F. Willcox and Charles H. Hull were appointed, with Professor Jenks, to take charge of the work, which is being carried on as a unit, in so far as this is practicable.

Each professor, with his assistants, has charge of some special branch of the work. Professor Jenks gives his time chiefly to the work in politics, political science, and economic legislation; Professor Willcox to social science and statistics; and Professor Hull to political economy and finance. The assistants, Mr. Brooks and Mr. Weston, divide their time between advanced work in economic history and municipal government and the text-book work with the classes beginning the study of economics. In all branches the aim is to make the work of direct, practical value, while not neglecting economic and political theories. Andrew D. White’s idea of presenting both sides of questions is carried out as far as possible. The political questions of the day are treated fully, and students are taught to think impartially and independently. For the last two years the department has invited the most eminent men in business and politics to give lectures before the University. John W. Foster, ex-Secretary of State, has lectured on “Diplomacy;” Charlton T. Lewis, counsel for the Mutual Life Insurance Company, on “Insurance;” W. H. Baldwin, Jr., president of the Long Island Railroad, on “Railroad Management;” and Edward Rosewater, editor of the Omaha Bee, on “Journalism.” A course of lectures on the work of the State departments by prominent State officials has been provided for this year. The object of these lectures is to give the students more accurately the point of the business man and the politician.

The work the professors are doing outside of the department shows that the practical nature of their work is widely recognized. Professor Jenks is now the expert agent of the United States Industrial Commission in their investigation of trusts and monopolies undertaken with the view of recommending legislation on the subject to Congress and the several states. He has had special charge of selecting and examining the witnesses for and against the trusts and of editing the testimony. In this connection, he has collected in one volume the laws of the United States and the different states which concert trusts, with a digest of all the decisions under these statues and leading common law decisions concerning trusts. A second volume will contain the testimony and the economic results of the study. He has, further, been assigned by the Commission the task of investigating the trusts of Europe during the coming summer. This investigation has also led Governor Roosevelt to call him into consultation several times this winter to aid in the preparation of his message and in proposing measures for state legislation concerning trusts and corporations.

The administration wished the national census department to come closely into touch with the universities of the country, and therefore appointed Professor Willcox one of the Chief Statisticians of the census. He is investigating “methods and results” and is planning the methods of taking the census and interpreting the results—the work which, more than any other, calls for breadth of statistical knowledge and soundness of judgment. To him has also been given the task, together with one of his colleagues on the Census, Mr. Gannett, of interpreting and writing up the results of our first Colonial Census, the one lately taken in Porto Rico and Cuba. His interest and experience in practical social questions is shown by his acting for years as a member of the local Board of Health, and by Governor Roosevelt’s appointing him a year ago a member of the State Board of Health. While Professor Willcox is in Washington, his work is ably carried on by Professor Powers, formerly of Leland Stanford University.

Professor Hull has just published one of the most scholarly books produced in this field for a long time. This book, a collection of the works of Sir William Petty, with an introduction and critical annotations, has been very favorably reviewed in all the principle countries of Europe. Beside his accurate scholarship and his remarkable critical acumen, Professor Hull is well known also for his sound judgment and business sense. These qualities have been long recognized by his colleagues in the faculty, of which he is Secretary. Upon earnest solicitation he has acted as President of the Cornell Coöperative Society from the beginning and is perhaps chiefly responsible for its success. For some years he has been Treasurer of the American Economic Association, and at its last meeting that body insisted on making him its Secretary also, thus putting practically all of its business—publishing included—into his hands. The joint committee of the Legislature on taxation submitted to him lately for criticism its new plan of taxation.

The department has been greatly aided in its work by having at its disposal excellent laboratory and library facilities. It has perhaps the best material in reports, apparatus, etc., for work in statistics possessed by any university in the country. It is unusually well equipped in periodical literature and rare books on the history of economics. The library of foreign statues is also large and growing rapidly.

The Seminary, for graduate students only, is carried on jointly by the three professors in the department. Each professor takes special charge of the work of those men whose theses are in his special field, and of the Seminary on days when reports on these theses are in order. Besides the regular thesis work, the Seminary usually has on hand some special subject. This year Colonial governments have been studied, the relations of our government to its dependencies is being considered, in the light of our own history, legal and political, and in that of the leading colonial powers.

The most prominent characteristic of the department throughout is that it has always tried to keep closely in touch with practical work in politics, in government, and in business, in order to prepare its students especially for practical work in life. This does not involve neglect of theory or neglect study of principles; but it does involve the effort to apply these principles to the solution of practical problems; while the experience of teachers in aiding our public men to solve non-partisan questions enables them to judge more soundly regarding what is really practical.

 

Source: Cornell Alumni News, Vol. II, No. 22 (March 7, 1900), pp. 143-144.

Image: (left to right) Jeremiah W. Jenks, Walter F. Willcox and Charles H. Hull taken from ibid.

Categories
Exam Questions Harvard

Harvard. Carver’s Economics of Agriculture Final Examination, 1918

 

 

Enrollment data and the course outline with reading assignments for Thomas Nixon Carver’s one-semester course “Economics of Agriculture” have been previously posted. We can add to this now the course description that comes from the History, Government and Economic Division’s 1917 announcements and also the final examination for the course from 1917-18.

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Course Announcement and Description

Economics 9 1hf. Economics of Agriculture. Half-course (first half-year.)
Mon., We., and (at the pleasure of the instructor) Fri., at 10.
Professor Carver, assisted by Mr.—.

A study of the relation of agriculture to the whole industrial system, the conditions of rural life, the forms of land tenure, the comparative merits of large and small holdings, the status and wages of farm labor, the influence of farm machinery, farmers’ organizations, the marketing and distribution of farm products, agricultural credit, the policy of the government toward agriculture, and the probably future of American agriculture.

 

Source: Division of History, Government, and Economics 1917-18 published in Official Register of Harvard University, Vol. XIV, No. 25 (May 18, 1917), p. 62.

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Final Examination
Economics of Agriculture
Professor Thomas Nixon Carver

1917-18
HARVARD UNIVERSITY

ECONOMICS 91

 

  1. Describe some of the principal contrasts between rural and urban industry.
  2. What were the advantages of the three-field over the two-field system?
  3. What were the main features of the Homestead Act?
  4. Give a brief account of the rise of the Granger movement.
  5. Under what circumstances is it desirable to turn from extensive to intensive cultivation?
  6. What are the advantages of selling on grade rather than on inspection?
  7. What is meant by a standardized security as a basis for rural credit, what are its advantages, and how is it provided for under our Federal farm loan system?
  8. What are some of the social needs of the average rural community?
  9. What are the principal areas of production in the United States of the following crops: Spring wheat, winter wheat, potatoes, wool, beet sugar, cane sugar, peanuts?
  10. Is tenancy increasing or decreasing in the United States as a whole? Where is it increasing most rapidly and what are the principal reasons for its increase?

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 60 of 284). Faculty of Arts and Sciences, Papers Set for Final Examinations: History, History of Religions, … , Economics, … , Fine Arts, Music, June, 1918.

Image Source: Thomas Nixon Carver, Harvard Class Album 1920.

 

 

Categories
Exam Questions Harvard

Harvard. Intro to Mathematical Economics Final Exam, Schumpeter 1935

 

The Harvard course “Introduction to the Mathematical Treatment of Economic Theory” (Economics 8a from 1934-35 to 1935-36 then renumbered as Economics 4a thereon through 1940-41) was taught by Wassily Leontief except for its very first year when Joseph Schumpeter was responsible for the course. The original handwritten draft of the final examination for February 4, 1935 can be found in Schumpeter’s papers (though filed along with papers for the other course he taught, Economics 11). The official typed draft of the exam (identical except for a line-break) is transcribed below along with information about the course enrollment and prerequisites.

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Course Announcement

Economics 8a 1hf. Introduction to the Mathematical Treatment of Economic Theory

Half-course (first half-year). Mon., 4 to 6, and a third hour (at the pleasure of the instructor). Professor Schumpeter.

Economics A and Mathematics A, or their equivalents, are prerequisites for this course.

 

Source: Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1934-35 (Second Edition) published in Official Register of Harvard University, Vol. XXXI, No. 38 (September 20, 1934), p. 126.

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Course Enrollment

[Economics] 8a 1hf. Professor Schumpeter and other members of the Department.—Introduction to the Mathematical Treatment of Economic Theory.

Total 23: 15 Graduates, 3 Seniors, 5 Instructors.

 

Source: Harvard University. Report of the President of Harvard College 1933-34, p. 85.

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Final Examination
Introduction to the Mathematical Treatment of Economic Theory
Joseph A. Schumpeter

1934-35
HARVARD UNIVERSITY

ECONOMICS 8a1

Answer at least THREE of the following questions:

  1. Define elasticity of demand, and deduce that demand function, which corresponds to a constant coefficient of elasticity.
  2. Let D be quantity demanded, p price, and D = a – bp the demand function. Assume there are no costs of production. Then the price p0 which will maximize monopoly-revenue is equal to one half of that price p1, at which D would vanish. Prove.
  3. A product P is being produced by two factors of production L and C. The production-function is P = bLkC1-k , b and k being constants. Calculate the marginal degrees of productivity of L and C, and show that remuneration of factors according to the marginal productivity principle will in this case just exhaust the product.
  4. In perfect competition equilibrium price is equal to marginal costs. Prove this proposition and work it out for the special case of the total cost function
    y = a + bx, y being total cost, x quantity produced, and a and b
  5. If y be the satisfaction which a person derives from an income x, and if we assume (following Bernoulli) that the increase of satisfaction which he derives from an addition of one per cent to his income, is the same whatever the amount of the income, we have dy/dx = constant/x. Find y.
    Should an income tax be proportional to income, or progressive or regressive, if Bernoulli’s hypothesis is assumed to be correct, and if the tax is to inflict equal sacrifice on everyone?

 

Final. 1935.

 

[Handwritten note at the bottom of this carbon-copy of the exam questions: “This leads me to believe that the course is advantageous only if the man has had previous mathematical training at least equal to Mat A”]

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 15 of 284). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, January, 1948.

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 Schumpeter’s handwritten answer to question 2

[Note: Schumpeter’s draft of his questions for Economics 8a in 1934-35 were incorrectly filed in the Economics 11 course folder for the Fall semester of 1935. Perhaps he used the questions himself in the other course in the following semester.]

{{p}_{1}}=\frac{a}{b}
\frac{dp}{dD}=-\frac{1}{b}
\frac{d\,\,Dp}{dp}=D+p\frac{dD}{dp}=
=a-bp-bp=a-2bp
\therefore p=\frac{a}{2b}

 

Source: Harvard University Archives. Joseph Schumpeter Lecture Notes. Box 9, Folder “Ec 11 Fall 1935”.

Image Source: Joseph A. Schumpeter’s note at the end of his handwritten draft of the examination in Harvard University Archives. Joseph Schumpeter Lecture Notes. Box 9, Folder “Ec 11 Fall 1935”.

Categories
Exam Questions Harvard

Harvard. Monroe’s Final Exams for Intermediate Economic Theory, 1948

 

I try not to be judgmental as curator of the artifacts that I post, but I do have to say, even allowing for the fact that Arthur Eli Monroe was about to retire from Harvard, the examination questions he wrote down for his intermediate economic theory course offer very little to think about and much to regurgitate. The course outline and reading assignments have already been transcribed for Economics in the Rear-View Mirror.  

Not all artifacts here have been created equal.

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Final Examination
Economic Theory and Policy
Arthur Eli Monroe

1947-48
HARVARD UNIVERSITY

ECONOMICS 1a

Discuss FOUR topics.

  1. Individual demand curves.
  2. The cost curve of the firm.
  3. The supply curve of an industry.
  4. Oligopoly
  5. Adjustment to changes in demand.
  6. Selling cost.
  7. Freedom of entry.
  8. Some topic covered by the Reading Period assignment.

Final. January, 1948.

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 15 of 284). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, January, 1948.

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Final Examination
Economic Theory and Policy
Arthur Eli Monroe

1947-48
HARVARD UNIVERSITY

ECONOMICS 1a

Discuss FOUR topics.

  1. Versions of the marginal productivity theory.
  2. Keynes on the rate of interest.
  3. Böhm-Bawerk.
  4. Capital and the rate of wages.
  5. Rent.
  6. Monopoly and wages.
  7. The “going rate” of interest.
  8. Hicks on inventions.
  9. Profit.
  10. Gardiner C. Means.
  11. Sée on industrial capitalism.
  12. Investment and the level of employment.

Final. May, 1948.

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 15 of 284). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, May, 1948.

Image Source: Arthur Eli Monroe in Harvard Album, 1942.

Categories
Exam Questions Harvard

Harvard. Half-year exam for O.H. Taylor’s Economics and Political Ideas, 1949

 

I am now about half-way through the matching of recently copied exams in economics from the Harvard University archives to their corresponding courses. The syllabus and reading assignments for the first-term of the one year course “Economics and Political Ideas in Modern Times” taught by Dr. Overton Hume Taylor at Harvard in 1948-49 have been transcribed and posted earlier. Clearly the “modern times” part of the course was left for the second semester.

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Final Examination
Economics and Political Ideas in Modern Times
Dr. Overton Hume Taylor

1948-49
HARVARD UNIVERSITY

ECONOMICS 115

Write on five questions, including No. 8; and make one answer a one-hour essay, so marked in your blue-book.

  1. “There are two kinds of hostility to capitalism in our culture, having different historic sources and appealing to different motives, ideas, and arguments. Marx and his followers have appropriated and inflated one kind, resting merely on the desire to see capitalism itself surpassed by a system still better able to increase material wealth and diffuse it to all men. But the other, deeper and nobler as well as more ancient, anti-capitalist philosophy is not Marxian, but Platonic and Christian; and condemns capitalism not by economic criteria but on higher, spiritual and moral grounds.” Discuss.
  2. “Hobbes and the ‘mercantilist’ writers of his time spelled out and accepted the logical results of the pure spirit of capitalism—individual gain-seeking—which leads through competitive anarchy and strife to monopoly, oligarchy, despotism, and a forcibly state-controlled economy and society. In contrast, a modification of capitalism was already implicit in the basic assumption of Locke, and of Adam Smith and his followers, that each individual should practice a ‘natural’, moral self-restraint in deference to the rights of others and thus make liberty for all compatible with order and the common welfare.” Discuss.
  3. “The eighteenth century’s optimistic, metaphysical belief in an harmonious natural order inspired the founders of what later became ‘orthodox’ economic theory. Hence the latter became and remained an optimistic theory of the ‘natural’ working of the free-competition, market economy—identifying that system’s ‘equilibrium’ with a social-economic optimum. And this rosy theory has persisted, in some quarters to the present day, in defiance of growing, factual evidence.” Discuss.
  4. Without going into time-consuming details, give a comprehensive general account and discussion of (a) the main psychological, ethical, and political doctrines of Bentham and his followers; (b) the main economic doctrines of Ricardo and his followers; and (c) the main similarities or common elements, possible ‘debts’ to each other, and dissimilarities of the two ‘systems’ of thought.
  5. Describe and discuss either (a) the English and German ‘romantic’ or (b) August Comte’s ‘positivistic’ line of attack on the classical-liberal pattern of political-and-economic thought and its ‘eighteenth century intellectual foundations.’
  6. “J. S. Mill tried unsuccessfully to combine, and modify into mutual consistency, the groups of ideas he derived from Bentham and Ricardo, from the English Romanticists, from Comte, and from early socialism.” Discuss.
  7. “Intellectual Marxism is an incongruous mixture of two things which are poles apart — German metaphysics and English economics. The ‘inverted Hegelian’ philosophy of history, and the distorted Ricardian economic theory of labor-value, surplus value, and evolving capitalism, are separate, unrelated lines of thought on different levels. Yet the combination supports a very powerful, impressive explanation of the past and forecast of the future.” Discuss.
  8. On the basis of your ‘reading period’ reading in Schumpeter or Sweezy, give your own account and discussion of either (a) Schumpeter’s thesis about how capitalism is being destroyed by the social, cultural, and political results of its very merits; or (b) Sweezy’s thesis about the causes, nature, and significance of fascism.

 

Final. January, 1949.

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 16 of 284). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, February, 1949.

Image Source: Overton Hume Taylor in Harvard Album, 1952.

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Exam Questions Harvard

Harvard. Final exam in Monetary Theory and Policy. Harris, 1934

 

The outlines and reading assignments for both the Fall and Spring terms of Seymour Harris’ undergraduate course “Money, Banking, and Cycles” have been transcribed for the academic year 1933-34. The final exam for the first term devoted to monetary theory and monetary policy has been posted separately..

 

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Final Examination
Money, Banking, and Cycles
Seymour Harris

1933-34
HARVARD UNIVERSITY

ECONOMICS 3

Answer 1, 2, and THREE other questions.

  1. (One hour.) Contrast Keynes’ recent views on the value of money with his earlier views.
  2. Answer one of the following questions:
    1. What, in Akerman’s views, are the possibilities of averting economic crises? What are the most effective methods of doing so?
    2. Discuss the important issues raised by the restrictions of payments in Great Britain during the Napoleonic Wars.
    3. Describe the attempts made in the last quarter of the nineteenth century to redress the Crime of 1873.
    4. What features of the early banking history of the United States contribute towards and explanation of the National Banking Act?
  3. Do movements in exchanges determine prices, or do prices determine the exchanges? Discuss and illustrate.
  4. What is the meaning of the purchasing power of money as used by three monetary theorists?
  5. “The severity of the World Depression may be attributed to the faulty working of the Gold Standard.” Discuss.
  6. Are monetary measures adequate to cope with a major business depression?

Final. 1934.

 

Source: Harvard University Archives. Harvard University. Examination Papers, Finals (HUC 7000.28, 76 of 284), [June?] 1934.

Image Source: Seymour Harris from Harvard Class Album, 1935.

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Exam Questions Harvard

Harvard. Final Exam Questions for Second Term of Honors Theory, 1940

 

This is one of those cases where one sorely misses the final examination for the first-term of a two-term course. Next time I go to the Harvard archives, I’ll have to check whether I have systematically overlooked the mid-year exams, or the keepers of the Harvard record merely limited themselves to mostly just collecting the exams administered at the end of each academic year. Maybe some visitor to Economics in the Rear-View Mirror happens to check this and let us all know by posting a welcome comment.

Anyhow, this posting continues the current series of exams that correspond to syllabi and course reading lists already transcribed since I have set up shop (not quite two years ago). The 1939-40 undergraduate honors course in economic theory at Harvard was taught by the team of Edward Chamberlin, Wassily Leontief and Overton Taylor.

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Final Examination
Economic Theory (Honors degree candidates)
Professor Chamberlin, Dr. O. H. Taylor, and Associate Professor Leontief

1939-40
HARVARD UNIVERSITY

ECONOMICS 1

Answer SIX questions, including number 7 or 8.

  1. Explain the concept of the “period of production” in its connection with the theory of interest.
  2. Is the marginal productivity theory applicable to piece wages? Answer and discuss.
  3. Explain the relation between the wage rates and marginal physical productivity in the case in which the entrepreneur sells his product in a competitive market but at the same time holds the position of a monopolist on the labor market.
  4. Discuss the effect of increased interest rates upon the employment of labor as compared with the use of machines.
  5. How would the height of rent be determined if all land were of the same quality?
  6. “Pigou has tried in vain to build a useful ‘economics of welfare’ on the false assumptions, that society is a collection of (a) purely selfish and (b) perfectly rational individuals, who infallibly maximize their private gains and satisfactions; and that such a society can, nevertheless, develop a regime of institutions, laws, and policies under which there will be a complete agreement of all private interests with the public interest, and an economic process working automatically to maximize collective welfare.” Discuss the validity of that interpretation and condemnation of Pigou’s assumptions, and the problem, as you see it, of achieving ‘realism’ in the basic ideas of a theory of ‘welfare economics’.
  7. Explain, and discuss critically one of the following: (a) Knight’s thesis concerning the ‘limitations of scientific method in economics’; (b) Wolfe’s demand for a ‘functional welfare economics, using a generally accepted, psychologically grounded, norm of welfare’; or (c) Clark’s ‘experiments in non-Euclidean economics’.
  8. “Profits are a special type of differential income”. Discuss.

 

Final. 1940.

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 5). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, June 1940.

Image Source: From left to right: Chamberlin, Leontief, Taylor from the Harvard Class Album, 1939.

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Exam Questions Harvard

Harvard. O.H. Taylor’s Final Exam for Intellectual Background of Economic Thought, 1941

 

 

For today’s posting I have transcribed the questions from the final examination along with the course description for the one-semester undergraduate course taught by Overland Hume Taylor at Harvard during the Spring term of 1940-41. The course syllabus and reading assignments  for “The Intellectual Background of Economic Thought” were posted in Economics in the Rear-View Mirror earlier.

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Course Description

Economics 1b 2hf. The Intellectual Background of Economic Thought. Half-course (second half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 11. Dr. O. H. Taylor.

A critical study of the kinds of work in economics represented by the main tradition and by Marx, Veblen, and others—with attention to their methodologies, associated political faiths or ideologies, and underlying philosophies.

Source: Official Register of Harvard University, Vol. XXXVII, No. 51 (August 15, 1940). Division of History, Government, and Economics—Containing an Announcement for 1940-41, p. 54.

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Final Examination
The Intellectual Background of Economic Thought
Dr. Overton Hume Taylor

1940-41
HARVARD UNIVERSITY

ECONOMICS 1b2

Answer six questions, including any three of the first four, any two of the next three (5, 6, and 7) and No. 8. Devote approximately ½ hour to each question.

  1. “The original founders of economic liberalism could believe that economic liberty and economic ‘natural laws’ would tend to maximize the economic welfare of society, because they believed that enlightened, free men would create a society in which, substantially, all institutions, public policies, and private conduct would conform to principle of ethical ‘natural law’ or intrinsic justice.”
    Explain and discuss the outlook referred to in that statement—making use, in your discussion, of the results of your reading of O. H. Taylor, Sabine, and Becker, and your own conclusions.
  2. “The intellectual trend in the liberal world into positivism, or science-worship, has been enfeebling and confusing the ethical convictions at the basis of liberalism, and transforming the latter from its old self into a half-way house on the way either to socialism or to fascism—in any case, a program of authoritarian ‘social engineering’ which attempts to use the social sciences in a way that involves the sacrifice of liberal, ethical ideals.”
    Write out your own reactions to this thesis, advanced in the lectures. Your instructor will definitely value intelligent, adverse criticism quite as highly as comment showing full agreement.
  3. In the light of the lectures and your reading of Spann and other relevant assignments, discuss the nature of romanticism, and the question of its role in the development of German economic and political thought of the kind leading (?) to the outlook of the Nazis.
  4. “While the basis of Marxism includes a vigorous, ethical idealism, the influence of this component in the outlook of the Marxists is largely nullified by the contrary effects of their doctrines of historical, economic determinism; of the complete ‘relativity’ of all ethical ideas to the economic situations and interests of their adherents; and of the necessity and legitimacy of Machiavellian tactics in the struggle to achieve socialism.”
    Develop your own comments on this, with the aid of your reading of “The Meaning of Marx” by S. Hook and others, and of any other knowledge you may have about Marxism.
  5. Discuss and compare the chief hindrances to realization of liberal-democratic ideals which exist today under private capitalism, and those which you think would or might exist if we had “socialized” all important means of production and were trying to operate a fully socialist economy.
  6. Develop your comments on the chapter or essay which interested you the most, either in Brinton’s “English Political Thought in the Nineteenth Century,” or in “The Trend of Economics” by Tugwell and others.
  7. Write up your criticism of the Simons pamphlet “A Positive Program for Laissez Faire.”
  8. Write a critical review of Robbins’ “The Nature and Significance of Economic Science”—or of the essays by F. H. Knight which you read, if you read them instead of Robbins.

Final. 1941.

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001 (HUC 7000.28, Box 5). Faculty of Arts and Sciences, Papers Printed for Final Examinations: History, History of Religions, … , Economics, … , Military Science, Naval Science, June 1941.

Image Source: Overton Hume Taylor in Harvard Album, 1952.