Business Cycles and Economic Forecasting was a two semester graduate course offered in 1948-49. The fall term (Economics 245a) was taught by Joseph Schumpeter and the spring term (Economics 245b) was jointly taught by Assistant Professor Richard Goodwin and Professor Gottfried Haberler.
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[From the Course Catalogue]
Economics 245b (formerly Economics 145a). Business Cycles and Economic Forecasting
Half-course (spring term). Mon., Wed., and (at the pleasure of the instructor) Fri., at 9. Professor Haberler and Assistant Professor Goodwin.
Source: Harvard University. Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year 1948-49, p. 79.
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[Course enrollment]
[Economics] 245b (formerly Economics 145b). Business Cycles and Economic Forecasting (Sp).
Professor Haberler and Assistant Professor Goodwin.
16 Graduates, 2 Radcliffe, 1 M.I.T., 4 Other: Total 23.
Source: Harvard University. Report of the President of Harvard College and Reports of the Departments for 1948-49, p. 78.
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Economics 245b
Spring 1949
Professors Goodwin and Haberler
This course will be conducted as a Seminar with a certain amount of lecturing. The students are expected to have taken a course in Cycles in addition to having done a fair amount of work in General Theory and Money and Banking. Each student is supposed to prepare a paper and possibly present it in class. Participation in discussion is also expected. Suggestions of topics for Student papers will be made during the first meetings.
Students are expected to do some general reading outside the area of their paper in order to be able to participate in the discussion. Choose reading from the following list. Books in List A have been authorized for purchase through Veterans Administration. Books in List B have not been authorized.
List A
Beveridge, W.: Full Employment in a Free Society. (Attention is drawn to Appendices A and C.)
Burns and Mitchell: Measuring Business Cycles. (See especially Chs. 1-4, 9-12.)
Hansen, A.H.: Economic Policy and Full Employment
Harris, S.E.: The New Economics (See especially Parts VI and VIII).
Harrod: Dynamic Economics
Kuznets: National Income: Summary of Findings
Pigou: Lapses from Full Employment
Schumpeter: Business Cycles (especially Vol. I).
Readings in the Theory of Business Cycles (see especially Chs. 1, 2, 4, 16, 21).
Survey of Contemporary Economics
Income, Employment and Public Policy
List B
Ames: “The Contributions of Burns, Mitchell and Frickey to Business Cycle Theory,” in Econometrica, October 1948.
Fellner: Monetary Policies and Full Employment
Tinbergen: Statistical Testing of Business Cycle Theories, Vol. I, League of Nations, 1939
Wilson, T.: Fluctuations in Income and Employment
Wilson, T.: “A Reconsideration of the Theory of Effective Demand” in Economica, November 1947.
Additional references to the literature will be given in class in connection with topics for seminar papers.
Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 4, Folder “Economics, 1948-1949. (2 of 2)”.
Image Source: Collage from faculty pictures of Goodwin and Haberler in Harvard Album 1951.