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Courses Exam Questions Harvard Socialism Suggested Reading Syllabus

Harvard. Schumpeter’s Socialism Course. Syllabus and Exam, 1946

Welcome to my blog, Economics in the Rear-View Mirror. If you find this posting interesting, here is the list of “artifacts” from the history of economics I have already assembled for you to sample or click on the search icon in the upper right to explore by name, university, or category. You can subscribe to my blog below.  There is also an opportunity to comment below….

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…Regular vistors to this blog have seen that an economics course on socialist thought and movements was a regular part of the curriculum at Harvard during the first half of the twentieth century. Up to this posting I have included material from the following courses: Thomas Nixon Carver’s SINGLE TAX, SOCIALISM, ANARCHISM (1919-20), Edward Mason and Paul Sweezy’s ECONOMICS OF SOCIALISM (1938), and Paul Sweezy’s ECONOMICS OF SOCIALISM (1940).

This course became part of Joseph Schumpeter’s teaching portfolio in the 1940s. His course outline and exam for the winter semester of 1943-44 has been posted as well.

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[Course Announcement]

Economics 11b. Economics of Socialism

Half-course (spring term). Mon., Wed., and (at the pleasure of the instructor) Fri., at  10. Professor Schumpeter.

Source: Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1945-46. Official Register of Harvard University, Vol. 42, No. 8 (March 31, 1945), p. 36.

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[Enrollment]

[Economics] 11b (spring term) Professor Schumpeter. –Economics of Socialism.

5 Graduates, 18 Seniors, 21 Juniors, 15 Sophomores, 1 Freshman, 8 Radcliffe, 9 Other.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1945-46, p. 58.

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ECONOMICS 11b
1945-46
OUTLINE AND ASSIGNMENTS

[Joseph A. Schumpeter]

I.   FIRST TWO WEEKS: The Socialist Issue.

Socialist ideas and socialist parties. Socialism and the labor movement. Laborite and intellectualist socialism. The definition of socialism.

*H. W. Laidler, Social-Economic Movements, 1944, esp. Parts V and VI.
Encyclopaedia of the Social Sciences, article on Socialist and Labor Parties.

II. THIRD TO FIFTH WEEK: The Theory of Centralist Socialism., 1938

*O. Lange and F. M. Taylor, The Economic Theory of Socialism, 1938.
[A. P. Lerner, The Economics of Control, 1944.]

III. SIXTH TO NINTH WEEK: The Economic Interpretation of History. The Class Struggle, and the Marxist Theory of Capitalism.

*Karl Marx, Capital, Volume I, chs. I, IV, V, VI.
Marx and Engels, The Communist Manifesto.
*Paul M. Sweezy, The Theory of Capitalist Development, 1942, chs. I-VI
(pp. 1-108).

IV. TENTH TO TWELFTH WEEK: The Socialist Theory of the State and of the Proletarian Revolution, Imperialism, National Socialism.

V.I. Lenin, State and Revolution, 1926.
[M. Dobb, Political Economy and Capitalism, ch. VII.]
Paul M. Sweezy, The Theory of Capitalist Development, Chs. XIII-XIX.

READING PERIOD ASSIGNMENT

Read E. Bernstein, Evolutionary Socialism, 1909, especially pp. 18-95, and survey again the items in the reading list marked *.

NOTE: The items in square brackets are recommended but not assigned. So is: Bienstock, Gregory, and Schwartz, Management in Russian Industry and Agriculture, 1944.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. HUC 8522.2.1. Box 4, Folder “Economics, 1945-1946 (1 of 2)”.

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1945 – 46
Harvard University
Economics 11b

One question may be omitted. Arrange your answers in the order of the questions.

  1. What is Syndicalism?
  2. Characterize the type, aims, and importance of the group that called itself Fabians.
  3. “Rational allocation of factors of production presupposes the existence of prices. Prices presuppose free markets. Hence the problem of rational allocation of factors of production would be insoluble in a socialist society.” Criticize.
  4. Discuss the various methods by which investment could be financed (that is, the resources for the extension of the productive apparatus could be provided) in a socialist society.
  5. Explain and criticize what is known as the Marxist Theory of Exploitation.
  6. What meaning do you attach to, and what do you think of, the proposition that Socialism is “inevitable?”

Final, May 1946

Source: Harvard University Archives. Joseph Schumpeter Papers. Lecture Notes Box 2, Folder “Course notes (Jan 1950—Found in Drawer—Cambridge Study) Misc 1945-1947”.

Image Source: Harvard Album 1947.

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Courses Exam Questions M.I.T. Suggested Reading Syllabus

M.I.T. Intermediate Macroeconomics. Modigliani, 1961

Welcome to my blog, Economics in the Rear-View Mirror. If you find this posting interesting, here is the list of “artifacts” from the history of economics I have already assembled for you to sample or click on the search icon in the upper right to explore by name, university, or category. You can subscribe to my blog below.  There is also an opportunity to comment below….

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These course materials for undergraduate intermediate macroeconomics at MIT in the Spring term of the 1960/61 academic year are clearly identified as being for a course taught by Franco Modigliani. As it happens from time to time, one finds syllabi and reading lists in the files of colleagues and not just in the papers of students who took the course or the professors who taught them. These materials from reading list through class-assignments, term-paper assignment, up to and including the final examination all come from Robert Solow’s papers at the Duke University library’s Economists’ Papers Project. 

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14.05 Economic Fluctuations and Growth

Prereq.: 14.02
Year: U(1,2)     3-0-5

Analytical study of determinants of national income level, employment, and prices; study of their fluctuations and long-run trends. Consideration of historical and current behavior of the economic system, and role of stabilization policies.

Modigliani

Source:   Massachusetts Institute of Technology Bulletin. The General Catalogue Issue for the Centennial Year 1960-61. p. 240.

 

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Spring, 1961
Professor Modigliani

 

14.05—Economic Fluctuations and Growth
READING LIST

 

Suggested Purchases: Dernburg & McDougall, Macro-Economics (1960)—(referred to below as D&M)
US Department of Commerce, U.S. Income and Output (1958)
Federal Reserve Chart Book, Historical Supplement (1960)

Review references in each section are to Samuelson, Economics (4th ed., 1958)

 

I. Introduction

Review: Samuelson, Ch. 1
New: D&M, Ch. 1

Friedman: Essays in Positive Economics, pp. 1-30.

II. National Income and Other Measures of Economic Activity.

Review: Samuelson, Ch. 10
New:   D&M, Ch. 1-5

Hart, Money, Debt, and Economic Activity (2nd ed., pp. 167-171)
G. Moore, Statistical Indicators of Cyclical Revivals and Recessions, pp. 1-20, 63-77
Survey of Current Business—“The Business Situation” in a recent issue, and look at annual review in February, 1960, number.

References: For current business conditions and course problems, get acquainted with the following, by examining thoroughly at least one recent issue:

Survey of Current Business (monthly; annual summary in February; National Income issue in July)
Federal Reserve Bulletin (monthly)
Economic Indicators (monthly; historical supplement, 1957)
See Bratt, Business Cycles and Forecasting (1953), Chapter 15, for additional source material

III. The Supply of Money and the Banking System.

Review: Samuelson, Chap. 15 and Appendix, 16.
New:   Hart, Money, Debt, etc., Ch. 4 and 6.

Federal Reserve System: Purposes and Functions

IV. The Determinants of the Level of National Income.

A. Monetary Approaches

Review: Samuelson, Ch. 14 and Appendix
New:   D&M, Ch. 9

Hart, Money, Debt, Ch. 10, 12

B. The Theory of Effective Demand

Review: Samuelson, Ch. 11, 12
New: D&M, Ch. 6, 7

Hart, Money, Debt, Ch. 11, pp. 167-179
(optional) Modigliani & Brumberg, “Utility Analysis and the Consumption Function”, in Post-Keynesian Economics (esp. pp. 388-418)
(optional) Ando, “Aggregative Implications of the Modigliani-Brumberg Consumption Function” (mimeographed), pp. 1-118 and Summary

V. Cyclical Fluctuations and Growth.

A. Nature and Causes of Economic Fluctuations

Review: Samuelson, Ch. 13
New: D&M, Ch 19, Section 1-3

Metzler, “The Nature and Stability of Inventory Cycles”, Review of Economics and Statistics, 1941-42
Modigliani, “Business Reasons for Holding Inventories and their Macro-economic Implications”, pp. 495-506
Modigliani, “Discussion of Hickman on Capacity, Capacity Utilization and the Acceleration Principle”, pp. 450-463 N.B.E.R. reprint
Cobren, “Inventories in Postwar Business Cycles”, Survey of Current Business, April, 1959
Tinbergen, The Dynamics of Business Cycles, Ch. 13
Hicks, Trade Cycle, Ch. 8, 9 (optional)
Fortune, series on the capital goods market in August, September, November, and December, 1958. (Sample, especially December issue.)

References only: Summaries of historical development of business cycle theories: Haberler, Prosperity and Depression, Part I.

B. Growth and its Interrelation with Cycles

D&M Ch. 16, 17
Abramovitz, Resource and Output Trends in the U.S. since 1870
(optional) Ando & Modigliani, “Growth Fluctuations and Stability”, AER, May 1959, pp. 501-524
Bratt, Business Cycles and Forecasting (1953 ed.), Ch. 3
“A New Look at Production Growth Rates”, in Survey of Current Business, April 1957
Fortune, “The Market of the 1960’s” (series of 9 articles, Jan.-Sept. 1959) (Sample, esp. April issue)
Committee for Economic Development, Economic Growth in the United States (hurriedly)

VI. Business Forecasting.

Charles Roos, “Survey of Economics Forecasting Techniques”, Econometrica, October 1955
Moore, Statistical Indicators of Cyclical Revivals and Recessions, pp. 63-77 (National Bureau of Economic Research Method)
Moore, Measuring Recessions, esp. pp. 259-272
Sidney S. Alexander, “Rate of Change Approaches to Forecasting—Diffusion Indexes and First Differences”, The Economic Journal, June 1958
Fortune, “The Business Roundup”, January 1960
“1959 Survey of Consumer Finances”, Federal Reserve Bulletin, July and September 1959 (note supplementary tables)
Klein & Lansing, “Decisions to Purchase Consumer Durable Goods”, Journal of Marketing, October 1955
Fortune, series cited above on “The Market of the 1960’s” and on “The Coming Capital Goods Boom”
Modigliani & Weingartner, “Forecasting Uses of Anticipatory Data on Investment and Sales”
Bassie, Economic Forecasting (good general reference)
Abramson and Mack, Business Forecasting in Practice (for reference)

VII. Public Policy and Economic Stabilization.

A. Synthesis of Monetary and Income Analysis

Review: Samuelson, Ch. 17
New: D&M, Ch. 8, 9, 10

B. Monetary Policy

D&M, Ch. 11
United States Monetary Policy (American Assembly) –(esp. Ch. 1, 2, 4, 6)
Friedman, “The Supply of Money and Changes in Output”, in The Relationship of Prices to Economic Stability and Growth (Joint Econ. Committee)
Bach, “The Economics and Politics of Money”, Harvard Business Review 1953 (reprint)
Committee on the Economic Report (Patman Subcommittee)—Replies pp. 368-384, 402-428 (for reference)

C. Fiscal and Debt Policy

Review: Samuelson, Ch. 18
New:   D&M, Ch. 20, 21

The Federal Budget in Brief for Fiscal 1961 (get acquainted; copy of complete budget also on reserve)
Committee on Economic Development, Taxes and the Budget; also reprinted in Readings in Fiscal Policy (Parts I and II only)
Committee on Economic Development, The Budget and Economic Growth
Samuelson, “The New Look in Tax and Fiscal Policy”, in Federal Tax Policy for Economic Growth and Stability, pp. 229-34
Butters, “Taxation, Incentives, and Financial Capacity”, in Readings in Fiscal Policy
McCracken, “The Debt Problem and Economic Growth”, Michigan Business Review, November 1956

D. Wages, Productivity, Prices, and Inflation

D&M, Ch. 12, 14, 18
Wages, Prices, Profits and Productivity, American Assembly, (esp. Ch. 1, 3, 4, 6)

E. Overall Stabilization Policy and Economic Growth.

Friedman, “Framework for Monetary-Fiscal Stability”, Readings in Monetary Theory, OR;
Bach, “Monetary-Fiscal Policy Reconsidered”, Readings in Fiscal Policy
Rockefeller Committee, The Challenge to America
C. E. D. Defense Against Inflation, July 1958
Eckstein, “Inflation, the Wage-Price Spiral, and Economic Growth”, in The Relationship of Prices to Economic Stability and Growth (Joint Economic Committee)
Bach, Inflation, Ch. 2, 4
Samuelson and Solow, “Analytical Aspects of Anti-Inflation Policy”, AER May 1959 (reprint)

VIII. International Aspects.

Review: Samuelson, Ch. 31 and Appendix
New:   D&M, Ch. 15

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Spring 1961
Professor Modigliani

14.05 – Economic Fluctuations and Growth
GUIDE SHEET TO BASIC ECONOMIC DATA SOURCES.

BASIC HISTORICAL INFORMATION:

Historical Statistics of the United States Colonial Times to 1952 (U. S. Government Printing Office) – Data on all major economic and many social areas, with descriptions of series.

U. S. Income and Output – A Supplement to the Survey of Current Business, providing data of all components of gross national product, 1929-1957.

Banking and Monetary Statistics, 1860-1941 (Board of Governors, Federal Reserve System)-More detailed series on money and banking, with descriptions of series.

The Economic Almanac (published annually by the National Industrial Conference Board) – each issue repeats large amount of historical data, some back to 1790. Several of these series go back further than the official government series; as such, they are often less accurate because of the less adequate coverage of the series and larger likely estimating errors involved.

(U. S. Census (U. S. Government Printing Office) – Vast amounts of data on most aspects of the economic life of business and individual, reaching back to 1790. Difficult to use without assistance or experience.

CURRENT DATA – OFFICIAL SOURCES

Survey of Current Business (U. S. Department of Commerce, monthly) – The most complete source of basic economic data, plus objective analyses of various economic developments. An annual survey is published each year in the February issue, and Annual Statistical Supplements have been issued in several recent years, which provide the data in more easily usable form than do most of the monthly issues.*

Federal Reserve Bulletin (Board of Governors, Federal Reserve System, monthly) – The basic source of current official monetary and banking data, plus monthly analyses of monetary developments.

Monthly Labor Review (U. S. Department of Labor) – The basic source of current official data on labor and on price movements, plus monthly analyses of developments in these areas.

Statistical Abstract of the U. S. (U. S. Government Printing Office, annually) – The basic annual compilation of all U. S. Government statistical data; corresponds to the Historical Statistics of the United States, above.

*Business Statistics, 1959 Biennial Edition – The latest major supplement to the Survey. It includes all major series published in the Survey, from 1929 through 1958 in most cases.

CURRENT DATA AND ANALYSES—UNOFFICIAL

There are a vast number of analyses of current economic developments published. Among the more widely recognized as careful and influential are:

Monthly Letter of the National City Bank of New York – General business conditions and financial conditions.

Fortune Magazine (monthly) – Current business analyses and industry studies, written from a relatively “liberal” business slant.

The Conference Board Business Record (National Industrial Conference Board, monthly) – Briefly analyzes current developments; more conservative than Fortune.

CURRENT EVENTS—NEWSPAPERS

Three newspapers are widely thought to provide the most complete coverage of current economic events. They are:

New York Times (daily and Sunday) – Provides the most complete coverage of current economic events.

New York Herald-Tribune (daily and Sunday) – The Times’ closest rival.

Wall Street Journal (daily) – Leading financial and business paper. Complete daily data on most important markets; also includes many speculative news stories and analyses of current and expected developments.

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Spring, 1961
Professor Modigliani

14.05-Economic Fluctuations and Growth
WRITTEN ASSIGNMENTS

I. Due Monday, February 13

“Inflation erodes the purchasing power of the dollar, robs the average man, and lowers the national standard of living. These results are pernicious and disastrous. Inflation must be avoided.” (Excerpt from recent statement by U. S. Senator)

Do you agree with the Senator? Why or why not?

 

II. Due Friday, September 17

Prepare a brief report (two to three pages) on the current business conditions and the outlook for the next six to twelve months.

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Spring, 1961
Professor Modigliani

14.05-Economic Fluctuations and Growth
WRITTEN ASSIGNMENT

III. Due February 24

Economists as well as politicians are very much concerned with the overall burden of taxes, or share of the nation’s income taxed away by the government.

Using as a framework for National Income Accounts of the Department of Commerce, state and defend what seems to you the most useful and meaningful measure of the “share of the nation’s income taken by the government” (paying attention to the numerator as well as to the denominator). Compute this year for 1948 and 1957.

Is the above concept identical with the “share of the nation’s output of goods and services consumed by the government”? If not, define the second concept and measure this year for the same two years.

Include any comments that may be suggested by your empirical findings.

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Spring, 1961
Professor Modigliani

14.05-Economic Fluctuations and Growth
WRITTEN ASSIGNMENT

IV. Due March 6

In a small, completely isolated economy (i.e., no foreign trade with money-using habits comparable to those of the U. S., there are four identical banks. Each bank’s balance sheet is as follows:

Cash $3,000,000 Deposits $8,000,000
Loans 2,000,000
Government Securities 5,000,000 Capital and Surplus 2,000,000
$10,000,000 $10,000,000

The law prescribes that banks must hold a 20% cash reserve against deposits. There is no central bank.

(a) A customer of bank letter a minds $1 million of gold (considered as cash for reserve purposes) and deposits it in his bank. Trace through any likely expansion of the money supply by Bank Letter a and by the entire banking system. What would be the maximum expansion possible?
Specify clearly any assumptions that you make, and state your reasoning carefully and precisely.

(b) Is the banking system in a more or less sound position after the gold deposit in any consequences you have predicted above? Explain why or why not.

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Spring, 1961
Professor Modigliani

14.05-Economic Fluctuations and Growth
WRITTEN ASSIGNMENT

V. Due March 10

In 196X the Federal Government will collect about 85 billion in taxes, according to present estimates, which also indicate that the money will be used roughly as follows:

Regular government expenses $77 billion
Repayment of government debt
…..Held by commercial banks 3 billion
…..Held by individuals and businesses other than banks 5 billion

Suppose these estimates are accurate, and assume it Government deposits are carried out with the commercial banks.

a. What will be the effect of these operations on the amount of money (current and deposits) owned by the public (including individuals and businesses other than banks)?

b. What will be the effect on the amount of total liquid assets (money plus government securities) owned by the public?

c. How, if at all, would your answers to (a) and (b) have been different if:

(1) All bonds paid off had been owned by commercial banks.
(2) All months paid off had been owned by the Federal Reserve Banks.

d. What generalization, if any, can you draw from this reasoning as to the most effective means of retiring the government debt, if the main aim is to alleviate inflationary pressure.

Explained concisely the reasoning by which to obtain the answers given.

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14.05-Economic Fluctuations and Growth
TERM PAPER—DUE MAY 15, 1961

Write an essay on the postwar “creeping inflation” in the U.S. – Its nature, causes and possible remedies. The essay should review the major explanations that have been advanced (e.g. cost-push and demand-poll); assess their usefulness in the light of the empirical evidence; and provide a formulation of your own conclusions and the evidence which supports them. It should further examine the implications of your analysis with respect to the outlook for price stability in the years immediately ahead.

The following items have been placed on reserve in Dewey Library to serve as a starting point, you should feel free to trace and use other references.

Books

American Assembly, Wages, Productivity, Prices, and Inflation
American Assembly, Wages, Prices, Profits and Productivity
Bowen, W. G., The Wage–Price Issue

Pamphlets, Monographs, Periodicals, etc.

Bowen, W. G., “Wage Behavior in the Postwar Period”, monograph, Industrial Relations Section, Princeton University, 1960
Eckstein, O., “Inflation, the Wage-Price Spiral, and Economic Growth”, in The Relationship of Prices to Economic Stability and Growth (Joint Economic Committee)
Phelps, E. S., “A Test for the Presence of Cost Inflation in the United States, 1955-1957”, Yale Economic Essays, Spring 1961
Samuelson and Solow, “Analytical Aspects of Anti-Inflation Policy”, AER, May 1960
Schultze, C., “The Recent Inflation in the United States”, Study Paper No. 1, Joint Economic Committee, 1959
Selden, R., “Cost-Push Versus Demand-Pull”, JPE, February 1959

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Prof. Modigliani
May 24, 1961

 

14.05 – ECONOMIC FLUCTUATIONS AND GROWTH
Final Examination

Answer all Questions.

I. Indicate whether the following statements are true or false and give a brief explanation of your answer. Major weight attaches to the explanation. (5 points per question)

(a) The money supply can always be increased through the Federal Reserve open market purchases.

(b) The relation between the two main demand liabilities of the FRB, namely Federal Reserve notes and member bank deposits is determined primarily by reserve requirements.

(c) Inflation will tend to occur whenever the money supply rises faster than productivity.

(d) Liquidity preference helps to explain why the velocity of circulation tends to vary over the business cycle.

(e) If the rate of investment expenditure declines, the stock of capital goods in the economy declines.

(f) Built-in flexibility in fiscal policy means that the level of government expenditure should vary countercyclically.

(g) A high marginal tax rate has a stabilizing effect on the economy by reducing the marginal propensity to consume.

(h) The most important characteristic of a good leading indicator is that it should always turn ahead of general business conditions.

 

II. (20 points) Given the following information (in billions of dollars per year):

Full employment income (Yf) 300
Consumption expenditure 20 plus 80 percent of disposable income
Government purchase of goods and services 50
Government receipts 20 percent of national income (Y)
Transfer payments 10 plus 5 percent of the difference between Yf and Y
Net investment 22

(a) Calculate the equilibrium level of income implied by this information and explain carefully in what sense it is an “equilibrium” level.

(b) What rate of investment would be required to bring about full utilization of resources? What measures other than an increase in investment could be utilized to reach full employment?

 

III. (20 points) Define the following concepts:

(a) multiplier

(b) capital coefficient

(c) acceleration principle,

and explain their use in business cycle analysis.

 

IV. (20 points) Explain the functioning of monetary policy as a stabilization device, and analyze its strength and weaknesses.

 

Source: Duke University. Rosenstein Library. Robert Solow Papers. Box 68. Folders “Reading Lists”, “Assignments, home problems”, and “Exams, tests, quizzes”.

Categories
Courses Exam Questions Harvard Socialism Syllabus

Harvard. Economics of Socialism. Mason and Sweezy, 1938

Between one slice of two weeks of pre-Marxian socialism and a slice of two weeks of the economics of planning, Mason and Sweezy offered their students a full portion of Marxian economics with an added dash of Leninism. This posting provides the enrollment, syllabus and final examination questions for 1938. Future Nobel prize laureate James Tobin was a student in the course and he took excellent notes! Here  a link to the Economics of Socialism that Paul Sweezy taught by himself in 1940.

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Welcome to my blog, Economics in the Rear-View Mirror. If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled for you to sample or click on the search icon in the upper right to explore by name, university, or category. You can subscribe to my blog below.  There is also an opportunity to comment following each posting….

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[Course Enrollment: Economics of Socialism]

[Economics] 11b 2hf. (formerly 7d). Professor Mason and Dr. P. M. Sweezy.—Economics of Socialism.

1 Graduate; 27 Seniors; 23 Juniors; 1 Sophomore: Total 52.

Source: Harvard University. Report of the President of Harvard and Reports of Departments for 1937-38, p. 85.

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ECONOMICS 11 b
Outline and Reading
1937 – 38

Week of
Feb. 7-12
Mason		 a.  Outline of Course
b.  Utopian and Scientific Socialism
c.  Nature of Socialism as Utopia
Feb. 14-19
Mason		 a.  Saint-Simon
b.  Fourier
c.  Robert Owen
Reading:

Engels, Anti-Dühring, Part III
Strachey, Theory and Practice of Socialism, Part III
Gide and Rist, History of Economic Doctrines, Book II,
Chs. 2 & 3
Feb. 21-26
Mason		 a.  Life and Works of Marx and Engels
b.  Dialectical materialism and
c.  Historical materialism
Reading:

Riazanov, Marx and Engels
Feb. 28-Mar. 5
Mason		 a.  Theory of Classes
b.  Theory of the State
c.  The State and Revolution
Reading:    Handbook of Marxism [Burns],

Ch. I (Communist Manifesto)
Ch. IV (Class Struggles in France),
Ch. V (18th Brumaire),
Ch. VII (Civil War in France),
Ch. XX (Introduction to the Critique of Political Economy)
Mar. 7-12
Mason		 a.  Theory of Value
b.  Theory of Value
c.  General Tendencies of Capitalist Development
Mar. 14-19
Mason		 a.  Concentration and Centralization of Capital
b.  Monopoly Problem in Capitalism
c.  According to Marx and Lenin
Mar. 21-26
Mason		 a.  Marxian and Modern Views on
b.  Wages and Technological Unemployment
c.  Marxian Theory of Crises
Mar. 28-Apr. 2
Sweezy		 a.  Marxian Theory of Crises
b.  Imperialism
c.  Imperialism
Reading:

Handbook of Marxism, Ch. XXI (Capital)
Capital, Vol. I, Part VII, Ch. XXV, Sections 1, 2, 3, 4
Lenin, Imperialism

VACATION
Apr. 11-16
Mason		 a.
b.  The Socialist Movement After Marx
c.
Apr. 18-23
Mason		 a.
b.  Marxian Schools of Thought

Reading:

Sidney Hook, Towards the Understanding of Karl Marx, Part I
Further assignment to be announced.
Apr. 25-May 7
Sweezy		 Two weeks to be devoted to the following topics:
1.  Marxian and Orthodox Economics
[Handwritten note:] Rev of Ec Studies June ‘35
2.  The Allocation of Resources in Socialist Society
Reading:

Lange, Marxian Economics and Modern Economic Theory                         [Handwritten note:] Rev of Ec Studies June ‘35
Hayek, Collectivist Economic Planning, Chs. I, III, V
Pigou, Socialism versus Capitalism

Reading Period:

Sidney and Beatrice Webb, Soviet Communism, Vol. II
Chs. VIII, IX
[Handwritten additions:]
Ch 6 Lippman

Oct. 36 Rev of Ec Studies—Lange—On the Economic Theory of Socialism—Taussig memorial—Sweezy—Economist in Socialist State.

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1937-38
HARVARD UNIVERSITY
ECONOMICS 11b/2 

I

(About one hour)
Reading Period Question

  1. What features of the Russian economic system do you think could be adopted by a capitalist country? What features seem to you to be peculiarly the product of socialism and hence inapplicable under a capitalist system? 

II

Answer four questions

  1. “The most egregious error committed by the Marxist theorists is in misunderstanding and underrating the strength of the middle classes.” Discuss.

 

  1. What arguments does Mises use to support his claim that socialism is impossible? Do you agree with these arguments? State your reasons.

 

  1. Summarize the fundamentals of Lenin’s theory of imperialism. What do you regard as the particular merits or weaknesses of this theory?

 

  1. “To what extent is it true to say that the doctrine of the ‘withering away of the state’ implies anarchism as the ultimate goal of Marxian socialism?

 

  1. State and criticize the Marxian theory of value.

 

  1. Do you think that Marxists are justified in regarding crises and depressions as inevitable under capitalism? What grounds are there for believing that they might be eliminated under socialism?

 

Final. 1938

Source: Yale University Library, Manuscripts and Archives. James Tobin Papers, Box 6.

Image Source: Mason and Sweezy portraits from the Harvard Album 1939.

Categories
Courses Harvard Syllabus

Harvard. International Trade, Finance & Policy. Haberler, 1949-51

 

Welcome to my blog, Economics in the Rear-View Mirror. If you find this posting interesting, here is the list of “artifacts” from the history of economics I have already assembled for you to sample or click on the search icon in the upper right to explore by name, university, or category. You can subscribe to my blog below.  There is also an opportunity to comment below….

______________________

Gottfried Haberler’s two term Harvard graduate course sequence in International Economics at mid-century was divided along Theory vs. Policy lines as opposed to the (real) Trade & Commercial Policy vs. (monetary) International Finance & Exchange used in current textbooks.

I have taken the liberty of combining the Fall term in 1949 with the Spring term of 1951 for which I have the reading lists. I could not find the latter at Harvard, but spotted a copy in Milton Friedman’s papers in a folder for other people’s syllabi.

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[Economics 243a International Trade. Enrollment, Fall Term 1949]

Total 36:   23 graduates, 1 senior, 12 other (of which 1 MIT, 4 Radcliffe).

 

Source: Harvard University. Report of the President of Harvard College and reports of departments, 1949-1950, p. 75.

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Economics 243a
Professor Haberler – Fall Term, 1949

During the first half year, the theory of international trade, including the theory of tariffs and other international trade policies, will be discussed in a systematic fashion. The subject of the spring term will be selected topics in the field of international economic relations.

Outline for First Half-Year

  1. International trade and national income. The importance of trade for various countries. Measures of importance.
  2. International accounts. International transactions of the national economic budgets.
  3. Foreign exchanges. Demand and supply for exports and imports. The market for foreign currency. Purchasing power parity theories.
  4. The balance of payments mechanism. Price effects, income effects, the foreign trade multiplier. The transfer problem.
  5. The international division of labor. The theory of comparative cost. Modern developments of the theory of comparative cost. Ohlin’s general equilibrium theory of interregional and international trade.
  6. The welfare implications of international trade theory. The theory of tariffs and protection in general. Monopoly and monopolistic competition in international trade.
  7. International trade theory and location theory.

 

Reading Assignments and Suggestions
General

The literature in the subject is so rich that students can acquire the knowledge necessary for the course in many different ways. Students are invited to make their own choice from the suggestions below. Two extensive bibliographies have been prepared in former terms for other courses. One may be obtained from Ms. Buller, Littauer 322; the other from Professor Williams’ secretary, Littauer 231. Each student is expected to have read one or the other of the following general monographs or texts:

Ellsworth: International Economics
Enke and Salera: International Economics
Haberler: Theory of International Trade
Harris (Editor): Foreign Economic Policy for the U.S. (especially Part V)
Harrod: International Economics (3rd edition, 1939)
Marshall: Money, Credit, and Commerce, (Part III and Appendix g)
Meade and Hitch: Introduction to Economic Analysis and Policy (Part III)
An excellent discussion of recent developments will be found in: Metzler: “The Theory of International Trade,” Chapter. 6, Survey of Contemporary Economics (1948)
Readings in the Theory of International Trade contains an excellent collection of articles on all phases of the course
Taussig: International Trade (1927)
Tinbergen: International Economic Cooperation (1945)
Whale: International Trade

Assignments and Suggestions to Subjects Listed Above

(in addition to relevant chapters in general texts)

  1. The Post-War Foreign Economic Policy of the United States. 6th Report of the House Special Committee on Post-War Economic Policy and Planning. House Report No. 541. Washington, 1945. (This report was written by Lloyd Metzler.)
    The United States in the World Economy, U. S. Department of Commerce, 1943.
    Buchanan and Lutz: Rebuilding the World Economy (1947)
    J. Brown: Industrialization and Trade (1943)
    A. J. Brown: Applied Economics (1948), Ch. VI
    Readings, Chs. 21 and 22, by D. H. Robertson and J. Finder
  2. Balance of Payments Yearbook, 1938-1941-1947 (International Monetary Fund)
    Hicks: The Social Framework of the American Economy, Ch. XII, “Foreign and National Income”
    The Survey of Current Business (monthly publication of Dep. of Commerce) has frequent articles on trade and balance of payments statistics.
    The United States in the World Economy (U.S. Department. of Commerce, 1943)
  3. Nurkse: International Currency Experience (League of Nations, 1944)
    J. Robinson: “Foreign Exchanges,” Essays on the Theory of Employment (1st ed., 1938; 2nd ed., 1947), Part III; reprinted in Readings, Chapter 4.
    J. Robinson: “Beggar-My-Neighbor Remedies for Unemployment,” Readings, Ch. 17.
    Machlup: “The Theory of Foreign Exchanges,” Economica, 1939 (two articles); Readings, Ch. 5.
    Pigou: “The Foreign Exchanges,” Quarterly Journal of Economics, November, 1922, Reprinted in Essays in Applied Economics (1927)
    Metzler: op. cit.
    Harris (Editor): Foreign Economic Policy for the U. S., Part V, Chs. 20, 21, 22.
  4. Keynes and Ohlin on German Reparations in Economic Journal, 1929; and Readings, Chs. 6 and 7.
    Iversen: International Capital Movements, 1935.
    Machlup: International Trade and the National Income Multiplier (1943)
    Harris (Editor): The New Economics, Part V, especially essays by Bloomfield and Nurkse.
    Williams: Post-War Monetary Plans and Other Essays (3rd edition, 1947).
  5. In addition to general texts, see:
    Edgeworth: Papers Relating to Political Economy, Vol. II, p. 3-60.
    Ellsworth: “A Comparison of International Trade Theories,” American Economic Review, June, 1940.
    Leontief: “The Use of Indifference Curves in the Analysis of Foreign Trade,” Quarterly Journal of Economics, May, 1933; Readings, Ch. 10.
    Mill: Principles
    Ohlin: op. cit. Parts I, II, and possibly III.
    Readings, Chs. 12, 13, 15, by J. H. Williams, E. Heckscher, and W. Stolper and P. Samuelson
    Ricardo: Principles
    Taussig: International Trade
    Viner: Studies in the Theory of International Trade (last two chapters)
  6. Samuelson: “The Gains from Trade,” Readings, Ch. 11.
    Scitovszky: “A Reconsideration of the Theory of Tariffs,” Readings, Ch. 16.
    Henderson: “The Restriction of Foreign Trade,” in The Manchester School of Economic and Social Studies, Volume 14, January, 1949.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1). Box 5, Folder “Economics 1949-1950, 3 of 3”.

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1950-51
Economics 243b
Spring Term—Professor Haberler

International Economic Policy

with special emphasis on the theoretical foundations

  1. Introduction
    Theory and Policy
    Aims of Economic Policy
    International Trade, Economic Welfare and National Income
    International Trade and Employment
    The Quantitative Importance of International Trade
  2. Brief Sketch of the Historical Evolution of Theory of International Trade and International Economic Policy
    Pre-Mercantilist Views
    Mercantilism
    Classical Liberalism
    Reaction to Liberalism: Historical School
    From the Repeal of the Corn Law to 1914
    The Interwar Period
    –The 1920’s
    –The 1930’s
    Recent developments
    The Rise of Socialism and Planning and their Impact on Trade Policy
  3. Free Trade and Protection: A Theoretical Analysis
    The Case for Free Trade: The Theory of Comparative Cost
    Arguments for Protection: “Economic” vs. “Non-economic” Arguments
    Infant Industry Argument: Problems of Economic Development
    Terms of Trade: Monopoly and Monopolistic Competition in International Trade
    Trade Policy and Unemployment
  4. Balance of Payments, the Exchange Rate and International Monetary Policy
    The International Accounts
    –Balance of Payments and National Economic Budget
    Stable Exchanges
    –Gold Standard
    –Gold Exchange Standard
    Currency Depreciation
    –Demand and Supply for Exports and Imports
    –Market for Foreign Exchange
    –Stability Conditions
    The Transfer Problem
    Dollar Shortage
  5. Quantitative Restrictions
    Quotas
    Exchange Control
  6. Most-Favored-Nation Principle, Discrimination and the Economics of Regional Blocs
    Preferential Tariffs
    Customs Unions
    Economic Unions
    Monetary, Clearing and Payments Unions

 

Literature

General Treatises and Historical

  1. Descriptive and Historical
    Brown: Industrialization and Trade (1943)
    Buchanan and Lutz: Rebuilding the World Economy (1947)
    Condliffe: The Commerce of Nations (1950)
    League of Nations: The Network of World Trade (1942)
  2. Theoretical
    Ellsworth: International Economics (1938)
    Ellsworth: The International Economy (1950)
    Haberler: Theory of International Trade
    Harrod: International Economics (1938)
    Metzler “Theory of International Trade” in Survey of Contemporary Economics
    Ohlin: Interregional and International Trade
    Taussig: International Trade
    Marshall: Money, Credit, and Commerce
    Meade and Hitch: Introduction to Economic Analysis and Policy (Part V)
    J. S. Mill: Principles, Book III, Ch. 17, 18, 20, 21; Book V, Ch. 4 (reprinted in Selected Readings)
    Enke and Salera: International Economics
    Ellis and Metzler: Readings in the Theory of International Trade (quoted as “Readings”)
    Taussig (Editor): Selected Readings in International Trade and Tariff Problems (quoted as “Selected Readings”)
    Viner: Studies in the Theory of International Trade
    Williams: Postwar Monetary Problems and Other Essays

Reading for Individual Sections of Outline

  1. No specific reading.
  2. No specific reading.
  3. Practically all theoretical texts mentioned above. See especially:
    Ellsworth
    Haberler
    Readings: Chs. 10, 11, 15, 16
    Selected Readings, Chs. 1, 2, 9
    In addition: Haberler: “Some Problems in the Pure Theory of International Trade,” Economic Journal, June, 1950.
    A. Henderson: “The Restriction of Foreign Trade,” in The Manchester School of Economic and Social Studies, Vol. 14, January 1949.
    J.E. Meade: “A Geometrical Representation of Balance of Payments Policy,” Economica, November 1949.
    John Robinson: “The Pure Theory of International trade,” Review of Economic Studies, Vol. XIV, 1946-47.
    J.S. Mill, Principles.
  4. Balogh: Dollar Crisis (1949)
    Ellis: The Economics of Freedom
    Ellis: The Progress and Future of Aid to Euorpe (1950)
    Kindleberger: Dollar Shortage (1950)
    Harris: Foreign Economic Policy of the U.S., Part V. Essays by Haberler, Samuelson
    Harris: (Editor) The New Economics, Part V, especially the essays by Bloomfield and Nurkse
    Hicks: The Social Framework, Ch. 12.
    Metzler’s article in Survey.
    Nurkse: International Currency Experience, League of Nations, 1944.
    Readings, Chs. 4, 5, 6, 7, 17.
    Williams, op.cit.

 

Source: The Hoover Institution Archives. Milton Friedman Papers, Box 80, Folder 80.8 “Syllabi by others”.

Categories
Cornell Courses Curriculum

Cornell. Economics Courses and Faculty, 1914-15

Welcome to my blog, Economics in the Rear-View Mirror. If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled for you to sample or click on the search icon in the upper right to explore by name, university, or category. You can subscribe to my blog below.  There is also an opportunity to comment following each posting….

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In 1914 Frank H. Knight switched from graduate work in Philosophy to Economics at Cornell where he studied under (among others) Alvin S. Johnson and Allyn A. Young. His handwritten notes (on index cards) for his courses then can be found in his papers at the University of Chicago archives. These note-cards provide a fairly complete record of the economics training available provided at Cornell at that time. We will have occasion in future postings to refer to those notes, so that I thought it would be useful to post here (i) a transcription of the Cornell economics program as of 1914/1915 (embedded within “Political Science”) along with (ii) a list of the courses offered and (iii) nano-c.v.’s for the faculty.

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POLITICAL SCIENCE
[Cornell 1914-15]

Professors: W.F. WILLCOX, Economics and Statistics; A. S. JOHNSON, Economics and Distribution; A. A. YOUNG, Economics and Finance; S. P. ORTH, Economics and Politics; G. N. LAUMAN, Rural Economy; JOHN BAUER, Economics; J. R. TURNER, Economics; R. S. SABY, Political Science; R. G. BLAKEY, Economics; A. P. USHER, Economics.

Instructors: F. H. GILMAN, Economics; H. E. SMITH, Economics.

 

A graduate student in economics should have studied at least the equivalent of elementary courses in economics, economic history, politics, and social science. If he has not done this, he should take such elementary courses as early as possible; he will not ordinarily be allowed to present any of them as partial fulfillment of the requirement for a major or minor in any branch of political science. He should also have sufficient knowledge of French and German to be able to read necessary works in either language.

The work in political science in the President White School of History and Political Science falls into five divisions: economics, politics, statistics and social science, finance and distribution. These divisions aim to bring their work into close relationship with social, political, and business life. The members of the Faculty seek to keep in touch with the practical as well as the with purely scientific aspects of the problems treated, and have among their interests the preparation of students for positions in business and in public service. In statistics and social science, work is offered mainly in statistics, but to some degree also in the less definite field of social science. The statistical method has been found of especial service both in developing a scientific and judicial attitude and in bringing out many facts about social life not discoverable in any other way. After the introductory course in social science, an advanced course is open which deals with the dependent or semi-dependent classes and the care for them exercised by society, in part through governmental agencies and in part through private philanthropy.

In economics and distribution, a graduate course is offered in the theory of value and distribution, which is designed to familiarize the student with the main currents of contemporary economic thought. For undergraduates are offered courses covering the history of economics, the more general economic aspects of the labor problem, the history and theory of socialism, and the organization and methods of socialistic parties.

In economics and finance, a research course is offered to graduate students which is designed to afford training in the appropriate methods of investigation and to give familiarity with the fundamental sources of information. Other courses in this field open to graduates cover the more important economic aspects of both public and private finance.

This group uses two laboratories and several class rooms in proximity to each other and to the four division offices and one general office, an arrangement which has greatly facilitated intercourse between teachers and graduate students as well as among graduate students themselves. In the political science seminary room at the University Library and in the various offices and laboratories occupied by these departments, numerous publications in politics and in economics, such as market letters of leading brokers and technical business journals, are accessible to advanced students. The laboratories for classes in statistics and finance are supplied with standard and current books dealing with these subjects and with various mechanical devices for simple statistical processes and for securing a graphic and effective presentation of results. In the closely related subject of rural economy or agricultural economics, courses are offered dealing with the general economic and social problems of the open country arising from the growing complexity and intensity of agriculture and its relation with commerce, manufacturing, and transportation.

One teaching assistantship yielding $500 and tuition; three fellowships, two yielding $500 and one yielding $600; and two assistantships, each yielding $150 are filled each spring.

 

Source: Cornell University, Announcement of the Graduate School 1914-15, Official Publications of Cornell University Vol. V, No. 3 (January 15, 1914), pp. 34-36.

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COLLEGE OF ARTS AND SCIENCES
POLITICAL SCIENCE
[Courses offered 1914-15]

51. Elementary Economics. Throughout the year, credit three hours a term. One lecture and two recitations each week. Lectures, Barnes Auditorium, M, 9; repeated M, 11; Assistant Professor BAUER. Recitations T Th, 8, 9, 10, 11, 12; W F, 8, 9, 10, 11, 12. Assistant Professors BLAKEY, and USHER, Dr. SMITH, and Mr. GILMAN.

An introduction to economics including a survey of business organization and corporation finance; principles of value, money, banking, and prices; international trade; free trade and protection; wages and labor conditions; the control of railroads and trusts; socialism; principles and problems of taxation. Section assignments made at the first lecture.

52. Elements of Economics. Throughout the year, credit two hours a term. Assistant Professor TURNER. Lectures M, 9, repeated T, 9, Goldwin Smith A. Recitations to be arranged.

A special course for seniors in mechanical engineering. Not open to students in other colleges. Production and distribution of wealth, emphasizing particularly the financial or practical view instead of the theoretical. Lectures, textbooks, readings, and class discussions.

 53a. American Government. First term, credit three hours. Assistant Professor SABY. M W, 10, Goldwin Smith 142. Recitation hour to be arranged.

A general introduction to the study of political science with special reference to American government and politics. Lectures, textbook, class discussions.

53b. Comparative Politics. Second term, credit three hours. Assistant Professor SABY. M W, 10, Goldwin Smith 142. Recitation hour to be arranged.

A study of the political institutions of the leading European countries with special reference to their relations to present political problems in the United States. Lectures, textbook, class discussions.

54a. Municipal Administration. First term, credit three hours. Prerequisite course 53a. Assistant Professor SABY. M W F, 11, Goldwin Smith 264.

A study of the functions and problems of city government; the administration of public health and safety; charities and corrections; public works and finance; commission form of government. Lectures, textbook, and reports.

54b. State Administration. Second term, credit three hours. Prerequisite course 53a. Professor ORTH. M W F, 12, Goldwin Smith 256.

A study of the government of the American State; its relation to local government; the powers and functions of administrative boards and commissions; judicial control.
Lectures, readings, and reports. Each student will be required to make a somewhat detailed study of some particular state.

55a. Elementary Social Science. First term, credit three hours. Course 51 should precede or be taken with this course. Professor WILLCOX. M W F, 9, Goldwin Smith 256.

An introductory course upon social science or sociology, its field and methods, with special reference to the human family as a social unit, to be studied by the comparative, the historical, and the statistical methods.

55b. Elementary Social Science. Second term, credit three hours. Course 51 should precede or be taken with this course. Professor WILLCOX. M W F, 9, Goldwin Smith 256.

A continuation of the preceding course but with especial reference to the dependent, defective, and delinquent classes. Open to all who have taken 55a and by special permission to others.

56a. Elements of Business Law. First term, credit two hours. Professor ORTH. T Th, 11, Goldwin Smith B. Lectures, textbook, quizzes.

A brief survey of that portion of private law which deals especially with contracts, negotiable instruments, agency, and sales.
Courses 56a and 56b are designed primarily to meet the needs of students who contemplate entering business and not the profession of law, and credit will not be given to law students for these courses.

56b. Government Control of Industry. Second term, credit two hours. Prerequisite course 56a. Professor ORTH. T Th, 11, Goldwin Smith B. Lectures, reports, quizzes.

A scrutiny of the policy of governmental control of industry from the legal and political point of view, emphasis being laid on the development of the police power and its application to the regulation of private enterprise.

57a. Lectures on Citizenship. Second term, credit two hours. M W, 12 Goldwin Smith B.

A lecture each Wednesday by a non-resident lecturer and each Monday by a member of the department. The course has been arranged by a committee of Alumni who are actively engaged in civic and social work and who are cooperating in this way with the department. It will follow the same general plan as last year, but the speakers and most of the subjects treated will be changed. Among the subjects presented in 1914-15 will be the Citizen and the Immigrant in America, the Citizen and his Neighborhood, the Citizen and Commercial Organizations, the Citizen and the City Plan.
The course will be under the general charge of Professor WILLCOX. Readings, reports, and essays will be required.

58. Accounting. Throughout the year, credit four hours first term, three hours second term. Courses 51 and 56a must precede or accompany this course. Assistant Professor BAUER. T Th S, 8, Goldwin Smith 264.

59. Financial History of the United States. Second term, credit two hours. Prerequisite course 51. Assistant Professor BLAKEY. T Th, 11, Goldwin Smith 269.

A study of public and quasi-public finance from colonial times to the present. Special attention will be paid to money, currency, banking, tariffs, taxes, expenditures, panics, and war financiering.

60. The American Party System. First term, credit two hours. Prerequisite 53a. Professor ORTH. T Th, 12, Goldwin Smith 256.

A study of the evolution of the American political party; its relations to the machinery of government; election laws; the development of state control over the machinery of party. Lectures, readings, and reports.

[61. Jurisprudence. Second term, credit three hours. Prerequisite 53a, excepting for law students, to whom the course is open. Professor ORTH. Lectures, textbook, and reports.

A study of the classification and development of the principles of law, dwelling especially upon the growth of English and American legal institutions.
This course alternates with 78b.] Not given in 1914-15.

62. Business Management. Repeated in second term, credit one hour. Prerequisite courses 51 and 58; or 58 may be taken at the same time. Professor KIMBALL. T Th, 12, Sibley 4.

Seniors and graduates; others by permission. See S, 20, Sibley College.

63. Corporations and Trusts. First term, credit three hours. Prerequisite course 51. Professor YOUNG. T Th S, 11, Goldwin Smith 256.

Deals primarily with the business corporation, with special reference to its economic significance and effects and to the problems of its legal control, concluding with a discussion of industrial combinations.

64. Money and Banking. Throughout the year, credit three hours a term. Prerequisite course 51. Professor YOUNG. T Th S, 10, Goldwin Smith 142.

A discussion of the more important phases of the theory of money and credit is followed by a consideration of selected practical problems, including the revision of the American banking system. Practical work is required in the analysis of the controlling conditions of the money market, of organized speculations in securities, and of foreign exchange.

65a. The Industrial Revolution in England, 1700 to 1850. First term credit three hours. Prerequisite course 51, previously or concurrently, or work in European history. Assistant Professor USHER. M W F, 12, Goldwin Smith 264.

The topography and resources of England, the Industrial Revolution, commercial expansion in the 18th century, the history of the Bank of England, the rise of London as a world metropolis.

65b. Social and Economic Problems of the 19th Century in England. Second term, credit three hours. Prerequisite course 51, previously or concurrently. Assistant Professor USHER. M W F, 12, Goldwin Smith 264.

The course can be followed most profitably by students who have taken course 65a, but it may be elected independently. The history of English agriculture, 1700 to 1907; the poor laws, 1834 and 1909; the coming of free trade, 1776 to 1846; railroads and rate-making; Germany and the industrial supremacy of England.

66a. The Labor Problem. First term, credit three hours. Prerequisite course 51. Professor JOHNSON. T Th S, 11, Goldwin Smith 264.

This course will present a systematic view of the progress and present condition of the working class in the United States and in other industrial countries; sketch the history and analyze the aims and methods of labor organizations; study the evolution of institutions designed to improve the condition of the working class; and compare the labor legislation of the United States with that of European countries.

66b. Socialism. Second term, credit three hours. Prerequisite course 51. Professor JOHNSON. T Th S, 11, Goldwin Smith 264.

Due attention will be given in this course to the various forms of socialistic theory. Its main object, however, is to describe the evolution of the socialist movement and the organization of socialistic parties, to measure the present strength of the movement, and to examine in the concrete its methods and aims.

67. Problems in Market Distribution. Throughout the year, credit two hours a term. W F, 11, Goldwin Smith 245. Assistant Professor TURNER.

First term: lectures, discussions and assigned readings on the origin, growth and change of middlemen and other intermediaries between the producer and the consumer.
Second term: merchandising, selling, and advertising.

68. Railway Transportation. Second term, credit three hours. Prerequisite course 51. Professor YOUNG. T Th S, 11, Goldwin Smith 256.

The present American railway system, railway finance, theory of rates, methods of public control in Europe, Australia, and America. Some attention is given to the related problem of the control of public service companies.

70. Public Finance. Throughout the year, credit two hours a term. Prerequisite course 51. Assistant Professor BLAKEY. T Th, 12, Goldwin Smith 264.

A study of the principles of government revenue, expenditure and debt, with particular reference to problems of American taxation.

71. Investments. Throughout the year, credit two hours a term. Prerequisite course 51; course 58 should precede or may accompany this course. Dr. SMITH. T Th, 9, Goldwin Smith 245.

[73. Insurance. Second term, credit three hours. Prerequisite courses 51 and 58; or 58 may be taken at the same time. Assistant Professor BAUER.] Not given in 1914-15.

76a. Elementary Statistics. First term, credit three hours. Prerequisite course 51. Professor WILLCOX. T Th S, 9, Goldwin Smith 256. Laboratory, W, 2-4, Goldwin Smith 259.

An introduction to census statistics with especial reference to the federal census of 1910, and to registration statistics with especial reference to those of New York State and its cities. The course gives an introduction to the methods and results of statistics in these, its best developed branches.

76b. Economic Statistics. Second term, credit three hours. Prerequisite course 51. Professor WILLCOX. T Th S, 9, Goldwin Smith 256. Laboratory, W, 2-4, Goldwin Smith 259.

A continuation of course 76a, dealing mainly with the agricultural and industrial statistics of the United States. Mature students that have not already had course 76a or its equivalent may be admitted by special permission. The course is an introduction to statistics in its application to more difficult fields, such as production, wages, prices, and index numbers.

78a. International Law and Diplomacy. First term, credit three hours. President SCHURMAN and Assistant Professor SABY. M W F, 11, Goldwin Smith 256. Lectures, textbook, and reports. Open to juniors and seniors in Arts and Sciences, to students in Law, and to approved upperclassmen in other colleges.

While this course aims to present a systematic view of the rights and obligations of nations in times of peace and war, it particularly emphasizes our contemporary international problems and the participation of the United States in the development of international law.

78b. Constitutional Government. Second term, credit three hours. Prerequisite course 53a. Professor ORTH. M W F, 11, Goldwin Smith 256. Lectures, textbook, and reports.

A study of the development of the American constitutional system.

[79a. History of Political Thought. First term, credit two hours. Assistant Professor SABY.

A study in the development of political thought from the Greeks to modern times in its relation to the history and development of political institutions. Lectures, textbook, and assigned readings.] Not given in 1914-15.

79b. Modern Political Thought. Second term, credit three hours. Assistant Professor SABY. T Th S, 10, Goldwin Smith 256.

A general survey of the more important modern political movements. Ideas and ideals underlying the present political unrest. The different political ideas that have at different times striven for supremacy in American political life. Lectures, textbook, and assigned readings.

[80. The History of Protection and of Free Trade in Europe since 1660. First term, credit three hours. Prerequisite course 51; or open by special permission to those who have had courses in European history. Assistant Professor USHER.] Not given in 1914-15.

[81. The History of Price Making and the Growth of Produce Exchanges. Second term, credit three hours. Prerequisite course 51; open by special permission to those who have had courses in European history. Assistant Professor USHER.] Not given in 1914-15.

82. Public Utilities: Problems of Accounting, Valuation and Control. Second term, credit three hours. Assistant Professor BAUER. F, 2.30, Goldwin Smith 269.

This course will center about the accounting problems connected with the regulation of public service corporations, considering especially, with critical analysis, the systems of uniform accounting prescribed by the Interstate Commerce Commission and the New York and other state Public Service Commissions, and the principles of valuation adopted for rate making purposes. Open to graduates and by permission to especially qualified seniors.

 

87. The History of Economic Theory. Throughout the year, credit three hours a term. Professor JOHNSON. T Th S, 9, Goldwin Smith 264.

The main currents of economic theory from the mercantilistic writers to the present day. Chief emphasis will be laid upon the development of the individualistic economic doctrines in 18th century France and England; the conditions, economic and social, upon which they were based; the consolidation of the doctrines in classical economics, and the modifications they have undergone.

88. Value and Distribution. Throughout the year credit, two hours a term. Professor JOHNSON. Th, 2.30, Political Science Seminary Room.

A study of the chief problems of current economic theory. The works of the chief contemporary authorities will be critically studied with a view to disclosing the basis of existing divergences in point of view.
It is desirable that students registering for this course should have a reading knowledge of German and French.

90. Research in Statistics. Throughout the year, credit to be arranged. Professor WILLCOX.

92. Research in Finance. Throughout the year, credit two or three hours a term. Professor YOUNG. T, 2.30, Political Science Seminary.

Individual or cooperative investigations of selected problems in money, banking, and corporation finance, in connection with lectures upon the bibliography of the sources and upon the use of the statistical method in such investigations.

93. Research in Accounting. Throughout the year, credit two to three hours a term. Prerequisite course 58. Assistant Professor BAUER. Hours to be arranged.

For especially qualified students interested in particular accounting problems.

94. Research in Politics. Throughout the year, credit one to three hours a term. Professor ORTH. Hours and room to be arranged.

A research course for advanced students in public law and political science.

95. Seminary in Political Science and Public Law. Throughout the year, credit two hours a term. Professor ORTH. W, 2.30, Political Science Seminary.

An advanced course for the study of some special topic to be announced. Open to especially qualified students by permission of the professor in charge.

99. General Seminary. Throughout the year, credit two hours a term. Conducted by members of the department. M, 2.30-4.30, Goldwin Smith 269.

For research in the field of political sciences. Open only to graduate students.

 

Source: Official Publications of Cornell University, Vol. V, No. 10: Announcement of the College of Arts and Sciences, 1915-15, pp. 29-34.

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[Cornell Faculty offering courses in Political Science 1914-15]

 

Bauer, John, A. B., Yale, 1906; Ph.D.,1908; Leave of Absence, 1914-15.

Instructor, 1908; Assistant Professor of Economics, 1910.

Blakey, Roy Gillespie, A.B., Drake, 1905; A.M., Colorado, 1910; Ph.D., Columbia, 1912.

Assistant Professor of Economics, 1912.

English, Donald, B.S., University of California; M.B.A., Harvard, 1914.

Acting Assistant Professor of Economics, 1914.

Gilman, Frederick Hubert, A.B., Wesleyan, 1909; A.M., Cornell, 1910.

Instructor of Economics.

Johnson, Alvin Saunders, A.B., Nebraska; A.M., 1898; Ph.D., Columbia, 1902.

Professor of Economics, 1912.

Kimball, Dexter Simpson, A.B., Leland Stanford, 1896; M.E., Leland Stanford.

Assistant Professor, 1898-1901; Acting Director of Sibley College, second term, 1911-12; Professor of Machine Design and Construction, 1904.

Lauman, George Nieman, B.S.A., Cornell, 1897.

Assistant in Horticulture, 1897; Instructor, 1899; Instructor in Rural Economy, 1903; Assistant Professor, 1905; Professor of Rural Economy, 1909.

Orth, Samuel Peter, A.B., Oberlin, 1896; Ph.D., Columbia, 1902.

Acting Professor, 1912, Professor of Political Science, 1913.

Saby, Rasmus S., A.B. Minnesota, 1907; A.M. 1907; Ph.D., Pennsylvania, 1910.

Assistant, 1909; Instructor in Economics. 1910, Assistant Professor of Political Science, 1912.

Schurman, Jacob Gould, A.B., University of London, 1877; A.M., 1878; D.Sc., University of Edinburgh, 1878; LL.D., Columbia, 1892; Yale, 1901; Edinburgh, 1902; Williams, 1908; Dartmouth, 1909; Harvard, 1909.

Professor of Philosophy, 1886. President of the University, 1892.

Smith, Harry Edwin, A.B., De Pauw, 1906; A.M., 1906; Ph.D., Cornell, 1912.

Instructor of Economics.

Turner, John Roscoe, M.S., Ohio Northern, 1903; Ph.D., Princeton, 1913.

Assistant, 1908; Instructor, 1909; Lecturer, 1911, Assistant Professor of Economics, 1913.

Usher, Abbott Payson, A.B., Harvard, 1904; A.M., 1905; Ph.D., Ph.D., 1910.

Instructor, 1910. Assistant Professor of Economics, 1914.

Willcox, Walter Francis, A.B., Amherst, 1884; LL.B., A.M., Amherst, 1888; LL.D., Amherst, 1906; Ph.D., Columbia, 1907.

Instructor in Logic, 1891; Assistant Professor of Social Science and Statistics and Political Economy, 1892; Assistant Professor of Social Science and Statistics, 1893; Associate Professor, 1894; Professor, 1898; Professor of Political Economy and Statistics, 1901; Dean of the Faculty of Arts and Sciences. 1901-07; Professor of Economics and Statistics, 1910.

Young, Allyn Abbott, Ph.B., Hiram College, 1894; Ph.D., Wisconsin, 1902.

Professor of Economics and Finance, 1913.

 

Sources: Official Publications of Cornell University, Vol. V, No. 10: Announcement of the College of Arts and Sciences, 1914-15, pp. 29-34. Supplementary information from The Cornellian, The Year Book of Cornell University. Vol. XLVII.

Image Source: Goldwin Smith Hall, illustration between pages 36 and 37. Guide to the Campus: Cornell University (1920).

 

Categories
Courses Curriculum Stanford

Stanford. Early Economics Courses and Faculty, 1890s

It took about three years (1891-92 to 1893-94) for the Leland Stanford Junior University to put together full course offerings in economics and social science. In today’s posting I have included the first three years of official announcements along with c.v. information of the faculty involved. Note that the listing for the academic year 1892-93 is merely a declaration of intention, I have yet to find what was actually offered. I would presume it looks much more like what we see for the announcement for 1893-94 than the extremely meager pickings for 1891-92.

Continue reading “Stanford. Early Economics Courses and Faculty, 1890s”
Categories
Courses Harvard

Harvard. Political Economy Courses, 1888-89

We saw in an earlier posting that political economy was a one-professor affair with Charles Franklin Dunbar doing virtually all the economics teaching at Harvard in 1874-75.

Over a decade later in 1888-89, Dunbar is still at it with young Frank Taussig and two junior instructors expanding the Harvard economics course offerings. It is interesting to note that “Coöperation , Socialism” are included in a list of topics that include now standard fields Money, Finance (i.e. Banking), Taxation and “Labor and Capital” (i.e., labor economics, income distribution).

 

_______________________________

Political Economy.
[Harvard, 1888-1889]

  1. First half-year: Mill’s Principles of Political Economy.—Dunbar’s Chapters on Banking.
    Second half-year: Division A (Theoretical): Mill’s Principles of Political Economy.—Cairnes’s Leading Principles of Political Economy. Division B (Descriptive): Topics in Money, Finance, Labor and Capital, Coöperation, Socialism and Taxation. , Wed., Fri., at 9. Asst. Professor Taussig, Messrs. Gray and F. C. Huntington.
    All students in Course 1 will have the same work during the first half-year, but will be required in January to make their election between divisions A and B for the second half-year. The work in division A is required for admission to Courses 2 and 3.
  2. History of Economic Theory.—Examination of selections from Leading Writers.—Lectures. , Wed., (at the pleasure of the Instructor), and Fri., at 2. Asst. Professor Taussig.
  3. [Omitted in 1888-89.] Investigation and Discussion of Practical Economic Questions.—Short theses. , Th., at 3, and a third hour to be appointed by the Instructor.
  4. Economic History of Europe and America since the Seven Years’ War.—Lectures and written work. , Wed., Fri., at 11. Mr. Gray.
    Course 4 requires no previous study of Political Economy.
  5. [Omitted in 1888-89.] Economic Effects of Land Tenures in England, Ireland, France, and Germany.—Lectures and theses. Half-course. Once a week.
  6. History of Tariff Legislation in the United States. Half-course. Tu., Th., at 2, and a third hour at the pleasure of the Instructor (second half-year). Professor Taussig.
  7. Taxation, Public Debts, and Banking. , Wed., Fri., at 3. Professor Dunbar.
  8. History of Financial Legislation in the United States. Half-course. Tu., Th., at 2, and a third hour at the pleasure of the Instructor (first half-year). Professor Dunbar.
    It is recommended that Courses 6 and 8 be taken together.
  9. Management and Ownership of Railways. Half-course. Tu., Th., at 10, and a third hour at the pleasure of the Instructor (second half-year). Gray.

As a preparation for Courses 2, 3, 5, 6, 7, 8, and 9 it is necessary to have passed satisfactorily in Course 1.

  1. Special Advanced Study and Research.—In 1888-89, competent students may pursue special investigations of selected topics under the guidance of any one of the Instructors.

Course 20 is open only to graduates, to candidates for Honors in Political Science, and to Seniors of high rank who are likely to obtain Honorable Mention in Political Economy. It may be taken either as a full course or as a half-course, as may be determined by the Instructor concerned.

 

Source: Harvard University. Announcements of Courses of Instruction provided by the Faculty of Harvard College for the Academic Year 1888-89. Cambridge, May 1888. pp. 18-19.

Image Source: Statue of John Harvard ca. 1891, Library of Congress Prints and Photographs Division, Washington, D.C.

Categories
Courses Harvard Syllabus

Harvard. O.H. Taylor’s undergraduate course, Intellectual Background of Economic Thought, 1941

 

 

Starting in the academic year 1940-41, Harvard’s advanced undergraduate honors course in economic theory (Economics 1) was split into two semester courses Economics 1a (Chamberlin: Economic Theory) and 1b (This post. Taylor: Intellectual Background of Economic Thought). The last time Economics 1 was offered as a year course (1939-40), it was taught by Professor Chamberlin, Associate Professor Leontief and Instructor O.H. Taylor. Two years later, 1941-42, the second semester course 1b was taught by Professor Haberler and Associate Professor Leontief under the title “Theory of Production and Distribution of the National Income”. In 1942-43, Economics 1b as “Theory of Production and Distribution of the National Income” was taught a last time by Professor Leontief and Dr. Monroe.

Only for the second semester of 1940-41 was Dr. Overton Hume Taylor to offer Economics 1b according to the syllabus transcribed for this posting. Not a mover and shaker within the Harvard economics department, he was clearly a serious scholar-economist, though out of step with the economics profession of his day. Most historians of economics will recognize a soulmate in Taylor.

Overton Hume Taylor (1897-1987) was born in Colorado, received his B.A. at the University of Colorado in 1921 and Ph.D. from Harvard in 1928. He held the rank of instructor 1929-1960, promoted to professor, 1960-64. He retired from Harvard in 1964, going on to teach at Vanderbilt University.

Here is a link to Taylor’s A History of Economic Thought (1960). 

Recent addition: the final examination questions for “The Intellectual Background of Economic Thought” from the Spring term of 1940-41. 

______________________________________

[Course Listing]

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.

 

Source: Harvard University. Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year 1940-41, Second Edition, p. 55.

______________________________________

[Course Enrollment]

[Economics] 1b 2hf. Dr. O. H. Taylor.—The Intellectual Background of Economic Thought.

14 Juniors, 1 Sophomore:   Total 15.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1940-41, p. 58.

______________________________________

 

Economics 1b

The Intellectual Background of Economic Thought

Reading, Lectures, and Discussions. February – May, 1941

 

Read during semester

G. H. Sabine: A History of Political Theory

 

During February

Morris Cohen: Reason and Nature, pp.
A. N. Whitehead: The Function of Reason
Carl Becker: The Heavenly City of the 18th C. Phil’s
O. H. Taylor: Two Articles, Econ. and Nat. Law, Q.J.E. vol. 44, p. 1 and 205.

 

During March

Crane Brinton: The Pol. Ideas of the Eng. Romanticists
Othmar Spann: A History of Econ. Theory
Sidney Hook: The Meaning of Marx
and others

 

During April

Crane Brinton: Eng. Pol. Thought in the 19th Cent. Sections (see Table of Contents) on Bentham, Coleridge, Mill, Cobden, Carlyle, Bagehot, T.H. Green, Spencer.
Alexander Gray: The Development of Econ. Doctrine
R. G. Tugwell and Others: The Trend of Economics. Chapters by Mitchell, Tugwell, Wolfe, Clark, and Knight
Henry Simons: A Positive Program for Laissez-Faire

 

Lectures and Discussions

February 3. Introductory Lecture. Ideologies and Economics. Classical Economics and Liberalism, Marxism, Romantic Nationalism, Modern Liberalism and Positivism. General Background of Intellectual History. Beginnings of Modern Science, Liberalism, Positivism, and Romanticism.
February 5. Lecture. A Criticism of the Economic Interpretation of History.
February 7. Class Discussion of Two Previous Lectures.
February 10. Lecture. Classical Economics and the Moral Basis of Free Enterprise Liberalism.
February 12. Lecture. The Defects of the Old Liberalism, and the Present Crisis.
February 14. Class Discussion of Two Previous Lectures.
February 17. Lecture. Western Positivism and German Romanticism.
February 19. Lecture. Western Positivism and German Romanticism – continued.
February 21. Class Discussion.
February 24. Lecture. The Origins of Positivism and the Mechanistic Cosmology and Sociology.
February 26. Lecture. Teleology and Mechanism, Moral and Natural Science, Mediaeval and Modern Phil.
February 28. Class Discussion.
March 3. Lecture. The Transition from the Moral to the Social Sciences. Ambiguities in the Transition Period. Classical Economics and Liberalism.
March 5. Lecture. The recent Growth of Pure Positivism, and the Change in Liberalism.
March 7. Class Discussion.
March 10. Lecture. The Origins and Nature of the Romantic Movement.
March 12. Lecture. Kant, and Romanticism in German Philosophy and Social Science.
March 14. Class Discussion.
March 17. Lecture. Adam Mueller, Frederich List, and the Historical School: Organicism, Nationalism, and Historical Relativity.
March 19. Lecture. Spiritual-Cultural Science, Culture Epochs; Sombart and Weber; Spann and the Nazis.
March 21. Class Discussion.
March 24. Lecture. The Backgrounds of Marx: Utopian Socialism, Classical Economics, and Hegel. Contributions of Each.
March 26. Lecture. The Essentials of Marxism, and its Relations to the Liberal and Romantic Traditions.
March 28. Class Discussion.
April 7. Lecture. The Physiocrats and Adam Smith. Economic Self-Interest and a Moral, Social Order.
April 9. Lecture. Utilitarianism and Classical Economics.
April 11. Class Discussion.
April 14. Lecture. Ricardian Economics, Utility Economics, and Mathematical Economics.
April 16. Lecture. Marginal Productivity and Distributive Justice.
April 18. Class Discussion.
April 21. Lecture. Monopolistic Competition and its Implications for Public Policy.
April 23. Lecture. The Positivist—and—Modern-Liberal Trend in Monetary and Cycle Theory. J. M. Keynes.
April 25. Class Discussion.
April 28. Lecture. Capitalism, Democracy, Class Struggle, and Liberalism.
April 30. Lecture. Economic Planning in a Free Society.
May 2. Class Discussion.

______________________________________

Reading Period
May 5-27, 1941

Economics 1b:   Read the following:

Robbins, Nature and Significance of Economic Science.

______________________________________

Source: Harvard University Archives (HUC 8522.2.1). Syllabi, course outlines and reading lists in Economics, 1895-2003: Box 2. Folder “1940-41”.

Image Source: Harvard Album, 1952.

Categories
Courses Harvard

Harvard. Economics students petition for Karl Marx course. 1938

 

 

In the artifacts posted here we see how student demand for a course on Marxian economics at Harvard that had been dropped for the academic year 1938-39 resulted in the course being offered.

Three of the undersigned went on to receive Ph.D.’s in economics at Harvard:

  • Alexander, Sidney Stuart.D. 1946. Financial structure of American corporations since 1900.
  • Carlson, Reynold Erland.D. 1946. Block grants and central-local financial relations in Great Britain.
  • Vandermeulen, Daniel Carlson.D. 1947. Dissertation: Technological change in the paper industry—the introduction of the sulphate process.

A draft outline of the course exists in Wassily Leontief’s papers and has been transcribed at Economics in the Rear-View Mirror.

__________________________________

[Economics 117 Course Listing 1st edition, 1938-39]

[Economics 117 1hf. Karl Marx]

Half-course (first half-year). Mon., 4 to 6. Asst. Professor Leontief.
Omitted in 1938-39.

Source: Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences during 1938-39 (1st edition, p. 150.

__________________________________

[Student petition to “unbracket” Economics 117]

[typed] We, the undersigned, observe that Economics 117 is bracketed in the Course Catalogue for 1938-39, and we understand that the reason for this is the very small election that the course has received in past years. We should like to signify our desire to take Economics 117 next year, and we hope that this indication of a sizable demand will induce the competent authorities to reconsider the advisability of offering the course in the year 1938-39.

[signed] S. S. Alexander
[signed] D. C. Vandermeulen
[signed] Wm. Glazier
[signed] David Feller
[signed] R. E. Carlson
[signed] John D. Wilson

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950 (UAV.349.10). Box 23, Folder “Course Offerings 1937-39-42”

__________________________________

[Economics 117 Course Listing 2nd edition, 1938-39]

Economics 117 1hf. Karl Marx

Half-course (first half-year). Mon., 4 to 6. Asst. Professor Leontief and Dr. P. M. Sweezy.

Source: Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences during 1938-39 (2nd edition). Official Register of Harvard University, Vol. 35, No. 42 (September 23, 1938), p. 150.

__________________________________

[Economics 19 Course Enrollment, 1935-36]

[Economics] 19 1hf. Associate Professor Mason and Asst. Professor Leontief. –Karl Marx.

1 Radcliffe, 35 auditors. Total 36.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1935-36, p. 83.

__________________________________

[Economics 117 Course Enrollment, 1936-37]

[Economics] 19 1hf. Associate Professor Mason and Asst. Professor Leontief. –Karl Marx.

1 Graduate, 1 Senior. Total 2.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1936-37, p. 93.

__________________________________

[Economics 117 not offered 1937-38]

__________________________________

[Economics 117 Course Enrollment, 1938-39]

[Economics] 117 1hf. Asst. Professor Leontief and Dr. P. M. Sweezy. –Karl Marx.

4 Graduates, 4 Seniors. Total 8.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1938-39, p. 99.

__________________________________

[Economics 117 not offered 1939-40]

__________________________________

 

 

Categories
Courses Economists Harvard

Harvard. Mathematical Economics Rescheduled. Petitions, E. B. Wilson, 1935

One of the iron statistical laws of scheduling classes is that the probability of finding a Pareto improvement to a scheduling conflict ex post semester-start rapidly tends to zero with the size of the class that needs to be rescheduled. Here is a case of one such rare Pareto-improvement.

For the second semester of the academic year 1934-35 at Harvard E. B. Wilson’s Mathematical Economics rescheduled to eliminate the conflict with Fritz Machlup’s Money and Banking course.

What happens to make this particular case interesting in the history of economics is the list of distinguished (ex post) names among the undersigned of three foreign visitors to Harvard, namely Oskar Lange, Nicholas Georgescu, and Gerhard Tintner along with the graduate student Wolfgang Stolper and the undergraduate Sidney S. Alexander.

Six of the undersigned went on to receive Harvard Ph.D.’s in economics, they were:

  • Sidney Stuart Alexander.D. 1946. Financial structure of American corporations since 1900. (note: Harvard S.B. 1936, so undergraduate)
  • James Pierce Cavin, 1938 Ph.D. The sugar quota system of the United States, 1933-1937.
  • Wolfgang Stolper, 1938 Ph.D. British monetary policy and the housing boom, 1931-1935
  • Albert Leonard Meyers, 1936 Ph.D. Future trading on organized commodity exchanges
  • Chih-Yu Lo, 1937 Ph.D. A statistical study of prices and markets for electricity
  • Wilfred Malenbaum, Ph.D. 1941. Equilibrating tendencies in the world wheat market.

_______________________________________

[Memo: Econ. Chair to Dean, Carbon copy]

February 7, 1935

Dear Dean Murdock,

Because of the conflict of Economics 13b (Mathematical Economics) and Economics 50 (Principles of Money and Banking), which are scheduled for 3:00 on Tuesday and Thursday, Professor Wilson has requested that the hour for Economics 13b be changed to 2:00 on Tuesday and Thursday. I understand from Miss Higgs that rooms are available at this hour. The students registered in the course agree to this change.

I shall appreciate it if the change can be arranged before the next meeting of the class on Tuesday.

Sincerely yours,

H. H. Burbank

 

Dean Kenneth B. Murdock
20 University Hall

_______________________________________

 

[Memo: Dept. Secretary to E. B. Wilson, Carbon copy]

February 5, 1935

Dear Professor Wilson,

Dr. Machlup tells me that because of the conflict of Economics 13b and 50 you are willing to change the hour of meeting Economics 13b to 2:00 on Tuesday and Thursday. Until I am sure that the students who are taking the course for credit are agreeable, I cannot notify Dean Murdock of this change.

The simplest way to do this, I think, is for you to ask the class at its meeting on Thursday. There will be no trouble, I am sure, about securing a room at that hour. If you will let me know the outcome as soon as possible, I will make the necessary arrangements at the office.

Sincerely yours,

Secretary

 

Professor E. B. Wilson
55 Shattuck Street
Boston, Massachusetts

_______________________________________

[Petition signed by students/auditors in Econ 13b]

[Penciled in upper right: “Econ 13b]

[typed] We should like to attend both, unfortunately conflicting, courses: Economics 13b (Mathematical Economics) and Economics 50 (Money and Banking). It would be much appreciated if a change in schedule could be arranged.

[signed] Oskar Lange
[signed] Nicholas Georgescu
[signed] Gerhard Tintner

[added in handwriting] We also, though not taking Ec. 50, would be willing to change hours.

[signed] S. S. Alexander

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950 (UAV.349.10). Box 23, Folder “Course Offerings 1932-37-40”.

_______________________________________

[Petition signed by students/auditors in Econ 50]

[Penciled in upper right: “Econ 50]

[typed] We should like to attend both, unfortunately conflicting, courses: Economics 13b (Mathematical Economics) and Economics 50 (Money and Banking). It would be much appreciated if a change in schedule could be arranged.

[signed] W. Stolper
[signed] J. P. Cavin
[signed] A. L. Meyers
[signed] C. Y. Lo
[signed] T. Y. Wu [?]
[signed] S. Bolts [?]
[signed] P. Chanten [?]
[signed] W. Malenbaum

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950 (UAV.349.10). Box 23, Folder “Course Offerings 1932-37-40”.

_______________________________________

[Economics 13b: Course enrollment]

[Economics] 13b 2hf. Professor E. B. Wilson.—Mathematical Economics.

2 Graduates, 1 Junior. Total 3

 

[Economics] 50. Professors Williams and Dr. Machlup-Wolf.—Principles of Money and Banking.

16 Graduates., 10 Seniors, 1 Junior, 8 Radcliffe. Total 35.

 

Source: Annual Report of the President and the Treasurer of Harvard College 1934-35, pp. 81-2.