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Exam Questions Harvard

Harvard. Economics and Social Ethics Semester Examinations, 1895-96

 

Professor Charles Dunbar had a leave of absence for the 1895-96 academic year at Harvard. His courses on public finance were taught by Dr. John Cummings and Dr. J.A. Hill. Professor Frank Taussig returned from his year leave of absence for 1894-95 and taught (among other courses) the history of financial institutions, Dunbar’s second field of specialization.

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1895-96.
The Ethics of the Social Questions.

Course Enrollment for Philosophy 5

For Graduates and Undergraduates:—

[Philosophy] 5 . Professor Peabody. — The Ethics of the Social Questions. — The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question in the light of ethical theory. — Lectures, special researches, and required reading. 3 hours.

Total 88: 7 Graduates, 49 Seniors, 12 Juniors, 2 Sophomores, 18 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 60.

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Mid-Year Examination

1895-96.
PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.

[This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limit should be given to each answer as will permit the answering of all the questions in the time assigned.]

  1. What is meant by;

Exogamy;
Marriage by capture;
The Patriarchal theory;
“The family is the unit of civilization”?

  1. The stability of the family as affected by:

(a) city life.
(b) the conflict of State laws.
(c) the philosophy of individualism.
(d) the philosophy of collectivism.

  1. Spencer’s view of the regime of the family in relation to the regime of the State (Principles of Sociology I, 707 pp.), with criticisms.
  2. The distribution of wealth in Great Britain or in the United States, statistically illustrated; and its lessons,
  3. Illustrate the indirect economic value of judicious charity.
  4. Charles Booth’s Class B in East London; its character, dimensions, relation to the general problem of poverty, and suggested treatment. Life and Labor of the People, I, 39-44; 162-169.)
  5. The new inquiry undertaken by Mr. Charles Booth (Vol. V and VI, 1895); its relation to the preceding researches and its confirmation of earlier results.
  6. “What is good in the poor-administration of Germany is due to good citizenship. … We have not citizenship enough to administer it.” (C. S. Loch, Parliamentary Report of 1888, p. 88.) Compare, in the light of this comment, the English and German theories of municipal relief.
  7. The influx to the great cities in its effect on methods of poor-relief.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.

[This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limit should be given to each answer as will permit the answering of all the questions in the time assigned.]

  1. Explain and illustrate, briefly, what is meant by:

“The social questions are ethical questions.”
“The correlation of the social questions.”

  1. The doctrines of social progress in Carlyle and in Ruskin compared in their bearing on the modern industrial situation.
  2. Consider the principle of social labour-time as the standard of value:

(a) Mr. Ruskin’s theory of value;
(b) The plan proposed by scientific socialism (Schäffle, p. 81);
(c) Schäffle’s criticism of this view (ch. VI., VII.);
(d) Your own judgment.

  1. “Socialism has no necessary affinity with any forms of violence, or confiscation, or class selfishness, or financial arrangement. … The aim of socialism is the fulfilment of service; the aim of individualism is the attainment of some personal advantage, riches, or place, or fame.” — Bishop Westcott.
    “Socialism, as I understand it, is any theory of social organization which sacrifices the legitimate liberties of individuals to the will or interest of the community.” — Professor Flint.
    Which of these definitions appears to you more justified by the history and tendency of socialism? What do you understand to be the “quintessence” of socialism?
  2. The economic and ethical criticisms commonly urged against the programme of collectivism, and your estimate of their importance.
  3. The ethical place and lessons of:

Anarchism;
Communism;
Arbitration.

  1. Compare the plans of industrial unity illustrated by the Anzin collieries, the Val-des-Bois Mill, and the Hebden Bridge Mill.
  2. The coöperative movement in Great Britain, its principles, its expansion, and the conditions of success for the system in this country. In federalistic coöperation what should be, in your judgment, the principle of distributing the bonus?
  3. The polities and the ethics of the Maine liquor law (Fanshawe, VII.)

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
Outlines of Economics.

Course Enrollment for Economics 1

Primarily for Undergraduates:—

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours.

Total 338: 3 Graduates, 35 Seniors, 91 Juniors, 161 Sophomores, 8 Freshmen, 40 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

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Mid-Year Examination

1895-96.
ECONOMICS 1.

  1. Is all wealth produced by labor?
  2. Compare the distinction between fixed and circulating capital with the distinction between auxiliary and remuneratory capital; and state why one or the other distinction is the more satisfactory.
  3. Are differences in profits from employment to employment similar in kind to differences in wages from occupation to occupation?
  4. In what way are differences of wages affected by the absence of effective competition between laborers? by its presence?
  5. What are the grounds for saying that rent is a return differing in kind from interest?
  6. Trace the effects of an issue of inconvertible paper money, less in quantity than the specie previously in use, on (1) the circulation of specie, (2) the foreign exchanges, (3) the relations of debtor to creditor.
  7. State Mill’s reasoning as to the mode in which, under a double standard, one metal is driven from circulation; and explain how the actual process differs from that analyzed by Mill.
  8. What are the grounds for saying that the gain of international trade does not come from the sale of surplus produce beyond the domestic demand?
  9. In what manner is the price of landed property affected by an increased quantity of money? by a rise in the rate of interest?
  10. Wherein does monopoly value present a case different from that of the usual operation of the laws of value?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
ECONOMICS 1.

[Answer ten questions. Arrange your answers strictly in the order of the questions.]

GROUP I.
[At least one.]

  1. Explain the meaning of two of the following terms, — margin of cultivation; wages of superintendence; rapidity of circulation (as to money).
  2. Do profits constitute a return different from interest?
  3. Explain what is meant by the law, or equation, of demand and supply; and in what manner it applies to commodities susceptible of indefinite multiplication without increase of cost.
  4. In what manner does a country gain from the division of labor in its domestic trade? In what manner from international trade?

GROUP II.
[At least one.]

  1. Does it fall within the province of the economist to discuss the institution of private property?
  2. Show the connection between the industrial development of the present century, and the discussion among economists as to the functions of the entrepreneur.
  3. Consider in what manner prices, or rents, [choose one] are differently determined according as they are under the influence of custom or of competition.
  4. “The idea that economic life has ever been a progress mainly dependent on individual action is mistaken with regard to all stages of civilization, and in some respects it is the more mistaken the farther we go back.” Explain and criticize.

GROUP III.
[At least one.]

  1. If coöperation were universally adopted, what would be left of the wages system?
  2. Is there anything in what you learned as to the laws governing wages, which the action of the English trade-unions in regard to wages has disregarded?
  3. Has the course of events justified Mill’s expectations in regard to the development of profit-sharing and of cooperation? Explain why, or why not.
  4. Describe the trade and benefit features of the English trade-unions.

GROUP IV.
[At least three.]

  1. Is the present position of the Treasury of the United States in any respect essentially similar to that of the Issue Department of the Bank of England? In any respect essentially dissimilar?
  2. What is the test of over-issue, as to inconvertible paper money? What light does the experience of the United States and of France throw on the probability of over-issue?
  3. Arrange in their proper order the following items in a bank account:
Capital 100,000 Bonds and Stocks 75,000
Specie 150,000 Surplus 50,000
Notes 100,000 Other Assets 50,000
Loans 400,000 Other Liabilities 60,000
Expenses 25,000 Undivided Profits 40,000
Deposits 350,000

Could this bank be a national bank of the United States? If such a bank, how would the account stand?

  1. Compare the policy of the Bank of England in times of financial crisis with the policy of the Associated Banks of New York; and give an opinion as to which is the more effective in allaying panic.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
Economic Theory from Adam Smith to the present time.

Course Enrollment for Economics 2.

For Graduates and Undergraduates:—

[Economics] 2. Professors Ashley and Macvane. — Economic Theory from Adam Smith to the present time. — Selections from Adam Smith and Ricardo. — Modern Writers. —Lectures. 3 hours.

Total 37: 5 Graduates, 14 Seniors, 7 Juniors, 4 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

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Mid-Year Examination.

1895-96.
ECONOMICS 2

N.B. — Not more than seven questions must be attempted.

  1. Compare the Aristotelian conception of Wealth with that of modern economists.
  2. Explain the growth, in the later Middle Ages, of the theory of “Interest.”
  3. Consider briefly the claims to consideration, in the history of economic thought, of Nicholas Oresme and Antoine de Montchrétien.
  4. “It was reserved for the eighteenth century to let in the grand idea of necessity, and to prove that the rate of wages established in a country was the inevitable consequence of the circumstances in which that country was placed, and had no connection with the wishes of any individual, or, indeed, with the wishes of any class.” (Buckle, History of Civilization.) Consider this.
  5. Explain the “plan” of the Wealth of Nations, and consider how far it agrees with the contents of the work.
  6. State and discuss Adam Smith’s doctrine of the Component Parts of Price.
  7. “A man must always live in his work.” Discuss the accuracy of this proposition, and the use made of it by Adam Smith and later economists.
  8. The effect upon English economists in the seventeenth and eighteenth centuries of their observation of the United Netherlands.
  9. “Every candid reader knows that Mr. Malthus laid no stress on his unlucky attempt to give numerical precision to things which do not admit of it, and every person capable of reasoning must see that it is wholly superfluous to his argument.” (Mill). Consider this.
  10. With what justice can socialists claim the authority of Ricardo for their “iron law of wages”?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
ECONOMICS 2.

Take any three of the five questions.

  1. State your conclusions regarding the various definitions of Cost of Production. Are wages an element in Cost? Show whether economic cost and commercial (or employers’) cost may vary independently of each other.
  2. State briefly the views of Henry George, Marshall, and Boehm-Bawerk (or any other three writers) regarding the law of Interest. Give also your own conclusions.
  3. Set down carefully your conclusions as to the source and the law of Wages. Examine at least one opposing view.
  4. Explain and examine the Marginal Utility theory of Value. How is it reconciled with the observed connection between value and cost?
  5. Is a high level of wages in a country an obstacle to foreign trade?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
The Principles of Sociology.

Course Enrollment for Economics 3.

For Graduates and Undergraduates:—

[Economics] 3. Asst. Professor Edward Cummings. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 2 hours.

Total 37: 8 Graduates, 21 Seniors, 6 Juniors, 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

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Mid-Year Examination.

1895-96.
ECONOMICS 3.

(Arrange your answers in the order of your questions. Omit one.)

  1. “Hence, in this case we may assert clearly that when the individual is removed the social ceases to be, and that there is absolutely nothing in society which does not exist in a state of subdivision and continual repetition in the living individuals, — or which has not existed in the dead ancestors from whom the living proceed.” Explain carefully. Compare this conception of society with the “social organism” conception, and state clearly your own views.
  2. What do you conceive to have been the habits and characteristics of primitive man in “a state of nature”? Discuss the evidence presented by Westermarck, Spencer, and others.
  3. “In a word, the physiological bond, which of old constituted the main foundation of the small domestic societies, then of the tribes, then of the ancient cities, is still the essential foundation of the great nations of today.” Explain carefully. What according to Spencer, have been the merits and defects of the various forms of family organization? What are the present tendencies?
  4. “Entangled and confused with one another as Ceremonial and Fashion are, they have thus different origins and meanings.” Explain. Trace carefully the significance of these differences, and give examples.
  5. “Class distinctions, then, date back to the beginnings of social life.”
  6. In what order have political institutions evolved? What have been the chief determining factors?
  7. “M. Alfred Fouillée has endeavored to express the truth of both ways of regarding society by saying that the highest form of it must be an ‘organism contractuel,’ — a formula that may perhaps gain more general acceptance than anything expressed in the phraseology of German idealism.” Explain carefully.
  8. Discuss the views of Spencer and of Comte in regard to the scope of sociology and its relation to other sciences

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

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Final Examination

1895-96.
ECONOMICS 3.

Answer the questions in the order in which they stand. Give one hour to each division.

I.

A critical estimate of Giddings’ Principles of Sociology, — contrasted (a) with Spencer, (b) with Tarde.

II.

A critical estimate of Evolution and Effort, — contrasting it with views set forth in Social Evolution.

III.

The bearing of sociological theory upon the practical problems of (a) poverty, (b) pauperism, (c) crime.
Which of the books read during this half-year (and not already discussed) has seemed to you of greatest worth? Why?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
The Theory of Statistics.

Course Enrollment for Economics 42.

For Graduates and Undergraduates:—

[Economics] 42. Dr. John Cummings. — The Theory of Statistics. — Applications to Social and Economic Problems. — Studies in movements of Population. Hf. 3 hours. 2d half year.

Total 19: 2 Graduates, 11 Seniors, 4 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

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Final Examination

1895-96.
ECONOMICS 4.

(Divide your time equally between A and B.)

A
I and II may be treated as one question.

  1. What do you understand by “movement of population”? What light do Statistics throw upon the law of population as stated by Malthus?
  2. What are some of the “more striking facts and more pregnant results of the vast growth of population in Europe, America, and the British Colonies within the last half century”?

B.
Take five.

  1. In constructing a life table what correction must be made for abnormal age and sex distribution of the population?
  2. Define the following terms: “Mortality,” “Expectation of Life,” “Mean Duration of Life.” How should you calculate the mean duration of life from the census returns for any community?
  3. How should you calculate the economic value of a population?
  4. What are some of the inaccuracies to which censes enumerations are liable?
  5. What is the nature of a statistical law? of what categories of social phenomena may statistical laws be formulated? in what sense are they laws? How do they bear upon freedom of the will in human conduct?
  6. How do the conditions of observation in social sciences differ from conditions of observation in the natural sciences?
  7. What do you understand by the law of criminal saturation?
  8. By what considerations should the Statistician be guided in in making selection of social phenomena for investigation?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
Railway Transportation.

Course Enrollment for Economics 51.

For Graduates and Undergraduates:—

[Economics] 51. Professor Taussig. — Railway Transportation. — Lectures and written work. Hf. 3 hours. 1st half year.

Total 43: 6 Graduates, 27 Seniors, 7 Juniors, 3 Law.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

 

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Final Examination

1895-96.
ECONOMICS 5.

  1. The means of transportation in the United States in 1855.
  2. Is there historical warrant for the assertion that in United States the construction and operation of railways have been left mainly to private enterprise?
  3. The resemblances and differences between the legislation of Iowa on maximum rates, and that of England.
  4. Are there good grounds for alarm at the tendency to consolidation and the growth of great systems among railways?
  5. “There was never a more mistaken idea than the idea that rates would be reduced if they were based on cost of service. The principle keeps rates up. If it is strictly applied, it makes it necessary that each item of business should pay its share of fixed charges.” Why? or why not?
  6. “It is not true that when the price falls below cost of production, people always find it for their interest to refuse to produce at a disadvantage. It very often involves worse loss to stop producing than to produce below cost.” Why and how, as to railways?
  7. The provisions of the Interstate Commerce Act which bear on

an agreement to maintain certain rates;
an agreement to divide earnings;
a lower rate for one hundred carloads than for one carload;
a postage-stamp rate;
a higher rate for a shorter than for a longer distance.

  1. Does the history of pooling arrangements in the United States justify the assertion that they tend to remove inequalities in the rates to shippers?
  2. The lessons of public railway management in Italy and in France.
  3. The evidence as to the financial and economic success of public railway management in Prussia.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
History of Tariff Legislation in the United States.

Course Enrollment for Economics 61.

For Graduates and Undergraduates:—

[Economics] 61. Professor Taussig. — History of Tariff Legislation in the United States. Hf. 2 hours. 1st half year.

Total 88: 11 Graduates, 40 Seniors, 20 Juniors, 5 Sophomores, 12 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

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Final Examination

1895-96.
ECONOMICS 6.

Arrange your answers strictly in the order of the questions. One question, and one only, may be omitted.]

  1. What earlier legislation affected the provisions of the tariff act of 1789? What light does the earlier legislation throw on the character of this act?
  2. Was the argument for protection to young industries more applicable to cotton goods in 1816 than to silk goods in 1870?
  3. What changes were made, in 1833, in the duties on woollens, cottons, linens, and worsteds? Why the differences in policy?
  4. What were the grounds on which it was maintained, in 1828-32, that a tax on imports was virtually a tax on exports? How far was the assertion true?
  5. Mention points of similarity and points of difference between Webster’s speech of 1824 and Gallatin’s memorial of 1831.
  6. Should you say that the position of the protective system in public opinion was the same in 1870-90 as in 1816-32?
  7. Explain the legislation in regard to the duties on sugar in the acts of 1890 and 1894. Was the at of 1894 more advantageous than its predecessor to the planters? to the refiners? to the public?
  8. What do you believe would now be the effect, on domestic industries, of the free admission of (1) pig iron, (2) woollen goods, (3) linens?
  9. In what mode were the tea and coffee duties dealt with in the period 1840-60? in the period 1865-95? What explanation of the general course of policy can you give in either case?
  10. In what cases, if in any, are duties on imports a charge on the foreign producer?
  11. The significance of the events of 1860 for the tariff history of France and of England.
  12. Is there ground for saying that the drift since 1870 toward protective duties, in the United States and on the Continent of Europe, rests on the same general causes?

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
Financial Administration and Public Debts.

Course Enrollment for Economics 71.

For Graduates and Undergraduates:—

[Economics] 71. Dr. John Cummings. — Financial Administration and Public Debts. Hf. 3 hours. 1st half year.

Total 27: 1 Graduate, 8 Seniors, 12 Juniors, 1 Sophomore, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

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Final Examination

1895-96.
ECONOMICS 7.

Divide your time equally between A and B. I and II may be treated as one question.

A.

  1. Give an account of the sinking fund provisions enacted by Congress 1790-1820; and of the management and refunding of the debt during this period.
  2. Examine and criticise the following account of the evolution of public credit, with a view to determining whether a government is ever justified in pledging the State to any definite policy of debt payment:—

“In this evolution, as in all others, there are transition stages: we have debts of long term, but secured by the pledging of public property or of income from taxes. Then we have a long period of redemption without such a pledge. The plan of discharging the debt simply on the ground of financial expediency, to which the debtor state has accustomed itself, presently takes the place of redemption simply at the instance of impatient creditors. Finally the question of redemption comes by mutual consent to be left entirely undetermined.”

B.

(Take any five of the questions following.)

  1. What effect upon the present worth of a security has lengthening the term for which it is to run?
  2. Give an account of the payment of the war indemnity to Germany.
  3. Discuss the “use and disuse of ‘relishes,’ gambling risks which are added in order to commend a public loan to the taste of creditors,” as a feature in the development of public credit.
  4. Compare the development of public credit in Prussia with that of Great Britain, at the beginning of this century.
  5. Examine and criticise the following selection:—

“As regards the relation of public control to the public credit, there is obviously a lone step taken in advance when the public control comes to he so employed as to not discriminate in its own favor.”

  1. [sic] Define the following terms, and illustrate: “budget,” “conversion,” “rolling annuity.”
  1. [sic] What influence has our Secretary of the Treasury over financial legislation, as compared with the influence of the English Chancellor of the Exchequer? Compare the manner of making up the estimates of public income and expenditure in England and in the United States; of appropriating funds out of the Treasury.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also found in: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

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1895-96.
History of Financial Legislation in the United States.

Course Enrollment for Economics 82.

For Graduates and Undergraduates:—

[Economics] 82. Dr. J.A. Hill. — History of Financial Legislation in the United States. Hf. 2 hours. 2d half year.

Total 64: 5 Graduates, 22 Seniors, 18 Juniors, 6 Sophomores, 13 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

 

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Final Examination

1895-96.
ECONOMICS 8.

(N. B. — Omit one question under each of the five main divisions of the paper.)

I.

  1. Is the Independent Treasury System preferable to the use of banks as public depositories? Present the arguments on each side of the question, using any illustrations from the History of the United States that may occur to you.
  2. What illustrations does our financial history afford of difficulties that may arise from an exclusive reliance upon import duties as a source of revenue?

II.

  1. Describe the scheme which was adopted in 1790 for settling the accounts between the United States and the individual States. How did the assumption of the State debts affect the account?
  2. In what respects did the financial policy which the country pursued during the War of 1812 deviate from that which Gallatin had advocated in anticipation of war?
  3. What descriptions of treasury notes were issued during the War of 1812, and how did the successive issues indicate that the country was drifting towards a government paper currency?

III.

  1. The following extract is from a speech which Webster delivered in Congress on Jan. 2, 1815. The bank bill to which it refers was substantially the same as Dallas’ plan for a bank:—
    “What sort of an institution, sir, is this? It looks less like a bank than a department of the Government. It will be properly the paper money department. Its capital is Government debts; the amount of its issues will depend on Government necessities; Government, in effect, absolves itself from its own debts to the bank, and by way of compensation absolves the bank from its own contracts with others.”
    What features of the proposed bank did Webster refer to in his criticisms? What sort of a bank did he favor? What was the outcome of the movement for a bank at this session of Congress?
  2. What causes produced the surplus of 1836? When was there a somewhat similar situation in the later history of the country?
  3. State briefly where the public moneys of the United States have been kept at different periods since 1789.

IV.

  1. How did Secretary Chase execute the authority conferred upon him by the loan Acts of July 17 and Aug. 5, 1861, and in what respect was the course which he pursued open to criticism?
  2. The Legal Tender Act of March 3, 1863, contains the following clauses:—

And so much of the Act to authorize the issue of United States notes, and for other purposes, approved Feb. 25, 1862, and of the act to authorize an additional issue of United States notes, and for other purposes, approved July 11, 1862, as restricts the negotiation of bonds to market value, is hereby repealed. And the holders of United States notes, issued under and by virtue of said acts, shall present the same for the purpose of exchanging the same for bonds, as therein provided, on or before the first day of July, 1863, and thereafter the right so to exchange the same shall cease and determine.
Explain the meaning, object and effect of these provisions.

  1. How much assistance did the Government derive from the Direct Tax during the Civil War? Why is it probable that this form of taxation will never be resorted to again?

V.

  1. Give the main provisions of the Resumption Act of 1875? Why was it doubtful whether this Act would actually secure the resumption of special payments?
  2. State in general terms the changes effected in the form of the national debt (1) while McCulloch was Secretary of the Treasury, (2) under the Refunding Act of 1870, (3) by Secretary Windom in 1881.
  3. Give an account of the discussion which arose in 1867-68 on the question of paying the principal of the War debt in legal tender notes.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Social and Economic Condition of Workingmen in the United States and in other countries.

Course Enrollment for Economics 9.

For Graduates and Undergraduates:—

[Economics] 9. Asst. Professor Edward Cummings. — The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 67: 4 Graduates, 25 Seniors, 27 Juniors, 6 Sophomores, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 9

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of different countries. Omit one question.)

  1. Contrast the structure of industry before machinery with the structure of modern industry.
  2. In what sense can there be said to be a law of invention? and how is this illustrated historically by the appearance and sequence of the great industrial inventions?
  3. How does machinery affect the demand for labor? the quality of labor? the family of the laborer? his real wage?
  4. Trade unionism vs. trades unionism; the old unionism vs. the new unionism. Explain the differences, and show how and when these phases have from time to time recurred during this century.
  5. How is Chartism related to other phases of the labor movement in England?
  6. The merits and the demerits of such trade-union organizations as you have thus far become acquainted with.
  7. Arbitration and Conciliation: (a) In what industries and in what forms have they succeeded best? (b) The present status and the prospects of industrial arbitration in England and in the United States.
  8. Taking the ordinary factory, how far is it possible or impossible to devise a system of remuneration which reconciles the interests of (a) workmen, (b) foremen, (c) employers, and (d) consumers? Explain carefully the merits and defects of the methods you propose to adopt or reject.
  9. In what respects does labor differ from other commodities? What ethical and economic consequences flow from these differences?
  10. How far, from time to time, has economic theory — Smith, Ricardo, Malthus, Mill, etc., — seemed to justify, and how far to suggest remedies for the industrial evils affecting wage-earners?
  11. The relation of cooperation to trade-unions, to profit-sharing, to socialism.

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 9.

(Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of different countries. Take the first six questions and one other.)

  1. Describe carefully the German system of compulsory insurance:

(a) To whom and to what proportion of the population it applies;
(b) The method of organization and of assessment in each case;
(c) The relation of the system to employer’s liability, to poor laws, friendly societies, etc.
(d) Arguments for and against the system.

  1. How far and with what modifications have such schemes been adopted or seriously proposed elsewhere?

(a) Contrast the plan in each case with the German plan;
(b) What circumstances seem to you to favor and what to hinder such action by the government?

  1. How far have voluntary organizations solved or failed to solve the problem of workingmen’s insurance, (a) in England? (b) in the United States?
  2. What light does the experience of France and of England during this century throw upon the good or the bad effect of attempts on the part of the government either to repress or to foster, (a) labor organizations; (b) coöperation; (c) friendly societies?
  3. In what other countries have you found instructive examples of such interference?
  4. Compare the experience and the legislation of the United States in regard to immigration, with the experience and legislation of other countries in which immigration problems have arisen.
  5. In what countries and in what ways have labor organization tended to drift into politics, and seek political remedies for industrial evils?

(a) Compare the experience of France, Belgium, Germany and English-speaking countries.
(b) What conclusion do you draw from such experience?

  1. What evidence do statistics of family income and expenditure furnish (a) in regard to the social condition of labor in staple industries of the United States and of competing countries? (b) in regard to cost of labor?
  2. What attempts have been made to perpetuate or reestablish certain aspects of the guild organization in European countries?
  3. Discuss the schemes adopted by governments, municipalities, etc., for meeting the “out-of-work problem.”
    What is the origin of that problem in the United States?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
The Mediaeval Economic History of Europe.

Course Enrollment for Economics 10.

For Graduates and Undergraduates:—

[Economics] 10. Professor Ashley. — The Mediaeval Economic History of Europe. 2 hours.

Total 14: 7 Graduates, 5 Seniors, 2 Juniors.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Mid-Year Examination.

1895-96.
ECONOMICS 10.

I.

To be first attempted by all.

Translate, and comment, on the following passages:

  1. Totius terrae descriptio diligens facta est, tam in nemoribus quam in pascuis et pratis, nec non in agriculturis, et verbis communibus annotata in librum redacta est.
  2. In Tineguella . . . sunt iiii hidae et dimidia ad geldum Regis. Et de istis tenent xx homines xx virgas terrae. Et xiii homines tenent vi virgas et dimidiam.
  3. Sicut traditum habemus a patribus, in primitivo regni statu post conquisitionem, regibus de fundis suis non auri vel argenti pondera sed sola victualia solvebantur.
  4. Plerique, cum aut aere alieno aut magnitudine tributorum aut injuria potentiorum premuntur, sese in servitutem dicunt nobilibus, quibus in hos eadem omnia sunt jura quae dominis in servos.
  5. Ceteris servis non in nostrum morem, descriptis per familiam ministeriis, utuntur. Suam quisque sedem, suos penates regit.

II.

Write on four only of the following subjects.

  1. The importance of the yardland in the rural economy of the Middle Ages.
  2. A history of the mark theory, from its first promulgation to its general acceptance.
  3. A comparison of the life of a medieval English village with that of a New England village of today.
  4. The Roman colonate.
  5. An account and criticism of Mr. Seebohm’s “Tribal System in Wales.”

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 10.

I.

To be first attempted by all.

Comment on the following passages, and translate those in Latin and French:—

  1. If a man agree for a yard of land, or more, at a fixed rent, and plough it; if the lord desire to raise the land to him to service and to rent, he need not take it upon him, if the lord do not give him a dwelling.
  2. Ego Eadward . . . rex . . . dedi X manentes in illo loco qui dicitur aet Stoce be Hysseburnam, cum omnibus hominibus qui in illa terra erant qando Ælfred rex viam universeæ carnis adiit.
  3. Magnates regni et alii minores domini qui tenentes habebant perdonarunt redditum de redditu ne tenentes abirent prae defectu servorum et caristia rerum.
  4. Whan Adam dalf and Eve span,
    Wo was thanne a gentilman?
  5. Nul ne deit rien achater a revendre en la vile meyme, fors yl sera Gildeyn.
  6. Cives Londoniae debent LX marcas pro Gilda telaria delenda ita ut de cetero non suscitetur.
  7. No one of the trade of Spurriers shall work longer than from the beginning of the day until curfew rings out at the church of St. Sepulchre.

II.

Write on four only of the following subjects:

  1. The economic and constitutional questions involved in recent discussions as to the beginnings of town life in mediaeval Europe.
  2. A comparison of a mediaeval merchant gild with a modern “trust,” and of a craft gild with a modern trade union.
  3. The extent and character of the public regulation of prices and wages in the later middle ages.
  4. The cause of the Peasant Revolt in 1381.
  5. The relation of the English Reformation to the origin of the Poor Laws.
  6. A criticism of Cunningham and McArthur’s Outlines of English Industrial History.

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Banking and the History of the leading Banking Systems.

Course Enrollment for Economics 122.

For Graduates and Undergraduates:—

[Economics] 122. Professor Taussig. — Banking and the History of the leading Banking Systems. Hf. 3 hours. 2d half year.

Total 70: 10 Graduates, 30 Seniors, 19 Juniors, 4 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 64.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 12.

[Arrange your answers strictly in the order of the questions. Give some answer, however brief, to each question.]

  1. What was Bagehot’s opinion as to the advantage of a “many reserve” system as compared with a “single reserve” system? What light does American experience give?
  2. What important proposal made by Bagehot in Lombard Street has been adopted?
  3. What was the theory of the act of 1844? How far was that theory followed in the legislation on the Reichsbank of Germany?
  4. (a) Arrange in their proper order the following items, in which the figures stand for millions of marks.
Capital 150 Loans 800
Specie 800 Securities 50
Notes 1150 Other Assets 50
Deposits 350 Other Liabilities 50

(b) Consider what would be the significance of the statement if it were for the Reichsbank of Germany; assuming the limit of uncovered issue to be 300 millions of marks.

(c) Rearrange the items as they would appear if the statement were one of the condition of the Bank of England; assuming the limit of notes not required to be covered by specie to be 16 millions sterling = 400 million marks, and assuming that securities of any sort may be held against the uncovered issue. Consider then how the statement, thus rearranged, differs from a probable statement of the actual condition of the Bank of England in recent times.

  1. Does the Bank of France supply an elastic currency? Do the National Banks of the United States?
  2. “Redemption by the Treasury under the national bank legislation has been a convenient method of disposing of worn and soiled notes, and in case of accumulations of currency at special points has facilitated its rapid exchange for legal tender and specie. But nobody would say that this system has compelled any bank to face its notes in the same sense in which it has to face its liability for checks drawn against deposits.” Explain.
  3. Consider the effects on bank-note circulation and redemption of (1) exchange of notes among banks; (2) legislative prohibition of payment by a bank of notes other than its own; and give historical examples of the use of one or the other method.
  4. Does the United States Treasury now carry on a banking business? Did the Comptoir d’Escompte in 1848? The Prussian government in 1866?
  5. Does a banker lend his own money? the money of others?
  6. To what extent, and for what reasons, should the operations of savings-banks, private bankers, and trust companies, be excluded from consideration in this course?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Scope and Method in Economic Theory and Investigation.

Course Enrollment for Economics 132.

For Graduates and Undergraduates:—

[Economics] 132. Professor Taussig. — Scope and Method in Economic Theory and Investigation. Hf. 2 hours. 2d half-year.

Total 14: 11 Graduates, 3 Seniors.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

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Final Examination

1895-96.
ECONOMICS 13.

  1. Compare Wagner’s enumeration of the problems within the scope of economic science with Keynes’s; and consider what doubts or objections there may be in regard to any of the problems mentioned by either writer.
  2. Explain and examine critically one of the following passages in Wagner:
    Section 63 (pp. 158-163).
    Section 70 (pp. 180-182).
  3. Illustrate the mode in which use is advantageously made of the deductive and the inductive method in regard to two of the following topics:

the causes which determine the general range of prices;
the prospects of socialism;
the prospects of coöperation.

  1. What peculiarities and difficulties appear for economic science if the choice of terminology and in definition? Illustrate.
  2. Is there ground for saying that the economic history of very recent times is of greater value for economic theory than the economic history of remote periods?
  3. What do you conceive to be the position in regard to method in economies of Ricardo? J.S. Mill? Roscher? Schmoller?

Source: Harvard University Archives. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

___________________________

1895-96.
Communism and Socialism.

Course Enrollment for Economics 141.

For Graduates and Undergraduates:—

[Economics] 141. Asst. Professor Edward Cummings. — Communism and Socialism. — Utopias, ancient and modern. Hf. 2 hours. 1st half-year.

Total 15: 1 Graduate, 10 Seniors, 2 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1895-96, p. 63.

*  *  *  *  *  *  *  *  *  *

Final Examination

1895-96.
ECONOMICS 14.

(Arrange your answers in the order of the questions. Omit one.)

  1. The different senses in which the word Socialism is used. Where do you intend to draw the line between Socialism proper, and familiar forms of government interference and control — such as factory legislation, municipal water works, and government postal, telegraph or railroad services?
  2. “National communism has been confused with the common ownership of the family; tenure in common has been confused with ownership in common; agrarian communism with village commons.” Discuss the evidence.
  3. “Just as Plato had his Republic, Campanella his City of the Sun, and Sir Thomas More his Utopia, so Baboeuf had his Charter of Equality, Cabet his Icaria, St. Simon his Industrial System, and Fourier his ideal Phalanstery. . . . But the common criticism of Socialism has not yet noted the change, and continues to deal with the obsolete Utopias of the pre-evolutionary age.” What do you conceive to be the character of the change referred to? How far did the earlier Utopias anticipate the ideals of the modern social democracy?
  4. What indication of Socialistic tendency are to be found in the discipline of the Christian church? Explain the triple contract and its bearing on the doctrine of usury.
  5. “The Communistic scheme, instead of being peculiarly open to the objection drawn from danger of over-population, has the recommendation of tending in an especial degree to the prevention of that evil.” Explain Mill’s argument. Do you agree?
  6. To what extent are the theories of Karl Marx indebted to earlier writers in the 19th century?
  7. How far are the economic theories of (a) Lasalle, (b) Marx related to the theories of the so-called orthodox Economists? Explain critically.
  8. How far do you trace the influence of historical conditions in the social philosophies of Plato, More, Bacon, Rousseau, St. Simon, Karl Marx?
  9. What connection do you see between the teachings of Rousseau and (a) modern Socialism. (b) modern Anarchism?
  10. What, according to Hertzka, is the economic defect of the existing social and industrial system, and what is the remedy? Contrast “Freeland” with “Looking Backward.”

Source: Harvard University Archives. Harvard University, Mid-year Examinations 1852-1943. Box 3, Bound volume Examination Papers, Mid-Years 1895-96.

Also reprinted in. Harvard University, Examination papers 1873-1915. Box 4, Bound volume: Examination Papers 1896-97. Papers Set for Final Examinations in Philosophy, History, Government, Economics, Fine Arts, Architecture, and Music in Harvard College, June 1896.

 

 

 

Categories
Economic History Exam Questions Fields Harvard Statistics

Harvard. Division Exams for A.B., General and Economics, 1920

The Harvard Economics department was once one of three in its Division in the Faculty of Arts and Sciences. The Departments of History and Government shared a general division exam with the Department of Economics and also contributed their own specific exams for departmental fields. This post provides the questions for the common, i.e. general, divisional exam and all the specific exams at the end of the academic year 1919-20 for fields covered by the economics department.

_______________________

Previously Posted Division A.B. Exams from Harvard

Division Exams 1916

Division Exams, January 1917

Division Exams, April 1918

Division Exams May 1919

Division Exams 1931

Special Exam for Money and Government Finance, 1939

Special Exam Economic History Since 1750, 1939

Special Exam for Economic Theory, 1939

Special Exam for Labor and Social Reform, 1939

_________________________

DIVISION OF HISTORY, GOVERNMENT AND ECONOMICS

DIVISION EXAMINATIONS FOR THE DEGREEE OF A.B.
1919-20

DIVISION GENERAL EXAMINATION
[April 29, 1920.]

PART I

The treatment of one of the following questions will be regarded as equivalent to one-third the examination and should therefore occupy one hour. Write on one question only.

  1. Compare pamphleteering and propaganda as methods of exerting political influence.
  2. What effect has the establishment of standing armies and navies had upon (a) political and (b) economic organization of the state?
  3. Show how, and why, the following were adapted to certain stages of society: (a) feudalism; (b) gilds; (c) nationality; (d) industrialism.
  4. Trace the course and explain the significance of the development of maritime law.
  5. Contrast the Greek and Italian city states.
  6. What are the wastes of the present industrial system and how, if at all, are they to be eliminated?
  7. Comment on the following: “History embraces ideas as well as events, and derives its best virtues from regions beyond the sphere of state.”
  8. Discuss the problems involved in the economic rehabilitation of Central Europe.
  9. What are the rights of minorities and how are they best secured?
  10. Compare the foreign policies of France, Germany, and the United States during the nineteenth century.

PART II

The treatment of three of the following questions in Part II is required and will be regarded as equivalent to one-third of the examination, and should therefore occupy one hour. The three questions are to be taken from the Departments in which the student IS NOT CONCENTRATING; two questions from one of these Departments and one question from the other.

A. HISTORY

  1. Why did Voltaire characterize the Holy Roman Empire as “neither holy, nor Roman nor an Empire”?
  2. What do you regard as the six most important naval battles in the history of the world! When and where were they fought, and who were the victors and the vanquished in each?
  3. Give a brief account of the relations of the United States and Canada.
  4. What have been the principal issues involved in the struggle over Home Rule?

B. GOVERNMENT

  1. What was the political condition of European states at the time of the Crusades!
  2. In what sense are constitutions of states “made”?
  3. If the principle of reparation of governmental powers is correct, why has the English cabinet system been approved?
  4. Explain the reasons for immigration to the United States from 1870 to 1895.

C. ECONOMICS

  1. What has been the contribution of the corporation to English and American political and economic institutions?
  2. Trace the evolution of collective bargaining in industry.
  3. What is “profiteering”? Explain its relation to the present high cost of living.
  4. Describe the development, and indicate the importance, of national budgets.

PART III

The treatment of three of the following questions in Part III is required and will be regarded as equivalent to one-third of the examination, and should therefore occupy one hour. The three questions are to be taken from the Department in which the student IS CONCENTRATING.

A. HISTORY

  1. Describe the changes in the attitude towards the Christians of the Roman Emperors down to Constantine.
  2. Discuss the development of national assemblies during the Middle Ages.
  3. What did the Tudors do for England?
  4. What is now the territory within the jurisdiction of the United States has been derived, directly or indirectly, from seven European nations. What are the seven, and what territory was derived from each?
  5. Enumerate, with dates, the principal changes in the form of government of France since 1789. How do you account for their frequency?

B. GOVERNMENT

  1. Discuss the development of the relations of President and Cabinet in the United
  2. Discuss and illustrate the following: “If tolerance can be allowed in a state, so much the better; that proves that the state is strong.”
  3. What should be the disposition of Constantinople?
  4. Give a brief sketch, explaining cause and naming period, of three of the following: (a) Dorr Rebellion; (b) Whiskey Insurrection; (c) Shay’s Rebellion; (d) Seminole War; (e) Ku-Klux Klan.
  5. How has the change in distribution of population affected governmental organization and administration?

C. ECONOMICS

  1. Discuss the probable future of the market for loanable funds in the United States and Europe.
  2. State the purposes and proper limits of progressive taxation.
  3. Describe the efforts of the Federal Government to enforce fair competition.
  4. What considerations are involved in the maintenance of public agencies for the distribution and employment of labor? What light is thrown on the subject by American and European experience?
  5. Sketch the history and present prospects of the American merchant marine.

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DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
ECONOMIC THEORY
[May 3, 1920.]

Answer six questions

A

Take from this group at least two and not more than four

  1. “It is the business of economic theory to explain, not to justify or condemn.” Comment.
  2. Discuss the rôle of mathematical analysis in the development of economic theory.
  3. “The determining cause of the general rate of money incomes and wages in a country is to be found in the exporting industries.” Explain.
  4. “The income from concrete instruments of production may be regarded as ‘rent’ or as ‘interest’ according to the point of view.” Explain and discuss.
  5. Of what concretely do invested, of what do uninvested, savings consist? Can savings accumulate to an indefinitely large amount? Can saving be carried to excess?
  6. “The standard of living affects wages, not directly, but through its influence on numbers. … A limitation of numbers is not a cause of high wages, but it is a condition of the maintenance of high wages.” Explain and criticize.
  7. Discuss the theories of business profits.

B

Take from this group at least one and not more than two

  1. Outline the history of mercantilism.
  2. Give an account of an important political episode in which economic theory has had a decisive influence.
  3. Trace the course of the rate of interest in modern times. What do you expect to be the course of the rate during the next fifteen years? Why?
  4. Characterize the more important developments in the history of socialism.

C

Take from this group at least one and not more than two

  1. What is the relation of (a) investment banking, (b) commercial banking, to capitalistic production?
  2. What theoretical problems are involved in government regulation of security issues?
  3. Does profit-sharing promise a solution of the problems of distribution? Why or why not?
  4. Discuss the following statement: “If you are not advertising, then advertise, because it saves money for you and it reduces the price to the consumer.”

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
ECONOMIC HISTORY
[May 3, 1920]

Answer six questions

A

Take from this group at least one and not more than two

  1. To what extent, if at all, and in what particulars, has the policy of high protection been of advantage to the American laborer?
  2. How do price revolutions, such as that in progress since 1897, tend to affect the distribution of wealth?
  3. Briefly explain the most satisfactory statistical methods for separating the different types of variation in time series.
  4. What is a logarithmic curve? What are its merits and defects in the graphic presentation of historical series?
  5. Trace the development of uniform accounting for railroads in this country. Indicate any connections between uniform accounting and government regulation of the railroads.

B

Take from this group at least two and not more than four

  1. Discuss the economic results of the crusades.
  2. Give a brief historical account of mercantilism.
  3. Outline the history of the public debt of one of the following countries: (a) Great Britain; (b) France; (c) United States.
  4. Trace the agrarian movement on the continent of Europe.
  5. Discuss the positions of the various English political parties and social classes on the question of Corn Law Repeal.
  6. Write a brief history of one of the following industries in the United States:

(a) Meat-packing;
(b) Tin-plate manufacture;
(c) Boot and shoe manufacture;
(d) Ship-building.

  1. When and by what steps was silver demonetized in the United States?
  2. Outline the development of the English textile industry.
  3. Give a brief account of the “trust movement” in the United States since 1898.
  4. Sketch the history of the export trade of the United States.

C

Take from this group at least one and not more than two

  1. Analyze the effects of England’s early commercial policy.
  2. What specific defects in the National Banking System was the Federal Reserve Act, 1913 intended to remedy?
  3. Trace and explain the history of the American merchant marine since 1840. What is its probable future and why?
  4. What industrial conditions are most conducive to the rapid growth of labor organizations? Why?

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
MONEY AND BANKING
[May 3, 1920]

Answer six questions.

A

Take from this group at least one and not more than two

  1. Discuss the distinction between currency expansion and currency inflation.
  2. What statistics of money and banking best serve as indices of financial, speculative, and general business conditions?
  3. Outline a system of accounts for a small commercial bank.
  4. What are the best sources of statistical data upon the following subjects:

(a) Bank clearings in the United States;
(b) Resources and liabilities of banks of New York City;
(c) Bank rates in the London and Paris money markets;
(d) The monetary stock of the United States;
(e) Changes in the value of gold in England?

B

Take from this group at least one and not more than two

  1. Outline the currency history of one of the following:

(a) Canada;
(b) Germany;
(c) British India;
(d) the Philippines;
(e) the American colonies;
(f) Russia.

  1. State and explain Gresham’s Law. Give four historical examples of the working of the law.
  2. Sketch the history of the relations between the United States Treasury and the banking institutions of the country.
  3. Compare American, British, and German banking methods and policy during the World War.
  4. Describe in detail one of the following financial panics: 1837; 1873; 1893; 1907.

C

Take from this group at least two and not more than four

  1. What have been the causes of the rehabilitation of silver?
  2. What are the arguments for and against an embargo upon gold exports from the United States at this time?
  3. Describe the business of an American bond house.
  4. Discuss critically the following statement made early in 1916:
    “The recent enactment of the Federal Reserve Act only made our sudden riches more embarrassing, for that Act had so changed our system of banking that every $18 of gold in the banks created $82 worth of loanable credit, whereas formerly, of every $100, $25 had to sit in the vaults while only $75 went out to work in the form of loans. In other words (as a result of the War and our banking reform), we not only had enormously more gold, but every dollar of it went a good deal further than ever before in financing new enterprises. This is the situation today.”
  5. Give a critical analysis of the policies of the Federal Reserve Board.
  6. Compare banking in France and England since the signing of the armistice.
  7. Why has London been the financial center of the world? What are the prospects that New York will in time displace London?

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DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
CORPORATE ORGANIZATION, INCLUDING TRANSPORTATION
[May 3, 1920]

Answer six questions

A

Take from this group at least one and not more than two

  1. In discussing the problems of capitalistic monopoly, it has been stated that “the matter at issue is a question, less of relative ‘economy’ of monopoly and competition than of the kind of economic organization best calculated to give us the kind of society we want.” Explain and discuss.
  2. What are the methods of measuring depreciation? What different policies with respect to depreciation have been advocated in the regulation of public utility rates?
  3. Discuss comparatively the public regulation of railway accounts in England, France, and the United States.
  4. To what extent do the reports of the Bureau of the Census furnish data upon corporate enterprise in the United States?

B

Take from this group at least one and not more than two

  1. Sketch the history of the Sherman Anti-Trust Law and its enforcement.
  2. Give a brief account of the functions and work of the United States Bureau of Corporations.
  3. Trace the evolution of the equipment of the modern railway.
  4. Outline the history of railroads in Germany.

C

Take from this group at least two and not more than four

  1. What are the purposes and customary scope of “blue sky” laws? What is the case for and against such legislation?
  2. What connections exist between banks and industrial combinations in the United States? Contrast the situation here with that in France.
  3. Compare American and German public policy toward industrial combinations.
  4. Give a critical analysis of the present railway rate structure in the United States.
  5. Discuss the Plumb Plan for the ownership and operation of the railways of the United States.
  6. Discuss the effects of the great inter-oceanic canals upon inland and ocean transportation.
  7. What are the problems of excess profits taxation?

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
PUBLIC FINANCE
[May 3, 1920]

Answer six questions.

A

Take from this group at least one and not more than two

  1. To what extent, if at all, and in what manner, are taxes a contributing cause of the present “high cost of living”?
  2. Discuss the proposal to tax individuals in proportion to their expenditure rather than their income, thus exempting savings.
  3. Describe the statistical features of the Census Bureau’s annual reports on “Financial Statistics of Cities.”
  4. What course has been taken by the reform of municipal accounting in the United States?

B

Take from this group at least one and not more than two

  1. Outline the development of the science of public finance.
  2. Give a critical account of the Independent Treasury of the United States.
  3. Trace the history of budget plans in American state and municipal government.
  4. Compare the financing of the American and French Revolutions.
  5. Give a brief historical account of direct taxation in Germany.
  6. Develop and defend a classification of public revenues.

C

Take from this group at least two and not more than four

  1. Compare government monopolies and internal revenue taxes as means of raising national funds.
  2. Analyze the financial results of the operations of the United States Post Office.
  3. Upon what bases should public utilities be valued and paid for when taken over by municipal authorities?
  4. “Taxation, while necessarily involving political and social considerations, is essentially a problem in national economies.” Do you agree? State your reasons.
  5. The practice of exempting government bonds from taxation is a pernicious American custom.” Comment.
  6. Discuss the effects of national prohibition upon public finance.
  7. Give a critical analysis of excess profits taxation.

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
LABOR PROBLEMS
[May 3, 1920]

Answer six questions

A

Take from this group at least one and not more than two

  1. Discuss the causes of the prevailing industrial unrest.
  2. To what extent and for what purposes should the state limit the hours of labor?
  3. Describe the technique of analyzing workingmen’s budgets.
  4. What statistical problems are involved in measuring labor turnover? What methods of measurement are most satisfactory?

B

Take from this group at least one and not more than two

  1. Compare trade unions and trade gilds, and the industrial conditions under each.
  2. Give a brief historical account of the employment of children in industry.
  3. Outline the development of the Railway Brotherhoods.
  4. Trace the history of the German Social Democratic Party.

C

Take from this group at least two and not more than four

  1. Analyze labor conditions in one of the following industries: (a) cotton manufacture; (b) coal mining; (c) steel manufacture.
  2. Discuss the main points of economic policy in the “reconstruction program” of the British Labor Party.
  3. What is the extent and importance of industrial unemployment?
  4. Discuss the present status of women in industry.
  5. Characterize the organization and results of the Washington industrial conferences of 1919-20.
  6. Discuss the aims, scope, and methods of employee representation in business management.
  7. What public policy should be adopted in regard to labor organizations among government employees?

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
ECONOMICS OF AGRICULTURE
[May 3, 1920]

Answer six questions

A

Take from this group at least one and not more than two

  1. To what extent are wages of management an element of cost in American agriculture?
  2. What are the interrelations of cold storage and prices of farm products?
  3. What statistical records are desirable for efficient operation of a dairy farm?
  4. To what extent and in what particulars is depreciation involved in farm accounting?

B

Take from this group at least one and not more than two

  1. Describe the agrarian revolution in England.
  2. Sketch the movement of the wheat belt in the United States since colonial times.
  3. Give a brief historical account of farm tenancy in the United States.
  4. Trace connections between the tariff policy of the United States and wool growing in this country.
  5. Outline the development of the work of the United States Department of Agriculture.

C

Take from this group at least two and not more than four

  1. Discuss the relations between climate and the productivity of land.
  2. Indicate the origins of the more important breeds of live stock. What contributions, if any, has this country made to the improvement of the breeds?
  3. Describe the effects of the World War upon the wool market.
  4. What are the relations between the wages of agricultural and factory labor?
  5. Compare the use and importance of artificial fertilizers in American and European agriculture.
  6. Give a brief critical analysis of the Federal Farm Loan Act.
  7. What are the causes of the increasing urbanization of population in the United States?

_________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

DIVISION SPECIAL EXAMINATION
STATISTICS
[May 3, 1920]

Answer six questions

A

Take from this group at least two and not more than four

  1. Draft a set of rules for the construction of statistical tables.
  2. Explain “the necessity of the logical agreement of magnitudes from which an average is to be computed” and compare this with the requirement of “the greatest possible homogeneity of series.” Which of these requirements seems to you more difficult of fulfilment? Why?
  3. Describe the short-cut method of calculating the arithmetic mean from a frequency table. What assumptions underlie this method?
  4. Explain briefly: (a) discrete series; (b) mode; (c) Lorenz curve; (d) average of position; (e) Galton graph.
  5. Explain the different methods of eliminating secular trend in historical series.
  6. Describe the construction and characteristics of a logarithmic curve. What are the merits and defects of such a curve?
  7. What are the comparative advantages and disadvantages of chain indices and fixed-base indices in the measurement of changes in the price level?

B

Take from this group at least one and not more than two

  1. Give a brief account of the evolution of Statistics.
  2. Outline the history of the Bureau of the Census.
  3. Trace the development of price statistics in England.
  4. What has been the history of wage statistics in the United States?

C

Take from this group at least one and not more than two

  1. Discuss the different methods employed in estimating population.
  2. What are the principal difficulties in the collection of mortality statistics?
  3. Discuss critically current statistics of foreign trade in this country and abroad.
  4. What units have been employed in the statistics of railways? Analyze and appraise the different units.
  5. What are the best sources of statistical data upon the following subjects:

(a) Bank clearings in the United States;
(b) Resources and liabilities of banks of New York City;
(c) Bank rates in the London and Paris money markets;
(d) The monetary stock of the United States;
(e) Changes in the value of gold in England?

 

Source: Harvard University Archives. Harvard University Divisional and General Examinations, 1915-1975. Box 6, Bound volume Divisional Examinations 1916-1927 (From the Private Library of Arthur H. Cole).

Image Source: Widener Library from Harvard Class Album 1920.

Categories
Columbia Cornell Economics Programs Harvard Michigan Popular Economics Yale

“Political Economy and the Civil War” by Laughlin that provoked an Economist-Bashing editorial, 1885

Before becoming the founding father of the department of political economy at the University of Chicago, the 35 year old Harvard assistant professor J. Laurence Laughlin (Harvard Ph.D. 1876) published an essay, transcribed below, arguing that liberal college education needed to be expanded beyond Greek, Latin, mathematics, and philosophy to include courses dealing with economic theory and its policy applications. He provides us a table of the limited course offerings in political economy at five major colleges/universities at the time. I stumbled upon an unsigned editorial written in response to Laughlin that I have also transcribed and which is placed at the end of this post. The editorial provides us with historical evidence that ill-tempered economics-bashing is hardly a creation of the Twitternet Age. No siree Bob! The editor was not amused by Laughlin’s presumption, calling him and his college professor colleagues who taught political economy to boys…”vealy milksops”. I dare any or all visitors to sneak that expression into a footnote.

________________________________

POLITICAL ECONOMY AND THE CIVIL WAR.
By J. Laurence Laughlin.

Atlantic Monthly, v. 55 (April, 1885) no. 330, pp. 444-450.

In some parts of our country there is a current maxim among the old-fashioned gardeners to the effect that “a wind-shaken tree will bear much fruit.” There is some subtle force in it. In fact, it is an expression which may be regarded as finding its parallel in individual and social life. As individuals, we know that there is no real growth of character except by a conquest over opposing difficulties; the doing right when it is against our inclinations and prejudices. And in a social organism we seem to see a moral law of conservation of energy by which a sacrifice is the parent of some gain,— a thing which evidently underlies the movements attending many great convulsions in political life. We saw armies go out of our sight during the civil war, only to come back thinned, injured by disease, with half their number left dead on the field. Death meant bitter, indescribable sorrow in all our homes. The experiences of the war were felt to be pitiless, inexplicable, and hard. And yet, perhaps, a subtle suggestion may have come into our minds that it was not simply by dying, or in living, that the best law of our being was enforced; that there was, in truth, some Power behind it all; that some purpose was being worked out through each one of us, just as each leaf on the tree, for example, is necessary to the completed organism of the whole tree, and ceases to be when it is separated from the stem. Now, perhaps, even at this short distance from the struggle, we can begin to see some of the effects of that social and political upheaval, the greatest since the foundation of our government. It is worth while to examine whether the wind shaken tree has borne much fruit.

The process by which citizens from the secluded districts and remote towns were sent through new cities to opposite parts of the Union, exchanging ideas with men of different habits of thought, was a marked feature of the war period, and leavened the mental life of the American people in a way hither to little suspected. It was something like sending a country boy to college, only the effect was multiplied a million times. The rural population came into a knowledge of our cities, while the urban classes were carried out into new climates and into unvisited parts of our vast domain. New sights, new methods of cultivation, different habits of living, stimulated the dull and fired the active and enterprising men in the ranks. The life of the farm and the village was widened to an interest in the nation. About the same time, moreover, came a vast increase in easy means of communication by railways and a greater extension of the use of the newspaper and telegraph, by which provincial towns were brought into direct connection with the outside world. Even oddities of customs and dress began to disappear, in the process of comparison with the more attractive ways of the dwellers in the great cities and towns. In this fashion, the thinking horizon was extended. Dull intellects learned the presence of complicated problems, and brighter minds found new spurs to ambition in the questions of larger interest. On all sides men felt themselves coming daily into contact with new difficulties, under a dim consciousness of their bigness, but with a strong belief that the knowledge how to deal with them was inadequate. In short, the tremendous crisis through which we passed, apart from its effect on the preservation of the Union, has been subtly at work in moral and intellectual directions. The working of these new forces on a quick and susceptible race can easily be imagined. They have, in fact, under somewhat similar conditions, had a distinct influence on a more phlegmatic people than ours. Old students at Göttingen, who have returned to the university since the late wars in which Germany has been engaged, have been amazed to find the old-fashioned spot — where the customs, habits, and naive simplicity of one hundred years ago had prevailed until quite recently — now wholly changed. The commercial spirit has seized the formerly simple-minded peasants, and the quiet town now hears the heavy march of cosmopolitanism in its streets.

Like Germany, the United States had new problems to solve. While the conflict closed the long slavery struggle, it brought with it intricate questions, but of a character very different from those which had gone before. Without warning, and consequently without the ability to get due preparation or acquire proper training, our public men were confronted, as the war progressed, with matters of vital importance in international and constitutional law, in taxation, and in every form of administration and finance. The demand for men who had given themselves more particularly to the province of governmental science was an imperative one; but it was, generally speaking, met in a way which showed that there existed in the community a class from whom these necessary men could be recruited. That class was the legal profession of the country. The questions of reconstruction, the relation of the general government to the States, the civil rights of the negro, our relations with foreign powers during the blockade of Southern ports, were not abandoned to men who had never habituated themselves to discussions such as were involved in their settlement. There were differences of opinion, of course; but inasmuch as these differences of opinion were produced by different political theories, this proved that attention had been given to such subjects to the extent that a crystallized system of thought, formulated in dogmas, had been created by the various parties.

But, as has been suggested, new considerations arose. The magnitude of the military operations involved an enormous expenditure of money by the state, and made a demand upon our statesmen for financial skill of an almost unparalleled kind. To meet these extended questions of taxation, finance, and currency, what body of men could be called upon? To this, answer must be made that the war overtook us without a supply — or even a few — of trained economists and financiers. The economic part in the equipment of a public official had been wholly neglected. In fact, political economy and finance had never been seriously studied in the schools; but, if studied, they were classed in the old-fashioned required curriculum with Butler’s Analogy and the Evidences of Christianity. Although Adam Smith wrote his Wealth of Nations in 1776, political economy was an unknown science to the American people before 1860. It is an interesting study to examine the manner in which our people went under the burdens and tasks of our great civil conflict. There was the quick adaptability of Americans to start with; there was plenty of patriotism and good will, and no lack of those high qualities of self-sacrifice and heroism which are still fragrant to us; but lawyers, such as Chase and Fessenden, were practically our only financiers. Early in the war they were required to consider a scheme — for the right settlement of which a vast experience is necessary — of raising loans, and adjusting a plan of taxation corresponding to the extraordinary war expenses. Without considering alternatives, in a few years they created a debt as great as that incurred by old despotisms of Europe in centuries; without foresight, they drifted into a ruinous issue of irredeemable paper money; without intending it as the object of a definite policy, but through a desire simply to gain a war revenue, they established an extended system of “protection to home industries” by levying duties on imports, which has brought into existence business interests largely dependent on the continuance of these temporary war measures. When it is realized that principles of taxation are to-day probably less understood than any other branch of economics, it is not surprising to find that in 1864 Congress was occupied only five days in passing the most gigantic taxation measure of the war. The National Bank Act, which has given us the best system of banking ever enjoyed by the country, was, however, in reality passed as an act to facilitate the sale of our bonds and aid our tottering credit. We blundered egregiously, but we were capable of learning by experience. Yet it was from these very blunders, from this revelation of inexperience made evident by the demands of a great emergency period, that the community received an impetus toward the study of economic questions which was certain to result in good fruit.

In fact, it is now clear that a new interest in economics and finance has already arisen. The civil war was, so to speak, the creation of economic study in the United States. The war did for this country — in a different way, of course — even more than the corn-law agitation did for England. It actually gave birth to new motives for study. There never was a time in our history when there was so evident a desire to get light on the economic problems of the day as now. There is a new stir among the ranks of the young men at college; and the printing-press sends forth an increasing stream of new books upon subjects which are constantly discussed in the daily newspapers. There is unquestionably a new-born, slowly growing attention by the younger men of our land to the necessity (as well as the duty) of fitting themselves properly for the responsibilities of citizenship. If the war has given us this, — the absence of which used to be so often lamented a few years ago, — then may some of our sacrifices not have been in vain. The wind-shaking has resulted in abundant fruit.

In the present awakening in educational discussion, one phase of which has been called the “Greek Question,” it is worth while to notice the influence of the war period on the college curriculum. In most of our schools and universities, on the breaking out of the war (and even to the present day), the pecuniary resources and endowments had been tied down, under the force of old traditions, to supply instruction in the customary Greek, Latin, mathematics, and philosophy, which were then considered the only essentials of a liberal education. But when the rude shock of the war awakened us to our ignorance, and we looked around for the schools where the new studies could best be followed, it was discovered that the college curriculum made practically no provision for such instruction. In the old days when sailing vessels alone entered Boston harbor, only one channel was practicable, and all the fortifications were placed in a way to command it: but when steam took the place of sails, another channel was adopted, but it is now wholly undefended. The old ship channel must be defended, but so must the new one. So, in the collegiate studies, the old subjects are necessary, of course, but they are not the only necessary ones. The new demands, due to the progress of the age, must also be met. In fact, the response of the schools to these new demands is at once the evidence and result of the quickening and stimulating forces so briefly sketched in these pages. A comparison of the amount of instruction in political economy given by the principal institutions of the land in the years 1860, 1870, and 1884 will furnish us new proof that the wind-shaken tree is yielding full fruit.

Nothing could show more distinctly than the accompanying table how young any real systematic study of political economy is in this country, and it accounts for the lack of any number of trained economists among us. But the younger generation are happily recruiting their ranks, now that these better opportunities are open to them.

At no time, however, have public affairs demanded unpartisan study in economics more than to-day. In past centuries governments were supposed to labor, in an unsettled state of society, for the protection of life and property. Now that the general progress of civilization and Christianity has made life and liberty more secure, legislation in later years has concerned itself rather with property than life. In the Middle Ages trade was considered plebeian; to fight or to oppress was regarded as more noble. Now the chief solicitude of the modern state is the increase of wealth: the castles have become mills; retainers, productive laborers; and arms, the hammers and tools of the artisan.

1860.

1870.

1884.

Yale College. One third of Senior year One third of Senior Year 1.  Elementary Course. — Fawcett. — Discussions on currency, banking, and taxation. 3 hours a week for 13 weeks.
2.  Elementary Course. — Mill. — Currency, banking, and taxation. 2 hours a week for a year.
3.  Advanced Course. — Discussion of economic problems and fallacies, with selections from leading treatises. 2 hours a week for 20 weeks.
4.  Graduate Course. — Finance and the Art of Politics, as illustrated in the History of the United States. 2 hours a week for 2 years.
5.  Graduate Course (in alternate years.) — In 1883-4, Sociology. In 1884-5, Industrial History, History of Political Economy, Finance and Theory of Rights. 1 hour a week for each year.
6.  History, business methods, and social problems, of Railroads. 2 hours a week for a year.
[A course about equal to Courses 1 and 2 is given in the Sheffield Scientific School.]

Cornell University.

[Institution not founded]

One third of Junior Year

1. Elementary Course. — Lectures and Recitations. 2 hours a week 2/3 of a year.
2. Lectures on Political Economy.5 hours a week for 1/3 of a year.
3. Lectures on Finance.

University of Michigan.

Not in the Course of Study.

One Term of Senior Year.

1. Elementary Course. — Lectures. 3 hours a week ½ of a year.
2.  Advanced Course. — Competition, Free Trade and Protection, Commercial Depressions, Transportation, etc. 3 hours a week ½ of a year.
3.  Principles and Methods of Finance. — Banking, National Debts, etc. 2 hours a week ½ of a year.
4.  History of Industrial Society [not given in 1883-4]. 2 hours a week ½ of a year.
5.  Financial Seminary.— History of American Finance. 2 hours a week ½ of a year. [Not given 1883-4.]

Columbia College.

Elective in one part of Senior Year.

One Term of Senior Year.

1.  Principles of Political Economy.— Elementary Course. Rogers’ Manual. 2 hours a week ½ of a year.
2. History of Politico-Economic Institutions. 2 hours a week ½ of a year.
3.  Finance and Taxation. 2 hours a week ½ of a year.
4.  Statistical Science, Methods and Results. 2 hours a week ½ a year.
5.  Communistic and Socialistic Theories. 2 hours a week ½ a year.
6.   [Topics like railways, banks etc., are placed under Administrative Law.]

Harvard University.

One half of Senior Year.

1. Rogers’ Manual One half of Junior Year 1. Elementary Course.— Mill’s Political Economy. Lectures on Banking and the Financial Legislation of the United States. 3 hours a week for a year.
2. Elective Course for Seniors: Adam Smith, Mill, Bowen. 3 hours a week for a year. 2. Advanced Course.— History of Political Economy. Cairnes, Carey, George, and recent literature. 3 hours a week for a year.
3. Investigation of Practical Questions of the Day.— Banking, Money, Bimetallism, American Shipping, Note Issues, etc. 3 hours a week for a year.
4. Economic History since the Seven Years’ War.— 3 hours a week for a year.
5. Land Tenures in England, Ireland, France, and Germany.— 1 hour a week for a year.
6. History of Tariff Legislation in the United States.— 1 hour a week for a year.
7. Comparison of the Financial Systems of France, England, Germany, and the United States.— 1 hour a week for a year. [Omitted 1884-5.]
8. History of Financial Legislation in the United States. 1 hour a week for a year.

Consider the character of the questions at this time pressing upon Congress for immediate attention. If we omit the administrative and political legislation on the civil service, the succession to the presidency, and a national bankruptcy law, the remaining questions before Congress to-day are almost entirely economic. (1.) There is, in the first place, the false silver dollar, masquerading in sheep’s clothing, and waiting to catch the unwary business world napping, when it will suddenly assume its true depreciated character, and devour fifteen or eighteen per cent of all creditor’s dues estimated at present prices. What is Congress doing here? Just what it did in the last months of 1861, when it let the country drift on to the shoals of depreciated paper. Monometallists and bimetallists, business men and bankers, are assaulting the dangerous silver legislation, and yet Congress is a very Gibraltar in which the silver owners are intrenched. (2.) Next, there is the banking question. Nothing can be more delicate and sensitive than the machinery of credit and banking in a great commercial country such as this; and yet men, to satisfy the prejudices of constituents, handle this mechanism with about the same air of cheerful indifference as that of a child who drags a rag doll round by the heels. The present national bank notes give a stability to trade in separate parts of the Union, by means of a currency equally good in Maine and Texas, never reached in the days of the vicious and changing state banks; and yet the present system is gradually vanishing before our very eyes, as calls are made for government bonds. (3.) Again, Congress is struggling with the most difficult of all problems, – national taxation. It means a reëxamination of our whole scheme of taxation, the retention of internal taxes on distilled spirits and tobacco, the management of our surplus revenue, the whole sub-treasury system; while the situation inevitably requires a readjustment of our customs duties. Duties needed in order to procure a large revenue in time of war are no longer necessary when the war is ended, and the national debt is reduced one half. (4.) There are the barbarous and mediaeval navigation laws, to which we cling with a curious indifference to the influence of all progress and liberal ideas. The problem of our shipping and merchant marine needs the touchstone of some wider training than is furnished by selfish individual interests. (5.) Our public lands and the settlement of our vast Western domain are important matters of land tenures, and yet they are abandoned to accident, while the possibilities of good disappear under the cloud of accomplished facts, where nothing can be done. It will not be long before all the public lands will be gone, and yet no notice is taken of existing evils. (6.) Then, again, one has but to mention the word “railway,” and there arises to the mind a congeries of difficult questions dealing with Western “grangers,” the ability of the state to regulate freight and passenger charges, and in fact the whole vexed discussion of state interference. Here is a field by itself, to which a man may well give his whole life-work. (7.) It would be wearisome to more than mention the topics of Postal Telegraph, Chinese Labor, Strikes, Trades Unions, and Communism, which attract our instant attention. (8.) Then again the unfortunate legal-tender decision of Judge Gray has brought back to us all the troublesome and intricate discussions on the currency which we once thought had been forever settled. As matters now stand, power is given to Congress, if it chooses, to repeat all the errors of Continental currency policy, and we are put back a century in our paper money teaching. (9.) To pass from merely internal matters, so long as we were the only civilized people on the western continent, our relations with our neighbors gave us little thought. The growth of commerce, the expansion of populous areas north and south of us, the discovery of mineral wealth outside our own limits, which invites our capital, has forced on us the consideration of reciprocity with Canada and Mexico. We have refused reciprocity to Canada; but to-day we are considering the desirability of granting closer commercial relations with Mexico, while Cuba and Porto Rico have asked the same advantages by a new treaty.

Such, in brief, are some of the subjects which must be made matter of instruction in our schools and universities. It will be observed how overwhelming a proportion of public measures at present are economic, and what a heavy responsibility lies upon our institutions of learning, if they are to meet the new demands in a fitting manner. But there is a still stronger reason for strengthening our educational forces on the economic side. This is to be found in what may be called the “economic portents.” To the present time we have been properly called a “young country,” which to the economist means an abundance of unoccupied land, a scanty population, large returns to capital, and high wages. A full knowledge of our resources has not practically been reached as yet, and will not be, probably, for a considerable time to come. These resources and the lusty health of our young country have made it possible heretofore for legislators to blunder with impunity. Constantly receiving large returns, labor and capital would not naturally be over-critical and hostile to each other. The young-country theory has also led to the encouragement of unlimited immigration, with which to settle our prairies and build up our towns. These new-comers do not, in fact, all go upon the land; but, arriving on our seaboard, instead of being drawn off entirely, they remain in the cities, like dirty pools of water in the streets. Indeed, the importation of uneducated, un-American, un-republican workmen from foreign lands is a problem in itself, and makes a strong demand upon all who can possibly do so to educate these masses, both economically and politically. Lawless communism, it is said advisedly, feeds on bad workmen. A saving mechanic is never a communist. To-day these men mean little to us; but when, by an increasing population and a denser settlement of the country, land becomes more scarce and valuable, profits on capital lower, and wages less, then even honest men, finding themselves pinched by a barrier of their own creation, brought into operation by natural laws, unless economically trained, will not know what is happening, and may in entire ignorance fly in the face of the law, and do in the United States somewhat of the things they are now doing in Europe. The day is more or less distant when this may happen, but it is coming nearer in proportion as the methods of men accustomed to conditions in old and crowded countries are brought here by a never ending stream of immigration.

The war has plunged us into the consideration of gigantic questions of an economic character, and the growth of our country in numbers and wealth is making a true understanding of them more necessary than ever to the prosperity of the nation, and a rising tide of interest in such studies is unmistakably evident. But these new and increasing demands are met by meagre and inadequate means in the great schools. It is a surprising fact that in some of the most important institutions there is no separate provision for such studies, and not even one settled instructor. Above all, we must educate in an intelligent manner, by stimulating investigation into home problems, and by encouraging the preparations of monographs on some out of the multitude of our economic questions. The best of the men in the university cannot now find a career in economic teaching, because few positions exist in this country as an object for honorable and ambitious students. Men find a profession in teaching Greek and Latin, but not Political Economy. When the community wakes up to a realization of this gap in the instruction of the land, and the importance of filling it, we may hope to see a more correct relation between means and needs than now exists.

________________________________

COLLEGE PROFESSORS AS ECONOMISTS.

Mr. J. Laurence Laughlin, in the Atlantic Monthly for April, appends his name to one of those egotistical screeds which serve to make those who teach political economy to boys contemptible in the sight of those who have occasion to practice legislative economies as practical statesman. Its fundamental assumption is that for want of the wisdom with such boys as Laughlin and Sumner possess nearly all that Hamilton, Gallatin, Chase, and Fessenden have done in America and quite all that Colbert, Napoleon, Pitt, Turgot, and Bismarck have done in Europe in an economic and financial way has been sad botchwork. Why do magazines like the Atlantic Monthly publish such ridiculous rant?

Instead of Chase and Fessenden having been in need of going to school to such vealy milksops as J. Laurence Laughlin, this college tutor shows on every page that he writes how greatly he needs the practical information which he could have got by attending for two or three years on the sessions of the Ways and Means Committee at Washington. Indeed, it is not legislators that need to be educated in economics by college professors, but college professors who need some means of picking up a few grains of sense by being brought into contact with actual legislation.

It is a singular fact that no man who has ever accepted a chair in a college as a teacher of political economy to boys has ever yet rendered any demonstrable service either to the cause of economic science or of legislation. Laughlin has the impertinence to say that, though Adam Smith wrote his “Wealth of Nations” in 1776, political economy was an unknown science to the American people before 1860. Does Mr. Laughlin mean to assert that Franklin, the intimate personal friend of Adam Smith and suggestor of some of his views, or that Hamilton, Madison, Jefferson, Clay, or Webster, Chase, Fessenden, Garfield, or “Pig Iron” Kelly are any less familiar with Adam Smith’s crudities, blunders, wisdom, and garrulous mud than Laughlin himself is? Adam Smith fell so far below Alexander Hamilton, and in many respects below Madison and Chase, in economic insight that while every commentator on Smith points out errors of fact and of theory, stupidities of ignorance and obliquities of vision on every page of the old scotch dullard and mugwump, we challenge Laughlin to point out with equal ease the ignorances and blunders in Hamilton’s economic papers or financial reports.

Adam Smith had the merit, however, of only styling his work as an “Inquiry.” It is the men who come after him who arrogate for his utterly unscientific, undefined meandering, inconsequential and self-contradictory fog-banks the quality of a science. Still Smith is helpful matter to a sensible legislator, because the latter can generally see on the face of Smith’s statements wherein the good Scotch plodder was wool-gathering, and could rectify Smith’s errors out of his own more modern and ample reading. The notion however, that Cairnes, Mill, Jevons, McLeod, Say, Lavelaye, or any other boy teachers have ever been helpful in matters of practical legislation is not warranted by facts. Ricardo was listened to with great respect by practical legislators, but he was a practical businessman like Franklin, the Careys, and Greeley, who had never undertaken the egotism of a pedagogue. The only economists America has yet produced are those who have either never or hardly ever sat in a professor’s chair. There seems to be something in the air of a school room which, if the professor remains in it until it conquers him, unfits him absolutely to mingle as a man among men in the affairs of men. It causes a cranky adoption of the most impracticable and erratic notions on the most inadequate basis of observation and fact, and at the same time inflates with a lofty and unapproachable egotism which precludes its possessor from meeting the views of an opponent with anything but epithets, however superior his opponent may be to himself in learning, experience, or sagacity. A precipitancy that has no nerves left for investigation and patience at criticism marks his every act and word. Laughlin shows this demoralizing precipitancy, so fatal to level-headed usefulness, by speaking of the silver coin, whose equal dignity with gold coin in all legal respects is irrevocably fixed in the letter of the Constitution of the United States, “as the false silver dollar,” thereby implying, of course that from 1853 to 1870, when silver happened to be worth more than gold, we must have been under a “false gold dollar.”

Laughlin also calls those navigation laws which have never existed either among barbarous or medieval nations, but which began in England under Cromwell, “barbarous and medieval.” He might as well call steam or the art of printing “barbarous and medieval.” Sensible man weary of these impudent epithets flung at them by young and graceless upstarts who have still their spurs to win in everything that distinguishes useful men from snobs.

SourceThe Inter Ocean (Chicago, Illinois) April 15, 1885, p. 4.

Image Source: Portrait (1885-88) of James Lawrence Laughlin. Harvard Art Museums/Fogg Museum, Transfer from the Carpenter Center for the Visual Arts.

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Harvard Syllabus

Harvard. Reading lists for Aggregate Economic Theory, Dorfman. 1962

 

 

“Macro-economics” was explicitly named in the course description for the Harvard undergraduate economics tutorial in 1962-63. However, not a single course included “macroeconomics” in its title. Instead graduate students were treated to “aggregate economic theory”, an early and one might argue more felicitous name than “macroeconomics”.  This post provides the reading list for Robert Dorfman’s aggregate economic theory course. During the second term of 1958-1959 the same course content was taught by Dorfman as “Economics 241. Money and Banking”.

_________________________

Course Announcement

Economics 241. Aggregate Economic Theory

Half course (fall term). M., W., (F.), at 12. Professor Dorfman.

Source: Harvard University, Faculty of Arts and Sciences. Courses of Instruction for Harvard and Radcliffe, 1962-1963, p. 106.

_________________________

Fall, 1962

HARVARD UNIVERSITY
Department of Economics

Economics 241
READING LIST NO. 1

TEXTS

J. M. Keynes. The General Theory of Employment, Interest and Money.

American Economic Association, Readings in Business Cycle Theory.

Also recommended:

Alvin H. Hansen, A Guide to Keynes

Introductory Material

A. P. Lerner, “The General Theory (1),” S.E. Harris, ed., The New Economics, Ch. 11.

L. Tarshis, “An Exposition of Keynesian Economics,” R.V. Clemence, ed., Readings in Economic Analysis, Vol. I, pp. 197-208.

Gardner Ackley, Macroeconomic Theory, Chs. II, III, IV.

U.S. Department of Commerce, National Income, 1954 Edition (Supplement to the Survey of Current Business), pp. 27-60 and skim the rest.

T.C. Schelling, “National Income, 1954 Edition,” Rev. of Econ. and Stat., XXXVII, 321-335 (November 1955).

Consumption

J.M. Keynes, General Theory. Book III.

Robert Ferber, “Research on Household Behavior,” Amer. Econ. Rev., LII, 19-63 (March 1962) .

Irwin Friend, Individuals’ Saving, Ch. 8

J.S Duesenberry, Income, Saving and the Theory of Consumer Behavior, Ch. 3.

M. Friedman, A Theory of the Consumption Function, Ch. 9, at least.

G. Haberler, “My. Keynes’ Theory of the Multiplier,” Readings in Business Cycle Theory, Ch. 9.

Fritz Machlup, “Period Analysis and Multiplier Theory,” Readings in Business Cycle Theory, ch. 10.

Investment

J.M. Keynes, General Theory, Chs. 11, 12, 16.

I. Fisher, Theory of Interest, Chs. 5-11.

A. A. Alchian, “The Rate of Interest, Fisher’s Rate of Return over Costs and Keynes’ Internal Rate of Return,” Amer. Econ. Rev., X, 938-943 (December 1955).

J.R. Meyer and E. Kuh, The Investment Decision. Chs. 2, 12.

J.S.  Duesenberry, Business Cycles and Economic Growth, Chs. 3, 5.

F. Modigliani and M.H. Miller, “The Cost of Capital, Corporation Finance and the Theory of Investment,” Amer. Econ. Rev. XLVIII, 261-297 (June 1958).

J.M. Clark, “Business Acceleration and the Law of Demand,” Readings in Business Cycle Theory, Ch. 11.

 

 

Fall, 1962

HARVARD UNIVERSITY
Department of Economics

Economics 241
READING LIST NO. 2

Interest Theory

J. M. Keynes, General Theory. Chs. 13, 14, 15, 17.

G.L.S. Shackle, “Recent Theories Concerning the Nature and Role of Interest,” Economic Journal, 71 (June 1961), 209-254.

A.P. Lerner in S.E. Harris, ed, The New Economics, Chs. 45, 46.

B. Ohlin, “Some Notes on the Stockholm Theory of Saving and Investment,” Readings in Business Cycle Theory, Ch. 5

F. A. Lutz, “The Outcome of the Saving-Investment Discussion,” ibid., Ch. 6.

W. Fellner and H.M. Somers, “Alternative Monetary Approaches to Interest Theory,” Rev. of Ec. And Stat., Feb, 1941.

T. Wilson and P.S.W. Andrews, eds., Oxford Studies in the Price Mechanism, Ch. 1.

R. W. Clower, “Productivity, Thrift, and the Rate of Interest,” Economic Journal, March 1954.

Monetary Theory

Irving Fisher, The Purchasing Power of Money, Chs. 2, 3, 8.

Alfred Marshall, “Minutes of Evidence before the Royal Commission on the Values of Gold and Silver,” Questions 9629-9664 (pp. 34-46), Question 9686 (pp. 51-52).

J.M. Keynes, A Tract on Monetary Reform, pp. 74-87.

A.C. Pigou, “The Value of Money,” in F. A, Lutz and L.W. Mints, eds., Readings in Monetary Theory, Ch. 10

W.F. Crick, “The Genesis of Bank Deposits,” ibid., Ch. 4.

H.S. Ellis, “Some Fundamentals in the Theory of Velocity,” ibid., Ch. 7.

Milton Friedman, “The Quantity Theory of Money—A Restatement,” in M. Friedman, ed., Studies in the Quantity Theory of Money, pp. 3-21.

H. Johnson, “Monetary Theory and Policy,” Am. Ec. Rev., June 1962.

W.J. Baumol, “The Transactions Demand for Cash, Quarterly Journ. of Econ., November 1952.

 

 

Fall, 1962

HARVARD UNIVERSITY
Department of Economics

Economics 241
READING LIST NO. 3

Synthesis of Aggregative Economics

J.M. Keynes, General Theory: Chs. 18, 19, 21.

Franco Modigliani, “Liquidity Preference and the Theory of Interest and Money” in Readings in. Monetary Theory, Ch. 11.

J.R. Hicks, “Mr. Keynes and the ‘Classics’” in Readings in the Theory of Income Distribution, Ch. 24.

A.C. Pigou, “The Classical Stationary State,” Economic Journal, December 1943.

Don Patinkin, “Price Flexibility and Full Employment,” American Economic Review, September 1948.

P.A. Samuelson, “The Simple Mathematics of Income Determination,” in Income, Employment and Public Policy (New York: 1948), 133-155.

D.B. Suite, “Forecasting and Analysis with an Econometric Model.” American Economic Review, March 1962.

Marc Nerlove, “A Quarterly Econometric Model for the United Kingdom,” American Economic Review, March 1962.

Aggregative Models of Economic Growth

R.P. Harrod, Towards a Dynamic Economies, Lecture 3.

E.D. Domar, Essays in the Theory of Economic Growth, Chs. 3-5.

Robert Solow, “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics, February 1956.

W.J. Baumol, Economic Dynamics, Ch. 4.

READING PERIOD ASSIGNMENT.

J. M. Keyes, The General Theory of Employment, Interest, and Money, entire.

J.G. Gurley and E.S. Shaw, Money in a Theory of Finance.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 8, Folder “Economics, 1962-1963 (1 of 2)”.

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Exam Questions Harvard

Harvard. Mid-year and Year-End Final Exams in Economics and Social Ethics, 1894-1895

 

 

With this post Economics in the Rear-view Mirror adds yet another annual collection of final examination questions for the economics courses offered at Harvard together with the questions from Professor Peabody’s “Ethics of the Social Questions” that covered issues such as poverty, labor relations, and socialism (as opposed to doctrines of individualism). In 1894-95 Frank Taussig was on sabbatical leave in Italy which accounts for his whereabouts that academic year.  Today I learned that “doctrine” was understood as a synonym for “theory” during the gay nineties, see Economics 2 (Economic Theory from Adam Smith to the present time) below.

Exams for one course taught were not included in the published collection of exams. It was Edward Cummings course Economics 14 (Philosophy and Political Economy.—Utopian Literature from Plato’s Republic to the present time). Exams for Economics 14 given in other years have been transcribed and posted.

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1894-95.
PHILOSOPHY 5.

Course Title, Staffing, and Enrollment

[PHILOSOPHY] 5. Professor [Francis G.] Peabody. — The Ethics of the Social Questions. — The questions of Charity, the Family, Temperance, and the various phases of the Labor Question, as problems of practical Ethics. — Lectures, essays, and practical observations. 2 hours.

Total 84: 1 Graduate, 40 Seniors, 15 Juniors, 3 Sophomores, 25 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 59.

 

PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS
Mid-Year Examination. 1895.

[Omit one question.]

  1. The Ethical Idealism of Plato, of Aristotle, and of Kant, compared with the modern doctrine of duty.
  2. Professor Sumner’s doctrine of the Social Fulcrum vs. the philosophy of scientific charity.
  3. Indicate, very briefly, the place in the History of Philanthropy of:

Frédéric Le Play,
Dorothea Dix,
Pastor von Bodelschwingh,
Charles L. Brace,
Samuel G. Howe.

  1. The Elberfeld System — its organization, officials, relation tomunicipal government, and practical working.
  2. The Liverpool System of Collection.
  3. Mr. Charles Booth’s eight classes of East London,— their definition, dimensions, traits, and proportion. (Labor and Life of the People, I. pp. 37-62.) Mr. Booth’s view of the children of Class E (p. 160).
  4. Compare Mr. Booth’s method and results in East London with his method and results in all London.
  5. Compare the principle as to direct relief of the London Charity Organization Society with that of the Boston Associated Charities. (Loch, Charity Organization, pp. 59, 82.) Which is the sounder principle? Why?
  6. The Belgian Labor Colonies,— their scope and method of classification. Compare their aims with those of the colonies of Holland and Germany.
  7. The Christian doctrine of the Social Order — its principles and its peril.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

PHILOSOPHY 5.
THE ETHICS OF THE SOCIAL QUESTIONS.
Year-end Examination. 1895.

  1. Explain the theory of ethics which makes the basis of this course of study; and the way in which this theory is practically illustrated by phases of the modern labor question.
  2. In what respect do the social ideals of Carlyle and Ruskin seem identical, and in what respect do they appear to be inconsistent with each other?
  3. The authorship and the significance of the following phrases:

“There is no wealth but Life…. A strange political economy; the only one, nevertheless, that ever was or can be.”

“I am for permanence in all things. Blessed is he that continueth where he is.”

“The gospel of dilettantism.”

“Roots of honour.”

“Ricardo is the parent of Socialism.”

“The value of a thing is independent of opinion and of quantity.”

“The reformation was the work of a monk; the revolution must be the work of a philosopher.”

“The people are the Rock on which the Church of the future must be built.”

  1. The practical programme proposed by Scientific Socialism; the chief advantages claimed for it by its adherents; and the criticisms on it which appear to you most serious. Utilize here your reading of Naquet and The Social Horizon.
  2. Socialism and Religion. The apparent grounds for sympathy and the practical reasons for antagonism. The teachings concerning socialism in the Encyclical of 1891.
  3. The philosophy of history which encourages the Socialist, and the “Opportunist’s” view of this “Law” of social evolution.
  4. The growth of Trades Unionism in Great Britain, and its contribution to moral education.
  5. Federalism and Individualism in English Coöperation. The issue involved, and the advantages of each scheme of expansion.
  6. Compare the characteristics of the forms of Liquor Legislation in force in Massachusetts and in Pennsylvania. (Fanshawe, XI, XII.) How are licenses granted under the Brooks Law? What is the function of probation-officers in Massachusetts?
  7. How far do physiological considerations go to determine one’s duty as to drink?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 6-7.

__________________

1894-95.
ECONOMICS 1.

Course Title, Staffing, and Enrollment

[ECONOMICS] 1. Professor [William] Ashley, Asst. Professor [Edward] Cummings, Dr. [John] Cummings, and Mr. [Frederick Redman] Clow. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours.

Total 277: 2 Graduates, 39 Seniors, 18 Juniors, 159 Sophomores, 9 Freshmen, 50 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 1.
Mid-Year Examination. 1895.

[Arrange your answers strictly in the order of the question. One question may be omitted.]

  1. “All members of the community are not laborers, but all are consumers, and consume either unproductively or productively.” Explain and illustrate by examples. Suppose everybody resolved to consume “productively” only, what would be the result?
  2. “The distinction, then, between capital and not-capital, does not lie in the kind of commodities, but in the mind of the capitalist — in his will to employ them for one purpose rather than another.” Discuss this statement, using the following illustrations:—

Bread.
A knitting machine.
A steam engine.
A carriage.

  1. Where does true economic rent appear in the following cases:—

(a) The cultivation of a farm by its owner.
(b) The rental of a farm under a long lease by a tenant who has made permanent improvements on the land.

  1. What is the effect on values of a general fall of profits? Of a general fall of wages?
  2. What is the effect on rents of (1) an improvement in the methods of agriculture, (2) an improvement in transportation?
  3. “The price of land, mines, and all other fixed sources of income, depends on the rate of interest.” Explain.
  4. According to Mill, “Every addition to capital gives to labor either additional employment, or additional remuneration.” Why? What is the effect of an increase of labor-saving machinery on employment and on remuneration? Illustrate carefully.
  5. “Money cannot in itself perform any part of the office of capital, since it can afford no assistance to production.” Do you agree or disagree? Why? Is money capital? Is credit money? Is credit capital?
  6. What does Mill mean by “stationary state”? And what changes would bring about a progressive state?
  7. What would be the effect on prices of (1) adding to a gold and silver currency a small issue of inconvertible paper money, (2) the discovery of very rich gold fields?
  8. What do you understand by the Domestic system? By Competition? By Labor?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

ECONOMICS 1.
Year-end Examination. 1895.

(Arrange your answers strictly in the order of the question. Omit three of the even numbers: answer all others.)

  1. “We must suppose the entire savings of the community to be annually invested in really productive employment within the country itself; and no new channels opened by industrial inventions, or by more extensive substitution of the best known processes for inferior ones.” How would profits be affected supposing population (a) to remain stationary; (b) to increase in proportion to the increase in capital?
  2. The operations, therefore, of speculative dealers, are useful to the public whenever profitable to themselves; and although they are sometimes injurious to the public, by heightening the fluctuations which their more usual office is to alleviate, yet, whenever this happens the speculators are the greatest losers. Explain Mill’s reasoning.
  3. Mill says of the stationary state, “I am inclined to believe that it would be, on the whole, a very considerable improvement on our present condition.” Why? Explain carefully.
  4. Is there a necessary hostility of interests between consumers organized in co-operative associations and producers organized in trade unions?
  5. Describe the different results obtained in co-operation by distributing profits in the form of dividend (a) on capital, (b) on labor (in proportion to wages), (c) on purchases. Illustrate by the experience of co-operation in France and England.
  6. How do you distinguish between what Mill calls the necessary and the optional functions of government?
  7. “We have had an example of a tax on exports, that is, on foreigners, falling in part on ourselves. We shall therefore not be surprised if we find a tax on imports, that is, on ourselves, partly falling on foreigners.” Explain carefully each case, tracing the possible effects upon prices and international trade of taxes (a) upon exports; (b) upon imports.
  8. “Equality of taxation, therefore, as a maxim of polities, means equality of sacrifice.” Apply this maxim to a tax on incomes.
  9. Suppose a tax of a fixed sum per bushel to be laid upon corn; what would be the effect (a) upon prices; (b) upon population; (c) upon profits; (d) upon rents?
    How would the results differ if instead of a fixed sum per bushel the tax were…

(i) …a fixed proportion of the produce;
(ii) …proportioned to the rent of the land;
(iii) …a fixed sum of so much per cultivated acre? Explain carefully each case.

  1. Describe the kinds of currency used in the United States, indicating briefly the conditions of issue in each case.
  2. Explain the causes and effects of (a) combined reserves, (b) a suspension of the Bank Charter Act in England.
  3. What are the provisions of the law in regard to the issue of bank notes at the present day in England? In Germany?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 33-34.

__________________

1894-95.
ECONOMICS 2.

Course Title, Staffing, and Enrollment

[ECONOMICS] 2. Professors Ashley and [Silus Marcus] Macvane. — Economic Theory from Adam Smith to the present time. — Selections from Adam Smith and Ricardo. — Modern Writers. — Lectures. 3 hours.

Total 34: 9 Graduates, 14 Seniors, 6 Juniors, 1 Sophomores, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 2.
Mid-Year Examination. 1895.

N.B.—Not more than seven questions must be attempted.

  1. “The study which lately in England has been called Political Economy is, in reality, nothing more than the investigation of some accidental phenomena of modern commercial operations, nor has it been true in its investigation even of these. It has no connection whatever with political economy, as understood and treated of by the great thinkers of past ages; and as long as its unscholarly and undefined statements are allowed to pass under the same name, every word written on the subject by those thinkers—and chiefly the words of Plato, Xenophon, Cicero, and Bacon—must be nearly useless to mankind” (Ruskin, Munera Pulveris). Consider some or all of these assertions.
  2. Give a brief account of the Physiocrat doctrine, and state to what extent it was “corrected” by Adam Smith.
  3. Explain the origin and content of Adam Smith’s conception of “Nature.”
  4. “A diamond has scarcely any value in use.” Consider this statement in its relation to the discussion since Adam Smith’s time of the doctrine of Value.
  5. How does the doctrine of Rent expounded by Adam Smith agree with, and differ from, that of Ricardo?
  6. Compare Adam Smith’s “natural rate of wages” with Ricardo’s “natural price of labour.”
  7. “Population tends to outstrip the means of subsistence.” Distinguish the various meanings assignable to this phrase, and indicate which was meant by Malthus.
  8. What does Adam Smith understand by “Capital”? Compare his conception with that of John Stuart Mill.
  9. Present a critical estimate—based upon your own study—of one of the following:

1. Ingram, History of Political Economy.
2. Price, Political Economy in England.
3. Cossa, Introduction to the Study of Political Economy.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

ECONOMICS 2.
Year-end Examination, 1895

Answer at least four, but not more than six, of the following questions:

  1. What is the economic source of Interest? Examine the proposition that “interest is the price paid for the use of capital.”
  2. State briefly your conclusions as to the law of general wages.
  3. Apply the Austrian theory of wages to the following case:
    Number of laborers 1,000,000; total subsistence fund $600,000,000; scale of increase of productiveness of labor as the “productive period” is lengthened from one year to seven years: $350, $450, $530, $580, $620, $650, and $670.
  4. How, in your opinion, are the profits of employers determined? What is your conclusion as to the function, in distribution, of the so-called “no profits employers.”
  5. Discuss the following passages:
    “This National Dividend is at once the aggregate Net product of, and the sole source of payment for, all the agents of production within the country: it is divided up into Earnings of labour, Interest of capital, and lastly the Producer’s Surplus, or Rent, of land and of other differential advantages for production. It constitutes the whole of them and the whole of it is distributed among them.”
    “The proposal to put rent aside while we are considering how earnings and interest are determined, has been found to suggest that rent is determined first and then takes part in determining earnings and interest; and this is, of course, the opposite of what really occurs.”
  6. It has been said that Mill expresses his meaning badly when he said that demand for commodities is not a demand for labor. Does the proposition seem to you to need revision!
  7. Does increase of saving tend to make the supply of goods outrun the demand for goods?
  8. Examine the doctrine that the exchange value of commodities is determined by marginal utility.
  9. Past and present relations between gold and silver.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” p. 35.

__________________

1894-95.
ECONOMICS 3.

Course Title, Staffing, and Enrollment

[ECONOMICS] 3. Asst. Professor Cummings. — The Principles of Sociology. — Development of the Modern State, and of its Social Functions. 2 hours.

Total 52: 10 Graduates, 30 Seniors, 4 Juniors, 3 Sophomores, 5 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 3.
Mid-Year Examination. 1895.

Answer the questions in the order in which they stand. Omit three questions.

  1. State accurately the reading you have done in this course to date.
  2. “But now let us drop the alleged parallelism between individual organizations and social organizations. I have used the analogies elaborated but as a scaffolding to help in building up a coherent body of sociological inductions. Let us take away the scaffolding: the inductions will stand by themselves.” What are these inductions?
  3. “The family relinquishes one provisional and temporary function after another; its only purpose being to fill gaps in social offices, it made way for independent institutions … as soon as these institutions arose.” Explain and illustrate. How far would Spencer assent to this doctrine?
  4. “Most anthropologists who have written on prehistoric customs believe, indeed, that man lived originally in a state of promiscuity or ‘communal marriage’; but we have found this hypothesis is essentially unscientific.” Discuss the evidence.
  5. “The status of children, in common with that of women, rises in proportion as the compulsory coöperation characterizing militant societies, becomes qualified by the voluntary coöperation characterising industrial societies.” Why? Trace the rise, and illustrate.
  6. “These three distinct states of mind, all of which, in point of fact, are admitted to exist together at the present time, and perhaps to have always done so to a greater or less extent, Comte declares to have undergone a regular progressive movement in the history of society. There have been three successive epochs, during which these philosophic principles, each in its turn, preponderated over both the others and controlled the current of human events.” Explain.
  7. “So that as law differentiates from personal commands, and as morality differentiates from religious injunctions, so politeness differentiates from ceremonial observance. To which I may add, so does rational usage differentiate from fashion.” Explain and illustrate.
  8. How does Spencer account for the diverse types of political organization; and what influences determine the order in which they arise? Illustrate.
  9. “From the Evolution-standpoint we are thus enabled to discern the relative beneficence of institutions which, considered absolutely, are not beneficent; and are taught to approve as temporary that which, as permanent, we abhor.” Explain and illustrate. Does our idea of progress then include all social changes?
  10. “In all ways, then, we are shown that with this relative decrease of militancy and relative increase of industrialism, there has been a change from a social order in which individuals exist for the State, to a social order in which the State exists for individuals?” Explain and illustrate.
  11. According to Spencer, what are likely to be the future forms of political organization and action in societies that are favorably circumstanced for carrying social evolution to its highest stage?
  12. “At bottom this is a physical explanation, and Spencerian sociology in general, whether formulated by Mr. Spencer or by other writers under the influence of his thought, is essentially a physical philosophy of society, notwithstanding its liberal use of biological and psychological data.” Do you agree or disagree? Why?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

ECONOMICS 3.
Year-end Examination

[Answer the questions in the order in which they stand. Omit one question.]

  1. State accurately the reading you have done in this course to date.
  2. What has been the function of religion in social evolution? (Compare Spencer and Kidd.) Do you find reasons for thinking society will become more religious?
  3. “The only conclusion to which we are brought by this prolonged examination of authorities is that community of land has not yet been historically proved.” Discuss the evidence.
  4. “And as of old, Society and State tend to coincide, political questions to become identical with social questions.” Discuss the historical changes and tendencies in question. Distinguish carefully between Society, the State, the Government, the Nation.
  5. “It is becoming clear that, when people speak of natural rights of liberty, property, etc., they really mean, not rights which once existed and have been lost, but rights which they believe ought to exist, and which would be produced by a condition of society and an ordering of the State such as they think desirable.” Explain. How far do changes in the theory and practice of penal legislation substantiate this view?
  6. “The gulf between the state of society towards which it is the tendency of the process of evolution now in progress to carry us, and socialism, is wide and deep.”
    “The Individualism of the past is buried, and the immediate future is unmistakably with a progressive Socialism, the full extent of which no man can get see.” Discuss carefully the facts and theories upon which these opposing views are based.
  7. “The philanthropic and experimental forms of socialism, which played a conspicuous rôle before 1848, perished then in the wreck of the Revolution, and have never risen to life again.” What were the characteristics of these earlier forms; and what was their relation to the movements which preceded them and followed them?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 35-36.

__________________

1894-95.
ECONOMICS 5.

Course Title, Staffing, and Enrollment

[ECONOMICS] 52. Mr. George Ole Virtue. — Railway Transportation. — Lectures and written work. 3 hours. 2d half-year.

Total 21: 2 Graduates, 10 Seniors, 6 Juniors, 1 Sophomores, 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 5.
Year-end Examination. 1895.

  1. Sketch the railroad history of France.
  2. “The [Reilly] bill now before Congress proposes to extend the debt for another fifty years and a grand opportunity will thus be let slip for trying, under the most favorable circumstances, an experiment whose possibilities no man can measure.”
  3. What legislation can you suggest for improving the relations between the different classes of owners of railway capital? For the protection of the interests of investors in railway capital generally?
  4. State briefly the significance in railway history of the following cases: Munn v. Illinois; Wabash, etc. Ry. Co. v. Illinois; Ames v. U. P. Ry. Co.; Budd v. New York; In re Louisville & Nashville; The Denaby Main Colliery Case.
  5. Choose one:

(a) The bearing upon the making of rates, of the “cost of service”; “value of service”; “charging what the traffic will bear”; “joint cost.”
(b) “Group rates,” “equal mileage rates,” “the blanket rate,” “the postage rate,” “Wagen-raum tarif,” “differentials.”
(c) A “reasonable rates.”

  1. Recount the experience which has led the Interstate Commerce Commission to recomment an amendment to the Act to Regulate Commerce: (a) Construing the meaning of “the word ‘line’ when used in the act to be a physical line and not a business arrangement”; (b) relieving “shippers and individuals not connected with railway employment from liability to fine and imprisonment under Section 10,” with certain exceptions.
  2. What would be the probable effect of giving the Commission power to prescribe minimum as well as maximum rates? Would it obviate the necessity now claimed for pooling?
  3. “When the first bill to regulate commerce was passed the great and powerful wedge of State socialism, so far as government control of railroads is concerned, was driven one-quarter of its length into the timber of conservative government. … The pending bill, [the pooling which passed the House at the last session is referred to] the moment it becomes a law, will drive the wedge three-quarters of its length into the timber.”
    Give your reasons for agreeing or disagreeing with each of the above statements.
  4. What conclusions on the question of public management can you draw from the experience of the states in the internal improvement movement?
  5. Why is it peculiarly true in railway business that “competition must end in combination”?
  6. The success of the State Railroad Commissions and suggestions for increasing their efficiency.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 36-37.

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1894-95.
ECONOMICS 71.

Course Title, Staffing, and Enrollment

[ECONOMICS] 71. Professor [Charles F.] Dunbar. — The Theory and Methods of Taxation, with special reference to local taxation in the United States. 3 hours. 1st half-year.

Total 28: 6 Graduates, 11 Seniors, 9 Juniors, 2 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 71.
Mid-year Examination. 1895.

  1. What is the “Benefit Theory” of taxation? What is the “Faculty Theory”? Define “Faculty” as used in this expression.
  2. What are the leading points of difference between the English, Prussian and American income tax systems?
  3. What reasons are there for having income tax levied by national authority rather than local? To what extent, if at all, do these reasons apply also to a general property tax?
  4. In levying a general property tax, should the debts of the taxpayer be deducted from the property held by him?
  5. By what reasoning is it maintained that,—
    “When the local real estate tax is levied according to rental value and assessed in the first instance on the occupier, as is the case in England, the main burden of the tax will rest ultimately on the occupier, not the owner of the premises.”
    Will the same reasoning apply to the income tax on rent, assessed under Schedule A., and collected from the occupier?
  6. What are the leading points of difference between the German method of taxing distilled liquors and the method practised in England and the United States?
  7. The theories of Canard, Thiers and Stein are,—
    “That every tax is shifted on everybody — that every consumer will again shift the tax on a third party, and that this third party who is again a consumer will shift it to someone else — and so ad infinitum. And since everyone is a consumer, everyone will bear a portion of the taxes that everybody else pays.”
    Professor Seligman’s comment is that “the error of this doctrine lies in the failure to distinguish between productive and unproductive consumption.” Is this answer complete? If not, wherein does it fail?
  8. In a statement of the circumstances under which a tax may or may not be capitalized, it is said,—
    “The principle would not apply to special taxes on property or profits if the capital value of this class of commodities should for any other reason fluctuate in price. For example, if a special tax were levied on government securities it might nevertheless happen that if some reason confidence in government bonds, as over against general securities, might decrease to such an extent as to counterbalance the decreased returns from the investment. In such a case there would be no capitalization of the tax.”
    What criticism have you to make on this reasoning?
  9. Can the theory of progressive taxation be satisfied by a gradually decreasing rate of progression [“degressively progressive taxation”]. or does it require a rate which shall cut off all income or accumulation above a certain level?
  10. What practical difficulties does the taxation of real estate offer in shaping a system of progressive taxation?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 37-38.

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1894-95.
ECONOMICS 72.

Course Title, Staffing, and Enrollment

[ECONOMICS] 72. Professor Dunbar. — Financial Administration and Public Debts. 3 hours. 2d half-year.

Total 28: 7 Graduates, 11 Seniors, 9 Juniors, 1 Sophomores.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 72.
Year-end Examination

[Spend an hour on A, and the remainder of the time on B.]

A.

  1. Give an account of the management of the English debt in the decade 1880-90.
  2. Do “sound rules of finance” demand that the principal of the debt or the rate of interest shall be determined by the government? that securities shall never be issued below par? that a government shall not buy in its securities at a premium?

B.

  1. How far, if at all, is the government justified in pledging itself to any fixed policy of debt payment?
    How may the policy of conversation conflict with the policy of debt payment?
  2. Give an account of the United States refunding operations in the decade 1865-75.
  3. Discuss the respective powers of the Secretary of the Treasury of the United States, the Chancellor of the Exchequer in Great Britain, the minister of finance in France.
    In each case where does the responsibility for the financial policy of the government rest?
  4. Give an account of the creation of Pit’s sinking fund and of the successive modifications made in the sinking fund provisions down to 1803.
  5. Discuss the various methods of placing government securities in the market, and the conditions of contract which make one form of security more attractive to buyers than another.
  6. The United States 4 per cent. 30-year bonds are quoted at about 123¼; how is the present worth of these securities determined?
    What determines the present worth of a terminable annuity? of a perpetual annuity? of a life annuity?
  7. Discuss the manner of making up the estimates of public income and expenditure in Great Britain and in France; the manner of providing for any deficits which may occur in any department during the year; the manner of providing for carrying on the government where the enactment of the budget is delayed until after the beginning of the year; and the disposal of balances unexpended at the end of the year.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” p. 39.

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1894-95.
ECONOMICS 8.

Course Title, Staffing, and Enrollment

[ECONOMICS] 81. Professor Dunbar. — History of Financial Legislation in the United States. 2 hours.

Total 52: 5 Graduates, 22 Seniors, 22 Juniors, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 8.
Mid-Year Examination. 1895.

  1. Hamilton is sometimes said to have favored the policy of perpetual debt, and Gallatin, on the other hand, to have established the policy of debt-payment. How far are these statements confirmed by the measures of Hamilton and Gallatin respectively?
  2. How far should you say that Hamilton was justified in his expectation (stated in the Report on Public Credit), (1) That the public debt, if properly funded, would answer most of the purposes of money, and (2) that it would increase the amount of capital for use in trade and lower the interest of money?
  3. When were the several classes of obligations in which the revolutionary debt was funded finally paid off?
  4. Was it fortunate or unfortunate that Congress did not adopt Madison’s policy as to a United States Bank in January, 1815? Why?
  5. Give a list, with dates, of the cases in which bills for establishing a United States Bank have been vetoed.
  6. Give as complete a chronology as you can of the events connected with the Bank, from President Jackson’s first attack upon it down to its final failure.
  7. The removal of the deposits is sometimes spoken of as a fatal blow to the United States Bank. What do you gather from your reading as to its importance as regards the business position or credit of the Bank?
  8. What was the Specie Circular of 1836, and what serious financial results did it produce?
  9. What led to the adoption of the National Bank system in 1863?
  10. How would it have eased the financial difficulty in 1861, if the Secretary of the Treasury had made more free use of his authority, under the act of August 5, for suspending some of the provisions of the Independent Treasury act?
  11. The earlier legal-tender acts provided for funding the notes, at the pleasure of the holder, in United States bonds. When and why was this privilege of funding withdrawn? What would probably have been the effect if it had been retained until the close of the war?
  12. What were the steps by which the legal tender issues came to be treated as the practically permanent element in our paper currency and to be fixed in amount?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

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1894-95.
ECONOMICS 9.

Course Title, Staffing, and Enrollment

[ECONOMICS] 9. Asst. Professor Cummings. — The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 79: 3 Graduates, 34 Seniors, 31 Juniors, 5 Sophomores, 6 Others.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 9.
Mid-Year Examination, 1895.

(Arrange your answers, in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries.)

  1. State accurately the reading you have done in this course to date.
  2. “The interests of the working classes are identical in all lands governed by capitalist methods of production. The extension of the world’s commerce and production for the world’s markets, make the position of the workman in any one country daily more dependent upon that of the workmen in other countries.” Why? Explain how in the history of trade unions this community of interest among workmen, not only of the same trade and the same country but of different trades and different countries, has actually manifested itself. Illustrate.
  3. Precisely what answer to the “lump of labor” theory is to be drawn from that version of the wage-fund doctrine adopted by Mill, by Walker, by yourself?
  4. How far has the theory and the practice of coöperation offered a complete remedy for the evils of the existing industrial organization? and at precisely what points has the theory and the practice broken down? Illustrate carefully.
  5. “The struggle of the working classes against capitalist exploitation must of necessity be a political struggle.” How far does the history of trade unions and of coöperation show a tendency in this direction? Illustrate carefully.
  6. “But above all things, observe that all types of piece wage, whether single or progressive, and whether individual or collective, possess this most marked superiority over Profit-sharing.” … “At the same time, it is right to remark that there are many cases, in which the method of Profit-sharing surpasses in important respects any form of the ordinary wage-system.” Explain carefully the grounds of the alleged inferiority and superiority in each case.
  7. “Before, therefore, the trade union can realize its policy of ‘collective bargaining,’ it must solve the two-fold problem – how to bind its own constituents, and how to obtain the recognition of employers.” By what methods have trade unions endeavored to solve this problem? Illustrate.
  8. Trace the successive stages of the so-called “industrial revolution” during the last hundred and fifty years.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

ECONOMICS 9.
Year-end Examination. 1895.

[Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by statistical and descriptive matter showing the relative condition of working people in the United States and in other countries.]

I.

State accurately the reading you have done in this course since the mid-year examinations.

II.

Devote three hours to a careful discussion of the merits and defects of the German system of compulsory insurance, under the following general heads:

  1. An accurate account of the origin, scope, organization, administration of the system in Germany, — stating approximately the numbers insured, the cost of insurance to all parties concerned, the benefits provided, the methods of collection, distribution, etc.;
  2. Difficulties, opposition, and criticisms thus far encountered;
  3. Progress of similar movements towards compulsory insurance in other countries;
  4. Facts bearing upon the adequacy of existing provisions for sickness, accident, old age in England and the United States;
  5. A biographical sketch showing at what age and in what respects the State already interferes to prescribe conditions of employment, education, etc., for operatives reared from childhood to old age in the factory system of Massachusetts: showing also the additional interference which would be involved in the adoption of the German system of compulsory insurance;
  6. Conclusion.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” p. 40.

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1894-95.
ECONOMICS 10.

Course Title, Staffing, and Enrollment

[ECONOMICS] 10. Professor Ashley. — The Elements of Economic History from the Middle Ages to Modern Times. 2 hours.

Total 61: 9 Graduates, 20 Seniors, 21 Juniors, 10 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1894-1895, p. 62.

 

ECONOMICS 10.
Mid-Year Examination. 1895.

I. To be first attempted by all.

Translate, and comment on, the following passages:

  1. Quomodo vocatur mansio; quis tenuit eam T. R. E.; quis mod tenet; quot hidae; quot carrucae in dominio; quot hominum; quot villani; quot cotarii; quot servi; quot liberi homines; quot sochemanni.
  2. De virgis operantur ii diebus in ebdomada.
  3. Rex. . . destinavit per regnum quos ad id prudentiores.. . . cognoverat, qui circumeuntes et oculata fide fundos singulos perlustrantes, habita aestimatione victualium quae de hiis solvebantur, redegerunt in summam denariorum.
  4. Interiors plerique frumenta non serunt, sed lacte et carne vivunt, pellibusque sunt vestiti.
  5. Ideo rogamus, sacratissime imperator, subvenias. . . . ademptum sit jus etiam procuratoribus, nedum conductori, adversus colonos ampliandi partes agrarias.
  6. Arva per annos mutant et superest ager.
  7. Ego Eddi episcopus terram quae dicitur Lantocal tres cassatos Heglisco abbati libenter largior.
  8. Rex misit in singulos comitatus quod messores et alii operarii non plus caperent quam capere solebant.
  9. Noveritis nos concessisse omnibus tenentibus nostris . . . . quod omnia praedicta terrae et tenementa de cetero sint libera, et liberae conditionis.

II. Write on two only of the following subjects.

  1. The reasons for believing in the survival in Britain of the Roman agrarian organisation.
  2. A comparison, from the economic point of view, of the open-field system with modern methods of farming.
  3. The condition of the tillers of the soil in England in A.D. 1381 as compared with A.D. 1066.

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 3. Bound volume Examination Papers, Mid-Year 1894-95.

 

ECONOMICS 10.
Year-end Examination. 1895.

I.
[To be first attempted by all.]

TRANSLATE, and comment on, the following passages:—

  1. In Kateringes sunt x. hidae ad geldum Regis. Et de istis
  2. hidis tenent xl. villani xl. virgas terrae. … Et omnes isti homines operantur iiibus diebus in ebdomada.
  3. Agriculturae non student; majorque pars eorum victus in lacte caseo carne consistit; neque quisquam agri modum certum aut fines habet proprios; sed magistratus ac principes in annos singulos gentibus cognationibusque hominum qui una coierunt, quantum et quo loco visum est agri attribuunt atque anno post alio transire cogunt.
  4. Nul ne deit rien acheter a revendre en la vile meyme, fors yl serra Gildeyn.
  5. Cives Londoniae debent xl marcas pro Gilda Telaria delenda; ita ut de cetero non suscitetur.
  6. Johannes Hore mortuus est, qui tenuit de domino dimidiam acram terrae cujus heriettum unus vitulus precii iiii d. Et Johanna soror dicti Johannis est proximus heres, quae venit et gersummavit dictam terram tenendam sibi et suis in villenagio ad voluntatem per servicia et consuetudines.

II.
[Write on four only of the following subjects.]

  1. “I contend that from 1563 to 1824, a conspiracy, concocted by the law and carried out by parties interested in its success, was entered into, to cheat the English workman of his wages, to tie him to the soil, to deprive him of hope, and to degrade him into irremediable poverty.” Consider this.
  2. Discuss the question whether the statute of 5 Eliz. c. 4, displays any distinct economic policy.
  3. Explain the causes, nature and consequences of the change in commercial routes in the sixteenth century.
  4. What is meant by a national economy, as contrasted with a town economy? Illustrate from European conditions in the 15th and 16th centuries.
  5. What has been the economic gain to England from immigration?
  6. Mention briefly those respects in which the economic development of England has resembled that of Western Europe, and those respects in which it has been peculiar.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 4. Bound volume: Examination Papers, 1893-95. “Papers Set for Final Examinations in Philosophy, History, Government and Law, Economics Fine Arts, Architecture, and Music in Harvard College, June, 1895,” pp. 40-41.

 

 

Categories
Economists Gender Harvard Radcliffe

Radcliffe. Economics Ph.D. alumna, Rosemary Coward Griffith, 1961

Economics in the Rear-view Mirror is interested not merely in the lives of prominent economists, but also in sampling the lives and careers of the vast majority of trained professional economists. Sometimes the careers have been cut short, as was the case of Radcliffe graduate Rosemary Coward Griffith who died three years after receiving her Radcliffe Ph.D. Many of the details for this post come from documents easily accessible through the genealogical website ancestry.com but also from the website newspapers.com.

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Born in Texas

Rosemary Coward was born 16 August 1927 in Dallas, TX to parents Allen C. Coward (dentist) and Georgia Coward née Hurt.

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First Marriage

Married to Jack D. Summerfield June 1, 1947.  They were divorced in Marion County, Alabama in April 1957. He later worked as a producer for WGBH (Radio/television) in Boston, MA.

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Undergraduate degree

Rosemary Summerfield was admitted to Phi Beta Kappa at the University of Texas, Austin. Class of June 1948.

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Correspondence with John Kenneth Galbraith

In John Kenneth Galbraith’s papers at the John F. Kennedy Library, Box 34, General correspondence “Griffith, Rosemary Coward Summerfield. 19 May 1954 to 26 March 1955.”

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Marriage to Charles Ray Griffith

From The Santa Fe New Mexican, October 23, 1959:

Reported that the two new residents of Santa Fe were married September 12, 1959 at Appleton Chapel, Harvard University. Charles Griffith was appointed to the staff of the state Health Department, Division of Mental Health. He received his Ph.D. in cultural anthropology at Harvard.

Note: This was his second marriage. His first marriage (September 15, 1948) to Katherine Perry apparently ended in divorce, she married Raymond A. Bowman in 1957.
After Rosemary’s death Charles Ray Griffith Married associate professor of nursing at the University of New Mexico (The Santa Fe New Mexican May 29, 1966). It is worth noting that she is not mentioned in his obituary (Albuquerque Journal, May 2, 1999) whereas his first two wives were.

The Santa Fe New Mexican reported July 2, 1964 that Charles R. Griffith would resign effective August 31 to accept an appointment at the University of New Mexico College of Education as associate professor in education and research anthropologist.

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Ph.D. CONFERRED IN 1960-61

DOCTOR OF PHILOSOPHY
Rosemary Coward Griffith, B.A.

Subject: Economics.
Dissertation: “Factors Affecting Continental United States Manufacturing Investment in Puerto Rico.”

Source: Radcliffe College. Report of the President,  1960-61, p. 80.

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Probably Last Job

From The Albquerque Tribune of May 29, 1953 (page 11). In an article about recent developments at the University of New Mexico.

Contracts have also been approved for Rosemary Griffith as temporary assistant professor of economics.

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Hospitalized about six weeks before her death

From The Santa Fe New Mexican, March 23, 1964:

Mrs. Rosemary Griffith, 1934 Kiva Rd. admitted to hospital

From The Santa Fe New Mexican, March 23, 1964:

Dismissed from Hospital. Mrs. Rosemary Griffith.

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Funeral Notice

From The Santa Fe New Mexican, May 14, 1964:

Funeral Service to be held Friday [May 15, 1964]. Cremated remains to Memorial Gardens.

Categories
Chicago Economists Harvard

Harvard. Course Transcript of economics Ph.D. alumnus (1922), Jacob Viner

 

Besides the collection and careful transcription of historical course syllabi and examination questions from leading centers of economics education in the United States, Economics in the Rear-view Mirror also shares information on the structure of undergraduate and graduate economics programs as well as the granular detail found in the transcripts of individual students. 

Recently I posted the Harvard graduate transcript of Edward Chamberlin. Today’s post provides us the Harvard course record of that economist’s economist, Jacob Viner, later of Chicago and Princeton fame.

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THE GRADUATE SCHOOL OF ARTS AND SCIENCES
Record of Jacob Viner

Years: 1914-15, 1915-16

 

[Previous] Degrees received.

A.B. McGill 1914

First Registration: 28 Sept. 1914

1914-15

Grades

First Year Course

Half-Course

Economics 11

A

Economics 12

A-

Economics 17

A

Economics 33 (full)

A

Economics 34

B+

German A

B+

Division: History, Government, & Economics
Scholarship, Fellowship: University
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year: A.M.

 

1915-16

Grades

Second Year Course

Half-Course

Economics 2a1

A-

Economics 2b2

abs.

Economics 81

A

Economics 14

“excused”

Economics 18a2

cr. for[…]

Economics 31

“exc.”

Philosophy 182

abs.

Philosophy 25a1

A-

Division:
Scholarship, Fellowship: Henry Lee Memorial
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degree attained at close of year:  Ph.D. 1922 (Feb.)

Source: Harvard University Archives. Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Sun—Walls (UAV 161.2722.5). File I, Box 14, Record Card of Jacob Viner.

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Courses Names and Professors

1914-15

Economics 11. Economic Theory. Professor Taussig.

Economics 121. (half course) Scope and Methods of Economic Investigation. Professor Carver.

Economics 17. Economic Theory: Value and Related Problems. Assistant Professor B.M. Anderson, Jr.

Economics 33. International Trade and Tariff Problems in the United States. Professor Taussig

Economics 34. Problems of Labor. Professor Ripley.

German A. Elementary Course (prescribed for students who cannot show that they have a satisfactory knowledge of Elementary German)

1915-16

Economics 2a1. European Industry and Commerce in the Nineteenth Century. Professor Gay, assisted by Mr. A.H. Cole and Mr. Ryder.

Economics 2b2. Economic and Financial History of the United States. Professor Gay, assisted by Mr. A.H. Cole and Mr. Ryder.

Economics 81. Principles of Sociology. Professor Carver, assisted by Mr. Bovingdon.

Economics 14. History and Literature of Economics to the year 1848. Professor Bullock.

Economics 18a2. Analytical Sociology. Asst. Professor Anderson.

Economics 31. Public Finance. Professor Bullock.

Philosophy 182. Present Philosophical Tendencies. A brief survey of contemporary Materialism, Pragmatism, Idealism, and Realism.

Philosophy 25a1. Theory of Value. Professor R.B. Perry.

Sources: Harvard University, Faculty of Arts and Sciences. Course of instruction. 1879-2009; Harvard University. Report of the President of Harvard College, 1826-1995.

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Ph.D. in Economics Awarded 1922

Jacob Viner, A.B. (McGill Univ.) 1914, A.M. (Harvard Univ.) 1915.

Subject, Economics. Special Field, International Trade. Thesis, “The Canadian Balance of International Indebtedness, 1900-1913.”
Assistant Professor of Political Economy, University of Chicago.

Source: Harvard University. Report of the President of Harvard College, 1921-1922, p. 65.

Image Source: Jacob Viner (pipe smoker in the center) playing cards with Messrs. Grabo, Prescott, and Ralph Sanger (mathematician).  University of Chicago Photographic Archive apf1-08487, Special Collections Research Center, University of Chicago Library.

Categories
Exam Questions Harvard Socialism Suggested Reading Syllabus

Harvard. The Soviet Economy, course outline and final exam. Herbert Levine, 1963

 

Herbert Levine was trained in economics and Russian studies at Harvard before going off to lifetime employment at the University of Pennsylvania. He returned to Harvard in the fall term of 1963 to cover the Soviet economy class for Abram Bergson who was on leave at the Center for Advanced Study of the Behavioral Sciences at Stanford in 1963-64.

 Along with a younger economist from the University of Texas, Ed Hewett, Levine championed my application to the International Research and Exchanges Board (IREX) for a research exchange fellowship in the German Democratic Republic back in the late 1970s. He was a mentor to many other young scholars working on the economies of the Soviet Union and Eastern Europe. I last saw him in November 2003 at an economics workshop at Harvard where drafts of papers were presented that would later be published in a special issue edited by Paul R. Gregory and Marshall Goldman in honor of Abram Bergson (Comparative Economic Studies, 2005).

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Obituary in The Daily Pennsylvanian

Former economics prof. leaves a legacy
47-year teacher is remembered fondly for his compassion and challenging courses

https://www.thedp.com/article/2007/06/former-economics-prof-leaves-a-legacy

By Alissa Eisenberg and Alissa Eisenber 06/14/07

Herbert Levine, Economics professor at Penn from 1960 to 2006, died Sunday, succumbing to complications from leg surgery after battling prostate cancer for the past 15 years.

Levine was 78.

Receiving his B.A. [1950], M.A. [1952] and Ph.D. [1961] degrees from Harvard University, Levine specialized in Soviet economics and his insights were “in demand during the period leading up to the dissolution of the Soviet system,” according to a written statement by fellow Economics professor Lawrence Klein.

Levine published several articles on his area of expertise, yet never failed to acknowledge the importance of the broader study of economics.

Winning several awards for excellent teaching at Penn including the Lindback Foundation Award for Distinguished Teaching and the Kravis Prize for Distinction in Undergraduate teaching, Levine was highly regarded among students.

“Econ 1 is large, but [my dad] would call on people by name, he just taught that way and people cared for his courses,” said daughter and College alumna Jan Levine.

Former student and 1964 College alumnus Ted Kozloff echoed Levine’s revere for her father.

“Herb was a seminal figure in my education,” Kozloff said. “There are maybe one or two teachers in my lifetime that had an effect like Herb. . He enjoyed enormous popularity and there was enormous respect for him.”

And that respect remained prominent over his 47-year career at Penn.

Levine was Elizabeth Goldstein’s dissertation advisor in 1982, and she said he was “the most fabulous adviser anybody could ask for.”

Goldstein added, “He was rigorious but understanding and had an amazing gift for being able to guide people through very difficult and high-level economic theory.”

Many former students also noted his warmth and devotion to his personal life in addition to academics.

“Many people excel in their careers and forget their personal life, but Herb didn’t,” said former student Edward LaPuma.

Levine’s funeral was scheduled for this morning in Trevose, Pa.

He is survived by his wife Helene Levine, daughters Jan and Judith Levine, sister Myra Heller and three grandchildren. His son, Jonathon, predeceased him.

Obituary in the University of Pennsylvania Almanac,
Vol. 54, No. 1. July 17, 2007

https://almanac.upenn.edu/archive/volumes/v54/n01/obit.html

Dr. Herbert S. Levine, professor emeritus of economics and expert on Soviet and post-Soviet Russia, died on June 10, after complications from surgery from a broken leg during the end of a fifteen-year battle with prostate cancer; he was 78.

Dr. Levine completed his postsecondary education at Harvard, earning an undergraduate degree in economics in 1950, followed by a master degree in Russian studies two years later. He also earned a doctorate from Harvard in 1961, writing his dissertation on the economic performance of the USSR, which earned important recognition of his research by winning the prestigious David A. Wells Prize.

Dr. Levine joined Penn’s faculty in 1960 as an assistant professor of economics. He studied the controlled economy of the USSR, in close touch with other members of a research center at Harvard University. He was promoted to professor in 1969. In addition to his teaching duties, Dr. Levine served as chairman of the graduate group in economics and as co-director of the Lauder Institute. After a 47-year career at Penn he retired in 2006.

His unusual abilities in presenting modern political economy to undergraduates resulted in him being awarded faculty prizes for his teaching including the Irving B. Kravis Prize for Distinction in Undergraduate Teaching (1988 and 1991) and the Lindback Award for Distinguished Teaching.

Dr. Levine is survived by his wife, Helene; two daughters, Jan Levine, and Judith Levine and their husbands Michael Zuckerman and Edward Sobel; their grandchildren, Rachel Zuckerman, Joshua Zuckerman and Julia Sobel; and his sister, Myra Heller and brother-in-law Jack Heller.

_____________________________

Harvard Course Announcement Fall Term, 1963

Economics 133. The Economy of Soviet Russia (Offered jointly with the Committee on Regional Studies).

Half course (fall term). M., W., (F.) at 9. Professor Levine (University of Pennsylvania).

Economic development under the five-year plans: the rate of economic growth: structural changes; conditioning factors. Planning principles and procedures.

Source: Harvard University, Faculty of Arts and Sciences. Courses of Instruction for Harvard and Radcliffe, 1963-1964, p. 103.

_____________________________

ECONOMICS 133, Fall Term, 1963-1964
The Economy of Soviet Russia
H. S. Levine

Course Outline and Reading List.

Books to be Purchased:

Dobb: M. Dobb, Soviet, Economic Development Since 1917, International Publishers, 1948.

Readings: Readings on the Soviet Economy, F. Holzman (ed.), Rand McNally, 1961.

Part One

I. Historical Overview

A. Pre-Revolution
(General Historical Background: D. Treadgold, Twentieth Century Russia, Rand McNally, 1959, Chapters 1-5, 8.

1. Bowden, Karpovich and Usher, An Economic History of Europe Since 1250, Chapters 14 and 29.

2. G. T. Robinson, Rural Russia Under the Old Regime, Chapters 6, 7, 11.

3. A. Gerschenkron, “The Rate of Industrial Growth In Russia Since 1885,” Part 1, The Journal of Economic History, Supplement VII, 1947, pp. 144-157 (only).

4. Supplementary Readings:

a) J. Blum, Lord and Peasant in Russia, Chapters 24, 26, 27.

b) Robinson, Chapters 5, 12.

c) P. I. Lyashchenko, History of the National Economy of Russia; on agriculture: Chapters 21, 23, 36; on industry: Chapters 25, 26, 32-34.

d) T. Von Laue, Sergei Witte and the Industrialization of Russia

e) A. Gerschenkron, “Russia: Patterns and Problems of Economic Development, 1861-1958, » in his Economic Backwardness in Historical Perspective (postpone Part Ill). This essay also appears in C. Black (ed.), The Transformation of Russian Society.

B. The Revolution, War Communism, and the New Economic Policy (1917-1927)
(General Historical Background: Treadgold, Chapters 9-14.

1. Dobb, Chapters 3-7.

C. The Industrialization Debates, Collectivization and the Beginning of the Plan Era
(General Historical Background: Treadgold, Chapter 17.

1. Dobb, Chapters 8 and 9

2. A. Erlich, “Preobrazhenski and the Economics of Soviet Industrialization,” Quarterly Journal of Economics, Feb. 1950, pp. 57-88

3. Readings: N. Jasny, “Early Kolkhozy and the Big Drive”

4. M. Fainsod, Smolensk Under Soviet Rule, pp. 242-258

5. Supplementary Reading:

a) Readings: A. Erlich, “Stalin’s Views on Soviet Economic Development”.

D. From the First Five Year Plan to the End of the War (1928-1945)
(General Historical Background: Treadgold, Chapter 18

1. Dobb, Chapter 10

2. N. Jasny, Soviet Industrialization 1928-1952, pp. 109-114

3. Dobb, Chapters 11, 12 and pp. 453-454

4 Jasny, Soviet Industrialization, pp. 177-187

E. Post-War to the Present
(General Historical Background: Treadgold, Chapter 25

1. Jasny, Soviet Industrialization, pp. 235-256

2. G. Grossman, “The Soviet Economy,” Problems of Communism, XIl:2, (Mar-Apr. 1963) pp. 32-40

3. Supplementary Readings:

a) O. Hoeffding, “Substance and Shadow in the Soviet Seven Year Plan,” Foreign Affairs, April, 1959

b) H. Levine, “The New Seven Year Plan,” The New Leader, May 25 and June 1, 1959,

II. Soviet Economic Growth

A. Problems of Measuring Growth

1. The Soviet Statistical System

a) G. Grossman, Soviet Statistics of Physical Output of Industrial Commodities, pp. 1-10, 22-46

2. Reliability of Soviet Statistics

a) Readings: A. Bergson, “Reliability and Usability of Soviet Statistics: A Summary Appraisal”

b) L. Turgeon, “On the Reliability of Soviet Statistics,” Review of Economics and Statistics, February 1952, pp. 75-6.

c) Grossman, Soviet Statistics, pp. 123-134.

3. Interpretation of Data

a) Readings: A. Bergson, “The Adjusted Factor Cost Standard of National Income Valuation.”

b) Readings: A. Nove, “1926/27 and All That.”

c) A. Gerschenkron, A Dollar Index of Soviet Machinery Output, pp. 47-58

d) R. Moorsteen, “On Measuring Productive Potential and Relative Efficiency,” Quarterly Journal of Economics, August 1961, pp. 451-467

e) Supplementary Readings

1) J. R. Hicks, “The Valuation of the Social Income,” Economica, May 1940, pp. 105-124

2) P. Samuelson, “Evaluation of Real National Income,” Oxford Economic Papers, January 1950, pp. 1-29.

3) A. Becker, “Comparisons of US and USSR National Output: Some Rules of the Game,”World Politics, October 1960, pp. 99-111.

B. What Has Been Accomplished?

1. National Income

a) A. Bergson, “National Income,” in A. Bergson and S. Kuznets (eds.), Economic Trends in the Soviet Union, pp. 1-16 (only).

b) S. Cohn, “The Gross National Product in the Soviet Union,” in Joint Economic Committee, Dimensions of Soviet Economic Power, pp. 69-77.

c) Supplementary Reading

1) A. Bergson, The Real National Income of Soviet Russia Since 1928, Chapters 13 and 14.

2. Industry

a) Readings: N. Kaplan and R. Moorsteen, “An Index of Soviet Industrial Growth”

b) R. Greenslade and P. Wallace, “Industrial Production in the USSR,” in Dimensions, pp. 119-130

c) Supplementary Reading

1) R. Powell, “Industrial Production,” in Trends, pp. 150-176

3. Agriculture

a) D. G. Johnson, “Agricultural Production”, in Trends, pp. 203-214

b) J. Willet, “The Recent Record in Agricultural Production,” in Dimensions, pp. 95-100.

4.  Consumption

a) J. Chapman, “Consumption,” in Trends, pp. 235-270

b) Supplementary Reading

1) R. Golden, “Recent Trends in Soviet Personal Income and Consumption,” in Dimensions, pp. 347-366.

C. Analysis of Growth

1. H. Schwartz, Russia’s Soviet Economy (2nd and Revised Editions), pp. 1-26

2. W. Eason, “Labor Force,” in Trends, pp. 38-93

3. N. Kaplan, “Capital Formation and Allocation,” in A. Bergson (ed.), Soviet Economic Growth, pp. 37-80

4. A. Bergson, “National Income,” in Trends, pp. 17-35.

5. Supplementary Readings

a) F. Seton, “Production Functions in Soviet Industry,” American Economic Review, May 1959, pp. 1-14

b) R. Campbell, Soviet Economic Power, Chapter 4

c) N. DeWitte, “Education and the Development of Human Resources,” in Dimensions, pp. 233-268

d) Readings: “Forced Labor in the Soviet Union”.

Ill. The Operation of the Soviet Economy

A. General Operating Framework and Principles

1. P. Cook, “The Administration and Distribution of Soviet Industry,” in Dimensions, pp. 183-210.

2. A. Nove, The Soviet Economy, Chapter 1.

3. W. Loucks, Comparative Economic Systems (6th Edition), pp. 444-453.

4. Supplementary Reading

a) G. Grossman, “The Structure and Organization of the Soviet Economy,” Slavic Review, June 1962, pp. 203-222.

B. Planning

1. O. Lange, “On the Economic Theory of Socialism” in B. Lippincott (ed.), O. Lange and F. Taylor, On the Economic Theory of Socialism.

2. Schwartz, Chapter V

3. Readings: H. Levine, “The Centralized Planning of Supply in Soviet Industry.”

4. Readings: G. Grossman, “Scarce Capital and Soviet Doctrine”

5. Readings: “On the Problem of Determining the Economic Effectiveness of Capital Investments.”

6. Supplementary Readings

a) J. Drewnowski, “The Economic Theory of Socialism: A Suggestion for Reconsideration,” Journal of Political Economy, August 1961, pp. 341-354

b) Dobb, Chapter 1

c) H. Hunter, “Optimum Tautness in Developmental Planning,” Economic Development and Cultural Change, July 1961, Part l, pp. 561-572.

d) R. Campbell, Soviet Economic Power, Chapter 5

e) I. Yevenko, Planning in the USSR, (Foreign Languages Publishing House, Moscow), esp. Chapter III.

f) Readings: D. Granick, “An Organizational Model of Soviet Industrial Planning.”

C. The Firm and Problems of Industrial Administration

1. Readings: J. Berliner, “The Informal Organization of the Soviet Firm.”

2. Readings: A. Nove, “The Problem of Success Indicators in Soviet Industry.”

3. “The Liberman Proposals”

a) Current Digest of the Soviet Press, XIV:36 (Oct. 3, 1962), pp. 13-15

b) Harry Schafer, “Ills and Remedies,” Problems of Communism, May-June 1963, pp. 18-26.

4. A. Nove, “The Soviet Industrial Reorganization,” Problems of Communism, Nov.-Dec. 1957, pp 19-25.

5. H. Levine, “Recent Developments in Soviet Planning,” in Dimensions, 1st Section, pp. 167-185.

6. P. Cook, “Party, State and Economic Reorganization in the USSR.” The ASTE Bulletin, V:l (Winter 1963), pp. 2-11

7. Supplementary Readings

a) Readings: J. Berliner, “Managerial Incentives and Decisionmaking.”

b) G. Grossman, “Soviet Growth: Routine, Inertia, and Pressure,” American Economic Review, May 1960, pp. 62-72.

c) Readings: O. Hoeffding, “The Soviet Industrial Reorganization of 1957.”

d) M. Goldman, “Economic Controversy in the Soviet Union,” Foreign Affairs, 1963:3, pp. 498-512.

e) A. Nove, “The Liberman Proposals,” Survey, April 1963, pp. 112-118.

D. Prices

1. M. Bornstein, “The Soviet Price System,” American Economic Review, March 1962, pp. 64-103.

2. V. Nemchinov, “Value and Price Under Socialism,” Problems of Economics, IV:3 (July 1961), pp. 3-17.

3. R. Campbell, “Marx, Kantorovich, and Novozhilov: Stolmost Versus Reality,” Slavic Review, October 1961, pp.402-418.

4. M. Bornstein, “The 1963 Soviet Industrial Price Revision,” Soviet Studies, July 1963, pp. 43-52.

5. Supplementary Readings

a) Readings: G. Grossman, “Industrial Prices In the USSR.”

b) A. Wakar and J. Zielinski, “Socialist Operational Price Systems,” American Economic Review, March 1963, pp. 109-127

c) “The Great Value-Price Controversy in the USSR….” in H. Shaffer (ed.), The Soviet Economy (A Collection of Western and Soviet Views), pp. 340-421.

d) A. Zauberman, “Soviet Planometrics,” Soviet Studies, July 1962, pp. 62-74.

E. Finance

1. A. Nove, The Soviet Economy, Chapter 3

2. Readings: F. Holzman, “Financing Soviet Development”

3. Readings: F. Holman, “Soviet Inflationary Pressures, 1928-1957”

4. Readings: D. Hodgman, “Soviet Monetary Controls Through the Banking System”

5. Supplementary Reading. F. Holzman, Soviet Taxation, Chs. 1-4, 9.

F. Labor

1. Readings: E. Brown, “The Soviet Labor Market”

2. Schwartz, pp. 554-565, 534-548

3. Readings: A. Nove, “Social Welfare in the USSR.”

4. W. Galenson, “The Soviet Wage Reform” Proceedings of the Thirteenth Annual Meeting, Industrial Relations Research Association (1961), pp. 250-265.

5. A. Nove, “Toward a Communist Welfare State?” Problems of Communism, January-February 1960.

6. Supplementary Readings

a) E. Nash, “Trends in Labor Controls In the Soviet Union,” in Dimensions, pp. 393-404.

b) E. Brown, “Labor Relations in Soviet Factories,” Industrial and Labor Relations Review, January 1958

c) E. Brown, “A Note on Employment and Unemployment in the Soviet Union in the Light of Technical Progress,” Soviet Studies, January 1961, pp. 231-240.

G. Agriculture

1. Schwarz, Chapter VIII

2. C. Harris, “Soviet Agricultural Resources Reappraised,” Journal of Farm Economics, May 1956, pp. 258-273

3. Readings: L. Volin, “Agricultural Policy of the Soviet Union.”

4. J. Willet, “The Recent Record in Agricultural Production,” in Dimensions, pp. 100-113.

5. H. Walters, Agriculture in the United States and the Soviet Union, U.S. Dept of Agriculture, 1963).

6. Supplementary Readings

a) J. Newth, “Soviet Agriculture: the Private Sector, 1950-59,” Soviet Studies, October 1961 and April 1962.

b) A. Nove, “Soviet Agriculture Marks Time,” Foreign Affairs, July 1962.

c) D. G. Johnson, “Agricultural Production,” in Trends, pp. 214-234

H. Domestic Trade, Foreign Trade and Foreign Aid

1. M. Goldman, Soviet Marketing, Chapters 2, 3, 8.

2. A. Nove, and D. Donnelly, Trade with Communist Countries, pp. 21-57.

3. P. Thunberg, “The Soviet Union in the World Economy,” in Dimensions, pp. 409-438.

4. G. Carnett and M. Crawford, “The Scope and Distribution of Soviet Economic Aid,” in Dimensions, pp. 457-474.

5. A. Zauberman, “Economic Integration,” Problems of Communism, July-August 1959, pp. 23-29.

6. Supplementary Readings

a) M. Goldman, “Product Differentiation and Advertising: Some Lessons from Soviet Experience,” Journal of Political Economy, August 1960, pp. 346-357.

b) Readings: J. Berliner, “Soviet Foreign Economic Competition”

c) Readings: N. Spulber and F. Gehrels, “The Operations of Trade Within the Soviet Bloc.”

d) Readings: F. Holzman, “Some Financial Aspects of Soviet Foreign Trade.”

e) “Discrimination Within the Bloc: Mendershausen vs. Holzman,” The Review of Economics and Statistics: May 1959, May 1960 and May 1962.

I. Future Prospects and Their Implications

1. A. Bergson, “The Great Economic Race: USSR vs. USA,” Challenge, March 1963.

2. A. Bergson and J. Berliner, “Economic Aspects of the Party Program,” The ASTE Bulletin, IV:2 (Winter 1962) pp. 20-36.

3. Readings: O. Hoeffding, “Soviet State Planning and Forced Industrialization as a Model for Asia.”

4. Supplementary Reading

a) J. Hardt et al, The Cold War Economic Gap. (Praeger 1961).

b) Articles by Peterson, Colm, Rostow and Schwartz in Joint Economic Committee, Comparisons of the United States and Soviet Economies, Parts Il and Ill.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 8, Folder “Economics, 1963-64”.

_____________________________

HARVARD UNIVERSITY
Department of Economics
Economics 133

Final Examination
January 27, 1964

Part I (One hour)
Answer three of the following four questions.

1. (20 minutes)

Compare the economic policies of Vishnegradsky and Witte with those of Stalin.

2. (20 minutes)

Discuss the problem of “success indicators” in Soviet industry.

3. (20 minutes)

Describe briefly how prices and wages are formed and the role they play in the Soviet economy,

4. (20 minutes)

Describe the operation and role of foreign trade in the Soviet economy.

Part II (One hour)
Answer two of the following three questions,

5. (30 minutes)

“In order to understand why the Russians (at least until very recently) have been so successful in achieving rapid economic growth, one need look no further than the high rate of investment they have been able to attain.”
Discuss.

6. (30 minutes)

You are a high ranking official of the Soviet Communist Party and you have just been appointed chief of agricultural affairs. You are requested to prepare a report in which you are to:

a) describe briefly the major reforms instituted in Soviet agriculture in the last 10 years;
b) discuss the extent of their success and/or failure; and
c) propose some further measures which may be taken to improve the agricultural situation.

How would you respond to this request? (“Flee the country” is not an acceptable response.)

7. (30 minutes)

The U.S. Central Intelligence Agency recently claimed that the rate of growth of Soviet national income in the last two years (1962 and 1963) has been 2.5% per year.
In analyzing this claim, answer the following questions:

a. What is meant by the “index number problem” in measuring economic growth? Why does it arise?

b. To what extent may there be an index number problem in CIA’s calculation?

c. How does this CIA figure differ from the rates of growth of Soviet national income which have been calculated by Bergson and Cohn for earlier periods?

d. What in your opinion might account for the differences?

e. Bonus (If you have time)

What do you think are the prospects for Soviet economic growth in the next 10 to 20 years? Explain.

Part III (One hour)
Answer the following question.

8. (60 minutes)

Suppose the Soviet government were to decide that it were no longer necessary or desirable to maintain a policy of achieving a maximum rate of economic growth. Suppose instead, it were to decide on a policy of achieving moderate growth (say about 4% per year in national income), rising standards of living for its people and full employment (in short, a “civilized” economic policy).

Discuss the possible effects such a decision might have on the various different elements in the organization and operative of the Soviet economy.

Source: Harvard University Archives. Papers Printed for Midyear Examinations [in] History, History of Religions,…, Economics,…,Naval Science, Air Science (January 1964) in bound volume Social Sciences. Final Examinations. January 1964 (HUC 7000.28, vol. 150 of 284).

Image Source: Associate Professor of Economics, Herbert S. Levine. University of Pennsylvania Yearbook, The 1967 Record, p. 108.

Categories
Cambridge Columbia Cornell Curriculum Economics Programs Germany Harvard Oxford Teaching

United Kingdom and other countries. Methods of Economic Training. Cunningham Committee Report, 1894

 

The Cunningham Committee report on methods of economic training in the United Kingdom and other European and North American countries from 1894 provides a wonderful overview of the (Western) state of economics education.

Previous posts with information for U.S. economics courses taught in the 1890s can be found in the previous posts:

Chicago, Columbia, Harvard 1893-94

United States. Economics Courses in 23 universities, 1898-99

____________________________

Methods of Economic Training in this and other Countries.

Report of the Committee, consisting of Professor W. CUNNINGHAM (Chairman), Professor E. C. K. GONNER (Secretary), Professor F. Y. EDGEWORTH, Professor H. S. FOXWELL, Mr H. HIGGS, Mr. L. L. PRICE, and Professor J. SHIELD NICHOLSON.

APPENDIX

I.— On the Methods of Economic Training adopted in Foreign Countries, by E. C. K. Gonner, pp. 2 ff.

      1. Austria
      2. Hungary
      3. Germany
      4. Holland
      5. Belgium
      6. Italy
      7. Russia
      8. United States of America

II.— On Economic Studies in France, by H. Higgs, pp. 20 ff.

III.—On the Condition of Economic Studies in the United Kingdom, by E. C. K. Gonner, pp. 23 ff.

      1. England
      2. Scotland
      3. Ireland

IN furtherance of the above purpose three reports have been drawn up after due inquiry and laid before your Committee.

These reports, which are appended, bring out very clearly some features of difference between the position of such studies in this and in foreign countries, and, with other information before your Committee, seem to them to call for the following observations. Before proceeding to the consideration of certain particular points they would remark that the growth of economic studies, and in particular the development among them of the scientific study of the actual phenomena of life (both in the past and in the present), have important effects, so far as the organisation of the study and its suitability for professional curricula are concerned. It may be hoped, indeed, that when the empirical side is more adequately represented, the importance of the careful study of economics as a preparation for administrative life will be more fully recognised both by Government and the public.

(a) The Organisation of the Study of Economics. — While fully recognising the great energy with which individual teachers in this country have sought to develop the study of this subject, your Committee cannot but regard the condition of economic studies at the universities and colleges as unsatisfactory. As contrasted with Continental countries and also with the United States, the United Kingdom possesses no regular system. In one place economics is taught in one way, and in connection with some one subject, not infrequently by the teacher of that subject ; in another place in another way, and with another subject. Very often it is taught, or at any rate learnt, as little as possible. In most places this lack of organisation is due to the weariness of introducing elaborate schemes for the benefit of problematic students.. At Cambridge the pass examination which has recently been devised only attracts a few. With regard to the higher study of economics, Professor Marshall, among others, has written strongly of the comparatively small inducements offered by economics as compared with other subjects. He adds: “Those who do study it have generally a strong interest in it; from a pecuniary point of view they would generally find a better account in the study of something else.” Some considerations bearing on this point are offered below, but here it may be observed that the attempts to introduce more system into the teaching of economics, and to secure for it as a subject of study fuller public recognition, should, so far as possible, be made together.

In the opinion of your Committee economics should be introduced into the honour courses and examinations of the universities in such a manner as to allow students to engage in its thorough and systematic study without necessarily going outside the range of degree subjects.

(b) The Position of Economics with regard to Professional and other Curricula. — In most Continental countries economics occupies a place more or less prominent in the courses of training and in the examinations through which candidates for the legal profession or the civil service have to pass. In Austria, Hungary, and the three southern States of Germany this connection is very real, and the nature of the study involved very thorough. The same cannot be said with regard to the northern States of the latter empire, where the importance attached to this subject is so slight as to make its inclusion almost nominal. To some extent or in some form it is regarded as a subject obligatory on those preparing for those callings, or, to speak more accurately, for the legal calling and for certain branches of the civil service in Italy, Spain, Sweden, Norway, Denmark, and Switzerland. In Holland and Belgium, while a certain general knowledge only is required for a few posts or branches of the civil service, a very thorough study is incumbent on those qualifying for the higher branch of the legal profession. In both France and Russia it is an integral and necessary portion of the legal curriculum.

The two studies are cognate, and according to the view of your Committee not only would the institution of an examination in economics at some stage of legal degrees and qualifications be advantageous professionally, but the work of those who had enjoyed a legal training would react favourably on the advance of the science. In addition, economics should receive a much more important place in the Civil Service Examinations.

_______________________

APPENDIX I.
On the Methods of Economic Training
adopted in Foreign Countries
.
By E. C. K. Gonner.

The comparative study of the continental and other foreign systems of Economic Education brings out in clear relief certain features of either difference or coincidence which relate respectively to the impulses or circumstances giving this particular study its importance, to the method of study, and, lastly, to its organisation and the degree of success attained in the various countries.

(1) Putting on one side the purely scientific impulse to learn for learning’s sake, which can, after all, affect comparatively few, the inducement to a large or considerable number of students to interest themselves in any particular study must consist in its recognition, either positive or tacit, as a necessary preliminary to some professions or to certain positions. This may, as has been suggested, be either direct and positive, or indirect and tacit; direct and positive, that is, in the case of economics when in either one or more branches they are made part of the examinations admitting to the legal profession and the higher civil service; indirect and tacit when public opinion demands economic knowledge as necessary in those holding prominent positions as citizens or anxious to direct and control their fellows, either by the pen as journalists, or by act or word as statesmen or politicians. The importance of both these motives is, of course, largely increased when they exist in close connection with the purely scientific impulse. By itself this is not sufficient. The exclusion of one study, as economics, from professional or technical curricula, unless counteracted by the existence of a very powerful popular sentiment in its favour, practically removes it from the reach of students who have to make themselves ready to earn their living. Of the two influences, described above, the former, or the actual and positive recognition is given, in some shape or other, in Austria and Hungary, the southern states of the German empire, France, Belgium, Italy, Spain, Switzerland, Sweden, Norway, Denmark, Russia, and Holland. In America, and to some extent in Canada, popular sentiment and interest supply the needful impetus by making economics a tacit requisite for those exercising particular callings. In both Germany and Austria there are signs of the growth of economics in popular appreciation. In Austria, indeed, the circumstances are peculiarly fortunate. Economic instruction is recognised as a matter of serious importance, while, on the other hand, economic knowledge is one of the subjects of the State examinations for the legal and administrative service. In addition, its careful and scientific study is pursued by a fair number of advanced students. In this way Austria occupies a central position among the various nations which range themselves with America at one extreme, where there is no positive or direct obligation in favour of economic study, and at the other extreme, the Scandinavian and lesser Latin countries where all recognition that exists is positive, but where this positive recognition is largely nominal.

It has been urged that the ill-success of economic studies in these latter countries is largely an argument against their inclusion in obligatory curricula—a proposition which probably those who make it would hardly apply to the cases of other subjects. But from the evidence furnished by the countries before us this ill-success can be traced to other causes. It is due, firstly, to differences in the methods of study, and, secondly, to the differences in the thing made obligatory. In South Germany, Austria, and Hungary, economics is obligatory on certain classes of students, and the study of economics is making rapid and satisfactory progress, but then in South Germany, Austria, and Hungary, the method of study is one which commends itself to advanced students and educational critics, and the knowledge required in the examinations is thorough. In the lesser Latin countries, as Spain and Italy, the knowledge which the candidate is expected to show is elementary in itself, largely confined to elementary theory, and a marked unreality is imparted to the whole study, an unreality recognised alike by examiners, teachers, and students. On the other hand, the advantages which economics may receive from its public and positive recognition are borne witness to by those best acquainted with the condition of the study in Germany, where the usages of the north and south differ. Broadly speaking they consist in the removal of economics from the category of unnecessary to the category of necessary acquirements. Many of those who begin the study from compulsion continue it from choice. In America, indeed, the strength of popular sentiment and the ever present interest of politics together with the action of the universities, where nearly all studies, and not economics alone, are put on a voluntary footing, give it an adequate position; but failing the combination of conditions such as these, its absence, both from all professional curricula and from the earlier stages of education, cannot but be regarded as disastrous and unjust.

(2) The method of economic studies is of a certain importance with regard to the subject last discussed. Though it would be unfair to estimate the work, or to judge of the scope of schools of economic teaching from their extreme tendencies, these afford not unsatisfactory means of distinction. Speaking broadly, they may be placed in two groups—those in which the dominant influence is empirical; those in which it is theoretical or abstract. Very few economists, whether teachers or writers, are wholly empirical or wholly theoretical. Some bias, however, they nearly all have, and it is by that they may be ranked for the present purpose. Nor must it be supposed that the distinctions drawn in one country, with regard to these opposing lines of study, at all correspond with those existing in another. In Germany, for instance, the attitude of Professor Wagner is attacked by the members of the historical school— one branch of the empirical—but judged by the standards of France and England he would rank in the main as an empiricist. The theorists of Germany and Austria do little more than assert that theoretical study has its due place and is a necessary part of the equipment of an economist.

When discussing the assertion that compulsory economics, however enforced, tended to issue in perfunctory attendances and poor results so far as interest was concerned, it was urged that these consequences depended largely on the method and nature of study. This is remarkably llustrated by the fact that the countries where such evils are regretted or anticipated are those where the study of economics is mainly theoretic, or where economics is distinctly and openly subordinated to other subjects. Lessons of this latter kind are never thrown away upon students. But with regard to the former, it is not from the southern states of the German empire, or from Austria, that we hear these complaints. There economic study is obligatory, and the economic study involved is two thirds of it empirical in character. In the Latin countries the state of things is very different. The basis of study is, if I may say so, text-book theory, and the position of economics, so far as progress is concerned, is unsatisfactory in the extreme. This has been particularly dealt with in the paragraphs relating to Italy.

In two of the great nations the mode of study practised is largely empirical. In Germany, despite the contrast between different leaders of thought, the importance of this method is well illustrated by the position which the study of Practical or Applied Economics invariably occupies. In America, the study of economic history and of modern economic fact grows into greater prominence year by year.

(3) Turning to the question of success, the question arises at once as to the tests whereby such may be measured. Of these, many, varying from popularity to eclecticism, have been suggested, but possibly the one most suitable is the ability of a system to produce a high general level amongst a good number of students. Something more is required of a system than that it should bring together large audiences for elementary courses, while as for the production of a few very good students, a few will always press to the front through all difficulties, despite systems good or bad, or in the absence of any system at all. But a system that is to be deemed good must place within the reach of all industrious and apt students the means of a good general economic training, while stimulating him to prosecute original and independent work. Further, it should provide these advantages regularly and not intermittently. The way in which these two needs are met in practice can be stated briefly. General training is provided by a systematic series of courses which should include at least Theory of Economics, Applied Economics, and Finance. The seminar, or classes organised like the seminar, offer opportunities for guiding a student into the ways of original work.

Seminar instruction is given regularly in Germany, Austria, Hungary, in the better equipped universities of America, Switzerland, and to some extent in both Sweden and Holland. In Russia the professors may and sometimes do organise seminars or discussion classes. In Belgium classes are held in connection with some of the courses.

With regard to the systems of providing for a good ground knowledge of the leading branches of Economics, classification is rendered difficult by the different methods adopted in the various countries. Some are more, some less thorough. Among the former we may put without hesitation the countries already singled out for notice—Germany, America, Austria, and Hungary.

From the accounts given in detail below it is clear that in these countries the study of economics is advancing. The training is systematic. A fair proportion of students pass from the more general into the more special or advanced courses. The production of work, not necessarily of the first order, for with that we are not dealing, but of the second, or third, or fourth order, is great and still increases.

AUSTRIA.

The position of Economics in Austria is largely determined by its relation to legal studies, by the place, that is, which its various branches hold in the examinations qualifying for the legal profession and for the juridical and higher administrative services. According to the system till recently in force, but now somewhat modified, candidates intending to enter these had to attend certain courses at the universities, and to pass certain examinations varying according to the positions sought. Those entering the legal profession had to pass the first State examination in addition to the three political rigorosa of the university, success in which latter conferred the degree of Doctor. Other candidates only needed to pass the three State examinations. These latter were as follows:— The first (Rechtshistorische Staatsprüfung) was held at the end of the second year of study, and comprised the following subjects: Roman Law, Canon Law, and German Law in its historical aspect. The second (Judizielle Staatsprüfung) was held towards the end of the eighth semester, in the following subjects: Austrian Law, civil, commercial, and penal; Austrian civil and criminal Procedure. At the end of the four years came the third and final examination (Staatswissenschaftliche Staatsprüfung), which alone is of importance so far as the legal recognition of Economics is concerned. The subjects examined in were Austrian Law, International Law, Economics (including Economics, the Science of Administration, Finance and Statistics). The political rigorosa, while they correspond in outline to the State examinations, have some few points of difference both with regard to method and subjects. They, too, are three in number, and may be described as the Austrian rigorosum, corresponding to the second State examination, the Romanist, corresponding to the first State, and the Staatswissenschaftlich, which closely resembles the third State examination, though not including Statistics or Administration. There is no regulation as to the order in which they are to be passed, but that indicated above is customary. Their greater severity may be judged from both the additional length of preparation prescribed and the manner in which they are conducted. The earliest date at which a candidate may pass his first rigorosum is at the end of the fourth in place of the second year. The second and third may follow at respective intervals of two months. The Staatsprüfung is an examination taken by groups of four students, each group being under examination for two hours; but in the rigorosa each candidate is under examination for two hours, spending half-an-hour with each examiner. Both State and university examina tions are oral, and the latter are said to impose a severe strain on both examiner and candidate. In the latter the examiners are the university professors, while in the State examinations these are variously composed of professors, functionaries of the State, and barristers of good standing.

By the law of April 28, 1893, which came into effect in October, the system sketched above underwent certain alterations. A complete separation will be effected between the university examinations or rigorosa, and those qualifying for the legal profession and State services, the former no longer serving as a possible substitute for the second and third of the latter. In addition, some slight change has been introduced into the curriculum and examinations imposed upon students designing to enter these. They will have to attend courses and to be examined in— (a) The Science of Administration (Verwaltungslehre), and with special reference to Austrian Law; (b) Economics, theoretical and practical; (c) Public Finance, and especially Austrian Finance. In addition they must attend lectures (without subsequent examination) on Comparative and Austrian Statistics. These alterations will leave the number of students in the more elementary subjects unaffected, and so far from operating in discouragement of economic and political studies, will, it is hoped, lead to their more thorough prosecution, by raising the degree to a more scholarly position.

The marked recognition of Economics by the State, and the large number of students whose prospects are involved in its successful study, naturally affect the teaching organisation provided by the universities and other bodies.

This is fairly uniform throughout Austria, as apart from Hungary, though the extent to which the subject is pursued, and the variety of its forms, depend mainly on the enthusiasm of particular teachers and the greater opportunities offered by particular universities or other institutions. At the universities the ground plan of work may be described as identical, Economics being taught in the faculty of law. There are certain courses which must be delivered, and at which attendance is obligatory for certain classes of students. These are on National Economy, Finance, Statistics, and the Science of Administration (Verwaltungslehre), which includes instruction in practical economics, public health, army, matters of policy, justice, &c. But in addition to these the teachers, whether professors or privat-docents may, and often do, deliver special courses dealing with more particular subjects. These are not necessarily or usually the same from year to year; and may be described as instruction of an unusually high order, inasmuch as each teacher is accustomed to select for treatment such branch of science in which his own activities and studies lie. The large2 voluntary attendance at such lectures is a testimony to the regard in which economic studies are held among a large body of students.

1Vienna—Prag (German), Prag (Bohemian), Graz, Innsbruck, Krakau (Polish), Lemburg (Polish).
2At Vienna the attendants at special courses varies from 50 to 100.

Seminar instruction is customary, as in Germany. At Vienna there are two seminars, one for Economics, one for Statistics and Political Science (Staatswissenschaft), while in addition there is an Institute of Political Science, attached to all of which are libraries and places for the members to carry on their work in close contact with their professor or his deputy. The members consist in part of young doctors of the university who have recently graduated, in part of those preparing for the examinations of the university, and include, as a rule, several foreigners who have come to Vienna to pursue their studies. The arrangements at the other universities are similar, though in some they lack the completeness displayed at Vienna.

Students who, having passed their examinations with credit, or other wise performed their work to the satisfaction of their teachers, wish to carry on their studies in other countries are eligible for Reisestipendia (travelling scholarships). These are rewarded to encourage study in foreign universities, or to enable their holders to carry out investigations which necessitate a journey. Unfortunately they are but few in number, and as they are open to students of all faculties, few economists can hope to obtain them. Among the more recent holders in Vienna are Professors Böhm-Bawerk, Robert Meyer, Von Phillipovich, and Dr. Stephen Bauer, the two latter of whom published reports on matters studied abroad.

In this way a method of economic instruction has been developed in the Austrian universities which not only provides a large number with a carefully systematised series of courses, but offers to those disposed to more thorough or more special study ample opportunity. The more eager and energetic pass through the courses compulsory for the law degree, in themselves a fitting preliminary to more detailed work, to attendance at the special courses and membership of the seminar; from these they may, if fortunate, advance into the position of travelling or research scholars of their university. Though most of the students at the Economic Lectures are jurists, the attendance frequently includes members qualifying in other faculties, or even more general ‘hearers.’ At Krakau, students of the philosophical faculty form some 20 to 25 per cent of the total. All these students are entirely free so far as their choice of Economic courses is concerned. It is not possible to give the exact numbers of the students to be described respectively as elementary and advanced. The particulars, however, furnished by the various universities permit a rough general estimate. Not fewer than one thousand students undergo the more general courses, thus attaining to a fair systematic acquaintance with the main branches of economic study, while out of that number more than two hundred take special courses and enter the various seminars. This account rather under than over estimates the extent to which economic studies extend. As to the character of the advanced work there is no doubt. As has been pointed out, it is of a high order. But some question has been raised as to the value of the knowledge likely to be attained by the more general student. The variety of subjects required in the examinations either of the university (political rigorosa) or of the State, and the number of courses obligatory on the students, do not allow of an early specialisation.1 But a glance at the nature of the examination, and at the syllabus of the various courses, forbids the inference that the instruction given is of a purely rudimentary nature.

1This, as Professor von Milewski contends, interferes with the scientific character of the various studies required for the degree. As each has to take up several subjects, and to pass examinations in these, he cannot give very special attention to Economics or any other branch of social science in which he may happen to be interested.

Much, it is true, depends upon the personal enthusiasm and force of the teacher, for, despite the obligation of attendance, a dull and unininteresting lecture will rarely obtain the audiences registered to him, many students preferring to buy copies of the course hectographed from the notes of their predecessors in the lecture room, and only troubling themselves to appear at the beginning and end of the semester.

In the University of Krakau, Economics are obligatory, both in study and examination, for the students of agriculture who attend special lectures, apart, that is, from the law students. Instruction in Economics (Political Economy, Finance, and Statistics) is given also at all the Technical High Schools (Technischen Hochschulen) in Austria,1 while attendance at the courses (though without examination) is obligatory at the schools of agriculture, where similar conditions prevail. At the Commercial Academies (Handelsakademien of Vienna and Prague) a course of lectures is given with particular reference to the Economic branches which throw most light on commercial facts and features, and on the relations existing between the various classes engaged in industry and trade. To obtain the diploma of these institutions the lectures are followed by an examination. Courses are provided for the consular service at the Oriental Akademie in Vienna, and for the service of the administration of the army.2 There is also a Fortbildungschule for officials of the railway, where political economy is taught and examined in. Members of these courses are considered specially fitted for the attainment of the higher posts in their service.

1Of these there are six:-Vienna, Brünn, Graz, Prag (German), Prag (Bohemian), Lemburg (Polish). After examination diplomas are granted, which are necessary for those becoming teachers in agricultural schools, and are, it is said, a strong recommendation in the eyes of landlords when engaging their officials, agents, &c.
2An Intendanz-Class for officers willing to serve as Intendanten for the provision of the army.

A knowledge of Economics, duly and doubly certified by registered lecture courses and by examination, is a necessary preliminary to certain careers. Attendance at the university lectures and the attainment of the juridical degree are the qualification for the higher branches of the legal profession (advocate, &c.), and like attendance and degree, or, in the place of the latter, the diploma of public service, are required for all branches of the legal profession and for the whole civil service. Entrance into the consular and diplomatic services may also be obtained through the courses of the Oriental Academy. Further, as has been pointed out above, a certain acquaintance, or supposed acquaintance, with economic studies is considered necessary in some other vocations.

At the present time very considerable importance is attached to economic studies in Austria. Their scientific character is a general matter of care, and an extension of the sphere in which they are obligatory, or at least advisable on the part of those who seek success in their particular calling or profession, is earnestly advocated by some. In the first direction the reforms in the juridical studies at the universities will operate. As Dr. Mataja writes:— ‘Economics will have greater and not less weight.’ On the other hand, and in the other direction, different suggestions have been made. Some advocate the extension of compulsory study to engineers who will become officials and directors in factories, to the employés of the fiscal service, to those attending the more elementary technical schools. Others would like to see schools of political and social science (including Economics) founded in the great industrial centres. Whether these suggestions be carried out or not, they serve to illustrate the feeling which exists, at least on the part of some, with regard to the value of Economics both as a special and as a branch of general study.

HUNGARY.

Economics holds a position somewhat similar to that in Austria. It is obligatory on all students in the faculty of law and political science at the two universities,1 and in the Rechtsakademien (legal faculties, as at Kassa), who must take courses in Economics and Finance before the end of their second year, when they have to pass an examination, among the subjects of which these are included. After the second year their studies bifurcate, according to the degree which they seek (Dr. Juris, or Dr. Cameralium). In order to obtain the former, they must pass an examination in financial law. But if they wish to take the latter degree (Dr. Cameralium), they must pass two rigorosa, among the subjects of which are Economics (theoretical and practical), Finance, Finance Law, and Statistics. The knowledge required in this case is exceedingly thorough, and the degree is of high value in the public service. There are also state examinations which serve as qualifications, though to a lesser extent, for the legal and administrative services. Though easier, they correspond closely with the above. In the universities the system of economic study in its general features resembles that in vogue in Austria, the chief courses being those on Economics and Finance; but both at Budapest and Klausenburg, as, for instance, at Strassburg to take a parallel, these studies belong not to a sole legal faculty, but to a legal and political faculty (Rechts- und Staatswissenschaftliche Fakultät). In addition to successful examinations the candidates have to present a thesis. The possession of the degree of Dr. Cameralium implies a very sound economic training, and it was till lately the chief means of entering the higher civil service both of the kingdom and of the states. Considerable attention is paid to Economics, the seminars being well frequented, and the interest and activity of students great. This is particularly true of Budapest, where the lectures are varied and delivered by a numerous and able staff.

1Budapest, Klausenburg (Kalorsvar).

GERMANY.

The differences in the history and regulations of the various states composing the German empire have led, not unnaturally, to considerable differences in the positions which economic studies occupy. On the one hand, they are affected by the diversity of usage existing as to their connection with the course of study required for the legal profession and the civil service. On the other hand, the particular faculty in which they are included has been determined by reasons possessing little but historical validity.

  1. Prussia.—At the Prussian universities Economics belongs to the faculty of philosophy, and, speaking generally, to that section of this faculty known as the Sciences of the State. A student takes his degree in Economics entirely apart from law, the position of which as a separate faculty unfortunately precludes a student who presents a thesis in one of these two subjects from selecting the other as one of the two collateral subjects which he is bound by regulation to offer himself for examination in. Further, it must be noticed that the degree of doctor in this country, and, indeed, in Germany generally, is not a qualification, as was till recently the case in Austria and still is in certain of the Latin countries. Some assistance it may be in a judicial career, but even then the degree of Doctor Juris has naturally much more value than that of Doctor of Philosophy in the State Sciences.

Nor does Economics occupy an important place in the State examinations which qualify for the legal and administrative services. To enter these a candidate must pass examinations, the first of which is common to both services (referendar Examen). This consists of two parts, the first written and dealing with law, the second oral, which includes, among other matters, the elements of Economics. So subordinate is this subject that, in the opinion of many critics, it hardly counts in the decision as to the eligibility of candidates. The course of examination then bifurcates, some taking that for Justiz-Assessor, others for that of Regierungs Assessor, for neither of which is Economics required. At the latter of these (Reg. Assessor) some knowledge of Economics in its applied branches is said to be highly desirable, but inasmuch as the examination takes place some five years after the conclusion of the university course, the demands it makes are chiefly met by knowledge supplied from books. With regard to the constitution of the examining boards it should be noticed that, even at the referendar Examen, it is not in accordance with common practice to include professors of Economics.

  1. Saxony. —The system recently adopted in Saxony is, in so far as the subordination of Economics is concerned, nearly identical with that of Prussia. In one point it is more favourable to the interests of this subject, the professoriate being invariably represented on the board of examiners.
  2. Reichsland.—In the Reichsland Economics is of no more importance than it is in Prussia.
  3. Saxe Weimar.—In Saxe Weimar, too, it is of but nominal importance in the juridical examinations. There, too, the board of examiners is constituted irrespective of economic requirements, and, as has been caustically said, it is rare to find the examiners academically qualified in the subjects in which they are supposed to examine. The position, in the main, is very similar to that prevailing in Prussia.
  4. Bavaria.— In the chief southern and south-western states Economics holds a more important position in the legal and civil service curricula. Thus, in Bavaria, all students of law, administration, and forest (Landwirth) have to pass an examination in which it forms one of the subjects. The time of the examination is at the conclusion of the four years devoted to legal or other studies respectively, and the presence of the Professor of National Economy among the professorial examiners necessitates due attendance at lectures and thorough study. The second examination for the civil service is technical in character, and only requires economic knowledge in its connection with practical developments and issues.
  5. rtemburg.—In Würtemburg, though Economics forms no part of the strictly legal examinations, in the other State examinations for administrative students it is of very great importance. For these there are two examinations, the first of which, more general in character than the other, takes place at Tübingen, and involves a very considerable acquaintance with Economics.
  6. Baden.—Every legal student, as well as every candidate seeking entrance into the higher employments in the State departments of revenue and administration, must, in his time, attend lectures on, and pass examinations in, the economic and financial sciences.

The varying positions which Economics holds in the examinations qualifying for State and legal employment in the different German states affect a large number of university students who have to pass these examinations, but do not of necessity take a degree. To them the connection of Economics with one faculty or the other in the university cannot be a matter of much importance, but with others the case is different. Students reading for the degree are, as has been already said, restricted now on one side, now on another, as to their choice of collateral subjects for examination. Sometimes they can offer Economics in connection with law, sometimes they cannot. In addition, the influence which kindred studies taught in one faculty may bring to bear on the methods of instruction may, in some instances, prove of not inconsiderable importance even in the case of the students studying for the doctorate. Professor Brentano, however, whose personal experience extends from Leipzig to Strassburg, from Vienna to Breslau and Munich, contends that the varieties of combination matter less than might seem probable. The facultative position of Economics varies considerably. In Prussia and Saxony they find place among the many heterogeneous subjects grouped together in the faculty of philosophy, though in certain places, as at Berlin, they fall into a distinct subdivision. At Berlin they belong to the Staats- Cameral-und Gewerbewissenschaften. At Strassburg (Reichsland) they combine with law to form a Rechts- und Staatswissenschaftliche Facultät. At Tübingen (Würtemburg) a Staatswissenschaftliche Facultät exists independent of the law, a practice identical with that current at Munich (Bavaria). At some universities, as for instance at Jena, economic lectures are largely attended by the students of Landwirthschaft.

A comparison of the studies preliminary to the doctorate in Germany with those in Austria reveals two chief points of difference. At German universities there is little prescription of the course of study, or, indeed, of the methods to be adopted by the student, who within certain wide limits has a perfectly free choice of subjects. But this comparative freedom from restraint is closely connected with the great importance attached to the thesis, a custom which, its critics urge, leads to premature specialisation. In both countries candidates for the civil and legal services are much more closely restricted to definite courses.

In their practical working the systems of the different universities bear a close resemblance, at any rate in their earlier stages. There are three main courses, delivered annually, on pure Economics, Applied Economics, and Finance, all of which, even the first, involve a careful study of economic fact as distinct from hypothesised theory. The extent to which the method adopted in the first course is empirical depends, of course, on the position of the teacher as an adherent of one or other of the opposing schools of economic thought; but, speaking generally, even the least empirical among them would be deemed empirical by those accustomed to English methods. But, in addition to these three annual courses, lectures are delivered on special subjects. At Freiburg (in Baden), in the summer semester of 1891, these were:

    • History of National Economy and Socialism.
    • Agrarian and Industrial Policy, including the Labour Question.
    • History of Statistics.

The list of special lectures at Berlin, to take the most completely equipped of the universities, shows more clearly the wide range of subjects dealt with under the term Economics. In the summer term, 1892, besides the ordinary annual courses, there were courses of lectures on the following subjects:

    • Theory of Statistics.
    • History of Statistics.
    • Statistics of the German Empire.
    • The Economic and Social History of Germany from the end of the Middle Ages to the Peace of Westphalia.
    • History and Modes of Industrial Undertakings.
    • Money and Banking.
    • Early Commercial and Colonial Policy (till 1800).
    • Industrial and Commercial Policy.
    • The Social Question.
    • Forms of Public Credit.

In addition to lectures, necessarily more or less formal, opportunities are afforded for systematic instruction in classes and in the seminar. The latter institution varies considerably, according to the character of the students frequenting particular universities, for its efficiency, and accord ing to the position of the professor undertaking it, for the direction of its studies. Each teacher collects around himself a group of students who follow his method, adopt his attitude, and frequently devote themselves to those branches of economic research which have occupied his attention. Thus, at Strassburg, Professor Knapp’s seminar deals chiefly with agrarian questions; at Berlin, Professor Wagner’s influence is seen in the predominance of finance and financial topics among the subjects discussed. At Munich, to pass to the question of organisation and method, the two professors join in holding a seminar in which “there are about twenty-four young men taking part. Each of them has to undertake some work: the younger ones get a book to read, and have to report on it; the more advanced have to treat a subject after reading several books on the subject; the most advanced have to make a work themselves, the professors aiding them in furnishing material and giving assistance.’ At some universities there are two seminars, at others one. It is a matter for regret that, with all these opportunities, a comparatively small number of students are ranked as advanced. The explanations offered are many, but probably a very adverse effect on the study is produced by the paucity of the positions to which a thorough economic study can serve as an introduction. Teaching posts are few, and the requirements in the State examinations for the legal and administrative services are, if not as in many cases nominal, strictly limited to an elementary knowledge.

In some of the technical schools, and in all the schools of commerce, instruction in some branch of economics forms part of the regular course, and, in these latter, an examination is held. In the former, however, the subjects thus taught are distinctly subordinated to the technical sciences which occupy the chief attention of the students, while in the schools of commerce only those branches receive adequate treatment which bear or appear likely to bear upon commerce in its practical aspects.

HOLLAND.

The connection between the universities and the legal profession is close in Holland, none but doctors of jurisprudence being qualified to practise as advocates. This is a circumstance which has a material effect upon the study of economics, inasmuch as this, in its more elementary branches, forms one of the obligatory subjects of the first examination for the degree. Thus, so far as this one profession is concerned, a certain knowledge of economics is necessitated.

In the higher administrative service no such knowledge is obligatory, but it is considered that officials who possess the degree of doctor of political science have better chances of promotion. For this degree a thorough study of economics is required. In certain other government services demand is made for acquaintance with certain branches of the subject. In the examinations for the consular service the ‘general principles of economics’ and the ‘elements of statistics,’ chiefly with regard to trade and shipping, form subjects of examination. A similar knowledge is required for the diplomatic service. In none of these cases, it should be noted, is attendance at specified courses compulsory. The subject forms part of the examination.

The requirements indicated above explain to some extent the position which economics occupies in the four Dutch universities. It is a necessary subject for two degrees—the doctorate in laws and the doctorate in political science. But the nature of the knowledge required differs greatly. In the former it is elementary, not going beyond the first principles of the theory, while in the latter case the examination necessitates a really careful and detailed study. In addition to the general course of lectures taken by all, candidates for this latter distinction usually attend two other courses, one in capita selecta (taxation, finance, socialism, &c.), and another in statistics. These courses, unlike those at German universities, extend throughout the academic year, i.e. from September to July. For advanced students discussion classes are held, where the students, after a previous study of a chosen subject, meet to discuss it among themselves and with the professor. Before proceeding to the degree of doctor a candidate has to write, and afterwards to defend, a dissertation on some branch of the general science which he has taken up. Thus, in the case of political science, the thesis may be on some economic question. Outside the universities the chief study of economics takes place in the intermediate schools, where, during the fourth and fifth years of the five years’ curriculum, it is taught for two hours weekly by a doctor of political science, or by another teacher duly qualified by a special examination. At the Polytechnic at Delft there is a chair of economics, but neither is attendance at the course obligatory, nor does it form one of the subjects of examination.

BELGIUM.

By the law of 1890, which provides the regulation for higher instruction, political economy is made obligatory for the attainment of the degree of doctor of laws, a distinction proving a professional qualification, and for the grade of engineer, the course for the former involving some forty-five lectures, that for the latter some fifteen. In both cases the subject is taken in the earlier years of study. Students training for these professions would appear to form the great bulk of those attending economic lectures at the universities. In neither case can the course be said to furnish more than elementary instruction.

The universities have made provision outside these State requirements for more advanced students. The candidates for the degree of doctor of political science have to show a more thorough acquaintance with economic subjects. At the University of Ghent the course which is provided for them is considerably longer; still more stringent regulations prevail at the University of Louvain, for the degree of  ‘docteur en sciences politiques et sociales.’ The important regulations are as follows :—

ART. 5.

Pour être admis à l’épreuve du doctorat il faut:

    1. Avoir acquis depuis une année au moins le grade de docteur en droit.
    2. Avoir pris une inscription générale aux cours du doctorat en sciences politiques et sociales et avoir suivi les cours sur lesquels porte l’épreuve.
    3. Présenter, sous l’approbation du président de l’École, un travail imprimé sur un sujet rentrant dans le cadre du doctorat.

ART. 7.

L’épreuve comprend un examen oral d’une heure et demie. Cet examen porte:—

    1. Sur six branches portées comme principales au programme de l’École.
    2. Sur deux branches au moins choisies parmi celles qui sont portées comme branches libres au programme de l’École ou—avec l’autorisation du président de l’École—parmi celles qui sont portées au programme de l’université.
    3. Sur le travail présenté par le récipiendaire.

The list of lectures for the two years’ curriculum, 1892-3, 1893-4, is as follows :-

For the first year—Histoire parlementaire de la Belgique depuis 1830, la législation ouvrière comparée ; le droit public comparé; de la neutralité de la Belgique et de la Suisse; du régime légal des sociétés commerciales en droit comparé.

For the second year—Histoire diplomatique de l’Europe depuis le Congrès de Vienne; l’Evolution économique au XIXe siècle; les institutions de la France et de l’Allemagne; lé régime colonial et la législation du Congo; les associations en droit comparé.

Seminar or class instruction is given at the universities, though the particular form it takes varies with the other organisation provided, and the character of the students. At the University of Ghent a class supplementary to the lectures is formed, where discussion takes place; at Louvain Professor Brants directs a ‘cours pratique,’1 the members of which (some dozen in number) write treatises, discuss economic movements, and make excursions to centres presenting features of economic interest.

1Conférence d’Économie Sociale. Rapport sur ses travaux, 1891-92. Louvain.

ITALY.

Outside the universities there are in Italy but few institutions which give much instruction in economics. Though courses are delivered at the superior schools of commerce, as, for instance, at Genoa, Venice, and Bari, and the Polytechnic School of Milan, which compare in their nature with those existing at similar places in Austria and Germany, the main aim of such schools, and the limited extent to which they are frequented, prevent them from obtaining any control over the development of economic teaching in the country. It is, then, to the universities that we must look for information as to the methods chiefly employed. At them economics is studied as a subsidiary subject to law, being taken by students in their second year. There are three courses at which attendance, or, to speak more accurately, inscription is obligatory on legal students. In the case of the three obligatory courses the attendance is fairly regular, owing, it is said, to the combined effect of the latitude allowed in the teaching of the subject and the position of the professor as examiner. Without passing the economic examinations students cannot attain to legal degrees. The courses are those in Economic Theory and Administration, Finance, and Statistics. According to the condition of the university these are taught by the same or different teachers, in most cases by the professors who are appointed and paid by the State. In addition to these courses others are given at the option of the teachers, either professors or docents. The attendance at these is not good, though in many cases a large number of students enter themselves as a mark of courtesy towards the lecturer. It costs them nothing, as they pay a compound fee, and it benefits him considerably if a docent, as he receives from the State a payment proportionate to the number of students registered for his courses. In addition to the examination, a candidate for the legal degrees presents a thesis which may, and not infrequently does, deal with some economic subject.1 The study of economics is, moreover, obligatory on students seeking the higher official careers. Many complaints are made as to the position occupied by economic studies in Italy. Their connection with law creates no doubt a certain and a large audience in the lecture room; but, as one Italian professor points out, students do not remain there long enough to acquire anything like a sufficient knowledge of the subject. They come from the schools wholly unprepared, and they leave the university without having undergone a training thorough enough to counterbalance the loose economic notions gathered from their more diligent study of the newspapers. The study of economic facts does not seem to have had sufficient place in the universities of Italy. Attempts are now being made to remedy this defect by the formation of discussion societies among the students of economics, and the encouragement of research into statistical and similar questions.

1Professor Tullio Martello calculates that at the University of Bologna some 15 per cent of those graduating in law present a thesis dealing with economics.

At the minor technical schools lectures are delivered on elementary economics, finance, and statistics.

RUSSIA.

The conditions under which Economics is taught in Russia bear a superficial resemblance to those prevalent in the Latin countries, where it is annexed to the study of law, and pursued very much as a subject of secondary importance. Here, too, it forms part of the regular training through which a jurist must pass in his four years’ curriculum. There are three economic courses which he must attend, and in the subject-matter of which he must display sufficient knowledge in the May State examinations. These are on Economic Theory, Statistics, &c., and Finance. In addition to formal lectures, the professors in charge of the subject may, and sometimes do, organise classes, discussion societies, or seminars, though attendance at these is not obligatory.

The provision for further and more detailed study is considerable. A student who has finished his law studies with a diploma of the first degree can remain in the university, if he wishes, for more special research in one or other subject (Roman law, political economy, private law, financial law, &c.), under the supervision of the special professor or professors. Such a student is examined, and, if successful, obtains the title of magistrandus of the subject in question. Then he must present a dissertation and defend it, after which he obtains the degree of magister. After a second dissertation and disputation he attains the higher degree of doctor of his special subject.

UNITED STATES OF AMERICA.

The conditions under which the study of Economics is carried on in the United States of America are widely different from those which prevail in the countries of continental Europe. On the one hand, there is no inducement held out to students by its inclusion among the subjects of state or professional examinations. On the other, there is evidence in the importance which such subjects have assumed at the universities and colleges of a strong public sentiment in favour of their careful study far exceeding that in existence either in these countries or in the United Kingdom. In one respect the regulations of the colleges have had an important effect, independent of the action which they have taken in respect of the strong public demand. Owing to the freedom of the students in most of these institutions from prescribed and compulsory courses of study in most stages of their career, Economics has escaped being relegated, as, for instance, in England, to the position of a subject outside the usual curriculum, and optional only in some one or, perhaps, two stages. Where such prescription does exist it is not deemed a subject necessarily unfit to form part of a compulsory general course. Its inclusion, to some extent, would probably be demanded by the strong public opinion which has grown up during the past twenty years.

The causes of the popularity of Economics are stated with fair unanimity by various writers, though their respective importance is very differently estimated. In the first place, the very novelty of economic studies is itself in favour of their ardent prosecution. Till comparatively recently, it has been said till between 1870 and 1880, they were disregarded because unknown. Now they are seized, studied, and followed because they offer, or seem to offer, an explanation of the vast and complex economic condition which is in process of rapid evolution in this country at once so great and so new. So, too, in England some half century back or more the theories of the economists of that time were received by large numbers as an intellectual gospel. But in the next place the circumstances attending this ‘novelty’ of study have considerable consequences. That the study of Economics is a novel study is important, but it is of equal importance that it is novel at the present time and under present conditions. The American economists have not to shake off the half-uttered, half-silent opprobrium attached to their subject through the action of the more numerous though less conspicuous of their predecessors in their rigid adherence to incomplete or ill-founded theories. They are fortunate in entering upon their teaching at a time when the need of inductive inquiry and training is more fully recognised. This gives a more systematic aspect to the economic instruction demanded from them than was the case in England. In the third place, the campaign in favour of civil service and tariff reform has drawn a great deal of attention to those departments which deal with finance and the more prominent aspects of political life. Lastly, it is urged that the political eagerness which so largely affects the younger generation of Americans combines with the foregoing to crowd the economic lecture rooms with anxious and willing students. Economics is needed by politicians, and ‘we are all politicians,’ writes one professor; it is needed by journalists both because they are keen for political knowledge themselves and because they write for politicians.

The same causes which stimulate economic students have often led to its connection with political science, with history, and in some instances with general sociology.

Returns from several of the universities show the large number of students who attend economic lectures, and the comparatively large number who pass into advanced courses. The universities differ so much among themselves that no common standard of teaching exists. In some the elementary courses are very elementary, in others more thorough than might be concluded from the name. Thus at Harvard these include a study of Mill’s ‘Principles of Political Economy,’ lectures on general theory, or on what is termed descriptive economics, including a survey of financial legislation, while in addition a course is provided on the Economic History of England and America since the Seven Years’ War. In some cases a great part of the junior work consists in the use of text-books, and proceeds rather by class instruction and interrogation than by lecture. Turning to the consideration of the courses organised for the more advanced students, it is highly satisfactory to note the very considerable proportion which these form of the total number engaged in economic study. According to the information collected from various quarters, at Harvard they amount to some 38 per cent; at Columbia College to 41 per cent; at Cornell to 26 per cent. At some others they do not present so favourable an appearance, though at Michigan I am informed that the twenty returned as ‘advanced’ consists entirely of very advanced students, all the others being included under the heading of elementary. No doubt students described as advanced at one institution may not be so regarded at others, for, as has been already suggested, these vary very greatly as regards both their courses and the attainments of their students. With regard to the former, those provided at some of the better known and more highly developed and equipped universities afford a description of the nature of the training offered in the United States. At Harvard the advanced courses for the year 1892–93 are as follows:—

Full courses

    • Economy Theory—Examination of Selections from leading writers.
    • The Principles of Sociology—Development of the Modern State and its Social Functions.
    • The Social and Economic Condition of Working Men in the United States and in other Countries.
    • The Economic History of Europe and America, to 1763.

Half-courses

    • History of Tariff Legislation in the United States.
    • Railway Transportation.
    • The Theory and Methods of Taxation.
    • History of Economic Theory down to Adam Smith.
    • History of Financial Legislation in the United States.

At Columbia College the courses are as follows:—

    • Elements of Political Economy.
    • Historical and Practical Economics.
    • History of Economic Theories.
    • Science of Finance.
    • Science of Statistics.
    • Railway Problems.
    • Financial History of the United States.
    • Tariff and Industrial History of the United States.
    • Communism and Socialism.
    • Taxation and Distribution.
    • Sociology.

At Cornell the lectures which succeed the purely elementary ones are not quite so full, but consist of courses on—

    • Economic Reforms.
    • Finance.
    • Economic Legislation.
    • Statistics.
    • Economic History.
    • Financial History of the United States.

There are few universities which do not offer some courses beyond these on elementary theory and history. As a rule, finance and some other branch of applied economics are added. Where graduate schools have been established, as, for instance, at Harvard and at Michigan, the study proceeds very much on the lines indicated above, so far as the former is concerned. At Michigan, the advanced courses are distinguished into intermediate and graduate. Intermediate courses treat of the following:—The Transportation Problem. Principles of the Science of Finance. Theory of Statistics. History and Principles of Currency and Banking. History of the Tariff in the United States. History and Theory of Land Tenure and Agrarian Movements. Industrial and Commercial Development of the United States. History and Theory of Socialism and Communism. History of Political Economy. Graduate courses:–Critical Analysis of Economic Thought. Critical Examination of the Labour Problem and the Monopoly Problem.

Most universities have, in addition, established seminars, where study proceeds on the lines with which continental students are familiar. Individual members, in most instances graduates, and all advanced students, undertake particular subjects on which they prepare reports or treatises to be read and discussed at the weekly meeting. During their researches they are more or less under the direction of the professor or teacher who undertakes the courses in connection with the department of economics under which their subject falls. At Yale there are two seminaries and one discussion society; at Columbia College there is one for students who have studied only one year, two (in Economics and Finance) for those who are more advanced. The value of the work produced differs, of course, with the character of the university. At Harvard and the other more highly developed universities it is naturally very high.

In certain other countries the attention given to the subject of Economics demands for different reasons less detailed notice. In some instances the resemblance to countries already described renders further description superfluous; in others the geographical limitations of the country, or the comparative absence of opportunities for such special branches of the higher education, necessitate a much slighter notice than that given to the foregoing countries.

In Spain the connection between economic and legal studies is very similar to that existing in Italy. Students of the first and second year attend courses in Economics and Finance, Statistics being apparently nowhere insisted upon. At some of the universities an attempt is made to supplement these elementary courses by conferences and by visits, both to industrial undertakings, as factories, mines, &c., and to financial establishments, as banks; while the introduction of sociological institutes or seminars is looked for at others, as, for instance, at Oviedo.

In Sweden ‘there are two professors of political economy, one at the University of Upsala, one at the University of Lund, both belonging to the Faculty of Law, and teaching in addition to Political Economy some purely juridical subjects. There are also two professors in Politics and Statistics, one at Upsala, one at Lund, both belonging to the Faculty of Arts, and teaching at their discretion, Public Law, either Swedish or foreign, and Statistics.’ ‘The two professors of Political Economy in the Faculty of Law have to prepare and examine all the students who go in for the State examinations for entrance to the different branches of the civil service. But as Political Economy possesses very little importance in any of the three forms of these examinations, as compared with Jurisprudence, little stress is laid on its study in this faculty. Of the two other professors, one (at Upsala) lectures chiefly on Politics, the other on Statistics, both these studies being optional for the two arts degrees. The theory of Political Economy is not taught. Seminar instruction is arranged to supplement that given in the lecture courses.

In Norway, at the University of Christiania, the system is nearly identical with that of Sweden. There, too, it is found that, owing to the complete subordination of Economics to Law, the knowledge required is elementary in character.

The same impulses which direct the attention of young Americans to the study of Economics are felt in Canada. At the University of Toronto the importance attached to such studies is adequately shown by the large attendances present at the several courses. These courses are carefully arranged and graduated so as to furnish the student with a sound knowledge of the various branches of the subject, and to fit him to undertake, as he is expected to do in his latter years, research into some branch of economic fact.

In Switzerland, the position held by economic studies is, on the whole, at least as favourable as that in the southern countries of Germany. A knowledge of Economics is obligatory on those entering the legal profession, while, owing to the arrangements made, the duty of examining the candidates may, and in practice, I believe, does fall largely on the university professors. Moreover, in the university curricula, the place of economics, so far as Berne is concerned, is very fortunate. True, the subject is optional, as indeed are all subjects for the doctorate, but it may be taken for either the legal or the philosophical doctorate (Dr. Juris, or Dr. Phil.). At the Zürich Polytechnicon it is taught, being obligatory in some form or other for the diplomas of forestry and agriculture. In addition there is a fair voluntary attendance at these lectures. The system of instruction presents no features requiring particular notice. The chief courses are on National Economy and Finance, with the frequent addition of Practical Economics. These are supplemented by special courses at the option of the teacher, and by the seminar.

 

APPENDIX II.

On Economic Studies in France.
By Henry Higgs.

Economic teaching in France, so far as it consists of lectures regularly delivered at the same place by the same person, is to be looked for in—

(i.) The Collège de France, Paris;

(ii.) The Conservatoire des Arts et Métiers, Paris;

(iii.) The Université de France, consisting of the aggregate of local ‘universities,’ or faculties officially recognised, in Paris and the provinces;

(iv.) The free or unofficial faculties and schools in Paris and the provinces, including all the Catholic ‘universities’ (which cannot come to terms with the State on the question of the faculty of theology), the École Libre des Sciences Politiques, Paris, and others.

A certain amount of economic instruction is also imparted in the Écoles supérieures du Commerce, generally endowed by the municipalities of commercial towns. Elementary notions of Economics are officially prescribed as part of the programme of elementary schools.

(i.) It is at the Collège de France that one expects to find leading teachers of Economics in France. The traditions of its chair (which was founded in 1830), and the authority vested in its occupants, added to the attractions of a scientific post in Paris, have been a sufficient inducement for the most eminent economists to offer themselves for appointment here. The stimulus of contact with growing, vigorous, and inquiring minds is not, however, afforded to the professors, and they have to fight against a tendency to fall into prosy sermons and easy repetitions of old theory. No fees are charged to the students, nor is any record kept of their names unless they wish to obtain certificates. The lectures are delivered twice a week (two on Economics by M. Leroy-Beaulieu, and two on Statistics by M. Levasseur), in the afternoons. The auditors are for the most part a casual collection of shifting persons, of whom many are foreigners passing through Paris, who attend once or twice out of curiosity to see the lecturer. There is no discussion either during or after the lectures. The professors are paid a fixed stipend by the State. They appear to regard their lectures in the main as vehicles for the dissemination of generally received economic theory. So far, however, as they employ their leisure in prosecuting original research, their stipends may be regarded as an endowment for the advancement of Economics. Their personal examples are stimulating. It would be difficult to mention two more active economists in Europe. But in their lectures they are perhaps too dogmatic to supply students with the zest of grappling with ‘unsettled questions,’ or with the incentive to enlarge, however little, the bounds of knowledge by pointing out to their hearers the frontiers of ignorance which are often in sight.

(ii.) The oldest chair of Political Economy is in the Conservatoire des Arts et Métiers, and was first filled, in 1819, by J. B. Say. The instruction now given here is of a more popular character, consisting of lectures addressed to the working classes at a late hour of the evening. M. Levasseur delivers a five-year cycle of about fifty lectures a year on Economics, and M. de Foville a four-year cycle on Industry and Statistics. There are on the average from 300 to 400 auditors. They pay no fees. The professors are appointed and paid by the Government.

(iii.) By a law passed in 1877 Economics was for the first time officially incorporated into the organisation of higher education in France, by being made an obligatory subject in the second year’s studies of the faculties of law. Economics in France has, it is said, laboured under the disadvantage of offering no opening for a career. On the other hand, the youth of the country flock to the schools of law, for to lawyers all careers are open— politics, journalism, literature, education, legal practice, and many official appointments. The professor of law is overworked, and the professor of Economics underworked. The faculty of law, therefore, generally expects of its professor of Economics that he shall be able to help in legal instruction and examinations; and there has been a tendency to select a lawyer rather than an economist for these chairs. This reproach, however, is rapidly being removed, and the new professors of Economics are in many cases vigorous and promising in their proper spheres. Economics has recently been transferred from the second to the first year’s programme. The law students are said to show a better intelligence of law now that they also study Economics. It can hardly yet be stated what effect this organisation will produce on Economics itself.

In addition to this obligatory study, Economics may be taken as one of the eight optional courses at a later period of preparation in the law faculties. For this purpose there is generally a special course of lectures on Finance, in which financial legislation is a prominent topic; but the option in favour of Economics is not much exercised.

The professors and lecturers in Economics and (in italics) in Finance in the official faculties of law are as follows:—

Paris. MM. Beauregard, Alglave and Ducrocq; Fernand Faure (Statistics); Planiol (Industrial Legislation); Maroussem (Monographs).
Aix: M. Perreau.
Bordeaux: MM. St. Marc, de Boech.
Caen: MM. Willey, Lebret.
Dijon: MM. Mongin, Lucas.
Grenoble: MM. Rambaud, Wahl.
Lille: MM. Deschamps, Artus.
Lyons: MM. Rougier, Berthélémy.
Montpellier: MM. Gide, Glaise.
Nancy: M. Garnier.
Poitiers: MM. Bussonnet, Petit.
Rennes: MM. Turgeon, Charveau.
Toulouse: M. Arnault.

There are also at Montpellier lectures on industrial legislation by M. Laborde.

(iv.) The position of the Catholic ‘universities’ has already been referred to. While following the lead of the State in associating economics with law, they have the advantage of recruiting among their students a large number of those who desire to enter the Church with a training in economic science as an aid to the study of social problems. The respective professors are MM. Jannet (Paris), Baugas (Angers), Béchaud (Lille), Rambaud (Lyons), and Peyron (Marseilles).

The École Libre des Sciences Politiques, Paris, directed by M. Boutmy, is perhaps the most hopeful academic institution in France for the promotion of economic study. Lectures are given by MM. Cheysson (Economics); Stourm, Dubois de Lestang, Plaffin, Courtin (Finance); Levasseur (Statistics); Dunoyer (History of Economics since Adam Smith); Arnauné Foreign Trade and Customs Laws); Lévy (Banking); P. Leroy-Beaulieu (Colonial Systems); Paulet (Industrial Legislation); and Guieysse (Industrial Problems). In addition to these lectures, which are well attended by paying students, there are discussions and classes for original work on the seminar plan. Travelling scholarships are also given, and excellent work is done, to which the general scheme of instruction largely contributes. The primary function of the school is the thorough intellectual equipment of young officials for the State. Foreign languages, travel, and comparative study of laws and social institutions are encouraged, together with an intelligent interest in history and politics. The personal assistance rendered to individual students by the professors, the seminar, and the scholarships, the comprehensive breadth of view, and the rigid impar. tiality of this school are, as yet, unique in France.

Other economic lectures in Paris which require mention are those of M. Colson, at the École Nationale des Ponts et Chaussées (where the Government non-military engineers and road surveyors are trained), of M. Cheysson at the École Nationale des Mines (also under Government), of M. F. Passy at the École des Hautes Études Commerciales (endowed by the municipality), of M. Émile Chevallier, &c. Lectures (by M. Guérin) are organised by the Société dEconomie Sociale, founded by Le Play. M. Demolins, the leader of a secession from this school, also delivers a course of lectures. There is, on the whole, too much diffusion of separate economic lectures in Paris.

An impressive plea has lately been published by M. Chailley-Bert for the recognition of distinct economic faculties, and for such endowments as will spare professors from the need of spending their time and brains upon accessory sources of income.

APPENDIX III.

On the Condition of Economic Studies
in the United Kingdom.
By E.C.K. Gonner.

Though the full extent of the disadvantages under which economic study in this country suffers can only be realised from a fairly detailed account of its position in the various universities and with relation to certain professions, it will not be out of place to preface this report with a few words as to their nature.

(a) In the first place it is a matter of serious concern that economics is not regarded as a necessary part of any professional curriculum. This particular hardship, however, might be faced with comparative equanimity were there existent in this country, as for instance in the United States of America, a strong body of popular feeling in support of its study and its efficient teaching. But, despite frequent assertions to the contrary, I believe, and in this I shall have the concurrence of many colleagues engaged in teaching, that there is no such body of feeling. Its absence has been variously accounted for. To a great extent it is no doubt part of the legacy of distrust and misunderstanding due to the false view of Economics placed before a former generation, and it will probably be a long time before the popular conception of an economist as a compound of text-book theory and ignorance of fact can be entirely dispelled.

(b) Owing largely to the early prominence of the abstract school of economic thought in England the position which the subject holds in the University curricula is far from satisfactory. It is treated as a subject narrow in scope and subordinate—necessarily and naturally subordinate— to other subjects. But this is by no means the position which it should hold, and now that the importance of the studies of economic fact and administration is more clearly seen, the impossibility of effective teaching within the prescribed lines has become glaringly apparent. At present indeed English economic teaching is without a regular system. It is usually supposed that prescribed University courses should offer a means of systematic training in the various subjects, the pass courses of ordinary training, the honours courses of advanced and thorough training. So far as Economics is concerned, this is precisely what the Universities do not provide. With one possible exception they offer at the present time little more than isolated opportunities of showing economic knowledge in examinations primarily devoted to other subjects.

In the United Kingdom the encouragement of the study of Economics rests entirely with educational bodies. So far as professional examinations and curricula are concerned it meets with almost universal neglect. This is wholly so with regard to the examinations qualifying for the practice of law, either as barrister or solicitor, and partly so in the case of the Civil Service Examinations. For these latter Economics may be taken up, as may almost any other subject included in the Sciences and Arts. It is not recognised, that is to say, as more cognate to the administrative callings for which these examinations qualify, than is Chemistry, for instance; indeed, in comparison with many of these other subjects it is at a discount owing to the smaller maximum of marks assigned to it. In other words, it is excluded from the legal curriculum; in the Civil Service Examinations it is an optional but not an important subject. Elementary Political Economy is one of the optional subjects in the examination for chartered accountants, and is obligatory on candidates for the voluntary examination recently instituted by the Institute of Bankers.

At the Universities it receives an insufficient recognition in the degree courses, but as its position varies a great deal a brief summary of the usages of the various Universities with regard to it may be given. Degrees are granted in England by the five Universities of Oxford, Cambridge, Durham, London, and Victoria; in Scotland by the Universities of Edinburgh, Glasgow, Aberdeen, and St. Andrews; in Ireland by Trinity College and the Royal University of Ireland.

ENGLAND.

At Oxford it is an optional subject which may be taken up as one of the three selected subjects for the pass B.A. degree. As studied for this examination it is mainly elementary and largely theoretical, many of the questions relating to certain prescribed portions of the works of Adam Smith and Walker. To pass this examination, for which the yearly number of candidates presents an average of two hundred, demands common sense and a fair general acquaintance with leading Economic topics. A paper on Economics is included among those set in the Honour School of Modern History.

At Cambridge the position occupied by Economics in the University curricula is far more satisfactory. In some shape or other it forms part of three degree examinations. All candidates for the ordinary pass B.A., after passing the general examination, have to take up a special subject for their concluding study. Of these, sixteen in all, there are seven arts special subjects, one of which is Economics. The special examination in Economics (Political Economy) consists of two parts, which may be taken at separate times:—

Part I.—Three papers.

    • Two in General Economic Theory.
    • One in Economic History.

Part II.—Three papers.

    • Two in Taxation and Economic Functions of Government, with History of Trade and Finance, 1760–1860.
    • One in General Theory of Law and Government.

In the Moral Science Tripos (Honour B.A.) there are six obligatory papers, two being assigned to Political Economy (i.e. Theory), while in addition advanced Political Economy ranks as one of the optional subjects, two of which must be passed in by a candidate desirous of being classed. Lastly, in the Historical Tripos (Honour B.A.), one paper is in Economic History, the paper on general History of England also being supposed to require some Economic knowledge. Further, candidates who desire it may take Political Economy and theory of Government with International Law as an alternative to the study of a second special subject. Of these three examinations the one which seems most satisfactory, so far as Economics is concerned, is the special for the pass B.A., which embraces at once the four important branches of administrative, theoretical, historical, and financial Economics, and it is to be regretted that it has not yet been possible to organise an Honour examination on corresponding lines, but wider and more advanced. Were such in existence it would furnish English students with similar encouragement to systematic study and similar opportunities to those provided in the better developed Continental schools.

In the University of Durham, in addition to the obligatory subjects, two optional subjects have to be chosen by candidates for the degree. These are selected out of a number of subjects, of which Economics is one. The knowledge required is not of an advanced nature.

In the University of London Economics holds no position but the somewhat unfortunate one of an optional subject for candidates proceeding from the B.A. to the M.A. degree in Moral Science, a position which at once restricts the number of students likely to study it, and prevents its study from extending beyond the knowledge of general theory. It is not a subject, either optional or obligatory, at any other examination.

In the Victoria University Economics, comprising Political Economy and Economic History, forms one of the twelve optional subjects, of which two have to be selected for the final year of study by candidates for the pass B.A. degree, the two other subjects being more or less restricted. Economic Theory or History may also be taken in conjunction with Modern History as one subject by candidates who wish, for instance, to take Modern History but not Ancient History. As, however, nearly all the other subjects are, with some difference of standard or period, subjects at the Intermediate or Second-year Examination, in some instances compulsory, and again in certain cases subjects at the final examination, the study of Economics, involving as it does the entry of the student upon a wholly new subject during his final year, is naturally discouraged. Further, Economic Theory (Political Economy), like any other arts or science subject, may, by permission, be substituted for one of the two selected general subjects, Ethics or Modern History, at the intermediate stage of the Law degree (LL.B.). A course of lectures in Political Economy has to be attended by candidates for the Honours degree in History. It is not a subject in the examination.

SCOTLAND.

By the regulations of the Commission applicable to all Scotch Universities Economics holds a two-fold position.

(a) With regard to the ordinary M.A. examination, it is one of the three optional subjects which have to be selected out of the usual arts and science subjects. In all, seven subjects must be taken, but of these four are more or less prescribed. The course which must be attended consists of at least 100 lectures.

(b) It is further a compulsory subject for the first examination for the Agricultural B.Sc. In this case the knowledge required is much slighter, and naturally much more closely related to rural economy.

IRELAND.

At Trinity College Economics is part of one of the seven groups in which the Honour degree may be taken, the other subjects in this group being History and Law. All candidates for the law degree must be graduates in Arts, but not necessarily graduates in honours, or if in honours, in this particular group. It is also included among the options for the pass degree.

In the Royal University of Ireland Economics (Political Economy) is an alternative with Ethics in one of the three groups, one of which must be passed by candidates for the ordinary pass B.A. In the examinations for the Honour degree (B.A.) it, with Civil and Constitutional History and General Jurisprudence, constitutes one of the six groups open to the student. It holds a very similar position in the examination for the M.A. degree.

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The foregoing account shows clearly how little opportunity is given for the systematic study of Economics as a preliminary to degree examination, and especially in the case of honours. It is certainly very unfortunate that an able student anxious to graduate in honours is almost precluded from devoting a large amount of attention to the study of Economics.

In face of this tacit discouragement, so far as examinations are concerned, the provision for teaching made in many places by colleges and universities is almost a matter for surprise. At both Cambridge and Oxford it is satisfactory in all but one respect. It is varied, copious and comprehensive, but—and this is a matter of regret—it is not systematic. At each of these universities there is a professor engaged in active teaching, while other lecture courses are provided by college lecturers. At the universities and colleges in the rest of England the provision for teaching is of necessity less complete. At those best equipped, instruction in Economics depends on the energy and vigour of a single teacher, supplemented, perhaps, by an occasional course of lectures by some other Economist, while at the rest, if taught at all, it is attached to the duties of a teacher principally engaged in, and probably principally interested in, teaching some other subject, for, as a general rule, the teaching of Economics in conjunction with some other subject has meant little more than that the teacher of some other subject has had to give a course of lectures on General Economics. At two of the three colleges of the Victoria University Economics has separate teachers, at Liverpool one holding the rank of professor, at Manchester one holding that of a lecturer. At Leeds, on the other hand, there is no teacher of Economics. At the other university colleges in England the two London colleges possess each a professor, though the professor at King’s College delivers Economic lectures only during the six winter months. At the University College, Nottingham, Economic lectures are delivered by a professor at the same time engaged in teaching history and literature. The other colleges (Birmingham, Bristol, Sheffield, and Newcastle) at present make no provision for teaching a subject which they find so discounted as a subject for examination.

In Wales two of the University Colleges (Aberystwith and Cardiff) have made some sort of provision for Economic teaching by the appoint. ment of lecturers in History and Political Economy, while at Bangor Economics is tacked on to the duties of the Professor of Moral Philosophy.

In Scotland there is a fully instituted chair of Political Economy at the University of Edinburgh, and measures are in progress for the endowment of a Professorship at Glasgow, where the Economic work has recently been performed by a lecturer acting as assistant to the Professor of Moral Philosophy. At St. Andrews a yearly course of lectures is delivered by the Professor of Moral Philosophy.

In Ireland, at Trinity College, Dublin, there is a Professorship of Economics. At the Queen’s Colleges of Belfast, Cork, and Galway this teaching is combined with that of Jurisprudence, and limited to a very short portion of the year. Owing to the great differences existing between the courses delivered at the various institutions, and the entirely diverse character of the respective audiences, it is impossible to give any satisfactory statistics of attendance. From most quarters come complaints. Indeed, with the two possible exceptions of Oxford and Cambridge, it is difficult to imagine a more complete indifference to the scientific study of Economics than that displayed at the present time.

In addition to lectures, more informal instruction is often imparted to more advanced students, but the formation of a seminar in Economics has been undertaken but seldom, if at all. That this is due not to lack of will on the part of the teachers in those colleges where Economic teaching is entrusted to a separate teacher, but mainly to the singular deficiency in advanced or even moderately advanced students, is shown by the readiness with which individual instruction, often involving much sacrifice of time, is given to such students when they do present themselves. Such an institution can be successfully introduced only when Economic studies are so recognised as to be able to attract the abler students in a university or college.

Attempts to develop popular Economic instruction by means of evening classes, and separate courses of lectures, have been made by the University Colleges and other institutions, and by the Societies for the Extension of University Teaching; and at some of the former particular attention has been paid to the Economic teaching, noticeably at Owens College, Manchester, and University College, Liverpool. The class of students attracted to these lectures may be spoken of very favourably. From the reports and information supplied by the Societies, it would seem that though the attendance at Economic courses, when given, is good, the demand for them is not very great. The interest shown in the subject in some one or other of its branches is said to be reviving—certainly to be greater than it was some few years ago. There has been a decided increase in the demand for lectures on Economics, and subjects partially economic, during the last two years.

Economic studies in England require at the present time organisation and encouragement. As to the ability of English Economists and the quality of their contributions there can be no doubt; but, when compared with continental countries, England is sadly lacking in the number of Economic students. Where they have many, she has few. As has been said, this is largely due to the unfortunate positions to which Economics has been relegated in many Universities, and its neglect so far as professional callings are concerned. On the other hand, the revival of interest in Economic matters, so abundantly manifested, makes it more than ever desirable to provide means and opportunities for sound scientific training.

Source: Methods of Economic Training in this and other Countries. Report of the Cunningham Committee, Report of the Sixty-Fourth Meeting of the British Association for the Advancement of Science held at Oxford in August 1894, pp. 365-391.

Also: at the Biodiversity Heritage Library Website; and at Harvard College Library, Gift of the Overseers Committee to visit the Department of Economics.

Image Source: William Cunningham page at the Trinity College Chapel website.

 

Categories
Harvard Teaching Undergraduate

Harvard. Senior year political economy. Levi Hedge, 1825-30.

Political Economy was in the Harvard undergraduate program at least since 1825 when Levi Hedge included Jean Baptiste Say’s Treatise of Political Economy  (a textbook that cost approximately $67 in 2021 prices) as part of the senior year course in the offerings of the department of moral philosophy, civil polity and political economy. 

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DEPARTMENT OF MORAL PHILOSOPHY, CIVIL POLITY, AND POLITICAL ECONOMY.

This is at present exclusively under the superintendence of Levi Hedge, LL. D., Alford Professor of Natural Religion, Moral Philosophy, and Civil Polity.

Instruction in this branch is conducted through studies and recitations in Stewart’s Elements of the Philosophy of the Mind; Paley’s Moral Philosophy; Brown’s Philosophy of the Human Mind, abridged by Dr. Hedge; Say’s Political Economy; and Rawle on the Constitution of the United States.

These studies commence with the Junior year, in Stewart’s Elements; the first volume of which the Class finish about the middle of October. After this they enter upon Paley’s Moral Philosophy, which they finish usually by the end of the first term. After the end of the first term, the Juniors do not recite in these branches during that year.

Recitations are made in divisions, each consisting of one half the Class. About two thirds of each division are taken up for examination at each recitation.

Besides the above, the Juniors have a Forensic exercise, under the instruction of the Professor in this branch, every other week, on Friday; the Junior and Senior classes alternating weekly with each other in this exercise.

Recitations in this branch are heard six days in the week; one division immediately after prayers, and the other division immediately after the study bell (about 8 o’clock); an hour being occupied with each division.

The Forensic every other Friday occupies two hours.

ln the Senior year instruction in this branch is recommenced, with Brown’s Treatise on the Mind. Both volumes of this work are finished by the sixth or seventh week of the second term. The Class then enter upon Say’s Political Economy, which is finished by about the eighth week in the third term. Rawle on the Constitution then succeeds in the course, and with it instruction in this branch ceases.

Rawle is one of those studies, which are denominated “optional”; it being within the option of each individual to study this work, or Smellie’s Natural History with the instructor in that branch. In all the books used as studies in this department, about twelve pages constitute the average length of a lesson.

Besides the preceding, two lectures are delivered every week during the second term (on Mondays and Wednesdays, at 10 o’clock) one hour each, on Civil Polity and on Locke’s Essay on the Understanding.

The members of this Class also each deliver a Forensic every other week, alternating, as above stated, with the Juniors, weekly in this exercise.

Recitations are heard in this branch in the first term for two hours in the afternoon, five days in one week, and four days in the next week, and so alternately through the term; the afternoon of every alternate Friday being reserved for the Forensic.

In the second and third terms, this Class recite to the Professor one hour every day; the whole together, or six hours per week.

As it respects the time occupied by each student and the Professor, it is as follows:—

In the Junior year a Forensic being delivered every other week, and forty weeks (viz. 15 in the first term, 12 in the second, and 13 in the third) constituting the business portion of the whole year, it follows that in this exercise both the student and Professor are occupied (2 x 20) during the year 40 hours.
Each division being heard for one hour every day in the week for the first term, the time employed by each student is (6 x 15) 90 hours.
The time occupied in the Junior year in this branch by the student is…. 130 hours.
The Professor being occupied with each division one hour, that is, two hours with both, there is an occupation of (12 x 15) 180 hours.
To which add the time occupied by him in Forensics 40 hours.
The time occupied by the Professor of this branch with the Juniors is… 220 hours.
The Seniors, in respect of time occupied in the Forensic exercise, coincide with the Juniors; there being employed in it, both for the student and for the Professor, 40 hours.
In respect of time occupied by this Class in recitations in this branch, it is equal in the first term, as above stated, for the student, to (5 x 7½) for half the time of the term (15 weeks), or to 37½ hours.
And (4 x 7½) for the other half, or to 30 hours.
Constituting an occupation for the student, for the whole term, of 67½ hours.
And double that time for the Professor, he hearing each day both divisions, 135 hours.
In the second and third terms, this Class occupy the Professor six hours per week. In both terms there are 25 weeks; so that the time occupied by both student and Professor in these terms, in recitations, is (6 x 25) 150 hours.
Besides which the lectures on Civil Polity and the writings of Locke, delivered in the second term to this Class, occupy two hours per week
(2 x 12)
24 hours.
So that the time occupied by the student in the Senior year in recitations, lectures, and all exercises in this branch is, as above stated,
In Forensics 40 hours.
In Recitations, the 1st term 67 ½ hours.
In Recitations, 2d and 3d terms 150 hours
And in Lectures 24 hours.
The time occupied by the student 281½ hours
And by the Professor,
In Forensics with the Seniors, 40 hours.
In Recitations, 1st term 135 hours.
In Recitations, 2d and 3d terms 150 hours.
In Lectures with 2d and 3d terms 24 hours.
The time occupied by the Professor 349 hours.
And the general result of the time occupied in all the exercises in this branch in the whole college course is,
For the student in the Junior year 130 hours.
For the student in the Senior year 281 ½ hours.
Result of occupation of time, in recitations, lectures, and like exercises in this branch for each student 411 ½ hours
And for the Professor with the Juniors 220 hours.
And for the Professor with the Seniors 349 hours.
Result of occupation, as above, for the Professor 569 hours.

 

Source: Fourth Annual Report of the President of Harvard University to the Overseers on the State of the Institution,1828-9. Appendix, p. ii-v.

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Book prices

Hedge’s Logick ($0.70), Paley’s Philosophy ($2,00), Brown’s Philosophy (Hedge’s ed., $3.60), Stewart’s Philosophy ($2,40), Say’s Political Economy ($2.40).

Harvard University. First Annual Report of the President of Harvard University to the Overseers on the State of the University, 1825-6 .p. 51.

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Text Links

Dugald Stewart. Elements of the Philosophy of the Human Mind. Vol. One (New York, 1818); Vol. Two (New York, 1818).

William Paley. The Principles of Moral and Political Philosophy. 10th American Edition, Boston: 1821.

Thomas Brown. Lectures on the Philosophy of the Human Mind.  Abridged by Levi Hedge. Vol. One (Cambridge: 1827); Vol. Two (Cambridge: 1827).

Jean-Baptiste Say. A Treatise on Political Economy (trans. C. R. Prinsep). Third American Edition. Philadelphia: 1827.

William Rawle. A View of the Constitution of the United States of America. Philadelphia: 1825.

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One student’s recollection

Dr. Levi Hedge gave a series of profitable talks on International Law, in the second half hour of his recitations in Political Economy. Probably in the senior year (1828-29) as reported in the recollection by Samuel F. Smith (Harvard, A.B., 1829).

Source: The Harvard graduates’ magazine. vol. 2 (1893-94), December, 1893, p. 167.

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Appletons’ Cyclopædia of American Biography
Hedge, Levi

HEDGE, Levi, educator, b. in Hardwick, Mass., 19 April, 1766; d. in Cambridge, Mass., 3 Jan., 1844. He was graduated at Harvard in 1792, appointed a tutor in 1795, and in 1810 became professor of logic and metaphysics. In 1827 he exchanged that post for the Alford professorship of natural religion, moral philosophy, and civil polity, but was compelled by an attack of paralysis to resign in 1830. He published a “System of Logic” (Boston, 1818), which went through many editions, and was translated into German. He also prepared an abridgment of Brown’s “Mental Philosophy” (1827). — His son, Frederic Henry, educator, b. in Cambridge, Mass., 12 Dec., 1805; d. there, 21 Aug., 1890, was sent to school in Germany at the age of twelve, and remained five years. On his return he entered the junior class at Harvard, and was graduated in 1825. He then studied theology at the Cambridge divinity-school, was ordained in 1829, and settled over the Unitarian church in West Cambridge. In 1835 he took charge of a church in Bangor, Me.; in 1850, after spending a year in Europe, became pastor of the Westminster church in Providence, R. I., and in 1856 of the church in Brookline, Mass. In 1857 he was made professor of ecclesiastical history in the divinity-school at Harvard, still retaining his pastoral charge, but resigned the pastorship in 1872 in order to assume the professorship of the German language in the college. He was noted as a public lecturer as well as a pulpit orator. In 1853-‘4 he lectured on mediæval history before the Lowell institute. He became editor of the “Christian Examiner” in 1858. Besides essays on the different schools of philosophy, notably magazine articles on St. Augustine, Leibnitz, Schopenhauer, and Coleridge, and other contributions to periodicals in prose and poetry, he published “The Prose Writers of Germany,” containing extracts and biographical sketches (Philadelphia, 1848); “A Christian Liturgy for the Use of the Church” (Boston, 1856); “Reason in Religion” (Boston, 1865); and “The Primeval World of Hebrew Tradition” (1870). He also wrote hymns for the Unitarian church, and assisted in the compilation of a hymn-book (1853), and published numerous translations from the German poets.

Source: https://en.wikisource.org/wiki/Appletons%27_Cyclopædia_of_American_Biography/Hedge,_Levi

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Exit, Levi Hedge

“From circumstances connected with the state of his [Levi Hedge] health, his services during the last six months have been dispensed with. The department during that period was conducted satisfactorily by George S. Hillard, one of the Proctors of the University.”

Source: Sixth Annual Report of the President of Harvard University to the Overseers on the State of the Institution,1830-31. Appendix, p. ii.

Image Source:  Levi Hedge, LL.D. Elements of Logick. Boston, 1827.