The Harvard Crimson regularly published “Confidential Guides” to classes. The Crimson on-line archive is easy to search and I’ve selected some of the economics courses that were reviewed. I have added enrollment figures and staffing from the annual reports of the Presidents of Harvard. The coverage is spotty, but maybe I get lucky and find other course guides later.
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Economics 7b
Second semester, 1926-27
[Dr. Mason.—Programs of Social Reconstruction]
This course, originally intended as a small, intimate course on the socialist economists, when given for the first time last year, proved too popular to be labelled as small. Its intimate nature however was retained through Mr. Mason.
One of the youthful prodigies of the Economics department, with an Oxford education behind him, Mr. Mason conducts the course along lines that are wholly enjoyable. Informal lectures—you may interrupt any time you wish—are the backbone of the course, but there are also occasional sessions devoted to a general class room discussion, with the conservative students standing off their more radical colleagues and with Mr. Mason holding the scales.
Examinations are few and far between, and when given display a broadness not displeasing to the student who is taking the course as a study of history rather than as a study of economics.
Enrollment: Economics 7b
Second semester, 1926-27
Total 81: 4 Graduates, 44 Seniors, 23 Juniors, 6 Sophomores, 4 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1926-27, p. 75.
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Economics 4b
Second semester, 1928-29
[Professor A. S. Dewing and Dr. Opie. Economics of Corporations]
Professor Dewing has written a book on the Financial Policy of Corporations which is so formidable that it may scare off the average undergraduate who does not know that Professor Dewing’s lecture delivery is one of the least puzzling in the College. Most undergraduates on the first day of the course look wildly around for the nearest exit, convinced that they have wandered into a philosophy lecture. Bailing his trap with a summary of the corporation from Rome to the present day. Professor Dewing has the class following him, at a distance of several sea leagues, by the third lecture. Then he hops briskly to the present time, and proceeds to probe into the motives of the business man. The wheels of the large corporation, the relative advantages of the various forms of business enterprise, the actions of the stock market and the types of securities, in rapid-fire succession. Even future professors of Sanskrit, now undergraduates, would do well to take this course in order to learn where their breakfast bacon comes from, and why Bacon, Preferred sells around 30 these days. Dr. Opie will alternate with Professor Dewing, and what Professor Dewing does for the corporation’s past, Dr. Opie may be expected to do for its future, showing how modern trends to consolidation have not yet run their course.
Enrollment: Economics 4b
Second semester, 1928-29
Total 187: 12 Graduates, 56 Seniors, 104 Juniors, 12 Sophomores, 3 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1928-29, p. 72.
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Economics 6a
Second semester, 1928-29
[Dr. C. E. Persons. Trade Unionism and Allied Problems]
For those who are interested in the ever present problems arising from the conflict between capital and labor, Economics 6a presents an admirable summary of the most vital issues. This course, given by Professor Ripley for many years, was taken over by Professor Persons of Boston University last year. The latter instructor, however, was called to Washington this fall to take up a government position as an expert on the question of unemployment, and to date no successor has been announced for the course.
Regardless of whom the instructor may be, the subject matter of the course dealing with strikes, governmental control of labor policies, arbitration, unemployment, and other problems closely associated with the labor question should prove valuable to all who have any interest in current problems. For those who think courses in Economics too theoretical, Economics 6a is an excellent corrective, for throughout the half year, one is constantly finding instances in the daily newspapers with which the week’s work is directly concerned. For those concentrating in labor problems, the course is indispensable, since it takes in a wide field which would take many hours to cover in tutorial conferences.
Enrollment: Economics 6a
Second semester, 1928-29
Total 50: 1 Graduates, 22 Seniors, 21 Juniors, 3 Sophomores, 3 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1928-29, p. 72.
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Economics 7b
Second semester, 1928-29
[Asst. Professor Mason. Programs of Social Reconstruction]
This course on the various programs for social reconstruction limits itself to fairly modern times. No undergraduate alive, whether he was born a little Lib-e-ral or a little Conserve-a-tive, can afford to be ignorant of the social ferment which goes on in the world around him, and threatens to involve him as employer or employee, taxpayer or taxpayer in our time. This course will not introduce him to the manifestations of these doctrines now current in Harbin or in Gastonia, but it will enable him to learn something of the ideas held by anarchists, social-[incomplete]
Enrollment: Economics 7b
Second semester, 1928-29
Total 77: 6 Graduates, 38 Seniors, 27 Juniors, 1 Freshman, 5 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1928-29, p. 72.
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Economics A
1929-30
[Prof. Burbank and Asst. Prof. Chamberlin, & Assistants. Principles of Economics]
The problem of how to introduce students to the subject of economics is admirably met in ec A. Of all the large survey courses in the undergraduate curriculum, ec A is perhaps the best organized and the most ably conducted.
Facts as such play a very small part in this course; it is much more a systematic method of thinking that the student must master; reasoning power, not memory, is necessary in order to understand and succeed in ec A. By this one should not understand that no work is required, that all one needs to do to get a good grade, is to go to quizzes once a month and exercise his reasoning power. Not at all; reasoning power and concentration are quite as necessary in studying the principles of economics as they are in answering questions on examinations.
The one really serious criticism of the course, in this reviewer’s opinion, lies in its failure to impress upon the student that Professor Taussig’s book which serves as the text book and foundation of all the work done, is not an economic bible. The general opinion of most students after taking ec A is that the last word on questions economic has been spoken, that the final truth is known and that Professor Taussig is the interpreter thereof. If they continue with the study of economics and learn that Taussig’s “Principles” is only a comparatively minor product of a particular school of though, they will probably be more than a little surprised and their view of economics as a study will undergo considerable revision.
Enrollment: Economics A
1929-30
Total 498: 2 Graduates, 41 Seniors, 123 Juniors, 270 Sophomores, 24 Freshmen, 38 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1929-30, p. 77.
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Economics 3
1929-30
[Professor Williams. Money, Banking, and Commercial Crises]
This is a course which will be taken sooner or later by practically all men concentrating in economics. Money, banking, and financial crises are all subjects which despite their complexity necessarily demand some consideration from all who aspire to have anything approaching a working knowledge of economics.
It may be gathered from what has been said above that (1) Economics 3 is a large course with students of all degrees of ability enrolled in it, and (2) that it deals with subjects which are far from satisfactorily solved and which are difficult even for advanced students of economics. Corrolary: Economics 3 is conducted in a very slow and deliberate fashion; it tends toward oversimplification; and the lectures remind one of one’s preparatory school days in their careful topical organization and their constant repetition.
Professor Williams, however, has chosen the only practicable method of getting the subjects over and is to be congratulated on the general success of his system.
A parting word to embryonic bankers might not be out of place here. Economics 3 deals with theory almost exclusively and will be of very little assistance in getting a job as a clerk next summer.
Enrollment: Economics 3
1929-30
Total 176: 2 Graduates, 67 Seniors, 88 Juniors, 12 Sophomores, 7 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1929-30, p. 77.
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Economics A
1932-33
[Professor Burbank, Asst. Prof. Chamberlin, Frickey, and Ham & Assistants, Principles of Economics]
Economics A is the whole field of Economics in microcosm; it is a study of the economic problem. So much land, labor, and instruments are available. Men must eat. But they want to do more than that. How can they use the available tools to produce the largest amount of what they most want? The problem requires much thought and discussion, and there are many different solutions. Capitalism, Socialism, Communism are but attempts to solve it.
The facts treated in Economics A are closely related to the business world. But while the business man is mainly concerned with particular costs, selling methods, and profits, the economist tries to put all the general facts in the proper sequence and order of importance. He talks about prices in general, the national income, and the distribution of that income among individuals. The student gains more than the ability to talk glibly about tariffs, money standards, and the business cycle. In seeking the essence of economic life he has developed a method of thought.
The textbook used in the course, Taussig’s Principles, is in many places out of date and seems unduly simple in the light of conflicting theories. Wherever possible, the Department is trying to supplement it with other reading. The course is conducted wholly in sections, probably the best method in a subject of this kind. Obviously everything depends on the instructors, and for the most part they are among the best in the University. Their task is made difficult by the necessity of trying to satisfy both those men who are content with the broad outlines of the work and those who desire a more detailed discussion. It has been suggested that more honor sections be formed; and that they be organized after November hours. If this were done and if more Freshmen were admitted to the course, men concentrating in Economics could get an early and thorough start in the subject, other men would be better satisfied, and tutors might start their work more effectively in the sophomore year.
In general it may be said that Economics. A is not a difficult course for the student endowed with ordinary intelligence. The value of the subject is undisputed. As an instructor in another course remarked during the Hoover administration, “The great trouble with Congress is that it is composed of men who have never taken History 1 or Economics A.”
Enrollment: Economics A
1932-33
Total 390: 18 Seniors, 109 Juniors, 224 Sophomores, 23 Freshmen, 16 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1932-33, p. 65.
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Economics 3
1932-33
[Prof. Williams and Schumpeter, and Dr. Currie. Money, Banking and Commercial Crises]
In Economics 3 the instructors are faced with the uniquely difficult task of explaining the intricacies of “Money and Banking” with not a few words on foreign trade. The course requires a thesis although certain Seniors are exempt.
Professor Williams is undoubtedly not only an authority of world reputation and an excellent lecturer, but a sympathetic teacher. There is, however, the chance that he may be called away next year. Although his absence would be a serious blow to the course, indication is that the course would still be in capable hands.
It is fortunate that, in such a difficult course, the sections conducted by Dr. Currie should be such as to clear up the problems of the individual student, add to the knowledge of the group as a whole, and attain timeliness and interest throughout.
Enrollment: Economics 3
1932-33
Total 151: 32 Seniors, 103 Juniors, 8 Sophomores, 1 Freshman, 7 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1932-33, p. 65.
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Economics 4
1932-33
[Assoc. Prof. Mason, Asst. Prof. Chamberlin, Dr. Wallace. Monopolistic Industries and their Regulation]
Economics 4, run on the plan of two lectures and one section a week, deals with railroads, corporations, and government control of industry. The course is conducted by Associate Professor E. S. Mason, Assistant Professor E. H. Chamberlin, and Mr. D. H. Wallace.
The subject matter of the course has a contemporary and living significance that has as much primary interest as it is possible to find in the Economics Department. This timeliness has been intelligently capitalized with out sacrificing scholarship.
The reading, while it seems extensive, has great variety and has been excellently chosen. The lectures are well coordinated with it and at the same time avoid repetition. The lectures themselves vary, but on the whole, are fair enough. They can be expected to show considerable improvement, as this is the first year they have been delivered by the men in charge. One gets the impression that Chamberlin and Mason are more interesting than some of their presentations would indicate.
Enrollment: Economics 4
1932-33
Total 155: 5 Graduates, 30 Seniors, 104 Juniors, 14 Sophomores, 2 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1932-33, p. 65.
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Economics 50 [sic, Economics 38]
1932-33
[Prof. Williams and Schumpeter. Principles of Money and of Banking]
Very much the same general remarks apply to Economics 50 as to Economics 3, also reviewed in this Confidential Guide. The course is more advanced and goes considerably deeper into the fundamental aspects of money and business cycles as well as international trade. Professor Williams is always stimulating and clear-headed, while in this course he has opportunities for exercising his extraordinary critical ability to a far greater degree than in the elementary course.
Such controversial subjects as the monetary and cycle theories of Hawtrey, Keynes, Hayes and Foster and Catchings are treated at length; while much light is also thrown on the mechanism and control of credit, and international trade in general. It would be rash to go further into the subject matter of the course for monetary theory and practice are in such a state of rapid development that next year may find a new set of problems which will call for new treatment. It can, however, be confidently concluded that if such changes do occur Professor Williams, to a greater degree than most economists, will not be restrained by dogma and tradition from treating the new conditions in a spirit both open-minded and critical [incomplete]
Enrollment: Economics 38
1932-33
Total 61: 36 Graduates, 16 Seniors, 1 Junior, 8 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1932-33, p. 66.
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Economics A
1934-35
[Prof. Burbank, Asst. Profs. Chamberlin, Frickey, and Ham, and Assistants. Principles of Economics]
Since the purposes of Economics A is to teach the beginner the economic way of thinking, economic questions of the day are considered in a purely subsidiary light. It is the general outlines of economic theory, rather than the details of its structure, which are presented the student. Although he may develop during the year the desired line of attack, he is apt to feel that he has learned less about economics than he wished.
That Economics A is an introductory course, and a difficult one to administer, should be kept in mind. Nevertheless, it would seem that the economic way of thinking might be brought home more vividly by applying it directly to the questions facing the country today.
Long experiment has determined that the course shall consist of three section meetings a week. Since it is the section man who guides the discussions, a great deal depends on his calibre. The reading, though rather difficult for a beginner, is of reasonable length and easily handled.
Enrollment: Economics A
1934-35
Total 498: 38 Seniors, 174 Juniors, 262 Sophomores, 21 Freshmen, 3 Other.
Source: Harvard University. Reports of the President and the Treasurer of Harvard College, 1934-35, p. 80.
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Economics [as Field of Concentration]
Economics is the center around which our present civilization revolves; some even claim that all human history has been determined fundamentally by economic forces. Almost every occupation fits into the economic structure, and for certain ones like government and business, a knowledge of the economic structure is essential. The field of Economics increased 20 per cent from 1935-36 to 1937-38 and is now the largest in College with 477 concentrators.
From the nature and aims of the field it is obvious that it might better be entitled Political Economy, for every course tends to emphasize the fact that economics cannot be separated from politics. Through full courses on various special subjects like Public Finance and Utilities a broad survey of the subject is attempted, and although each course is designed to include the major problems existent today, it is of course impossible for them to provide the answers. Thus, the field does not intend to offer practical value–in the narrow vocational sense, since it feels that practical training should be obtained after College in places like the Business School. Instead, it offers a thorough theoretical background of economics useful in any business career.
A student who does not want to concentrate in Economics but desires an auxiliary foothold in the subject would do best to combine the theory of Economics A [Principles of Economics] with the more specific material in Economics 41, on Money and Banking.
Concentrators in Economics will have to pass in the spring of their Junior year a general examination in the department of Economics, and in the spring of their Senior year an examination correlating Economics with either History or Government (this correlating exam may be abolished by 1942), and a third one on the student’s special field, which is chosen from a list of eleven, including economic theory, economic history, money and banking, industry, public utilities, public finance, labor problems, international economics, policies and agriculture.
Courses in allied fields, including Philosophy, Mathematics, History, Government, and Sociology, are suggested by the department for each of the special fields. In addition, Geography 1 is recommended in connection with international policies or agriculture.
According to members, there has not been enough organization of tutorial work. In preparing men for their Junior divisionals the tutors have each gone off on independent tacks, often haphazardly. A list of books drawn up by the Board of Tutors for each special field, large enough to allow the student a reasonable amount of choice and yet limited enough to assure both student and tutor that he is working in some prescribed direction, would remedy this situation. The tutors themselves are good, on the whole, and willing to give time to those students whose interest and ability warrant it.
Economics A is required for admittance into every advanced course, although there are a few which allow it to be taken at the same time. It is by no means too difficult for Freshmen, may be taken by them with the consent of the instructor, and concentrators urge all Freshmen who think they may go into the field to take this course during their first year. This will enable them to begin taking advanced courses their Sophomore year, as History and Government concentrators do, and thereby allow a much wider range of study during their last two years, both in courses and in tutorial. History 1 and Government 1 are both required for concentration in Economics. The former should be taken Freshman year.
Of the two basic courses in theory Economics 1 [Economic Theory] is much better than the half year course 2a [Economic Theory (shorter course)], but it is open only to honors candidates. Professor Chamberlin lectures excellently in course 1, but there is still need for a half course such as 2a. Nearly all the advanced courses will be found worth while, but they cannot all be taken and must be chosen with the interests and the special field of the concentrator in mind. Course 21a [Introduction to Economic Statistics]was blamed for wasting the effort of Professor Frickey, for students claimed the material could be covered in less than a mouth. It is necessary for graduate work, and cannot be expected to be very interesting. Mason’s Economics 11a and b, on the history and economics of Socialism, while they are not well organized, represent–especially the history–a field which has been practically ignored in the social sciences, although it is listed as a special topic for the correlation exam–the History of Political and Economic Thought. A course on the History of Economic Theory is notably lacking, and the History of Socialism could well be matched with a History of Capitalism, Sociology 3 comes nearest to filling this gap now, but it leans less towards economics than towards social progress. Economics 36, on Economic History [1750-1914], is concerned with the material development of industry, railroads, etc. Hansen was liked in course 45a on Business Cycles, and the material covered in 43a and b [International Economic Relations] is valuable.
Expanding its labor instruction, the department will make Economics 81, on Labor Problems, a full course, to be given by Professor Slichter, Dr. Reynolds, and Mr. Pollard. Social security, as well as the economics of labor, will be taught.
