Categories
Exam Questions Harvard

Harvard. Public Administration and Finance, Correlation Exam, 1939

Today’s posting is a transcription of the “correlation examination” questions for public administration and finance given at Harvard in May 1939.

Concentrators in Economics will have to pass in the spring their Junior year a general examination on 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.
[SourceHarvard Crimson, May 31, 1938]

A printed copy of questions for twelve A.B. examinations in economics at Harvard for the academic year 1938-39 can be found in the Lloyd A. Metzler papers at Duke’s Economists’ Papers Project. 

Economic Theory,
Economic History Since 1750,
Money and Finance,
Market Organization and Control,
Labor Economics and Social Reform.

  • Six Correlation Examinations given to Honors Candidates.

Economic History of Western Europe since 1750,
American Economic History,
History of Political and Economic Thought,
Public Administration and Finance,
Government Regulation of Industry,
Mathematical Economic Theory.

______________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

 

 

______________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

CORRELATION EXAMINATION
Public Administration and Finance

(Three hours)

Answer either FOUR or FIVE questions, including TWO from each group. If you answer FOUR questions, write about an hour on ONE of them and mark your answer “Essay.” This question will be given double weight.

 

A
Use a separate blue book for the questions in this part

  1. “A marked tendency of modern legislation is to deal with regulatory problems by setting forth less frequently in the legislation itself the particular rules that shall control. More commonly the administrative agency is given power to prescribe governing regulations in certain spheres of activity.”
  2. “One factor that has received little attention is the need for administrative agencies to give adequate and effective publicity to their achievements. In the field of policy determination, effective publicizing of the policy and of the reasons that underlie it is essential.”
  3. “Although the U. S. Civil Service Commission has accomplished much in the way of reducing the patronage evil and in introducing competition as a means of recognizing merit, the full implications of the merit system have not been realized.”
  4. “The ultimate test of an administrative agency regulating business is the policy that it formulates; not the fairness as between the parties of the disposition of a controversy on a record of their own making.”
  5. “The development of American administrative law involves a potential conflict between the legislature and the judiciary. In humble realization by each of their respective functions lies in large measure the trembling hope for the maintenance of our democracy.”
  6. “A serious charge against the grant-in-aid from the point of view of concern for our dual system, is that it breaks down state initiative and devitalizes state policies. The exact contrary appears to be the case in actual practice.”
  7. “An old, established rule of statecraft is that ad hoc agencies should be kept at a minimum. Every agency that wants to be free from the integrated structure of the government and the control of central staff agencies must be able to make out a case for itself, showing that the advantages considerably outweigh the disadvantages.”
  8. “The concept of efficiency can be made the basis of a comprehensive and flexible framework for the evaluation and appraisal of government. It is a powerful tool for analyzing relationships of legislature and administrator.”
  9. “In the lack of cooperation between the President and Congress, is to be found the most serious weakness in the national fiscal system.” Discuss with reference to the Bureau of the Budget and the Treasury Department as agencies for financial planning, accounting and control.

 

B
Use a separate blue book for the questions in this part

  1. “You cannot run a war without inflation, so the government must finance it by borrowing or issuing paper money instead of by increasing taxation.”
  2. Explain the purposes and the principal activities of the Farm Credit Administration, or the Reconstruction Finance Corporation.
  3. “People who talk about the ‘burden’ of the public debt fail to see that it is simply a matter of taxing Peter to pay Paul, or sometimes Peter.”
  4. Discuss the more important financial, administrative, and political problems which would be involved in a government program for extensive slum clearance.
  5. “Few people seem to realize that the Tennessee Valley Authority is socialism, and socialism of the worst sort characterized by fairyland economics, academic ideology, and absentee control.”
  6. “The chief result of the pernicious system of federal grants to states is that the people of those states with the smartest politicians get part of the bills for their own schools and highways paid by people in other states.”
  7. Discuss the possibilities of achieving a reduction in the costs of federal government or state government without diminishing the output of government services.
  8. “Our tax system needs to be revised in such ways as to discourage saving and encourage investment.”
  9. “The unplanned character of public spending by state and local governments must bear a considerable part of the blame for fluctuations in employment and the national income.”

 

May 12, 1939.

 

Source: Duke University. David M. Rubenstein Rare Book & Manuscript Library. Lloyd Appleton Metzler Papers. Box 7. [Harvard University], Division of History, Government and Economics. Division Examinations for the Degree of A.B., 1938-39.

 

Categories
Economists Fields Harvard

Harvard. Thirteen Ph.D. Examinees, 1915-16

For thirteen Harvard economics Ph.D. candidates this posting provides information about their respective academic backgrounds, the six subjects of their general examinations along with the names of the examiners, the subject of their special subject, thesis subject and advisor(s) (where available). Of particular note are the records for Harvard historian of early economic thought, Arthur Eli Monroe, and the soon to become distinguished Chicago (later Princeton) economist, Jacob Viner.

________________________________________

 

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
EXAMINATIONS FOR THE DEGREE OF PH.D.
1915-16

Notice of hour and place will be sent out three days in advance of each examination.
The hour will ordinarily be 4 p.m.

 

Arthur Eli Monroe.

General Examination in Economics, Wednesday, October 13, 1915.
Committee: Professors Bullock (chairman), Taussig, Gay, Day, and Holcombe.
Academic History: Harvard College, 1904-08; Harvard Graduate School, 1913-February, 1916. A.B., Harvard, 1908; A. M., ibid., 1914. Teacher of Latin and German, Kent School, Connecticut, 1909-13; Assistant in Economics, Harvard, 1914-February, 1916; Tutor in the Division of History, Government, and Economics, 1915-February, 1916; Instructor I Economics, Williams College, February, 1916-.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Public Finance. 4. Statistical Method and its Application. 5. History of Political Theory. 6. Topic in the History of Economic Thought.
Special Subject: Some topic in the History of American Economic Thought.

 

Merton Kirk Cameron.

General Examination in Economics, Wednesday, November 17, 1915.
Committee: Professors Gay (chairman), Ripley, Taussig, Anderson, and Day.
Academic History: Princeton University, 1904-08; Harvard Graduate School, 1913-. A.B., Princeton, 1908; A. M., Harvard, 1914. Head of Department of History, Lanier High School, Montgomery, Alabama, 1911-13; Assistant in Economics, Harvard, 1915-.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Money, Banking, and Crises. 4. Transportation. 5. Economics of Corporations. 6. American History.
Special Subject: Economic History of the United States.
Thesis Subject: “The History of the Tobacco Growing Industry in the United States.” (With Professor E. F. Gay.)

 

Herbert Knight Dennis

General Examination in Economics, Tuesday, February 29, 1916.
Committee: Professors Bullock (chairman), Perry, Tozzer, Ford, Foerster, and Anderson.
Academic History: Allegheny College, 1907-08; Brown University, 1910-12; Princeton University, 1912-14; Harvard Graduate School, 1914-. Ph.B., Brown, 1912; A. M., Princeton, 1914; A.M. Harvard, 1915.
General Subjects: 1. Economic Theory and its History. 2. Ethical Theory and its History. 3. Poor Relief. 4. Social Reforms. 5. Sociology. 6. Anthropology.
Special Subject: Social Psychology.
Thesis Subject: “The French Canadians—A Study in Race Psychology.” (With Professor Foerster.)

 

James Washington Bell.

General Examination in Economics, Wednesday, May 3, 1916.
Committee: Professors Bullock (chairman), Ripley, Munro, Anderson, and Copeland.
Academic History: University of Colorado, 1908-14; Harvard Graduate School, 1914-. A.B., Colorado, 1912; A.M., ibid., 1913. Assistant in Economics, University of Colorado, 1912-14.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Public Finance. 4. Labor Problems. 5. Sociology. 6. Municipal Government.
Special Subject: Public Finance.
Thesis Subject: “Taxation of Railroads in New England.” (With Professor Bullock.)

 

William Burke Belknap.

General Examination in Economics, Thursday, May 4, 1916.
Committee: Professors Bullock (chairman), Gay, Ripley, Anderson, and Dr. Morison.
Academic History: Yale College, 1904-08; University of Chicago, 1913-14 (two terms); Haverad Graduate School, 1914-. A.B., Yale, 1908; A.M. Harvard, 1915.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Labor Problems. 4. Money and Banking. 5. American History since 1789. 6. Public Finance.
Special Subject: Public Finance.
Thesis Subject: “History of the State Finances of Kentucky.” (With Professor Bullock.)

 

Henry Bass Hall.

General Examination in Economics, Friday, May 5, 1916.
Committee: Professors Gay (chairman), Taussig, Turner, Day, and Anderson.
Academic History: Harvard College, 1904-05; Amherst College, 1906-07; Massachusetts Agricultural College, 1911-12; Harvard Graduate School, 1912-. S.B., Massachusetts Agricultural College, 1912.
General Subjects: 1. Economic Theory and its History. 2. Money and Banking. 3. International Trade. 4. Economic History since 1750. 5. Agricultural Economics. 6. American History since 1789.
Special Subject: Agricultural Economics.
Thesis Subject: “Economic History of Massachusetts Agriculture.” (With Professors Carver and Gay.)

 

Charles Cloyd Creekpaum.

General Examination in Economics, Monday, May 8, 1916.
Committee: Professors Bullock (chairman), Day, Anderson, Copeland, and Holcombe.
Academic History: University of Nebraska, 1908-12; Harvard Graduate School, 1914-. A. B., Nebraska, 1912. Principal of High School, Alvo, Nebraska, 1912-13; Principal of High School, McCool Junction, Nebraska, 1913-14.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology. 4. Statistics. 5. History of Political Theory. 6. Public Finance.
Special Subject: Public Finance.
Thesis Subject: “The Financial Results of Public Ownership of Railways.” (With Professor Bullock.)

 

Mark Anson Smith.

General Examination in Economics, Thursday, May 11, 1916.
Committee: Professors Bullock (chairman), Hart, Gay, Ripley, and Dr. Davis.
Academic History: Dartmouth College, 1906-10; University of Wisconsin, 1911-14; Harvard Graduate School, 1914-. A.B., Dartmouth, 1910; A.M., Wisconsin, 1913.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Money and Banking. 4. Economics of Corporations. 5. Public Finance. 6. American Government and Constitutional Law.
Special Subject: Public Finance.

 

John Emmett Kirshman.

General Examination in Economics, Friday, May 12, 1916.
Committee: Professors Bullock (chairman), Ripley, Gay, Munro, and Foerster.
Academic History: Central Wesleyan College, 1901-04; Syracuse University, 1907-08; University of Wisconsin, 1908-09; University of Illinois, 1914-15; Harvard Graduate School, 1915-. Ph.B., Central Wesleyan, 1904; Ph.M. Syracuse, 1908. Assistant Professor of History, North Dakota Agricultural College, 1909-14; Teaching Fellow in Economics, University of Illinois, 1914-15.
General Subjects: 1. Economic Theory and its History. 2. Public Finance. 3. Economic History since 1750. 4. Comparative Modern Government. 5. Economics of Corporations. 6. Socialism and Social Reform.
Special Subject: Public Finance
Thesis Subject: “Taxation of Banking Institutions.” (With Professor Bullock)

 

Zenas Clark Dickinson.

General Examination in Economics, Monday, May 15, 1916.
Committee: Professors Taussig (chairman), Gay, Yerkes, Day, and Dr. Burbank
Academic History: University of Nebraska, 1910-14; Harvard Graduate School, 1914-. A.B., Nebraska, 1914.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Statistical Method and its Application. 4. Public Finance. 5. Psychology. 6. Suitable Field in Economic Theory and its History, with special reference to Psychology.
Special Subject: Suitable Field in Economic Theory.

 

Arthur Harrison Cole.

Special Examination in Economics, Thursday, May 18, 1916.
Committee:
General Examination passed January 7, 1915.
Academic History: Bowdoin College, 1907-11; Harvard Graduate School, 1911-. A.B., Bowdoin, 1911; A.M., Harvard, 1913. Assistant in Economics, Harvard, 1913
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Money, Banking, and Commercial Crises. 4. Public Finance and Financial History. 5. International Trade and Tariff History. 6. Political and Constitutional History of the United States.
Special Subject: Economic History of the United States.
Committee: Professors Gay (chairman), Taussig, Turner, and Sprague.
Thesis Subject
: “History of the Wool Manufacturing Industry in the United States, to the year 1830.” (With Professors Gay and Taussig.)
Committee on Thesis: Professors Gay, Taussig, and Sprague.

 

Jacob Viner

General Examination in Economics, Friday, May 19, 1916.
Committee: Professors Taussig (chairman), Bullock, R. B. Perry, Anderson, and Gras.
Academic History: McGill University, Montreal, 1911-14; Harvard Graduate School, 1914-. A.B., McGill, 1914; A.M., Harvard, 1915.
General Subjects: 1. Economic Theory and its History. 2. International Trade. 3. Public Finance. 4. Sociology. 5. Economic History since 1750. 6. Theory of Value (Philosophy).
Special Subject: International Trade.
Thesis Subject: “International Balance of Payments” (With Professor Taussig)

 

Percy Gamble Kammerer.

Special Examination in Economics, Monday, May 22, 1916.
General Examination passed May 14, 1914.
Academic History: Harvard College, 1904-06, 1910-12; Harvard Graduate School, 1912-. A. B., 1908 (1913).
General Subjects: : 1. Economic Theory and its History. 2. Ethical Theory. 3. Poor Relief. 4. Social Reforms. 5. Sociology. 6. The Labor Question.
Special Subject: The Family considered Historically and in its Relation to Social Institutions.
Committee: Professors Foerster (chairman), Ripley, Feguson, Tozzer, Ford, and Anderson.
Thesis Subject: “The Unmarried Mother: a Study of Case Histories.” (With Professor Foerster.)
Committee on Thesis: Professors Foerster, Taussig, and Dearborn.

 

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1915-1916”.

Image Source: Library of Congress Prints and Photographs Division, Washington, D.C. Digital ID:  cph 3c14486

Categories
Columbia Economists Harvard

Harvard. Invitations for guest lectures by Schumpeter and Rathgen, 1913

This exchange of letters between Frank Taussig and President Lowell of Harvard involves two pieces of business. The first is Taussig’s request for approval to use department lecture funds to invite Joseph Schumpeter and Karl Rathgen, who were both visiting Columbia University, to give lectures at Harvard. The second piece of business concerns a recommendation of two men to be considered for the presidency of the University of Washington, one of whom (L. C. Marshall who was the Dean of the University of Chicago Business School) the other, James Rowland Angell who would go on to become President of Yale and who also happened to be the father of the Columbia University economist James Waterhouse Angell.

__________________________________

 

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

CAMBRIDGE, MASSACHUSETTS
October 22, 1913.

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E.F. Gay
W. M. Cole
O. M. W. Sprague
Q. E. Rappard
E. E. Day
B. M. Anderson, Jr.
H. L. Gray
Dear Lawrence:

Two Germans are in this country, both at the present moment lecturing at Columbia, to whom we might appropriately show a little attention. One is J. Schumpeter, an Austrian with whom I have had correspondence, and a very well-known and highly respected scholar; the other is K. Rathgen of Hamburg, also well-known in the profession. Our friends at Columbia write that these men would be glad to look at this institution, and we are more than willing to show them a little civility. Would you authorize us to ask each of them to give a lecture, possibly more than one, the fee to be charged to the fund for lectures on Political Economy? Schumpeter speaks excellent English, and could certainly give an acceptable lecture. Rathgen might possibly have to speak in German, in which case we should ask him simply to talk to our Seminary.

You remember our talk about the presidency of the University of Washington. I enclose a letter from L. C. Marshall of Chicago about young Angell, the psychologist, who deserves to be considered among the possibilities. I enclose also a memorandum of my own about Marshall himself, who seems to me at least the equal of Angell. Make such use of these papers as you can, either for this opening or for others that may appear in the future. When inquiring of Marshall about Angell, I gave no intimation of the reason for asking him.

Sincerely yours,
[signed]
F. W. Taussig

President A. Lawrence Lowell.

 

__________________________________

October 23, 1913.

Dear Professor Taussig:—

We should certainly be very glad to have either Schumpeter or Rathgen, or both, speak to the students in economics, at the expense of the fund for lectures in political economy. I do not know whether you want an appointment by the Corporation for this purpose, or merely an invitation by the department.

Thank you for the suggestions of presidents of Washington University. I am transmitting them.

Very truly yours,
[stamped]
A. Lawrence Lowell

Professor F. W. Taussig
2 Scott Street,
Cambridge, Mass.

__________________________________

 

Source: Harvard University Archives. President Lowell’s Papers, 1909-1914 (UAI.5.160), Box 15, Folder 413 “1909-14”.

Image Source: Karl Rathgen: Fotosammlung des Geographischen Institutes der Humboldt-Universität Berlin.    Schumpeter: Ulrich Hedtke, Joseph Alois Schumpeter. Archive.

 

 

Categories
Courses Harvard

Harvard. Harvard Crimson Economics Course Guides, 1927-1938

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.

___________________________________________

1926-27
 Harvard Crimson, December 6, 1927.

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.

___________________________________________

1928-29
Harvard Crimson, December 11, 1929.

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.

**********************

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.

**********************

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.

___________________________________________

1929-30
Harvard Crimson, September 22, 1930.

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.

**********************

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.

___________________________________________

1932-33
Harvard Crimson, April 18, 1933.

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.

**********************

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.

**********************

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.

**********************

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.

___________________________________________

1934-35
Harvard Crimson, April 23, 1934.

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.

___________________________________________

1937-38
Harvard Crimson, May 31, 1938

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.

 

 

 

Categories
Economists Harvard

Harvard. Marx/Engels/Lenin Readings. Emile Burns (ed.), 1935

 

 

In 1935 the British Communist, Emile Burns, published A Handbook of Marxism that included just over one thousand pages of excerpts from key works by Marx, Engels, Lenin and (yes) Stalin. Reading assignments in the Burns volume can be found in four of the course syllabi from the Harvard economics department thus far included among the transcribed artifacts in Economics in the Rear-View Mirror. In the table below I note which chapters were assigned for the four courses.

That table is followed by the Table of Contents of the Burns Handbook along with links to available versions (not always the same translation however) of some of the works from which excerpts have been included. There is still work to do in putting links to most of the Lenin pieces and all those of Stalin, but at least all the Marx-Engels chapters have links to the complete works for now.

Chapter XXI consists of excerpts from chapters from the three volumes of Capital. I find it handy to have this short-list of chapters chosen by a practicing Communist of the 1930s. The Handbook is about 50:50  Marx & Engels (ca 500 pages) vs. Lenin & Stalin.

 Cf. the 1918 “Outline for the Study of Marxism” by Karl Dannenberg.

_______________________________________

A HANDBOOK OF MARXISM

being
a collection of extracts from the writings of
Marx, Engels and the greatest of their followers

selected
so as to give the reader
the most comprehensive account of Marxism
possible within the limits of a single volume:

the passages
being chosen by Emile Burns, who has added
in each case a bibliographical note, & an
explanation of the circumstances in which the
work was written & its special significance in
the development of Marxism : as well as the
necessary glossaries and index.

LONDON
VICTOR GOLLANCZ LTC
1934

_______________________________________

Harvard Economics Courses with Assigned Readings
in A Handbook of Marxism

Chapter

Mason and Sweezy 1938 Sweezy 1940 Taylor 1948 Taylor 1950

I.

II.

III.

IV.

V.

VI.

VII.
VIII.
IX.
X.
XI.
XII.

XIII.

XIV.

XV.

XVI.

XVII.

XVIII.

XIX.

XX.

XXI.

XXII.

XXIII.

XXIV.

XXV.

XXVI.

XXVII.

XXVIII.

XXIX.

XXX.

 

Table of Contents
Emile Burns, A Handbook of Marxism (1935)

Introduction
Chap.
I. K. Marx and F. Engels. The Communist Manifesto
II. K. Marx. Address to the Communist League (1850)
III. F. Engels. Introduction to the Class Struggles in France (1848-50)
IV. K. Marx. The Class Struggles in France (1848-50)
V. K. Marx. The Eighteenth Brumaire of Louis Bonaparte
VI. F. Engels. Germany: Revolution and Counter-Revolution
VII. K. Marx. The Civil War in France
VIII. F. Engels. Introduction to the Civil War in France
IX. K. Marx. The Crimean War [New York Tribune, 24 October 1854]
X. K. Marx. The British Rule in India [New York Tribune, June 25, 1853, p. 6];  The Future Results of British Rule in India [New York Tribune, August 8, 1853, p. 5.]
XI. K. Marx. Relations Between the Irish and English Working Classes
[5. The Question of the General Council’s Resolution on the Irish Amnesty]
XII.

F. Engels. The British Labour Movement

[A Fair Day’s Wages for a Fair Day’s WorkThe French Commercial Treaty Social Classes—Necessary and Superfluous]

XIII.

K. Marx and F. Engels. German Ideology

XIV.

F. Engels. Ludwig Feuerbach

XV.

K. Marx. Theses on Feuerbach

XVI.

F. Engels. Herr Eugen Dühring’s Revolution in Science (Anti-Dühring)

XVII.

F. Engels. The Origin of the Family, Private Property and the State.

XVIII.

F. Engels. The Housing Question [Parts I and II]

XIX.

K. Marx. The Poverty of Philosophy

[Chapter 2: The Metaphysics of Political Economy. Section 1: The Method]

XX.

K. Marx. A Contribution to “the Critique of Political Economy”

XXI.

K. Marx. Capital

(164 pages of excerpts from the following chapters of the Charles H. Kerr & Co., Chicago edition of the three volumes of English translation. Note the recommended order for volume I)

Vol. I, Ch. XXVI. The Secret of Primitive Accumulation;
Vol. I, Ch. XXVII. Expropriation of the Agricultural Population from the Land;
Vol. I, Ch. XXIX. Genesis of the Capitalist Farmer;
Vol. I, Ch. XXX. Reaction of the Agricultural Revolution on Industry: Creation of the Home Market for Industrial Capital;
Vol. I, Ch. XXXI. Genesis of the Industrial Capitalist;
Vol. I, Ch. XXXII. Historical Tendency of Capitalist Accumulation;
Vol. I, Ch. I. Commodities;
Vol. I, Ch. III. Money, or the Circulation of Commodities;
Vol. I, Ch. IV. The General Formula for Capital;
Vol. I, Ch. V. Contradictions in the General Formula of Capital;
Vol. I, Ch. VI. The Buying and Selling of Labour-Power;
Vol. I, Ch. VII. The Labour Process and the Process of Producing Surplus Value;
Vol. I, Ch. VIII. Constant Capital and Variable Capital;
Vol. II, Ch. XX. Simple Reproduction;
Vol. II, Ch. XXI. Accumulation and reproduction on an Enlarged Scale;
Vol. III, Ch. X. Market Prices and Market Values;
Vol. III, Ch. XIII. The Law of the Falling Tendency of the Rate of Profit: The Theory of the Law;
Vol. III Ch. XIV. Counteracting Causes;
Vol. III, Ch. XV. Unravelling the Internal Contradictions of the Law;
Vol. III, Ch. LI. Conditions of Distribution and Production;

XXII. V. I. Lenin. The Teachings of Karl Marx
XXIII. V. I. Lenin. Our Programme
XXIV. V. I. Lenin. What is to be done?
XXV. V. I. Lenin. The Revolution of 1905
XXVI. V. I. Lenin. Materialism and Empirio-Criticism
XXVII. V. I. Lenin. The Historical Fate of the Teaching of Karl Marx
XXVIII. V. I. Lenin. Socialism and War
XXIX.

V. I. Lenin. Imperialism: The Highest Stage of Capitalism

[Ch. VII. Imperialism as a Special Stage of Capitalism;
Ch. VIII. Parasitism and the Decay of Capitalism;
Ch. IX. Critique of Imperialism]

 

XXX.

V. I. Lenin. The State and Revolution

[Ch. I. Class Society and the State;
Ch. V. The Economic Basis of the Withering Away of the State]

XXXI. V. I. Lenin. Letters from Afar
XXXII. V. I. Lenin. The Tasks of the Proletariat in our Revolution
XXXIII. J. Stalin. Report on the Political Situation, August 1917
XXXIV. V. I. Lenin. On the Eve of October
XXXV. J. Stalin. The October Revolution
XXXVI. V. I. Lenin. The Proletarian Revolution and Kautsky the Renegade
XXXVII. J. Stalin. Foundations of Leninism
XXXVIII. V. I. Lenin. “Left-Wing” Communism: an Infantile Disorder
XXXIX. J. Stalin. The International Situation, August 1927
XL. J. Stalin. Report at Seventeenth Congress of the Communist Party of the Soviet Union, 1934
XLI. J. Stalin. Address to the Graduates from the Red Army Academy
XLII. The Programme of the Communist International
Appendices
Index

 

Image Source: Graham Stephenson website, Communist Biogs: Emile Burns.

 

 

 

 

Categories
Exam Questions Harvard Undergraduate

Harvard. History of Political and Economic Thought, A.B. Correlation Exam, 1939

Today’s posting is a transcription of the “correlation examination” questions for the history of political and economic thought given at Harvard in May 1939.

Concentrators in Economics will have to pass in the spring their Junior year a general examination on 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.
[SourceHarvard Crimson, May 31, 1938]

A printed copy of questions for twelve A.B. examinations in economics at Harvard for the academic year 1938-39 can be found in the Lloyd A. Metzler papers at Duke’s Economists’ Papers Project. 

Economic Theory,
Economic History Since 1750,
Money and Finance,
Market Organization and Control,
Labor Economics and Social Reform.

  • Six Correlation Examinations given to Honors Candidates.

Economic History of Western Europe since 1750,
American Economic History,
History of Political and Economic Thought,
Public Administration and Finance,
Government Regulation of Industry,
Mathematical Economic Theory.

______________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

 

______________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
CORRELATION EXAMINATION
HISTORY OF POLITICAL AND ECONOMIC THOUGHT

(Three hours)

 

            Answer either FOUR or FIVE questions, selected from TWO or THREE groups. If questions are taken from only TWO groups, at least TWO questions must be answered in each group. If you answer FOUR questions, write about an hour on ONE of them and mark your answer “Essay.” This question will be given double weight.

 

A
Use a separate blue book for the questions in this part.

  1. “The greatest contribution of the Hellenistic Age in the field of political thought was the idea of cosmopolitanism.”
  2. “Dante’s De Monarchia represents both the culmination and the close of medieval political theorizing on international relations.”
  3. “Luther accepted the medieval conception of the social order, while at the same time rejecting all its sanctions.”
  4. “The Leviathan of Hobbes is the best philosophical comment on the Tudor system.”
  5. Who in your opinion is more typical of the eighteenth-century French thought: Montesquieu, Voltaire or Rousseau?
  6. “In a historical discussion of Romanticism, the term should be used in the plural, not in the singular.”
  7. “Hegel’s philosophy, with its emphasis on the historical continuity and collective nature of society, contributed to the growth of various types of political and social thought.”
  8. Discuss the impact of the theory of Evolution on the idea of Progress.
  9. “The Dictatorship of the Proletariat is a modern version of the Enlightened Despotism.”
  10. “It is highly significant that the present-date dictatorships, while frankly admitting they are anti-liberal nature, all pretend that they are more democratic than the old democracies.”

B
Use a separate blue book for the questions in this part.

  1. To what extent are the classifications of types of governments given by Plato and Aristotle useful at the present day? What amendments or additions would you suggest?
  2. The theory of popular sovereignty in the Middle Ages.
  3. “When Machiavelli based his instruction for Princes on the freedom from restraint, it seemed to the men of his day and unheard-of innovation, a monstrous crime.”
  4. “What is called totalitarianism is really the rediscovery of the doctrine of sovereignty, well-established in the 16th century, by nations which have more recently come to national life and the realization of it. Nothing has been added to the doctrine except the confusion of legal omnipotence with a practical omnicompetence.”
  5. “It was in truth a revolutionary act when Rousseau struck out the contract of rulership from the contractual theory; but it was not wholly without preparation that this stroke fell.”
  6. “It is in general a necessary condition of free institutions that the boundaries of governments should coincide in the main with nationalities.”
  7. How would you explain the weakness and inadequacy of American political thought in the period since the early years of the 19th century?
  8. “The idea of the totalitarian State was born in the last world war, which became a totalitarian war.”
  9. “The Fascist state is not legal but social; it deals with men as they are, not with legal patterns or abstractions. It does not recognize the “rights of citizens”; it offers men, services.”

 

C
Use a separate blue book for the questions in this part.

  1. “For a modern student, seeking to understand and to judge the medieval doctrines about ‘usury’, both the theoretical arguments supplied by Aristotle, and the religious attitude of the Church, are less important than certain medieval economic conditions.”
  2. “The basis of mercantilism was not confusion of the ideas, money and wealth, but a set of conditions which made the policy inevitable and right in that era.”
  3. “Few writers in history have exerted an influence upon the policies of any nation, equal to that of Adam Smith over British fiscal and commercial policy throughout the nineteenth century.”
  4. “The two parts of Ricardo’s system of economic theory were inconsistent; his theory of value or exchange implied, given free markets or free competition, a perfect harmony of all individual interests with one another and the public interest; but his theory of distribution, or wages, profits, and rent, implied a conflict of class-interests, in which Capital robs Labor while the Landlords Rob both.”
  5. “The classical tradition of economic theory is not responsible for the economic interpretation of history; for Marx was led to the latter, not at all by the ideas he borrowed from the classical economists, but wholly by Hegel’s philosophy of history, which he converted from ‘dialectical idealism,’ into his own theory of ‘dialectical materialism.’”
  6. “The ‘marginal utility’ and ‘productivity’ theories were invented in the late 19th century by the Austrian economists, J. B. Clark, and others, in an effort to refute Marx; and they failed to do this, because Marx had written about actual capitalism, while these new theories assumed an economic system that never did, or could, exist.”
  7. “The history of economic theory, in relation to that of the public policies discussed by economists, shows how small a part reason plays in the conduct of human affairs. To take only one example; although all economists have agreed, for a century, that Free Trade is beneficial, and Protection is harmful to every nation, only England heeded them for a little while, and they are now ignored on this issue, thru-out the world.”
  8. “The majority of the nineteenth century economists scarcely recognized, and their present-day successors are still far from understanding, the worst disease of the modern economic system, i.e., that which has caused it, ever since the outset of the industrial revolution, to break down every tenth year or so, in a world-wide depression.”
  9. “The ‘trust-busting’ era in American history had behind it the over-simple theory of business competition and monopoly, of the 19th century economists. But economists now possess a more realistic theory of ‘monopolistic competition,’ which may lead in time to public acceptance, and regulation of monopolies, replacing futile efforts to suppress them.”
  10. “The early, classical economic theory properly emphasized the ‘long-run’ effects of disturbing changes in economic conditions, which if allowed to work themselves out, usually correct the distressing, immediate effects that public opinion always wants governments to correct at once. But as more recent economic theorists have turned to ‘short-run’ analysis, they have fallen a prey, themselves, to the popular fallacies exploded by their predecessors.”

May 12, 1939.

 

 

Source: David M. Rubenstein Rare Book & Manuscript Library, Duke University. Lloyd A. Metzler Papers, Box 7; [Harvard University], Division of History, Government and Economics, Division Examinations for the Degree of A.B., 1938-39.

Categories
Economic History Exam Questions Harvard Undergraduate

Harvard. A.B. Correlation Examination, American Economic History, 1939

Today’s posting is a transcription of the “correlation examination” questions for American economic history given at Harvard in May 1939.

Concentrators in Economics will have to pass in the spring their Junior year a general examination on 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.
[SourceHarvard Crimson, May 31, 1938]

A printed copy of questions for twelve A.B. examinations in economics at Harvard for the academic year 1938-39 can be found in the Lloyd A. Metzler papers at Duke’s Economists’ Papers Project. 

Economic Theory,
Economic History Since 1750,
Money and Finance,
Market Organization and Control,
Labor Economics and Social Reform.

  • Six Correlation Examinations given to Honors Candidates.

Economic History of Western Europe since 1750,
American Economic History,
History of Political and Economic Thought,
Public Administration and Finance,
Government Regulation of Industry,
Mathematical Economic Theory.

______________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

__________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
CORRELATION EXAMINATION
AMERICAN ECONOMIC HISTORY
(Three hours)

Answer either FOUR or FIVE questions, including TWO from each group. If you answer FOUR questions, write about an hour on ONE of them and mark your answer “Essay.” This question will be given double weight.

A
Use a separate blue book for the questions in this part.

  1. Did the colonies profit economically from their position in the British colonial system?
  2. Describe and contrast the land policies of Massachusetts and Virginia in the colonial period.
  3. How much of the weakness of the government under the Articles of Confederation would you attribute to the economic condition of the country?
  4. Why die New York rather than Boston, Philadelphia, Baltimore, Norfolk or Charleston become the pre-eminent port of the United States?
  5. Was slavery profitable?
  6. Can the Republican party on its record 1865 to 1900 be spoken of as the “sound money party”?
  7. Describe the efforts of state governments to regulate the railroads in the period before 1887.
  8. How do you account for the triumph of the American Federation of Labor over the Knights of Labor?
  9. Is there a continuity between the Progressive movement of the early part of this century and the economic policies of Franklin Delano Roosevelt?

 

B
Use a separate blue book for the questions in this part.

  1. “The real forces behind the trust movement were very plain and simple. A lot of excellent bankers in Wall Street found that they could buy two and two, put them together and sell to the public for six or seven or eight.”
  2. “The farmers have always tried to put the blame for their ‘troubles’ on some external factor—money, railroads, trusts—but the real cause was always the same: overproduction.”
  3. Sketch the more important consequences of immigration into the United States in the period 1870-1914.
  4. “The momentary flowering of canal transport in this country a hundred years ago had little basis outside the alluring fantasies of that generation of state planners.”
  5. What important consequences of the public land policy in the nineteenth century remain today?
  6. Discuss the effects of the Napoleonic Wars on American economic life.
  7. “In industrial production America went directly from the handicraft stage to the factory system.”
  8. Explain briefly the attitudes in different regions of the country on questions of monetary and banking policy during the period 1820-1850.
  9. What methods were used by the United States Government to mobilize its economic resources during the World War?

May 12, 1939.

 

Source: David M. Rubenstein Rare Book & Manuscript Library, Duke University. Lloyd A. Metzler Papers, Box 7; [Harvard University], Division of History, Government and Economics, Division Examinations for the Degree of A.B., 1938-39.

 

 

 

Categories
Economic History Exam Questions Harvard

Harvard. A.B. Correlation Exam for W. European Economic History since 1750. 1939

Today’s posting is a transcription of the “correlation examination” questions for the economic history of Western Europe since 1750 given at Harvard in May 1939.

Concentrators in Economics will have to pass in the spring their Junior year a general examination on 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.
[SourceHarvard Crimson, May 31, 1938]

A printed copy of questions for twelve A.B. examinations in economics at Harvard for the academic year 1938-39 can be found in the Lloyd A. Metzler papers at Duke’s Economists’ Papers Project. 

Economic Theory,
Economic History Since 1750,
Money and Finance,
Market Organization and Control,
Labor Economics and Social Reform.

  • Six Correlation Examinations given to Honors Candidates.

Economic History of Western Europe since 1750,
American Economic History,
History of Political and Economic Thought,
Public Administration and Finance,
Government Regulation of Industry,
Mathematical Economic Theory.

______________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

 

______________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
CORRELATION EXAMINATION

Economic History of Western Europe since 1750
(Three hours)

 

Answer either FOUR or FIVE questions, including TWO from each group. If you answer FOUR questions, write about an hour on ONE of them and mark your answer “Essay.” This question will be given double weight.

A
Use a separate blue book for the questions in this part.

  1. Discuss the economic causes, or the economic effects, in France, of the French Revolution.
  2. Discuss the relationship between economic developments and changes in the English imperial policy during the late eighteenth and early nineteenth centuries.
  3. Outline the history and discuss the economic importance of canals in any major European country.
  4. The beginnings of agricultural science.
  5. “If, under the surface of frequent political disturbances, France retained her social equilibrium throughout the nineteenth century, that was due in no small degree to the peculiarities of her economic development.”
  6. Economic factors in the unification of Germany.
  7. “In the middle of the nineteenth century England occupied a paradoxical position: she was the center of a world economy, and yet she was entirely dependent on the rest of the world.”
  8. Outline and discuss the movement towards federation and amalgamation among trade unions in England, France or
  9. Discuss the principal stages in the development of the Soviet agrarian policy.

 

B
Use a separate blue book for the questions in this part.

  1. “The ‘industrial revolution’ means the change from production with hand tools to production with power-driven machinery. It was brought about, first, in the textile industries, by a series of inventions made in England around the end of the eighteenth century, and gradually introduced, later on, into other countries.”
  2. “The free trade policy of nineteenth century England sacrificed her permanent, national interests to the temporary interests of her manufacturers, disguised at the time in the imaginary, permanent principles of her economists and pacifists; the result is the present economic and military weakness of England.”
  3. Discuss the reasons why France has remained so largely an agricultural country, attaining high industrial rank in only a few particular industries.
  4. Discuss the economic policies of Gladstone and his party affiliations.
  5. What economic and political interests did England have in the Suez Canal? By what means did she secure control of it?
  6. “The German cartel was not, as many observers predicted, a step on the road to great trusts.”
  7. What considerations have dominated British policy in respect of petroleum and petroleum resources, since 1914?
  8. Discuss the development of protection for agricultural products in France or Germany during the latter part of the 19th
  9. “It is paradoxical that a labor party appeared later in England, than in European countries where industrial capitalism was relatively less advanced throughout the nineteenth century.”

 

May 12, 1939.

Source: David M. Rubenstein Rare Book & Manuscript Library, Duke University. Lloyd A. Metzler Papers, Box 7; [Harvard University], Division of History, Government and Economics, Division Examinations for the Degree of A.B., 1938-39.

 

 

Categories
Courses Harvard Suggested Reading Syllabus

Harvard. Graduate Mathematical Economics. Goodwin, 1948

In the Fall term of 1948-49 assistant professor Richard M. Goodwin took over the graduate course in Mathematical Economics at Harvard from Wassily Leontief (who last taught the course during the academic year 1946-47).

Earlier postings at Economics in the Rear-View Mirror for Goodwin:

Reading list for a course on business cycles,
Letters from Burbank and Schumpeter on Goodwin’s behalf to Columbia,
and a 1951 Harvard Crimson feature written by the Edward Snowden precursor, Daniel Ellsberg (who leaked the Pentagon Papers in 1971).

Some might see “physics envy” in Goodwin’s selection of reference texts. But do remember, there was hardly a plethora of books on mathematical methods in economics to choose from at that time.

__________________________________

[Course Announcement]

Economics 204b (formerly Economics 104b). Mathematical Economics
Half-course (fall term). Tu., Th., 2:30-4. Assistant Professor Goodwin.

Properly qualified undergraduates will be admitted to this course.

 

Source: Harvard University. Final Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences for the Academic Year 1948-49, p. 77.

____________________________________

[Course enrollment]

[Economics] 204b (formerly 104b). Mathematical Economics (F). Assistant Professor Goodwin.

2 Graduates, 3 Seniors, 1 Junior, 1 Public Administration, 2 Radcliffe: Total 9

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1948-49, p. 77.

____________________________________

 

1948-49
Economics 204b

A
Partial Analysis

  1. The Role of Logical and of Empirical Elements in Economics
  2. Power Series and Linear Approximations
  3. Marshallian Static Market
  4. Dynamical Partial Equilibrium with examples of first and second order differential equations
  5. Durable Goods Markets, The Acceleration Principle and Simple Aggregative Mechanisms
  6. The Cob-web Theorem and the Multiplier
    First Order Difference Equations
  7. Inventory Cycles
    Second Order Difference Equations

Reading Assignments:

P. Frank, Foundations of Physics, Parts I, II and Section 14.
P. A. Samuelson, Foundations of Economic Analysis, Chs. I, II, IX, and X, pp. 302-307
Marshall, Principles of Economics, Book V, Ch. I, II, III
R. Frisch, “The Interrelation between Capital Production and Consumer Taking”, Journal of Political Economy, 1931.
M. Ezekiel, “The Cob-web Theorem,” in Readings in Business Cycle Theory
R. M. Goodwin, “The Multiplier,” in The New Economics, ed. S. E. Harris
L. A. Metzler, “The Nature and Stability of Inventory Cycles,” Review of Economic Statistics, 1941.
Ibid., “Factors Governing the Length of Inventory Cycles,” Review of economic Statistics, 1947.

 

B
General Interdependence

  1. The Leontief Matrix, Linear Systems
  2. The Multiplier as Matrix: Static Analysis, Inhomogeneous Systems
  3. The Multiplier as Matrix: Dynamic Analysis, Dynamical Difference Equation Systems
  4. Linear Dynamic Systems in Economics

Reading Assignments:

T. Haavelmo, “The Interdependence Between Agriculture and the National Economy, J.F.E. [Journal of Farm Economics], 1947.
W. Leontief, The Structure of the American Economy, pp. 1-42.
Ibid., “Output, Employment, Consumption, and Investment,” Q.J.E., 1944.
R. M. Goodwin, “Dynamical Coupling,” Econometrica, 1947.

Reading Period: (Read all of the following)

J. Tinbergen, “Econometric Business Cycle Research,” in Readings in Business Cycle Theory.
P. A. Samuelson, “Interactions between the Multiplier Analysis and the Principle of Acceleration,” in Readings.
Ibid., “Dynamic Process Analysis,” in A Survey of Contemporary Economics, ed. by H. S. Ellis.
Ibid., Foundations of Economic Analysis, Chs. XI and XII.

 

[Handwritten on back of library copy
of reading list by Richard M. Goodwin]

To be put on reserve for
Ec 204b

A. C. Aitken, Determinants and Matrices
F. L. Griffin, Introduction to Mathematical Analysis
R. Courant, Differential and Integral Calculus vol I and II
L. A. Pipes, Applied Mathematics for Engineers and Physicists
R. G. D. Allen, Mathematical Analysis for Economists
P. A. Samuelson, Foundations of Economic Analysis

____________________________________

 

[Handwritten note by Richard M. Goodwin]

 

Oct. 22, 1948

Reading Room
Widener Lib.

Dear Sirs:

I would like to have the following books put on reserve for Economics 204b.

A. C. Aitken, Determinants and Matrices
R. Courant, Differential and Integral Calculus vol I and II
L. A. Pipes, Applied Mathematics for Engineers
R. G. D. Allen, Mathematical Analysis for Economists
P. A. Samuelson, Foundations of Economic Analysis
P. Frank, Foundations of Physics
S. Harris, editor, The New Economics

Thanking you, I am

Sincerely

[signed]
Richard M. Goodwin

 

Source: Harvard University Archives. . Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 4, Folder “Economics 1948-1949 (2 of 2)”.

Image Source: Harvard Album, 1946.

 

Categories
Courses Harvard Suggested Reading Syllabus

Harvard. Advanced Economic Theory. William Fellner, 1950-51

As mentioned in the previous posting, William Fellner of the University of California was called in to fill for Wassily Leontief’s graduate course in Advanced Economic Theory during the academic year 1950-51 at Harvard. Another course taught by Fellner that year was history of economics for undergraduates. Still only available in libraries or from used-book dealers is the 1992 “Bio-Bibliography” of William J. Fellner by James N. Marshall. Of course “Bio” means “biography” here.

_____________________________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

_____________________________________

[Course Announcement]

Economics 202 (formerly Economics 102a and 102b). Advanced Economic Theory
Full course. Tu., Th., and (at the pleasure of the instructor) Sat., at 11. Professor Fellner (University of California).

Economics 201 or an equivalent training is a prerequisite for this course. Other properly qualified students must obtain permission to register from the instructor.

 

Source:  Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1950-51. Official Register of Harvard University, Vol. XLVII, No. 23 (September, 1950) , p. 83.

________________________________________

1950-51
Economics 202
Fall Term

Value Theory (Costs of Production, Demand, Principles of Pricing under Various Market Structures, and the Bearing of These on Welfare Problems)

The list of readings is not final. It will be adjusted to the classroom discussion. Some readings will be assigned, others recommended.

 

  1. Difficulty of “placing” the economies of the Western world in terms of concepts such as capitalism, socialism, individualism, collectivism, etc. Problems arising for theory from the multiplicity of more or less rigidly (or loosely) organized groups.

 

  1. Costs of Production

Production functions, the law of variable proportions.

Cost functions of single-plant firms, of multiple-plant firms and of industries. Short and long-run analysis. Internal and external economies. Relationship between supply functions and cost functions. The particular expenses function. The demand for factors of production. Technological and organizational improvement.

Readings:

Cassels, The Law of Variable Proportions (in Explorations in economics, Essays in Honor of F. W. Taussig).
Hicks, Value and Capital, Chs. 6 and 7.
Viner, Cost Curves and Supply Curves (reprinted from Zeitschrift fuer Nationaloekonomie, 1931).
Harrod, Doctrines of Imperfect Competition (reprinted from Q.J.E.)
Stigler, Production and Distribution in the Short-run (Readings in the Theory of Income Distribution).
Chamberlin, Proportionality, Divisibility and Economies of Scale (Q.J.E., February 1948).
Patinkin, Multiple-Plant Firms, Cartels and Imperfect Competition, (Q.J.E., February 1947).
Joan Robinson, The Economics of Imperfect Competition, Ch. 10 and Ch. 20.
Marshall, Principles of Economics, Appendix H.
National Bureau of Economic Research, Cost Behavior and Price Policy, Ch. 5.

  1. Demand Functions

The assumption of rational consumer behavior. Marginal utility and the indifference curve approach. The measurability problem. Consumer surplus. Complementarity and the rival relationship. Marginal utility of money. The significance of price-elasticity and of income-elasticity. Inferiority and the Giffen Effect. How much validity is there in criticisms of the rationality assumption?

Readings:

Marshall, Principles of Economics, Book IV.
Hicks, Value and Capital, Part I.
Henderson, Consumer Surplus and the Compensating Variation, Review of Economic Studies, February 1941.
Friedman-Savage, Utility of Choices Involving Risk, J.P.E., August 1948.
V. Neumann-Morgenstern, The Theory of Games, pp. 15-20.
Veblen, Marginal Utility Economics (in The Place of Science in Modern Civilization).

 

  1. Market Structures (monopoly, competition, monopolistic competition in large and small groups)

The industry concept and various measures of relationships between firms. The relationship between the size of the market and the size of the firm. The dependence of this relationship on real economies of scale, on exploitative advantages of scale, and on product-differentiation. The bearing of these on welfare. The concept of profit-maximization in various market-structures. Limitations of profit-maximization. “Institutional” considerations.

Readings:

Chamberlin, The Theory of Monopolistic Competition.
Joan Robinson, Economics of Imperfect Competition, Book V.
Fellner, Competition Among the Few, Chs. 1 (incl. Appendix) and 4 through 9.
Sweezy, Demand under Conditions of Oligopoly, J.P.E., June 1939.
Lerner, The Concept of Monopoly and the Measurement of Monopoly Power, Review of Economic Studies, June 1934.
(Possibly also Rothschild, Economica, February 1942, and Bain, ibid, February 1943).
Buchanan, Advertising Expenditures: A Suggested Treatment, J.P.E., August 1942.
Marschak, Neumann and Morgenstern on Static Economics, Journal of Political Economy, April 1948 (reprinted in Cowles Commission Papers No. 13).
Ellis (ed.), Survey of Contemporary Economics, Ch. 1 (Haley).
National Bureau of Economic Research, Cost Behavior and Price Policy (Sections in Chs. 9-11).

 

  1. The Nature of the General Equilibrium Approach

The coexistence (for methodological reasons) of two types of General Equilibrium approach. Difficulties arising from this. Characterization of the general theory of allocation, given the level of aggregate activity; and of the theory of the determinants of aggregate activity. Brief discussion of the first (the second will presumably be left to the Spring Term).

Readings:

Stigler, Theories of Production and Distribution, Chapter on Walras.
Leontief, Output, Employment, Consumption and Investment, Q.J.E., February 1944.
(Probably also assignments in Phelps-Brown, The Framework of the Pricing System).

__________________________________________

Econ. 202B (Spring Term) [1950-51]

Employment Theory (including introduction to National Income Concepts) and the Theory of Distribution

The list of readings is not final. It will be adjusted to the classroom discussion. Some readings will be assigned, others recommended.

I

Introductory discussion of the changing content of concepts expressing the “net” yield of economic activity. References to Quesnay, Smith (W. of N. Book II Chs. 2 and 3), Ricardo (Principles Ch. 26), Marx, Fisher (Nat. of Cap. and Int. Ch. 7), Pigou (Ec. of Welfare, Book I Chs. 1-8).

 

II

Determinants of aggregate output and employment in terms of “savings-investment” concepts such as the Wicksellian, Robertsonian, Keynesian. Translation of the analysis into terms of contemporary national income concepts. The savings-investment approach and the velocity approach. The search for links between value theory and the aggregative approach.

Readings:

Keynes, General Theory of Employment, Interest and Money; and The Ex-ante Theory of the Rate of Interest, Economic Journal, December 1937.
Ellis, (ed.), Survey of Contemporary Economics, Ch. 2; Ch. 8
Lange, The Rate of Interest and the Optimum Propensity to Consume (Readings in Business Cycle Theory).
Robertson, Saving and Hoarding (Economic Journal, September 1933).
Survey of Current Business, July 1947 Supplement.
Angell, Investment and Business Cycles (Chs. 9 and 11 and appendix on income velocity.

 

III.

Bearing of national income concepts on welfare problems. How near can we get to a directly relevant welfare judgment by using “objective” data of this sort? The main qualifications (changes in tastes, distribution, working conditions, natural resources, difficulties inherent in “net” income concepts, etc.). Long-run trends.

Readings:

Pigou, The Economics of Welfare, Part I, Chs. 1-8.
Fisher, The Nature of Capital and Income, Ch. 7.
The Hicks-Kuznets discussion in Economica, May 1940; February, May and August 1948 (only specific sections will be covered)
Kuznets, National Product Since 1869 (sections relating to long-run trends in terms of “overlapping decades”).

 

IV

The statistically distinguished income shares (their short- and long-run behavior); the problem of the functional shares proper.

Readings:

Annual Report of the Council of Economic Advisers (sections in text and appendix relating to distribution in terms of compensation of employees, income of individual owners, corporate profits, etc.)
Fisher, The Theory of Interest, Chs. 5-11.
Boehm-Bawerk, The Positive Theory of Capital, Book V (mainly Chs. 3-5).
Robertson, Mr. Keynes and the Rate of Interest (Readings in the Theory of Income Distribution).
Hicks, Value and Capital, Ch. 12.
Hicks, The Theory of Wages, Ch. 5.
Fellner, Competition Among the Few, Ch. 10, and pp. 311-328).
Knight, Capital and Interest; and Monetary Policies and Full Employment, pp. 152-166 (Readings in the Theory of Income Distribution).
Knight, Risk, Uncertainty and Profit, Ch. 7.
Schumpeter, The Theory of Economic Development, Ch. 4.; and references to Business Cycles.

 

V

The meaning of the functional-distribution problem on the one hand and of distribution by size of income on the other.

Readings:

Selma F. Goldsmith, Statistical Information on the Distribution of Income by Size in the United States, A.E.R., May 1950, Papers and Proceedings
Annual Report of the Council of Economic Advisers

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 5, Folder “Economics 1950-1951 (2 of 2)”.

Image Source: AEA portrait of William Fellner, Number 71 of a series of photographs of past presidents of the Association, in American Economic Review, Vol. 60, No. 1 (1970).