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Exam Questions Harvard Sociology Suggested Reading Syllabus

Harvard. Sociology. Syllabus, reading assignments, final exam. Carver and Joslyn, 1927-28

 

This post has two functions: it adds to the syllabi for sociology taught at Harvard previously transcribed:  

Economics 3. Thomas Nixon Carver and William Z. Ripley, 1902
Economics 8. Thomas Nixon Carver, 1917-18.

It also serves as a meet an economics Ph.D. alumnus from Harvard post. The 1927-28 offering of Economics 8 was co-taught by Professor Carver and his sociology graduate student, Carl Smith Joslyn.

Carl Smith Joslyn (b. 20 Aug 1899 in Springfield, MA.; d. 23 Dec 1986 in Worthington, MA) went to Central High School in Springfield. At Harvard he received the Class of 1844 Scholarship (1919-1920). He went on to chair the sociology department at the University of Maryland, during which time he hired young C. Wright Mills.

________________

Carl Smith Joslyn
Harvard Ph.D. in Economics, 1930.

Carl Smith Joslyn, A.B. 1920
Subject, Economics. Special Field, Sociology. Thesis, “The Social Origins of American Business Leaders.” Instructor in Economics and Tutor in the Division of History, Government, and Economics, and Tutor in Sociology and Social Ethics, Harvard University.

Source: Harvard University. Report of the President of Harvard College, 1929-30. Page 120.

________________

Course Enrollment

[Economics] 8a1hf. Professor [Thomas Nixon] Carver and Mr. [Carl Smith] Joslyn.— Principles of Sociology

Total 79: 7 Graduates, 23 Seniors, 36 Juniors, 2 Sophomores 11 Other.

Source: Harvard University. Report of the President of Harvard College, 1927-28. Page 74.

________________

8. Principles of Sociology

[This is for 1928-29, virtually identical to 1924-25 description]

Mon., Wed., and (at the pleasure of the instructor) Fri., at 12.
Professor Carver and Mr. Joslyn

A study of human adaptation. Progress defined as adaptation. In what does progress consist, how may it be verified, what are the factors that promote or hinder it? The biological as well as the psychological, moral, economic, and political factors are studied. Attention is given to problems of moral adjustment and readjustment, of active control of the environmental factors, of economizing human energy and of social control.

Source: Division of History, Government, and Economics 1928-29.  Official Register of Harvard University, Vol. XXV, No. 29 (May 26, 1928), p. 68.

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Economics 8

I.
Introduction

  1. The Nature, Scope, and Method of Sociology

A study of purposeful human association.
Relation to Linguistics, Psychology, Jurisprudence, Ethics, Politics, Economics.

Carver, Sociology and Social Progress, pp. 1-14; 65-79.
Bushee, Principles of Sociology, ch. 1.

  1. The Evolutionary Concept in Sociology:
    (1) Continuity; (2) Change; (3) Differentiation; (4) Fixation.

Spencer, Principles of Sociology, Pt. I, ch. 1. Pt. II, chs. 1-4.
Bristol, Social Adaptation, pp. 29-40; 123-149.

  1. The Mechanism of Organic and Super-organic (Social) Evolution Compared.
    (1) Variation. (a) spontaneous or artificially produced; (b) minute or extreme.
    (2) Selection. (a) Natural. (b) social.

Bristol, Social Adaptation, pp. 55-79.
Carver, Sociology and Social Progress, pp. 276-299.
Bushee, Principles of Sociology, pp. 42-56.
Carver, Essays in Social Justice, pp. 1-27.

  1. The Origin and Development of Human Society.
    Survival value of (a) associated effort; (b) social inclination.

Giddings, Principles of Sociology, pp. 199-229; 256-323.
Dealey and Ward, Textbook of Sociology, Ch. I.

  1. The Nature and Conditions of Social Progress. Progress considered as the adaptation of the organism, man, to his environment: the method of adaptation being (a) Passive, or (b) active; the character of the environment being (a) physical, or (b) social.

Bushee, Principles of Sociology, pp. 19-41; 73-103.
Carver, Sociology and Social Progress, pp. 88-120.
Bristol, Social Adaptation, Preface and Introduction.

  1. The Limits of Social Progress: A mutual fitting together or balancebetween the passive and the active forms of adaptation.
    (1) on the physical side, (a) such modifications as will enable it to live healthfully in the modified physical environment, (b) such improvements of the physical environment as will so fit the modified human organism as to enable it to live healthfully.
    (2) on the moral side; (a) such modifications of the intellectual and moral nature of man as will cause individuals to react favorably to such stimuli as can be brought to bear upon them by an improved system of social control: (b) such improvements in the system of social control as will secure favorable responses from the improved intellectual and moral nature of man.

Bristol, Social Adaptation, pp. 221-304.

II.
A. Passive physical adaptation.

  1. Race and Environment as Factors in Social Progress.

Carver, Sociology and Social Progress, pp. 174-243; 498-500; 631-636.
Bristol, Social Adaptation, pp. 105-120.

  1. The Stability of the Racial Factor in Historic Time: the Inheritance of Acquired Characters.

Bushee, Principles of Sociology, pp. 362-368.
Popenoe & Johnson, Applied Eugenics, pp. 25-74; 99-115; 402-423.

  1. The Displacement of Natural Selection by Social Selection and its Consequences:
    (a) the Differential Birth-rate; (b) Philanthropy; (c) The Punishment of Criminals; (d) Military Selection.

Carver, Sociology and Social Progress, pp. 392-409; 647-653; 676-696.
Popenoe and Johnson, Applied Eugenics, pp. 116-146.
Bushee, Principles of Sociology, pp. 386-413.
Bristol, Social Adaptation, pp. 92-102.

  1. The Correlation of Ability and Social Status; Nature and Nurture in Social Stratification. Tests of Ability; (a) economic. (b) psychological.

Popenoe & Johnson, Applied Eugenics, pp. 1-24; 75-98.
Bushee, Principles of Sociology, pp. 326-361; 369-385.

  1. The Qualitative Control of Population; Eugenic and Dysgenic Factors in Modern Society.

Popenoe and Johnson, Applied Eugenics, pp. 176-279.

  1. The Increase of Population in Modern Times:
    a) General, (b) local, (c) occupational.

East, Mankind at the Crossroads, pp. 45-109; 146-198.

  1. The Quantitative Control of Population; the Operation of Positive and Preventive Checks in Modern Society.
    The Redistribution of population to relieve congestion. (a) local; (b) occupational.

Carver, Sociology and Social Progress, pp. 133-173.
East, Mankind at the Crossroads, pp. 231-283.

  1. Marriage and the Family; Disintegrative Forces and their Control.

Bushee, Principles of Sociology, pp. 252-273.
East, Mankind at the Crossroads, pp. 318-339.
Carver, Sociology and Social Progress, pp. 317-375; 674-675.

B. Passive Intellectual and Moral Adaptation.

  1. The Raw Material of Mental and Moral Development; Human Nature and its Re-Making

McDougall, Social Psychology, pp. 19-120.

  1. The Original Nature of Man; Instinct vs. Environment in Human Institutions.

McDougall, Social Psychology, pp. 121-227.

  1. The Psychology of the Crowd; Fundamental Processes of Social Behavior; the Nature of the “Group Mind”.

Carver, Sociology and Social Progress, pp. 503-521.
Bushee, Principles of Sociology, pp. 417-444.
McDougall, Social Psychology, pp. 279-301, 322-351.

  1. Education as the Instrument of Intellectual Adaptation; a Sociological View of the Objective and the Methods in Education.

Spencer, Education, pp. 21-128.

  1. Religion as the Instrument of Moral Adaptation; an Appraisal of Current Tendencies in Religion and Ethics.

Carver, Sociology and Social Progress, pp. 481-497.
Bushee, Principles of Sociology, pp. 529-549.
Carver, Religion Worth having, pp. 3-24; 93-140.

  1. The Problem of the Morally Unadapted; the Nature and Causes of Crime; a Program for Social Control.

Carver, Sociology and Social Progress, pp. 654-673.
Ferri, Criminal Sociology (to be assigned).
Parmelee, Criminology (to be assigned).

C. Active Physical Adaptation.

  1. Material Adaptation as the Productive Utilization of Human Energy; Prevalent Forms of Waste and their Elimination.

Carver, The Economy of Human Energy, pp. 140-181.
Veblen, The Theory of the Leisure Class, pp. 35-101.

  1. The Problem of Material Mal-Adaptation; Poverty and its Causes; a Program for Social Reform.

Carver, Essays in Social Justice, pp. 349-383.
Warner, American Charities, pp. 36-90.

  1. The Nature and Justification of Property; Problems of Ownership and Control in Modern Industry.

Carver, Essays in Social Justice, pp. 304-323.
Tawney, The Acquisitive Society, pp. 1-83.

  1. Radical Programs of Social Reform; Socialism, Anarchism, Syndicalism, and their Variants.

Carver, Essays in Social Justice, pp. 232-263.
Taussig, Inventors and Money-makers, pp. 76-135.

  1. Liberty and Equality as Practicable and Compatible Ideals; the Peculiar Destiny of the American Nation.

Carver, Essays in Social Justice, pp. 264-280.
Carver, The Present Economic Revolution in the United States, pp. 15-65; 233-263.

D. Active Moral Adaptation, or Social Control in its Broader Aspects.

  1. The Place of the State in Human Adaptation. Physical Compulsion as a System of Social Control. Punishment. Voluntary Agreement. The Problem of the Reconciliation of Group Interests and Individual Interests.

Bushee, Principles of Sociology, pp. 176-205.
Carver, Sociology and Social Progress, pp. 750-763.
Mill, Essay on Liberty, chs. 1, 2, and 4.

  1. The Essential Nature of Democracy; Sensitivity and how it is achieved (a) in a coercive state, (b) in a non-coercive business.

Spencer, Principles of Sociology, Pt. V, Chs. XVII, XVIII and XIX.

  1. Problems of Modern Democracy; a Survey of the claims of Democracy as the “Ideally Best Polity”

Carver, Sociology and Social Progress, pp. 764-787.
Mill, Essay on Representative Government, chs. 1, 2, 3, 5, and 6.

  1. The Possibility of Progress; a Recapitulation of Inorganic, Organic, and Social Evolutions and a Forecast of Future Developments.

(Reading to be assigned)

 

Reading Period

Ec 8a Professor Carver.

Sumner and Keller: Science of Society, Vol. I. Chs. I-X inclusive, Chs. XVIII, XIX.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003 (HUC 8522.2.1) Box 2, Folder “Economics, 1927-1928”.

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1927-28
HARVARD UNIVERSITY

ECONOMICS 8a1
Final Examination

Allow about one hour to each part of the examination.

I

  1. Below are given two contrasting views regarding: (a) the effects which an increase in numbers “in any given state of civilization” might be expected to have on the productive capacity of society; (b) the cause of want and misery in society. Which of these seems to you the more reasonable in each of these respects, and why? State in each case the considerations which, in your opinion, led the writer to take the particular view of the matter which he did.
    “A greater number of people cannot, in any given state of civilization, be collectively so well provided for as a smaller. The niggardliness of nature, not the injustice of society, is the cause of the penalty attached to over-population.”
    “I assert that in any given state of civilization a greater number of people can collectively be better provided for than a smaller. I assert that the injustice of society, not the niggardliness of nature, is the cause of the want and misery which the current theory attributes to over-population.”
  2. What is the attitude of Sumner and Keller on the question of “natural” rights? What is your own attitude? Would a man whose labor is absolutely superfluous to society have any right to a subsistence, in your opinion? Explain fully the grounds on which you base your judgment.

II

  1. Discuss the relation of sensitivity to democracy and point out the principal ways by which those who govern or manage are made sensitive to the interests of those who are governed or managed.
  2. What is meant by the vertical mobility of labor and what social institutions tend to decrease and what tend to increase it?
  3. Suppose that, from the beginning of human evolution, individual effort had been more effective than associated effort, do you think that men would have developed a social nature? Give reasons for your answer.

III

  1. Sumner and Keller have traced back all of our important social institutions to four primary interests in man. What are these interests and what are the institutions arising from each of them?
  2. Explain concisely each of the following terms, showing by your answer that you have a clear understanding of their several meanings:
    1. the man-land ratio;
    2. parallel induction;
    3. intellectual egalitarianism;
    4. maintenance-mores;
    5. ghost-fear;
    6. non-sustentative lethal selection;
    7. Marx’s theory of economic stratification;
    8. assortative mating
  3. Men are not sufficiently equipped with instincts to insure automatic behavior which has survival value in the complex life of modern society, neither are they sufficiently endowed with intelligence to secure rational behavior which has survival value. Between the limited field of behavior controlled by instinct and the equally limited field of behavior controlled by reason, there is apparently a wide gap. How is this gap filled?

 

Source: Harvard University Archives. Examination Papers Mid-years, 1927-1928(HUC 7000.55). Papers printed for Mid-year Examinations: History, History of Religions, …, Economics, …, Military Science, Naval Science. January-February, 1928.

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JOSLYN AWARDED $6000
END PRIZE FALLS TO PENN. MAN

May 22, 1920

Carl Smith Joslyn ’20 of Springfield, now working his way through college, has won the Truxton Beale prize of $6000. This award was made as a result of the Walker Blaine Beale memorial contest for a Republican Platform suitable for use in the approaching campaign. The prize was offered by Truxton Beale for the purpose of stimulating political study among young people, and was to be won by a Republican not over 25 years of age.

His Platform Decisive and Complete

Mr. Joslyn’s platform is a well-built and well-reasoned document, embracing nearly a score of the outstanding questions of the day. His Republican convictions are set forth with incisive moderation, which lends emphasis to every statement. He deals expeditiously with the various international and socialistic delusions; sets forth a peace program as clear as it is decisive; makes a quick analysis of the league of nations and puts well defined limits to its powers. The greater part of his platform is, however, devoted to domestic problems, beginning with the high cost of living and following its economic and sociological ramifications through the relations of labor and industry, production and economy, taxation, railroads, foreign trade and merchant marine. ment. He ends with the following paragraphs:

“The Republican party appeals to the people for their support on the stand which it has taken against the abuse of the executive power and for the preservation of the sovereignty and independence of the United States. Its principles and policies are all formulated by a liberal and constructive statesmanship. Its creed is one of undivided Americanism; one faith, one loyalty, one devotion–and these in the service of upbuilding and strengthening the great United States of America, the country which gave the world the ideals of liberty and justice and which has dedicated its future to their perpetuation and advancement.”

Other Prizes Also Fall to College Men

The second prize of $3000 goes to Howard B. Wilson of Philadelphia, a student at the University of Pennsylvania and the third of $1000 to W. P. Smith, a student at the University of Michigan. The judges were President Nicholas Murray Butler of Columbia University, former United States Senator Beveridge and former United States Ambassador David Jayne Hill.

Source: Archive of the Harvard Crimson, May 22, 1960.

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History of U. Maryland’s Sociology Department

Although classes began on this campus in October 1859, the first sociology course was not taught until fall semester 1919.  The course was “Elementary Sociology.”  From the time of this first course until 1935, when a separate Department of Sociology was established, all sociology courses were offered by the Economics Department. During the 1970s, the Sociology Department was restructured and Anthropology and Criminology became separate programs.  Today, the Sociology Department houses the Center for Innovation, Program for Society and the Environment, Maryland Time Use Laboratory, Center for Research on Military Organizations, Group Processes Lab and is affiliated with the Maryland Population Research Center.

Over the years, the sociology faculty has included many nationally and internationally renowned scholars.  In the 1920s, sociology courses were taught by George Peter Murdock, who later created the Human Relations Area Files.  In 1938, Logan Wilson, who later became the President of the University of Texas, joined the faculty for a few years.  C. Wright Mills, the author of The Power Elite, White Collar, and The Sociological Imagination, was a member of the faculty from 1941-1945.  The most renowned scholar on the faculty during the last quarter-century was Morris Rosenberg, the world’s foremost student of how social forces shape the self-esteem.

Since its founding, the Department has had eleven leaders: Theodore B. Manny, Carl Joslyn, Edward Gregory, Harold Hoffsommer, Robert Ellis, Kenneth C. W. Kammeyer, Jerald Hage, William Falk, Lee Hamilton, Suzanne Bianchi, and Reeve Vanneman. The current chair is Patricio Korzeniewicz.

Among the many people who have earned a degree from this department and subsequently achieved considerable recognition are William Form, the first person to hold a Ph.D. (1944) from this department; Parren Mitchell, who became a member of the U.S. House of Representatives; Adele Stamp, for whom the Stamp Student Union is named, and Charles Wellford of the Department of Criminology and Criminal Justice.

Source: University of Maryland, Department of Sociology. Webpage: “History of the Sociology Department”.

Image Source: Thomas Nixon Carver (left) and Carl Smith Joslyn (right) from the faculty photos in the Harvard Class Album 1932.

Categories
M.I.T. Suggested Reading Syllabus

M.I.T. Capital theory. Course outline, suggested readings. Solow, 1975

 

Capital theory à la Solow. Posted earlier: material from Robert Solow’s 1965 capital theory course; material from Paul Samuelson’s 1975 core economic theory course.

________________________

14.459 THEORY OF CAPITAL
Spring 1975
Robert M. Solow

OUTLINE

  1. One-commodity models
    1. No labor, stationary equilibrium, differentiable technology. A complete model
    2. Add labor, steady growth equilibrium
    3. More complicated demand conditions, e.g., class structure
    4. Linear model: one good, one activity and labor
    5. Many activities; continuum of activities
  2. Many capital goods
    1. Simple Leontief Model (i.e., constant returns to scale, no joint production, one primary factor, no possibility of substitution in production)
    2. Generalized Leontief Model (substitute activities)
    3. Non-substitution theorem
    4. Extension to model with production lag
    5. Dynamic non-substitution theorem, factor-price frontier
    6. Examples of a complete equilibrium model in this set-up
  3. Reswitching and “perversity”
  4. What “the Controversy” is all about, if anything

 

SUGGESTED READING

C.C. von Weizsäcker: Steady State Capital Theory, pp. 4-22

E. Burmeister & R. Dobell: Mathematical Models of Economic Growth, Ch. 8

P. A. Samuelson: “The Rate of Interest under Ideal Conditions” QJE, Feb 1939, 286-97; also in Collected Papers, Vol. I, 189-200

P. Garengnani: “Heterogeneous Capital, the Production Function and the Theory of Distribution,” Review of Economic Studies, July 1970

L. Spaventa: “Rate of Profit, Rate of Growth and Capital Intensity in a Simple Production Model,” Oxford Economic Papers, July 1970

B. Rowthorn: “Neo-Classicism, Neo-Ricardianism and Marxism,” New Left Review, No. 86, July/August 1974, 63-87

J. Stiglitz: “The Cambridge-Cambridge Controversy in the Theory of Capital, A View from New Haven,” JPE, July/August 1974, 893-903

K. Sato: “The Neoclassical Postulate and the Technology Frontier in Capital Theory,” QJE, August, 353-384.

 

Source: Duke University. David M. Rubenstein Rare Book & Manuscript Library. Economists’ Papers Archive. Papers of Robert M. Solow, Box 68, Folder without a label.

Image Source: Robert Solow pictures at the MIT Museum website.

Categories
Harvard Socialism Suggested Reading Syllabus

Harvard. Welfare economics and policy. Readings and exam. Bergson, 1959

 

Before he began to be known as the (Western) Dean of Soviet Economic Studies, Abram Bergson’s greatest hit “A Reformulation of Certain Aspects of Welfare Economics” (QJE, 1938) earned him an honored place in the pantheon of welfare economics theorists. Thus it is not surprising that besides courses on socialist economics and the economics of the Soviet Union, he also taught the following course involving the application of welfare economics to policy. 

The reading list and final exam questions for the same course offered in the Spring term of 1960 has been posted later. The reading list didn’t change at all between the two years, but I have provided links to most of the readings in the later post as well as the new exam questions.

__________________

Course Enrollment

[Economics] 111a. Normative Aspects of Economic Policy. Professor Bergson. Half course. (Spring)

Total, 21: 1 Graduate, 8 Seniors, 4 Juniors, 2 Sophomores, 3 Radcliffe, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1958-59, p. 70.

__________________

HARVARD UNIVERSITY
Department of Economics

Economics 111a
Normative Aspects of Economic Policy
Spring Term: 1958-59

  1. The concept of economic efficiency.

T. Scitovsky, Welfare and Competition, Chicago, 1951, Chapter I.

  1. Consumers’ goods distribution and labor recruitment: the efficiency of perfect competition: other forms of market organization.

Scitovsky, Chapters II-V, XVI (pp. 338-41), XVIII, XX (pp. 423-427).

A. P. Lerner, Economics of Control, New York, 1946, Chapter 2.

  1. Conditions for efficiency in production.

Scitovsky, Chapters VI-VIII.

Lerner, Chapter 5.

  1. Production efficiency under perfect competition; monopolistic markets

See the readings under topic 3.

Scitovsky, Chapters X, XI, XII, XV, XVI (pp. 341-363), XVII, XX (pp. 428-439).

Lerner, Chapters 6, 7.

  1. The optimum rate of investment.

Scitovsky, Chapter IX (pp. 216-228).

A. C. Pigou, Economics of Welfare, fourth ed., London, 1948, pp. 23-30.

  1. Price policy for a public enterprise.

Lerner, Chapter 15.

I. M. D. Little, A Critique of Welfare Economics, 2nd ed., Oxford, 1957, Chapter XI.

O. Eckstein, Water Resource Development, Cambridge, 1958, pp. 47-70, pp. 81-109.

  1. Socialist economic calculation.

O. Lange, On the Economic Theory of Socialism, Minn., 1938, pp. 55-141.

F. Hayek, “Socialist Calculation,” Economica, May 1940.

A. Bergson, “Socialist Economics,” in H. Ellis, ed., A Survey of Contemporary Economics, Philadelphia, 1948.

M. Dobb, Economic Theory and Socialism, New York, 1955, pp. 41-92.

  1. Economic calculation in underdeveloped countries.

A. Datta, “Welfare versus Growth Economics,” Indian Economic Journal, October 1956.

T. Scitovsky, “Two Concepts of External Economics,” Journal of Political Economy, April 1954.

J. Tinbergen, The Design of Development, Balto., Md., 1958.

  1. The concept of social welfare.

The writings of Bergson and Dobb under topic 7.

Pigou, Economics of Welfare, Chapters I, VIII.

Lerner, Chapter 3.

J. R. Hicks, “Foundations of Welfare Economics,”Economic Journal, December 1939.

Arthur Smithies, “Economic Welfare and Policy,” in A. Smithies et al., Economics and Public Policy, Washington, 1955.

 

Other References
on the Concept of Social Welfare and Optimum Conditions

M. W. Reder, Studies in the Theory of Welfare Economics, New York, 1947.

P. A. Samuelson, Foundations of Economic Analysis, Cambridge, 1947, Chapter VIII.

K. Boulding, Welfare Economics, in B. Haley, A Survey of Contemporary Economics, Homewood, Illinois, 1952.

H. Myint, Theories of Welfare Economics, Cambridge, Mass., 1948.

J. A. Hobson, Work and Wealth, London, 1933.

J. M. Clark, Guideposts in Time of Change, New York, 1949.

J. de V. Graaf, Theoretical Welfare Economics, Cambridge, 1957.

F. M. Bator, The Simple Analytics of Welfare Maximization,” American Economic Review, March 1957.

A. Bergson, “A Reformulation of Welfare Economics,” Quarterly Journal of Economics, February 1938.

P. A. Samuelson, “Evaluation of Real National Income,” Oxford Economic Papers, January 1950.

A. C. Pigou, “Some Aspects of Welfare Economics,” American Economic Review, June 1951.

T. Scitovsky, “The State of Welfare Economics,” American Economic Review,” June 1951.

J. E. Meade, Trade and Welfare, New York, 1955, Part I.

[Note: no additional assignment for the reading period]

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003 (HUC 8522.2.1). Box 7, Folder “Economics, 1958-1959 (1 of 2)”.

__________________

Harvard University
Department of Economics

Economics 111a
Final Examination
June 1, 1959

Answer four and only four of the following six questions.

  1. Explain the “contract curve” that is employed in the analysis of the optimum allocation of different consumers’ goods between households. In what sense does the curve define an economic optimum?
  2. Under perfect competition how is the efficiency of resource allocation affected by:
    1. The levying of a sales tax on the output of a single industry;
    2. A government policy of making capital available to one industry at an interest charge that is less than the market rate.
  3. “As distinct from perfect competition, free competition tends in the long-run to cause the individual firm to make insufficient use of its fixed resources and to operate with excess capacity.” Discuss.
  4. How are the volume of investment and the rate of interest determined in the Competitive Solution of Socialist Planning? What arguments might be advanced for and against the policies and procedures involved?
  5. Explain briefly each of the following:
    1. Variation Cost
    2. Price-offer curve for labor
    3. Lerner’s Rule
  6. “When all is said and done, if there are very heavy overhead costs, public ownership may often make possible rational determination of the scale of output in an industry where this could not be achieved under any of the usual alternatives, such as competition, monopoly or even public rate regulation, if unaccompanied by ownership.” Discuss.

 

Source: Harvard University Archives. Harvard University Final Examinations, 1853-2001 (HUC 7000.28). Box 37. Papers Printed for Final Examinations. History, History of Religions,.., Economics,…, Naval Science, Air Science (June, 1959).

Portrait of Abram Bergson. See Paul A. Samuelson, “Abram Bergson, 1914-2003: A Biographical Memoir”, in National Academy of Sciences, Biographical Memoirs, Volume 84 (Washington, D.C.: 2004).

Categories
Gender Johns Hopkins Suggested Reading Syllabus

Johns Hopkins. Reading List for Economic Development. Irma Adelman, 1963

 

From 1962-66 Irma Adelman was associate professor in the department of political economy at Johns Hopkins University.

A nice biographic memorial was posted at the UC Berkeley Department of Agricultural and Resource Economics website. A copy of her c.v. can also be found in the internet archive Wayback Machine.

________________

THE JOHNS HOPKINS UNIVERSITY
Economic Development 327
Dr. Adelman
Spring 1963

Textbooks

A. Pepelasis, L. Mears and I. Adelman, Economic Development (Harper, 1961).
I. Adelman, Theories of Economic Growth and Development (Stanford University Press, 1961).

Other General Works

W.A. Lewis, The Theory of Economic Growth (1955).

N. S. Buchanan & H. Ellis, Approaches to Economic Development (1955).

H. Leibenstein, Economic Backwardness and Economic Growth (1957).

P.T. Bauer & B.S. Yamey, The Economics of Underdeveloped Countries (1957).

A.N. Agarwala & S.P. Singh, The Economics of Underdevelopment (1958).

G. Meier & R. Baldwin, Economic Development (1957).

[C. P.] Kindleberger, Economic Development (1958).

A.O. Hirschman, The Strategy of Economic Development (1958).

B. Higgins, Economic Development (1959).

W.W. Rostow, The Stages of Economic Growth (1960).

E. Hagen, On the Theory of Social Change (1961).

 

Bibliographies

A. Hazlewood, The Economics of Underdeveloped Areas (2nded.), 1959.

F.N. Trager, “A Selected and Annotated Bibliography on Economic Development 1953-1957,” Economic Development & Cultural Change, July 1958.

[G.] Meier & [R.] Baldwin, Economic Development Appendices.

 

I. Levels and Rates of Growth

[A.] Pepelasis, et al., Ch. 1.

S. Kuznets, “Quantitative Aspects of the Economic Growth of Nations,” Economic Development and Cultural Change (Oct. 1956) pp. 5-51.

Abramovitz, Moses and others, The Allocation of Economic Resources (first article by Abramovitz).

Nutter, C. Warren, “On Measuring Economic Growth,” J.P.E. V. LXV (1957) pp. 50-63 and comment by H.S. Levine ibid (Aug. 1958).

S. Kuznets, “The State as a Unit in the Study of Economic Growth,” Journal of Economic History (1951) pp. 25-41.

S.H. Frankel, The Economic Impact on Underdeveloped Countries (Oxford, 1952) pp. [page numbers not given]

Hoselitz, B.F., “Patterns of Economic Development,” Canadian Journal of Economics and Political Science, V. 21, pp. 416-431.

Rostow, W.W., “The Take-off into Self-sustained Growth, E.J. (1956) pp. 25-48.

 

II. The Production Function

Solow, R.M., “Technical Change and the Aggregate Production Function,” Review of Economics and Statistics XXXIX (Aug. 1957) pp. 312-320.

Abramovitz, M. “Resource and Output Trends in the United States Since 1870,” (NBER Occasional Paper 52). Also published in AER, Papers and Proceedings, XLVI (May 1956) pp. 5-23.

K.J. Arrow, H.B. Chenery, B.S. Minhas and R.M. Solow, “Capital-Labor Substitution and Economic Efficiency,” Rev. Econ. & Stat. Aug. 1961.

[M.] Abramovitz, Review of Denison’s Book—AER Jan. 1963.

 

III. Population and Labor Force

[A.] Pepelasis, et al., Ch. 3.

U.N. Department of Social Affairs (Population Division) The Determinants and Consequences of Population Trends, pp. 5-20, 47-97, 194-209.

[G.] Meier and [R.] Baldwin, pp. 281-291.

C. Long, The Labor Force under Changing Income and Employment, Ch. 1.

E. Hagen, “Population and Economic Growth,” AER, June 1959, pp. 310-327.

G. Goode, “Adding to the Stock of Physical and Human Capital” AERProceedings XLIX (May 1959) pp. 147-155 and Comment by A. Kofka, pp. 172-175.

[H.] Leibenstein, Ch. 10.

I. Adelman, “An Econometric Analysis of Population Growth,” mimeographed.

IV. Reproducible Capital

[A.] Pepelasis, et al., Ch. 4.

S. Kuznets, “International Differences in Capital Formation and Financing,” in Univ. NBER Committee for Economic Research, Capital Formation and Economic Growth, pp. 19-33, 45-51.

S. Kuznets, “Capital Formation Proportions: International Comparisons in Recent Years,” Economic Development and Cultural Change V. VIII, No. 4 Part II, July 1960.

H.S. Houthakker, “An International Comparison of Personal Savings,” Bulletin of the International Statistical Institute, 38, Part 2, (1961).

W.W. Rostow, “The Takeoff into Self-sustained Growth,” E.J. LXVI, March 1956.

A. Cairncross, “The Place of Capital in Economic Progress,” in American Economic Association (L. Dupriez, ed.) Economic Progress.

C. Wolfe and S. Sufrin, Capital Formation and Foreign Investment in Underdeveloped Areas (1955).

 

V. Natural Resources

[A.] Pepelasis, et al, Ch. 2.

Usher, A.P., “The Resource Requirements of an Industrial Economy,” JEH Supplement VII, 1947, pp. 36-46.

Mason, E.S., “The Political Economy of Resource Use,” and discussion by Hartley, Jameson, Adlin in Henry Jarrett (ed.) Perspectives on Conservation, pp. 157-201.

W.S. and E.S. Woytinsky, World Population and Production, Ch. 10.

[G.] Meier & [R.] Baldwin, pp. 521-526.

 

VI. Technology and Entrepreneurship

[A.] Pepelasis et al, Ch. 5.

A. Gerschenkron, “Social Attitudes and Economic Environment in Relation to Entrepreneurship and Technology,” Economic Progress, pp. 307-330, 557-559.

Redlich, F., “Business Leadership: Diverse Origins and Variant Forces,” Economic Development and Cultural Change, V. VI No. 3, April 1958.

Gilfillan, S.C., “Invention as a Factor in Economic History,”Journal of Economic History, V. (Dec. 1945), pp. 66-85.

Schmookler, J., “The Level of Inventive Activity,” Review of Economics & Statistics, V. 36, pp. 183-190.

A.O. Hirschman, Ch. IX.

E. Hagen, Ch. 4- Ch. 12.

 

Source: Johns Hopkins University, Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 6. Box No. 1, Folder: Course Outlines and Reading Lists. c. 1900, c. 1950, 1963-68”.

Categories
Fields M.I.T. Syllabus

M.I.T. International Economics Syllabus for General Exam. Bhagwati and Dornbusch, 1977

 

 

In 1976 there was a graduate-student-faculty discussion concerning a reform of procedures for the general examinations at MIT’s department of economics. I have only been able to locate the field syllabus for international economics of the three fields mentioned in my classmate’s report:

“As a compromise intended to make everyone feel better without rocking the boat, a syllabus will be made up in each of three fields. The syllabus is intended to give some guidance as to what topics might show up on a general. The three fields chosen for the experiment are econometrics, industrial organization, and international trade.”

Source:  Massachusetts Institute of Technology. Institute Archives. MIT Department of Economics Records (AC 394). Box 2; Folder “Gen Exams”. Dick Startz, “Final Report on Generals’ Reform”, November 21, 1976.

__________________________

January 1977
Bhagwati & Dornbusch

INTERNATIONAL ECONOMICS
Syllabus

This syllabus is designed to provide some guidance in regard to the field requirements in international economics. It is not exhaustive but does indicate the broad areas in which the students will be required to be knowledgeable.

The syllabus is divided into the traditional areas of international monetary theory and policy, on the one hand, and the pure theory of trade, on the other. However, most public policy issues, with which the students will be expected to be familiar, require a skillful adaptation of both strands of analysis (as should be obvious from the writings of the best trade economists on policy matters such as the effect of the oil price increases). Thus, the students will be expected to integrate the two sets of insights as appropriate, in addressing themselves to policy questions. In this regard, the students will also be expected to have reasonable familiarity with the central issues of current concern, e.g. SDRs, GATT rules, the New International Economic Order problems, etc. Acquaintance with earlier historical writings, chiefly in the 1930s, should also prove to be rewarding since it emphasizes the integration of policy and theory. Here, the writings of economists such as Haberler, Ohlin, Iversen and Hawtrey are particularly recommended.

A. INTERNATIONAL MONETARY THEORY AND POLICY

International Macroeconomic Issues:

  1. National Income Accounting in the Open Economy. Balance of Payments Accounting. Reform of Balance of Payments Accounting in the US.
  2. Keynesian Macroeconomics in the Open Economy and the Current Account: The foreign trade multiplier, multipliers with repercussions. The transfer problem and income adjustment.
  3. Keynesian macroeconomics under capital mobility: Monetary and fiscal policy. The policy mix. Financing versus adjustment.
  4. Price and output adjustment in a Keynesian framework.
  5. Exchange rates and the current account: Elasticity, absorption and monetary approaches.
  6. Internal and external balance: The role of home goods.
  7. Flexible exchange rates: The income adjustment process. The terms of trade and saving.
  8. Flexible rates and capital mobility: Asset market theories of exchange rate determination. The role of expectations. The transmission of disturbances.
  9. Purchasing power parity.
  10. Portfolio balance theories of macroeconomics in the open economy: Capital flows and the structure of the balance of payments.
  11. The social cost of foreign exchange.
  12. Stabilization policy, the budget and trade policy.

International Financial Issues

  1. International monetary standards and international reserves.
  2. The Euro-dollar market.
  3. Interest arbitrage and forward markets.
  4. Intermediation, the pattern of world payments and lending, and the balance of payments.
  5. International Investment.

B. THE PURE THEORY OF TRADE

  1. General equilibrium analysis of the traditional value-theoretical model of trade theory, involving two primary, non-traded factors producing two traded commodities; theories of comparative advantage: Ricardo and Heckscher-Ohlin; empirical verification; new directions in explaining comparative advantage.
  2. Tariff analysis: effects of tariffs on internal and external terms of trade; equivalence of tariffs and quotas; transfer problem; growth and trade.
  3. Trade and welfare; trade vs. autarky; optimality of free trade; restricted trade vs. autarky; distortions and ranking of policy interventions; measurement of gains and losses from alternative policies; theory of non-economic objectives; preferential tariff reductions and customs union theory.
  4. Extension of the positive and welfare analysis of alternative models: (1) models involving use of imported factors of production; (2) models with non-traded goods; (3) models with putty-clay characteristics.
  5. Comparative advantage and uncertainty; analysis of illicit trade in general equilibrium; project analysis and trade theory.

 

Source: Massachusetts Institute of Technology. Institute Archives. MIT Department of Economics Records (AC 394). Box 2; Folder “Gen Exams”.

Image Source:  Jagdish Bhagwati (left), Rudiger Dornbusch (right). MIT Museum legacy website.

Categories
Harvard Suggested Reading Syllabus

Harvard. Course Outline and Readings for Economics and National Security. Schelling, 1960

 

According to the Annual Report of the President of Harvard for 1959-60 the following economic seminar taught by Professor Thomas C. Schelling during the Spring term had only two graduate students officially registered for the course (and they were probably from the Graduate School of Public Administration). In the following year fourteen students were enrolled in the course.

______________________

ECONOMICS 207
Economics and National Security
Spring 1960

READING ASSIGNMENTS

Note: Reading indented items is optional; but all starred items should be looked at even if not read carefully.

GENERAL BACKGROUND

Washington Center for Foreign Policy Research (Arnold Wolfers, Director). Developments in Military Technology and Their impact on United States Strategy and Foreign Policy, Committee Print, Committee on Foreign Relations, U. S. Senate, Dec. 6, 1959. Part C, “Technological Developments and the Strategic Equation,” Chapters 1-4, pp. 30-85.

National Planning Association, “1970 Without Arms Control”, A Special Committee Report, Planning Pamphlet 104, May 1958.

Davidon, William C., Kalkstein, Marvin I., Hohenemser, Christoph. “Prerequisites for Nuclear Weapons Manufacture”, in National Planning Association, The Nth Country Problem and Arms Control, Planning Pamphlet No. 108, Jan. 1960, pp. 11-28.

Glasstone, Samuel (ed.). Effects of Nuclear Weapons; Dept. of Defense and Atomic Energy Commission, 1957 edition, pp. 18-33, 90-96, 103-111, 196-202, 209-11, 212-15, 237-8, 345-8, 390-429, 446-54, 524-31, 536-43, glossary p. 544 ff.

 

I. EFFICIENCY IN MILITARY DECISIONS

Hitch, Charles J., McKean, Roland. “Defense as an Economic Problem”, “Efficiency in Military Decisions”, mimeograph.

Morse, Philip M., Kimball, George E. Methods of Operations Research, New York, The Technology Press and John Wiley and Sons, Inc. 1951, pp. 1-10, 38-60, 63-67 (scan 67-77), 77-80.

Hitch, Charles J. “Economics and Military Operations Research,”Review of Economics and Statistics, XL, 199-209, Aug. 1958.

Schelling, T.C. “Comment”, Symposium on Economics and Operations Research, Review of Economics and Statistics, XL, 221-224, Aug. 1958.

Hoag, Malcolm. “Some complexities in Military Planning,” World Politics, XI, 553-576, July 59.

Enke, Stephen. “Some Economic Aspects of Fissionable Material,”Quarterly Journal of Economics, LXVIII, 217-232, May 54.

Bowers, Robert D. (Col). “Fundamental Equations of Force Survival,” Air University Quarterly Review, X, 82-92, Spring 58.

Karchere, A. Hoeber, F.P. “Combat Problems, Weapons Systems, and the Theory of Allocation,” JORSA, Nov. 53.

Kahn, H. Mann, I. “Techniques of Systems Analysis,” The RAND Corporation, RM-1829-1, 3 Dec. 58 revised June 57, chapters 1, 2, 3, pp. 1-113.

*   *  *   *   *

Enke, Stephen. “An Economist Looks at Air Force Logistics,” Review of Economics and Statistics, XL, 230-39, Aug. 58.

Fisher, Gene H. “Weapon-System Cost Analysis,” Operations Research. Oct. 56, pp. 558-571.

Mendershausen, Horst. “Economic Problems in Air Force Logistics,” American Economic Review, Sept. 58, 632-648.

*Engel, J.H. “A Verification of Lanchester’s Law,” JORSA, May 54, II.

*Brackney, Howard. “The Dynamics of Military Combat,” Operations Research, VII, 30-44, Jan-Feb. 59.

*Firstman, Sidney I. “A Vulnerability Model for Weapon Sites with Interdependent Elements,” Operations Research, VII, 217-25, Mar-Apr. 59.

Weiss, Herbert K. “Lanchester-Type Models of Warfare,” Proceedings of the First International Conference on Operations Research. ORSA, Baltimore, 1957, pp. 82-99.

*   *  *   *   *

II. COPING WITH AN INTELLIGENT ADVERSARY

Kahn, Herman, Mann, Irwin. “Techniques of Systems Analysis,” Chapter 4, “The Two-Sided War,” pp. 114-131; Chapter 5, “Evaluation and Criticism,” pp. 132-161.

Schelling, T.C. “Assumptions About Enemy Behavior,” Lecture 12 in An Appreciation of Systems Analysis, The RAND Corporation, B-90, 1959. (Mimeograph).

Williams, John D. The Compleat Strategyst, New York, McGraw-Hill Book Co. Inc., 1954. Chapters 1 and 2, pp. 1-85. Rest of book optional; suggest scan several of the problems in remaining chapters.

Alchian, Armen A. “The Meaning of Utility Measurement,” American Economic Review, XLIII, 26-50, Mar. 53.

Luce, R. Duncan, Raiffa, Howard. Games and Decisions(New York, 1957), Chapter 2, pp. 2-17, 19-38; Chapter 4, pp. 56-76, 85-87.

Morse, Philip M., Kimball, George E. Methods of Operations Research, “Measure and Countermeasure,” pp. 94-102; “Theoretical Analysis of Countermeasure Action,” pp. 102-109.

*   *  *   *   *

Haywood, O.G. “Military Decision and Game Theory,” JORSA, Nov. 54.

*Hale, J.K., Wicke, H.H. “An Application of Game Theory to Special Weapons Evaluation,” Naval Research Logistics Quarterly, IV, 347-56.

*Dobbie, James M. “On the Allocation of Effort Among Deterrent Systems,” Operations Research, VII, 335-46, May-June 59.

Isbell, J.R., Marlow, W.H. “Attrition Games,” Naval Research Logistics Quarterly, III, 71-94.

*Blackett, D.W. “Some Blotto Games,”Naval Research Logistics Quarterly, I, 55-60, Mar. 54.

Thompson, S.P., Ziffer, A.J. “The Watchdog and the Burglar,” Naval Research Logistics Quarterly, VI, 165-72, June 59.

Caywood, T.E., Thomas, C.J. “Application of Game Theory in Fighter vs. Bomber Combat,” JORSA, III, Nov. 55.

*Antosiewicz, H.A. “Analytic Study of War Games,” NRLQ, II, 181-208, Sept. 55.

Isaacs, Rufus. “The Problem of Aiming and Evasion,” NRLQ, II, 47-68, May-June 55.

Zachrisson, L.E. “A Tank Duel with Game-Theoretic Implications,” NRLQ, IV, 131-38, June 57.

*   *  *   *   *

III. EXPERIMENT AND SIMULATION

Specht, Robert D. “War Games,” The RAND Corporation, P-1041, March 18, 1957.

Thomas, Clayton J., Deemer, Walter L. “The Role of Operational Gaming in Operations Research,” Operations Research, Feb. 57, 1-27.

*   *  *   *   *

Rauner, R.M. Laboratory Evaluation of Supply and Procurement Policies, The RAND Corporation, Report R-323, July 1958.

Thomas, Clayton L. “The Genesis and Practice of Operational Gaming,” Proceedings of the First International Conference on Operations Research; Operations Research Society of America, Baltimore, 1957. Max Davies, et al., eds. pp. 64-81.

Young, John P. “A Survey of Historical Developments in War Games.” Operations Research Office, The Johns Hopkins University, Staff Paper ORO-SP-98, March, 1959. (Mimeo, 108 pages plus bibliography.)

*   *  *   *   *

IV. THE STRATEGY OF POTENTIAL FORCE

Schelling, T.C. “The Retarded Science of International Strategy,” Bulletin of the Atomic Scientists, March 60.

Brodie, Bernard. Strategy in the Missile Age, Princeton, 1959. Ch. 1, “Introduction,” 3-20; Ch. 6, “Is There a Defense,” 173-222; Ch. 8, “The Anatomy of Deterrence,” 264-304; Ch. 9, “Limited War,” 305-357.

Wohlstetter, Albert. “The Delicate Balance of Terror,” Foreign Affairs, Jan. 59, pp. 211-234.

Sherwin, C.W. “Securing Peace through Military Technology,” Bulletin of the Atomic Scientists, XII, 159-165, May 56.

Schelling, T.C. “Bargaining, Communication, and Limited War,”Journal of Conflict Resolution, I, 19-36, Mar. 57.

Schelling, T.C. “The Strategy of Conflict: Prospectus for a Reorientation of Game Theory,” Journal of Conflict Resolution, II, 203-264, Sept. 58.

Rapoport, Anatol. “Lewis F. Richardson’s Mathematical Theory of War,” Journal of Conflict Resolution, I, 249-99, Sept. 57; Part IV, ‘The Mathematics of Arms Races,’ pp. 275-82.

Washington Center for Foreign Policy Research (Arnold Wolfers, Director), “Developments…” Part C. Chapters 5, 6; pp. 85-97.

Schelling, T.C. “Surprise Attack and Disarmament,” Bulletin of the Atomic Scientists, XV, 413-18, Dec. 59

*   *  *   *   *

Luce, R. Duncan, Raiffa, Howard. Games and Decisions, New York, 1957, Chapters 5, 6, pp. 88-154.

Washington Center for Foreign Policy Research (Arnold Wolfers, Director), “Developments…” etc. Part D, “The Development of Deterrent and Counterdeterrent Strategies,” pp. 98-104. Part E, “The Crisis of Strategic Nuclear Deterrence,” pp. 105-118.

Schelling, T.C. “Randomization of Threats and Promises,” The RAND Corporation, P-1716, June 5, 1959.

Schelling, T.C. “The Threat That Leaves Something to Chance,” Mimeograph, Center for International Affairs, Harvard University (no date).

Schelling, T.C. “The Reciprocal Fear of Surprise Attack,” The RAND Corporation, P-1342, revised May 58.

Rathjens, George. Ch. 4, in Klaus Knorr (ed.), NATO and American Security, Princeton 1959. “NATO Strategy: Total War,” pp. 65-97.

Hoag, Malcolm. “The Place of Limited War in NATO Strategy,” Ch. 5 of Klaus Knorr (ed.), NATO and American Security, Princeton 1959, pp. 98-126.

Szilard, Leo. “Disarmament and the Problem of Peace,” Bulletin of the Atomic Scientists, Vol. II, Oct. 55.

Kaplan, Morton. “Some Problems in the Strategic Analysis of International Politics,” Research Monograph No. 2, Center of International Studies, Princeton, Jan. 1959.

Kaplan, Morton A. “The Strategy of Limited Retaliation,” Policy Memorandum No. 19, Center of International Studies, Princeton, April 1959.

Kaplan, Morton A. “The Calculus of Nuclear Deterrence,” World Politics, XI, 20-43, Oct. 58.

Burns, Arthur Lee. “From Balance to Deterrence: A Theoretical Analysis,” World Politics, IX, 494-529, July 57.

Burns, Arthur Lee. “The Rationale of Catalytic War,” Research Monograph No. 3, Princeton Center of International Studies, Apr. 2, 59.

Rapoport, Anatol. “Lewis F. Richardson’s Mathematical Theory of War,” Journal of Conflict Resolution, I, 249-299, Sept. 57.

*   *  *   *   *

V. ECONOMICS OF DISASTER

Hirschleifer, Jack. “Some Thoughts on the Social Structure After a Bombing Disaster,” World Politics, VIII, 206-227, Jan. 56.

Tiryakian, Edward A. “Aftermath of a Thermonuclear Attack on the United States,” Social Problems, VI, 291-303, Spring 1959.

Enke, Stephen. “Controlling Consumers in Future Wars,” Quarterly Journal of Economics, LXXII, 558-573, Nov. 58

*   *  *   *   *

Bear, Donald V.T., Clark, Paul G. “Which Industries Would Be Most Important in a Postwar U.S. Economy?” (Mimeograph).

Hirschleifer, J. “War Damage Insurance, “Review of Economics and Statistics, May 53.

*   *  *   *   *

VI. EXTREMES AND INTANGIBLES IN SOCIAL CHOICE

Hitch, Charles J., McKean, Roland N. “Incommensurables, Uncertainty, and the Enemy,” (Mimeograph, 39 pages).

Kahn, Herman. “How Many Can Be Saved?” Bulletin of the Atomic Scientists, XV, 30-34, Jan. 59.

Joint Committee on Atomic Energy, “Biological and Environmental Effects of Nuclear War,” Summary Analysis of Hearings, June 22-26, 1959.

Committee on Government Operations, “Atomic Shelter Programs,” Thirty-fourth report of the committee, Aug. 12, 1958.

Deer, James W. “Whatever Happened to Civil Defense,” Bulletin of the Atomic Scientists, XV, 266-7 June 59.

Lapp, Ralph. “Local Fallout Radioactivity,” “Fallout and Home Defense,” Bulletin of the Atomic Scientists, XV, 181-86, 187-91, May 59.

Morgenstern, Oskar. The Question of National Defense. New York 1959, Ch. 5, “Attrition, Shelters and Recovery,” 104-133.

*   *  *   *   *

Schubert, Jack, Lapp, Ralph. Radiation: What It Is and How It Affects You, New York, 1957. Ch. 3, 4, 11, 12.

Bulletin of the Atomic Scientists, Radiation and Man. Special Issue, XIV, 1-64, Jan. 58.

The RAND Corporation, Report on a Study of Non-Military Defense, Report R-322-RC, July 1, 1958. 48 pages.

Ramsey, F. A., Jr. “Damage Assessment Systems and their Relationship to Post-Nuclear-Attack Damage and Recovery,” Naval Research Logistics Quarterly, V, 199-219, Sept. 58.

*   *  *   *   *

VII. DESIGN OF EFFICIENT MILITARY INSTITUTIONS

Smithies, Arthur. The Budgetary Process in the United States. New York 1955. Ch. 12: The Defense Budget: Economy and Efficiency in the Defense Program, pp. 278-325.

Lindblom, C.E. “Decision Making in Taxation and Expenditure,” Mimeograph, National Bureau of Economic Research: Conference on Public Finance, April 1959.

Enthoven, Alain, Rowen, Henry. “Defense Planning and Organization,” The RAND Corporation, Paper P-1640, March 17, 59, revised July 28, 59.

Knorr, Klaus. The War Potential of Nations. Princeton, 1956. Ch. 1: “War Potential in the Nuclear Age,” pp. 3-15; Ch. 6: “Wartime Administration,” pp. 99-118; Ch. 7: “The Allocation of Resources,” pp. 119-141.

Schelling, T.C. International Economics, Chapter 30, “Economic Warfare and Strategic Trade Controls,” pp. 487-511.

*   *  *   *   *

Livingston, J. Sterling. “Decision-Making in Weapons Development,” Harvard Business Review, Jan-Feb. 58.

Klein, Burton H. “A Radical Proposal for R and D,” Fortune, May 58, 112-.

Schelling, T. C. Internaitonal Economics. Ch. 31, “Trade Controls and National Security,” 511-532.

Breckner, Norman. “Government Efficiency and the Military ‘Buyer-Seller’ Device,” The RAND Corporation, P-1744, 8 July 1959.

Enthoven, Alain. “Supply and Demand and Military Pay,” RAND P-1186, 30 Sept. 1957.

Cordiner, Ralph. “A Modern Concept of Manpower Management and Compensation for Personnel of the Uniformed Service,” (The Cordiner Report), Defense Advisory Committee on Professional and Technical Compensation, U.S. Government Printing Office, 1957.

 

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1). Box 7, Folder: “Economics, 1959-1960”.

Image Source: From an internet page of the Rio Theatre in Vancouver.

 

Categories
Exam Questions Harvard Suggested Reading Syllabus

Harvard. Outline and final exam. Economic and Political Ideas, Taylor. 2nd term, 1947-48

 

 

 

 

 

 

Overton H. Taylor described his book, A History of Economic Thought: Social Ideals and Economic Theories from Quesnay to Keynes (McGraw-Hill, 1960), as “an outgrowth from, or reduction to book form of, a part of the course of lectures, covering the same ground, which I have given annually for many years at Harvard University.”  This post provides the undergraduate course outline and final examination for the second half of his course that began with mercantilism and ended with New Deal liberalism and Keynesian economics.

Material from the first half of the course for the immediately following academic year (covering much the same material but stopping at the end of the 19th century) has been posted earlier:

Syllabus. Economics 115 (Fall Term, 1948-49). Economics and Political Ideas in Modern Times.

Final Exam. Economics 115 (Fall Term, 1948-49). Economics and Political Ideas in Modern Times

A much earlier version of the material for a one semester course has likewise been posted:

Syllabus. Economics 1b (Spring Term, 1940-41). The Intellectual Background of Economic Thought.

Final Exam. Economics 1b (Spring Term, 1940-41). The Intellectual Background of Economic Thought.

Greater emphasis on the economic theory was given in his graduate course:

Syllabus. Economics 205a (Fall Term, 1948-49). Main Currents of Thought in Economics and Related Studies over Recent Centuries.

In the Preface to his 1960 book Taylor described his purpose in writing as follows:

Perhaps I have a desire to be a ‘missionary’ in both directions–to convert as many noneconomist or lay readers as I can into interested students of economic theory and its history, and to convert more fellow-economists into interested students, also, of the diverse, general views or perspectives on all human affairs which formerly concerned all philosophical political economists.

 

________________________

 

Course Enrollment

[Economics] 15a. Dr. Taylor.—Economics and Political Ideas in Modern Times (F).

Total 100: 5 Graduate, 44 Seniors, 40 Juniors, 8 Sophomores, 1 Radcliffe, 2 Other.

 

[Economics] 15b. Dr. Taylor.—Economics and Political Ideas in Modern Times (Sp).

Total 33: 2 Graduates, 18 Seniors, 8 Juniors, 1 Sophomore, 2 Radcliffe, 2 Public Administration.

 

Source: 15a, Fall term ; 15b, Spring term: Harvard University. Report of the President of Harvard College, 1947-48, pp. 68, 89.

________________________

Economics 15b (115)
Spring Term, 1948
Outline

I. February 5 — 14. 17th Century Political Absolutism and Mercantilism. Liberalism.

Reading due February 14:

(1) Hobbes Leviathan, Chs. 1-6, incl.; 13, 14, 15, 17, 18, 21, 24;
(2) Locke, Civil Government II, Chs. 2, 3, 5, and 7-12, Incl.; and
(3) Gray, Economic Doctrines, Chs. 1-3.

Lectures

Th., Feb. 5, Introductory lecture about the course.

Sat, Feb. 7, Western civilization in the 17th Century, and the philosophy and political theory of Hobbes.

Tu., Feb. 10, Mercantilism and its economic theory.

Th., Feb. 12, 18th Century liberalism vs. political absolutism and mercantilism; and Locke’s theory of the free society.

Discussion

Sat., Feb. 14, Class discussion of the reading in Hobbes, Locke, and Gray.

II. February 17 — 28. 1705-1850. Foundations of the Classical, Liberal Theory of Political Economy.

Reading due February 28:

(1) Adam Smith, Theory of Moral Sentiments: Part I, sec. I, and Part II, secs. I, II or (1a) Selby-Bigge, British Moralists, Selection from A. Smith, Moral Sentiments;
(2) Adam Smith, Wealth of Nations, Book I, 1-7, incl.

Lectures

Tu., Feb. 17 Newton, Locke, and the 18th century’s vision of “the natural order.”

Th., Feb. 19 The philosophy and economic theory of the Physiocrats.

Sat., Feb. 21 Adam Smith’s philosophy, theory of morals and law, and economic theory.

Tu., Feb. 24 Hume and Bentham vs. natural law. Utilitarian liberalism.

Th., Feb. 26 Malthus and Ricardo. The classical theory of political economy.

Discussion

Sat., Feb. 28 Class discussion of the Adam Smith reading.

III. March 2 — 13. Early 19th Romantic and Positivistic Attacks and Alternatives.

Reading due March 13

(1) Spann, History of Economics, Chs. [no chapters given, but would appear to be Spann’s Chapter 8A of the 1930 translation “Types of Economic Theory”]
(2) Comte, Positive Philosophy, pp.[no pages given, but note Introd. Ch. 1; Book VI, 1, 2 were assigned by Taylor in his graduate course Econ 205a]
(3) J. S. Mill, Essays, Utilitarianism, and Liberty.

Lectures

Tu., March 2, The romantic movement and the anti-liberal reaction.

Th., March 4, Carlyle and Ruskin vs. the economists and utilitarians.

Sat., March 6, The romantic reaction in Germany, and types of political and economic thought it produced there.

Tu., March 9, August Comte’s philosophy, and critique of the classical, liberal economic theory.

Th., March 11, Early socialism; and J. S. Mill’s attempted synthesis.

Discussion

Sat., March 13, Class discussion of the Spann, Comte, and Mill reading.

IV. March 16 — 27. Marxism.

Reading due March 27:

Burns, Handbook of Marxism, Chs. [no chapters given here, but note Chs. 1, 13, 14, 22, 26, 29, 30 were assigned by Taylor in his graduate course Econ 205a]

Lectures

Tu., March 16, Antecedents and elements of Marxism: “utopian” socialism, Hegel’s philosophy of history, and Ricardo’s economic theory.

Th., March 18, Marx: theory of history.

Sat., March 20, Marx: economic theory of capitalism: value, wages, and profits.

Tu., March 23, Marx: theory of capitalism’s destined evolution and self-destruction.

Th., March 25, Marx: theory of the revolution and the new society.

Discussion

Sat., March 27, Discussion of the Marx reading.

March 28—April 4, Spring Recess

V. April 5 — 17. 1870-1914. Victorian Conservative Liberalism and Neo-Classical Economics.

Reading due April 17:

(1)  C. Brinton, English Political Thought in the 19th Century, Ch. III, Secs. 1, 2; IV, 1, 2, 3, 4; and
(2) A. Marshall, Principles of Economics, Book I, Chs. 1-3; III; IV, Chs. 1-3 and 8-13; and V, Chs. 1-5.

Lectures

Tu., April 5, The epoch and ideology of Victorian conservative liberalism.

Th., April 7, The renaissance and new ideas of liberal economic theory in this epoch. The discoverers of “marginal utility”—Jevons, the Austrians, Walras, and Marshall.

Sat., April 9, The market mechanism of the free economy and its equilibrium.

Tu., April 13, Marginal productivity and incomes; Clark and Carver.

Th., April 15, Alfred Marshall.

Discussion

Sat., April 17, Discussion of the political ideas of Brinton’s Victorians, and Marshall’s economics.

VI. April 20 — May 1. Present Day Ideologies and Economic Theory.

Reading due May 1:

(1) Sabine, History of Political Theory, Chs. 28 to end of book, omit 31;
(2) John Dewey, Liberalism and Social Action; and
(3) Beveridge, Full Employment in a Free Society, Part II, Sec. 2, and III through Sec. 5.

Lectures

Tu., April 20, Russian Communism versus Democracy and Liberal Capitalism or Liberal Socialism.

Th., April 22, Ideas of and about Fascism.

Sat., April 24, From 19th century to present day Liberalism.—continuity and contrast. The New Deal and the American tradition.

Tu., April 27, The economic theory of monopolistic competition, and liberal policy.

Th., April 29, “Keynesian” economic theory, and liberal policy.

Discussion

Sat, May 1, Discussion of the Sabine, Dewey, and Beveridge reading.

*  *  *  *  *  *  *  *  *

Reading Period
May 3—15, 1948

Economics 15b: Read one of the following:

Schumpeter: Capitalism, Socialism, and Democracy, Parts 1, 2, and 4.

Lionel Robbins: Nature and Significance of Economics.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists I Economics, 1895-2003. Box 4, Folder “Economics, 1947-1948 (1 of 2)”

________________________

1947-48
HARVARD UNIVERSITY
ECONOMICS 15b
[Final examination, May 1948]

Answer in all five questions, including 7a or 7b; and make one of your answers a one hour essay, so marked in your blue book.

  1. “Although the classical economists were free market liberals, the picture presented in their economic theory of the ‘natural’ working of the free market economy was not a picture of utopian perfection. They acknowledged a number of real flaws in the system. Then Marx, professing to build on but actually distorting the classical theory, exaggerated those flaws into evils held to be destined to destroy the system. And later the neo-classical economists, in opposition to Marx and in the effort to buttress laissez-faire more thoroughly, revised the old classical theory into one which appeared to support an unqualified optimism.”
    Explain and discuss each part of the statement. What flaws did old classical theory find in the system? What graver ones did Marx impute to it, and what were the chief similarities and differences between his and Ricardo’s doctrines in this connection? What novel concepts and doctrines in neo-classical theory contributed to its purer optimism; and how did they do so, and how legitimately?
  2. “The trouble with the free enterprise or free market economic system is that its long-run effects on a society’s culture and internally prevailing human attitudes, eventually destroy the kind of milieu which alone can enable this economic system to serve the general welfare, and survive. Where and as long as there is a real community, held together by a real moral consensus holding the competition of private interests within the bounds of mutual fair play, the free market system can develop and function well. But in time the growth of competitive, acquisitive ambitions and skills, in the mass of individuals and private groups, breaks through and dissolves the moral consensus and the bonds uniting the community. Competition then becomes warfare and anarchy, and coercive public controls must be developed to take the place, if possible, of the agreement in self-control by all severally, which has broken down.”
    What truth if any do you think is contained in this argument? What might be cited as some times of historical and contemporary evidence at least appearing to support it, and help convincingly in your judgment can it be thus supported? How might an economic theorist still thoroughly devoted to free-market liberalism, reply to the argument, and how if at all would you criticize his (best) reply to it?
  3. “The theory of monopolistic competition proves that, instead of harmonizing all private interests with the public interests, most actual business competition has characteristics which make the maximizing of private gains decidedly injurious to the economic welfare of society.”
    Explain and discuss. What characteristics of “most actual business competition” are referred to? Explain the proof of their socially undesirable consequences, and discuss any criticisms or limitations of this proof that you think may be valid. Do you think “decidedly injurious” is an overstatement? Why or why not?
  4. “Classical economics denied that there ever could be any deficiency of total demand for a full-employment output of the economy. Marx saw inevitable, chronic deficiency of total demand as one of the ‘internal contradictions’ bound eventually to destroy private capitalism. Keynes agreed with Marx about the deficiency, but, having a different theory of its causes, thinks it can be remedied by a simple type of governmental action within the capitalist framework.”
    Explain and discuss. How did the classical view support its denial of the possibility of deficient demand? Why is demand deficient according to Marx? Wherein does Keynes agree, and disagree with Marx? On what assumptions may the Keynesian remedy be held come consistent with retention of private capitalism; on what other assumptions, inconsistent with that?
  5. Describe and discuss all the main, admitted, and (in your opinion) likely ultimate, curtailment of individual freedoms in the Beveridge program for assuring “full employment in a free society.” Would you fear an eventual loss of virtually all freedom – “totalitarian” outcome – if the whole program were adopted in this country? Why or why not?
  6. Discuss the common and the divergent elements of the old classical liberalism, the liberalism of the Roosevelt New Deal, and the outlook of the average present day American exponent of “free enterprise.” As between our “New Dealers” and conservative “free enterprisers,” which group more nearly represents the main essentials of the older liberalism, in your opinion? Explain and defend your opinion on the last point carefully.
  7. (a) If you read Schumpeter in the reading period, explain and discuss his theory of the ways in which capitalism is preparing its own demise and the way for socialism.
    (b) If you read Robbins, state in your own words, and discuss critically, his definition of what economic science deals with and accomplishes.

 

Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001, Box 15, Papers Printed For Final Examinations: History, History of Religions,…,Economics,…Military Science, Naval Science. May 1948.

Image source: O. H. Taylor in the Harvard Class Album, 1942.

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

M.I.T. National Income and Employment Theory. Readings and Final Exam. Domar, 1960-61

 

 

For this post I have transcribed Evsey Domar’s graduate core macroeconomics course outline/reading list along with the questions for the final examination from the first term of the 1960-61 academic year at M.I.T. Students from both course XIV (economics) and XV (management) took this course.

Note: Evsey Domar distributed a questionnaire to the students to obtain feedback on his course.  The next post provides the results from that survey. It is fairly apparent that Domar did not cover the last topic on the course reading list (economic growth).

Final exam grade distribution (50 exams)

A 16%
A- 12%
B+ 10%
B 20%
B- 14%
C 18%
D 8%
F 2%

Fun Fact. Among the students enrolled in the course and who took the final examination: Michael D. Intriligator, Peter A. Diamond, Ann Fetter Friedlaender, and Stephen Goldfeld.

The much expanded course reading list/bibliography and  both the midterm and final examinations from the 1965-66 academic year have been posted earlier.

_________________________

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

THEORY OF NATIONAL INCOME AND EMPLOYMENT
14.451 Reading List
E. D. Domar Fall Term 1960-61

The purpose of this list is to suggest to the student the sources in which the more important topics of the course are discussed from several points of view. His objectives should be the understanding of these topics and not the memorization of opinions and details.

Items marked with an * are strongly recommended. (I don’t like to use the expression “required” in a graduate reading list.)

No term paper will be required, but each student is expected, in addition to his general reading, to choose one of the eight major divisions of the course (except that Part VIII should not be taken without prior consultation with the instructor) as a field of concentration. A part of the final examination will be designed to test his broader knowledge of the chosen field.

 

I. NATIONAL INCOME AND RELATED ITEMS

*Kuznets, S., National Income and Its Composition, (New York, 1941), particularly Vol. 1, Chapter 1

*Jaszi, G., “The Statistical Foundations of the GNP,” Review of Economics and Statistics, Vol. 38, 1956)
Ruggles, R. and N., National Income Accounts and Income Analysis (New York, 1956)

*U.S. Department of Commerce, U. S. Income and Output, A Supplement to the Survey of Current Business, 1958

*National Bureau of Economic Research, The National Economic Accounts of the United States, Review, Appraisal and Recommendations, General Series 64, Washington, 1958

Ruggles, “The U.S. National Accounts,” American Economic Review, March, 1959
Organization for European Economic Co-operation, A Standardised System of National Accounts, Paris, 1952

Gilbert, M. and I. B. Kravis, An International Comparison of National Products and the Purchasing Power of Currencies, A Study of the United States, the United Kingdom, France, Germany and Italy, Organization for European Economic Cooperation, Paris, 1954

Nove, A., “The United States National Income A La Russe,” Economica, Vol. 23, 1956

Gilbert, M., Comparative National Products and Price Levels, A Study of Western Europe and the United States, Organization of European Economic Cooperation, Paris, 1958

*Leontief, W. W., “Output, Employment, Consumption and Investment,” Quarterly Journal of Economics, Feb., 1944

Leontief, W. W. The Structure of American Economy (New York, 1951)

*Dorfman, R., “The Nature and Significance of Input-Output,” Review of Economics and Statistics, Vol. 36, 1954

Stewart, I. G., “The Practical Uses of Input-Output Analysis,” Scottish Journal of Political Economy, Vol. 5, (Feb. 1958)

Dosser, D. and A. T. Peacock, “Input-Output Analysis in an Under-Developed Country: A Case Study,” Review of Economic Studies, Vol. 25, Oct. 1957

*Sigel, S. J., “A Comparison of the Structures of Three Social Accounting Systems,” National Bureau of Economic Research, Input-Output Analysis: An Appraisal, The Conference on Research in Income and Wealth, Studies in Income and Wealth, Vol. 18, pp. 253-89

Board of Governors of the Federal Reserve System, Flow of Funds in the United States 1939-53 (Washington, D. C., 1955)

 

II. GENERAL AGGREGATIVE SYSTEM

Students without prior training in this field are advised to study D. Dillard, The Economics of John Maynard Keynes (New York, 1948), A. H. Hansen, A Guide to Keynes (New York, 1953), or K. Kurihara, Introduction to Keynesian Dynamics (New York, 1956).

*Keynes, J. M., The General Theory of Employment, Interest and Money (New York, 1936)

*American Economic Association, Readings in Business Cycle Theory (Philadelphia, 1944), Essays 5, 7

Harris, S. E., The New Economics (New York, 1947), essays 8-19, 31-33, 38-46.

*Lerner, A. P., Economics of Control (New York, 1944), chapters 21-23, 25

*Kurihara, K. K., Post Keynesian Economics (New Brunswick, N. J., 1954), essays 1, 11*

*American Economic Association, Readings in the Theory of Income Distribution (Philadelphia, 1946), essay 24

Klein, L. R., The Keynesian Revolution, (New York, 1947), chapters 3-5.

Ellis, H. S., A Survey of Contemporary Economics (Philadelphia, 1948), Vol. 1, chapter 2

*Income, Employment and Public Policy, Essays in Honor of Alvin H. Hansen (New York, 1948), essay I

*Burns, A. F., “Economic Research and the Keynesian Thinking of Our Times,” in his The Frontiers of Economic Knowledge, (Princeton, 1954), or in the Twenty-Sixth Annual Report of the National Bureau of Economic Research, Inc. (New York, 1946). See also the discussion by Hansen and Burns in the Review of Economic Statistics, November, 1947

Dillard, D., “The Influence of Keynesian Economics on Contemporary Thought,” American Economic Review, Papers and Proceedings, 1957

Patinkin, D., Money, Interest, and Prices (Evanston, Ill., 1956).

 

III. THEORY OF INTEREST

Readings in the Theory of Income Distribution, essays 22, 23, 26

*Hicks, J. R., Value and Capital (Oxford, 1957), Chapters 11-12

Readings in Monetary Theory, essays 6, 11, 15

*Gurley, J. G., and E. S. Shaw, “Financial Aspects of Economic Development,” American Economic Review, September, 1955)

Hart, A. G., Money, Debt and Economic Activity, Second Ed., (New York, 1953)

Patinkin, D., “Liquidity Preference and Loanable Funds: Stock and Flow Analysis,” Economica, Vol. 25, November, 1958

Patinkin, D., Money, Interest, and Prices (Evanston, Ill., 1956).

*Lydall, H., “Income, Assets, and the Demand for Money,” Review of Economics and Statistics, Vol. 40, Feb. 1958

Lutz, F. A., “The Interest Rate and Investment in a Dynamic Economy,” American Economic Review, Dec. 1945

See also Section VI — INVESTMENT DECISIONS

 

IV. CONSUMPTION FUNCTION

*Duesenberry, J. S., Income, Saving, and the Theory of Consumer Behavior (Cambridge, Massachusetts, 1949)

Haley, B. F., A Survey of Contemporary Economics (Homewood, Illinois, 1952), Vol. II, essay 2

Davis, T. E., “The Consumption Function as a Tool of Prediction,” The Review of Economics and Statistics, August 1952

Heller, W. W., Boddy, F. M., and C. L. Nelson, Savings in the Modern Economy, a Symposium (Minneapolis, 1953)

*Friend, I., and S. Schor, “Who Saves?,” The Review of Economics and Statistics, Vol. 41, May, 1959, Part 2

*Friend, I., and I. B. Kravis, “Entrepreneurial Income, Saving and Investment,”American Economic Review, June, 1957, pp. 269-301

Zellner, Arnold, “The Short-Run Consumption Function,” Econometrica, (Oct. 1957

*Ferber, R., “The Accuracy of Aggregate Savings Functions in the Post-War Years,” Review of Economics and Statistics, Vol. 37, May, 1955

*Tobin, J., “On the Predictive Value of Consumer Intentions and Attitudes,” The Review of Economics and Statistics, Vol. 41, Feb., 1959

Dennison, E. F., “A Note on Private Saving,” Review of Economics and Statistics, August, 1958
Post-Keynesian Economics, essay 15

Friedman, M., A Theory of the Consumption Function (Princeton, N. J., 1957)

Friedman, M., and G. Becker, “A Statistical Illusion in Judging Keynesian Models,” Journal of Political Economy, Vol. 65, Feb., 1957

Klein, L. R., “The Friedman-Becker Illusion,” Journal of Political Economy, Vol. 66, Dec., 1958

Morgan, J. N., Consumer Economics (New York, 1955)

Katona, G., and E. Mueller, Consumer Expectations 1953-56 (Ann Arbor, Michigan, 1956)

Klein, L. R., ed., Contributions of Survey Methods to Economics (New York, 1954)

 

V. MULTIPLIER AND ACCELERATOR

*Kahn, R. F., “The Relation of Home Investment to Unemployment,” Economic Journal, 1931. Republished in Hansen and Clemence, Readings in Business Cycles and National Income (New York, 1953), essay 15

*Readings in Business Cycle Theory, essays 11-12

*Haavelmo, T., “Multiplier Effects of a Balanced Budget,” Econometrica, 1945; reprinted in Readings in Fiscal Policy, pp. 335-343

*Salant, William A., “Taxes, Income Determination, and the Balanced Budget Theorem,” The Review of Economics and Statistics, May, 1957

Peston, M. H., “Generalizing the Balanced Budget Multiplier,” and “Comment” by W. A. Salant, The Review of Economics and Statistics, August, 1958

Bowen, W. G., “The Balanced-Budget Multiplier: A Suggestion for a More General Formulation,” The Review of Economics and Statistics, May, 1957

*Kuznets, S., “Relation Between Capital Goods and Finished Products in the Business Cycle,” in Economic Essays in Honor of Wesley Clair Mitchell, (New York, 1935)

*Knox, A. D. “The Acceleration Principle and the Theory of Investment: A Survey,” Economica, Vol. 19, 1952

*Tsiang, S. C., “Accelerator, Theory of the Firm, and the Business Cycle,” Quarterly Journal of Economics, Vol. 65, 1951

*Tinbergen, “Statistical Evidence on the Acceleration Principle,” Economica, Vol. 5, 1938

Harrod, R. F., Towards a Dynamic Economics (London, 1948)

Hicks, J. R., A Contribution to the Theory of the Trade Cycle (Oxford, 1950)

Goodwin, R. M., “Problems of Trend and Cycle,” Yorkshire Bulletin, Vol. 5, August, 1953

Ott, A. E., “The Relation Between the Accelerator and the Capital Output Ratio,” Review of Economic Studies, Vol. 25, June, 1958

Minsky, H., “Monetary Systems and Accelerator Models,” American Economic Review, Vol. 47, 1957

See also VI — INVESTMENT DECISIONS.

 

VI. INVESTMENT DECISIONS

Lutz, F. A., and V., The Theory of Investment of the Firm (Princeton, 1951)

*Heller, W. W., “The Anatomy of Investment Decisions,” Harvard Business Review, March, 1951, pp. 95-103

*Pitchford, J. D. and A. J. Hagger, “A Note on the Marginal Efficiency of Capital,” The Economic Journal, Vol. 48, 1958

*Meade, J. E., and P. W. S. Andrews, “Summary of Replies to Questions on Effects of Interest Rates,” and “Further Inquiry into the Effects of Rates of Interest,” Oxford Economic Papers, No. 1, 1938 and No. 3, 1940

*Ebersole, J. F., “The Influence of Interest Rates,” Harvard Business Review, Vol. 17, 1938, pp. 35-39

*Henderson, H. D., “The Significance of the Rate of Interest,” Oxford Economic Papers, October, 1938, pp. 1-13

Andrews, P. W. S., “Further Inquiry into the Effects of Rates of Interest,” Oxford Economic Papers, Feb., 1940, pp. 32-73

Sayers, R. S., “Business Men and the Terms of Borrowing,” Oxford Economic Papers, Feb., 1940, pp. 23-31

*White, W. H., “Interest Inelasticity of Investment Demand—The Case from Business Attitude Surveys Re-examined,” American Economic Review, Sept. 1956, pp. 565-587

Brockie, M. D., and A. L. Gray, “The Marginal Efficiency of Capital and Investment Programming,” Economic Journal, Vol. 46, December, 1956

White, W. H., “The Rate of Interest, the Marginal Efficiency of Capital, and Investment Programming,” Economic Journal, Vol. 48, March, 1958

Grey, A. L., and M. D. Brockie, “The Rate of Interest, Marginal Efficiency of Capital and Net Investment Programming: A Rejoinder,” Economic Journal, June, 1959

Spiro, A., “Empirical Research and the Rate of Interest,” Review of Economics and Statistics, Vol. 40 (February, 1958).

*Duesenberry, J., Business Cycles and Economic Growth (New York, 1958), Chapters 1-8

Meyer, John R., and Edwin Kuh, The Investment Decision (Cambridge, Mass., 1957)

Cunningham, N. J., “Business Investment and the Marginal Cost of Funds,” Metroeconomica, Vol. 10, August, 1958

Cunningham, N. J., “Business Investment and the Marginal Cost of Funds,” Part II, Metroeconomica, Dec., 1958

Wilson, T., “Cyclical and Autonomous Inducements to Invest,” Oxford Economic Papers, Vol. 5, 1953

Hirschleifer, J., “On the Theory of Optimal Investment Decision,” The Journal of Political Economy, Vol. 66, Aug., 1958

Lydall, H. F., “The Impact of the Credit Squeeze on Small and Medium Sized Manufacturing Firms,” Economic Journal, Vol. 47, Sept., 1957

*Penrose, E., “Limits to the Growth and Size of Firms,” American Economic Review Papers and Proceedings, May 1955, pp. 531-43

Friend, I., and J. Bronfenbrenner, “Business Investment Programs and Their Realization,” Survey of Current Business, December, 1950

*Foss, M. F., and V. Natrella, “Ten Years’ Experience with Business Investment Anticipations,” Survey of Current Business, January, 1957

*Foss, M. F., and V. Natrella, “Investment Plans and Realizations—Reasons for Differences in Individual Cases,” Survey of Current Business, June, 1957

See also III—THEORY OF INTEREST and V—MULTIPLIER AND ACCELERATOR

 

VII. PRICE FLEXIBILITY AND EMPLOYMENT

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

*Lange, O., Price Flexibility and Employment (Bloomington, Indiana, 1944)

*Friedman, M., “Lange on Price Flexibility and Employment,” American Economic Review, Sept., 1946

Readings in Monetary Theory, Essay 13

Schelling, T. C., “The Dynamics of Price Flexibility,” American Economic Review, Sept. 1949

Patinkin, D., Money, Interest, and Prices (Evanston, Illinois, 1956)

Hicks, J. R., “A Rehabilitation of ‘Classical Economics’,” Economic Journal, Vol. 47, June, 1957

*Power, J. H., “Price Expectations, Money Illusion and the Real Balance Effect,” Journal of Political Economy, Vol. 67, April, 1959

*Mayer, T., “The Empirical Significance of the Real Balance Effect,” Quarterly Journal of Economics, Vol. 73, May, 1959

 

VIII. THEORY OF GROWTH

*Domar, E. D., Essays in the Theory of Economic Growth (New York, 1957), Foreword, Essays I, III-V

Fellner, W., Trends and Cycles I Economic Activity, (New York,1956)

Hansen, A. H., Fiscal Policy and Business Cycles (New York, 1941)

*Harrod, R. F., Towards a Dynamic Economics (London, 1948), Part III

Leontief, W. W., Studies in the Structure of the American Economy, (New York, 1953)

Robinson, J., The Accumulation of Capital, (London, 1956)

*Kuznets, Simon, “Towards a Theory of Economic Growth,” R. Leckachman, ed., National Policy for Economic Welfare at Home and Abroad, (New York, 1955)

*Solow, R. M., “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics, Feb. 1956, pp. 65-94

*Solow, R. M., “Technical Change and the Aggregate Production Function,” Review of Economics and Statistics, August, 1957, pp. 312-320

 

Source:  Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Evsey D. Domar, Box 15, Folder “Macroeconomics, Old Reading Lists”.

 

_________________________

Economics 14-451
E. D. Domar

FINAL EXAMINATION—Three Hours
January 24, 1961

Please use a separate book for each question.

 

Part I—One Hour

Write an essay in the field of your concentration as instructed in class. Please be specific.

 

Part II—Two Hours

Answer the THREE questions which are furthest removed from the topic discussed in Part I. They carry equal weights.

  1. “Thus the rate of interest is what it is because it is expected to become other than it is: if it is not expected to become other than it is, there is nothing left to tell us what it is…”
    1. Can you identify the author of this famous statement?
    2. Can you recognize whose interest theory he referred to?
    3. Explain and evaluate that theory critically.
    4. Present your own (original or otherwise) theory of interest.
  2. Write an essay on the subject of “The treatment of intermediate products in:
    1. National Income and Product Accounting
    2. Input-output method
    3. Flow-of Funds system
    4. Federal reserve Index of Industrial Production.” (Don’t panic if you can’t do (d), but if you can you’ll get a premium.
      Hint: there is more in this question, and particularly in part (a) than meets the eye. Consider the whole rationale of the methods.
  3. Write a comprehensive essay on the subject of “The Rationale of Investment Decisions.” Consider as many cases as you can, but in each case specify clearly the assumptions made. (Don’t forget to include an undeveloped country case.) Can you generalize?
  4. Write a comprehensive and critical essay on the subject of “Price Flexibility and Employment.” Survey the relevant literature beginning with Keynes’ General Theory, and indicate clearly the nature of the assumptions, the definition of the concepts (hint: money), and the essence of the conclusions. What practical recommendations follow from your discussion?

 

Source: Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Evsey D. Domar, Box 16, Folder “Macroeconomics, Final Exams”.

Image Source: Evsey D. Domar photo at the M.I.T. Museum website.

Categories
Economic History Suggested Reading Syllabus Undergraduate Yale

Yale. Undergraduate Economic History of Europe. Cohen, 1972

 

Today’s post is the course outline with readings for the undergraduate course on the economic history of Europe since the Industrial Revolution that I took at Yale during the Spring semester of my junior year (1972). The course was taught by assistant professor Jon S. Cohen. 

From the perspective of today it is hard to imagine the sheer abundance of courses in economic history offered at that time. I have already posted the course outlines for Harry Miskimin’s course on the Economic History of Europe through the Industrial Revolution and William Parker’s course on U.S. Economic History, as well as Ray Powell’s course on History of the Soviet Economy.

While I must confess that I cannot summon any particular memory from the class itself beyond what I have managed to internalize from the readings below, a mere bibliographic residual, there was a later paper written by Cohen along with another one of my M.I.T. professors that possessed the needed  salience to survive in my memory to this day:

Jon S. Cohen and Martin Weitzman. A Marxian model of enclosures. Journal of Development Economics, 1975, vol. 1, issue 4, 287-336.

____________________

American Economic Association Membership Listing (1981)

Cohen, Jon S. Div. of Soc. Sci., Scarborough Coll., U. of Toronto, West Hill, ON M1C 1A4, Canada. Birth Year: 1939. Degrees: B.A. Columbia Coll., 1960; M.A., U. of Calif. at Berkeley, 1964; Ph.D., U. of Calif. at Berkeley, 1966. Prin. Cur. Position: Associate Prof., U. of Toronto, 1972-. Concurrent/Past Positions:  Asst. Prof., Yale U., 1966-72. Research: European economic history and th eeocnomics of education.

Source: Biographical Listing of Members. American Economic Review, Vol. 71, No. 6. (Dec., 1981), p. 101.

List of Publications: 1996-2019.

____________________

 

Economic History of Europe
Since the Industrial Revolution
Economics 81b (History 60b)
Spring 1972

Mr. J. Cohen
501 SSS
Ex. 63246

You are expected to read all (or large parts) of the following books:

David Landes, The Unbound Prometheus

Paul Mantoux, The Industrial Revolution in the 18th Century

E. P. Thompson, The Making of the English Working Class

T.S. Ashton, The Industrial Revolution, 1760-1830

J. H. Clapham, The Economic Development of France and Germany, 1815-1914

An attempt will be made to devote at least one class meeting each week to discussion of these books and other assigned readings. Topics which will be covered and suggested reading are listed below.

I. Preliminaries to Industrialization:

A) Trade and Political Change

W. E. Minchinton (ed.), The Growth of English Overseas Trade, Introduction.

B. Moore, Social Origins of Dictatorship and Democracy, Chapter I.

P. Mantoux, Part I, Chapter 2.

B) Population Change

Michael Drake (ed.), Population in Industrialization, Introduction, Chapters 3, 6, 7.

C) Agricultural Change

E. L. Jones (ed.), Agriculture and Economic Growth, Introduction, Chapter 44.

[addition, handwritten] Marx Vol. I, Part 8—Accumulation of Capital. Chapters 27-30.

P. Mantoux, Part I, Chapter 3.

II. Industrial Revolution in Great Britain

A) Industrial Change

D. Landes, Chapters 2-3.

T. Ashton, Chapter 3.

P. Mantoux, Part I, Chapter 1; Part II.

[addition, handwritten] Karl Polanyi, Great Transformation

B) Finance and Capital

P. Deane, The First Industrial Revolution, Chapters 10, 11, 13.

T. Ashton, Chapters 4-5.

C) Social and Economic Conditions

P. Mantoux, Part III.

E. P. Thompson, Part II.

T. Ashton, Chapters V-VI.

D) The Course of Economic Change After 1830

E. J. Hobsbawm, Chapters VI-IX. [Industry & Empire]

M. Dobb, Studies in the Development of Capitalism, Chapter 9.

III. Industrialization on the Continent

D. Landes, Chapters III-V.

A. Gerschenkron, Economic Backwardness in Historical Perspective, Chapter 1.

J. H. Clapham, selected chapters on France and Germany [1848-1915 Germany]

B. Supple (ed.), The Experience of Economic Growth, selected chapters. [Landes, Cameron,

[addition, handwritten] Cameron (ed.), Essays in French Economic History. Claude Fohlen, Ind. Rev. in France.

IV. The International Economy to 1914

R. Triffin, Our International Monetary System, Part I, Chapter I.

R. Winks (ed.), British Imperialism, 11-51, 82-96.

V. The Interwar Period and After

W.A. Lewis, Economic Survey, 1919-1939, selected chapters.

[handwritten addition to bottom of page]

Gallagher and Robinson, The Imperialism of Free Trade. E.H.R., 1953

Eckstein (ed.), Comparison of Economic Systems: Theoretical and Methodological Approaches

Rosovsky (ed.), Industrialization in Two Systems

[handwritten addition, back of the second page of syllabus]

Possible paper topics.

  1. Enclosures and population movements in Great Britain in the 17th century
  2. Patters of enclosure in France
  3. Land markets in 18th century Britain
  4. Colonial policy in Britain—Sources of policy. Interest groups.
  5. Eric Williams—impact of slavery on Industrialization
  6. Labor movement and progress of England. Awareness, Consciousness
  7. Rise of protection and aggressive foreign policy.

Source:  Personal Copy, Irwin Collier.

Image Source: Jon S. Cohen webpage at the University of Toronto.

 

 

Categories
Columbia Socialism Syllabus

Columbia. Communistic and Socialistic Theories. Course Outline. J. B. Clark, 1908

 

 

The artifact transcribed for this posting consists of two pages of handwritten notes for a course that was regularly offered by John Bates Clark on socialist and communist economic theories. An earlier post included an essay written by Clark in 1879 on meanings of socialism. 

This is the 1000th artifact transcribed for Economics in the Rear-view Mirror. 

_______________________

ECONOMICS 109 — Communistic and Socialistic Theories. Professor CLARK.
Tu. and Th. at 2.30, first half-year. 406 L.

This course studies the theories of St. Simon, Fourier, Proudhon, Rodbertus, Marx, Lassalle, and others. It aims to utilize recent discoveries in economic science in making a critical test of these theories themselves and of certain counter-arguments. It examines the socialistic ideals of distribution, and the effects that, by reason of natural laws, would follow an attempt to realize them through the action of the state.

Source:  Columbia University. Bulletin of Information. Courses Offered by the Faculty of Political Science and the Several Undergraduate Faculties. Announcement 1905-07. p. 26.

_______________________

Econ. 109—Jan. 1908

                                                                        Practical relations

1          Definitions of Socialism.

2          Distinction bet[ween] Soc[ialism] and Communism

3          [Distinction between Socialism and] Anarchism

4          Possibility of Socialism without Communism & vice versa

5          Ancient labor movements

6          Agrarianism.ancient and mediaeval in Rome.

7          Mediaeval and early modern labor movements

8          Economic causes of the French Revolution

9          Socialism during the Rev. and the 1st Empire.

(1) theoretical           (2) practical

10        Life and teachings of Saint-Simon

11        [Life and teachings of] Fourier

12        [Life and teachings of] Proudhon

13        France under Louis XVIII and Charles X

14        The revolution of 1830

15        France under Louis Philippe

16        The revolution of 1848

17        Socialism of 1848

18        Life and teachings of Louis Blanc

19        Life and teachings of Rodbertus

(1) Relation to Ricardo’s system
(2) Theory of Crises

20        Life of Karl Marx

21        Relation of Marx’ system to that of Rodbertus

22        Marx theory of U[se] Value. Ex[change] Val[ue] & Val[ue].

Dif[ference] in
application to
goods[?] made by
same[?] L[abor]
& dif[ferent] C[apital]

23        Basis in Ric[ardo of] the Function of Money

24        [Basis in Ricardo of] Surplus Value  (later)

25        [Basis in Ricardo of] the Effect of Machinery

26        Criticism of the Surplus Value theory

27        Merits and demerits of the general Marxian System

28       Change in the character of the socialistic movement due to the growth of monopolies

29       Trade unions and their purposes

30       Socialism and the trade union movement

31       The practicability of a partially socialistic society, of a completely [socialistic society]

 

Marx Biog[raphy] Publications.

Theory—Val[ue], [unclear word] Basis of dif[ference] Exchange V[alue]–Use V[alue]

Include  App[lication?] to L

[Include] Basis of the criticism of cost of [abor]

[Include] Marx app[lied?] to goods made by dif[ferent] proportions of l[abor] and c[apital]. His solution of difficulty.

[Include] Criticism

[Include] Modern theory of imputation as app[lication?] to prod[uct?] of l[abor] and of c[apital].

[Include] Surplus val[ue] theory–Full statement. Criticism.

[Include] Effect as above of app[lication?] of th[eory] of imputation. Marx th[eory] of  effects of machinery.

 

Source: Columbia University Rare Book and Manuscript Library. John Bates Clark Papers, Box 3, Folder 23, Series II.1 “Economics 109”, 1908.

Image Source: John Bates Clark portrait from the webpage “Famous Carleton Economists“.