Category: Undergraduate

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Brown Columbia Curriculum Harvard Pedagogy Teaching Undergraduate

Harvard. Argument for more political economy in a liberal education. President Eliot, 1884

Harvard course offerings in political economy were increased significantly in the 1883-84 academic year. This expansion was consistent with President Charles W. Eliot’s vision of a Harvard education fit for the twentieth century as seen in the following paragraphs from his 1884 commencement speech at Johns Hopkins University.

The state of instruction in political economy at Harvard ca. 1870 was mentioned in his book Harvard Memories, pp. 70-71.

_________________________

Excerpt from “What is a Liberal Education?”

Commencement speech at Johns Hopkins University
22. February 1884 by Charles W. Eliot

[…] Closely allied to the study of history is the study of the new science called political economy, or public economics. I say the new science, because Smith’s “Wealth of Nations” was not published until 1776; Malthus’s “Essay on the Principle of Population” appeared only in 1798; and Ricardo’s “Political Economy and Taxation,” in 1817. The subject is related to history, inasmuch as it gleans its most important facts by the study of the institutions and industrial and social conditions of the past; it is the science of wealth in so far as it deals with the methods by which private or national wealth is accumulated, protected, enjoyed, and distributed; and it is connected with ethics in that it deals with social theories and the moral effects of economic conditions. In some of its aspects it were better called the science of the health of nations; for its results show how nations might happily grow and live in conformity with physical and moral laws. It is by far the most complex and difficult of the sciences of which modern education has to take account, and therefore should not be introduced too early into the course of study for the degree of Bachelor of Arts; but when it is introduced, enough of it should be offered to the student to enable him to get more than a smattering.

When we consider how formidable are the industrial, social, and political problems with which the next generations must grapple, — when we observe how inequalities of condition increase, notwithstanding the general acceptance of theories of equality; how population irresistibly tends to huge agglomerations, in spite of demonstrations that such agglomerations are physically and morally unhealthy; how the universal thirst for the enjoyments of life grows hotter and hotter, and is not assuaged; how the relations of government to society become constantly more and more complicated, while the governing capacity of men does not seem to increase proportionally; and how free institutions commit to masses of men the determination of public policy in regard to economic problems of immense difficulty, such as the problems concerning tariffs, banking, currency, the domestic carrying trade, foreign commerce, and the incidence of taxes, — we can hardly fail to appreciate the importance of offering to large numbers of American students ample facilities for learning all that is known of economic science.

How does the ordinary provision made in our colleges for the study of political economy meet this need of students and of the community? That I may not understate this provision, I will describe the provisions made at Columbia College, an institution which is said to be the richest of our colleges, and at Brown University, one of the most substantial of the New England colleges. At Columbia, Juniors must attend two exercises a week in political economy for half the year, and Seniors may elect that subject for two hours a week throughout the year. At Brown, Juniors may elect political economy two hours a week for half the year, and Seniors have a like privilege. The provision of instruction in Greek at Brown is five and a half times as much as the provision in political economy, and seven elevenths of the Greek is required of all students, besides the Greek which was required at school; but none of the political economy is required. Columbia College makes a further provision of instruction in history, law, and political science for students who are able to devote either one or two years to these subjects after taking the degree of Bachelor of Arts, or who are willing to procure one year’s instruction in these subjects by accepting the degree of Bachelor of Philosophy instead of the degree of Bachelor of Arts — a very high price to pay for this one year’s privilege. If this is the state of things in two leading Eastern colleges with regard to instruction in political economy, what should we find to be the average provision in American colleges? We should find it poor in quality and insignificant in amount. In view of this comparative neglect of a subject all-important to our own generation and to those which are to follow, one is tempted to join in the impatient cry, Are our young men being educated for the work of the twentieth century or of the seventeenth? There can be no pretense that political economy is an easy subject, or that it affords no mental discipline. Indeed, it requires such exactness of statement, such accurate weighing of premises, and such closeness of reasoning, that many young men of twenty, who have been disciplined by the study of Greek, Latin, and mathematics for six or eight years, find that it tasks their utmost powers. Neither can it be justly called a material or utilitarian subject; for it is full of grave moral problems, and deals with many questions of public honor and duty.

Source: Charles W. Eliot, “What is a Liberal Education”, Commencement address read 22 February 1884 at Johns Hopkins University, reprinted in his Educational Reform, Essays and Addresses. New York: Century (1901), pp. 106-109.

Image Source: Harvard University Archives. Hollis Image Collection. President Charles W. Eliot.

 

 

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Economists Harvard Teaching Undergraduate

Harvard. Political Economy à la Francis Bowen, 1870

From time to time one digs up a nugget in the secondary literature that deserves its own post. Harvard President Charles W. Eliot (from 1869 to 1909), an advocate of putting more political economy into the curriculum, trash talks the quality of economics instruction when he took office.

Here two textbooks that had been inflicted upon Harvard College students in the pre-Dunbar days.

Francis Bowen (1856). The Principles of Political Economy Applied to the Condition, the Resources, and the Institutions of the American People. Boston: Little, Brown, and Company, 1856.

Francis Bowen (1870). American Political Economy, including Strictures on the Management of the Currency and the Finances since 1861. New York: Charles Scribner’s Sons.

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Harvard’s retired president,
Charles W. Eliot, looking back at economics instruction à la Bowen

In respect to the teaching of political economy, or economics, I can perhaps give you some notion of the great change which has taken place since 1869 by describing the work done by Professor Francis Bowen, the only Harvard professor who then dealt at all with the subject of political economy. He gave only about a quarter of his time to that subject, because he had so many other subjects to deal with. His idea of teaching political economy was to write an elementary book on the subject, and to require the senior class — it was a required subject of the senior year — to read that book. He gave no lectures; he sometimes commented upon those pages of the book which had been assigned as the lesson of the day, to be repeated in the recitation room by those students who had studied the lesson. It is a long way from that condition of things to the present organization of the Department of Economics.

Source:  Charles William Eliot (1923), Harvard Memories. Cambridge, Mass.: Harvard University Press, pp. 70-71.

Image Source: Harvard University. Hollis Images. Portrait (1891) of Francis Bowen by Edwin Tryon Billings.

 

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Exam Questions Harvard Undergraduate

Harvard. Final Exam for Theories and Problems of Economic Development. Baldwin, 1956.

 

In an earlier post I provided the syllabus for the undergraduate Harvard course “Theories and Problems of Economic Development” taught by Robert Baldwin in the second term of 1955-56. Career and other biographical information for this 1950 economics Ph.D. alumnus from Harvard are presented there.

This post adds the final examination for that course copied during a later visit to the Harvard Archives.

____________________

HARVARD UNIVERSITY
Department of Economics

Economics 108

Answer two (2) questions from Part I and two (2) questions from Part II.

PART I.

  1. Post-Keynesian growth theorists conclude that in order to maintain a continuous state of full employment in the economy, investment must grow at a constant annual percentage rate.
    1. How do they reach this conclusion?
    2. Explain why this condition is not required in the neo-classical model of economic growth.
  2. “In the Ricardian system the rate of profit declines due to the absence of sufficiently rapid technological progress; in the Marxian model the rate of profit declines because of rapid technological progress.” Discuss.
  3. Explain and criticize Schumpeter’s analysis of the process of economic development. (Do not discuss in any detail his general sociological analysis of capitalist development).

PART II.

  1. What factors should be considered in determining investment criteria for poor countries?
  2. Discuss and appraise the arguments for tariff and exchange control policies in the poor countries.
  3. Explain the following concepts:
    1. the vicious circle of poverty
    2. disguised unemployment
    3. balanced growth
    4. underdevelopment and backwardness

Source: Harvard University Archives. Final examinations, 1853-2001. Box 24, Volume: Papers Printed for Final Examinations [in] History, History of Religions, …, Economics, …, Naval Science, Air Science, June 1956.

Image Source: Selection from photograph (ca. 1975) of Robert E. Baldwin from the University of Wisconsin Archives/The University of Wisconsin Collection/The UW-Madison Collection/UW-Madison Archives Images.

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Gender M.I.T. Modigliani Race Suggested Reading Syllabus Undergraduate

M.I.T. Undergraduate Finance Reading List. Kuh, 1962

 

Edwin Kuh (1925-86) was hired by the Sloan School at M.I.T. in 1954, completing his Harvard Ph.D. in 1955. He was promoted to full professor of economics and finance in 1962 and was a joint appointment of the Sloan School and the department of economics. Mostly known as a pioneer in the application of econometric methods to forecasting, his New York Times obituary notes that in 1971 he worked together with Lester Thurow and John Kenneth Galbraith to devise proposals to promote affirmative action.

The undergraduate course reading list for finance transcribed for this post was fished out of Franco Modigliani’s papers at the Economists’ Papers Archive at Duke University.

_______________________

15.46 FINANCE
E. Kuh
Fall Semester, 1962

I. CAPITAL MARKETS (2 weeks)

W.L. Smith, “Monetary Policy and Debt Management”, Chapter 9, Staff Report on Employment, Growth and Price Levels, Joint Economic Committee, 1959, pp. 315-407.

R. L. Rierson, The Investment Outlook, Bankers Trust Co., 1962.

II. CAPITAL BUDGETING (8 weeks)

A. Decision Criteria—New Asset Demand

P. Massé, Optimal Investment Decisions, Ch. 1.

V. L. Smith, Investment and Production, Ch. 1, Ch. 3, pp. 62-72, Ch. 9.

E. Solomon, editor, The Management of Corporate Capital, Essays II—3, 5, 6, 7, 8.

D. Bowdenhorn, “Problems in the Theory of Capital Budgeting”, Journal of Finance, December 1959, pp. 473-92.

B. Decision Criteria—Replacement Demand

V. L. Smith, Investment and Production, Ch. 5.

P. Massé, Optimal Investment Decisions, Ch. 2.

C. Cost of Capital—Risk and Uncertainty

H. Markowitz, Portfolio Selection, 1959, pp. 1-34, 180-201, 287-97.

J. Hirschleifer, “Risk, the Discount Rate and investment Decisions”, Proceedings of the American Economic Association, May, 1961, pp. 112-120.

F. Modigliani and M. H. Miller, The Cost of Capital, Corporation Finance and the Theory of Investment, American Economic Review, June, 1958, pp. 473-492.

L. Fisher, “Determinants of Risk Premiums on Corporation Bonds”, Journal of Political Economy, June, 1959, pp. 217-37.

E. Kuh, “Capital Theory and Capital Budgeting”, Metroeconomics, (August-December, 1960), pp. 64-80.

D. Cost of Capital—Rationing

V. L. Smith, Investment and Production, Ch. 7.

E. Kuh, Capital Stock Growth, excerpts from Ch. 2 (mimeo).

E. Solomon, ed., The Management of Corporate Capital, Essay II-4.

III. DIVIDEND POLICY (2 weeks)

J. Lintner, “Distribution of Incomes of Corporations Among Dividends, Retaining Earnings, and Taxes,” American Economic Review, Supplement, May, 1956.

S. Dobrovolsky, Corporate Income Retention, 1915-1943.

IV. CURRENT POSITION (1 week)

D. Greenlaw, “Liquidity Variations Among Selected Manufacturing Companies,” M.I.T. Masters Thesis, 1957.

C. H. Silberman, “The Big Corporation Lenders,” in Readings in Finance from Fortune, Holt, 1958.

V. DEPRECIATION (2 weeks)

R. Eisner, “Depreciation Allowances, Replacement Requirements and Growth,” American Economic Review, December, 1952.

E. C. Brown, “The New Depreciation Policy Under the Income Tax: An Economic Appraisal,” National Tax Journal, March, 1955.

Article on Depreciation Practices in Europe, National City Bank Newsletter, September, 1960.

E. C. Brown, “Tax Incentives for Investment”, Proceedings, American Economic Review, May, 1962, pp. 335-45.

William H. White, “Illusions in the Marginal Investment Subsidy”, National Tax Journal, March 1962.

E. C. Brown, “Comments on Tax Credits as Investment Incentives”, National Tax Journal, June 1962, pp. 198-204.

 

Source:  Duke University. David M. Rubenstein Rare Book and Manuscript Library, Economists’ Papers Archive. Franco Modigliani Papers, Box T1, Folder: “Capital Markets, 15.432. Spring 1963”.

Image Source: MIT Museum website. People: Kuh, Edwin.

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M.I.T. Regulations Teaching Undergraduate

M.I.T. Dean’s request for writing requirements for elective subjects in economics department, 1953

 

The following exchange between the M.I.T. Dean of Humanities and Social Studies (John E. Burchard) and the representative of the chairperson of the Economics Department (Charles A. Myers covering for Ralph E. Freeman) gives us a short list of undergraduate courses that would have regularly had non-economics B.S. students attending to satisfy their distributional requirements in 1953. Dean Burchard’s informational request seems to be a fishing expedition with the hope of landing any evidence that some instructor in some course was helping to improve M.I.T. undergraduate writing skills. It is also interesting to see that sociology, psychology, and political science were all subjects  administered by the economics department.

____________________________

Dean Reminding Economics Department about Information Request

May 6, 1953

Memorandum to Professor [Charles Andrew] Myers:

I asked Ralph [Evans Freeman] a while ago to get me some information but have not heard from him and imagine it got left and wonder if you could undertake this survey for me in the near future and give me an answer.

The problem is that those of us who were worried about the English style of our students at M.I.T. are pretty certain that we will never get a good overall performance on the mere basis of instruction in the first two years where writing is required and read and criticized. The burden of continuously upholding the standard obviously is going to rest with the professional departments and I have no doubt there are great inconsistencies in this throughout the Institute, and I also have no doubt most of them are pretty remiss in this obligation.

Before starting any campaign on this question, however, it is obvious that I need to know whether the house of my own School is in point of fact in order, or if not how far it is out of order.

I accordingly asked Professor [Howard Russell] Bartlett and Professor [Ralph] Freeman to get me an indication of the amount of writing required in the various subjects which might be elected by students in the School. In the History Department this was obviously limited to non-professional subjects and for the moment I am more interested in the general electives in the Department of Economics than I am in what policing you do of your own majors. It would be more helpful to know about both.

What Professor Bartlett did was write me a general answer which told me how many papers were required each semester, the approximate length, and how many written examinations. I wonder if it would be possible for you to dig out the same information for the various appropriate subjects in the Department of Economics and report to me fairly soon. I would like to be thinking about this problem during the summer.

Sincerely yours,
[unsigned]
John E. Burchard
Dean of Humanities and Social Studies

Jeb/h

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Economics Department’s First Response to Dean’s Request for Information

Massachusetts Institute of Technology
Industrial Relations Section
Department of Economics and Social Science
Cambridge, Massachusetts

May 11, 1953

Memorandum to Dean John E. Burchard

Dear John:

This is in answer to your memorandum of May 6th. I guess this is something Ralph was unable to compete before he left and I thought I should get done promptly since I will be leaving tomorrow for the annual research meeting of the Committee on Labor Market Research of the Social Science Research Council in Minneapolis. George Shultz is one of the invited guests.

Perhaps the best way to answer your question is to list what the various people in charge of the various undergraduate subjects reported:

14.01 [Economic Principles I] ([Robert Lyle] Bishop) — 3 or 4 written hour examinations, mostly of the essay type
14.02 [Economic Principles II] ([Edgar Carey] Brown) — 4 written hour examinations, no term papers
14.03 [Prices and Production] ([Robert Lyle] Bishop) — 2 to 3 hour examinations; no term papers
14.09 [Economic Problems Seminar] ([Paul Anthony] Samuelson) — no written exams, but 2 written papers, one long and one short, plus oral presentation of the content of the paper prior to the submission of the written paper
14.51 [International Relations] ([Norman Judson] Padelford) — 8 written quizzes of 35 to 40 minutes in length; no term paper, except that sometimes there are written projects.
14.61 [Industrial Relations] (Doug [Douglass Vincent] Brown and [John Royston] Coleman) — 3 hour examinations and 3 written case reports
14.63 [Labor Relations] ([George Pratt] Shultz) — 3 written hour examinations and one term paper
14.64 [Labor Economics and Public Policy] ([George Benedict] Baldwin) — 3 hour examinations and one written term paper
14.70 [Introductory Psychology] ([George Armitage] Miller) — 2 or 3 written hour examinations, partly objective in character; no term paper
14.72 [Union-Management Relations] ([Joseph Norbert] Scanlon) — 2 hour examinations and a special paper on a particular case
14.73 [Organization and Communications in Groups] ([Alex] Bavelas and [Herbert Allen] Shepard) — 2 objective-type examinations and one written essay-type examination
14.75 [Experimental Psychology] ([Joseph Carl Robnett] Licklider) — no examinations, but a written paper on the experiment, suitable for publication — this latter test is never quite met but students are expected to write with that end in view
14.77 [Psychology of Communication] ([George Armitage] Miller) — 3 objective-type examinations
14.91 and 14.92 [The American Political System;
Comparative Political and Economic Systems]		 ([Jesse Harris] Proctor and [Roy] Olton) — 3 written hour exams, no term paper in the first term — 3 written hour exams plus a written term paper in the second term
15.30 [Personnel Administration] ([Paul] Pigors) — 4 written cases, one term paper and one hour examination

 

I think this pretty well covers the principal courses which are taken by undergraduate students in other departments. I think my own experience in teaching such undergraduate courses as 14.61 and 14.63 is similar to that of most of the staff, in that I have called attention to students of misspelled words, poor grammar, and generally poor organization and expression of written answers and papers. I really doubt if we can do much more or should do much more. It would be quite a task to go over each written examination with each student in detail, or even to do this after they have submitted a term paper. From time to time I have done this with some theses but not as a general rule, since the student is warned in advance that his grade will depend not only on content, but on expression.

I hope this gives you the information you need.

Sincerely
[signed] Charlie
Charles A. Myers

m:g

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Follow-up Request by Dean

May 12, 1953

Memorandum to Professor Myers

Dear Charlie:

Your memorandum of yesterday answers my question about the writing in part.

I guess I agree, though I wish I didn’t have to, that people in the department cannot be expected to act as writing critics for students who are still defective in their English. Though I wish more people required papers and fewer examinations, this is obviously a matter of individual teachers’ methods.

The remaining question which I think is not answered is I believe a critical one, namely, does poor writing really result in a lower grade, and if it does is that single comment written on to the paper when it is returned with the grade to the student?

I hate to trouble you further but wonder if you would be able to explore this with the same group of people.

Sincerely yours,
[unsigned]
John E. Burchard
Dean of Humanities and Social Studies

Jeb/h

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Economics Department’s Response to Follow-up Request by the Dean

Massachusetts Institute of Technology
Industrial Relations Section
Department of Economics and Social Science
Cambridge, Massachusetts

June 1, 1953

Memorandum to Dean John E. Burchard

Dear John:

These are some further thoughts on your memo of May 12th, asking me to check again on whether poor writing really results in a lower grade in our courses and whether comments are written on the papers when they are returned with grades to the students.

Nearly everyone with whom I have talked here agrees that poor writing does result in a lower grade, if by “poor writing” is meant poor organization, hasty sentence construction, and confusing or fuzzy thinking as expressed in written words. Poor spelling apparently does not count so much, although Bob Bishop and I specifically do encircle misspelled words on written exams and papers. Comments on poor organization, etc., are specifically written on papers and exams when returned to students, and I know that many of us have stressed to students before writing exams and papers that their grades will depend in part on the way in which their material is organized and presented.

One further experience might be of interest in connection with your comment that you wish more people would require papers and fewer examinations. During the past term Jim Baldwin gave term papers in 14.64 and found that the pressure of senior theses on the students was so great that they did a very poor job on the papers. His grades reflect this, but he is bothered about the apparent conflict between the senior thesis and the term paper requirement in senior Humanities and Social Studies courses. Maybe we ought to place more emphasis on good writing in the senior thesis in the Department and in other Departments.

Sincerely,
[signed] Charlie
Charles A. Myers

CAM:dg

Source: M.I.T., Institute Archives and Special Collections, School of Humanities and Social Sciences. Office of the Dean, Records, 1934-1964. Box 3, Folder “103, Economics Department, General, March 1951-1956”.
For [first and middle names of instructors] and [course titles]: Course Catalogue of the Massachusetts Institute of Technology, 1952-53.

Image Source: (Left) John Burchard ; (Right) Charles A. Myers. MIT Museum Legacy Website (People Collection).

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Economics Programs Race Sociology Undergraduate

Fisk University. Economics, Sociology & Social Work Courses. Haynes, 1911-13

In the previous post we met the first African American awarded a Columbia University Ph.D. (Dissertation: “The Negro at Work in New York City”, 1912), George Edmund Haynes (1880-1960). His first academic appointment was at Fisk University in Nashville, Tennessee where he was Professor of Social Science, a department of one. This post provides an excerpt from the catalogue to this private historically black university that gives us courses with descriptions and text-books (linked here!) for economics, sociology and social work à la Haynes.

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SOCIAL SCIENCE AND SOCIAL WORK
[Fisk University, 1911-13]

In the study of Sociology and Economics and the scientific approach to social problems Fisk is making every effort to keep abreast of the leading developments. Especially is there need for thorough training in scientific methods for study of social problems and the development of the spirit of social service among Negro college youth.

The growing urban concentration of Negroes demands special study and the development of methods of social betterment to meet the problems attendant upon the increasing complexity of their life and conditions in cities, North and South. This urban situation can best be met by college Negroes who have had training in the social sciences and in practical methods of social work. The greatest need of the urban situation is a number of well-trained social and religious workers. It is the chief aim of this department to develop courses, theoretical and practical, in Economics, Sociology and Social Problems that will give a thorough foundation as a preparatory training for social and religious workers.

Also, the increasing concentration of Negroes in urban centers demands that teachers, ministers, doctors, and those entering other professions, should have a thorough equipment to enable them to understand and to meet successfully the problems with which they will have to deal.

The students who desire to make their life calling that of social workers and who show promise of efficiency and success in such work will be given, through fellowships after graduation, opportunities for practical experience and further study in social betterment efforts in New York and other cities under the auspices of the National League on Urban Conditions Among Negroes, which has been organized by a number of public-spirited citizens with the purpose of studying conditions among Negroes in cities, of developing agencies to meet social needs and for the purpose of securing and training Negro social workers. The University is affiliated with the League in developing this work.

Besides, the time has come for the Negro college to become closely articulated with the community in which it is located. The further aim is to bring the University into closer relation with the conditions among colored people in Nashville and to seek the cooperation of the other Negro colleges in developing this much needed phase of education. The following courses are now given:

  1. ELEMENTARY ECONOMICS: INDUSTRIAL HISTORY AND ORGANIZATION. Junior Year. First and second semesters, 3 hours per week. The aim of this course is to acquaint the student, through a study of concrete facts, with the underlying principles of the economic organization and activity of society, with special reference to American conditions, and with the fundamental economic doctrines as an introductory knowledge of the principles of production, consumption and distribution. The course is conducted by means of readings, class discussions and lectures. Text-books: Coman, “Industrial History of the United States;” collateral reading, and Ely, “Outlines of Economics”.

 

  1. ADVANCED ECONOMICS; ECONOMICS AND LABOR PROBLEMS. Senior Year. First and second semesters. 2 hours per week. The work of this course is based upon Course 1. It is conducted partly in the form of a seminar.

In the second half of the course such questions as taxation, labor legislation, child labor, strikes and lockouts, etc., are studied by means of discussions, lectures, readings and assigned investigations. The aim is to develop the student in independent thinking about current economic and labor problems. Text-books: Seager, “Introduction to Economics”[replaced by Nearing and Watson, “Economics” in 1912-13]; Adams and Sumner, “Labor Problems”; collateral reading.

 

  1. SOCIOLOGY AND SOCIAL PROBLEMS. Senior Year. First and second semesters, 3 hours per week in class-room work. During 12 weeks of the second semester ten hours per week additional field work is required. The first half of this course gives the student an acquaintance with some of the fundamental sociological principles and laws, with some of the chief authorities in sociology, and leads him to a point of view for his thinking about modern social problems. The class-room work is conducted by means of lectures, assigned readings and discussions.

The second half of the course begins with a study of elementary statistics and methods of social investigation. Each student is required to take part in an investigation of some problem like the housing problem, occupations, etc., as they are found among Negroes in Nashville. In addition, he is required to acquaint himself with the literature bearing on the topics of the investigation. In the last part of the course a series of lectures on problems and methods of bettering conditions among Negroes in cities is given by social experts from various cities. The past year the following lectures were given:

Two lectures on “Conservation of Childhood”;
Six lectures on the “Religious Problem among Negroes in Cities”;
Ten lectures on “Principles of Relief and Charity Organization”;
Three lectures on “Special Problems among Negro Women in Cities”;
Five lectures on “Delinquency and Probation”.

[Topics added 1912-13: “Health Problems Among Negroes”; “Educational Problems Among Negroes”; “The State and City in Relation to Social Conditions”; “Rural Conditions Among Negroes”.]

Text-books: Blackmar, “Elements of Sociology” [replaced by Metcalf, “Organic Evolution” in 1912-13]; Carver, “Sociology and Social Progress”; Ward, “Applied Sociology”; collateral reading.

 

  1. HISTORY OF THE NEGRO IN AMERICA. Junior Year. First and second semesters. 1 hour per week. A rapid survey is made of the early period of the importation of slaves and of the social and economic conditions which gave rise to slavery, as well as the suppression of the slave trade. A more intensive study is made of the two periods, 1820-1860, and 1860 to the present day. The study thus gives historical perspective for the understanding of present conditions, an appreciation of the honored names of the Negroes of the past, and an estimate of the genuine contributions the Negro people has made in the way of labor force, military strength, musical culture, etc., to American civilization.

There is no suitable text-book to be used for such a historical course, so that in addition to lectures assigned readings are selected from standard histories [added in 1912-13: Brawley, “Short History of the American Negro”], from Du Bois’ “Suppression of the Slave Trade”, Williams’ “History of the Negro in America”[Williams not listed as text-book in 1912-13], Washington’s “Story of the Negro” [Volume I; Volume II], and Hart’s “Slavery and Abolition”. In addition, each student is required to use original sources and report upon some assigned topic, such as biographies of slaves, sale of slaves, underground railroad, etc.

 

  1. THE NEGRO PROBLEM. Senior Year. First and second semesters, 1 hour per week. It is the aim of this course to use all available data to acquaint the student with the part the Negro has in the developing life of America and with the economic, political, intellectual, religious and social forces that enter into the condition and relations of the Negro in America. Particular attention is given to urban conditions. Reviews of current books and articles on the Negro Problem are made. The student is thus developed in the power of independent thinking upon the subject. Text-books: Weatherford, “Negro Life in the South”; Du Bois, “Philadelphia Negro”; Haynes, “The Negro at Work in New York City”; collateral reading.

Source: Catalogue Number 1911-1912 (2nd ed.), Fisk University News, Vol. III, No. 3 (May, 1912), pp. 47-50.

Image Source: Tennessee Vacation Website. Road trip to Nashville.

 

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Exam Questions Harvard Principles Suggested Reading Syllabus Teaching Undergraduate

Harvard. Principles of Economics. Reading assignments, Exams, 1928

 

Partial course outlines from Harvard’s principles of economics course from 1927-28 and 1928-29 were found filed with the economics course outlines for 1938-39 in the Harvard Archives. The principal instructors for the courses in both years were Harold Hitchings Burbank and Edward Hastings Chamberlin, so combining the first semester outline from 1928-29 with the second semester outline from 1927-28 as transcribed below gives us a synthetic syllabus for the 1927-29 years. This post also includes enrollment figures for the two academic years as well as the corresponding semester final exams for the course. Links to the assigned textbooks have been added to complete the package.

____________________________

Course Announcement and Description

ECONOMICS
GENERAL STATEMENT

Course A is introductory to the other courses. It is intended to give a general survey of the subject for those who take but one course in Economics, and also to prepare for the further study of the subject in advanced courses. It may not be taken by Freshmen without the consent of the instructor. Students concentrating in Economics should elect Course A in their Sophomore year, except in unusual cases. History 1 or Government 1, or both of these courses, will usually be taken to advantage before Economics A…

INTRODUCTORY COURSES
Primarily for Undergraduates

A. Principles of Economics

Tu., Th., Sat., at 11. Professor [Harold Hitchings] Burbank, Dr. [Edward Hastings] Chamberlin, Dr. [Charles Holt] Taylor, and Messrs. [John Bever] Crane, [Melvin Gardner] de Chazeau, [Edgar Jerome] Johnson, [Delmar] Leighton, [Talcott] Parsons, [Carl Johann] Ratzlaff, [James Harold] Shoemaker, [Samuel Sommerville] Stratton, [John Phillip] Wernette, [Harry Dexter] White and [Earle Micajah] Winslow; with lectures on selected subjects by Professor [Frank William] Taussig and other Members of the Department.

Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes an analysis of the present organization of industry, the mechanism of exchange, the determination of value, and the distribution of wealth.

The course is conducted entirely by oral discussion in sections. Taussig’s Principles of Economics is used as the basis of discussion.

Course A may not be taken by Freshmen without the consent of the instructor.

Source:  Official Register of Harvard University, Vol. XXV, No. 29 (May 26, 1928). Division of History, Government, and Economics 1928-29, pp. 63-64.

____________________________

Enrollment in Economics A, 1928-29

[Economics] A. Professor Burbank and Dr. Chamberlin, Dr. Taylor and Messrs. Leighton, Stratton, Winslow, O.H. Taylor, E.J. Johnson, de Chazeau, Parsons, Wernette, H.D. White, and Ratzlaff, Crane and Shoemaker. — Principles of Economics.

Total 477: 55 Seniors, 127 Juniors, 242 Sophomores, 26 Freshmen, 27 Others.

Source: Harvard University. Report of the President of Harvard College, 1928-29, p. 71.

 

____________________________

EXHIBIT D
First Half

OUTLINE OF STUDY FOR ECONOMICS A
1928-29

Hubert D. Henderson. Supply and Demand. (New York: 1922).

D. H. Robertson. The Control of Industry (London: 1923).

Frank W. Taussig. Principles of Economics, Vol. I, 3rd edition, (New York: 1921).

Sept. 27
Sept. 29		 Lecture.
Lecture.
Oct. 1 – 6 Taussig, Principles 1. Wealth and Labor.
2. Labor in Production.
3. Division of Labor and Development of Modern Industry.
Oct. 8 – 13 ”
”
”
Robertson		 4. Large Scale Production.
5. Capital.
6. Corporate Organization of Industry.
1 – 3. Control of Industry.
Oct. 15 – 20 Taussig
”
“		 8. Exchange, Value, Price.
9. Value and Utility.
10. Market Value. Demand and Supply.
Oct. 22 – 27 ”
”
“		 17. Coinage.
18. Quantity.
19. Secs. 2, 3, 4: History of Prices.
Oct. 29 – Nov. 3 ”
”
“		 20. Bimetallism.
22. Changes in Prices.
23. Government Paper Money
Nov. 5 – 10 ”
“		 24. Banking and Medium of Exchange.
25. Banking Operations.
Nov. 12 – 17 ”
”
“		 27. Banking System of United States
28. Crises.
29. Panics.
Nov. 19 – 24 ”
”
Hour Exam		 30. Prices.
31. Reform.
Nov. 26 – Dec. 1 ”
”
”
Henderson		 Review 8, 9, 10.
12. Constant Cost.
13. Diminishing Returns.
Demand and Supply (Nov. 26 to Dec. 15).
Dec. 3 – 8 Taussig
“		 14. Varying Cost.
15. Monopoly.
Dec. 10 – 15 ”
Henderson:		 16. Joint Cost and Joint Demand.
Ch. 5. Demand and Supply.
Dec. 17 – 22 Taussig 32. The Foreign Exchanges
RECESS Dec. 23 to Jan. 2
Reading Period Jan. 2 to 16  [No additional reading requirements]
Jan. 2 – 7 Taussig
“		 33. International Payments.
34. International Trade.
Jan. 9 – 14 ”
“		 36. Protection.
37. Free Trade.
MIDYEARS:

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 2; Folder “Economics, 1938-1939 [sic].”

____________________________

1928-29
HARVARD UNIVERSITY
ECONOMICS A
[Mid-Year Examination, 1929]

  1. Many business men are hoping for a period of rising prices; some financial writers are prophesying that it is inevitable. Assuming no change in our existing monetary and banking laws, what causes might lead to an increase in prices? How would such rising prices tend to affect the holders of various types of securities?
  2. “Some people argue that price is determined by cost of production; and yet they admit that producers with too high costs have to drop out. Thus it is clear that in reality a producer’s cost is determined by the price he can get, consequently price cannot be determined by cost of production.” Comment on this statement.
  3. What influence has the existence of joint cost upon the development of large scale production?
  4. It has been stated that with the Federal Reserve System in operation there will never be a recurrence in the United States of such (a) crises and (b) panics as occurred in 1893 and 1907. Do you agree?
  5. What attitude toward the tariff would you expect to be taken by a banker who has made large loans abroad, by a manufacturer of woolen cloth, by a professor of economics, by a Louisiana politician?
  6. Explain briefly:
    1. The principles of subsidiary coinage.
    2. The relation between markets and the division of labor.
    3. The distinction between consumers’ goods and producers’ goods.
    4. The significance of the following: “The plentifulness of money is in itself a matter of indifference.”

Source: Harvard University Archives. Mid-Year examinations, 1852-1943. Box 11, Bound volume: Examination Papers: Mid-Years 1929, Papers Printed for Mid-Year Examinations [in] History, New Testament, Government, Economics….Military Science, Naval Science. January-February, 1929.

____________________________

Enrollment in Economics A, 1927-28

[Economics] A. Professor Burbank and Dr. Chamberlin and Messrs. K.W. Bigelow, [Theodore John] Kreps, Stratton, Winslow, O.H. Taylor, E.J. Johnson, de Chazeau, Parsons, Wernette, H.D. White, and D.V. Brown, with lectures on selected subjects by Professor Taussig and other Members of the Department. — Principles of Economics.

Total 532: 61 Seniors, 165 Juniors, 258 Sophomores, 20 Freshmen, 28 Others.

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

____________________________

OUTLINE OF ASSIGNMENTS FOR ECONOMICS A
1927-28, 2nd. Half year.

Thomas Nixon Carver. The Distribution of Wealth (New York: 1921).

Hubert D. Henderson. Supply and Demand. (New York: 1922).

D. H. Robertson. The Control of Industry (London: 1923).

Frank W. Taussig. Principles of Economics, 3rd edition, (New York: 1921). Volume I, Volume II.

Feb. 6

Feb. 11

 Review
Value
Diminishing Returns		 Carver:
”
“		 Distribution of Wealth
Ch. I. Value
Ch. II. Diminishing Returns
Feb. 13

Feb. 18

 Rent Carver:
Taussig:
“		 V. Rent
Ch. 44. Rent (esp. Capitalization)
Ch. 43. Urban Site Rent
Feb. 20

Feb. 25

 Interest Carver:
Taussig:		 Ch. VI. Interest
Ch. 40. Interest
Feb. 27

Mar. 3

 Wages Carver:
Taussig:		 Ch. IV. Wages
Ch. 47. Social Stratification
Mar. 5

Mar. 10

 Profits, Population Carver:
Taussig:
“		 Ch. VII. Profits
Ch. 53. Population
Ch. 54. Population, continued
Mar. 12

Mar. 17

 Inequality Taussig:
”
”
“		 Ch. 7. Productiveness
Ch. 45. Monopoly
Ch. 51. Great Fortunes
Ch. 55. Inequality
Mar. 19

Mar. 24

 Land, Risk, Labor, etc. Henderson:
”
”
”
“		 Ch. VI. Land
Ch. VII. Risk Bearing Enterprise
Ch. VIII. Capital
Ch. IX. Labor
Ch. X. Real Costs of Production
Mar. 26

Mar. 31

 Labor Taussig:
”
“		 Ch. 56. Wages system
Ch. 57. Labor Unions
Ch. 58. Labor Legislation
Apr. 2

Apr. 7

 Labor ”
”
“		 Ch. 59. Industrial Peace
Ch. 60. Workmen’s Insurance
Ch. 61. Coöperation
RECESS April 8-14
Apr. 16

Apr. 21

 Railways ”
“		 Ch. 62. Railways
Ch. 63. Railway Problems, continued.
Apr. 23

Apr. 28

 Public Ownership & Combinations ”
“		 Ch. 64. Public Ownership & Control
Ch. 65 Combinations & Trusts
Apr. 30

May 5

 Industry and Capitalism Robertson:
”
”
Review		 Ch. V. Capitalism of Industry
Ch. VI. Finance and Industry
Ch. VII. Survey of CapitalismCh. X. Workers’ Control
May 7
READING PERIOD BEGINS
May 12		 Socialism Taussig:
“		 Ch. 66. Socialism
Ch. 67. Socialism, continued.
May 14

May 19

 Social Reform Robertson:
”
“		 Ch. IX. Collectivism
Ch. X. Workers Control
Ch. XI. Joint Control
May 21

May 26

 Taxation

Taussig:

“

 Ch. 68. Principles Underlying Taxation
Ch. 69 Income and Inheritance Taxes
REVIEW
EXAMINATIONS

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 2; Folder “Economics, 1938-1939 [sic].”

____________________________

1927-28
HARVARD UNIVERSITY
ECONOMICS A
[Final End-year Examination]

Allow one hour and one-half for the first question.

  1. Explain how the distribution of wealth is affected by the following:
    1. Large and rapid changes in the supply of money.
    2. Labor saving inventions.
    3. A rise in the standard of living of the wage earning classes.
    4. The opening for settlement of new areas of good agricultural land.
    5. The government regulation of public utilities.
  2. Discuss the accuracy of the following statements:
    “Three generations from shirt sleeves to shirt sleeves.”
    “The rich are becoming richer and the poor poorer.”
    “To abolish wage slavery we must abolish the wages system; only through socialism can the wages system be forced to disappear.”
    “The one way a union can help its members is by limitation of the supply of hands.”
  3. What does each of the following propose: collectivism, single tax, producers’ coöperation, syndicalism?
  4. Explain briefly the case for and against minimum wage laws, unemployment insurance, progressive taxation of incomes, the restriction of immigration.

Source: Harvard University Archives. Examination papers, Finals (HUC 7000.28). Bound Volume 70 (1928). Papers Printed for Final Examinations [in] History, Church History,…Economics,…Military Science, Naval Science, June 1928.

Image Source: Harold Hitchings Burbank from Harvard Class Album 1934.

Categories
Exam Questions Harvard Suggested Reading Syllabus Undergraduate

Harvard. Syllabus and exams for Government Policy Toward Business. Kaysen, 1961

 

Carl Kaysen
from the 1958 Harvard yearbook

Carl Kaysen, who just this year [1958] was promoted to the position of Professor of Economics, has risen quickly up the educational ladder and has a distinguished record of non-academic accomplishments as well. At the age of 20, he served on the National Bureau of Economic Research, two years later he joined the Office of Strategic Services, and he served in the Air Force from 1943 to 1945. At thirty, he became an Assistant Professor of Economics at Harvard, and was promoted to Associate Professor two years ago. He is a member of Phi Beta Kappa, and a Guggenheim Fellow.

Professor Kaysen is primarily interested in industrial organizations and monopoly practices. He is a co-author of The American Business Creed and is currently engaged in a study of the complexity of modern business firms.

Source: Harvard Class Album 1958.

______________________

Course Description

Economics 144. Government Policy Toward Business
Half course (spring term). M., W., F., at 10. Professor Kaysen.

This course surveys the major areas of government regulation of the functioning of markets in the United States. Anti-trust policy, agricultural policy, public utility regulation, and the regulation of transportation are examined with an eye to both their underlying economic rationale and their outcome in practice.

Source: Courses of Instruction: Faculty of Arts and Sciences, Official Register of Harvard University, Vol. LVII, No. 21 (August 29, 1960), p. 96.

______________________

Course Enrollment

[Economics] 144. Government Policy Toward Business. Professor Kaysen. Half course.

(Spring) Total 88: 2 Graduates, 29 Seniors, 32 Juniors, 19 Sophomores, 5 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1960-61, p. 76.

______________________

Economics 144
Government Policy Toward Business

Professor Kaysen        Littauer 212    MW 11-12
Dr. Fromm                  Littauer 214    MW 11-12
Mr. Wilson                  Littauer 214 Tues 4-6

  1. Policy Goals, Economic Systems, and Policy Instruments (Feb. 6-17)

Watson, Donald S., Economic Policy: Business and Government, Part I, pp. 3-196.

  1. Competition: Enough and Just Enough (Feb. 20 – March 20)

Wilcox, Clair, Public Policies Toward Business, Revised Edition, Chapters 3-5, pp. 49-123.

Bain, Joe S., Industrial Organization, Chapter 13, pp. 477-539.

United States, Department of Justice, Report of the Attorney General’s National Committee to Study the Antitrust Laws, Chapters 1 and 3, pp. 1-64 and 115-128.

Stelzer, Irwin M., Selected Antitrust Cases: Landmark Decisions in Federal Antitrust, Chapter 1 (except Yellow Cab Company, et al.) pp. 3-40, 44-59, Chapter 3, pp. 79-94, Chapter 4, pp. 95-105.

Oppenheim, S. Chesterfield, Recent Cases on Federal Anti-Trust Laws, 1951 Supplement to Cases on Federal Anti-Trust Laws;

United States v. American Can Co., pp. 434-451
Tag Mfrs. Institute, et al. v. Federal Trade Commission, pp. 304-318
United States v. Aluminum Company of America, pp. 209-289

Federal Supplement, United States v. Bethlehem Steel Corporation and Youngstown Sheet and Tube Co., 168 F. Supp. 576.

Levitan, Sar A., Federal Assistance to Labor Surplus Areas, A Report to the Committee on Banking and Currency, United States House of Representatives, 85th Congress, 1st Session, April 15, 1957, pp. 5-35.

Watson, Donald S., Economic Policy: Business and Government, Chapter 25, pp. 658-691.

Joint Economic Committee, Congress of the United States, Staff Report on Employment, Growth, and Price Levels, December 24, 1959, Chapter 7, pp. 189-204.

  1. Monopolies, Near Monopolies (March 22 — April 17)

Wilcox, Clair, Public Policies Toward Business, Revised Edition, Chapters 19-22, pp. 539-642.

Watson, Donald S., Economic Policy: Business and Government, Chapter 16, pp. 391-421.

Meyer, J.R., Peck, M.J., Stenason, J., and Zwick, C., The Economics of Competition in the Transportation Industries, Chapters 6-9, pp. 145-273.

  1. External Effects and Ignorance (April 19-28)

Rostow, Eugene V., A National Policy for the Oil Industry, Chapters 3-6, pp. 16-53.

Bain, Joe S., The Economics of the Pacific Coast Petroleum Industry, Volume III, Chapter III, pp. 23-67.

Owen, Wilfred, Cities in the Motor Age, Chapter 2, pp. 18-41, Chapter 8, pp. 138-150.

Haar, Charles M., “The Master Plan: An Inquiry in Dialogue Form,” Journal of the American Institute of Planners, August 1959, pp. 133-142.

  1. General Overview (May 1-3)

To be announced.

Reading Period assignment to be announced.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 7, Folder “Economics, 1960-1961 (1 of 2)”.

______________________

HARVARD UNIVERSITY
Department of Economics
Reading Period Assignments
Spring Term, 1960-61

Ec. 144:

J. E. Meade, Planning and the Price Mechanism, Ch. I, III, IV, AND W.A. Lewis, Principles of Planning, Ch. I, II, IV, VI, VII-IX
OR E. Devons, Planning in Practice.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 8, Folder “Economics, 1960-1961 (2 of 2)”.

______________________

ECONOMICS 144
Hour Examination
April 14, 1961

Answer ALL questions.

PART I
20 Minutes

  1. Some economists have suggested that a “market power” standard should be used in judging monopolization cases under Section 2 of the Sherman Act. What would the differences between this standard and the exiting performance standard be? What would be achieved by adopting the proposed standard? What new problems might it create?

 

PART II
30 Minutes

  1. Outline the role of government economic policy as interpreted by:
    1. reform liberals
    2. neo-liberals
    3. conservatives
  2. What is the essential economic problem presented by the agricultural sector and the depressed areas? [handwritten note: “allocation of resources + factor mobility”]
  3. There is wide agreement that some regulation of the utility industries, such as electric power, is necessary. What economic facts and judgments underlie this agreement?

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 7, Folder “Economics, 1960-1961 (1 of 2)”.

______________________

ECONOMICS 144
Final Examination

PART I

Answer both questions.

  1. (a) Some problems in anti-trust regulation are:
    1. Parallel pricing vs. collusive behavior
    2. Monopolizing vs. monopoly
    3. Market power vs. monopoly

Discuss each in the light of Sherman Act enforcement and the cases you have read.

  1. Assume that you were an economic adviser to the Anti-trust Division during the Dupont Cellophane case. After you had heard Dupont present its defense, what arguments would you have given the Government’s lawyers in order to help them prepare their reply?
  1. (a) Why does the market fail to allocate resources properly in the oil industry? What possible remedies would you recommend and why?

(b) Discuss briefly the arguments why interference with the market mechanism is necessary in order to achieve an optimal allocation of land uses in a city. What do you consider to be the most difficult problems that an urban planning authority would face?

 

PART II

Answer one question only.

  1. (a) What are some of the difficulties encountered by the regulatory authorities when they attempt to set utility rates so as to guarantee a “fair return on investment”?

(b) Give reasons why the present system of pricing by electric utilities leads to misallocation of power uses. Set up a utility pricing scheme that would remove this misallocation.

  1. (a) What accounts for the existence of natural monopoly elements in the transportation industries? What distinguishes these industries from “pure” natural monopolies, such as electric utilities?

(b) Some economists have argued that railroads should be subject to less rather than more regulation. What arguments can be used to support their position? What problems would arise if the railroads were subject to no special regulation at all?

 

PART III

Answer one question only.

  1. Evaluate some of the arguments put forward by Meade and by Lewis to support their contention that some state planning is necessary to improve the functioning of the economic system. Discuss to what extent each of their proposals is an attempt to improve the functioning of competitive markets and to what extent it is an attempt to supplant market determined goals.
  2. Discuss Devon’s account of the problems that arise when planning is carried out in the absence of prices. Why would the use of prices help to solve some of these problems?

Source: Harvard University Archives. Harvard University. Final Examinations 1853-2001 (HUC 7000.28). Faculty of Arts and Sciences. Papers Printed for Final Examinations [for] History, History of Religions,…, Economics,…Naval Science, Air Science  in (Bound) Volume 134, Social Sciences. Final Examinations, June 1961.

Image Source:  Carl Kaysen in the Harvard Class Album 1958.

Categories
Bibliography Teaching Undergraduate Wisconsin

AEA Publications. Bibliography from article “Economics as a School Study”. Clow, 1899

 

This post provides (i) information on the life and career of Harvard’s tenth Ph.D. in economics, Frederick Redman Clow and (ii) the useful bibliography to his AEA publication, “Economics as a School Subject”. 

______________________

Frederick Redman Clow
(From his Oshkosh obituary)

Born Nov. 29, 1864 in Lysle, Minnesota.

High school in Austin, Minnesota.

Classical A.B. from Carleton college in 1889

1889-1890. Editor of the Weekly Independent at Northfield, Minnesota.

A.B. from Harvard university in 1891.

1892-93. Editor of Clow’s Political Circular and the Literary Northwest.

A.M. from Harvard in 1892.

Ph.D. from Harvard in 1899.

Instructor of economics at Harvard 1893-1895.

Oshkosh Normal 1895 through 1930.

Married Minnie Baldwin at Northfield Minnesota in 1895.

Daughters: Lucia Baldwin Clow (b. 1896) and Bertha Cochrane Clow (b. 1902). Son Nathan Clow (b. ca. 1904)

Summer 1904. Taught economics at the University of Chicago.

Summer 1912. Taught sociology at the university of Michigan.

1927 Quiver (Oshkosh Normal Yearbook) dedicated to Frederick Clow.

Died July 6, 1930. Following nine months’ illness.

Memberships.

National Society for the Study of Educational Sociology
American Economics Association
Philosophical Club
Pi Gamma Mu (National social science honor society)
Phi Beta Kappa (national honorary scholastic fraternity)
Phi Beta Sigma (educational fraternity)

Books:

Introduction to the Study of Commerce (Silver, Burdett and company, 1901).

A Syllabus for an Elementary Course in Economics, 3rd ed. (Castle-Pierce Printing Company, 1908).

Principles of Educational Sociology (Macmillan, 1920)

Book manuscripts completed before death (unpublished?) according to his obituary:

The School and Its Institutional Background

Personology: The Great Synthesis.

 

Source: The Daily Northwestern (Oshkosh, Wisconsin) July 7, 1930 pp. 1,4.

______________________

From Annual President’s Report of Harvard College

1890-1891

Appointed Proctor, June 23, 1891.

Source: Harvard University. Report of the President of Harvard College, 1890-1891. Page 206

 

1892-1893.

Appointed Instructor in Political Economy, June 27, 1893.

Appointed Proctor, June 27, 1893.

Source: Harvard University. Report of the President of Harvard College, 1892-1893. Pages 228-9.

 

1893-1894.

Listed among teachers for Economics 1. Professors Taussig and Ashley, Asst. Professor Cummings and Mr. Clow.

Appointed Instructor in Political Economy, May 28, 1894.

Source: Harvard University. Report of the President of Harvard College, 1893-1894. Page 61; Ibid., 1893-1894. Page 232.

 

1894-95.

Listed among teachers for Economics 1. Professor Ashley, Asst. Professor Cummings, Dr. Cummings, and Mr. Clow.

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

 

1898-1899.

Awarded Ph.D., Political Science.  (Political Economy) in 1899

Frederick Redman Clow.

Public Finance.—A.B. (Carleton Coll., Minn.) 1889, A.B. 1891, A.M. (Carleton Coll., Minn.) 1892, A.M. 1892.—Res.Gr. Stud., 1891-92 and 1893-95.

Teacher of history and Economics, State Normal School, Oshkosh, Wis.

Source: Harvard University. Report of the President of Harvard College, 1898-1899. Page 144.

______________________

Bibliography from Clow’s “Economics as a School Study” (1899)

PREFACE.

The following sources have contributed most of the information given in this paper or used in its preparation:

  1. The books and articles named in the bibliography, especially the Report of the Committee of Ten, and the writings of Professors J. Laurence Laughlin, Richard T. Ely, Edmund J. James, and Simon N. Patten. Much use has been made of an article by Dr. Frank H. Dixon, now of Dartmouth College.
  2. My own experience as a teacher of economics — for two years as instructor in charge of two sections of the beginning class in economics in a university, and for three years in a normal school.
  3. Data in manuscript. In the spring of 1897 I sent out a circular letter of inquiry to over two hundred educational institutions, and to a few university professors. The institutions included medium-sized colleges, public normal schools, and high schools in the larger cities, all so selected as to represent the various sections of the country. To the scores of people who so kindly responded to my inquiries, I am deeply indebted. Dr. Dixon generously allowed me to use a similar mass of material collected by him from schools which prepare students for the University of Michigan, and granted permission to use the data to controvert his own conclusions.

I have tried to include in the bibliography all books and articles relating to economics as a school study, or to methods of teaching economics, and also all text-books now offered by publishers. With a few exceptions, the bibliography is restricted to works published in the United States.

My chief aim has been to promote the further investigation of the place of economics in the school curriculum and of the methods to be employed in teaching it. Therefore much space has been given to the statement of the views of others, even when they conflict with each other and with my own. As far as possible these views are presented in the original words, although the result has been to introduce an excessive number of quotations.

F. R. CLOW.

State Normal School, Oshkosh, Wis.,
May, 1898.

[…]

APPENDIX B.
BIBLIOGRAPHY.

(The date after a title is the author’s date. All books are 12mo. unless otherwise indicated. Prices marked with an asterisk (*) are net; from others discounts will be given to schools or for introduction.)

BOOKS AND ARTICLES ON TEACHING ECONOMICS.

American Economic Association. Economic Studies, Vol. III, No. I, supplement, 50¢. Discussions: The relation of the teaching of economic history to the teaching of political economy, pp. 88-101; methods of teaching economics, pp. 105-111.

Ashley, W. J., of Harvard. On the Study of Economic History, in Quarterly Journal of Economics, VII: 115-136. States the position of the Historical School of Economists.

Barnard’s American Journal of Education, X: 105-115, from the British Almanac for 1860. Describes the work in economics in the school founded by William Ellis at Birbeck, England.

Bullock, C. J. Political Economy in the Secondary School, in Education, XI: 539-47. Excellent discussion of methods.

Clow, F. R. Elementary Economics in Schools and Colleges, in Quarterly Journal of Economics, XII: 73-75. Statistics of schools, teachers, and text-books.

Committee of Ten. Report of the Committee on Secondary School Studies, including the report of the Conference on History, Civil Government and Political Economy, pp. 29, 181-3. Government printing office, Washington, for the United States Bureau of Education. Also by the American Book Co., 25¢. See Appendix A.

Commons, J. R. Political Economy and Sociology in the High School, in The Inland Educator, December, 1895. Favors observational study.

Cossa, Luigi. Introduction to the Study of Political Economy. Macmillan. 1893. pp. 587. $2.60. Treats well the value of economic knowledge and the relation of economics to other studies.

Dixon, F. H., of Dartmouth College. The Teaching of Economics in the Secondary Schools, in the third Year-Book of the National Herbartian Society, pp. 128-137; also in the School Review for January, 1898. Favors substituting economic history for economics in the secondary schools.

Ely, Richard T., of University of Wisconsin. On Methods of Teaching Political Economy, pp. 61-72, in Methods of Teaching and Studying History, edited by G. Stanley Hall. 2d ed., 1885. Heath: Boston. Contains useful practical hints.

________ Political Economy in the High School, in School Education, March, 1895. Treats educational value and methods.

Fulcomer, Daniel. Instruction in Sociology in Institutions of Learning, in report of Commissioner of Education, 1894-5, Vol. II, pp. 1211-1221. A collection of opinions and statistics.

James, Edmund J., of Chicago University. The Education of Business Men: a View of the Organization and Courses of Study in the Commercial High Schools of Europe. The University of Chicago Press, 1898. 8vo. pp. xxi, 232. 50¢. Also in Report of Commissioner of Education, 1895-6, Vol. I, pp. 721-831. A detailed account.

________ Place of the Political and Social Sciences in Modern Education, in Annals, Vol. X, No. 3; also Publications, No. 216. American Academy of Political and Social Science, Philadelphia. 1897. pp. 30. 25¢. A strong article; urges greater prominence for the social sciences, including economics, in all grades of our educational system.

Jostad, B. M. How and What May We Teach of Political Economy in Grades below the High School? Wisconsin Journal of Education, XXIX, 12-14. Suggests several topics.

Keynes, J. N., of Cambridge, England. The Scope and Method of Political Economy. Macmillan. 1890. pp. xiv, 359. $2.25. Though not treating directly of methods of teaching, it gives the best discussion of the nature of economic science that exists in English.

Dunbar, C. F., of Harvard. The Academic Study of Political Economy, in Quarterly Journal of Economics, V: 397-416. Its place in colleges and universities.

Laughlin, J. L., of Chicago University. Teaching of Economics, in Atlantic Monthly, LXXVII: 682-688. Urges teaching of economics in secondary schools. Trenchant criticism of methods.

________ The Study of Political Economy. American Book Co. 1885. 16mo. pp. 153. $1.00. Designed for students and teachers. The best book of the kind. Contains brief bibliography, including French and German works.

Macvane, S. M., of Harvard. The Economists and the Public, in Quarterly Journal of Economics, IX: 132-150. Favors making the study concrete and working from actual facts.

Newcomb, Simon. The Problem of Economic Education, in Quarterly Journal of Economics, VII: 375-399. Discusses the low popular estimate of economic science and shows the value of studying economic theory.

Patten, Simon N., of University of Pennsylvania. Economics in Elementary Schools, in Publications, No. 136. American Academy of Political and Social Science, Philadelphia. 1894. 8vo. pp. 29. 25¢. A philosophical discussion of the ethical value of economic study. Substantially the same ideas are given in a paper by Professor Patten in Addresses and Proceedings of the National Educational Association for 1892, pp. 415-421.

________ The Educational Value of Political Economy, in Publications of the American Economic Association. 8vo. pp. 36. 75¢. Confined to mental discipline; profound and original.

Sherwood, Sidney, of Johns Hopkins University. The Philosophical Basis of Economics, in Annals, Vol. X, No. 2; also Publications, No. 209. American Academy of Political and Social Science, Philadelphia. 1897. 8vo. pp. 35. 35¢. Claims for economics the position of master-science in the group which includes ethics, aesthetics, politics, and sociology.

Taussig, F. W., of Harvard University. The Problem of Secondary Education as regards Training for Citizenship, in Educational Review, XVII: 431-439. Favors teaching economics and explains the poor results so far obtained.

Taylor, W. G. L., of the University of Nebraska. Write Your Own Political Economy, in The Northwestern Monthly, Lincoln, Neb. September, 1898. Each student is to develop economic theory in a series of essays.

Thurston, H. W. The Teaching of Economics in Secondary Schools, in School Review, IV: 604-616. Favors the laboratory method.

Thwing, C. F., President of Western Reserve University. The Teaching of Political Economy in Secondary Schools, in Addresses and Proceedings of the National Educational Association, 1895, pp. 370-374. Shows how the subject can be made intelligible to the young.

 

TEXT-BOOKS.

Andrews, E. B. Institutes of Economics. 1889. Silver, Burdett & Co., Boston, pp. xii, 227. $1.30. New arrangement. Contains references to works in foreign languages. Excessively condensed.

Bowen, F. American Political Economy. 1870. Scribner. 8vo. pp. ix, 495. Formerly a popular text-book for colleges. Protectionist.

Bullock, C. J., of Cornell University. Introduction to the Study of Economics. Silver, Burdett & Co. 1897. pp.511. $1.28. Contains much descriptive matter, bibliography, and references. An excellent all-around text-book.

Cannan, E. Elementary Political Economy. Macmillan. 16mo. 25¢.

Champlin, J. T. Lessons in Political Economy. 1868. American Book Co. pp. 219. 90¢. Gives much attention to the financial question of thirty years ago.

Davenport, H. J. Outlines of Elementary Economics. Macmillan. 1897. pp. xiv, 280. 80¢. Contains excellent pedagogical helps. No descriptive matter is given, and the work is strictly theoretical. New arrangement. The same author has written Outlines of Economic Theory. 1896. $2.00.*

Devine, E. T. Economics. Macmillan. 1898. pp.404. $1.00. Designed as an introduction to the study of social problems.

Ely, R. T., of the University of Wisconsin. Outlines of Economics. 1893. Flood & Vincent, Meadville, Pa., Chautauqua edition, pp. xi, 347, $1.00. Hunt & Eaton, now Eaton & Main, Boston, college edition, 1893, pp. xii, 432, $1.25. Extensively used. Contains questions and references to other authorities. The college edition contains a list of topics for special work and a bibliography.

Fawcett, Mrs. Political Economy for Beginners. Macmillan. 2nd edition, 1872. 18mo. pp. xii, 216. 90¢. An English work for secondary schools. With questions and problems.

Gregory, J. M. New Political Economy. 1882. American Book Co. pp. 394. $1.20. By an experienced teacher. Numerous suggestive diagrams and tables.

Jevons, W. S. Political Economy (Primer). American Book Co. 35¢.

Laughlin, J L. The Elements of Political Economy. 1887. American Book Co. pp. xxiv, 363. $1.20. Contains pedagogical questions at end of each chapter, charts and other descriptive matter, and the same bibliography as the Study of Political Economy. Part II treats of practical questions of the day.

Laveleye, Emil de. The Elements of Political Economy. 1888. Putnams. pp. xxxvii, 288. $1.50. By the eminent French economist. With introduction and supplementary chapter by Professor Taussig.

Macvane, S. M., of Harvard University. The Working Principles of Political Economy. Maynard, Merrill & Co. 1889. pp. x, 392 $1.00. Intended for high schools, “with a constant eye on actual affairs.”

Mason and Lalor. The Primer of Political Economy. 1875. McClurg, Chicago, pp. 67. 60¢. Definitions and propositions to be memorized.

Newcomb, Simon. Principles of Political Economy. Harper. 1885. pp. xvi, 548. $2.50. Purely theoretical; contains pedagogical questions. Some portions are unsurpassed for clearness.

Perry, A. L., of Williams College. Principles of Political Economy. Scribner. 1898. pp. 600. $2.00. New arrangement. Nearly thirty years ago the same author wrote Elements of Political Economy and Introduction to Political Economy, which are still in use as text-books.

Seligman, E. R. A., of Columbia. Elements of Political Economy; with Special Reference to American Conditions. In preparation. Longmans, Green & Co.

Steele, G. M. Rudimentary Economics. 1891. Leach, Shewell & Sanborn, now Sibley & Ducker. pp. xvi, 213. 80¢. Based on Carey. Suitable for high schools. Simple enough to use as a reader.

Symes, J. E., of England. Political Economy. Longmans, Green, & Co. pp. 204. 90¢.* With problems for solution and hints for supplementary reading.

Thompson, R. E. Political Economy. 1895. Ginn. pp. 108. 55¢. Intended for secondary schools. Protectionist.

Thurston, H. W. A Beginner’s Book in Economics and Industrial History. In preparation. Scott, Foresman & Co. Part I, a laboratory study of existing economic structure. Part II, economic history of England and the United States. Part III, theory. Based on the author’s experience in a high school. Discusses methods of teaching and contains much pedagogical matter; also bibliography.

Walker, F. A. Political Economy. Holt. Briefer course, 1884, pp. 415, $1.20.* Advanced course, 3rd ed., 1887, pp. 537, $2.00.* First Lessons in Political Economy. pp. x, 323. $1.00. Contain the author’s peculiar view of distribution. Were the most popular text-books in existence for a decade.

 

Source: Frederick Redman Clow, A.M. Economics as a School Study. Economic Studies, Vol. IV, No. 3 (June, 1899), pp. 242-246

Image Source: Faculty portrait of Frederick R. Clow in Quiver, Yearbook of Oshkosh Normal School 1906, p. 16.

 

Categories
Harvard Suggested Reading Syllabus Undergraduate

Harvard. Junior tutorials in economics. Smithies and Chamberlin, 1960-61

 

The previous post is a Harvard Crimson article that reported on a major re-evaluation of the undergraduate economics program in 1959. The place of the junior tutorial was described as follows:

“The analytic material ejected from Ec. 1 has found refuge in Sophomore tutorial, while Ec. 98 (Junior tutorial) although heavily biased towards the empirical is the only course in the Department offering an overall view of the field.”

_____________________________

Course Enrollments

[Economics] 98a Tutorial for Credit—Junior Year. Professor Smithies. Half course, Fall.

Total 65: 11 Seniors, 48 Juniors, 2 Sophomores, 4 Radcliffe.

[Economics] 98b Tutorial for Credit—Junior Year. Professor Chamberlin. Half course, Spring.

Total 61: 13 Seniors, 46 Juniors, 2 Radcliffe.

Source: Harvard University. Report of the President of Harvard College, 1960-61. Page 75.

_____________________________

HARVARD UNIVERSITY
Department of Economics
Fall 1960

Economics 98a
MACROECONOMICS
Professor Smithies

Reading List

  1. The English Classical System

Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Book I, chs. 1, 2, 3; Book II; Book IV, chs. 1, 3, 8.

David Ricardo, Principles of Political Economy, chs. 2-6, 21.

W. J. Baumol, Economic Dynamics, ch. 2.

Malthus, T. R., An Essay on the Principle of Population (1st & 2nd editions), Macmillan, London, 1914.

Malthus, T. R., Principles of Political Economy, Book II, ch. I, “On the Process of Wealth.”

  1. Marxian Dynamics

M.M. Bober, Karl Marx’s Interpretation of History, chs. 1-3 and 9-13.

P. Sweezy, The Theory of Capitalist Development, chs. 4-6, 8, 9.

Suggested:

Joan Robinson, An Essay on Marxian Economics.

J. A. Schumpeter, Capitalism, Socialism, and Democracy, Part I.

  1. The Neo-Classical School and the Schumpeterian System

J. A. Schumpeter, The Theory of Economic Development.

____________, Business Cycles, Vol. I, chs. 3, 4.

____________, Capitalism, Socialism, and Democracy, Part II.

A. Marshall, Principles of Economics, Book VI, chs. 12, 13, Appendixes A, C, D.

Suggested:

A. A. Young, “Increasing Returns and Economic Progress,” Economic Journal, December 1928, reprinted in R. V. Clemence (ed.) Readings in Economic Analysis, Vol. 1.

R. Solow, “A Contribution to the Theory of Economic Growth,” QJE, Feb. 1956.

A. Smithies, “Productivity, Real Wages, and Economic Growth,” QJE, May 1960.

  1. Keynesian Economics.

J. M. Keynes, The General Theory of Employment, Interest, and Money, chs. 3, 19, 22-24.

A. Hansen, Monetary Theory and Fiscal Policy, chs. 3-6.

L. Klein, The Keynesian Revolution, ch. 3.

Suggested:

Income, Employment and Public Policy, “Essays in Honor of Alvin H. Hansen”, chs. 1, 5, 6.

S. E. Harris (ed.), The New Economics, chs. 39, 40.

  1. Business Cycles.

A.H. Hansen, Business Cycles and National Income, chs. 11-24.

Tinbergen and Polak, The Dynamics of Business Cycles, ch. 13.

  1. Business Cycles and Economic Growth.

E. Domar, “Expansion and Employment,” American Economic Review, March 1947, also reprinted in Essays in the Theory of Economic Growth, ch. IV.

A. Smithies, “Economic Fluctuations and Growth,” Econometrica, January 1957.

Wm. Fellner, “The Capital-Output Ratio in Dynamic Economics,” in Money, Trade, and Economic Growth (Essays in Honor of J. H. Williams).

  1. Inflation.

Bernstein and Patel, “Inflation in Relation to Economic Development,” International Monetary Fund, Staff Papers, Nov. 1952.

Kenneth K. Kurihara, Post-Keynesian Economics, ch. 2.

Staff Report on Employment, Growth, and Price Levels, Joint Economic Committee, Congress of the U.S., December 24, 1959, ch. 5.

  1. Economic Analysis and Economic Policy.

J. Tinbergen, Economic Policy: Principles and Design, chs. 1, 2, 3.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 7, Folder “Economics, 1960-1961 (1 of 2)”.

_____________________________

HARVARD UNIVERSITY
Department of Economics

Economics 98b
MICROECONOMICS
Spring 1961

Professor Chamberlin

Week of Tuesday

Feb. 7

Markets, Perfect and Imperfect
Chamberlin, Monopolistic Competition, Chapter II, including note on Deviation from Equilibrium.

Feb. 14, 21

General Relations of Demand, Supply, Cost and Value
Marshall, Principles, Book V, Chapters 1-11, Appendix H.

Robinson, Joan, “Rising Supply Price,” Economica, New Series VIII, (1941). (Also in AEA Readings in Price Theory, Vol. VI, and in Robinson, Joan, Collected Economic papers).

Feb. 28

The Production Function and the Cost Curve of the Firm
(No lecture)

Boulding, Economic Analysis, Third Edition, chapters 28, 34, or revised edition, Chapters 24, 31 to p. 698.

Monopolistic Competition, 6th or 7th edition, Appendix B. (Also in Towards a More General Theory of Value, Essay 9.)

Mar. 7, 14

General Analysis of Monopolistic Competition. Product Differentiation. The Group
Monopolistic Competition, Chapters 1, 4, 5, 9.

Chamberlin, “Monopolistic Competition Revisited,” Towards a More General Theory of Value, Essay 3.

Robinson, Joan, Imperfect Competition, Foreword, Introduction, Chapters 1, 2.

Triffin, Monopolistic Competition and General Equilibrium Theory, pp. 78-89.

Mar. 21

Oligopoly
Monopolistic Competition, Chapter 3, Appendix A.

Fellner, Competition Among the Few, Chapter 1.

Arant, Willard, “Competition of the Few Among the Many,” QJE, 70:327 (1956).

Clark, J.M., “Toward a Concept of Workable Competition,” AER, 1940. (Also in AEA Readings in Price Theory)

Suggested: Fellner, further chapters.

Mar. 28

Nonprice Competition
“The Product as an Economic Variable,” Towards a More General Theory of Value, Essay 6.

Monopolistic Competition, Appendix C, Chapters 6, 7.

Apr. 2-9

SPRING VACATION

Apr. 11, 18, 25,
May 2

 Microincome Theory, Wages, Exploitation, Collective Bargaining
Hicks, The Theory of Wages, Chapters 1, 2, 4.

Robertson, “Wage Grumbles,” Readings in Income Distribution, No. 12.

Robinson, Imperfect Competition, Chapter 25.

Monopolistic Competition, (5th or later edition), Chapter 8; pp. 215-18.

Chamberlin, “Monopoly Power of Labor,” Towards a More General Theory of Value, Essay 12.

Dunlop, “Wage Policies of Trade Unions,” Readings, No. 19.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 7, Folder “Economics, 1960-1961 (2 of 2)”.

 _____________________________

ECONOMICS 98b—PAPER
[Spring 1961]
Due any time, but not later than May 9.

The purpose of this paper is to give an opportunity for a bit of “theorizing” of your own. The paper may be either constructive or critical, but the emphasis should be on your own contribution, rather than on developing the subject more generally, or expounding it mainly in terms of the ideas and views of others.

The ideal subject would be chosen by yourself—either an adverse reaction to, or further development of: something said in lectures, in the assigned or related reading, or in tutorial discussions. A rounded treatment or essay on the subject is not desired—rather something in the nature of a “Note” (say for the Quarterly Journal), which would either present an idea of its own or criticize one which has been presented by someone else. (A good illustration of this latter is Essay 13 in Towards a More General Theory of Value.) Brevity is therefore desirable. Papers should normally be from six to twelve pages (typed, double spaced), with fifteen as an absolute limit. Extensive reading is not indicated; (in an extreme case there might even be none at all), but a great deal of time should be given to thinking through carefully what you want to say.

The accompanying list of topics is suggestive only; as stated above, one chosen by yourself might be better. In any case your subject should be approved; and the question of reading should be taken up with your tutor.

SUGGESTED TOPICS

Some further analysis of the classroom market problem, or of a variation on it. (Material between page 236 to the end in the article as printed would illustrate further developments from the original problem.)

Marginal cost pricing as against Marshall’s short run normal analysis.

The Representative Firm Revisited.

Comment on Modigliani’s article: “New Developments on the Oligopoly Front,” JPE 66:215 (1958).

Mr. Kaldor’s concept of advertising cost. (“The Economic Aspects of Advertising,” Review of Economic Studies, Vol. XVIII (1) No. 45.)

Some aspect of spatial equilibrium.

A review of Machlup, “Marginal Analysis and Empirical Research,” AER, Sept. 1946.

Review of Gottlieb, “Price and Value in Industrial Markets,”Economic Journal, March 1959.

Is equilibrium with external economies possible under perfect competition? Under monopolistic competition?

Temporal Differentiation.

Some aspect of empirical cost curves.

“Bilateral Oligopoly”—Big Business and Big Labor.

Measures which might be taken to reduce “excess capacity.”

A critique of Stigler’s “Monopolistic Competition in Retrospect,” in his Five Lectures on Economic Problems.

“‘Entry’ is often not the literal appearance of a new firm, but the decision of an old one to add the new product to its line.” What effect would this have on the conventional analysis?

“Conjectural Variation” as a solution to oligopoly.

How would more attention to sales maximization and less to profit maximization affect the analysis?

Deliberate product obsolescence: Implications for public policy.

The Lester-Machlup controversy over the wage elasticity of the demand for labor.

Comment on “Some Basic Problems in the Theory of the Firm” by Papandreou in A Survey of Contemporary Economics, Vol. II.

If the concept of a “group” were to be abandoned, following Triffin, what would happen to the analysis in Chapter 5?

Review of Alchian, “Uncertainty, Evolution and Economic Theory,” JPE 1950; also in AEA Readings in Industrial Organization and Public Policy.

The Economic Analysis of Industry-Wide Advertising.

My Own Grumbles on Wages. (Suggested by the title of Roberson’s article assigned later in the course.)

The case for assuming imperfect, instead of perfect, knowledge in economic theory.

Stigler on the Kinked Demand Curve. (“The Kinky Oligopoly Demand Curve and Rigid Prices,” AEA Readings in Price Theory, and criticism by Efroymson in QJE 69:119 (1955).

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003.Box 7, Folder “Economics, 1960-1961 (1 of 2)”.

Image Source:  John Simon Guggenheim Memorial Foundation website. Arthur Smithies (1955 Fellow), Edward H. Chamberlin (1958 Fellow).