In the previous post, we encountered Martin Bronfenbrenner who was the first choice on a short-list for a position to be filled at Columbia College. In his papers archived at the Duke University Economists’ Papers Project we find a mimeographed copy of the exam for Business Cycle Theory, Economics 332 dated December 21, 1938. Since Bronfenbrenner was a graduate student at the University of Chicago then and the course number and title exactly coincide with those of the course offered by Oskar Lange in the Autumn Quarter 1938 that ended precisely on December 21, we can confidently match the exam below to Lange’s Business Cycle Theory course.
From The University of Chicago, Announcements,Vol. XXXVIII, No. 7. The College and the Divisions for the Sessions of 1938-39. (p. 325):
E. FINANCE AND FINANCIAL ADMINISTRATION
[…]
332. Business Cycle Theory.–Historical and systematic analysis of business cycle theory. The main types of explanation. Equilibrium theory and analysis of economic processes. The role of time in the analysis of economic processes. The significance of anticipations. Theoretical and observed fluctuations. The factors which determine the general level of output and employment. The fluctuations of investment and of employment. The role of technical progress. Business-cycle policy. Prerequisite: Economics 211, 301, and 330, or their equivalents. Autumn, 1:30, LANGE.
[Highlighted text was not included in the course description from the 1942 Announcements]
________________________________
December 21, 1938
ECONOMICS 332
Business Cycle Theory
- State Say’s law and explain under what monetary conditions it does or does not hold good.
- (1) What definition of saving makes saving always equal to investment?
(2) Indicate two definitions of saving such that saving may differ from investment and explain the meaning of this difference in each case.
(3) Give two possible meanings of the term ‘hoarding.’ - Explain briefly Mr. Keynes’ doctrine concerning:
(1) the effects on employment of a general and uniform change in money wages
(2) the effects on total employment of relative changes in money wage rates - Is there any theoretical justification for dividing the business cycle into four phases? Discuss the problem on hand of any theory of the business cycle you like to choose.
Source: Duke University, Rubenstein Rare Book & Manuscript Library, Martin Bronfennbrenner Papers, 1939-1995, Box 24, c.1, Folder “Exams. Macro-econ cycles & fiscal policy 1951-76. 1 of 3”.
Image source: Wikipedia/commons.