While Frank Taussig was off serving the country as the chairman of the United States Tariff Commission, his advanced economic theory course (Economics 11) was jointly taught by his colleagues Charles Bullock and Thomas Nixon Carver. The Harvard Archives collection of final examinations only has the June final examinations that are transcribed below, i.e., the first semester examinations from January have not been included (at least for now). It is also not clear whether the course was jointly taught both semesters or whether each colleague took a semester. The semester by semester exams for this course up to these years can be found in a series of earlier posts. Here is the most recent of the posts for Economics 11 à la Taussig up to the first term of 1916.
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COURSE DESCRIPTION
(Identical for 1917/18 and 1918/19)
Primarily for Graduates
I
ECONOMIC THEORY AND METHODS
[Economics] 11. Economic Theory. Mon., Wed., Fri., at 2.30. Professors Carver and Bullock
Course 11 is intended to acquaint the student with the development of economic thought since the beginning of the nineteenth century, and at the same time to train him in the critical consideration of economic principles. The exercises are conducted mainly by the discussion of selected passages from the leading writers; and in this discussion the students are expected to take an active part. Special attention will be given to the writings of Ricardo, J.S. Mill, Cairnes, and among modern economists to F.A. Walker, Clark, Marshall, and Böhm-Bawerk.
Source: Official Register of Harvard University (Vol. XV, No. 23), May 10, 1918. Division of History, Government, and Economics 1918-19, p. 63.
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Course Enrollment
1917-18
[Economics] 11. Professors Carver and Bullock.—Economic Theory
Total 11: 8 Graduates, 2 Graduate Business, 1 Radcliffe
Source: Harvard University. Reports of the President and Treasurer of Harvard College, 1917-1918, p. 54.
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Final examination
(Second semester 1917-18)
ECONOMICS 11
- What elements in the economic system of Adam Smith were derived from previous systems of economic thought?
- What were the principal new contributions which were made by the Wealth of Nations?
- Trace the history of theories of business profits in the writings of Smith, Ricardo, Mill, Walker, and Marshall.
- Compare the theories of value presented by Smith, Ricardo, and Mill.
- What ideas concerning the probably future of the laboring classes were entertained by Smith, Ricardo, and Mill?
- Compare Smith’s views concerning rent with those of Ricardo, and then compare Mill’s statement of the theory of rent with Ricardo’s statement.
- What old and what new elements are found in the economic theories of Mill?
- From your own point of view, criticize Mill’s theory of value.
Source: Harvard University Archives. Examination Papers 1918 (HU 7000.28, 60). Harvard University Examinations. Papers Set for Final Examinations in History, History of Religions, History of Science, Government, Economics,…, Fine Arts, Music in Harvard College, June, 1918, pp. 49-50.
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Course Enrollment
1918-19
[Economics] 11. Professors Carver and Bullock.—Economic Theory
Total 7: 6 Civ., 1 Mil.
II, III. Total 11: 9 Graduates, 1 Senior, 1 Other.
Source: Harvard University. Reports of the President and Treasurer of Harvard College, 1918-1919, p. 52.
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Final examination
(Second semester 1918-19)
ECONOMICS 11
Omit any one question
- Compare Smith’s views concerning the importance of different industries with those of the Mercantilists.
- What elements in the economic thought of Adam Smith were derived from earlier writers?
- What were Smith’s distinctive contributions to economic thought?
- Compare Smith’s theory of value with that of Ricardo.
- Compare Smith’s theory of distribution with that of Ricardo.
- Compare Mill’s theories of production and distribution with those of Ricardo and Smith.
- Give an account of the historical development of the law of diminishing returns.
- Compare Smith’s and Ricardo’s theories of international trade.
Source: Harvard University Archives. Examination Papers 1919 (HU 7000.28, 61). Harvard University Examinations. Papers Set for Final Examinations in History, History of Science, Government, Economics,…, Fine Arts, Music in Harvard College, June, 1919, pp. 29-30.