An earlier post provided the reading list for a course taught at Harvard by Philip Durgan Bradley, Jr., Economics 38b “Economic Problems of Latin America” in the Spring Term of 1944. In the meantime, I have found a copy of the exam that I have transcribed for this post.
A few years and a course number change later, Bradley taught a course with the title “The Economy of Latin America” (Econ 14b). The reading list provided for the course in the spring semesters of 1948 and 1949 were identical except for a single item and is provided below as are the final examination questions from 1948 and 1949.
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Final Exam, June 1944
1943-44
HARVARD UNIVERSITY
ECONOMICS 38b
One hour
- “Variations in the international balance of payments are the principal factors determining the level of economic activity is the Latin American area.” What were the principal variations in the Latin American balance of payments during the period 1923-43? In what specific respects and by what means did these variations in the balance of payments affect the internal level of economic activity in the Latin American countries during this period? (Treat the area as a whole.) Do you agree that the above quotation is substantially correct?
Choose ONE question. 50 minutes
- The returns earned on United States Direct Investments guarantee two things for the future: (1) a substantial share of total private United States capital sent abroad in any year will go to Latin America and (2) every country and every major type of industry in Latin America will be assured of an adequate future flow of United States private capital. Discuss.
- “One essential difference between petroleum and mineral products on the one hand and the products of agriculture and industry on the other consists of the fact that the former products represent the exploitation of non-replaceable, wasting-assets while the latter do not. The domestic requirements for petroleum and mineral products in industrially backward countries are small, and these products are produced primarily for export purposes. The continued or increased exploitation of these wasting-assets for export purposes constitutes a drain upon the national wealth which must necessarily prevent the realization of higher levels of national income in such countries.” Discuss, including a statement of your agreement or disagreement with the foregoing conclusion.
Choose TWO. 35 minutes each
- “The high cost of living in Venezuela is a direct consequence of that nation’s petroleum policy.” Discuss.
- What were the principal objectives of the Brazilian coffee control programs? Of the Inter-American Coffee Agreement? Do you believe that an international approach to coffee control promises more hope of success than the methods used in the past? Explain your answer to this last question.
- Discuss what you consider to be the more important economic consequences of the land tenure system in Latin America.
- Write an essay on the principal topics discussed in your reading period selection.
Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001. Box 9, Papers Printed for Final Examinations, History, History of Religions,…Economics,…, Military Science, Naval Science. June, 1944.
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Enrollment 1948
[Economics] 14b. Assistant Professor Bradley.—The Economy of Latin America (Sp.)
Total 49: 1 Graduate, 24 Seniors, 16 Juniors, 6 Sophomores, 1 Business School, 2 Radcliffe.
Source: Harvard University. Report of the President of Harvard College, 1947-48, p. 89.
Enrollment 1949
[Economics] 114 (formerly Economics 14b). Assistant Professor Bradley.—The Economy of Latin America (Sp.)
Total 58: 1 Graduate, 26 Seniors, 23 Juniors, 4 Sophomores, 1 Public Administration, 1 Business School, 2 Radcliffe.
Source:Harvard University. Report of the President of Harvard College, 1948-49, p. 76.
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“Short” Reading List
Economics 14b
Spring Term, 1949
[mimeographed copy]
Readings related to Latin American economic problems+
- Royal Institute for International Affairs, Republic of South America, Chs. 1 and 2.
- George Soule, Efron and Ness, Latin America in the Future World, Chs. 1-6.
- L. Schurz, Latin America, pp. 155-178.
- H. Barber, “Land Problems in Mexico,” Foreign Agriculture, Vol. III, pp. 99-120.
- M. McBride, Chile: Land and Society, Ch. 5.
- George Wythe*, Industry in Latin America, Part I, Part II—Choose one: Argentina, Brazil or Mexico, Part III.
- M. Phelps, Migration of Industry to South America, Chs. 2, 4, 7.
- T. Ellsworth*, Chile: An Economy in Transition.
- Triffin, R., “Central Banking,” Ch. 4 in Economic Problems of Latin America, ed. By S. E. Harris.
- Robert Triffin, Money and Banking in Colombia, pp. 1-33.
- C. Wallich, “Cuba: Sugar and Currency,” Ch. 14 in Economic Problems of Latin America.
- Central Bank of Argentina, Annual Reports(from 1935).
- Spiegel, H. W., The Brazilian Economy.
* To be purchased
+ Other readings of a more general nature may be assigned later.
[Note: the “short” reading list for 1948 was identical except for the last item by H. W. Spiegel that was not included.]
Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 4, Folder “Economics, 1948-1949 (1 of 2).
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“Long” reading list
Economics 14b
Spring Term, 1948
[carbon copy]
- Royal Institute for International Affairs, Republic of South America. [Chs. 1 and 2]
- M. McBride, Chile: Land and Society.
- L. Schurz, Latin America.
- George Soule, Efron and Ness, Latin America in the Future World. [Chs. 1-6]
- Foreign Agriculture, Vols. II, III.
- D. Wickizer, The World Coffee Economy.
- George Wythe, Industry in Latin America.
- Lloyd D. Hughlett, Industrialization of Latin America.
- W. Cooke, Brazil on the March.
- M. Phelps, Migration of Industry to South America.
- T. Ellsworth, Chile: An Economy in Transition.
- Economic Problems of Latin America, edited by S. E. Harris.
- N. Simpson, The Ejido.
- J. Brown, Industrialization and Trade.
- Olson and Hickman, Pan American Economics.
- Robert Triffin, Money and Banking in Colombia.
- Central Bank of Argentina, Annual Reports(from 1935).
- S. Tariff Commission, Foreign Trade of Latin America.
- American Advisory Economic Mission to Venezuela, Report to the Minister of Finance.
- G. Hanson, Utopia in Uruguay.
- Ernesto Galarza, Labor Trends and Social Welfare in Latin America.
- Virgil Salera, Exchange Control and the Argentine Market.
- S. Buchanan and Fred A. Lutz, Rebuilding the World Economy.
- L. Phelps, International Economic Position of Latin America.
- H. Williams, Argentine International Trade under Inconvertible Paper.
- Feuerlein and E. Hannan, Dollars in Latin America.
- M. Phelps, Economic Relations with Latin America.
- Cleona Lewis, America’s Stake in International Investment.
- F. Bain and T. T. Read, Ores and Industry in South America.
- Edgar Turlington, Mexico and Her Foreign Creditors.
- F. Rippy, Latin America and the Industrial Age.
- Fortune, March, 1933; December, 1935; January, 1942.
- Enke and V. Salera, International Economics.
- Triffin, Monetary and Banking Reform in Paraguay.
Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 4, Folder “Economics, 1947-1948 (1 of 2).
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Final exam, May 1948
1947-48
HARVARD UNIVERSITY
ECONOMICS 14b
Part I
Answer BOTH questions. One hour each.
- Develop the evolution of Argentine monetary policy in response to the course of the trade cycle in the period from 1936 to 1945. Evaluate the success or failure achieved through the execution of monetary policy and provide an explanation for the results attained.
- Write an essay on “the determinants of economic progress in Venezuela.” Extract from your discussion and state in summary fashion those economic principles which you believe constitute conditions of economic progress in all nations.
Part II
Choose TWO. 30 minutes each.
- Would you as the manager of a firm incorporated in the United States build a branch plant in Argentina, Brazil, or Chile? Base your answer upon an analysis of our experience with branch plants in that area. (Do notselect this question if you are a citizen of a Latin American country.)
- Would you as a citizen of Argentina, Brazil, or Chile favor or oppose the construction of additional branch plants owned by firms incorporated in the United States of America? Base your answer upon an analysis of the experience of those countries with branch plants. (Do notanswer this question unlessyou are a citizen of a Latin American nation.)
- Describe the problems encountered and the policies pursued in the Argentine securities market in the period 1936-1944.
- Analyze, as an economist, the objectives of Chilean Development (Fomentao) Corporation and the powers granted to the Corporation for the realization of those objectives.
- Explain in the most fundamental terms possible the economic significance of imports to any Latin American country now endeavoring to promote economic development.
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.
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Final Exam, June 1949
1948-49
HARVARD UNIVERSITY
ECONOMICS 114b
(Three hours)
I.
Write on BOTH the following questions. One hour each.
- Compare the economic experiences and policies of two of the following countries in the period 1929-1934: Argentina, Brazil, Chile, and Colombia. Was recovery in any one of these nations to be imputed to the economic policies adopted? Include in your discussion a description of the forces which generated economic events during this period.
- Explain as fully as you can the causes of the difference between the rates of economic development in the United States and in any one major Latin American nation.
II.
Write on TWO of the following topics. Thirty minutes each.
- The justification for policies of monetary autonomy in Latin America. Choose one country for illustrative purposes.
- The present economic situation in Argentina is to be explained in terms of international factors.
- Government deficit finance as a method for increasing living standards in Latin America.
- The considerations that would guide you as a United States business man in deciding whether or not to do business in Latin America. Which country is the most attractive from this standpoint?
Source: Harvard University Archives. Harvard University. Final Examinations, 1853-2001. Box 16, Papers Printed for Final Examinations, History, History of Religions,…Economics,…, Military Science, Naval Science. June, 1949.