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Harvard. Final exam for Economic Trends and Fluctuations. Haberler, 1932.

Portr‰t des Haberler, Gottfried [1900-1995]

 

Gottfried Haberler taught two courses as a visiting lecturer at Harvard in 1931-32. His mid-year exam for Economics 15 Problems in Economic Theory was transcribed and posted earlier.

I have not (yet) found a syllabus for his one-semester business cycle course, but judging from the titles assigned for the reading period, he was clearly serving a Viennese melange of business cycle theories. 

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Course Enrollment

Primarily for Graduates:—

III. Applied Economics

[Economics] 37 1hf. Dr. Haberler. — Economic Trends and Fluctuations.

Total 7: Graduates 7.

Source: Harvard University. Report of the President of Harvard College, 1931-1932, p. 72.

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Reading Period
Jan 4-20, 1932

Economics 37.

Schumpeter, J.: The Explanation of the Business Cycle, in “Economica”, Vol. 7, 1927.

Hayek, F.A.: Prices and Production, London, 1931.

Robertson, D.H.: Banking Policy and the Price Level.

Suggestions for further reading:

Hayek, F.A.: Geldtheorie u. Konjunkturtheorie, Vienna, 1929. [1932 translation by N. Kaldor and H.M. Croome]

Mises, L.: Theorie des Geldes u. der Umlaufmittel, Pt. III, Ch. 5, “Geld, Umlaufmittel u. Zins”.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 2. Folder: “Economics, 1931-32”.

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1931-32
HARVARD UNIVERSITY
ECONOMICS 37

Students may use any books or notes they wish.

Answer FIVE of these six questions.

  1. The relation of the rate of interest and prices according to (a) Irving Fisher, (b) Knut Wicksell, and (c) R. G. Hawtrey. State whether these different views are compatible with each other in your opinion.
  2. What is the influence of a credit expansion on the structure of production?
  3. Criticize the “monetary” theory of the business cycle as developed by R. G. Hawtrey.
  4. A. Hayek and J. Schumpeter have the notion that the upward swing of the business cycle is characterized by an increase of the “roundaboutness” of production. What is the difference between their theories and why do they reach different conclusions as to the essence of depression?
  5. What is the difference between D. H. Robertson’s and F. A. Hayek’s theory of the business cycle?
  6. It is frequently said that an individual can use up his capital, but that this is impossible—excepting physical destruction by a war or an earthquake—for a closed economy because, if one person sells a piece of his capital equipment, it necessarily accrues to somebody else. What do you think of this?

Source: Harvard University Archives. Harvard University, Mid-year examinations, 1852-1943. Box 12, Bound volume: Examination Papers, Mid-years, 1931-32.

Image Source: Link to Österreichische Nationalbibliothek record.