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.
- 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.
- How do they reach this conclusion?
- Explain why this condition is not required in the neo-classical model of economic growth.
- “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.
- 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.
- What factors should be considered in determining investment criteria for poor countries?
- Discuss and appraise the arguments for tariff and exchange control policies in the poor countries.
- Explain the following concepts:
- the vicious circle of poverty
- disguised unemployment
- balanced growth
- 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.