Before heading off to the pastures of retirement, Harvard’s Arthur Eli Monroe taught a year-long undergraduate intermediate economics course, Economic Theory and Policy. His syllabi for 1947-48 show a serious attempt to weave contemporary textbook material with readings from major contemporary works and links to the history of economics.
A less than serious attempt was made, it appears to me, in writing the questions for the final examination for the two terms. They appear to be of the give-the-student-enough-rope-to-hang-himself variety.
More biographical information for Monroe can be found in the earlier posting:
Harvard. Undergraduate Economic Theory (Shorter Course). Monroe, 1937-8
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Monroe’s 1948 AEA Listing
Monroe, Arthur Eli, 5 Concord Ave., Cambridge 38, Mass. (1915) Retired, teach., edit.; b. 1885; A.B., 1908, A.M., 1914, Ph.D., 1918, Harvard. Fields 1ab, 7, 9. Doc. dis. Monetary theory before Adam Smith(Harvard Univ. Press, 1923). Pub. Early economic thought (1924), Value and income (1931) (Harvard Univ. Press); “Demand for labor,” Q.J.E., 1933. Dir. W.W. in Amer.
Source: American Economic Association, Alphabetical List of Members (as of June 15, 1948). The American Economic Review, Vol. 39, No. 1 (January 1929), p. 131.
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Course Staffing and Enrollments: Economics 1a and 1b, 1947-48
[Economics] 1a. Dr. Monroe.—Economic Theory and Policy (F)
Total 74: 1 Graduate, 45 Seniors, 19 Juniors, 2 Sophomores, 6 Radcliffe, 1 Other.
[Economics] 1b. Dr. Monroe.—Economic Theory and Policy (Sp)
Total 46: 2 Graduates, 38 Seniors, 3 Juniors, 3 Radcliffe.
Source: Report of the President of Harvard College and Reports of the Departments for 1947-48, p. 89.
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Harvard University
Economics 1a
Fall Term — 1947-48
J. F. Due: Intermediate Economic Analysis*, Chs. I – IV, incl.
G. J. Stigler: Theory of Price, Chs. 5, 6.
N. Kaldor: Economic Journal, March, 1934. [The equilibrium of the Firm, Vol. 44, No. 173, pp. 60-76.]
A. E. Monroe: Value and Income, Ch. XV.
HOUR EXAMINATION—October 30.
Due: Intermediate Economic Analysis, Chs. V, VI.
K. E. Boulding: Economic Analysis, Chs. 24, 25.
E. H. Chamberlin: Monopolistic Competition, Chs. III, V.
Joan Robinson: Economics of Imperfect Competition, Chs. 17, 18, 19.
HOUR EXAMINATION—December 4.
Chamberlin: Monopolistic Competition, Chs. VI, VII.
R. Triffin: Monopolistic Competition…pp. 78-108.
READING PERIOD—One of the following:
A. Gray: Development of Economic Doctrine, Chs. III – X, incl.
P. T. Homan: Contemporary Economic Thought, Essays on Veblen, Marshall, Mitchell
A. G. B. Fisher: Class of Progress and Security, Chs. I – VIII, incl.
Conference periods: Saturdays, 9:30 – 12:30, Littauer M-14.
*Authorized for Veterans’ purchase.
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Economics 1b
Spring Term — 1948
J. F. Due: Intermediate Economic Analysis*, Chs. 8, 11.
J. B. Clark: Distribution of Wealth, Chs. 11, 12.
J. R. Hicks: Theory of Wages, Chs. 1, 4, 6.
A. E. Monroe: Quarterly Journal of Economics, August, 1933. [The Demand for Labor, Vol. 47, No. 4, pp. 627-646.]
E. H. Chamberlin: Theory of Monopolistic Competition, Ch. 8
HOUR EXAMINATION—March 4.
J. F. Due: Intermediate Economic Analysis, Chs. 9, 10.
E. v. Böhm-Bawerk: Positive Theory of Capital, Book V.
A. E. Monroe: Value and Income, Ch. 8.
J. M. Keynes: General Theory of Employment…, Chs. 13, 15.
C. R. Bye: Developments…in the Theory of Rent, Chs. 1, 2, 3.
HOUR EXAMINATION—April 15.
J. F. Due: Intermediate Economic Analysis, Ch. 12.
F. H. Knight: Risk, Uncertainty and Profit, Chs. 8, 9.
*READING PERIOD—One of the following:
A. G. Gruchy: Modern Economic Thought, Chs. 5, 7, 8.
Theodore Morgan: Income and Employment, Chs. 1 – 15, incl.
Henri Sée: Modern Capitalism
CONFERENCE PERIODS: Saturdays, 9:30 – 12:30, Littauer M-14.
*Authorized for Veterans’ purchase.
Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 4, Folder “Economics, 1947-48 (1 of 2)”.
Image Source: Harvard Album, 1942.