Categories
Courses Harvard Suggested Reading Syllabus

Harvard. Junior Year Economic Theory, Chamberlin. 1940

 

 

The last time the undergraduate course Economics 1 (Economic Theory) was offered as a full year course (1939-40), it was taught as an honors course by Professor Edward Chamberlin, Associate Professor Wassily Leontief and Instructor O.H. Taylor. Starting in the academic year 1940-41, Harvard’s Economics 1 was split into back-to-back semester courses Economics 1a (Chamberlin: Economic Theory) and 1b (Taylor: The Intellectual Background of Economic Thought). Two years later the second semester course 1b was taught by Professor Haberler and Associate Professor Leontief under the title “Theory of Production and Distribution of the National Income” (1941-42).

________________________________

Course Enrollment

*1a 1hf. Professor Chamberlin.—Economic Theory.

Total 63: 1 Senior, 56 Juniors, 6 Sophomores.

 

Source: Report of the President of Harvard College and Reports of Departments for 1940-1941, p. 58.

________________________________

ECONOMICS 1a
1940-41
Revised Outline

  1. The Law of Supply and Demand. Meaning and Generality. Relation to the Law of Cost. Cost curves and supply curves. Relation to monopoly and to competition. Pure and perfect competition. Market problem illustrating deviations from “equilibrium” as defined by perfect competition. Equilibrium vs. the equation of supply and demand.

Mill—Principles, Book III, chapters 2, 3, 5.
Chamberlin—Monopolistic Competition, chapters 1, 2.
Henderson—Supply and Demand, chapters 1,2.
Marshall—Principles, pp. 348-350; p. 806 note.

  1. Competitive theory, illustrated by Marshall.

Marshall—Principles, Book V, chapters 1-5; book IV, chapter 13; Book V, chapters 8, 9, 10, 12.

  1. The effect of small numbers in the market.

Monopolistic Competition, Chapter 3.

  1. Product differentiation. Co-existence and blending of monopoly and competition. Output (sales) as a function of price, “product” and selling outlays. Price-quantity relationships examined in some detail, selling costs and products as variables more briefly.

Monopolistic Competition, chapters 4, 5, 6, 7 (pp. 130-149), Appendices C, D, E.
Alsberg, C. L.—“Economic Aspects of Adulteration and Imitation,” Q.J.E., Vol. 46, p. 1 (1931).

  1. Production and Distribution. Diminishing returns. Diminishing marginal productivitiy. The laws of cost. General effect of monopoly elements on the analysis.

Garver & Hansen—Principles, chapter 5.
Viner, J.—“Cost Curves and Supply Curves,” Zeitschrift für Nationalökonomie, 1931.
Monopolistic Competition, Appendix B.

  1. Theory of Wages.

Hicks, J. R.—Theory of Wages, chapters 6, 7.

  1. Profits.

Henderson, Supply and Demand, Ch. 7.

________________________________

ECONOMICS 1a
1940-41

  1. The Law of Supply and Demand. Meaning and Generality. Relation to the Law of Cost. Cost curves and supply curves. Relation to monopoly and to competition. Pure and perfect competition. Market problem illustrating deviations from “equilibrium” as defined by perfect competition. Equilibrium vs. the equation of supply and demand.

Mill—Principles, Book III, chapters 2, 3, 5.
Chamberlin—Monopolistic Competition, chapters 1, 2.
Henderson—Supply and Demand, chapters 1,2.
Marshall—Principles, pp. 348-350; p. 806 note.

  1. Competitive theory, illustrated by Marshall.

Marshall—Principles, Book V, chapters 1-5; book IV, chapter 13; Book V, chapters 8, 9, 10, 12.

  1. The effect of small numbers in the market.

Monopolistic Competition, Chapter 3.

  1. Product differentiation. Co-existence and blending of monopoly and competition. Output (sales) as a function of price, “product” and selling outlays. Price-quantity relationships examined in some detail, selling costs and products as variables more briefly.

Monopolistic Competition, chapters 4, 5, 6, 7 (pp. 130-149), Appendices C, D, E.
Alsberg, C. L.—“Economic Aspects of Adulteration and Imitation,” Q.J.E., Vol. 46, p. 1 (1931).

  1. Production and Distribution. Diminishing returns. Diminishing marginal productivitiy. The laws of cost. General effect of monopoly elements on the analysis.

Garver & Hansen—Principles, chapter 5.
Viner, J.—“Cost Curves and Supply Curves,” Zeitschrift für Nationalökonomie, 1931.
Monopolistic Competition, Appendix B.

  1. Theory of Wages.

Hicks, J. R.—Theory of Wages, chapters 6, 7.

  1. Theory of Capital and Interest.

Clark, J. B., The Distribution of Wealth, Chapters 9 and 10.
Böhm-Bawerk, The Positive Theory of Capital, Book II, Chs. 2 and 5, Book V.

  1. Profits.

Marshall, Book VI, Ch. 5, section 7; Chs. 7, 8.
Taussig, Principles, Vol. II, Ch. 50, section 1.
Henderson, Supply and Demand, Ch. 7.
Berle and Means, The Modern Corporation, Book IV.
Chamberlin, Monopolistic Competition, Ch. 5, section 6; Ch. 7, section 6; Appendices D, E; Ch. 8.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 2, Folder “Economics, 1940-1941”.

Image Source: Harvard Class Album 1946.