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Harvard. Junior Year Theory of Production and Distribution of National Income. Haberler and Leontief, 1942.

 

 

The last time Economics 1 was offered as a year course (1939-40), it was taught by Professor Chamberlin, Associate Professor Leontief and Instructor O.H. Taylor. Starting in the academic year 1940-41, Economics 1 was split into the two semester courses Economics 1a (Chamberlin: Economic Theory) and 1b (O.H.Taylor: Intellectual Background of Economic Thought). Two years later, 1941-42, 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”. In 1942-43, Economics 1b as “Theory of Production and Distribution of the National Income” was taught a last time by Professor Leontief and Dr. Monroe.

Here is a recently added link to the final examination questions for the 1941-42 course taught by Haberler and Leontief.

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Course enrollment

*1b 2hf. Professor Haberler and Associate Professor Leontief.–Theory of Production and Distribution of National Income.

Total 27: 2 Seniors, 22 Juniors, 3 Sophomores.

Source: Report of the President of Harvard College and Reports of Departments for 1941-42, p. 62.

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Economics 1b
1941-42

 

  1. Theory of Wages
  2. Theory of Capital and Interest
    1. Capital goods as factors of production. Stock vs. flow concepts. Durable and non-durable goods. Money capital and the rate of interest. Demand for capital by an individual firm.
    2. Time preference. Propensity to save.
    3. Interrelation of production and consumption goods industries. General equilibrium. national Income, Saving, and Investment.
  1. Theory of Profits
  1. Introduction to Welfare Economics

Modern theory of utility. Individual vs. social utility. Distribution of national income. Private vs. social marginal product.

 

Readings in: (Specific chapter and page of assignments will be given later.)

Paul Douglas, The Theory of Wages.
Meade and Hitch, An Introduction to Economic Analysis.
Böhm-Bawerk, Positive Theory of Capital.
J. B. Clark, The Distribution of Wealth.
Irving Fisher, The Theory of Interest (1930).
J. M. Keynes. General Theory of Interest and Unemployment.
K. Wicksell, Lectures on Political Economy. [Volume I; Volume II]
Pigou, Economics of Welfare.
Triffin, Monopolistic Competition and General Equilibrium Theory.

Articles by Frank Knight in the Journal of Political Economy and by A. Lerner in the Economic Journal.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 3, Folder “Economics, 1941-1942”.

Image Source:  Harvard Class Album 1942.