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Harvard. Mid-year exam. Principles of Money and Banking. Hansen and Williams, 1948-49.

 

Syllabi, reading assignments, bibliography and examinations for the Hansen-Williams money and banking course at Harvard have been transcribed and posted earlier for 1947-48; 1949-50. This post helps to fill the gap of course examinations.

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Enrollment

[Economics] 241 (formerly Economics 141a and 141b). Principles of Money and Banking. Professors Hansen and Williams.

(F) Total 73: 44 Graduates, 18 Public Administration, 1 MIT, 2 Juniors, 6 Radcliffe, 2 Others.
(S) Total 66: 43 Graduates, 15 Public Administration, 1 MIT, 4 Radcliffe, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1948-49, p. 78.

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1948-49
HARVARD UNIVERSITY
ECONOMICS 241a
Final Exam. January, 1949

PART I (Required)

Outline and discuss the current problems (relating to monetary and banking policy) disclosed, for example, in the last three Annual Reports of the Board of Governors of the Federal Reserve System. Among other things show why the current problems are different from those of the decades of

(a) the twenties
(b) the thirties.

PART II (Answer ANY THREE questions)

  1. Compare Wicksell and Keynes with respect to their theories of money and prices, showing, among other things, in what respects Keynes draws on the Wicksellian analysis and in what respects Keynes’s contribution is more complete.
  2. Write an essay on the monetary theories of any twoof the following:

(a) Robertson
(b) Hawtrey
(c) Hayek
(d) Fisher
(e) Marshall
(f) Henry Simons
(g) Lerner

  1. Explain by the aid of the modern theory of income determination the conditions under which monetary policy may be

(a) fully effective
(b) a necessary supplement to fiscal policy as means of raising real income and employment.

  1. Explain (by making use of the modern tools of analysis) the role of wages in the theory of price-level determination.

 

Source: Harvard University Archives. Final Examinations, 1853-2001. Box 16, Papers Printed for Final Examinations: History, History of Religions, …,Government, Economics, Anthropology,…, Naval Science. February, 1949.

Image Source: Alvin H. Hansen and John H. Williams in Harvard Class Album 1942.