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Business Cycles Exam Questions Harvard Problem Sets

Harvard. Report guidelines and exam for commercial crises and trade cycles. Andrew, 1905-1906

Abram Piatt Andrew, Jr. (1911)

While the exam questions for A. Piatt Andrew’s course on commercial crises and trade cycles for 1905-06 have been transcribed and posted earlier, this post adds his “Suggestions with regard to first report and accompanying chart.” This artifact provides a taste of an actual course assignment.  

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Previously posted

All of Andrew’s exams from his commercial crises and trade cycles course at Harvard for the academic years 1902-03 through 1907-08.

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Commercial Crises
and Cycles of Trade
Economics 12b
1905-06 

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Course Enrollment
Commercial Crises
and Cycles of Trade
1905-06

[Economics] 12b 1hf. Ass’t. Professor Andrew. Commercial Crises and Cycles of Trade.

Total 55: 9 Graduates, 20 Seniors, 20 Juniors, 5 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1905-190 6, p. 72.

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ECONOMICS 12b
SUGGESTIONS WITH REGARD TO FIRST REPORT AND ACCOMPANYING CHART

I. Concerning the Chart

  1. Neatness is desirable; accuracy essential.
  2. Before beginning the chart note the highest and the lowest figures, and devise a scale so that both may be included on the paper, but upon the largest possible plan.
  3. When several sets of figures are to be included upon the same chart, if possible, draw the various lines upon the same scale. If, by so doing, however, variations in one of the lines will be too small to be easily discerned, increase the scale for this line.
  4. Note the decimal division of the profile paper. Do not start with other than a decimal number as a basis. If you have a period covering 20 or 30 years a good plan is to let one of the large squares represent two years.
  5. When two or more decades are included mark the decennial years clearly with a heavier line than the other years.
  6. Bring the figures in every case as nearly to date as possible.
  7. Note on bottom of chart in small letters the source of your statistics, volume and page.
  8. Note also on chart whether the statistics are for the fiscal, calendar, or crop year, — or the year ending at what date.
  9. Place title and your own name somewhere on the chart.

II. Concerning the Report

  1. Give your figures in tabular form, naming all of the sources.
  2. Discuss the sources of your statistics, their authority, and their comprehensiveness.
  3. Trace the trade cycles as shown on your chart, showing the relation between the line movements and periods of prosperity or depression.
  4. Explain the reasons for the larger movements, paying particular attention to the maximal and minimal years. Show to what extent they may be caused by, or may be the cause of industrial fluctuations.
  5. When several countries are concerned note the resemblances and differences in their respective movements, explaining any important dissimilarities.
  6. Name all references employed in the preparation of the report. The references given by the instructor are only preliminary suggestions, and not meant to be sufficient for the completion of the report.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 1, Folder “Economics, 1905-1906”.

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ECONOMICS 12b
Mid-year Examination, 1904-05

Omit one question
  1. Compare as regards recent cycles of trade,—
    1. the number and liabilities of failed firms.
    2. banking and commercial failures.
    3. railway and commercial failures.
  2. To what extent have changes in the clearings of the New York banks registered changes in general business?
  3. Explain Juglar’s theory as to the movements of bank loans and reserves, and state how far it is confirmed by American experience.
  4. Explain what was done by the Bank of England to relieve apprehension in 1825, 1847, 1857, 1866, 1890.
  5. Explain and discuss Rodbertus’ theory of crises.
  6. Upon what occasions within the past thirty-five years and by what means, have the American Secretaries of the Treasury helped to relieve a stringency in the financial centres?
  7. In what ways is business affected by the condition of the crops? Within what limitations? In the case of which crops is the connection closest?
  8. What part does “credit” play in the explanation of crises,—
    1. according to Laughlin,
    2. according to Chevalier,
    3. in your own opinion?
  9. In what ways and to what extent are trade conditions apt to be affected,—
    1. by the increasing gold supply,
    2. by the trust movement,
    3. by increasing armies and navies,
    4. by the present agricultural situation?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1905-06. Also a copy in Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1906), p. 37.

Image Source: 1911 portrait of Abram Piatt Andrew, Jr. by Anders Born at Boston’s Isabella Stewart Gardner Museum. Wikimedia Commons.