In the last post we saw the final exam for the course taught by Edwin Frickey on Economic Statistics at Harvard during the first term of the 1938-39 year. The earliest syllabus for this course that I have been able to find comes from the collection of course outlines at the Harvard Archives. The syllabus was unchanged (except updating for the current academic year) from 1940-41 through 1946-47.
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Course Listing
Economics 21a 1hf. Introduction to Economic Statistics
Half-course (first half-year). Mon., Wed., Fri., at 10. Associate Professor Frickey.
Two hours a week laboratory work are required.
Source: Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1940-41. (First edition). Official Register of Harvard University, Vol. XXXVII, No. 31 (May 21, 1940), p. 56.
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Course Enrollment
Economics 21a 1hf. Associate Professor Frickey.—Introduction to Economic Statistics
Total 92: 10 Graduates, 23 Seniors, 23 Juniors, 31 Sophomores, 5 Others.
Source: Report of the President of Harvard College and Reports of the Departments, 1940-41, p. 58.
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Economics 21a
1940-41
References:
C.P.T.—Crum, Patton and Tebutt, Economic Statistics;
N.P.—mimeographed Notes and Problems
- Introduction to Course
Outline of course. Relation of statistics to economics. Elementary concepts. Introductory problem, designed to get students familiar with sources and the nature of statistical analysis in economics.
C.P.T., Ch. I
- The Description of a Statistical Series by Charts, Tables, and Statistical Measures
The description of a statistical series by these various devices; the condensing of information. Principles of table and chart construction, illustrated by laboratory work. The description of a statistical series by statistical measures, developed by means of an example—the study of profits and certain economic problems connected therewith. Averages, dispersion, skewness: the criterion for choice of statistical measures; technique of computation; basis for critical judgment.
C.P.T., Chs. V to IX, XI, XII, XIV.
N.P., pp. 81-90, 111-119, 131-132, 161-167.
- Index Numbers
Use of index numbers in economics. Basic concepts. Points of view as to the nature of an index number. The simpler methods of computation—weighted aggregate, arithmetic mean of relatives, geometric mean of relatives—and the assumptions behind them. The Fisher formula: advantages and limitations. Various aspects of the problem of weighting. Non-technical discussion of topic of “bias,” indicating its practical importance.
C.P.T., Chs. XVIII, XIX.
N.P., pp. 201-233.
Bulletin No. 284, U.S.B.L.S. (Wesley C. Mitchell on Price Index Numbers), first half of pamphlet.
- Time Series
Use of index numbers in economics. Basic concepts. Points of view as to the nature of an index number. The simpler methods of computation—weighted aggregate, arithmetic mean of relatives, geometric mean of relatives—and the assumptions behind them. The Fisher formula: advantages and limitations. Various aspects of the problem of weighting. Non-technical discussion of topic of “bias,” indicating its practical importance.
C.P.T., Chs. VIII, XX to XXIII.
N.P., pp. 300-311, 338-345, 381-388.
Frickey, “The Problem of Secular Trends,” Review of Economic Statistics, September 1934.
- Correlation: the Study of Relationships
Use of statistical correlation procedure in economic problems. Basic concepts. Linear versus non-linear correlations. The three fundamental aspects: description, sampling inference, causation. The questions which correlation analysis attempts to answer. The correlation coefficient and related measures: step-by-step development of the logic of the various modes of explanation. The drawing of inferences from the results of a correlation study pertaining, explicitly or implicitly, to a sample. The relation of correlation to causation. Cautions regarding the calculation and interpretation of correlation measures.
C.P.T., Chs. XV, XVI.
N.P., pp. 401-437.
Day, Statistical Analysis, Chs. XII, XIII.
Mills, Statistical Methods, pp. 370-374 and Ch. XI.
- Sampling
The various sampling methods used in economics; their advantages and limitations. The precise significance of random sampling and “probable errors.”.
C.P.T., Chs. XIII.
- Basic Statistical Data
Statistical Sources. The collection of statistical data. The problem of obtaining homogeneity. The possibilities for misuse of statistical data—illustrated by problems.
C.P.T., Chs. II to V.
Mills, Statistical Methods, Ch. I.
Chaddock, Principles and Methods of Statistics, Chs. I to III.
Source: Harvard University Archives, Syllabi, course outlines and reading lists in Economics, 1895-2003, Box 2, Folder “Economics, 1940-41”.
Image Source: From the cover of Harvard Class Album 1946.