Ely’s course History of Political Economy, met twice weekly Tuesday and Friday 4 P.M. and had 26 students enrolled during the first half-year. According to the class roll (Johns Hopkins University Circulars, No. 12, December 1881, p. 157), Thorstein B. Veblen attended the class.
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COURSES IN HISTORY, INTERNATIONAL AND CONSTITUTIONAL LAW, AND POLITICAL ECONOMY, 1881-82.
[…]
SIMON NEWCOMB, LL.D., of Washington, will give a short course of lectures upon Political Economy, with special reference to the subject of Taxation.
HON. JOHN J. KNOX, of Washington, Comptroller of the Currency, will give three lectures upon Finance, with especial consideration of the National System of Banking, November 10–17.
RICHARD T. ELY, Ph.D. [Heidelberg, 1879], will give a course of twenty class lectures on the History of Political Economy, beginning Friday, October 14, at 4 P. M., and continuing on successive Tuesdays and Fridays at the same hour.
The lectures will be given in Room 1, 193 North Eutaw Street. It is designed in this course of lectures to describe the teachings of leading political economists from the time of the mercantilists up to the present. The origin of the various economic schools and their relations will be explained. The sources of economic knowledge and the methods of work will be pointed out, and topics for original investigation suggested. The writing of essays on assigned topics will be expected from the advanced students in the class.
ORDER OF TOPICS.
Introductory. Utility of the Historical Method. Discussion of the Questions: What is Political Economy? What has it accomplished?
Mercantilists. Commerce. Balance of Trade.
Physiocrats. Agriculture the Sole Source of Wealth.
Adam Smith. Recognition of Manufacturing Industry as also a Source of Wealth; hence the name Industrial System.
Adam Smith’s Followers: A. The Development of Pessimistic Tendencies, (a) Malthus, (b) Ricardo, (c) Mill; B. The Optimists, (a) Bastiat, (b) Carey.
The Opponents of Adam Smith. National Economy. Ad. Muller, Fr. List, Carey and others.
Communism.
Socialism. A. Social Democracy. B. Professorial Socialism
The Present Condition of Political Economy; (a) in France, (b) in Germany, (c) in England, (d) in America and elsewhere.
Review of the Field and Conclusion.
P. B. MARCOU, A. M., will conduct a special historical course, two hours weekly during the first half-year, in the Modern French Socialists. A knowledge of French is requisite for those pursuing this course.
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Source: Johns Hopkins University. University Circulars. No.12, December, 1881, p. 162.