This post offers two items of interest. The main item is the final examination for Paul Samuelson’s half of the core economic theory course taught at M.I.T. during the 1955-56 academic year.
Years ago I downloaded the slideshow prepared for the April 10, 2010 memorial service held at M.I.T. for Paul Samuelson from which the photo above has been cropped. Below I provide a working link via the Internet Archive Wayback Machine to the original photo page from the memorial service so that others can enhance their presentations with a variety of classic photos of Paul Samuelson.
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Enrollments for Economic Analysis
Twenty-two students were enrolled in 14.121 [Fall term, Robert L. Bishop]. Twenty students were enrolled in 14.122 [Spring term, Paul A. Samuelson]
Source: MIT Archives. Department of Economics Records, Box 3, Folder “Teaching Responsibility”.
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Course Announcement
14.121 [Bishop], 14.122 [Samuelson]. ECONOMIC ANALYSIS (A). Interdependent growth of theory and fact, general theory of equilibrium under competition and monopoly. Findings revalued under conditions which more closely approach reality.
Source: Massachusetts Institute of Technology Bulletin, Catalogue for 1955-56 Session (June 1955), p. 150, 189.
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Tuesday, May 29, 1956
Time 1:30 – 4:30 P.M.
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
Scheduled Examination in
ECONOMIC ANALYSIS 14.122
NOTE: Students are not permitted to use any books, notebooks, or papers in this examination. If brought into the room, they must not be left on the desks.
Answer any Four
- Write a 45 minute essay describing what Hicks does in Books I and II of Value and Capital, relating the parts to each other.
- One million exactly identical men start out with identical technological conditions or endowments. How will the resulting competitive equilibrium be defined? Describe some of its properties.
- In 45 minutes, state the fundamental problems of bilateral monopoly, duopoly and/or game theory. What solutions have been advanced? Appraise them.
- Given a world of 2 men and 2 goods with all production fixed. What can the welfare economist say about the various points of the resulting box diagram? (Distinguish between “Act III” interpersonal aspects and those of “Act II.”)
- Two industries produce x and y with constant-returns-to-scale production functions in terms of labor (L) and land (T) alone. Describe the competitive equilibrium that would result when 1 million identical laborers face 1 thousand identical landowners.
- In 45 minutes, discuss the principal theories relative to capital and interest. Appraise.
Source: Duke University. David M. Rubenstein Rare Book & Manuscript Library. Economists’ Papers Archives. Paul Samuelson Papers, Box 33, Folder “Teaching Exams 1952, 1956”.
Image Source: Samuelson Memorial Information Page/Photos from Memorial Service. Accessed via the Internet Archive Wayback Machine.