The evolution of the Harvard tutorial system as an integral aspect of its undergraduate economics program is a subject worthy of a long essay. For now we simply add the following snapshot of the “Tutorial for Credit, Junior Year” that Richard Caves had been tasked to reform when he joined the Harvard faculty in the 1962-63 academic year. This post provides the reading lists for the third iteration of Caves’ seminar/tutorial model that replaced the earlier lecture/tutorial model.
As far as content goes, the 1964-65 version of Economics 98 can be seen to have attempted an ambitious, advanced intermediate coverage of mainstream micro- and macroeconomics.
Harvard’s Memorial Minute for Richard Earl Caves (1931-2019).
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Course Announcement
*Economics 98a. Tutorial for Credit — Junior Year
Half course (fall term). Tu., 2-4, and tutorial meetings to be arranged. Professor Caves, Assistant Professor T. A. Wilson, Dr. Brunt and other Members of the Department.
*Economics 98b. Tutorial for Credit — Junior Year
Half course (spring term). Tu., 2-4, and tutorial meetings to be arranged. Professor Caves, Assistant Professor T. A. Wilson, Dr. Brunt and other Members of the Department.
Economics 98a will deal with micro-economic and 98b with macro-economic theories and policies. These seminars will serve as preparation for more specialized training in their subject matter in Group IV graduate and undergraduate courses. Economics 98a and 98b are required of all honors candidates and are open to non-honors candidates with the permission of the instructor.
The courses will consist of both seminar and tutorial, normally with one seminar and one tutorial session a week.
Source: Harvard University, Faculty of Arts and Sciences. Courses of Instruction for Harvard and Radcliffe, 1964-1965, p. 106.
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Harvard Crimson Article on the New Junior Seminars
May 16, 1962
Ec. 98 Will Be Taught in Small Seminar Units
Lecture Format Found Unwieldy
By Richard B. Ruge
The Economics Department announced yesterday that four seminar-groups of approximately 20 students each will replace the once weekly lectures in Ec. 98, or tutorial for credit, and that an associate professor at the University of California has been appointed to head the new junior tutorial program.
John T. Dunlop, chairman of the Department, said that increased enrollment in 98 had made lecture presentation of the subject matter — the central core of economic concepts — ineffective. Since Gill Plan opened tutorial for credit all concentrators, the number of students in the course has jumped to 80.
Dunlop declared that the use of two-hour, smaller seminar discussion groups meeting once a week is “more properly the spirit of tutorial, will improve a level of instruction, and will allow the students and professors to develop their own interests more thoroughly and participate in good give-and-take discussions.”
The seminars will split into smaller groups of four of five students, meeting once a week for 90 minutes to present and discuss papers. These groups will focus on the major aspect of economic thought considered in the larger seminars.
Caves to Head Program
Heading the program will be [Richard] Caves, who will become professor of economics on July 1. An expert on industrial organization, Caves worked on a new foreign trade program as deputy special assistant to the President in 1961. He received his M.A. and Ph.D. from Harvard before joining the faculty at California.
Source: The Harvard Crimson, May 16, 1962.
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Tutorial Assignments for Ec 98a Fall 1964
Harvard University
Department of Economics
Economics 98a
List of Suggested Tutorial Assignments
August 17, 1964
This list includes items which tutors may find helpful as assignments for discussion in tutorial sections, bases for small projects or papers, and the like. Many but not all have been used successfully for these purposes in the past. A few items contain mathematical or statistical complexities that make them suitable only for students with special backgrounds. Make sure that you check any item before using it.
If time permits, a more complete list will be prepared and issued at the beginning of the semester. Suggestions for additions from the tutors would be appreciated, as would reports of adverse experiences with any of the following items.
R.E.C.
- Consumer behavior [sic, “1. Introduction” not included here]
Becker, Gary S., “Irrational Behavior and Economic Theory,” Journal of Political Economy, February, 1962, 1-13
Houthakker, H.S., “An International Comparison of Household Expenditure Patterns, Commemorating the Centenary of Engel’s Law,” Econometrica October, 1957, 532-551
U.S. Department of Agriculture, Technical Bulletins on Demand Analysis, No. 1253 (meat), 1168 (dairy products), 1136 (wheat)
Alchian, A., “The Meaning of Utility Measurement,” American Economic Review, March, 1953, 26-50
Ellsberg, D., “Classic and Current Notions of Messurable Utility,” Economic Journal, September, 1954, 528-556
Friedman, M., and L.J,. Savage, “The Utility Analysis of Choices Involving Risk,” Am. Econ. Assn., Readings in Price Theory, chap. 3
- Theory of the firm
Hirshleifer, J., “An Exposition of the Equilibrium of the Firm: Symmetry between Product and Factor Analyses,” Economica, August, 1962, 263-268
Scott, R.H., “Inferior Factors of Production,” Quarterly Journal of Economics, February, 1962, 86-97
Apel, H., “Marginal Cost Constancy and Its Implications,” American Economic Review, December, 1948, 870-886
Hitch, C.J., and R.N. McKean, The Economics of Defense in the Nuclear Age, chaps. 7, 8
Cookenboo, Leslie, Jr., Crude Oil Pipe Lines and Competition in the Oil Industry, chap. 1
F.T. Moore, “Economies of Scale: Some Statistical Evidence,” Quarterly Journal of Economics, May, 1959, 232-245; also discussion August, 1960, 493-499
Alexander, Sidney, “The Effect of Size of Manufacturing Corporation on the Distribution of the Rate of Return,” Review of Economics and Statistics, August, 1949, 229-235
Johnston, J., Statistical Cost Analysis, chap. 4 (secs, 1, 3, 4); chap. 5; chap. 6 (pp. 186-194)
Staehle, Hans, “Measurement of Statistical Cost Functions,” American Economic Review, June, 1942; Readings in Price Theory, chap. 13
Eiteman, W.J., and G.E. Guthrie, “The Shape of the Average Cost Curve,” American Economic Review, December, 1952, 832-839
Hall and Hitch, “Price Theory and Business Behavior,” in T. Wilson, ed., Oxford Studies in the Price Mechanism
Earley, J.S., “Recent Developments in Cost Accounting and the ‘Marginal Analysis’,” Journal of Political Economy, June, 1955, 227-242
Earley, J.S., “Marginal Policies of ‘Excellently Managed Companies,” American Economic Review, March, 1956, 44-70
Grayson, C.J., Decisions under Uncertainty, pp. 233-278
- Competitive product and factor markets
Vernon L. Smith, “An Experimental Study of Competitive Market Behavior,” Journal of Political Economy, April, 1962, 111-137
Ezekiel, M., “The Cobweb Theorem,” Am, Econ, Assn., Readings in Business Cycle Theory, chap. 21
Richardson, G.B., Information and Investment.
Friedman, M., Price Theory: A Provisional Text, chaps, 7-9
Lester, R.A., and Machlup, F., marginalist controversy, reprinted in R.V. Clemence, ed., Readings in Economic Analysis, Vol. 2, chaps, 6-9
Bachmura, F.T., “Man-Land Equalization through Migration,” American Economic Review, December, 1959, 1004-1017
- General equilibrium and welfare
Stone, Richard, and G. Croft-Murray, Social Accounting and Economic Models, chaps. 1-3
Lange, Oscar, On the Economic Theory of Socialism, B. Lippincott, ed.
Hirshleifer, J. et al., Water Supply: Economics, Technology, and Policy, chap. 8
Nelson, J.R., ed., Marginal Cost Pricing in Practice, chaps. 1, 2, 3, 5 (skip pp. 110-123), 6, 7
- Imperfect competition: product markets
- Monopoly
Neale, Walter C., “The Peculiar Economics of Professional Sports,” Quarterly Journal of Economics, February, 1964, 1-14
Olson, M., and D. McFarland, “The Restoration of Pure Monopoly and the Concept of the Industry,” Quarterly Journal of Economics, November, 1962, 613-631
Wallace, D.H., Market Control in the Aluminum Industry, Part II
Davidson, R.K., Price Discrimination in Selling Gas and Electricity
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- Monopolistic competition
Stigler, G.J., Five Lectures on Economic Problems, Lecture 2
Chamberlin, E.H., Towards a More General Theory of Value, chap. 15
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- Oligopoly
Peck, M.J., Competition in the Aluminum Industry, 1945-1948
Markham, J., Competition in the Rayon Industry
Weiss, L.W., Economics and American Industry, chaps, 7, 8
Modigilani, F., “New Developments on the Oligopoly Front,” Journal of Political Economy, June, 1958, 215-232
Shubik, M., “A Game Theorist Looks at the Antitrust Laws and the Automobile Industry,” Stanford Law Review, July, 1956
Marris, Robin, “A Model of the ‘Managerial’ Enterprise,” Quarterly Journal of Economics, May, 1963, 185-209
- Imperfect, competition: factor markets
Fellner, W.J., “Prices and Wages under Bilateral Monopoly,” Quarterly Journal of Economics, August, 1947, 503-532
Segal, Martin, “The Relation between Union Wage Impact and Market Structure,” Quarterly Journal of Economics, February, 1964, 115-128
* * * * * * * * * * * *
Harvard University
Department of Economics
DRAFT Reading List
Economics 98a
Fall Term, 1964
Students will be requested to purchase W.J.L. Ryan, Price Theory (London: Macmillan, 1958). Seminars may vary in the extent that they depend on Ryan for the basic exposition of micro theory. The following list assumes complete dependence on Ryan. Other readings are very tentatively included, and the list probably errs on the side of containing too much.
- Introduction
Lange, Oscar, “The Scope and Method of Economics,” in Arleigh P. Hess et al., Outside Readings in Economics, pp. 1-20
Knight, Frank, The Economic Organization, pp. 3-66
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- Consumer behavior
Ryan, chaps. 1, 6
Alfred Marshall, Principles of Economics, Book III (or a textbook treatment of utility theory, such as D.S. Watson, Price Theory and Its Uses, chaps 4, 5)
One of the following:
Duesenberry, James S., Income. Saving and the Theory of Consumer Behavior, pp. 6-39
Leibenstein, H., “Bandwagon, Snob, and Veblen Effects In the Theory of Consumers’ Demand,” Quarterly Journal of Economics, May, 1950, 183-207
Frisch, Ragnar, “Some Basic Principles of Cost of Living Measurements,” Econometrica, October, 1954, 407-421
Fisher, Irving, The Theory of Interest, pp. 61-124.
- Theory of the firm
Ryan, chaps. 2, 3
Chamberlin, E.H., The Theory of Monopolistic Competition, Appendix B
Dean, Joel, Managerial Economics, pp. 257-313
Universities—National Bureau Committee for Economic Research, Business Concentration and Price Policy, pp. 213-238
Cyert, R.M., and J.G. March, A Behavioral Theory of the Firm, pp. 4-21, 26-43
Bierman, Harold, and S. Smidt, The Capital Budgeting Decision, chaps, 1-6, 9
- Competitive product and factor markets
Ryan, Chap, 4
Chamberlin, chap. 2
Marshall, Book V, chaps. 1-5; Book IV, chap. 13
Working, E.J., “What Do Statistical Demand Curves Show?”, in American Economic Association, Readings in Price Theory, chap. 4
Robinson, Joan, “Rising Supply Price,” Readings in Price Theory, pp. 233-241
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- General equilibrium and welfare
Ryan, chap. 9
Boulding, Kenneth, “Welfare Economics,” in B.F. Haley, ed, for American
Economic Association, A Survey of Contemporary Economics, pp. 1-34
Bator, Francis M., “The Simple Analytics of Welfare Maximization,” American Economic Review,March, 1957, 22-44 (omit 44-59)
Scitovsky, Tibor, “Two Concepts of External Economies,” Journal of Political Economy, April, 1954, 143-151
McKean, R.N., Efficiency In Government through Systems Analysis, chaps, 1-5 (or something else on benefit-cost analysis)
- Imperfect competition: Product markets
Ryan, chap. 9
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- Monopoly
Ryan, chap. 10
Bain, Joe S., Price Theory, pp. 208-247
Weiss, L.W., Economics and American Industry, chap. 5
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- Monopolistic competition
Chamberlin, chaps. 1, 4, 5
Triffin, Robert, Monopolistic Competition and General Equilibrium Theory, pp. 78-89
Weiss, chap. 9
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- Oligopoly
Ryan, chap. 11
Fellner, William, Competition Among the Few, chap. 1
Sweezy, Paul, “Demand under Conditions of Oligopoly,” Readings in Price Theory, chap. 20
Bain, pp. 297-332
Duesenberry, James S., Business Cycles and Economic Growth, chap. 6
Baumol, W.J., Business Behavior, Value, and Growth, pp. 27-32, 45-46
- Imperfect competition: factor markers
Chamberlin, chap. 8
Dunlop, John T., “Wage Policies of Trade Unions,” American Economic Association, Readings in the Theory of Income Distribution, chap. 19
Cartter, A.M., Theory of Wages and Employment, chaps. 7, 8
Friedman, Milton, “Some Comments on the Significance of Labor Unions for Economic Policy,” The Impact of the Union, D. McC. Wright, ed., pp 204-234
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Tutorial Assignments for Ec 98b Spring 1965
HARVARD UNIVERSITY
Department of Economics
Economics 98b
Reading List
Spring Term, 1965
All selections listed below should be considered as assigned, although the leaders of Individual seminars may choose either to add or subtract items. Students may wish to purchase Gardner Ackley, Macroeconomic Theory (New York: Macmillan, 1961), which will be assigned in part, especially at the beginning of the semester, and will serve as a general reference for issues which arise during the course. R.C.O. Matthews, The Business Cycle, will also be used extensively.
- Introduction of macro-economics (two weeks)
- The national income
Gardner Ackley, Macroeconomic Theory, chaps. 1-4.
U.S. Department of Commerce, Survey of Current Business, July, 1964, pp. 7-40.
S. Rosen, National Income, pp. 172-187.
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- Prices and employment: pre-Keynesian background
Ackley, pp. 105-167.
- Income and employment determination (seven weeks)
- Effective demand
J.M. Keynes, The General Theory of Employment, Interest and Money, chaps. 1, 2.
A.H. Hansen, A Guide to Keynes, pp. 25-35.
P. Wells, “Aggregate Demand and Supply: An Explanation of Chapter III of the General Theory,” Canadian Journal of Economics and Political Science, XXVIII (Nov., 1962), pp. 585-59.
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- Consumption function and the multiplier
Hansen, A Guide to Keynes, pp. 67-85.
J.S. Duesenberry, Income, Saving and the Theory of Consumer Behavior, chaps. 3, 5,
J. Tobin, “Relative Income, Absolute Income, and Saving,” Money, Trade and Economic Growth: Essays in Honor of J.H. Williams, pp. 135-156.
M. Friedman, A Theory of the Consumption Function, 220-229, 233-239.
Ackley, chap. 10.
Hansen, A Guide to Keynes, pp. 86-114.
A.H. Hansen, Business Cycles and National Income, chap. 12.
W.J. Baumol and M.H. Peston, “More on the Multiplier Effects of a Balanced Budget,” American Economic Review, XLV (March, 1955), 140-148.
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- Investment
Keynes, chap. 11.
Hansen, Business Cycles and National Income, chap. 9.
J.M. Clark, “Business Acceleration and the Law of Demand: A Technical Factor in Economic Cycles,” in American Economic Association, Readings in Business Cycle Theory, chap, 11.
R.C.O. Matthews, The Business Cycle, , chaps. 3-5.
J.S. Duesenberry, Business Cycles and Economic Growth, chaps. 4, 5.
J.R. Meyer and R. Glauber, Investment Decisions, Economic Forecasting, and Public Policy, pp. 1-22.
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- Interest
Keynes, pp. 165-185, 195-209.
Hansen, A Guide to Keynes, chap. 6.
L.R. Klein, The Keynesian Revolution, pp. 117-123.
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- The Keynesian system
Keynes, pp. 257-271.
H.G. Johnson, Money, Trade and Economic Growth, chap. 5.
V. L. Smith, “A Graphical Exposition of the Complete Keynesian System,” Southern Economic Journal, XXIII (October, 1956), 115-125.
Ackley, chap. 15.
D. Patinkin, “Keynesian Economics Rehabilitated: A Rejoinder,” Economic Journal, LXIV (Sept.,1959), pp. 582-587.
D. Patinkin, “Price Flexibility and Full Employment,” American Economic Association, Readings in Monetary Theory, pp. 252-283
A.P. Lerner, “Comment,” American Economic Review, LI (May, 1961), pp. 20-23.
- Models of growth, fluctuations, and inflation (three weeks)
- Economic growth and fluctuations
Duesenberry, Business Cycles and Economic Growth, chap, 2.
W.J. Baumol, Economic Dynamics, chaps. 2, 3.
Hansen, Business Cycles and National Income, chap. 11.
D.B. Suits, “Forecasting and Analysis with an Econometric Model,” American Economic Review, LII (March, 1962), 104-132 (pp. 118-31 optional).
Matthews, chaps. 2, 13.
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- Inflation
A.C.L. Day and S.T. Beza, Money and Income, chaps. 19-21.
Keynes, pp. 292-304.
M. Friedman, “Some Comments on the Significance of Labor Unions in Economic Policy,” Impact of the Union, D. McC. Wright, ed., 204-234.
S. Slichter, “Do the Wage-Fixing Arrangements in the American Labor Market Have an Inflationary Bias?” American Economic Review, XLIV (May, 1954), pp. 322-346.
C. Schultze, Recent Inflation in the United States (Study paper No. 1, Employment, Growth and Price Levels), pp. 1-77. Joint Economic Committee
O. Eckstein and T.A. Wilson, “Determination of Money Wages in American Industry,” Quarterly Journal of Economics, LXXVI (August, 1962), 379-409.
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- Coordinating Policy for Growth and Stability
J. Tinbergen, Economic Policy: Principles and Design, pp. 1-37.
Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 8, Folder “Economics 1964-1965 (1 of 2)”.
Image Source: Harvard Square, 1961. From the Cambridge Historical Commission, image in the Photo Morgue Collection. Online: Digital Commonwealth.