About a dozen years after the University of Michigan established its own department of political economy, a major expansion took place under the leadership of professor Henry Carter Adams in 1892. Below you will find the course offerings for the academic years 1891-92 and 1892-93 along with two U. of M. Daily reports about the department’s economics program.
Other links of interest regarding economics at the University of Michigan:
History of the University of Michigan economics department through 1940.
List of University of Michigan economics faculty up through 1980.
Memorial to Henry Carter Adams (1851-1921) in the Journal of Political Economy, 1922.
Pictures of Henry Carter Adams’ home (interior and exterior photographs)
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POLITICAL ECONOMY.
A Letter From Dr. Adams.
(January, 1891)
Eds. U. of M. Daily,
Gentlemen: It gives me pleasure to comply with your request, and state the nature of the work which will be Undertaken in Political Economy during the Second Semester. The usual courses will be offered, but with some slight modification. They are as follows:
First: “Unsettled questions in Political Economy.” This course will comprise three lectures a week. It will embrace a study of the money question, statistics in relation to Political economy, development of economic thought, commercial crises, the railroad problem and the problem of emigration [sic].
Students who elect this course will have the privilege of listening to the Hon. Carroll D. Wright, who will give six lectures upon Statistics in their relations to the economic and social problems. Mr. Wright was for years at the head of the Bureau of Labor and Statistics, of Massachusetts and is now at the head of the Federal Bureau of Labor Statistics in Washington. His first lecture will be given on March 9th.
Dr. E. R. A. Seligman, Professor of Political Economy, in Columbia college, New York City, will some time in the month of May deliver, as part of the same course, lectures [sic] on the History of Political Economy. Dr. Seligman is well known as one of foremost economists in this country and his lectures on this subject may be looked forward to with great interest.
Arrangements had been made with Dr. Edmund James, of the University of Pennsylvania, to deliver a few lectures in this general course, but a letter has just been received saying that his physician will not permit him to undertake any extra labor. The other topics in this course will be treated by myself.
Second: “Social and Industrial Reform.” This course of lectures will embrace the development of industrial classes, poor law legislation, labor problem and socialism will be given under my immediate direction.
Third: “Foreign Commercial Relations of the United States.” This course of lectures, which will be two hours a week, will be given by Dr. Frederick C. Hicks. Dr. Hicks has given a great deal of attention to this subject. He will treat in this course of the theories of foreign and domestic trade, of the industrial resources of the United States on which trade must rest, and of the possibilities of developing a foreign commerce for the United States. He will, also, speak of the principles of free trade and protection in connection with foreign trade. This course of lectures will be most interesting and instructive. The students who are prepared to elect it are earnestly recommended to do so.
Fourth: “Seminary in the Science of Finance.” This course will be limited to students who are prepared to take advanced work in the science of finance. The study undertaken will be either the Financial History of the United States or Taxing System in the United States. It will be conducted by myself, with some assistance from Mr. Hicks
I am, of course, very solicitous that the work in economics should not suffer on account of my partial absence during the year. I am sure it has not suffered at all under the proficient direction of Professor Taylor, and I think that the students will see from the above program that it is not likely to suffer during the second Semester.
Very respectfully,
HENRY C. ADAMS.
Source: The U. of M. Daily, Vol. I, No. 75 (January 20, 1891), pp. 1.
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Courses of Instruction
1891-92
POLITICAL ECONOMY.
FIRST SEMESTER.
- Elements of Political Economy (short course). Text-book: Walker. M, W, F, Sec. I, 2-3; Sec. II, 3-4. Dr. HICKS.
Course I is designed for those who desire to obtain a general knowledge of Political Economy. It embraces, in addition to a statement of fundamental principles, brief studies on practical economic problems.
- History of the Development of Industrial Society. Lectures and quiz. Lectures, Tu,Th, 11½—12½. Quiz, M, Sec. I, 11½—12½; W, Sec. II, 11½—12½. Professor ADAMS.
Course 3 is designed to be introductory to all Courses in Political Economy except Course 1. It is desirable that it should be preceded by Course 1 in History. Students who intend to take all the work offered in economics should elect Course 3 the first semester of their second year of residence.
- Principles of the Science of Finance. Lectures and quiz. Lectures, M, W, F, 2-3. Quiz, Tu, Sec. I, 2-3; Th, Sec. II, 2-3. Professor ADAMS.
Course 5 must be preceded by Course 4.
- Socialism and Communism. Recitations, with assigned readings. Text-books: Ely’s French and German Socialism; Adams’s Relation of the State to Industrial Action. Tu,Th, 11½—12½. Dr. HICKS.
Course 7 must be preceded by Course 2.
- Theory of Statistics. Lectures, with practical work. Tu, Th, 4-5.
HICKS.
- Industrial and Commercial Development of the United States. Lectures. Tu, Th, 3-4. Dr. HICKS.
Course 11 must be preceded by Courses 2 and 4.
- Seminary in Economics. M, 4-6. Two-fifths Course. Professor ADAMS.
Course 13 must be preceded by Courses 2 and 4.
- Current Economic Literature and Legislation. Once in two weeks, M, 7-9. One-fifth Course. Professor ADAMS and Dr. HICKS.
Course 15 is designed for candidates for advanced degrees, or for students especially proficient in Political Economy.
SECOND SEMESTER.
- Elements of Political Economy. Text-book: Walker. M, W, F, Sec. I, 10½—11½; Sec. II, 11½—12½; Sec. III, 2-3. Dr. HICKS.
- Unsettled Problems in Political Economy. Lectures and quiz. Lectures, M, W, F, 2-3. Quiz, Tu, Sec. I, 2-3; Th, Sec. II, 2-3; F, Sec. III, 2-3. Professor ADAMS.
Course 4 comprises lectures on commercial crises, immigration, free trade and protection, the labor question, and the monopoly question. It must be preceded by Course 2.
- The Railroad Problem. Lectures. Tu, Th, 11½—12½. Professor ADAMS.
Course 6 must be preceded by Course 2.
- History of the Tariff in the United States. Lectures and text-book. Tu, Th, 3-4. Dr. HICKS.
Course 8 must be preceded by Course 2; Course 11 is also desirable.
- History of Financial Legislation in the United States. Lectures and readings. Tu, Th, 4-5. Dr. HICKS.
Course 10 must be preceded by Course 5.
- Critical Analysis of Economic Theories. Lectures and readings. W, 3-4. Professor ADAMS.
Course 12 is intended for advanced students, who are making a special study of Political Economy.
- Seminary in Finance. M, 3-5. Two-fifths Course. Professor ADAMS.
Course 14 must be preceded by Course 5.
- Current Economic Literature and Legislation. Once in two weeks, W, 7-9. One-fifth Course. Professor ADAMS and Dr. HICKS.
Course 16 is designed for candidates for advanced degrees, or for students especially proficient in Political Economy.
Source: University of Michigan. General Register for 1891-92, pp. 62-64.
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WORK IN ECONOMICS.
(October 1892)
A Great Change Introduced into This Department.
A Daily Man Has a Talk With Prof. Adams. — Nine Men are After Advanced Degrees with Political Economy for a Major. — A Word About the New Instructors. — Both are Graduates of the University of Michigan.
A complete change has been brought about in the department of Political Economy. Its scope has been greatly enlarged, new courses have been added and many of the old ones have been revised. An assistant professorship has been created and two new instructors have been engaged. The course now offered is as complete as can be found in any American college. Prof. Henry C. Adams, when interviewed on the subject, said:
“Yes, the work in Political Economy has been entirely rearranged. Our primary object has been to adapt the courses as far as possible to the needs of all the various classes of students. We place in the first class those who desire to obtain a brief, general view of the subject, such as may be had in one semester’s work. The text-book course in Walker is designed to this end. In the next class come those students who wish to enter more fully into the work but still confine themselves to a general knowledge of the subject. For them the four lecture courses, known as the undergraduate work, are intended, viz: Industrial History Elements of Political Economy, Unsettled Problems and the Science of Finance. The third class consists of those undergraduates who wish to advance so far as to take those special studies known as the intermediate courses. The fourth class comprises the graduate students.”
“The changes in this department look toward the organization of a graduate school. It is my belief that when students have completed their third year in the University they are well prepared to enter upon a higher plane of work. That which is most valuable in an education can not be obtained in lecture and recitation courses. Above these, which are designed to give the mind breadth of grasp and general preparation, come the seminary courses in which specialization is sought. Text books are discarded and for them are substituted the general literature of Political Science, and statistics, the raw material of economics. From a wide range of reading the student is forced to construct for himself a clear and consistent idea of the subject in hand. The advantages of this system are two-fold. In the first place, the knowledge that the student gains is thorough, and he makes it his own as he could never do in a lecture or text-book course. Secondly, and what is of far greater importance, he gains an insight into methods of original research and becomes accustomed to the handling of unworked material.
“It will readily be seen that such results are not obtainable in large classes. Personal contact between the instructors and students are indispensable to the work. With this in view are given Courses 21 and 22 in which the graduate students and the four instructors meet one evening in two weeks for the discussion of current economic literature and legislation. To bridge over the chasm between professor and student it was determined to appoint two instructors on half time, who, as they are candidates for advanced degrees, belong in part to the student body, rather than appoint one full instructor. The changes in the course have proven eminently successful. There are already nine candidates for advanced degrees with Pol. Ec. for their major study. Five of them are for the degree of Ph. D. and the others for Master’s degrees.
“Every student should specialize before leaving college. Whether his subject be Political Economy or History or Literature or Philosophy or Languages, matters not. Let but his investigating powers be given exercise in the proper field and the benefit derived will be enormous.”
Assistant Professor Taylor is so well known to students of the U. of M. as scarcely to need an introduction. He is a graduate of Northwestern University, has studied at Johns Hopkins, and took the degree of Ph.D. at Michigan. Two years ago he took the place of Prof. Adams for one semester. Since then he has held the chair of History and Political Science at Albion College. His doctor’s thesis is a finished work and has received the highest commendation from the most eminent critics.
Mr. Cooley, a son of Judge Thomas Cooley, graduated from the U. of M. first as M.E., then as A.B. He has since studied in Germany and Italy. In the recent census he had charge of the statistics of street railways and published an exceedingly interesting monograph on the subject. He is a candidate for the degree of Ph.D.
Mr. Dixon is so recent a graduate of the U. of M. as to be well known to all readers of the Daily. He too is a candidate for the Ph.D. degree.
Source: The U. of M. Daily, Vol. III, No. 6 (October 7, 1892), pp. 1, 3.
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Courses of Instruction
1892-93
POLITICAL ECONOMY.
The Courses in Political Economy are classified as undergraduate, intermediate, and graduate Courses. The undergraduate Courses, viz: Courses 1, 2, 3, and 5, may be taken by any student, but are not accepted as counting for an advanced degree. The intermediate Courses, viz: Courses 4, 6, 7, 8, 9, 10, 11, 12, and 13, may also be taken by any student; in the case, however, of students who are pursuing their work on the University system, and of graduate students, special instruction of one hour a week is given in connection with each Course. This extra hour is devoted to a more careful analysis and a more extended discussion than is possible in the lectures. The graduate Courses, viz: Courses 15, 16, 17, 18, 20, 21, and 22, are not open to undergraduate students who pursue their work on the credit system, but may be taken by those who are working on the University system.
FIRST SEMESTER.
- Elements of Political Economy (short course). Text-book: Walker. M, W, F, Sec. I, at 2; Sec. II, at 3. Mr. C. H. COOLEY.
Course 1 is designed for those who desire to obtain a general knowledge of political economy. It embraces, in addition to a statement of fundamental principles, brief studies on practical economic problems. It is not accepted as a substitute for Course 2 unless supplemented by Course 3.
- History of the Development of Industrial Society. Lectures and quiz. Lectures, Tu,Th, at 11½. Quiz, M, Sec. I, at 10½; Sec. II, at 11½; Tu, Sec. III, at 11½; W, Sec. IV, at 10½; Sec. V, at 11½. Professor ADAMS and Mr. DIXON.
Course 3 is designed to be introductory to all Courses in Political Economy except Course I. It is not, however, required for admission to such Courses. It embraces a history of English industrial society from the twelfth century to the present time, and is designed to show how modern industrial customs and rights came into existence. It is desirable that it be preceded by Course I in History. Students who intend to take all the work offered in economics should elect Course 3 the first semester of their second year of residence.
- Problems in Political Economy. Lectures and quiz. Lectures, M, W, F, at 2. Quiz, Tu, Sec I, at 2; Th, Sec. II, at 2; F, III, at 3. Professor ADAMS and Assistant Professor F. M. TAYLOR.
Course 5 treats in a cursory manner current problems in political economy. The problems studied are the following: The Railway Problem; Industrial Crises; Free Trade and Protection; Industrial Reforms; Labor Legislation; Taxation. It is designed as the supplement of Course 2, by which it must be preceded; and as introductory to Courses 4, 6, 7, 8, 9, 10, 11, 12, and 13, although it is not required for those Courses.
- History and Theory of Land Tenure and Agrarian Movements. M, W, at 4. Assistant Professor F. M. TAYLOR.
- History and Principles of Currency and Banking. Tu, Th, at 4. Assistant Professor F. M. TAYLOR.
- Industrial and Commercial Development of the United States. Tu, Th, at 11½. Assistant Professor F. M. TAYLOR.
- Theory of Statistics. Th, at 5. Mr. C. H. COOLEY.
Courses 7, 9, 11, and 13 must be preceded by Course 2.
- Critical Analysis of Economic Thought. M, at 8¼. Professor ADAMS.
- Seminary in Finance. M, 9½—11½. Professor ADAMS.
- Current Economic Legislation and Literature. Once in two weeks. W, 7-9, P.M. Professor ADAMS, Assistant Professor F. M. TAYLOR, Mr. C. H. COOLEY, and Mr. DIXON.
SECOND SEMESTER.
- Elements of Political Economy. Lectures, M, W,F, at 3. Quiz; Tu, Sec. I, at 11½; Sec. II, at 3; Th, Sec. III, at 11½; Sec. IV, at 3. Assistant Professor F. M. TAYLOR.
- Principles of the Science of Finance. Lectures, M, W,F, at 2. Quiz, M, Sec. I, at 3; W, Sec. II, at 3; F, Sec. III, at 3. Professor ADAMS and Mr. DIXON.
- The Transportation Problem. Tu, Th, at 11½. Professor ADAMS.
- History and Theory of Socialism and Communism. Tu, Th, at 4. Assistant Professor F. M. TAYLOR.
- History of the Tariff in the United States. Text-book: Taussig. Tu, Th, at 10½. Mr. DIXON.
- History of Political Economy. Text-book: Ingram. M,W, at 10. Mr. C. H. COOLEY.
Course 12, if taken by students who have passed Course 1, will be accepted as an equivalent for Course 2.
Courses 4, 6, 8, 10, and 12 must be preceded by Course 2.
- Critical Examination of the Labor Problem and of the Monopoly Problem. M, at 8¼. Professor ADAMS.
- Seminary in Economics. M, 9½ to 11½. Professor ADAMS.
- Social Philosophy, with especial reference to economic relations. Th, at 8¼. Assistant Professor F. M. TAYLOR.
- Current Economic Legislation and Literature. Once in two weeks. W, 7-9, P. M. Professor ADAMS, Assistant Professor F. M. TAYLOR, Mr. C. H. COOLEY, and Mr. DIXON.
Source: University of Michigan. General Register for 1892-93, pp. 69-71.
Image Source: 1891 photograph of the Michigan Wolverines football team. By J. Jefferson Gibson, Ann Arbor, Michigan – Bentley Historical Library, University of Michigan, Public Domain,