Tag: Hill

M.I.T. Casablank, graduate economics skit, 1978

Post author By Irwin Collier
Post date 2018-04-03

It was from the Ilsa and Sam scene and the Rick and Sam scene from Casablanca that a mad M.I.T. economics graduate student was distilling his frenzy in 1978. That fourth year graduate student, Jeffrey Frankel, was the producer/head-writer for his cohort’s contribution to the annual skit party of the department of economics. At the time I was on the other side of the Berlin Wall so that I missed both the creation and performance of “Casablank”. I contacted Jeff recently and asked if he still had a script. He did, and now Economics in the Rear-view Mirror is proud to provide the script for that legendary skit as well as the lyrics to “And God Knows Why”.

Production trivia. When asked about the casting decision to have Miguel Beleza in drag playing Ilsa, Jeff Frankel answered [Warning–irony and hyperbole!]: “I was violently opposed…But the others thought I was being a spoilsport; this was the price for their (reluctant) agreement to putting on my precious masterpiece.”

Note: To hear a well-crooned rendition of the entire Herman Hupfeld song “As Time Goes By” (Lyrics), that includes the introduction not sung in the movie but included in the MIT skit, listen to Rudy Vallée with Orchestra on the Victor label (78 rpm).

The same cohort of graduate students at M.I.T. was responsible for the skit Analysis in Wonderland that was written and performed in 1975 and transcribed for an earlier post.

____________________

4^th-year class, March 1978

CASABLANK
by Jeff Frankel*

*Script author and lead-author for lyrics to And God Knows Why.

Cast

Rick Gain [J.F. = Jeff Frankel]
Ugotme [Andy = Andy Abel]
LeBruin [Bill = Bill Krasker]
Major Strasbusch [Dick = Dick Startz]
Samuelson [Jay = Jay Helms]
Ilsa [Luis = Luis Miguel Beleza]
Narrator [Ray = Ray Hill]
Man [Bob = Bob Cumby]
Professor [Pedro = Pedro Aspe]
Student [Pat = Patricia D. Mooney]
S.S. [Ray = Ray Hill]
Vector Lieslow [Henry = Henry Brady]

NARRATOR: (solemnly) With the coming of the recent recession, the eyes of the world turned hopefully or desperately, to the field of Economics. A Ph.D. became the great embarkation point. But nobody could get a Ph.D. directly. And so a tortuous, roundabout refugee trail sprang up. From grade school to high school, from high school to college, and then, by GRE’s or grades or inside connections, to Graduate School. Here the fortunate ones, through money or influence or luck, might obtain an exit thesis, and thus get their Ph.D. and get a job in the world of Economics. But the others are stuck in Graduate School, where all they can do is wait…and wait…..and wait.

(Scene: Robnett’s Café American. People drinking: Man at one table, Student and Professor at another, Ugotme playing cards with others at a third table, and LeBruin at a fourth. Samuelson at piano.)

MAN: (despairingly) Waiting, waiting, waiting! I’ll never get out of here. I’ll die in Graduate School!

PROF.: (examining paper of nervous student) B+.

STUDENT: But can’t you…make it just a little bit more, please?

PROF: I’m sorry madame; exchange rate models are a drug on the market; everybody sells exchange rate models. There are exchange rate models everywhere. B+.

(Rick enters from left. Pause. SS comes to door on right.)

RICK: (blocking entrance) I’m sorry, this is a private room.

SS: Of all the nerve! I know there’s bridge-playing going on in there; you can’t keep me out! Do you know who I am?

RICK: I do; now get out. (SS leaves.)

UGOTME: (standing up) Who was that, Rick?

RICK: S.S.

UGOTME: S.S.?

RICK: Yeah. Sloan School.

UGOTME: Rick, why do you despise me? Oh, you object to the kind of business I do, huh? But think of all those poor students who must rot in this place if I didn’t help them. Through ways of my own, I provide them with thesis topics.

RICK: For a price Ugotme. They have to buy you dinner.

UGOTME: Look, Rick. (Takes paper from pocket.) Something that even you have never seen. A proof that unemployment can exist under rational expectations. I’d like you to keep it for me. (Hands paper to Rick. Retakes his seat.)

(Rick walks over and sits down with LeBruin.)

RICK: Hello, LeBruin.

LEBRUIN: Have some wine. Oh I forgot, you don’t drink with customers. I’ve been wondering, Rick. What in heaven’s name brought you to Graduate School?

RICK: The social life. I came to Graduate School for the social life.

LEBRUIN: (in astonishment) What social life? We are in a wasteland!

RICK: I was misinformed.

LEBRUIN: We are expecting a famous visitor here: Vector Lieslow, the liberal economist. He would give anything to get a proof that unemployment can exist under rational expectations.

RICK: What makes you think I’d help Lieslow?

LEBRUIN: Because, my dear Ricky, I suspect that under that monetarist shell, you’re at heart a Keynesian. (Rick laughs) Oh, laugh if you will, but I happen to be familiar with your record. In 1972, you worked for George McGovern. In 1968 you organized protest demonstrations at the Chicago School.

RICK: And got paid for it on both occasions.

(Strasbusch enters right. Nods to LeBruin, clicking his heels. Sits down with LeBruin and Rick.)

LEBRUIN: We are very honored tonight, Rick. Major Strasbusch is one of the reasons the Chicago School enjoys the reputation it has today.

STRASBUSCH: Mr. Gain, you came here from California.

RICK: There seems to be no secret about that.

STRASBUSCH: Are you one of those people who can’t imagine Milton Friedman in their beloved California?

LEBRUIN: Rick is completely neutral about everything. And that includes the neutrality of money.

STRASBUSCH: You were not always so carefully neutral. We have a complete dossier on you. We know what you did in College, and also we know why you left College.

RICK: (getting up) If you gentlemen will excuse me, (stunned) that girl Lieslow is with! Ilsa!

(Lieslow and Ilsa walk in, right. Look around, sit at a table.)

RICK: (Dreamily) I knew her in College, in the more innocent days before the recession. We were in French class and the SDS together. We believed in poetry and ideals like economic equality for all…and…and…the downward-sloping Phillips Curve. (Coming back to reality.) But then conservatism set in; the SDS was thrown off campus, and French class was replaced by Accounting. (sits down)

ILSA: (Leans over and talks to Samuelson.) Play it, Samuelson. Play “And God Knows Why.”

SAMUELSON (sings first half of song.)

AND GOD KNOWS WHY
[played on piano by Samuelson]

This day and age we’re living in
Gives cause for consternation
With the speed of price inflation
And disintermediation.

I get a trifle weary
With economic theory;
I can find no explanation
In graduate education.

No matter what the progress
Or what may yet be proved
The stylized facts of life are such
They cannot be removed.

You must remember this
We’re just economists.
We know the prime rate’s high
So also is the money supply
But God knows why.

And when the market’s bearish
The small investors perish
On that you can rely.
The fundamentals don’t apply
And God knows why.

Exercises in futility
Like multiple regressions,
Or maximizing our utility
With Jacobians and Hessians
Don’t give us the ability
To forecast our recessions;
That no one can deny.

It’s still the same old trouble
A speculators’ bubble:
A case of sparkling wine.
The Dow breaks seven-forty nine
And God knows why.

(Then applause from everyone but Strasbusch. Strasbusch, then LeBruin, stand up.)

STRASBUSCH: (to LeBruin, sternly) I have decided that we need this space for an S.S. classroom. I advise that the Robnett Café be shut up at once!

LEBRUIN: But I have no excuse to close it.

STRASBUSCH: Find one!

LEBRUIN: (blows whistle) Everybody is to leave immediately. This café is closed until further notice!

RICK: On what grounds?

LEBRUIN: I’m shocked! Shocked to find that bridge-playing is going on here! (Everyone leaves except Rick and Samuelson, who start to straighten chairs. LeBruin comes back to take bottle and glass. Ilsa enters suddenly.)

ILSA: Rick, I know you have the proof that unemployment can exist under rational expectations. You must give it to me, so Vector Lieslow and I can get out of here.

RICK: Why should I help you?

ILSA: If you don’t help us, Vector Lieslow will die in Graduate School.

RICK: What of it? I’m going to die in Graduate School. It’s a good place for it.

ILSA: Rick, you were a Keynesian too once.

RICK: I believe in self-interest now, sweetheart.

ILSA: I don’t like the way you are acting.

RICK: You’re no Ingrid Bergman yourself.

ILSA: I think that under that protective covering of neutrality, you still believe in an activist fiscal policy.

RICK: No, under this protective covering of neutrality…(Taking off trench coat and revealing Superman insignia) is Superneutrality!

(Ilsa turns and leaves in disgust.)

RICK: Play it again, Samuelson.

SAMUELSON (sings second half of song. Then leaves with Rick.)

You must remember this
We’re just economists.
Steel prices are still high,
Despite excess supply.
And God knows why.

Though the deutschemark is up
So are the sales of Krupp;
The Germans still sell and we still buy.
The fundamentals don’t apply,
And God knows why.

Upturns and downturns,
Wage hikes and price hikes,
Miller follows Burns,
Miller’s union strikes.
Every student learns,
Whether or not he likes
The fount of wisdom runs dry.

It’s still the same old textbooks;
Each one looks like the next looks.
Sales of Dornbusch and Fischer
Will make the authors richer,
But God knows why.

(Scene: LeBruin seated at desk. Rick, Ilsa and Lieslow enter together.)

RICK: (handing paper to LeBruin) LeBruin, this exit thesis is being submitted in the names of…Mr. and Mrs. Vector Lieslow.

ILSA: Oh, Rick!

LEBRUIN: Just as I suspected. At heart, you are a Keynesian.

(Major Strasbusch stalks in. Grabs paper and looks at it.)

STRASBUSCH: This thesis is not complete. There is no econometric evidence.

RICK: I have my programmable H.P. right here (tapping pocket of trenchcoat).

STRASBUSCH: You’re bluffing.

(Rick reveals calculator in holster. Strasbusch reveals his, draws. Rick draws. Both hit buttons furiously, with calculators pointed at each other.)

RICK: (while calculating) Regressing unemployment on the government deficit…holding constant for labor force composition…the t-statistic is…2.0!!

STRASBUSCH: (in horror) Oh, no! Fatal at the 95% level!! (Falls over.)

RICK: (chucking Ilsa under chin) Here’s looking at you kid.

(Ilsa and Vector exit)

(Lights out.)

Source: Transcribed from copy of original script and lyrics provided by Jeffrey Frankel .

Tags Abel, Aspe, Beleza, Brady, Cumby, FrankelJeff, Helms, Hill, Krasker, Samuelson, Startz

Economists Funny Business M.I.T.

M.I.T. Analysis in Wonderland. Graduate Student Skit, 1975

Post author By Irwin Collier
Post date 2017-09-02

The annual skit party was a huge social event in the economics department at MIT in the 1970s and presumably before and after. Each of the cohorts was expected to write and perform its own skit in which economics and economics professors were the principal targets. Faculty written skits were often a part of the festivities. Here in this posting for the historical record, a parody of Alice in Wonderland set in the Wonderland Institute of Technology in 1975 written by the first-year class of 1974-75. But first I provide a list of my classmates with links to some biographical information where I was able to find something…whatever happened to Paul Krugman? Not everybody participated in the preparation and performance so there remains a presumption of comic innocence for the majority of the following.

In 1978 many of this cohort were involved in Casablank, a parody of the movie Casablanca. That script has been transcribed and posted at the highlighted link.

__________________

First Year Economics Graduate Students, 1974-75
M.I.T. (Spring 1975)

Abel, Andrew B.
Aspe, Pedro A.
Begg, David K. H.
Beleza, Luis Miguel C. P.
Bookstaber, Richard M.
Collier, Irwin L., Jr.
Datcher, Linda P.
Daula, Thomas V.
Desormeaux, Jorge J.
Donnelly, John F.
Duarte, Virgulino
Klorza, Santiago C.
Feiger, Margaret C.
Frankel, Jeffrey A.
Geehan, Randall R.
Giavazzi, Francesco
Halpern, Janice D.[sic, H.?]
Helms, L. Jay
Hill, Raymond D.
Krasker, William S.
Krugman, Paul R.
Malveaux, Julianne M.
Mincy, Ronald B.
Mooney, Patricia D.
Mork, Knut A.
Nagatani, Hiroaki
Neuer, Margaret R.
Smith, David A. [Alton]
Startz, Richard
Winicker, Mary K.

Source: M.I.T. Archives. MIT Department of Economics Records, Box 1, Folder “Women & Minorities”.

__________________

While transcribing this skit from my own days as a graduate student, I discovered how much I had indeed forgotten. The mapping of many a character to the corresponding faculty member was no longer obvious to me. I have added a listing of Dramatis Personae with annotations based on the combined incomplete memories of myself, Jeff Frankel, Dick Startz, Andy Abel, Ray Hill and Jay Helms. Perhaps some long-lost member of the troupe will stumble across this page and help me fill in the blanks, especially with respect to casting (20 characters!).

______________________

ANALYSIS IN WONDERLAND

Composed and performed by the first-year economics graduate students at M.I.T.
Second term, 1974-75

DRAMATIS PERSONAE

Narrator: played by Richard Bookstaber
Alice (Representative Graduate Student): played by Margaret (née Agnew) Feiger
Advisor (presumably the actual first-year advisor, Peter Diamond): actor unknown
Cheshire Cat (Jagdish Bhagwati): actor unknown
Micro: (Hal Varian?): actor unknown
Macro: (Stanley Fischer?): actor unknown
Quick & Dirty (Martin Weitzman): actor unknown
Palmer (Palmer, an actual Sloan School graduate student): actor unknown
Dormouse (Evsey Domar?): actor unknown
Mad Hatter (Charles Kindleberger): played by Jeffrey Frankel
March Hare (Robert Engle?): actor unknown
Tweedledee (Jerry Hausman): possibly played by Jay Helms
Tweedledum (Robert Hall): possibly played by Bud Collier
Knave of Hearts (Franco Modigliani): actor unknown
Knave of Clubs (Arthur Burns): actor unknown
Knave of Spades (William McChesney Martin): actor unknown
Knave Alan (Allan Greenspan): actor unknown
King (President Gerald Ford): actor unknown
Joker (Paul Samuelson): possibly played by Ray Hill
White Rabbit (Robert Bishop?): actor unknown

ACT I

Narrator:	The first year class presents… Analysis in Wonderland, a tragicomedy in four unnatural acts. Any resemblance to faculty members living or otherwise should be inferred from the initials worn by the characters. Act I, Alice enters Wonderland and meets the Cheshire cat.
(Alice is sitting at a table reading Samuelson’s Economics.)
Narrator:	One day Alice was reading a book, but she was getting very bored, for the book had no conversations or jokes in it.
Alice:	And what is the use of a book without conversations or jokes?
Narrator:	And so she began to drift off. And eventually she noticed that there was someone on the other side of the desk…
Advisor:	Hi! Welcome to the Wonderland Institute of Technology. You must be a first year graduate student. I’m your first year advisor, and it’s my job to talk to you and give you a feeling that someone cares about you personally. Now, let me see your schedule (grabs book). Well, uh, (looks at book then says with emphasis) Paul, this schedule looks fine to me (signs it) and remember to turn in your roll cards on the first day of each class. (Through all this Alice keeps going “uh” and “but”…but can’t manage to say anything) Remember that if you have any questions or problems, just come in and talk to me, I have plenty of time. Excuse me! (The advisor gets up and runs out. Alice runs after, then comes back)
Alice:	What a strange place! But where should I go from here? Why there’s a Cheshire Cat. (Enter Cheshire cat) Excuse me, sir, but can you tell me where I ought to go from here?
Cheshire Cat:	Why, I’m wery [sic] glad you asked me that. You should go to the optimal point, of course.
Alice:	But how long will that take me?
Cheshire Cat:	I can’t tell you that, listen to this. (Turns on radio, which produces static. Turns it off.) You see! Our economic theories are all static.
Alice:	I would like to see some faculty.
Cheshire Cat:	Well, you could go to Harward [sic], but it’s wery rare that anyone sees any faculty there. Or you could stay here, but everyone here has completely lost their faculties. They’re all mad, you know.
Alice:	But I don’t want to go among mad people.
Cheshire Cat:	Oh, you can’t help that; we’re all mad here. I’m mad. You’re mad.
Alice:	How do you know I’m mad?
Cheshire Cat:	Well, a physicist’s not mad, you grant that? Now, a physicist starts with facts and tries to find theories that fit them. I start with theories and don’t bother with facts. Therefore I’m mad. Yes?
Alice:	But what are your theories about?
Cheshire Cat:	Do they have to be about anything?
Alice:	Well, I’ve often seen a subject without a theory, but a theory without a subject? It’s the most curious thing I ever saw in all my life! (Alice suddenly starts)
Cheshire Cat:	Don’t worry, it’s just the inwisible hand.
(Enter two characters with paper hats (?) on which are cross diagrams. One has a potato chip taped to his shoulder.)
Cheshire Cat:	They’re Mike and Mac Ro
Micro:	Someone must stop him! It’s shameful! Look at that silly diagram he’s wearing! It’s a disgrace to the profession.
Macro:	It’s a perfectly good diagram. Not like that ridiculous diagram you’re wearing!
Alice:	But the diagrams look just the same.
Cheshire Cat:	Shhh! You’ll only get them more upset.
Alice:	Why don’t you try to talk your differences over?
Micro:	Well, we microeconomists believe in logic, so I’m willing to reason it out.
Macro:	You can’t expect me to be reasonable. Can’t you see I’ve got a chip on my shoulder?
Alice:	Why, yes—it’s a potato chip in fact.
Macro:	I wear it in honor of our founder, Cain’s. So prepare to defend yourself.
Micro:	I warn you, I’m a master of the Marshallian arts.
Macro:	But I’m armed with the most deadly tool of macroeconomics: (pulls out several pairs of pliers)…Multi-pliers!
Micro:	And I have the most dangerous concept of microeconomics. (pulls out a slingshot) Elasticity!
Alice:	Oh no, they’re going to have a duel and micro is a semi-strict under dog! (Mike and Mac turn back to back) (enter panting, the Quick and Dirty banker, carrying a money bag and a calculator)
Q&D:	Wait! You can’t have a duel without a primal.
Alice:	Who are you?
Q&D:	I’m duh quick and doity bankuh. And by my quick and doity bankuh’s calculation, I find dat what you need is more liquidity which I will now provide. (out of the moneybag he pulls a waterpistol, shoots everyone, then runs)
Macro:	Now we’re all wet. What are we going to do?
Alice:	It’s all right, I know just what to do. Here’s the driest thing I know. (begins reading from Bishop [notes])
Micro:	This isn’t getting me dry at all.
Macro:	Now there’s only one way to get dry, and this will prove to you that macroeconomics is good for something.
Alice:	What are you going to do?
Macro:	I’m going to do some hand-waving! Macroeconomists are always drying things out by waving their hands.
Alice:	They are?
Macro:	Of course! That’s why none of their theories will hold water. Now, watch this! (He begins to draw a diagram)
Alice:	What do those lines mean?
Macro:	Oh, I don’t know. But they’re pretty good lines, and Lord knows I have the right to a few good lines in this ridiculous skit.
Palmer:	Haven’t you got the A line drawn wrong?
Macro:	(Going very fast) Well, that line doesn’t really matter. (erases it)
Palmer:	But then shouldn’t you erase the k line, too?
Macro:	Well, all right (erases).
Palmer:	What do X and Y stand for?
Macro:	Oh, don’t worry about the axes (erases them). Actually, these are not quite like this anyway. (erases remaining lines) And, as you can see, equilibrium is at the intersection.
Alice:	Well, I’ve often seen lines without an intersection, but an intersection without lines? It’s the most curious thing I ever saw in my whole life.
Narrator:	You’re repeating yourself, Alice.
Alice:	What do you expect, Mel Brooks?
Micro:	You think that’s hand-waving! Why, I have seen hand-waving, compared with which that is no better than eternal bliss.
Alice:	But what is better than eternal bliss?
Micro:	Well, a ham sandwich, for instance.
Alice:	But nothing’s better than eternal bliss.
Micro:	And a ham sandwich is better than nothing. So, by transitivity, there you are!
Alice:	(ignoring Micro as she turns to the Cheshire Cat) Isn’t there anyone here who isn’t mad?
Cheshire Cat:	You might try an assistant professor.
Alice:	Which one should I try?
Cheshire Cat:	It doesn’t matter—pick one at random.
Alice:	How do I do that?
Cheshire Cat:	Just draw one from an assistant professor urn.
Alice:	What’s an assistant professor urn?
Micro, Macro, Cheshire Cat, Narrator (in unison)	About eleven thousand a year!
(pause)
Narrator:	…and a copy of Bishop’s notes.
Alice:	Curiouser and curiouser.
(exeunt all)

ACT II

Narrator:

Act II. The Mad Boston Tea Party

(Dormouse sleeps throughout. Mad Hatter stuttering throughout; price keeps going up on hat.)

Mad Hatter:

What’s your liquidity preference my dear?

Alice:

It looks like you have nothing but tea.

Mad Hatter:

That is all we have.

Alice:

Then why did you ask?

Mad Hatter:

Consumer sovereignty. (gives Alice tea) I would like to suggest to you that that will be eight pence (takes shilling from Alice.)

Alice:

No cover charge?

Mad Hatter:

A gentleman never takes cover, as we say in the old country.

Alice:

Hey, I gave you a shilling and you only gave me two pence change back!

Mad Hatter:

A gentleman never counts his change.

Hare:

Gentleperson!

Alice:

This sounds like a liquidity trap to me.

Mad Hatter:

Alright, I’ll put it down on the T-account…(gets book)

Alice:

There is something floating in my tea.

March Hare:

(looking) Exchange rates.

Mad Hatter:

… two pence… (fiddling with T-accounts)

Alice:

No it’s ice.

Mad Hatter:

…under frozen assets.

Hare:

Gary Becker! (general laughter)

Mad Hatter:

Why is the Poisson distribution like a temperature of 102?

Alice:

Well, let’s see… I suppose you would have to integrate e to the…

Mad Hatter:

Integration! They only do that in South Boston.

March Hare:

No, that’s disintegration.

Alice:

I suppose you have to differentiate between…

Mad Hatter:

Differentiate? The first derivative is the last refuge of a scoundrel.

Alice:

I give up, why is the Poisson distribution like a temperature of 102?

Mad Hatter:

I haven’t the slightest idea.

Alice:

That’s not very funny.

Mad Hatter:

Funny?

March Hare:

She wants to hear a joke.

Mad Hatter:

A joke, a joke!

March Hare:

…Fogel and Engerman! (general laughter)

Alice:

I’m afraid I don’t get it.

Mad Hatter:

Well, you see, certain names are standing jokes around here, like…Walt Whitman Rostow! (laughter)

Alice:

Can I try one?

Mad Hatter:

Go right ahead.

Alice:

Milton Friedman! (silence among the actors who look sour a moment after the audience’s laughter dies down.)

Mad Hatter:

Try another one.

Alice:

Jay Forrester….(more silence).

Alice:

I don’t understand. What’s wrong?

Mad Hatter:

Well, some people just can’t tell a joke.

March Hare:

Perhaps you’d like to see a proof?

Mad Hatter:

A proof! A proof!

March Hare:

This is a proof I recited before the Queen of Hearts. (goes to board)

Twiddle Twiddle lambda star
Alpha hat, beta hat times X bar.
Alpha hat, beta hat sigma X_i

One over n, equals mean of Y.

[writes on board:]:
$\begin{array}{l}\mathop{{\tilde{\tilde{\lambda }}}}^{*}=\hat{\alpha }+\hat{\beta }\cdot \bar{X}\\=\hat{\alpha }+\hat{\beta }\cdot \sum{{{X}_{i}}}\left( \frac{1}{n} \right)=\bar{Y}\end{array}$

Mad Hatter:

Time to move on to the next place.
(everybody gets up to move)

Alice:

What?! You mean you just move on to the next place without erasing?

March Hare:

We don’t have to erase; we just relabel the axes.

Mad Hatter:

I always erase twice, once before the period and once afterward. (erases)

(everyone moves down one, and relabels axes and curve)

Alice:

And I suppose when you use up all the places you just start again at the beginning of the circle?

Mad Hatter:

Yes. It’s called recycling.

March Hare:

You better wake up the Dormouse.

(Mad Hatter and March Hare exit)

Alice:

(To Dormouse) Wake up, wake up. (shakes him)

Dormouse:

(waking) Whaaaaat?

Alice:

Wake up. It’s over.

Dormouse:

(Pause…) Can I Xerox your notes?

Alice:

(starts to leave. turns and says) Why is a Poisson distribution like a temperature of 102? (Pause. Alice exits)

Dormouse:

(alone) Because it’s not normal.

ACT III

Narrator:	Act III. Alice meets Tweedledum and Tweedledee, who have a battle.
(Alice enters and sits down. Dum and Dee enter, arm-in-arm, prancing. Dee sits down; Dum goes to the board and begins. Throughout, Dee is frantic, pacing, and talking very fast. Dum is red-faced, slow-talking, constantly looking at the floor; arms folded, with noticeably short pants and a turtleneck.)
Dum:	So, to conclude yesterday’s talk, we can see that it’s entirely possible that for the two sub-groups, say, men and women, you could have different parameters in the regression…
Dee:	(jumping up to interrupt) I think I can draw a picture that will make that all clear. Wish I had my colored chalk… [draws pictures].

	…so you see that while the slope in the pooled regression is zero, contrariwise; it’s actually negative for men and positive for women.
Dum:	…Sort of, different slopes for different folks, which tells us…
Dee:	[interrupting] …and contrariwise, I can clear this up by drawing a picture that would show…[draws picture]

Dum:	[interrupting]…that there could be kinky behavior in some subgroups….
Dee:	Right. (sits down)
Dum:	But, as I was going to say, this illustrates the 287^th “Iron Law” of econometrics, which states that….
Dee:	(again jumping up to interrupt)…Contrariwise,…I think I can make that clear with a picture in four dimensions. Damn, I just wish I had my colored chalk…(draws pictures)

	…which shows that…
Dum:	(getting very irritated, interrupting) Nohow! The time has come, the Walras said to talk of many things, of matrices and error terms of cabbages and kings, and keeping out your pictures that keep complicating things.
Dee:	Contrariwise! In my way of showing things I’m better far than you, Your talk is like an old dead horse– It’s slow, not unlike glue.
Dum:	Now wait a second…
(Dum and Dee break into a general dispute, yelling at one another.)
Dum:	….you’re not consistent…
Dee:	…you’re almost surely driving me to the p-limit…
Dum:	…you’re a homoscedastic deviate…
(While Tweeledum and Tweedledee continue arguing, the Narrator breaks in…)
Narrator:	So Tweedledum and Tweedledee Agreed to have a fight For Tweedledum said Tweedledee Couldn’t prove Gauss-Markov right.
Dum:	Of course we must have a fight. What time is it?
Dee:	10:40—We’re late getting started, so we better hurry up.
Dum:	Let’s fight ‘till noon, then have lunch.
Narrator:	So they agreed to fight and, as Alice watched, they began to see who could prove the theorem better.
(Dum and Dee give lectures simultaneously, beginning and ending at the same time with the same words.)
Dee:	[simultaneously with Dum] I CLAIM THAT OLS IS BLUE. Basically, we want to prove that ${{\sum{\left( \mathbf{{X}'Y} \right)}}^{-1}}\mathbf{{Z}'}\beta \le {{\sum{\left( \mathbf{{X}'\tilde{Y}} \right)}}^{-1}}\mathbf{{Z}'}\gamma$ Now just take the inverse of the antilog of the Jacobian and delete the fourth row. Let little x be the square root of big X, and let medium-sized x be measured from its mean; substitute back in and we have ${{\sum{\left( \mathbf{{X}'}\left[ \begin{matrix} \mathbf{Y} \\ \mathbf{Z} \\ \end{matrix} \right] \right)}}^{-1}}{\left\| J \right\|\cdot \Pi \cdot {{R}^{2}}}/{\text{hat size}}\;$ which you will recall from 14.381. Then, as I promised, you can use this by transposing Z and x, deleting R and reversing the inequality…..OH SHIT…I’ve screwed up…Well, just change every medium-sized x in your notes to big X, delete all sigmas, and reverse the third and fourth steps of the proof I gave last week which was right here on the board. Or look in Tahl’s [Theil with an West Virginian accent] book. Everyone should understand this perfectly—and of course the notation is clear. Then, adding the obvious steps we learned in 14.381 to this proof completes the argument. SO OLS IS BLUE, as promised.
Dum:	[simultaneously with Dum] I CLAIM THAT OLS IS BLUE. Well….a lot of people go around proving the Gauss-Markov….Theorem….but the literature is full of cases….where what’s done is wrong….Take matrix addition for example….Some people just add element-by-element….while often the more interesting thing to do…..is to use the Choleski factorization of one of the matrices….And recalling that Tweedledum and I are the final arbiters of econometrics at W.I.T. (at least until Fisher gets back off leave) you’d better do it this way, or consider dropping the course. SO OLS IS BLUE, as promised.
Palmer:	Shouldn’t you invert that Jacobian before proceeding to expansion in Lambert spaces….
Dee:	[interrupting] If it was so, it might be; If it WERE so, it could be; But as it isn’t, it ain’t. That’s logic.
Narrator:	Alice couldn’t figure out just who had won the fight, although Tweedledee HAD used a lot more words….
[exeunt]

ACT IV

Tweedledee:	Act Four, “The trahl”.
Narrator:	Within a few moments Alice will witness the trial of the Knave of Hearts who is in deep trouble now because the King of Hearts is flying all the way from the Capital of Wonderland to preside at the trial. You are undoubtedly familiar with the Knave of Hearts most important contribution to economic analysis, “A Life-Cycle Built for Two”. But now he has been accused of starting the latest Wonderland inflation and depression—or as they say in the seminar rooms down by the River Chuck—“inflession”. The economic experts of the King—Knave Arthur of Clubs, Knave William of Spades, and Knave Alan of Diamonds—have all convinced him that economic voodoo has been practiced on models on the Wonderland economy in the hallowed halls of W.I.T. Since the King of Hearts has never played with a full-deck in his life, he was easily deceived by these rascals. Fortunately for the Knave of Hearts the Queen was unable to come to the trial due to a prior speaking engagement before the Veterans of Foreign Business Cycles.
	(Enter Knaves of C.S. &D. They play “Hail to the Chief” on kazoos for a few bars and end with “Pop goes the weasel.” Then the King enters wearing a helmet and carrying a football. A WIN button is conspicuous. King bends over, hikes the ball to Knave of Clubs. King sits down on throne in middle of stage.)
Knave of Clubs.	Where’s the jury?
King of Hearts.	(points at the Knaves) You. (Knaves turn around but no one is behind them. King continues…) Yes, you. You are his peers. And for a proper trial before we cut off his grant, we must have a jury of his peers.
Knight of Diamonds.	(tossing a coin à la [George] Rath) We know what to do.
	(Enter all the other characters from Wonderland, except Joker and reporters)
King:	What are the charges?
Knave of Clubs:	Eleven dollars a barrel.
White Rabbit:	The King of Hearts, he has no smartz But Unemployment yes. The Knave of Hearts has played his part To make inflation worse.
Knaves in the jury-box:	Boo, Hiss, Boo!
King:	It is a pretty despicable offense isn’t it?
Knave of Spades:	Are you kidding? The charges don’t even rhyme.
King:	Will the defendant rise?
Knave of Hearts:	If I had known you were going to ask me that question I would have built it into my model.
King:	I’ll hold you in contempt!
Knave of Hearts:	I don’t suppose I’ll become overly fond of you either.
King:	Let the jury note the defendant’s behavior.
Knave of Hearts:	Which reminds me of my 1944 paper, but that is of course a secondary issue given the gravity of the problems which we now face. While I can’t formally defend the following equation to my own satisfaction, I think that it does make some economic sense. But first I should say that things will be getting much worse before they will get better, I can give you the latest predictions…..
King:	(fuming through all of the above) Bind the bearer of bad tidings or he’ll talk us to death…
Knave of Clubs:	But what shall we bind him with?
King:	Bearer bonds, naturally!
	(The Knaves come out of the jury box and use first-aid gauze to tie the knave of Hearts by body and legs & gag him—leaving only one arm free. Knave of Hearts has been talking with his hands throughout his testimony, and he continues gesturing with his free hand while occasional grunts can be heard under his gag.)
King:	May it be noted that in the tradition of Wonderland jurisprudence we have left the defendant with one degree of freedom in spite of his lack of respect for this court. Are there any witnesses?
Mad Hatter:	I am.
King:	Take the stand.
Knave of Clubs (to Mad Hatter):	Did the defendant do it?
Mad Hatter:	Certainly not.
Knave of Spades:	And you witnessed this with your own eyes?
Mad Hatter:	And I didn’t hear or smell him do it either.
Knave of Diamonds:	But how strong was your prior?
Mad Hatter:	Well, I don’t like to boast but when I was a young man working for the OSS during the War, I once spent a week in bed with a….
Knave of Clubs:	No, no, no. How much could new data affect your prior beliefs, and if considerably, what was your posterior judgment?
Mad Hatter:	I don’t now, that’s a good one. But I’ve got one for you. What weighs 12,000 pounds and has a twice differentiable indifference map over hay and peanuts?
King:	That’s irrelevant!
Mad Hatter:	That’s right.
King:	Give your evidence, or I’ll cut your grant off on the spot!
Mad Hatter:	(stutters) I’m a poor man your majesty.
King:	You’re a very poor speaker. (knaves laugh) I thought that was a pretty good one too. I’m in the mood for a few laughs (to White Rabbit) Call in the Joker.
White Rabbit:	The Joker.
(Enter Joker, attended by secretary, fans seeking autographs, and reporters taking pictures)
Joker:	It’s great to be back in Wonderland folks. A funny thing happened on my way…
King:	(interrupting) You have been called here to testify. What is the Keynesian viewpoint?
Joker:	As Uncle Miltie Friedman would say, only blindmen use Keynes. Hey, that’s a pretty good one. (To secretary) Write that down for my textbook—Better yet, put out a new edition. But, seriously folks just the other day I was leafing through a volume of Ricardo’s letters in the Sraffa collection when I came across a letter from Ricardo to James Mill describing the following encounter between Thomas Malthus and David Ricardo. Ricardo was walking down the street one day when he ran into the good Reverend who was, much to Ricardo’s surprise, sporting a banana in his left ear. Ricardo was surprised because Malthus was always the last of the political economists to adopt a new fashion. Finally Ricardo’s curiosity got the better of him and he asked, “I say Tom, why is that banana in your ear?” Malthus didn’t seem to understand—but that was hardly unusual as Malthus, more often than not, couldn’t understand what his friend was saying. In fact, old Malthus personally thought that Ricardo couldn’t optimize his way out of a paper sack, much less a Lambert space. Finally Malthus said, “I’m sorry Dave, but I can’t hear you, you see, I have this banana in my ear.” (everyone in the courtroom is sleeping) And now….ahem…ahem (everyone wakes up). A few of your favorite impressions: Francois Quesnay! (He covers his face with his hands; removes hands; expression unchanged) Böhm-Bawerk! (same routine)
King:	Enough!
Joker:	Nassau Senior! (same routine)
King:	Take him away. (White rabbit and knaves carry Joker off, still doing impressions. e.g. Stanley Jevons, Joseph Schumpeter, Vilfredo Pareto….)
King:	Who is the next witness?
Rabbit:	Alice!
Alice:	Here! (she goes to the witness stand)
King:	What do you know about this business?
Alice:	Nothing.
King:	If you say anything, I’ll give you part credit. Otherwise….
Alice:	But I don’t need part credit!
King:	Young lady, I’m growing impatient. Either tell us something about this business or I’ll cut off your grant.
Alice:	(crying) But I don’t have a grant.
King:	Then why are you so upset, indeed.
Alice:	What sort of….(alarm clock goes off in the jury box and the knaves wake up).
Knaves:	(in unison) Verdict time!!
Knave of Spades:	(To Knave of Diamonds) Do you have the coin?
Knave of Diamonds:	Yes I do. (to Spades). You’re innocence, (to Clubs) you’re guilt. Call it innocence. (he tosses the coin high in air)
Alice:	What kind of trial is this?
King:	Don’t be a stupid child. It’s a Bernoulli trial.
Knave of Spades:	Tails.
Knave of Diamonds:	Sorry it’s heads. He’s guilty!
Alice:	May I see the coin? (it’s tossed to her) This coin has two heads.
King:	Did anyone say p equaled one half?
	(Lights out. Everyone leaves but Alice. Lights on she has book and wakes up.)
Alice:	I’m glad I woke up before I had to take generals. (She leaves)
Audience:	(Deafening applause) Bravo. Cheers. Whoopee.

Source: Transcribed by Irwin Collier from personal copy.

Tags Abel, Aspe, Begg, Beleza, Bhagwati, Bishop, Bookstaber, Collier, Datcher, Daula, Desormeaux, Diamond, Domar, Donnelly, Duarte, Feiger, Frankel, Giavazzi, Hall, Halpern, Hausman, Helms, Hill, Kindleberger, Klorza, Krasker, Krugman, Malveaux, Meehan, Mincy, Modigliani, Mooney, Mork, Nagatani, Neuer, Samuelson, SmithDA, Stanley Fischer, Startz, Weitzman, Winicker

Economists Harvard

Harvard. Graduates’ Magazine reports on Economics Dept. 1892-1904.

Post author By Irwin Collier
Post date 2016-01-19

The Harvard Graduates’ Magazine. Vol. 1, October, 1892, pp. 116-117.

ECONOMICS.

Ten years ago, the Department of Political Economy had one professor and one instructor, neither giving all of his time to the subject. At present, the Department of Economics has three professors and two instructors. The change in name, from Political Economy to Economics, indicates of itself an enlargement of the range of subjects. The number of courses offered has grown from two to a dozen, with a corresponding development in the variety of topics treated. The increase in the number of students is indicated by the fact that the first course, introductory to the rest, which was taken ten years ago by perhaps fifty students, now has over three hundred. This striking development is significant of the rapid increase in the attention given to economic problems by the public and by our institutions of learning. The staff now consists of Professors Dunbar, Taussig, and Ashley, and Messrs. Cummings and Cole. Professor Ashley enters upon his duties for the first time this autumn, his chair being a newly created one of Economic History. Professor Dunbar continues to edit the Quarterly Journal of Economics, which was established by the University in 1886 with the aid of a fund contributed by John Eliot Thayer, ’85, and which has an established position among the important periodicals on economic subjects. The Department has recently done service to economic students by a reprint, under Professor Dunbar’s care, of Cantillon’s Essai sur le Commerce, a rare volume of importance in the history of economic theory; and it has now in press a volume of State Papers and Speeches on the Tariff, meant to aid students of the tariff history of the United States. For its growth in the past the Department has depended wholly on the expenditure by the Corporation of unpledged resources. No doubt the increasing sense of the importance of economic study will in time change the situation in this regard, and will make this department as attractive for benefactors as those which are older and more familiar.

F. W. Taussig, 79.

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The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 576.

[Birth of a semester system, emphasis added]

The elective pamphlet announcing the courses to be offered in 1893-94 by the Faculty of Arts and Sciences contains few striking changes. There is a tendency manifested in it to increase the number of half-courses beginning or ending in February, at the time of the mid-year examinations. Thus History 12 is split into two halves, the first half being on the recent history of Continental Europe, and the second half on the recent constitutional history of England; Economics 7 is cut in two, and Economics 12 is established as two half-courses, one on International Payments and the Flow of Precious Metals, and the other on Banking and the History of the Banking Systems. Other examples might be given to emphasize the drift towards something akin to a division of the year into two semesters, particularly for the convenience of graduate students.

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The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 590.

ECONOMICS.

In the department of Economics several new courses are offered for 1893-94. Professor Dunbar offers two half-courses, one on international payments and the flow of the precious metals from country to country, the other on banks and the leading banking systems. The two half-courses come at the same hours in the first and second half-years, and, when taken together, form a convenient full course running through the year. This new course will alternate with Course 7, on taxation and finance, which is to be omitted in 1893-94, and will be resumed in 1894-95. — Professor Ashley offers a course on Economic History, from the Middle Ages to modern times, which will take the place of the former Course 4, on the economic history of Europe and America since the middle of the eighteenth century. The new course covers a longer period than was covered in Course 4, and will supplement effectively the instruction in history as well as in economics. Professor Ashley also offers a new half-course, intended mainly for advanced and graduate students, on land tenure and agrarian conditions in Europe. — Professor Cummings offers a half-course, also intended for advanced students, on schemes for social reconstruction from Plato’s Republic to the present time, including the proposals of Bellamy and Hertzka. The course is meant to give opportunity for the discussion of social and political institutions and of socialist theories. — Economics 1, the introductory course in the department, will be remodeled in part in the coming year. A somewhat larger proportion of the exercises will take the form of lectures to all members of the course. Professor Taussig will lecture on distribution and on financial subjects, Professor Ashley on economic development, Professor Cummings on social questions.

F. W. Taussig, ’79.

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The Harvard Graduates’ Magazine. Vol. 3, March, 1895, pp. 383-384.

ECONOMICS.

The matter that has of late most engaged the attention of the Department has been the welcome and yet embarrassing growth in the number of students taking the introductory course known as Economics 1. This has risen from 179 in 1889-90 to 201 in ’90-91, 288 in ’91-92, 322 in ’92-93, 340 in ’93-94, until in the present year it is 398. Such an increase necessarily raises grave questions both of educational method and of academic discipline. Those professors to whose labors in past years the success of the course has been due are still of opinion that the recitation method, in its best form, — the discussion day after day and chapter by chapter of some great treatise like the work of John Stuart Mill, — furnishes a mental training such as no other plan can provide. But for its successful practice it is necessary either that the class should be quite small, or that, if divided, the sections should be few and small. Accordingly it became evident that some modification of plan was necessary; and last year the arrangement was hit upon of retaining the section work for the greater part of the year, but diversifying it with three months of set lectures at different periods by Professors Taussig, Ashley, and Cummings. The experiment was so satisfactory that it has been repeated this year; and, in the absence of Professor Taussig, Professors Ashley and Cummings have each lectured for six weeks. If the numbers continue to grow, it may seem advisable in the future to take further steps in the same direction. But Upper Massachusetts, in spite of its historical associations, has abominable acoustic properties; the room in Boylston, which was suggested as an alternative, is redolent of Chemistry; and it may ultimately become necessary to invade the sacred precincts of Sanders Theatre. — In the absence of Professor Taussig upon his sabbatical, before referred to, his course on Economic Theory (Econ. 2) has been divided into two half-courses, and undertaken by Professor Ashley and Professor Macvane. Professor Macvane’s action will do something to break down that middle wall of partition between departments which is sometimes so curiously high and strong in this University of free electives. It need scarcely be added that to those who know how considerable have been Professor Macvane’s contributions to economic theory, and how great his reputation is with foreign economists, he seems altogether in place when he takes part in the economic instruction of Harvard University. — Professor Taussig’s course on Railway Transportation (Econ. 5) has been assigned for the present year to Mr. G. O. Virtue, ’92; his other courses have been suspended. — Mr. John Cummings, ’91, has returned, with a year’s experience as instructor and his doctorate, from the University of Chicago, and is now an Assistant in Econ. 1; he is also offering a new course on Comparative Poor Law and Administration. — The instructors in this, as in other Departments, find themselves increasingly hampered by the difficulty of providing the necessary books for the use of students. Oxford and Cambridge Universities, with hardly more students than Harvard, have libraries in every college, together with the Union libraries and the University libraries; here in Harvard, if an instructor in class mentions any but the best known of books, the chances are that there is only one copy in the place,— that in the University Library; and unless he has been provident enough to have that book “reserved,” some undergraduate promptly takes it out, and nobody else can see it. It is true that undergraduates ought to buy more books; but frequently there is not a copy to be had even in the Boston bookstores. It would certainly be a great relief if the societies could see their way to create, each for itself, a modest working library of a few hundred books. Meanwhile something may be done by strengthening the Departmental Library in University Hall. This, which owes its creation to the generosity of some of the members of the Class of 1879, is in urgent need of enlargement; and the professors in the Department will be glad to hear from any graduate whose eye this happens to catch. — Finally, it may be advisable to mention that, as the result of careful deliberation on the part of the members of the Division Committee, a detailed statement of requirements for the Degree of Doctor of Philosophy in Political Science was drawn up last spring, and will now be found at the end of the Division pamphlet This Statement is noteworthy in that it defines for the first time the “general” examination, and the examination on “a special field;” and also for the stress it lays upon “a broad basis of general culture ” as the foundation of specialist work. “A command of good English, spoken and written, the ability to make free use of French and German books, and a fair acquaintance with general history ” are mentioned as “of special importance.”

W. J. Ashley.

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The Harvard Graduates’ Magazine. Vol. 4, December, 1895, pp. 242-243.

ECONOMICS.

The Department of Economics began its work for the year under unfortunate circumstances. Professor Dunbar, its honored head, was compelled by ill-health to withdraw from academic work for the year, and was given leave of absence by the Corporation. His withdrawal rendered necessary changes in the courses of instruction. Of those announced to be given by Professor Dunbar, course 7, on Financial Administration and Public Debts, was undertaken by Dr. John Cummings, and course 12, on Banking and the History of the Leading Banking Systems, by Professor Taussig. The additional work thus assumed by Professor Taussig was made possible through the aid of Professor Macvane, who will conduct during the second half-year that part of Economics 2 which had been announced to be given by Professor Taussig. Course 8, on the History of Financial Legislation in the United States, has been shifted to the second half-year, and will then be given by Dr. Joseph A. Hill, A. B. ’86, Ph. D. ’92. By this rearrangement all the courses originally announced will be given, and no diminution in the Department’s offering results from Professor Dunbar’s absence. — Another change has taken place, affecting course 1. The numbers in this introductory course have grown steadily of late years, and it is now taken annually by about 400 men. It had been the policy of the Department to conduct it not by lectures, but mainly by face to face discussion, in rooms of moderate size, the men being divided into sections for this purpose. As the numbers grew, however, it became more and more difficult to keep the sections at a manageable size, to find convenient rooms for them, and to secure efficient instructors. The alternative of lecturing to the men in one large room had long presented itself, but the probable educational advantages of instruction in smaller rooms by sections caused this alternative to be avoided. For the present year, however, the withdrawal of Professor Dunbar rendered some economizing of the force of the Department necessary, and it has been accordingly determined to try the lecture plan for the current year. All the members of the course meet in Upper Massachusetts, — a room which, by the way, proves reasonably well adapted for this use, — and there are given lectures by the various instructors who take part in the course. By way of testing their reading and securing for the instructors some evidence as to their attainments, a system of weekly written papers has been introduced. On a given day of each week the students write answers to questions bearing upon the work of that week and of previous weeks. These answers are examined and corrected, and serve as a means of estimating the diligence and attainments of the students. Whether this radical change of plan will prove to be advantageous remains to be decided by the year’s experience; but it indicates a change in the methods of college work which is making its way in all directions, and which presents new and difficult problems to instructors. — The Seminary in Economics opens the year with sixteen advanced students of good quality, and promises well. Two are Seniors in Harvard College; the remainder are members of the Graduate School. Four are candidates for the degree of Doctor of Philosophy at the close of the current year. The growth of the Seminary in numbers and the better organization of its work are part of the general advance of the Graduate School, which is now reaping the fruits of the marked gains it has made in recent years.

F. W. Taussig, 79.

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The Harvard Graduates’ Magazine. Vol. 7, March, 1899, pp. 427-8.

ECONOMICS.

Like other departments, that of Economics finds itself confronted with the problem of the best mode of dealing with large numbers of students in the courses much sought for, and especially in the general introductory course. Economics 1 is now regularly chosen by from 450 to 500 students. Well-nigh every undergraduate takes it at some stage of his college career, and the question of its numbers seems to be simply a question of the number of students in the College and Scientific School. This great demand for general training in the subject has imposed on the Department an obligation to make its instruction as stimulating and efficient as may be, and yet has made this task more difficult than ever before. Inevitably, the old method of dividing the course into sections for all of the instruction has been abandoned. Its place has been taken by a mixed method of lectures and oral exercises. Twice a week, lectures are given to the whole course in one large room. Upper Massachusetts, remodeled, reheated, and reseated, serves for these lectures, — not well, but not unendurably ill; there is great need, for the use of the large courses, of a new and well-equipped building. The lectures are largely in the nature of comment on assigned reading. The third hour in the week is then given to meetings in sections of moderate size, in which the lectures and the reading are subject to test and discussion. The course is divided into some fifteen sections, each of which meets its instructor once a week. At these exercises, a question is first answered in writing by each student, twenty minutes being allowed for this test; the remainder of the hour is used in oral discussion. Some continuous oversight of the work of students is thus secured, and opportunity is given for questions to them and from them. A not inconsiderable staff of instructors is necessary for the conduct of the sections, and a not inconsiderable expenditure by the Corporation for salaries; but some such counter-weight on the lecture system pure and simple is felt to be necessary. The Department has been fortunate in securing trained and competent instructors for this part of the work; and the new method, if not definitively adopted, is at least in the stage of promising experiment. — During the second half year of 1898-99, the place of Professor Ashley, who is absent on leave, is taken by Dr. Wm. Cunningham, of Trinity College (Cambridge, England). Dr. Cunningham and Professor Ashley are easily the leaders among English-speaking scholars on their subject, economic history; and the Department has cordially welcomed the arrangement by which the scholar from the Cambridge of England fills the place, for the time being, of the scholar of the American Cambridge. Dr. Cunningham gives two courses in the current half year, — one on Western Civilization in its Economic Aspects, Mediaeval and Modern, the other on the Industrial Revolution in England.

F. W. Taussig, ‘79.

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The Harvard Graduates’ Magazine. Vol. 8, December, 1899, p. 223.

ECONOMICS.

The Department finds, as usual, large numbers of students to deal with during the current year. In the introductory course, Economics 1, nearly 500 students are enrolled, and once again it appears that the University has no good lecture room adequate for the accommodation of such numbers. The system of instruction which has been in use in this course for several years is continued. For part of the time, lectures are given to all members of the course; for the remainder of the time, it is split into small sections for question and discussion. So long as lectures are given at all, there is little gain from splitting the course into two or more parallel courses, as has sometimes been proposed; but the absence of a good lecture room for the whole number makes the present situation trying. In its advanced courses, the Department has again the services of Prof. Ashley, who returns after a year’s leave of absence, and finds large numbers enrolled in his course on modern economic history. His advanced course, on the history and literature of economics to the close of the 18th century, also attracts a satisfactory number of mature students. Prof. Cummings omits for the year his course on the labor question; but compensation for this is found in Philosophy 5, a course having a similar range of subjects, which is again given by Prof. Peabody, who has returned from his year’s leave of absence. Professors Dunbar and Taussig give, without material change, the courses usually assigned to them. — The Department assumes some additional burden through a change in its plans for the publication of the Quarterly Journal of Economics. That journal, whose 14th volume begins with the opening issue of this year, is hereafter to appear in more ambitious form. Its size will be somewhat increased, the departments varied, and the elaborate bibliography of current publication will be strengthened. At the same time the price goes up from $2 to $3 a year, — a change which, it is hoped, can be carried out without a loss of subscribers.

F. W. Taussig, 79.

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The Harvard Graduates’ Magazine. Vol. 10, December, 1901, pp. 261-2.

ECONOMICS.

An unusual number of changes have to be noted in this Department. Prof. Taussig’s leave of absence, and Prof. Ashley’s recent resignation, have made it necessary to call in several men from the outside to give instruction during the present year. Prof. Taussig’s work is provided for in part by Prof. C. J. Bullock, of Williams College, who is giving the courses on finance and taxation, — and in part by a redistribution of the work among the members of the regular teaching staff. Dr. Andrew has charge of Economics 1, and Dr. Sprague of Economics 6, on the Economic History of the United States. Prof. Ashley’s courses, as announced for the year, have been provided for as follows: Prof. Wm. Z. Ripley, of the Massachusetts Institute of Technology, is giving course 5 on Statistics, and is to give the latter half of course 17 on the Economic Organization and Resources of European Countries, Mr. Meyer having charge of it during the first half year. Dr. C. W. Mixter is giving course 15 on the History and Literature of Economics to the opening of the 19th century. In addition, Prof. Ripley is giving course 5a on Railway Economics. In the second half year, Mr. W. F. Willoughby is to give courses 9 and 9a on Problems of Labor. — The courses preparing for a business career have been extended somewhat. Mr. W. M. Cole continues his course on the Principles of Accounting, and Prof. Wambaugh his course on Insurance. In addition to these, Mr. Bruce Wyman is conducting a new course on the Principles of Law in their Application to Industrial Problems, using the case method as it has been developed in the Law School. The popularity of these courses, in spite of the unusual severity of the examinations, is some indication of their success, and suggests, at least, the practicability of still further extensions. While there is a tendency in some quarters to carry the idea of commercial education to extremes, it is to be noted that these courses neither pretend to take the place of business experience, nor to teach those things which can be learned better in a business office than in any institution of learning. Moreover the work is confined to a mastery of principles and not to the gaining of general information. — The number of students in the Department continues large, there being upward of 480 in course 1, and about 1100 in the Department as a whole, not excluding those counted more than once. The housing of Economics 1 continues to be a problem, as Upper Massachusetts is uncomfortably packed at each meeting. More difficult, however, is the problem of finding small rooms for the 11 sections into which this class is divided for discussion and consultation once each week. — The Board of Overseers have confirmed the appointment of Dr. A. P. Andrew, Dr. O. M. W. Sprague, and Mr. H. R. Meyer as instructors without limit of time. — The change from two dollars to three dollars per year in the subscription price of the Quarterly Journal of Economics has been followed by no diminution in the number of subscribers, and the hope of the editors that the Journal might be conducted on a somewhat more ambitious scale is being realized.

T. N. Carver.

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The Harvard Graduates’ Magazine. Vol. 11, December, 1902, pp. 247-248.

ECONOMICS.

Prof. Taussig’s continued absence has occasioned some readjustment of work within the Department during the present year. Dr. A. P. Andrew has full charge of Course I, Dr. O. M. W. Sprague of Course 6, and Prof. T. N. Carver of Course 2, while Prof. Taussig’s course on Adam Smith and Ricardo has been combined with Dr. C. W. Mixter’s course on Selected Topics in the History of Economic Thought since Adam Smith. Prof. W. Z. Ripley, formerly of the Massachusetts Institute of Technology, has accepted a professorship in our Department, and is giving Course 9 on Problems of Labor and Industrial Organization, the first half of Course 3, on the Principles of Sociology, the second half of Course 17, on the Economic Organization and Resources of European Countries, and Course 4, on the Theory and Method of Statistics. Dr. E. F. Gay, who has spent several years in Europe investigating in the field of economic history, has accepted an instructorship here, and is giving Courses 10 and 11, on the Economic History of Mediaeval and Modern Europe.

The interest in the work of the Department continues to grow. Economics I has 542 students, as compared with about 480 at this time last year. Mr. Wyman’s course (21), on The Principles of Law in their Application to Economic Problems, now contains over 60 students, as compared with 38 last year. Other courses show no great variation one way or the other, except Prof. Ripley’s course in Statistics. The interest which is being revived in this too much neglected field promises well for the future of economic studies in Harvard.

The change in the hour of Economics I from Monday, Wednesday, and Friday, at 9, to Tuesday, Thursday, and Saturday, at 11, was necessary in order to find a suitable room. This makes it possible for a larger number of Freshmen to elect the course, since it no longer conflicts with History I. Whether this is going to prove advantageous or not remains to be seen. At present the policy is to discourage Freshmen from electing this course. If there should be a considerable increase in the number of men who complete the college course in three years, it may be advisable to allow some of the more mature members of the Freshman Class to take Economics I. In that case it will be necessary to increase the number of courses which are somewhat general in their scope. Thus the course on Economic Theory (2) might be made somewhat less special than it now is, and a new course covering the general field of Practical Economics might be started. In this way the evils of too early specialization might be avoided. However, no definite policy has as yet been decided upon.

The Department has secured the use of Room 24, University Hall, as headquarters. In this room the mail of the Department and of the Quarterly Journal of Economics will be received, and the exchanges will be available for immediate inspection. This room has also been fitted up with drawing tables and other apparatus necessary for practical work in statistics. It is the purpose to make it a statistical laboratory.

The accounts of the Quarterly Journal of Economics are satisfactory, and the subscription list is making slow but substantial gains.

T. N. Carver.

_____________________________

The Harvard Graduates’ Magazine. Vol. 11, June, 1903, pp. 560-562.

ECONOMICS.

An interesting comparison between the allied departments of History and Economics is shown below on the basis of the number of students electing such courses. Some of the novel problems entailed by the rapid growth of the very large courses are now being considered by both departments. This rapid growth in large courses, coupled with the increase in the number of highly specialized courses, is bound to make necessary a constant increase in the instructing staff, if full justice to the work is to be done. Among the new courses offered for next year are the following: Economics of Agriculture, by Prof. Carver; Corporation Finance, by Prof. Ripley; Outlines of Agrarian History, by Prof. Gay; and American Competition in Europe since 1873 and The Indirect Activities of the State in Australasia and in Europe, by Mr. Meyer. A general revision of the methods of the Seminary is also under consideration, although plans in that direction are not as yet completed,

1902-3. STUDENTS IN ECONOMICS.

ECONOMICS.				HISTORY.
1^st half year				1^st half year
Econ.	5	60		Hist.	12a	93
“	7b	21		“	16a	151	244
“	8a	100		2^d half year
“	12a	10		Hist.	12b	79
“	10	16		“	16b	148
“	18	45	252	“	29	86	313
2^d half year				½ course thro yr.
Econ.	8b	152		Hist.	17	4	4
“	11b	19		Whole courses.
“	12b	43		Hist.	1	506
“	16	29	243	“	3	6
½ course thro yr.				“	4	7
Econ.	4	15	15	“	6	19
Whole courses.				“	8	8
Econ.	1	519		“	9	36
“	2	26		“	10	188
“	3	45		“	11	67
“	6	122		“	13	214
“	9	111		“	15	13
“	14	15		“	20d	3
“	17	9		“	20e	12
“	20	11		“	21	1
“	20a	5		“	25	3
“	21	60		“	26	11
“	22	6(?)		Hist. of Relig.	2	50	1144
				Deduct 50 given by another Faculty			1705
							1655
________________________________________
Whole courses			11	Whole courses			16
Half-courses		11	5 ½	Half-courses		6	3
			16 ½				19
Including 5 courses of over 100 students, of which 2 are half courses.				Including 5 courses of over 100 students, of which 2 are half courses.

A prompt response to suggestions made to the committee on instruction in economics of the Board of Overseers, as to the needs of the Department, has been made by Mr. Arthur T. Lyman in the shape of a gift of $500, to be expended in the preparation of charts, maps, and other illustrative material. The courses in general descriptive economics, it was felt, can be very greatly improved by the use of such material. Chart cases had already been installed in the new department headquarters, but this will enable the services of an expert draftsman for commencing the preparation of a suitable collection.

Among the other needs of the Department expressed at this meeting was that of an adding and computing machine for use in connection with the courses in Finance and Statistics. It was felt that the so-called “Burroughs Adder,” so generally in use in banking houses and statistical offices, could be utilized to great advantage in the prosecution of original work. The cost of such a machine is approximately $350. It is also to be hoped in the course of time that a collection of illustrative material other than maps may be commenced. This would include, for example, samples of the leading raw materials whose classification enters into tariff discussions and debates, photographs of social and industrial establishments, and other material of this sort. Such a collection, within moderate limits, along the lines of the Philadelphia Commercial Museums, has already been begun at Dartmouth, Ann Arbor, and other places. It should be kept in mind as a possible department at Cambridge.

_____________________________

The Harvard Graduates’ Magazine. Vol. 12, December, 1903, p. 246.

ECONOMICS.

Prof. Taussig has returned after an absence of two years, entirely restored in health. His resumption of work completes the working corps in the department, enabling it to offer its full list of announced courses. The number of graduate students is considerably increased over the preceding years, and there is every prospect of a successful resumption of the regular work in all lines.

The November number of The World’s Work contains the first of a noteworthy series of articles by Prof. Carver upon agricultural conditions in the West. Prof. Carver made a tour of some hundreds of miles on horseback during the summer, principally in the corn belt. It is his intention to supplement this tour by similar observations in other parts of the country in the coming years. This issue of The World’s Work forms distinctively a Harvard number, containing also an article on The Progress of Labor Organizations, by Prof. Ripley.

Among the new courses announced for this year are several by Prof. Bullock, one upon “The History and Literature of Economics,” with an additional research course entitled “Studies in American Finance.” Prof. Gay’s course upon ” The German Economists” last year met with so cordial a response that it has been expanded to a full course, covering the French as well as the German authorities. Mr. H. R. Meyer, having re- signed as an instructor, will continue as a lecturer, giving two courses upon “American Competition in Europe since 1873” and “The Industrial Activities of the State in Australasia and in Europe.”

W. Z. Ripley.

_____________________________

The Harvard Graduates’ Magazine. Vol. 13, December, 1904, p. 278.

ECONOMICS.

Economics 1 opens with an enrolment of 491 students, and is again the largest elective course in College. Government 1 is a close second, with 481 students; History 1 has 436. The numbers in Economics 1 are distinctly less than last year, which doubtless reflects the decline in attendance in the College at large. More than half of the total are Sophomores (255) ; the Juniors number 102, and the Freshmen 73. The resort to these three courses shows how strong is the trend to ward instruction in subjects connected with political life, and how great is the need for careful teaching and careful organization. Economics 1 continues to be conducted on the system which has been in use for some years past, and has been followed also in Government 1 and History 1. Two hours of lectures are given each week; for the third hour the course is divided into sections, in which there is a weekly examination, coupled with oral discussion of the subjects taken up during the week. Five assistant instructors conduct these sections, and the system seems to solve the problem of large courses satisfactorily.

In line with the policy adopted last year in the Department of paralleling the various undergraduate courses with advanced courses for graduate students, involving more or less research in each special field, Prof. Andrew is this year giving an advanced course upon the theories of crises, as a continuation of his larger course upon crises and cycles of trade.

An experiment intended to deal with the increasing difficulty of giving required reading to constantly enlarging classes will be tried in Economics 9b, through the publication of a casebook in economics similar to those in use in the Law School. The plan is to reprint official documents and detailed descriptions of particular phases of corporate economics, leaving to the lectures the task of supplying the connecting links and of tracing the development of the subject as an organic whole.

A valuable collection of charts of railway mortgages has recently been acquired through the generosity of graduates. These charts, prepared for the different railway systems, illustrate the exact character and situs of the securities. The collection of other charts and diagrams, made possible through the generosity of Mr. Arthur T. Lyman, is also making progress.

Source: See the listings for the Harvard Graduates’ Magazine at Hathitrust. These are some of the items found using the index for the first twenty volumes.

Tags AndrewAP, Ashley, Bullock, Carver, Cole, ColeWM, CummingsEdward, CummingsJohn, Cunningham, Dunbar, Gay, Hill, Macvane, MeyerHR, Mixter, Peabody, Ripley, Sprague, Taussig, Wambaugh, Willoughby, Wyman

Chicago Columbia Cornell Courses Economists Harvard Johns Hopkins Michigan Pennsylvania Yale

Graduate Economics Courses. 23 US Universities. 1898-99

Post author By Irwin Collier
Post date 2015-06-21

In this posting we have a compilation of virtually all the graduate courses in economics (and sociology) offered at the major graduate schools in the U.S. at the end of the 19th century. Source

Barnard
Brown
BrynMawr
California
Chicago
Columbia
Cornell
Harvard
Hopkins
Stanford
Michigan
Minnesota
Missouri
NYU
Northwestern
Pennsylvania
Princeton
Radcliffe
Vanderbilt
Wellesley
WesternReserve
Wisconsin
Yale

____________________

EXPLANATORY

“ To state the numbers of Graduate Students who have taken courses in each department during 1897-8, thus giving an indication of the amount of graduate work actually going on. A Graduate Student often takes courses in two or more departments; such student counts once in each of those departments….

…The number of hours per week is put in small Roman, the number of weeks in Arabic numerals. A dash, followed by a mark of interrogation, calls attention to the absence of specific information. Unless months are given, a course usually extends from September or October to May or June (inclusive). The abbreviations for the names of the months are as follows: Ja., F., Mar., Ap., My., Jun., Jul., Au., S., O., N., D.

…[Enclosed] in brackets all courses not to be given in 1898-9. Bracketed courses usually may be expected in 1899-1900.

…[Marked] with the asterisk all courses “not designed primarily for Graduate Students.” It should be borne in mind that “Graduate work” in each institution is conditioned by local plans of administration, as well as by the previous preparation of Graduate Students. The marking of a course with an asterisk simply means that (under the conditions prevailing in his institution) the instructor does not offer the course with a primary purpose of meeting the needs of Graduate Students. But the inclusion of the course in these lists indicates that it is often useful to such students.” [p. liii]

ECONOMICS, SOCIOLOGY, ANTHROPOLOGY, AND ETHNOLOGY.

(Including Finance and Statistics. See also 9 and 11.)

BARNARD.
16 Graduate Students, 1897-8.

[All Graduate Courses in Columbia under 10 open to Barnard Graduate Students.]

BROWN.
8 Graduate Students, 1897-8.

Henry B. Gardner, Assoc. Prof. of Pol. Econ.
A.B., Brown, ’84, and A.M., ’87; Ph.D., Johns Hopkins, ’90;
Instr. in Pol. Econ., Brown, ’88-’90.

Hist. of Economic Thought.* iii, 12, S.-D.
Economic Policy. iii, 12, S.-D.
Money and Banking.* iii, 11, Ja.-Mar.
Public Finance.* iii, 10, Ap.-Jun.
Practical Economic Questions.* iii, 12, S.-D.
Economic Theory (adv.) iii, 11, Ja.-Mar.

George G. Wilson, Prof. of Social and Pol. Science.
A.B., Brown, ’86, A.M., and Ph.D., ’89;
Assoc. Prof. of Social and Pol. Science, ’91-5.

Princ. of Sociol.* iii, 12, S.-D.
Social Conditions and Probs.* iii, 21, Ja.-Jun.
Current Social Theory and Practice. i, 33.
Sociology. Seminary. Fort.

James Q. Dealey, Asst. Prof. of Social and Pol. Science.
A.B. Brown, ’90, A.M., ’92, and Ph.D., ’95.

Devel. of Social Theory. iii, 12, S.-D.
Social Philos. iii, 11, Ja.-Mar.
[Segregation of Population. iii, 10, Ap.-Jun.]

Alpheus S. Packard, Prof. of Zool. and Geol.
Ph.D., Bowdoin;
Libr. and Custodian, Boston Soc. Nat. Hist., ’65; Lect., Mass. Agricult. Col. ’69-’77; Maine Agricult. Col., ’71; Bowdoin, ‘73-6.

Anthropology.* iii, 10, Ap.-Jun.

BRYN MAWR.

3 Graduate Students, 1897-8.
1 Fel. $525 in Hist. of Political Science.

Lindley M. Keasbey, Assoc. Prof. of Pol. Sci.
A.B., Harv., ’88; Ph.D., Columbia, ’90;
Asst. in Econ., Columbia, and Lect. on Pol. Sci., Barnard, ’92; R.P.D., Strassburg, ’92; Prof. of Hist., Econ., and Pol. Sci., State Univ. of Col., ’92-4.

Economic Institutions. i, 30.
Am. Primitive Society. i, 30.
Am. Commerce. i, 30.
Descriptive Sociology.* iii, 30.
Theoretical Sociology.* ii, 30.

CALIFORNIA.

1 Graduate Student, 1897-8.

Bernard Moses, Prof. of Hist. and Pol. Econ.
Ph.D., Heidelberg.

Economic Theory.* iv, 16, Ja.-My.
[Econ. Condition of Laborers in Eng. ii, 16, Au.-D.]

Carl C. Plehn, Assoc. Prof. of Hist. and Pol. Science.
A.B., Brown; Ph.D., Gottingen.

[Federal Expenditures, Revenues and Debts. ii, 32.]
Industrial and Commercial Hist. of U. S. ii, 32.
[Currency and Banking. ii, 32.]
Finance and Taxation.* iv. 16, Ja.-My.
Statistics. Hist., Theory, and Method, as applied to Econ. Investigation.* ii, 16, Au.-D
Local Govt. and Admin. —?

CHICAGO.

40 Graduate Students, 1897-8; and 40 in Summer Quarter, ‘97, in Political Economy;55 Graduate Students, 1897-8; and 95 in Summer Quarter, ’97, in Sociology. Pol. Econ., Club and Social Science Club fortnightly. Dept. libs. of Pol. Econ., Sociol. and Anthropol. have leading magazines and 6,000 vols. In Anthropol. Dept. of Walker Museum, coll. of 3,000 pieces on Archaeol. of Mexico,valuable colls. on Cliff and Cave Dwellings, and Japan and Aleutian Islands; also complete anthropometrical apparatus. Access to the Fieid Columbian Museum. 6 Fels. in Pol. Econ. 4 in Sociol. 1 Fel. in Anthropol.

J. Laurence Laughlin, Head Prof. of Pol. Econ.
A.B., Harv., ’73; A.M., and Ph.D., ’76;
Instr. in Pol. Econ., same, ’83-8; Prof. Pol. Econ. and Finance, Cornell, ’90-2.

Money and Banking. iv, 12, Jul.-S.
Seminar. ii, 12, O.-D.
Money. iv, 12, Ja.-Mar.
Seminar. ii, 12, Ja.-Mar.
Unsettled Problems. iv, 12, Ap.-Jun.
Seminar. ii, 12, Ap.-Jun.

Bernard Moses, Prof. of History and Political Economy, Univ. of Cal.
Ph.B., Univ. of Mich., ’70; Ph.D., Heidelberg, ‘73;
Prof. of History and Engl. Lit., Albion Col. ’75; Prof. of Hist. Univ. Cal. ’75-6; Prof. Hist. and Pol. Econ. Univ. Cal. ’76.

Practical Economics.* iv, 12, Jul.-S., and O.-D.
Advanced Course on Theory. iv, 12, Jul.-S., and O.-D.

Adolph C. Miller, Prof. of Finance.
A.B., California, ‘87 A.M., Harv., ‘88;
Instr., in Pol. Econ., Harv., ’89-’00; Lect. on Pol. Econ., California, ’90-1, and Asst. Prof.-elect of Hist. and Pol. Sci., same, ’91; Assoc. Prof. Pol. Econ. and Finance, Cornell, ’91-2; Assoc. Prof. Pol. Econ., Chicago, ’92-3.

[Public Finance. iv, 12, O.-D.]
[Economic and Social Hist. iv, 24, Ja.-Jun.]
Public Finance.* iv, 12, Ja.-Mar.
Financial Hist.* U. S. iv, 12, Ap.-Jun.
[Pol. Econ (adv).* iv, 12, Ap.-Jun.]
[Taxation. iv, 12, Ja.-Mar.]
Seminar in Finance. ii, 12, Ja.-Mar.

William Hill, Asst. Prof. of Pol. Econ.
A.B., Kansas, ’90; A.B., Harv., ’91, and A.M., ’92;
Fellow, Harv., ‘91-3; Instr. Pol. Econ., same, ’93; Tutor Pol. Econ., Chicago, ’93-4; Instr., same, ’94-7.

Tariff Hist.* iv, 12, Ja.-Mar.
Railway Transportation.* iv, 12, O.-D.
Oral Debates.* ii, 24, O.-Mar. (With Messrs. Damon and Lovett.)
Comparative Railway Legislation.* iv, 12, Ja.-Mar.
Banking.* iv, 12, Ap.-Jun.
Money and Banking. iv, 12, O.-D.

Thorstein B. Veblen, Instr. in Pol. Econ.
A.B., Carleton, ‘80; Ph.D., Yale, ‘84;
Fellow in Economics and Finance, Cornell, ’91-2; Fellow, Chicago, ’92-3; Reader in Pol. Econ., same, ’93-4; Tutor, same, ’94-6.

Hist. of Pol. Econ.* iv, 12, O.-D.
Scope and Method of Pol. Econ.* iv, 12, Ja.-Mar.
Socialism. iv, 24, Ja.-Jun.
American Agriculture. iv, 12, Ap.-Jun.
Economic Factors of Civilization. iv, 12, Ap.-Jun.

Henry Rand Hatfield, Instr. in Pol. Econ.
A.B., Northwestern, ’92; Ph.D., Chicago, ’97;
Prof. of Pol. Econ. Washington Univ., ’95-7.

Railway Accounts, Exchanges, etc.* iv, 12, O.-D.
Processes of Leading Industries. iv, 12, Ja.-Mar.
Coöperation.* iv, 12, Ap.-Jun.

A.W. Small, Head Prof. of Sociol.
A.B., Colby, ’76, and A.M.’79; Ph.D., Johns Hopkins, ’89;
Prof. Hist. and Pol. Econ., Colby, ’81-8; Reader in Hist., Johns Hopkins, ’88-9; Pres., Colby, ’89-’92.

Social Teleology. iv, 12, Ja.-Mar.
Sociol. Methodology. viii, 6, Jul.-Au., and iv, 12, O.-D.
[Philos. of Soc. iv. 12, O.-D. State and Govt., Ja.-Mar. Socialism, Ap.-Jun. Social Functions U.S. Govt. iv, 6, Jul.-Au. Contemp. Soc, Jul.-Au.]
[Sem. Probs. in Social Teleology. ii, 36, O.-Jun.]
Social Dynamics. iv, 12, Ap.-Jun.
[Historical Sociology. iv, 12, Ja.- Mar.]
[Outlines of Constructive Social Philos. Philos. of Society. iv, 12, O.-D. The Social Problem. iv, 12, Ja.-Mar. Philos. of State and Govt. iv, 12, Ap.-S.]
[Seminar. Problems of Social Dynamics. ii, 36, O.-Jun.]
Seminar. Problems in Methodology and Classification. ii, 36, O.-Jun.
[Am. Experience with State Control of Social Action. iv, Ja.-Mar.]
Controlling Ideas of Modern Society. iv, 12. Ap.-Jun., and iv, 6, Jul.-Au.
[Some Pending Problems in Sociology. iv, 6, Jul.-Au.]
[The Sociological Method of Stating the Social Problem and of Arranging Evidence, Applied to a Selected Hist. Period. iv, 6, Jul.-Au.]
[Comparative Study of Social Forces in Am. and French Democracy. iv, 6, O.-D.]

C. R. Henderson, Assoc. Prof. of Sociol.
A.B., Old Univ. of Chicago, ’70, and A.M., ‘73; D.B. Baptist Union Theol. Sem., ’73; D.D., same, ’83;
Assist. Prof. Sociol., Chicago, ’92-4.

Methods of Social Amelioration. Sem. ii, 36, O.-Jun.
[The Domestic Inst. iv, 12, O.-D.]
Associations for Sociability and Culture. iv, 12, O.-D.
[Social Reform. iv, 12, Ja.-Mar.]
[Beneficent Forces of Cities. iv, 12, Ja.-Mar.]
Social Inst. of Organized Christianity. iv, 12, O.-D.
Social Treatment of Crime. iv, 6, Au.-S.
[Bibl. and Eccles. Social Theories. iv, 12, Ja.-Mar.]
[Field Work in Local Institutions of Charity and Correction. iv, 12, Ap.-Jun.]
The Family.* iv, 12, O.-D.
The Labor Movement.* iv, 12, Ja.-Mar.
Amelioration of Rural Life. iv, 6, Jul.-Au.
Modern Cities. iv, 12, Ja.-Mar.
Contemporary Charities. iv, 12, Ap.-Jun.
Philanthropy. iv, 12, Ap.-Jun.

Marion Talbot, Assoc. Prof. of Sanitary Science.
A.B., Boston Univ.’80, and A.M., ’82; B.S., Mass. Inst. of Technology, ’88;
Instr. Domestic Science, Wellesley, ’90-2.

General Hygiene.* iv, 12, Ap.-Jun.
Seminar. Sanitary Science.* iv, 36, O.-Jun.
House Sanitation.* iv, 12, O.-D.
Economy of Living. iv, 12, Ap.-Jun.
Sanitary Aspects of Water, Food, and Clothing. iv, 12, Ja.-Mar.

Charles Zueblin, Assoc. Prof. of Sociol.
Ph.B., Northwestern, ’87; D.B., Yale, ’89.

Social Philos. of Eng. People in the Victorian Era. iv, 12, Ap.-Jun. and Jul.-S.
Structure of Eng. Society.* iv, 12, Ap.-Jun. and Jul.-S.

G. E. Vincent, Asst. Prof. of Sociology.
A.B., Yale, ’85; Ph.D., Chicago, ’96;
Vice-Principal, Chautauqua System, ‘88-pr; Fellow in Sociology, Chicago, ’92-4.

Course in Statistics.
[Province of Sociol. iv, 12, O.-D.]
[Social Structure. iv, 12, Ja.-Mar.]
The Social Mind and Education. iv, 12, Ap.-Jun.
Contemporary Society in the U. S.* iv, 12, O.-D.
Am. City Life.* iv, 12, Ja.-Mar.
Introd. to Study of Society.* iv, 12, Ap.-Jun.
Introd. to Sociology,* iv, 12, O.-D.
The Theory of the Social Mind. iv, 12, Ja.-Mar.

W. I. Thomas, Asst. Prof. of Sociol.

A.B., Univ. of Tenn., ’84; A.M., ’85; Ph.D., Chicago, ’96;
Prof. of English, Oberlin, ’89—’93; Fellow in Sociol., Chicago, ’93-4; Instr. in Folk-psychology, Chicago, ’95-6.

Folk-psychol. iv, 12, O.-D., and Ap.-Jun.
[Primitive Social Control. iv, 12, O.-D. Seminar.]
[Art and Amusement in Folk-psychol. iv, 12, Ja.-Mar. Sex. Ap.-Jun.]
[Analogy and Suggestion in Folk-psychol. iv, 12, Ja.-Mar. The Child. Ap.-Jun.]
[Intro. to Study of Soc.* iv, 12, Jul.-S.]
Ethnological Æsthetic. iv, 12, Ap.-Jun.
The Primitive Social Mind. iv, 12, Ja.-Mar.
Sex in Folk-psychology. iv, 12, Ja.-Mar.
[Hungarian and South Slavonian Ethnology and Folk-psychol. iv, 12, O.-D.]
Primitive Social Control. iv, 12, O.-D.

Lester F. Ward, Professorial Lecturer in Sociol., Smithsonian Institution.
A.B., Columbia, ‘69; LL.B., same, ‘71; A.M., ’73; LL.D., ’97.

Dynamic Sociology. iv, 4, Au.-S.
Social Mechanics. vi, 4, Au.-S.

Henry W. Thurston, Instr. in Econ. and Civics, Hyde Park High School.
A.B., Dartmouth, ’86.

A Method of Applying Sociological Pedagogy to the Teaching of Economics in Secondary Schools. iv, 6, Jul.-Au.

Frederick Starr, Assoc. Prof. of Anthropology.
S.B., Lafayette, ‘82; S.M. and Ph.D., ’85;
Prof. Biological Sciences, Coe Col., ‘84-8; in charge Dept. Ethnology, Am. Mus. of Natural Hist., ‘89-’91.

Lab. Work in Anthropology. iv, 36, O.-Jun.
Physical Anthropol. Lab. iv, 36, O.-Jun.
[Physical Anthropol. iv, 12, O.-D.]
Mexico Archaeology, Ethnology. iv, 12, Jul.-S.
General Anthropol.* iv, 12, Ap.-Jun.
Ethnology American Race. iv, 12, Jul.-S.
Prehistoric Archaeology. American. iv, 12, O.-D.
[Field Work in Anthropol. Mexico. Jul.-S.]
Prehistoric Archaeol. European. iv, 12, O.-D.
General Ethnology.* v, 12, Jul.-S.
General Anthropology.* iv, 6, Jul.-Au.
Ethnology American Race. iv, 6, O.-N.
Mexico. Archaeology, Ethnology. iv, 6, Au.-S.
[Comparative Technology. iv, 36, O.-Jun.]

Merton Leland Miller, Lecturer in Anthropology.

A.B., Colby Univ., ’90; Ph.D., Chicago. ’97.
Instr. Eureka Acad., ’92; Grad. Stud. at Chicago, ’92-7; Asst. In Anthropol. Mus., ‘94-7;

The Peoples of Europe. iv, 6. O.-N.
Physical Anthropology. Laboratory Work. iv, 36, O.-Jun.

J. H. Breasted, Asst. Prof. of Egyptology and Semitic Langs.; Asst. Dir. of Haskell Museum.
A.B., Northwestern, ’88;A.M., Yale, ‘92; A.M. and Ph.D., Berlin, ’94;
non-res. Fellow, Chicago, ’92-4; Asst. in Egyptology.

Chicago-Egyptian Life and Antiquities. iv, 12, Ap.-Jun.

C. H. Hastings.
A.B., Bowdoin, ’91.

Bibliography of Sociology. iv, 6, Au.-S.

COLUMBIA.

63 Graduate Students, 1897-8.
[All graduate courses under 10 open to Barnard Graduate Students.]

Richmond Mayo-Smith, Prof. of Pol. Econ. and Social Science.
Ph.D. (hon.), Amherst.

Pol. Econ. (el).* iii, 14, F.-Jun. (With Mr. Day.)
Pract. Pol. Econ:
(a) Problems of Mod. Industry. iii, 16, O.-F.
(b) Problems of Exchange. iii, 14, F.-Jun.
(c) Problems of Distribution. iii, 14, F.-Jun
(d) Readings in Marshall’s “Prin. of Econ.” i, 30.
Statistics and Sociology. ii, 16, O.-F.
Statistics and Economics. ii, 14, F.- Jun.
Theory, Technique, and Hist. of Statis. Sci. ii, 14, F.-Jun.
Seminar. Statistics. i, 30.
Seminar. Pract. Econ. i, 30.

Edwin R. A. Seligman, Prof. of Pol. Econ. and Finance.
LL.B., Ph.D., Columbia, ’84.

Econ. Hist. of Europe and America. ii, 16, O.-F. (With Mr. Day.)
Sci. of Finance. ii, 30.
Fiscal and Indus. Hist. of U. S. ii, 16, O.-F.
Hist. of Economics. ii, 30.
Railroad Problems. ii, 14, F.-Jun.
[Hist. of Pol. Econ. ii, 30.]
Seminar. Pol. Econ. and Finance. i, 30.

John B. Clark, Prof. of Pol. Econ.
Ph.D., Amherst, ’75;
Prof. Hist. and Pol. Econ., Carleton, ’77-’82; Prof. of same, Smith, ’82-’93; Lect. Johns Hopkins, ‘92-5; Prof. Pol. Econ., Amherst, ’92-5.

Econ. Theory. Statics. ii, 16, O.-F.
Dynamics. ii, 14, F.-Jun.
Communistic and Socialistic Theories. ii, 16, O.-F.
Theories of Social Reform. ii, 14. F.-Jun.
Seminar. Pol. Econ. i, 30.

Franklin H. Giddings, Prof. of Sociology.
A.M., Union.

General Sociology. ii, 16, O.-F.
Progress and Democracy. ii, 14, F.-Jun.
Pauperism, Poor Laws, and Charities. ii, 16, O.-F.
Crime and Penology ii, 14, F.-Jun.
Seminar. Sociology. i, 30.

William Z. Ripley, Lect. on Anthropology.
B.S., Mass. Inst. of Tech , ’90; A.M., Columbia, ’92; Ph.D., Columbia, ’93;
Assoc. Prof. Pol. Econ. and Sociol., Mass. Inst. of Tech., 94-7; Lect., Hartford School of Sociology, ’95-6.

Physical Geog. Anthropol. and Ethnology. ii, 16, O.-F.

Livingston Farrand, Instr. in Physiolog. Psychol.
A.M., Princeton, ’91; M.D., Columbia, ’91.

General Anthropology. ii, 14, F.-Jun.
Anthropology. Primitive Culture. ii, 30.

Franz Boaz, Inst. in Anthropol.
Ph.D., Kiehl, ’81.

Phys. Anthropol. ii, 30.
Applica. of Statistical Methods to Biolog. Problems (adv). iii, 30.
North Am. Langs. Seminar. ii, 30.

George J. Bayles.
Ph.D., Columbia, ’95.

Civil Aspects of Ecclesiastical Organizations. i, 30.

CORNELL.
14 Graduate Students, 1897-8.

J. W. Jenks, Prof. of Pol. Econ. and Civil and Social Instit.
A.B., Michigan, ’78, and A.M., ’79; Ph.D., Halle, ’85;
Prof. Pol. Econ., Knox, and Indiana State Univ.; Prof. of Polit., Municipal, and Social Institutions, ’91-2.

Economic Legislation.* ii, 32.
Economics and Politics.*

Charles H. Hull, Asst. Prof. of Pol. Econ.
Ph.B.. Cornell, ’86; Ph.B., Halle, ’92;
Instr. in Pol. and Sociol. Institutions, Cornell. ’92-3.

Money, Credit, and Banking*. iii, 32.
Railroad Transportation.* iii, 9, Ap.- Jun.
Finance, Taxation, Admin.* Public Debts. ii, 32.
Recent Econ. Theory. Am., Eng., Continental.* ii, 32.
Earlier Econ. Theory (Prior to J. S. Mill).* ii, 32.
Economic and Commercial Geography. ii, 23, O.-Mar.
Seminary. ii. 32.

Chas. J. Bullock, Instr. in Economics.
A.B., Boston, ’89; Ph.D., Wisconsin, ’95.

Industrial Hist., Eng. and Am.* ii, 32.
Internat. Trade and Tariff Hist. U. S.* ii, 32.
Labor Question.* ii, 12, S.-D.
Hist. Trades Unions.* ii, ll, Ja.-Mar.
Socialism.* ii, 9, Ap.-Jun.

Walter F. Willcox, Prof. of Social Science and Statistics.
A.B., Amherst; Ph.D., Columbia;
Instr. in Philos., Cornell, ’91-2; Asst. Prof. Social Science and Pol. Econ., ’92-4.

Social Science (el).* ii, 32.
Social Statistics.* ii, 32.
[Theoretical Social Science (adv).* ii, 32.]
Practical Social Science (adv).* ii, 32.
[Anthropology.* ii, 32.]
Philos. and Pol. Econ.* ii, 32.
Seminary. ii, 32.

Wm. E. Baldwin, Pres. Long Island R. R.
A.B., Harvard, ’85.

Pract. Railroad Management. Lects. i-ii, Ja.-Mar.

Charlton T. Lewis, Counsel Mutual Life Ins. Co.

Principles of Insurance. Lects. i, 15,
—?

B. F. Fernow, Director of Col. of Forestry.
Grad. State Col. of Forestry, Münden, Prussia;
Chief of Dir. of Forestry, U. S. Dept. of Agric, ’86-’92, LL.D., Wisconsin.

Forestry: Econ and Pol. Aspects. ii, 21, Ja.-Jun.

HARVARD.
21 Graduate Students, 1897-8.
(Courses marked [R] are open to Radcliffe Graduate Students.)

Fel. in Pol. Econ., $450; in Soc. Sci., $500; in Archaeol. and Ethnol., $500 and $1,050, and Schol. of $200. Prize of $150 for Essay in Pol. Sci., two of $100 each for essays on social questions. Peabody Mus., Am. Archaeol., and Ethnol., with Lib., is intended for research.

Charles F. Dunbar, Prof. of Pol. Econ.
A.B., Harv., ’51; LL.D., same, ’91.

Financial Legislation of U. S.* ii, 15, F.-Jun.
[Financial Admin. and Pub. Debts. iii, 15, F.-Jun.]
Money and Banking. v, 15, O.-Ja.
Seminary. Economics. i, 30. (With Prof. Taussig and Asst. Prof. Cummings.)

Frank W. Taussig, Prof. of Pol. Econ.
A.B., Harv., ’79; Ph.D., ’83, and LL.B., ’86.

Econ. Theory in the 19th Cent.* iii, 30. (With Prof. MacVane.)
[Theory and Methods of Taxation. Special ref. to U. S. Local Taxation.* ii-iii, 15, O.-Ja.]
Scope and Method of Economic Theory and Investigation.* ii-iii, 30.

William J. Ashley, Prof. of Econ. Hist.
A.B., Oxford, ’81, and A.M., ’85; Fel., Lincoln Col., and Lect. on Hist., Lincoln and Corpus Christi Col., Oxford, ’85-8; Prof. Pol. Econ. and Const. Hist., Toronto, ’88-, ‘92.

[Mediaeval Economic Hist. of Europe.* ii-iii, 30.]
[Hist. and Lit. of Economics to close of 18th Cent.* ii-iii, 30.]

Edward Cummings, Asst. Prof. of Sociology.
A.B., Harv., ’83; A.M., same, ’85.

Princ. of Sociology. Devel. of Modern State.* ii-iii, 30.
Socialism and Communism.* ii-iii, 30.
Labor Question in Europe and U. S.* iii, 30. (With Dr. John Cummings.)

John Cummings, Instr. in Pol. Econ.
A.B., Harv., 91; Ph.D., Chicago, ’94.

Theory and Methods of Statistics*. iii, 30.

H. R. Meyer, Instr. in Pol. Econ.
A.B., Harv. ’92; A.M., ’94.

Public Works, Railways, etc., under Corporate and Pub. Management.* iii, 15, F.-Jun.

G. S. Callender, Instr. in Pol. Econ.
A.B., Oberlin Col., ’91; A.B., Harv., ’93; A.M., ’94; Ph.D., ’97.

Economic Hist. of the U. S.*
Industrial Revolution of the 18th and 19th Cents.* ii-iii, 15, F.-Jun.
Western Civilization in its Economic Aspects.* ii-iii, 15, F.-Jun.

Francis G. Peabody, Prof. of Christian Morals.
A.B., Harv., ’69; A.M. and S.T.B., ’72; S.T.D., Yale, ‘87.

[Ethics of Social Questions.* iii, 30. (With Dr. Rand.)]
[Sociolog. Sem. Christian Doct. of the Social Order. ii, 30.]

Frederick W. Putnam, Prof, of Archaeology and Ethnology, and Curator of Peabody Museum.
A.M. (hon,), Williams, ’68; S.D.(hon.), Univ. of Pa., ’94;
Curator Dept. Anthropol., Am. Mus., Central Park, N. Y.

Primitive Religion. iii, 30. (With Mr. Dixon.)

[R] Am. Archaeol. and Ethnol. Research.

F. Russell, Asst. in Anthropology.
S.B., Univ., of Iowa, ’92, and S.M., ’95; Asst., same, ’94-5.

Gen. Anthropology, Archaeology, Ethnology.* iii, 30. (With an Asst.)
[R] Somatology. iii, 15, F.-Jun.
[R] Somatology (adv). Research—?

JOHNS HOPKINS.
9 Graduate Students, 1897-8.

Sidney Sherwood, Assoc. Prof. of Pol. Econ.
Ph.D., Johns Hopkins, ’91.

Legal Aspects of Economics. ii, 15, O.-F.
Corporations and Economics. ii, 15, F.-My.
Econ. Conference. ii, 30.
Economic Theory. ii. 30.
Economics (adv).* ii, 15, O.-F.

Jacob H. Hollander, Assoc. in Economics.
Ph.D., Johns Hopkins, ’94.

Development of Economic Theories. ii, 15, O.-F.
Financial Hist. of U. S. ii, 15, F.-My.
Economics (adv)*. ii, 15, F.-My.
Current Congressional Happenings.* i, 30.

LELAND STANFORD, JR.
2 Graduate Students, 1897-8.

Hopkins Railway Library, about 10,000 vols.; Transportation, Railway History, Economics, and Law.

Amos G. Warner, Prof, of Applied Economics.
B.L., Nebraska, ’85; Ph.D., Johns Hopkins, ’88;
Prof,of Pol. Econ., Nebraska, ’87-’91.

[Corporate Industry.* iii, 15, S.-D.]
[Personal Economics.* ii, 15, S.-D.]
Seminary. (With Ross and Durand.) ii, 32.

Edward A. Ross, Prof. of Sociology.
A.B., Coe Col., ’86; Ph.D., Johns Hopkins, ’91;
Prof. of Econ. and Social Science, Indiana, ’91-2; Assoc. Prof. of Pol. Econ, and Finance, Cornell, ’92-3.

[Economic Theory (adv). ii, 15, S.- D.]
[Sociology.* iii, 32.]

Mary R. Smith, Asst. Prof. of Social Sci.
Ph.B., Cornell, ’80, and M.S., ’82; Ph.D., Stanford, ‘96;
Instr. in Hist. and Econ., Wellesley, ’86- ’90.

[Statistics and Sociology.* iii, 17, Ja.-My.]

Edward D. Durand, Asst. Prof. of Finance and Administration.
A.B., Oberlin, ’93; Ph.D., Cornell, ’96;
Legislative Librarian, N. Y. State Library, ’96-7; Student, Berlin, ’97.

Practical Economic Questions.* iii, 17, Ja.-My.

MICHIGAN.
10 Graduate Students, 1897-8.

Henry C. Adams, Prof, of Pol. Econ. and Finance.
A.B., Iowa Col., ’74; Ph.D., Johns Hopkins, ’78;
Lect., Johns Hopkins, and Cornell; Statistician to Interstate Commerce Commission: Special Expert Agent on Transportation, 11th Cens.; Director of Economics, School of Applied Ethics.

[Devel. and Significance of Eng. Pol. Econ. iii, 6, O.-N.]
Devel. and Significance of Hist. School of Econ. iii, 6, O.-N.
[Devel. and Significance of Austrian School of Econ. iii, 6, O.-N.]
Relations of the State to Industrial Action. iii, 6, F.-Mar.
[Labor Organizations and Corporations as Factors in Industrial Organization. iii, 6, F.-Mar.]
History of Industrial Society.* ii, 17, O.-F.
Transportation Problems. iii, 17, F.- Jun.
Sem. Economics. ii, 17, O.-F.

F. M. Taylor, Junior Prof. of Pol. Econ. and Finance.
A.B., Northwestern, ’76, and A.M., ‘79; Ph.D., Mich., ’88;
Prof. of Hist. and Politics, Albion, ’79-’92.

Hist. and Theory of Money and Banking.* ii, 17. O.-F.
Hist. of Pol. Econ. ii, 17, F.-Jun.
Principles of Finance.* ii, 17, F.-Jun.
Sem. Economics. ii, 17, F.-Jun.
Socialism.* ii, 17; F.-Jun.
[The Value of Money, Theory, and Statistics. iii, 6, O.-N.]
[The Standard of Value. iii, 6, N.-D.]
Paper Money. iii, 6, O.-N.
[Social Philos., with spec. ref. to Econ. Probs. iii, 6, F.-Mar.]
[Credit as a factor in Production. iii, 6, Mar.-Ap.]
The Agricult. Problem. iii, 6, Mar.-Ap.

C. H. Cooley, Instr. in Sociology.
A.B., Mich., ’87; Ph.D., same, ’94.

Principles of Sociology.* iii, 17, O.-F. Problems, F.-Jun.
Sociology (adv).* ii, 17, F.-Jun.
Histor. Devel. of Sociolog. Thought. iii, 6, Ja.-F.
Nature and Process of Social Change. iii, 6, My.-Jun.
[Aims and Methods in Study of Society. iii, 6, Ja.-F.]
Social Psychology. iii, 6, My.-Jun.
[Current Changes in Social Organization of U. S. iii, 6, My.-Jun.]
[Theory of Population. iii, 6, Ja.-F.]
Theory of Statistics.* i, 34.
Special Studies in Statistics.* ii, 17, F.-Jun.

MINNESOTA.
26 Graduate Students, 1897-8.

William W. Folwell, Prof. of Pol. Science.
A.B.,Hobart, ’57; A.M., ’60; LL.D., ’80;
Prof. Math., Hobart, ’59-’61; Prof. Math. and Engineering, Kenyon Col., ‘69; Pres., Univ. of Minn., ’69-’84.

Pol. Sci. Sem. i, 36.
Individual Research. ii, 36.

Frank L. McVey, Instr. in Economics.
A.B., Ohio Wesleyan, ‘93; Ph.D., Yale, ‘95;
Instr. in Hist. Teachers’ College, N. Y., ’96.

Comparative Econ. Doctrine. ii, 36.
Economics.* iv, 13, S.-N.
Modern Industrialism.* iv, 12, Mar.-Jun.

Samuel G. Smith, Lecturer on Sociology.
A.B., Cornell Col., ’72; A.M.. and Ph.D., Syracuse, ’84; D.D., Upper Iowa Univ., ’86.

Social Sci.* iii, 12, Mar.-Jun.
Indiv. Research. i, 36.

MISSOURI.
3 Graduate Students, 1897-8.

F. C. Hicks, Prof, of Hist. and of Pol. Econ.
A.B., Univ. of Mich., ’86; Ph.D., same, ’90.

Economic History.* iii, 36.
Problems in Economics.* iii, 36.
Modern Financial Systems.* ii, 36.
Seminar. ii, 36

NEW YORK.
21 Graduate Students, 1897-8.

Frank M. Colby, Prof. of Economics.
A.B., Columbia, ’88, and A.M., ’89.

Practical Economics. ii, 24.
Economic Theory. ii, 24.
Hist. of Indust. Devel. ii, 30.

I. F. Russell, Prof. of Sociology, and of Law in N. Y. U. Law School.

A.M., N. Y. U., ‘78; LL.M., Yale, ‘79; D.C.L., Yale, ‘80; LL.D., Dickinson, ‘93;
Prof. Econ., and Const. Law, N. Y. U., ’80-’93.

[Intro. to Sociology. ii, 30.]
Principles of Sociology. ii, 30.

NORTHWESTERN.
6 Graduate Students, 1897-8.

John H. Gray, Prof. of Political and Social Science.
A.B., Harv., ‘87; Ph.D., Halle, ‘92;
Instr. in Econ., Harv., ’87-9.

Administration. ii, 36.
[Finance.* ii, 36.]
Seminary.* ii, 36.

William Caldwell, Prof. of Moral and Social Philosophy.
A.M., Pass Degree, Edinburgh, ’84; A.M., and Honors of First Class, same, ’86;
Asst. Prof. of Philos., same, ’88-’90; Instr., Cornell, ’90-1; Instr., Chicago, ’92-4; Fellow, Edinburgh, ’86-’93, and Sc.D., ’93.

Seminary. Ethical Philos.* ii, 36.
Seminary. Sociology.* iii, 36.

PENNSYLVANIA.
12 Graduate Students, 1897-8.

Colwell Lib. of Pol. Econ., 7,000 vols. Carey Lib., valuable for economic history, including 3,000 Eng. pams. 1 Fel. $500 + tui; 1 Schol. in Hist. and Economics, $100 + tui.

Simon N. Patten, Prof. of Pol. Econ.
Ph.D., Halle.

Hist. of Pol. Econ. ii, 15, O.-F.
Recent Devel. of Pol. Econ. ii, 15, F.-My.
Relat. of Eng. Philos. to Econ. in 18^th Cent. ii, 15, O.-F.
[Scope and Method of Pol. Econ. ii, 15, F.-My.]
[Pract. Applications of Econ. Theory. ii, 12, O.-F.]
Problems of Sociol. ii, 15, F.-My.
Special Topics. ii, 30.

Henry R. Seager, Asst. Prof. of Pol. Econ.
Ph.B., Mich., ‘90; Ph.D.. Univ. of Pa., ’94;
Instr. in Pol. Econ., same, ’94-6.

Econ. Conference. ii, 30.
Adv. Reading in Ger. and Fr. Economics. ii, 30.
Eng. Indust. Hist. and Devel. of Econ. Theory, 1750-1870. ii, 15, F.-My.

Emory R. Johnson, Asst. Prof. of Transportation and Commerce.
B.L., Univ. of Wis., ‘88; M.L., same, ’91; Fel. in Econ., Univ. of Pa., ’92-3; Ph.D., same, ‘93;
Lect. on Transporta., same, ’93-4; Instr., same, ’94-6; Instr. in Econ., Haverford, ’93-6.

Theory of Transportation. i, 30.
[Am. Railway Transportation. ii, 30. ]
Transportation Systems of the United Kingdom and Germany. i, 30.
Hist. of Commerce since 1500. 1, 30.

Roland P. Falkner, Assoc. Prof. of Statistics.
Ph.B., Univ. of Pa.. ’85; Ph.D., Halle, ‘88;
Instr. in Statistics, ’88-’91.

Intro. to Statistics. ii, 15, O.-F.
Statistics of Econ. Problems. ii, 15, F.-My.
Hist. and Theory of Statistics. ii, 15, O.-F.
Statistical Organization. ii, 15, F.-My.

Samuel McC. Lindsay, Asst. Prof. of Sociol.
Ph.B., Univ. of Pa., ’89; Ph.D., Halle, ’92.

Theory of Sociol. (2 yr. course). ii, 30.
Social-Debtor Classes. ii, 30.
Sociol. Field Work. ii, 30.
Seminary. ii, 30.

PRINCETON.
5 Graduate Students, 1887-8.
1 Fellowship, $500.

Winthrop M. Daniels, Prof. of Pol. Econ.
A.B., Princeton, ’88, and A.M., ’90;
Instr. Wesleyan, ’91-2.

Public Finance.* ii, 18, S.-Ja.
Hist. of Pol. Econ.* ii, 18, F.-My.

W. A. Wyckoff, Lect. on Sociology.
A.B., Princeton, ’88, and A.M., ’91.

Sociology.* ii, 18, F.-My.

RADCLIFFE.
4 Graduate Students, 1897-8.
[See Harvard Courses marked “[R]”.]

Seminary in Econ. (With Prof. Taussig and Asst. Prof. Cummings.)

W. J. Ashley.

[Med. Econ. Hist. of Europe.* iii,30.]

Dr. Cunningham, Trinity Col., Cam. Eng.

Industrial Revolution in Eng. in 18^th and 19^th Cents.* iii, 15, F.-Jun.

G. S. Callender.

Econ. Hist. of U. S.*

Edward Cummings.

Princ. of Sociol.* iii, 30.

Edward Cummings and John Cummings.

Soc. and Econ. Conditions of Workingmen.* iii, 30.

John Cummings.

Statistics, Theory, Methods, Practice.*

(Of last three courses, two only will be given in 1898-9.)

F. Russell.

Gen. Anthropol.* —?

VANDERBILT.
2 Graduate Students, 1897-8.

Frederick W. Moore, Adj. Prof. of Hist. and Econ.
A.B., Yale, ’86, and Ph.D., ’90

Chas. F. Emerick, Asst. in Economics.
A.B., Wittenberg, ’89; Ph.M., Mich., ’95; Ph.D., Columbia, ’97.

Theory of Pol. Econ. Growth of Corporate Industry. iii, 32.
A Study of Socialism.* iii, 16.

WELLESLEY.
o Graduate Students, 1897-8.

Katharine Coman, Prof. of Hist. and Pol. Econ.
Ph.B., Mich., ’80.

Indust. Hist. of U. S.* iii, 17, F.-Jun.
[Indust. Hist. of Eng.* iii, 17, S.-Ja.]
Statistical Study of Problems in the U.S. iii, 17, S.-Ja.

Emily Greene Balch, Instr. in Economics.
A.B., Bryn Mawr.

Socialism.* iii, 17, F.-Jun.
Evolution and Present Conditions of Wage Labor.* iii, 17, S.-Ja.
Social Economics.* iii, 17, S.-Ja.; also F.-Jun.

WESTERN RESERVE.
4 Graduate Students, 1897-8.

S. F. Weston, Assoc. Prof. of Pol. and Soc. Sci.
A.B., Antioch, ’79, and A.M., ’85; Asst. in Economics, Columbia, ’92-4.

Social Theories.* iii, 17, F.-Jun.
Pauperism and Charities.* iii, 17, F.-Jun.
Money and Banking.* iii, 17, F.-Jun.
U.S. Tariff and Revenue System. iii, 17, F.-Jun.
Economic History of England.* iii, 16, S.-Ja.
Economic History of United States.* iii, 16, S.-Ja.
The State.* iii, 16, S.-Ja.
Civil Government.* iii, 16, S.-Ja.
Social Problems.* iii, 17, F.-Jun.
Economic Theories. iii, 36.

WISCONSIN.
24 Graduate Students, 1897-8.

Location at State capital gives special facilities for studying the State’s activities and methods of administration. Field work in charitable and correctional institutions in Madison and Chicago. Opportunity for continuous practical work during summer months.

Richard T. Ely, Prof. of Pol. Econ. and Director of the Sch. of Econ., Pol. Science and Hist.
A.B., Columbia, ’76; Ph.D., Heidelberg, ‘79; LL.D., Hobart, ’92;
Chair of Pol. Econ., Johns Hopkins, ’81-’92.

Distribution of Wealth. iii, 72, S.-Jun. (This course is to run through ’98- ’99, and ’99-1900.)
Public Finance. iii, 18, S.-F.
Taxation and Am. Public Finance. iii, 18, F.-Jun.
[Social Ethics. ii, 18, S.-F.]
[Socialism. ii, 18, S.-F.
Economic Seminary. Recent Devel. of Econ. Theory. ii, 36. (With Prof. Scott and Dr. Jones.)

William A. Scott, Prof. of Econ. Hist. and Theory.
A.B., Rochester, ‘86; Ph.D., Johns Hopkins, ’92.
Prof. Hist. and Pol. Econ., Univ. So. Dak., ’87-’90; Instr. in Hist., Johns Hopkins, ’91-2;

[Theories of Value. ii, 18, S.-F.]
Theories of Rent, Wages, Profits, and Interest. ii, 36, S.-F.
[Theories of Production and Consumption. ii, 18, F.-Jun.]
Classical Economists. iii, 18, F.-Jun.

Edward D. Jones, Instr. in Econ. and Statistics.
B.S., Ohio Wesleyan Univ., ’92; Halle and Berlin, ’93-4; Ph.D., Univ. of Wisconsin, ’95.

Economic Geography. ii, 18, S.-F.
Statistics. iii, 18, F.-Jun.
Charity and Crime. iii, 18, S.-F.

Balthasar H. Meyer, Instr. in Sociol. and Transportation.
B.L., Univ. of Wis., ’94; Berlin, ’94-5; Fel. Univ. of Wis., ’95-7; Ph.D., Univ. of Wis., ’97.

Elements of Sociology.* iii, 18, S.-F.
Psychological Sociologists.* ii, 18, S.-F.
Modern Sociological Thought. iii, 18, F.-Jun.
Transportation. ii, 18, F.-Jun.

Frank C. Sharp, Asst. Prof. of Philos.
A.B., Amherst, ’87; Ph.D., Berlin, ’92.

Social Ethics. ii, 18, F.-Jun.
Readings in Ger. Social Philos. ii, 18, S.-F.

YALE.
43 Graduate Students, 1897-8.

Pol. Science Club meets fortnightly. Club Room with Library for Graduate Students.

W. G. Sumner, Prof. of Pol. and Soc. Sci.
A.B., Yale, ’63; LL.D., Tenn., ’84.

Anthropology. ii, 32.
Systematic Societology. ii, 32.
[Indust. Rev. Renaissance Period. ii,32.]
[Begin. of Indust. Organization. ii,32.]
Science of Society.* (German.) ii, 32.

H. W. Farnam, Prof. of Pol. Econ.
A.B., Yale, ’74; R.P.D., Strassburg, ’78.

[Pauperism. ii, O.-D.]
Modern Organiza. of Labor. ii, 20, Ja.-Jun.]
Princs. Pub. Finance. ii, 32.

A. T. Hadley, Prof. of Pol. Econ.
A.B., Yale, 76, and A.M., ’87.

Econ. Problems of Corporations. i, 32.
Relat. between Econ. and Ethics. ii, 32.
Railroad Transportation.* ii, 32.

A. T. Hadley and Irving Fisher.

Economics (gen. course).* iii, 32.

W. F. Blackman, Prof. of Christian Ethics.
A.B., Oberlin, ’77; D.B., Yale, ’80; Ph.D., Cornell, ’93.

Social Science. ii, 32.
Lit. of Social. ii, 12, O.-D.
Soc. Study of Family. i, 12, O.-D.
Soc. Teach. and Influence of Christianity. i, 32.

J. C. Schwab, Asst. Prof. of Pol. Science.
A.B., Yale, ’86, and A.M., ’88; Ph. D., Göttingen, ’89.

Finance. ii, 32.
U.S. Indust. Hist. ii, 32.
U.S. Financial Hist. i, 32.
Finances of Confed. States, 1861-65. i, 32.

Irving Fisher, Asst. Prof. of Pol. Econ.
A.B. Yale, ’88, and Ph.D., ’91.

Principles of Economics (adv). ii, 32.
Statistics. ii, 20, Ja.-Jun.
Vital Statistics and Life Insurance. ii, 12, O.-D.

____________________

Source: Graduate Courses 1898-99: A Handbook for Graduate Students. (6^th edition). (Chicago, University of Chicago Press, 1899), pp. 80-90.

Tags AdamsHenryC, Ashley, Balch, Bullock, Callender, ClarkJB, Colby, Coman, Cooley, CummingsEdward, CummingsJohn, Daniels, Dunbar, Ely, Emerick, Falkner, Farnam, FisherIrving, Gardner, Giddings, Gray, Hadley, Hatfield, HicksFC, Hill, Hollander, Hull, Jenks, JohnsonEmory, JonesEdward, Laughlin, Mayo-Smith, McVey, MeyerHR, Miller, Moses, Patten, Plehn, Ripley, Ross, Schwab, Scott, Seager, Seligman, Sherwood, Small, Sumner, Taussig, TaylorFM, Veblen, Warner, Weston, Willcox

Chicago Courses

Chicago Economics. Courses of Instruction. 1900-01.

Post author By Irwin Collier
Post date 2015-06-18

General
Junior College Courses
Senior College and Graduate Courses
Seminars

Source: University of Chicago. Annual Register: July, 1899-July, 1900 with Announcements for 1900-1901. 1900.

[p. 165]

The Department of Political Economy
[University of Chicago]

COURSES OF INSTRUCTION.
Summer Quarter, 1900—Spring Quarter, 1901.
M=Minor course=a single course for six weeks. Mj=Major course=a single course for twelve weeks.

GENERAL.

The courses may be roughly classified into

Group I, Introductory: Courses 1,2,3,4.
Group II, Theoretical: Courses 10, 11, 12, 13, 14, 15, 16, 17, 18.
Group III, Practical: Courses 30, 31, 32, 34, 35, 36, 47, 39, 40, 41.
Group IV, Seminars: Courses 50, 51, 42, 53, 54, 55.

Students are advised to begin the study of economics not later than the ﬁrst year of their entrance into the Senior Colleges; and students of high standing, showing special aptitude for economic study, may properly take Course 1 in the last year of the Junior Colleges.

For admission to the courses of Groups II and III, a prerequisite is the satisfactory completion of Courses 1 and 2 or an equivalent. Those desiring only a general acquaintance with the subject are expected to take Course 2 during the second quarter. Course 1 is not open to students who do not intend to continue the work of 2.

After passing satisfactorily in Courses 1 and 2 the student will ﬁnd a division of the courses into three general groups : Group II will be concerned chieﬂy with a study of economic principles, their historical development, and the various systems of economic thought; Group III, while making use of principles and economic reasoning, will be devoted mainly to the collection of facts, the weighing of evidence, and an examination of questions bearing on the immediate welfare of our people. For a proper grasp of the subject Courses 10, 11, and 13 are indispensable; and in the second year of his study of economics the student should supplement a course in Group II by a course in Group III. Group IV provides for the oversight of special investigations, particularly those undertaken by candidates for the higher degrees.

Ability to treat economic questions properly can be acquired only if the student, being possessed of some natural aptitude for the study, devotes sufﬁcient time to it to enable him to assimilate the principles into his thinking, and to obtain certain habits of mind which are demanded for proﬁciency in this, as in any other important branch of study.

JUNIOR COLLEGE COURSES

and 2. Principles of Political Economy.—Exposition of the laws of Political Economy in its present state.

5 hrs. a week. MJ. Summer Quarter; 8:30.
Dr. Hatfield.

2 Mjs. Autumn and Winter Quarters; 8:30 and 9:30
Professor Laughlin and
Asssistant Professor Hill.
Repeated in Spring Quarter; 12:00.
Assistant Professor Hill

Course 1 in the Autumn Quarter is open only to students who express to their deans a bona ﬁde intention to elect 2 in the Winter Quarter.

Students should begin the study of Political Economy by taking Courses 1 and 2. Those desirous of laying the foundation for work in the advanced courses will take these two courses; those who, while giving their attention mainly to other departments, seek simply that general knowledge of economics demanded by a liberal education, and cannot devote more time to the study, will also take Courses 1 and 2. Courses 1 and 2 together are designed to give the students an acquaintance with the working principles of Political Economy.

The general drill in the principles cannot be completed in one quarter; and the department does not wish students to elect Course 1 who do not intend to continue the work in Course 2. Descriptive and practical subjects are introduced as the principles are discussed, and the ﬁeld is only half-covered in Course 1. Those who do not take both 1 and 2 are not prepared to take any advanced courses.

Courses 1 and 2 form the two Majors required of all Junior College students in the College of Commerce and Administration.

Economic and Social History.—Leading Events in the Economic History of Europe and America since the middle of the eighteenth century. Lectures and Reading.

Mi. Winter Quarter; 2:00
Professor Miller.

[p. 166] This course endeavors to present a comprehensive survey of the social, industrial, commercial and economic development of the Western world since the middle of the eighteenth century. After a preliminary study of the industrial revolution and the rise of the factory system, attention will be called to the economic and social effects of the American and French revolutions; the development of American commerce; to the introduction of steam transportation; to the adoption of free trade by England; to the new gold discoveries and their widespread effects; to the Civil War in the United States; to the French indemnity; to the crisis of 1873; and to the economic disturbances of the past twenty years. The course is conducted mainly by lectures, but a course of collateral reading will be prescribed upon which students will be expected to report from time to time.

No previous economic study is required of students entering this course, but it will be taken to best advantage by those who already have some knowledge of economic principles.

Descriptive Economics.—Lectures and Reports.

Mj. Summer Quarter; 12:00
Mj. Autumn Quarter; 12:00
Dr. Hatfield.

This is an elementary course requiring no previous study of Political Economy and describes the industrial structure of modern society. As it thus treats of the subject-matter with which economic theory deals, it may properly precede or supplement the course in Principles of Political Economy.

The purpose of the course is to familiarize the student with the actual forms in which economic activity of today manifests itself. The treatment will be concrete and practical rather than theoretical and will include the following subjects: Raw materials and their sources; the organization and methods of leading industries showing the effects of modern inventions; the development of markets; produce exchanges; trade routes; the distribution of commerce, etc.

In connection with this course the class will visit a number of the large industrial establishments situated in Chicago.

SENIOR COLLEGE AND GRADUATE COURSES.

History of Political Economy.—History of the Development of Economic Theories, embracing those of the Mercantilists and the Physiocrats, followed by a critical study of Adam Smith and his English and Continental Successors.—Lectures, Reading, and Reports.

Mj. Autumn Quarter, 11:00.
Assistant Professor Veblen.

This course treats of the theoretic development of Political Economy as a systematic body of doctrine; of the formation of economic conceptions and principles, policies, and systems. The subject will be treated so as to show the continuity and systematic character of Political Economy as the intelligent and scientiﬁc explanation of economic facts. Both the internal and the external aspects of the history of Political Economy will be studied, that is, the history of topics and doctrines and that of schools and leading writers. At the same time, any body of economic doctrine will always be explained and tested as the interpretation of a certain sphere of economic fact; and the student will thus be constantly drilled in economic analysis and in the sifting of economic proof, with the aim of making his hold on economic facts and problems at once exact and comprehensive. The questions that arise as to the interpretation of great writers and their systems will also form matter of discussion and study. Attention will be given, ﬁrst, to what is signiﬁcant for Political Economy in the early efforts of the moderns to solve economic problems. The commercial theories of the Mercantile System, the Physiocratic School, Adam Smith and his immediate predecessors, the English writers from Adam Smith to J. S. Mill, and the European and American writers of the nineteenth century will be studied. From the multiplicity of writers, selections will be made of those who have had great inﬂuence, or who have made marked contributions to Political Economy.

The student will be expected to read prescribed portions of the great authors bearing on cardinal principles, and to trace the relationship of the teaching of one author to that of another and of all authors in a scientiﬁc whole. It is hoped that in this way he will learn to see the consistency and relations of economic theories and to use the science as a whole, and not as a mere mass of arbitrary formula: or dicta. A special feature of the work will be a thorough study of Adam Smith and of Ricardo.

Scope and Method of Political Economy.—Origin and Development of the Historical School.—Lectures and Reports.

Mj. Winter Quarter; 11:00
Assistant Professor Veblen.

This course attempts to deﬁne the province, postulates, and character of Political Economy; to determine [p. 167] its method and to examine the nature of economic truth. The methods of proof and the processes of reasoning involved in the analysis of economic phenomena and the investigation of economic problems, and the position of Political Economy in the circle of the Moral Sciences—its relation to Ethics, Political Science. and Sociology—will be studied. In view of the controversies which have arisen on these fundamental topics, a critical estimate will be made of the views of leading writers on Methodology, such as Mill, Cairnes, Schmoller, Wagner, Menger, Sax, Keynes, and others. Seeing that the controversy about method arose in connection with the contentions of members of the Historical School of Political Economy in Germany, the opinions and writings of prominent representatives of that school will be studied.

Students will be required to prepare critical studies on books or subjects selected by the instructor.

Economic Theory.—Critical Discussion of Theories of Value. Lectures and Reports.

Mj. Summer Quarter; 9:30.
Mj. Autumn Quarter; 2:00.
Professor Miller.

An opportunity will be given to students who, having completed Courses 1 and 2, should have a further study of theory, both as a means of general training and as a prerequisite for advanced courses in constructive work in the ﬁeld of theory. Those who are especially interested in questions of value. socialism and the like, should take advantage of this course to strengthen their powers of reasoning on economic theory. Especial attention will be given to the discussion of value and such other controverted parts of economic theory as are not taken up in Course 13.

Unsettled Problems of Economic Theory.—Questions of Exchange and Distribution. Critical examination of selections from leading writers.

Mj. Spring Quarter; 12:00.
Professor Laughlin.

Little use will be made of text-books or lectures in this course, it being intended to take up certain topics in economic theory and to follow out their treatment by various writers. The more abstruse questions of exchange and distribution will be considered. No student, therefore, can undertake the work of this course with proﬁt who has not already become familiar with the fundamental principles. The course is open only to those who have passed satisfactorily in Courses 1 and 2, or who can clearly show that they have had an equivalent training.

The subjects to be considered in 1900-1901 will be as follows: The wages-fund and other theories of wages, the interest problem, managers’ proﬁts and allied topics. The discussion will be based upon selected passages of important writers. The study of wages, for example, will include reading from Adam Smith, Ricardo, J. S. Mill, Longe, Thornton, Cairnes, F. A. Walker, Marshall, George, Böhm-Bawerk and others. Students will also be expected to discuss recent important contributions to these subjects in current books or journals; and they will be practiced in the exposition of special points before their fellow students.

Social Economics. Attempts to Improve the Economic Condition of Workingmen.—Lectures and Reading, Practical Investigations and Reports.

Mj. Autumn Quarter; 8:30.
Dr. Hatfield.

The main purposes of the course are: (1) to discover the economic value of the various efforts that have been made and are being made to improve the condition of the workingmen, to learn why some succeed and others fail; and (2) to familiarize the students with the methods of such of these undertakings as have demonstrated their right to live, so that. if called upon, the students may themselves be able to take the lead in organizing similar undertakings.

In addition to the three great classes of cooperative effort in which workingmen take part, typiﬁed respectively by the trade union, the coöperative store and the proﬁt-sharing business, and including also such enterprises as associations of producers. building and loan associations, labor exchanges, fraternal insurance, etc., the course will embrace the consideration of the various miscellaneous efforts for the improvement of the laboring classes, such as the activities of the social settlement, the penny provident bank, manual training and industrial education.

As Chicago and its vicinity afford abundant material for the kinds of study called for by this course, each student will be expected to investigate and report on some particular undertaking.

Practical Economics. Relation of the State to Industrial Organization and Action—Detailed investigation of industrial combinations or [p. 168] trusts as a leading type in the existing industrial organization. Lectures, Reading and Reports.

Mj. Summer Quarter; 11:00.
Professor Miller.

The province of government in regard to industrial operations will be given especial attention; and there will be a treatment of such topics as immigration, factory legislation, insurance of the laboring classes by the state, and the relation of government to monopolies and corporations.

Socialism.—History of Socialistic Theories. Recent Socialistic Developments. Critical Review of Theoretical Writers, Programmes and Criticisms.—Lectures, Reading, and Reports.

Mj. Winter Quarter; 4:00
Assistant Professor Veblen.

The course is in part historical and descriptive, in part theoretical and critical. It comprises a review of the development of socialistic theory from the early years of the nineteenth century, and of modern socialistic movements down to the present. The theoretical writings of Marx, Rodbertus, and Lassalle will be taken up in detail; as also the criticisms offered by such writers as Schaeffle, Adler, and Spencer. Some attention will also be given to living popular writers, such as Gronlund, Bellamy, Bebel, Kautsky, and others. Practical work will be done with the platforms and programmes of socialistic organizations.

Attention will then be given to the alleged socialistic trend of development, to the economic factors in operation, and to the ethical aspect of the economic questions involved.

Students will be expected to make written reports and critical studies from time to time, in addition to selected reading. Those who have not carefully examined questions of value and distribution will be at a disadvantage in this course.

Economic Factors in Civilization. — A general study of some phases of present Industrial Conditions.—Lectures and Reports.

Mj. Spring Quarter; 11:00.
Assistant Professor Veblen.

The course is intended to present a structural account of the modern economic system by the study of its roots in the past. To this end it undertakes a survey of the cultural development as affected by economic motives and exigencies. The work will be largely one of research, in which the instructor will constantly direct the reading of the student.

Salient points in the history of mankind will be examined with the purpose of detecting the operation of economic causes and showing how these causes have acted to shape the growth of civilization and produce the existing industrial situation. With this in view, such phenomena as the Teutonic invasion of Europe, the Feudal system, the rise of commerce, the organization of trade and industry, the history of the condition of laborers, processes of production, and changes in consumption, will be treated.

Finance.—Public Expenditures. Theories and Methods of Taxation. Public Debts. Financial Administration.

Mj. Autumn Quarter; 3:00.
Professor Miller.

In this course it is intended to make a comprehensive survey of the whole ﬁeld of public ﬁnance. The course is primarily planned to meet the wants of those students who do not propose to extend their studies in ﬁnance beyond one course. It is, at the same time, intended to form an introduction to the seminary work in ﬁnance.

The treatment is both theoretical and practical, and the method of presentation historical as well as systematic. A brief review will be made of the growth and present state of the public expenditures of leading modern nations and the methods used for defraying them. Taxation, holding the place of ﬁrst importance among the resources of the modern state, will be the principal subject of the course. A critical estimate of the theories of leading writers will be made with a view to discovering a tenable basis of taxation. Principles are discussed, the various kinds of taxes examined, and their complementary functions in a system of taxes determined; and the practical success which has attended the methods employed in different countries will be investigated. This part of the course will be, therefore, very largely a comparative study of the tax systems of the principal modern states. In this connection special attention will be given to the problems of state and local taxation in America. All questions will be discussed from the twofold standpoint of justice and expediency.

The remaining parts of the course treat of the organization and methods of ﬁnancial administration, the formal control of public expenditures by means of the budget, the growth of public debts and their economic and social effects. The various problems involved in the management of public debts, such as methods of borrowing, conversion and reduction will [p. 169] be considered; and the methods practiced in our own and other countries will be described.

26. Oral Debates. — Selected Economic Topics. Briefs. Debates-Criticism.

3 hrs. a week; Mon., 3:00.
2Ms. Autumn and Winter Quarters.
Assistant Professors Hill
and Lovett.

The object of the course is to afford practice in the oral presentation of arguments. The work consists of the preparation of briefs, the delivery of ﬁfteen-minute speeches as principal disputant, and the delivery of ﬁve-minute speeches. Each student will appear as principal three times in the quarter. Course 26 is designed to be taken in connection with English 9, but may be elected separately by permission of the instructors.

28. Argumentation.—To be taken in connection with English 9.

3 hrs. a week; Wed.,3:00.
2Ms. Autumn and Winter Quarters.
Assistant Professor Lovett.

Railway Transportation. —History and Development of Railways. Theories of Rates. Combination. Investments. Speculative Management. State Ownership or Control. —Lectures, Reports, Discussions. and Reading.

Mj. Autumn Quarter; 9:30.
Assistant Professor Hill.

The economic, ﬁnancial and social inﬂuences arising from the growth of modern railway transportation, especially as concerns the United States, will be discussed. An account of the means of transportation developed in Europe and America during the early part of this century; the experiments of the states in constructing and operating canals and railways; national, state and municipal aid to private companies; the rapid and irregular extension of the United States railway system in recent years, with some attention to railway building in other countries, will form the historical part of the work. A discussion of various theories of rates; competition, combination, discrimination, investments, speculation, abuse of ﬁduciary powers; state legislation and commissions, and the Inter-State Commerce Act, with decisions under it; and the various relations of the state, the public, the investors, the managers and the employés, will form the most important part of the Work. This course gives a general view of the subject. Students who wish to continue the work by investigating special problems will have an opportunity to do so under Courses 31, 32, 51 and 52.

Comparative Railway Legislation. — Lectures, Reading, and Reports.

Mj. Winter Quarter; 8:30.
Assistant Professor Hill.

It is the aim of this course to give the student, who has already passed satisfactorily in Course 30, a study of the development and present nature of the railway systems of Great Britain. France, Germany, Austria-Hungary, Russia, Italy, Brazil, and Australia. From this comparative examination it will be learned what light the experience of other countries will throw upon our own railway problems.

Open only to those students who have taken Course 30.

Technique of Trade and Commerce.—Weights and measures; customs regulations; exchange and price quotations; commercial documents; foreign and domestic exchange; arbitrage; accounts; investment securities ; insurance, etc.

Mj. Spring Quarter.
Dr. Hatfield.

An attempt to familiarize the student with the actual forms and methods used in modern exchange. Especial attention will be given to the interpretation of railway and other corporation accounts, and to the use and construction of exchange and conversion tables, cambists, bond values, annuity tables, etc.

Industrial Development of the United States. Reading, Reports, and Lectures.

Mj. Winter Quarter.
Assistant Professor Hill.

A study is made of the distribution of population among the important industries at different periods of our development, and a comparison is made of the wages and proﬁts secured by the different groups. The effects of changing from extractive industries to manufactures are traced, and an attempt is made to test by our experience the view that manufactures are introduced in a new country only as extractive industries become less proﬁtable. The inﬂuence of legislation in shaping the industrial development of the nation is sought. The forces which determine the location and prosperity of industries are studied, with [p. 170] special attention to transportation facilities, and the effect upon our exports and imports of the changes in our industries will be dwelt upon.

Problems of American Agriculture.—Movements of Prices. Foreign Competition. Changing Conditions of Agriculture. Land Tenure—Lectures, Reading, and Reports.

Mj. Spring Quarter; 4:00.
Assistant Professor Veblen.

Special attention will be given to the extension and changes of the cultivated area of the United States; the methods of farming; the inﬂuence of railways and population, and of cheapened transportation ; the fall in values of Eastern farm-lands; movements of prices of agricultural products; European markets; competition of other countries; intensive farming; diminishing returns; farm mortgages; and the comparison of American with European systems of culture. Reports will be prepared by students on topics assigned.

Financial History of the United States.—Rapid Survey of the Financial Experiences of the Colonies and the Confederation. Detailed Study of the Course of American Legislation on Currency, Debts. and Banking since 1789.—Lectures and Reports.

Mj. Winter Quarter; 3:00.
Professor Miller.

Without excluding the history of taxation, this course concerns itself chieﬂy with the history of our national legislation on currency, loans and banking. The study will be based upon a careful examination at ﬁrst hand of the leading provisions of the Acts of Congress and other materials important in our ﬁnancial history. These will be reviewed from the political as well as from the ﬁnancial standpoints, it being one of the objects of the course to develop the relation between ﬁnance and politics in our history. Special attention will be given to Hamilton’s system of ﬁnance and the changes introduced by Gallatin, to the ﬁnancial policy of the War of 1812, to the establishment of the Second United States Bank and the struggles over its re-charter, to the crisis of 1837-1839 and the establishment of the independent Treasury, to the ﬁnancial problems and management of the Civil War; to the establishment of the national banking system, the refunding and reduction of the debt and the resumption of specie payments.

Money and Practical Economics. — Training in the Theoretical and Historical Investigation of Important Questions of the Day.—Lectures and Theses.

Mj. Autumn Quarter; 12:00.
Professor Laughlin.

Preliminary training for investigation is combined in this course with the acquisition of desirable statistical information on practical questions of the day. The student is instructed in the bibliography of the subject, taught how to collect his data, and expected to weigh carefully the evidence on both sides of a mooted question. The short theses form a connected series and give practice in written exposition as well as in the graphic representation of statistics. Mere compilation is objected to, and the student is urged to reach his conclusions independently and solely on the facts before him. Fresh and independent judgments are encouraged. The work of writing theses is so adjusted that it corresponds to the work of other courses counting for the same number of hours. The instructor criticises the theses before the class, and members of the class are called upon to lecture on the subjects of their theses and to answer questions from their fellow-students.

The subjects taken up will be chosen from the following: money, prices, bimetallism, note-issues, shipping, and commercial crises.

Banking.—Comparison of Modern Systems. Study of Principles—Lectures, Reports, and Discussion.

Mj. Spring Quarter; 9:30.
Assistant Professor Hill.

A comparison of the banking systems of the United States, England, France, Germany, Switzerland, and other countries will be made, with special attention to the manner in which each meets the problems of currency (coin, note, and deposit), reserves, discount, and exchange. The relations of the banks to the public, their inﬂuence on speculation, their management in ﬁnancial crises, special dangers, and most efﬁcient safe-guards will be discussed. Relative advantages and different ﬁelds of action for national banks, state banks, deposit and trust companies, and savings banks will be noted. A few lectures will be given on the history of banking.

Each student will present a thesis upon some subject connected with the course.

Statistics

M. Winter Quarter.
Mr. Worthington C. Ford.

The purpose of this course is to familiarize students with the use of statistics as an instrument of investi-[p. 171] gation and exposition in social, political, and economic science; to qualify them to judge of the value of results obtained by statistical methods ; and to enable them to use such methods themselves intelligently and with some degree of skill.

Together with the necessity for uniformity of method in systematic statistics and comparability of data, graphical methods and cartography, attention will be drawn to the technique of statistics. Demonstrations with actual statistical material being the most satisfactory method of statistical instruction, particular stress will be laid on this feature of the course. The course, therefore, will be practical and not historical or descriptive.

Commercial Statistics.

M. Winter Quarter.
Mr. Worthington C. Ford.

A statistical treatment of modern commercial questions. Contributions of a more advanced character than in Course 40 will be made to recent problems arising from the commercial development of the United States.

THE SEMINARS.

Under this head are placed the arrangements for Fellows, graduates, and suitably prepared persons, who wish to carry on special researches under the guidance of the instructors. Candidates for the higher degrees will ﬁnd in the seminar 8. means of regularly obtaining criticism and suggestion. It is hoped that each member of the seminar will steadily produce from time to time ﬁnished work suitable for publication. Emphasis will be placed on accurate and detailed work upon obscure or untouched points.

Students may carry on an independent study upon some special subject, making regular reports to the instructor; or several students may be grouped for the study of a series of connected subjects. But, in general, the work of the student engaged in investigations will receive direct personal supervision from the instructor, appointments being made with individual students.

Seminar in Finance.

Mj. Winter Quarter.
Professor Miller.

The Seminar is organized for such students as wish to undertake work of the investigative order in ﬁnance. Each student will be expected to present to the seminar a carefully prepared thesis embodying the results of independent research on some topic relating to the particular subject chosen by the members of the seminar‘ for joint investigation. Stated meetings will be held, at which questions will be proposed for discussion and lectures given by the instructor on the common work of the seminar. Separate meetings will also be arranged for with the individual members of the seminar, and the work of each student personally supervised.

Two seminars will be organized, each extending over two quarters, students being grouped according to the subject selected. For the year 1900-1901 the two following subjects are proposed :

Special Problems in Taxation: Comparative study of systems of local taxation.
Financial Administration: Comparative study of the budgetary systems of different countries.

and 52. Seminar in Railways.

2Mjs. Winter and Spring Quarters.
Assistant Professor Hill.

54. and 55. Economic Seminar

3Mjs. Autumn, Winter, and Spring Quarters.
Professor Laughlin.

Provision is here made for special investigation, either by groups of students or by individuals, on selected topics. Constructive work on theory, or studies on practical questions, will be guided by the instructor. Candidates for the higher degrees will receive personal attention.

Tags Ford, Hatfield, Hill, Laughlin, Miller, Veblen

4th-year class, March 1978

CASABLANK by Jeff Frankel*

Cast

AND GOD KNOWS WHY [played on piano by Samuelson]

First Year Economics Graduate Students, 1974-75 M.I.T. (Spring 1975)

ANALYSIS IN WONDERLAND

Composed and performed by the first-year economics graduate students at M.I.T. Second term, 1974-75

DRAMATIS PERSONAE

ACT I

ACT II

ACT III

ACT IV

The Harvard Graduates’ Magazine. Vol. 1, October, 1892, pp. 116-117.

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 576.

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 590.

The Harvard Graduates’ Magazine. Vol. 3, March, 1895, pp. 383-384.

The Harvard Graduates’ Magazine. Vol. 4, December, 1895, pp. 242-243.

The Harvard Graduates’ Magazine. Vol. 7, March, 1899, pp. 427-8.

The Harvard Graduates’ Magazine. Vol. 8, December, 1899, p. 223.

The Harvard Graduates’ Magazine. Vol. 10, December, 1901, pp. 261-2.

The Harvard Graduates’ Magazine. Vol. 11, December, 1902, pp. 247-248.

The Harvard Graduates’ Magazine. Vol. 11, June, 1903, pp. 560-562.

1902-3. STUDENTS IN ECONOMICS.

The Harvard Graduates’ Magazine. Vol. 12, December, 1903, p. 246.

The Harvard Graduates’ Magazine. Vol. 13, December, 1904, p. 278.

4^th-year class, March 1978

CASABLANK
by Jeff Frankel*

AND GOD KNOWS WHY
[played on piano by Samuelson]

First Year Economics Graduate Students, 1974-75
M.I.T. (Spring 1975)

Composed and performed by the first-year economics graduate students at M.I.T.
Second term, 1974-75