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Economics Programs M.I.T.

M.I.T. Minutes of the Visiting Committee of Department of Economics and Social Science, 1958

 

From a cover letter, dated March 25, 1959, written by R. T. Haslam, Chairman of the Visiting Committee for the Department of Economics and Social and Science at M.I.T., it appears that the mimeographed document  transcribed below was described as “the full transcript of the Meeting” sent by the Department of Economics for the report to be submitted by the visiting committee to the M.I.T. Corporation. At that time the department of economics and social studies included sections for economics, industrial relations, psychology, and political science together with a center for international studies. 

_______________________

DEPARTMENT OF ECONOMICS AND SOCIAL SCIENCE
Meeting of the Visiting Committee
October 7, 1958

Present: Visiting Committee

Robert T. Haslam, Chairman
Consultant and Director, W. R. Grace and Company

James A. Lyles
Senior Vice President, Frist Boston Corporation
Robert L. Moore
Chairman of the Board, Sheraton Corporation of America

Robert V. Roosa
Vice President, Federal Reserve Bank of New York

Willard L. Thorp
Professor, Merrill Center for Economics, Amherst College

Max L. Waterman
Vice President and Director, Singer Manufacturing Company

Clarence Wynd
Eastman Kodak Company

 

M.I.T.

John E. Burchard
Dean, School of Humanities and Social Studies

Robert L. Bishop
Professor of Economics; Head, Department of Economics and Social Science

Ralph E. Freeman
Professor of Economics; former Head, Department of Economics and Social Science

E. Cary Brown
Professor of Economics; in Charge of the Undergraduate Program

Roger W. Brown
Associate Professor of Psychology

Davis H. Howes
Assistant Professor of Psychology

Norman J. Padelford
Professor of Political Science; Director, Political Science Section

Ithiel deS. Pool
Professor of Political Science

Charles A. Myers
Professor of Industrial Relations; Director, Industrial Relations Section

Max F. Millikan
Professor of Economics; Director, Center for International Studies

Charles P. Kindleberger
Professor of Economics; in Charge of the Graduate Program

 

As the membership of the Committee is entirely new to the Department of Economics, Professor Bishop opened the meeting by giving a brief resume of its present organization and activities.

Teaching and research cover four main fields: Economics, Industrial Relations, Political Science, and Psychology. In one or more of these four fields, the Department teaches at least five distinguishable types of students: (1) undergraduates who elect one or more of the Department’s four fields as a part of their Humanities and Social Science program; (2) undergraduates who major in Course XIV, in (a) Economics or Political Science and (b) Science or Engineering; (3) graduate students in Course XIV, who are mostly Ph.D. candidates in either Industrial Economics or Political Science; (4) regular graduate students in the School of Industrial Management; and (5) members of the two Executive Development programs administered by the School of Industrial Management, including both Sloan Fellows (who are here for twelve months) and Senior Executives (who are here for ten weeks in either the Fall or Spring).

(1) Until the 1940’s, all juniors at the Institute took two terms of Economic Principles; and this was the substance of the Department’s contribution to the Humanities and Social Science program. Subsequently, we have added the fields of Industrial Relations, Political Science, and Psychology. As a result, the Department now offers four of the ten fields from which all students select their Humanities and Social Science subjects in their junior and senior years. (The attached Tables I and II [only a Table II was present in the departmental records. It is transcribed below] show total enrollments during 1956-57 and 1957-58 in the Department’s four fields and in the individual subjects within those fields. Most of the undergraduate enrollment represents students in the general Humanities and Social Science program). In 1957-58, as Table II shows, total undergraduate enrollments were: Economics 1206, Labor Relations 242, Political Science 378, and Psychology 519.)

(2) For eleven years the Department has had its own undergraduate major in Economics (Course XIV). At first this was just Economics and Engineering; later the option of Economics and Science was added. More recently there has been added an option in Political Science, which is an alternative to Economics but is also joined with Science or Engineering. In the future, Psychology might become a similar option; but Psychology is not now a major subject for undergraduates.

(3) The program for a Ph.D. degree in Economics, now one of the largest in this country, was in operation for some years before the Department had an undergraduate major in Economics. This year for the first time we are offering a program for a Ph.D. in Political Science. Our S.M. program is relatively small, and it is limited to Economics and Engineering (or Science). Unlike the Ph.D. program, it is open only to students who have studied Science or Engineering at the undergraduate level, as in our own undergraduate Course XIV.

(4) The Department offers several special subjects for the regular graduate students in the School of Industrial Management, who are all S.M. candidates. In addition, these students sometimes enroll in the same classes with our own graduate students in Economics; and, indeed, this has increased the size of some of our graduate subjects substantially during the past year or two. Furthermore, a small but increasing number of Industrial Management graduate students are becoming interested in going on to a Ph.D. in a combination of Economics and Industrial Management. Our colleagues in the School of Industrial Management have also been considering the addition of a Ph.D. program of their own. If this should materialize, it is likely that our Department will continue to participate substantially on the Economics side of such a program.

(5) The other teaching activity carried on in cooperation with the School of Industrial Management is in their two executive development programs. The older of these is the Sloan Fellowship program, for which executives in the 32- to 36- year age bracket spend a full calendar year at M.I.T. The other, shorter executive development program in which the Department teaches is aimed at a higher executive level. Our department handles about one-quarter of both of these programs.

Dean Burchard stated what he considers to be the present problems of the Department of Economics.

(1) To have the undergraduate program in Course XIV better known to secondary schools so that students will come to M.I.T. specifically for these combinations of humanities and sciences.

(2) To organize our offering in Psychology. A number of years ago a committee recommended that a Department of Psychology be established in the School of Science; but the latter was not prepared to take on such a department. Although there are courses in Psychology given in other Schools at M.I.T., the largest amount of teaching in Psychology comes under the School of Humanities. Therefore the development and improvement of the Psychology Section within the Department of Economics and Social Science is our responsibility.

(3) The new Political Science Section is fairly well organized; yet it still faces the problem of integration with the work of the Center for International Studies, particularly on research projects.

 

Undergraduate Program

Professor E. Cary Brown, chairman of the Committee on the Undergraduate Program, reported on his committee’s consideration of possible revisions in the curriculum in Course XIV. Normally the M.I.T. student can spend 80 per cent of his time in Science and Engineering, with the remaining 20 per cent in Humanities or Social Science. In Course XIV, the student spends the equivalent of a year in Economics or Political Science, instead of taking the more advanced or specialized subjects in his field of Science or Engineering.

After reviewing the experience of the past ten years on the Economics side—looking over thesis topics, the electives chosen by our majors, and finally the jobs that our graduates have held—it seems clear that we are dealing mostly with students who become engineers first of all, with social science skills on the side. For these students, we shall continue to offer our option in General Economics. We have also recommended, however, the addition of two other options in Economics. One will be in Industrial Economics, including Industrial Relations. The other will be in Quantitative Economics and Methods.

The program in Industrial Economics will be aimed at the range of problems confronting business firms on an industry-wide basis. We shall aim to turn out students in this option who will be industry analysts in the broadest sense.

The Quantitative Economics option will be even more professional in orientation. Emphasis will be on technical training in analytical methods, with primary attention to statistics, econometrics, and programming and decision theory, including “operations research,” for which there is a rapidly growing demand.

At present, too many of our basic Economics subjects are not taken until the senior year; so we have recommended changes that will allow our majors to take these subjects earlier. We have also recommended several new subjects, including a research seminar as thesis preparation in the first term of the senior year.

There followed a discussion of a variety of departmental problems. One concerns the fact that, in the Economics wing, we have relatively many young full professors, in their early forties, with relatively few associate and assistant professors. The demands of our graduate program and our undergraduate major are such that relatively few senior members of the staff participate at any one time in the elementary subjects, 14.01 and 14.02. There also was discussion of the assistance that can be given by the older members of the Department to graduate students who are carrying out their first teaching assignment in the sections of elementary Economics. As Mr. Haslam pointed out, these are the first instructors that the student meets in the Department of Economics, and a favorable impact is very important.

 

The Psychology Section (reported by Professors Roger W. Brown and Davis Howes)

At present Psychology teaching is limited to the Humanities program; but within the next year or two we hope to set up a Psychology option in Course XIV. The decision that we have to make with the administrative authorities is whether to be content with a purely routine service in teaching elementary Psychology or whether to have a Psychology Section composed of persons with significant research activities who will develop a broader teaching program.

There are other psychologists at the Institute in both the School of Industrial Management and in the new Communications Center. These people are concerned with a limited set of rather specialized applications of Psychology. Collaboration with these other psychologists would be very fruitful if a graduate program of training Ph.D.’s in Psychology could be set up, and some of them occasionally teach Psychology subjects in the Humanities program; but, for the time being, the responsibility for manning and administering that program rests wholly on the Psychology Section in our Department.

There is a remarkable opportunity at M.I.T. for collaboration between psychologists and other scientists—in computers, to name one example, and also in such fields as electronics and the chemical effects of drugs on human behavior. These potential opportunities will always draw able young research-oriented psychologists to M.I.T.; but they will not stay beyond about three years unless there is more chance for growth and development of the psychology program than at present. Now there is no senior member of the Psychology group; the four psychologists of faculty rank consist of one associate professor and three assistant professors. It was agreed that a constructive step would be the appointment of a full professor of psychology.

 

The Political Science Section (reported by Professors Norman J. Padelford and Ithiel de S. Pool)

Political Science has gone through some of the problems that Psychology is now facing. Immediately after the war we started out as a purely service group, offering as part of the Humanities program undergraduate courses which have averaged from 350 to 400 students. Three years ago we came to feel, as the psychologists do now, that a mere service function would not satisfy us professionally. As the first step to broaden our base we set up an undergraduate course combining Political Science with Science and Engineering. After this course was launched and operating satisfactorily, there were discussions about a Ph.D. program in Political Science. The same arguments that were used for Economics and for Psychology came up—namely, that the ablest men cannot be recruited and retained unless they have good graduate students around them. We have had to go to Harvard and to Fletcher School for young teachers in our undergraduate courses.

A program for a Ph.D. in Political Science was launched this Fall. We have 13 mature and talented graduate students whose interests are focused on policy problems. We put these students to work on research projects. This is possible with a small group only slightly outnumbered by staff; for each student can work as assistant to a staff member.

As far as our group is concerned, we see no point in simply duplicating what is done at other institution. Our range of interests covers the following major topics:

(1) We are concerned with the growth and evolution of political communities from an elementary stage to maturity, whether in such places as Burma or at the international level, where we have been studying the process by which a group of nations in the so-called Atlantic community can become knitted together.

(2) We have a strong interest in the role of communications in the political process between men and between groups in the political process. This is an important topic, which has been inadequately stressed elsewhere.

(3) The touchstone of our approach is a study of the place of government and the role of public policy against the background of changes in science and technology.

One final word about our needs as we look ahead. We have set up six fields of study: (1) International Relations and Foreign Policy, (2) Political Communications, (3) Defense Policy, (4) Government and Science, (5) Political and Economic Development, and (6) Political Theory and Comparative Politics. In the areas of Defense Policy and Government and Science, we are not provided with faculty as we should be. We need to find individuals for each of these fields and also the wherewithal to support them at the faculty level. Our second need—and the most urgent at the moment—is for fellowships and scholarships. We are encouraging our graduate students to take loans for their education, paying them back afterwards rather than depending on scholarship money.

 

The Industrial Relations Section (reported by Professor Charles A. Myers)

The Industrial Relations Section is the oldest of the sections in the Department of Economics. Last November we had a 20th Anniversary Conference in which we reviewed what we have been trying to do. Originally we set up our teaching program solely at the undergraduate level; but we have expanded to include participation in the doctoral program of the Department. Today M.I.T. has more students working for doctor’s degrees in Economics with emphasis on Industrial Relations than has any other university in this country. Our activities include courses for management, both in the programs of the School of Industrial management and in the new Greater Boston program for executive development. As we have no staff of our own but share our teachers with the Department of Economics, we confine our activities to certain areas such as the Scanlon Plan—a union-management cooperation plan, which has annual conferences attracting about 200 participants from all over the country. In addition, we have held conferences on research administration; some trade unions have come here for conferences under our auspices; and we hold each year a one-day workshop in connection with the Boston Chamber of Commerce.

Professor Pigors has pioneered in a method of management training and development called the incident process, which is now used by 800 companies. We think it offers more challenge to students than the case method. The case method presents a problem with all the material supplied; the incident process gives the student only an incident, leaving him to seek out the pertinent facts by questioning the discussion leader. As a teaching device it has had wide impact outside of M.I.T.

Some of our recent research has been on comparative international studies. As we learned more about economic development, we saw its close connection with problems of industrial relations. We obtained a Ford Foundation grant; and my two trips to India and a book have come out of that. We plan to cover India, Mexico, Japan, Western Germany, Indonesia, Sweden, England, France, and Italy in our studies of management in industrial societies.

 

The Center for International Studies (reported by Professor Max F. Millikan)

Although the CIS has a Visiting Committee of its own, its work is so closely connected with that of the Department of Economics and Social Science that they share each other’s problems. There are two ways in which the Center’s activities are important to the Department of Economics. First, there is a considerable overlap of staff members who conduct research in the Center and teach in the Department; so the Center and the Department have a joint interest in recruiting an outstanding and stable staff. Second, The Center’s research program provides opportunities for graduate students in the Department to undertake thesis work in the international field.

Briefly, the Center was founded in 1951, growing out of a contract which M.I.T. undertook on behalf of the State Department to explore a defense against jamming the Voice of America. Growing out of this study appeared the need for a research organization on problems related to American foreign relationships, as there are many ways in which technology and science have become involved in foreign policy and international relations. The Center then removed itself from government affiliation and became a permanent member of the M.I.T. family.

Since 1952, with the support of the Ford, Rockefeller, and Carnegie Funds, it has carried on projects in four different fields: (1) relations between the United States and the Soviet bloc, especially in the area of Soviet scientific publications and the administrative handling of research and development in the Soviet Union; (2) economic and political development of the underdeveloped countries—especially the process of economic growth in Indonesia, India and Southern Italy; (3) international communications—especially the pattern of information-flow in foreign countries and its effect upon attitudes and decisions of significant political groups; (4) Professor Rostow, who was responsible for the studies on the Soviet Union and on China which we have published, has now turned his attention to the features in American society which influence our attitude toward foreign policy.

Our principal problem for the future is to provide some stability for our research staff. We have drawn key people to M.I.T. who have made a substantial contribution through their research; but many members of our staff are listed as visiting professors because M.I.T. cannot provide tenure positions for them. What we need is a continuing corps to devote half time to research in the Center and the other half to teaching.

The Center is in a position to offer to graduate students research opportunities second to none in this country. In the future we look toward using the Center’s resources at the undergraduate level. In these new areas it is normal for development to begin at the graduate level and work down.

 

The Graduate Economics Program (reported by Professor Charles P. Kindleberger)

In the first place, our graduate program aims primarily at a Ph.D. degree; we do not offer a Master’s degree except in a combination of Economics with Science or Engineering (mostly as a fifth year for our own Course XIV graduates). In the Ph.D. program we limit ourselves to a small group of high-quality candidates—about 20 to 25 new students each year.

Admission of Graduate Students. These 20 to 25 new students are chosen from a group of about 120 applicants, who have various reasons for wanting to study at M.I.T. Some are attracted by the men on our teaching staff and some by the prestige of M.I.T. in general. We should also face the fact, however, that competitive fellowship offers also play a prominent role in applicants’ decisions to come here or go elsewhere. On the other side of the picture, some would-be applicants are scared away if they are not highly skilled in mathematics, even though only a minority of our graduate students specialize in areas of economics where high-powered mathematical techniques are used.

Financing Graduate Students. There are various ways in which a graduate student can pay his way here: he may get a fellowship from an outside source to be used at any university of his choice—National Science Foundation, Ford Foundation, and Woodrow Wilson Fellowship support comes this way; also, we have some privately endowed “name” fellowships in our department—Goodyear, Westinghouse, and Hicks; and we have some departmental and Institute funds to offer; lastly, a student may pay his own way. Sometimes students who do not qualify for financial assistance at first, but who come on their own, turn out to be very good. We hire no teachers from the group of first-year graduate students, so this source of earning is not open until at least the second year of graduate study, and usually not until the third.

Ph.D. Curriculum. At the end of the second year, the graduate student takes his general examinations—four written and four oral. After this comes his thesis. We are very much interested in the process of writing a thesis, as we believe that it is here that the student acquires professional maturity. We do not go along with the movement to cut down on the time of the Ph.D. degree by reducing the thesis to the proportions of an article.

Post-Doctoral Students. More and more M.I.T. is attracting post-doctoral scholars from abroad—last year a Swede, a Norwegian, a Dutchman, and a Turk; this year two Germans, a Swede, an Italian, a Belgian and a Frenchman. These people add to the scholarly atmosphere; and we need mature students for training at a post-doctoral level. This, however, requires more money; and we have already applied to the Ford Foundation for funds for this purpose.

*  *  *  *  *  *

            In the general discussion of pressing problems Professor Bishop mentioned the following:

The Economics Library Budget. The state of our Dewey Library budget can be held over for discussion at the next meeting of this committee. If we have not been successful in our drive for funds, we shall need to ask the assistance of the committee.

Ours is very much of a library department, as we have no laboratory. Although our library budget is high compared with that of some engineering departments, it is low compared with that of other leading departments in Economics. For example, our library budget stands at $4,000 annually, compared with $6,000 for that of Johns Hopkins. Ours is possibly the best industrial relations library in the country; but it is a second-class economics library. I should like to see the budget figure raised by $2,000.

(Mr. Maslam offered to approach Mr. Bradley Dewy for a donation for this purpose.)

Age Distribution of Department Members. It happens that our department has an unusual age distribution in the field of Economics. There is a great gap between the full professors and the instructors. The former are all in their early forties; and there are few runners-up at the associate professor and assistant professor level. This is a problem of major importance.

*  *  *  *  *  *

            Professor Thorp suggested this kind of Committee report to the Corporation: that the Committee has met; that all its members are new; that they therefore need time to get acquainted with what is going on in the Department; that they find no problems requiring immediate action; and that they are looking forward to a meeting next year. There was also agreement in recommending that there be somewhat more continuity of membership on the Visiting Committee than in the past.

*  *  *  *  *  *

TABLE II
Comparative Numbers of Students Completing Individual Subjects in the Department of Economics and Social Science, 1956-57 and 1957-58
[Note: Course titles provided after Table II]

1956-57

1957-58
Subject Fall Spring Total Fall Spring Total

Net Change

Economics—Undergraduate

14.01

466 292 758 460 316 776 +18
14.02 58 117 175 94 143 237

+62

14.03

26 26 26 18 44 +18
14.04 14 14 8 8

-6

14.09

27 28 55 25 19 44 -11
14.20 23 23

-23

14.30

25 25 -25
14.32 20 20 17 17

-3

14.33

18 18 16 21 37 +19
14.40 20 20 20 20

14.43

11 11 13 13 +2
14.54 11 11 10 10

-1

Totals

1156 1206

+50

 

 

1956-57

1957-58
Subject Fall Spring Total Fall Spring Total

Net Change

Economics—Graduate

14.101

11 11 14 14 +3
14.102 5 5 8 8

+3

14.115

34 34 36 36 +2
14.116 34 34 36 36

+2

14.117

18 24 42 15 20 35 -7
14.121 32 32 31 31

-1

14.122

30 30 31 31 +1
14.132 6 6

-6

14.151

6 6 11 11 +5
14.161 15 15 15 15

14.162

12 12 16 16 +4
14.171 11 11 8 8

-3

14.172

6 6 9 9 +3
14.174 5 5 14 14

+9

14.192

5 5 1 1 -4
14.195 10 10 1 1

-9

14.196

11 11 5 5 -6
14.271 11 11 7 7

-4

14.272

7 7 7 7
14.281 13 13 15 15

+2

14.282

18 18 +18
14.292 7 7 10 10

+3

14.371

34 34 35 35 +1
14.372 15 15 16 16

+1

14.381

56 56 27 27 -29
14.382 1 1

+1

14.451

23 23 24 24 +1
14.461 8 8 8 8

14.471

15 15 12 12 -3
14.481 9 9 6 6

-3

14.581

20 20 23 23 +3
14.582 16 16 17 17

+3

Totals

509

497

-12

Totals—Economics

1665

1703

+38

 

*  *  *  *  *  *

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Industrial Relations—Undergraduate
14.61 12 12 -12
14.63 86 75 161 80 75 155 -6
14.64 47 75 122 36 51 87 -35
Totals 295 242 -53

 

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Industrial Relations—Graduate
14.671 6 6 7      7 +1
14.672 10 10 -10
14.673 18 18 +18
14.674 10 10 +10
14.681 17 17 18 18 +1
14.682 19 19 10 10 -9
14.694 16      16 +16
Totals 52 79 +27
Totals—Industrial Relations 347 321 -26

 

*  *  *  *  *  *

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Political Science—Undergraduate
14.51 50 93 143 73 72 145 +2
14.52 29 25 54 31 25 56 +2
14.53 7 7 25 25 +18
14.90 17 13 30 14 11 25 -5
14.91 25 36 61 26 23 49 -12
14.92 18 18 42 42 +24
14.93 7 11 18 26 26 +8
14.95 22 22 -22
14.96 14 14 14
14.97 6 6 3 3 -3
14.98 3 3 +3
14.99 4 4 +4
Totals 373 378 +5

 

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Political Science—Graduate
14.521 6 6 -6
14.523 4 4 +4
14.524 2 2 +2
14.531 15 15 3 3 -12
14.533 18 18 12 12 -6
14.571 34 34 36 36 +2
14.941 8 8 +8
14.953 10 10 7 7 -3
14.954 1 1 5 5 +4
14.956 5 5 8 8 +3
14.957 6 6 7 7 +1
14.958 6 6 +6
Totals 95 98 +3
Totals—Political Science 468 476 +8

 

*  *  *  *  *  *

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Psychology—Undergraduate
14.70 112 175 287 83 126 209 -78
14.73 83 73 156 32 35 67 -89
14.77 47 47 27 16 43 -4
14.79 42 42 8 29 37 -5
14.81 14 14 9 9 -5
14.82 11 43 54 +54
14.84 35 35 +35
14.85 32 32 +32
14.86 18 32 50 +30
14.88 3 3 +3
Totals 546 519 -27

 

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Psychology—Graduate
14.771 32 32 -32
14.772 6 6 +6
14.774 12 12 5 5 -7
14.791 5 5 8 8 +3
14.792 11 11 2 2 -9
Totals 60 21 -39
Totals—Psychology 606 540 -66

 

1956-57 1957-58
Subject Fall Spring Total Fall Spring Total Net Change
Grand Totals for the Department 3086 3040 -46

Source: M.I.T. Archives. MIT Department of Economics Records, Box 4, Folder “V.C. [19]47-64”.

________________________

Course numbers, names and instructors
1957-58*

ECONOMICS (UNDERGRADUATE)
14.01 Economic Principles I (Bishop)
14.02 Economic Principles II (E. C. Brown)
14.03 Prices and Production (A. Williams)
14.04 Industrial Organization and Public Policy
14.09 Economic Problems Seminar (Bishop)
14.20 Building Economics (Maclaurin)
14.30 Elementary Statistics (Ando)
14.32 Statistical Quality Control (H. A. Freeman)
14.33 Elementary Statistics (Ando)
14.40 Money and Income (R.E. Freeman)
14.43 Public Finance (E.C. Brown)
14.54 International Trade (Kindleberger)
ECONOMICS (GRADUATE)
14.101 Mathematics for Economists (H. A. Freeman)
14.102 Mathematics for Economists (H. A. Freeman)
14.115 Economics and Finance: Principles and Policies II (Kindleberger, R.E. Freeman)
14.116 Economics and Finance: Principles and Policies III (Kindleberger)
14.117 Economics and Industrial Management (Solow, E.C. Brown)
14.121 Economic Analysis (Bishop)
14.122 Economic Analysis (Samuelson)
14.132 Schools of Economic Thought (Bishop)
14.151 Mathematical Approach to Economics (Samuelson)
14.161 Economic History (W. W. Rostow)
14.162 Economic History (W. W. Rostow)
14.171 Theory of Economic Growth (Rosenstein-Rodan)
14.172 Research Seminar in Economic Development (Millikan)
14.174 Non-Economic Factors in Economic Growth (Hagen)
14.192 Economics Seminar
14.195 Reading Seminar in Economics
14.196 Reading Seminar in Economics
14.271 Problems n Industrial Economics (Bishop)
14.272 Government Regulation of Industry (N.N.)
14.281 Entrepreneurship, Innovation and Economic Development (Maclaurin)
14.282 Economics of Innovation Seminar (Maclaurin)
14.292 Industrial Economic Seminar
14.371 Statistical Theory (H. A. Freeman)
14.372 Statistical Theory (H. A. Freeman)
14.381 Statistical Method (Houthakker, Durand)
14.382 Economic Statistics (Houthakker)
14.451 National Income (Millikan)
14.461 Monetary and Banking Problems (Higgins)
14.471 Fiscal Policy? (E. C. Brown)
14.481 Business Cycles (Houthakker)
14.581 International Economics (Kindleberger)
14.582 International Economics (Kindleberger)
INDUSTRIAL RELATIONS (UNDERGRADUATE)
14.61 Industrial Relations (D. V. Brown)
14.63 Labor Relations (Siegel)
14.64 Labor Economics and Public Policy (A. R. Weber)
INDUSTRIAL RELATIONS (GRADUATE)
14.671 Problems in Labor Economics (Miernyk)
14.672 Public Policy on Labor Relations (Myers)
14.673 Labor-Management Relations and Public Policy (D. V. Brown, Myers)
14.674 The Labor Movement: Theories and Histories (Siegel)
14.681 Seminar in Personnel Administration (Pigors)
14.682 Seminar in Personnel Administration (Pigors)
14.694 Seminar in Union-Management Cooperation (N.N.)
POLITICAL SCIENCE (UNDERGRADUATE)
14.51 International Relations (Padelford)
14.52 Principles and Problems of American Diplomacy (Pye)
14.53 Seminar in International Politics (Schilling)
14.90 Government, Politics and Technology (R. C. Wood)
14.91 The American Political System (Tillman)
14.92 Comparative Political and Economic Systems (L. W. Martin)
14.93 Seminar: Issues in Contemporary American Politics
14.95 Politics, Society, and Policy Making (Pool)
14.96 Influences on Policy Decisions (N.N.)
14.97 Political Science Seminar (Padelford)
14.98 Political Science Seminar (Padelford)
14.99 International Political Communication (Davison)
POLITICAL SCIENCE (GRADUATE)
14.521 Strategic and Political Geography (N.N.)
14.523 National Security and Military Technology (McCormack, Schilling)
14.524 Politics and National Defense Policy (Schilling)
14.531 Asian Politics and United States Foreign Policy (Pye)
14.533 Social Science and U. S. Foreign Policy (Millikan)
14.571 Major Problems in Untied States Foreign Policy (Padelford)
14.941 Government and Public Administration (R. C. Wood)
14.953 Mass Media and Communication Systems (Lerner)
14.954 Methods of Communication Research (Lerner)
14.956 Public Opinion and Propaganda (Davison)
14.957 Research Seminar in International Communications (Davison)
14.958 Research Seminar in International Communications (Davison)
PSYCHOLOGY (UNDERGRADUATE)
14.70 Introductory Psychology (Swets)
14.73 Organization and Communication in Groups (Swets, Gleicher)
14.77 Psychology of Language and Communication (N.N.)
14.79 Learning (Howes)
14.81 Psychology of Perception (Swets in 1958-59)
14.82 Psychology of Motivation (N.N. in 1958-59)
14.84 Theories of Personality (R. W. Brown in 1958-59)
14.85 Social Psychology (R. W. Brown in 1958-59)
14.86 Behavior in Groups (M. E. Shaw in 1958-59)
14.88 Advanced Psychology Seminar (Staff in 1958-59)
PSYCHOLOGY (GRADUATE)
14.771 Interpersonal Relations Seminar (N.N.)
14.772 Industrial Sociology Seminar (N.N.)
14.774 Social Psychology Seminar (R. W. Brown)
14.791 Reading Seminar in Social Science
14.792 Reading Seminar in Social Science

 

SourceThe Massachusetts Institute of Technology Bulletin, General Catalogue Issue 1957-58. Chapter 10, Descriptions of Subjects, 14. Economics and Social Science, pp. 233-238.

*For 14.81/14.82/14.84/14.85/14.86/14.88 information from the General Catalogue Issue 1958-59 pp. 237-8.

Image Source:  From Technique (1949), M.I.T. Yearbook cover.

Categories
Funny Business M.I.T.

M.I.T. Economics Christmas skit with basketball theme, 1961

 

Spoiler alert: you are about to encounter one of the least funny economics skits in the history of the genre, so this artifact is regrettably low on entertainment value.  Still the six acts have a certain seven-acts-of-man structure: Act I (the department recruits), Act II ( advising the first-year student), Act III (graduate student complaints), Act IV (choosing guest speakers), Act V (general examinations), Act VI (job market). 

After reading the skit, you might need a palate cleansing or better: for that purpose here are a few links to the key word “Funny Business” at Economics in the Rear-view Mirror that take you to some of the greatest hits of economics skits.

____________________

ANOTHER TWO POINTS FOR THE FACULTY,
ANOTHER FOUL ON THE STUDENTS

A Christmas Drama (with suggestions for a cast), December 15, 1961

ACT I

(The curtain rises on a scene of [Edgar Cary] Brown, [Franklin Marvin] Fisher, [Charles Poor] Kindleberger and [Abraham J.] Siegel seated around a table reading applications.

SIEGEL: Here’s a guy who may be OK…No…the place is no good. A cow college. They average only 50 points a game.

BROWN:  Here’s a good one.

FISHER: What’s his record?

BROWN: Pretty darn good. Worth at least tuition plus $500. Maybe $750.

FISHER: What’s his record?

BROWN: Pretty darn good. He’s from Podunk. And they’re pretty good. He was the best they had.

FISHER: How did he score, for crying out loud?

BROWN: He’s six-feet-five, weighs 195 pounds, and fast; he averaged 23.7 points a game. He has a great set shot, never misses from the foul line, and superb off the backboard. He’s just what we need in Graduate Economics at M.I.T.

 

ACT II

(An office: Siegel is advising a student.)

SIEGEL: For the first year I would take pretty standard fare: theory, history, statistics, finance, and international, plus of course the workshop. There’s no use trying to take too much. Pace yourself.

STUDENT (perhaps [Stephen Herbert] Hymer?): I don’t have much math. Why do I need to take statistics?

SIEGEL: Ando is very good. He doesn’t always make things completely clear, but you have to take statistics if you want to be able to handle averages, to work out the point per game and point per shot records; and you need probability to help compute odds on all the league games. Statistics is a must.

STUDENT: Why the history, finance and international?

SIEGEL: International is important. You ought to know how to schedule the Harlem Globetrotters, and who has the best chance in the Olympics. One of our best graduates played on the Oxford team against Poland and Czechoslovakia. That was Chuck Cooper, and it got him a job as Walter Heller’s assistant at the Council. Finance is important. When the gamblers start bribing players you need to know how to invest the funds. And history is vital. On the general exams they always ask who was James Naismith, the man who invented basketball. That’s for every student. The good students they ask when it was invented…of course 1891. And the very best students they ask where…past, Springfield, Mass. Remember, it’s not Springfield, Illinois. That’s Abe Lincoln.

STUDENT: OK. But tell me about the last one.

SIEGEL: Theory isn’t much. [Paul Anthony] Samuelson teaches about how to make inputs for two points, and when to dribble.

STUDENT: Samuelson teaches drivel?

 

ACT III

(A group of students, griping.)

STUDENT 1 (Francis Michel Bator?): This place is no good. It’s theory, theory, theory all the way. Anyone knows that the way to win at basketball is to practice. Practice makes perfect. Theory makes perfect fools. All you do is study and take exams. “Who was James Naismith? Who was Adam Yea-Smith? When do you chop down the tree?” Bah! I say we ought to study policy. With a two-point lead and three minutes to go, should you freeze the ball or plop in an input for an output of two points?

STUDENT 2 ([Paul Narcyz] Rosenstein-Rodan?): They tell me [Robert Merton] Solow has been converted from theory to policy. He is no longer interested in questions like whether the best set shot is an inverted rectangular parabola, but real issues, like the queuing problem: how many substitutes does a team need to field five men for an hour, with one personal foul every six minutes and four personal fouls per man disqualifying. If you have too many players on the bench you get unemployment. The team needs growth. Maybe you ought to add a man and play six.

STUDENT 3 ([Robert] Evans?): What’s bad is to have to play far away from the Sloan building. Those workshops on top on Walker and over in the Armory are OK, but they are too far away. We need the Ford Foundation to give us a workshop right here.

STUDENT 1: Haven’t you heard? The talk is that the new building to go up in the back lot is a library. But as I see its dimensions unfold- 90 feet by 50 – and transparent backboards and netting and grandstands, I can’t believe it’s a library. It must be a basketball court.

 

ACT IV

(A meeting of the G.E.A.)

RALPH BULL (played by [Robert Lyle] Bishop?): Do any of you fellows have suggestions for speakers besides Cousy, Russell, Jungle Jim Lusketoff, and that 6.8 outstanding economist, [John Kenneth] Galbraith, who can stand with his head coming up through the basket?

STUDENT B: What about Milton Friedman? He is under the five feet which some say is the minimum allowable in a monetary theorist, but he sure is good at the far-fetched shot.

STUDENT B: Why not get Clifford Odets?

RALPH BULL: Clifford Odets? Why him?

STUDENT B: Don’t you remember the famous line in “Awake and Sing”? “My brother Sam joined the Navy. He don’t know from nothin’, that dumb basketball player.” I want to know whether the emphasis is “that dumb basketball player” or “the [sic] dumb basketball player”. Are there any smart basketball players?

 

ACT V

KINDLEBERGER: As chairman of this exam, let me tell you that you have the right to pick the order of your exam. Do you want to start with Theory, or Statistics?

STUDENT (Samuelson?): I think I’ll start by jumping against Fisher, your professorship, sir. Ando’s the smaller, so I’ll take him last when I’m tired.

KINDLEBERGER: All right. (Student and Fisher face each other. Kindleberger blows whistle and throws imaginary ball. Cheers of amazement from faculty.)

FISHER: Very well. I have decided to let you combine Theory and Economic History.

STUDENT: Hey, Ref, your Ph.D.ship, sir, I’m not responsible for History. Isn’t that a foul?

KINDLEBERGER: I didn’t see nuthin’.

FISHER: Consider the population explosion of the last 150 years. Discuss the relative roles of (a) men and (b) women in this affair.

ANDO [Albert Keinosuke] : Good shot. That’s two points for our side.

STUDENT: I don’t know that, your cap-and-gownship, sir, but I know the roles are neither reflexive, symmetric, or transitive.

KINDLEBERGER: (blows whistle) Foul. You used big words in a generals. That’s only permitted the faculty.

FISHER: I’ll give Albert my free throw.

ANDO: (taking the foul shot) Please discuss the role of the nearly decomposable take-off in the application of a priori oligopoly theory to the A&P case.

STUDENT: Hey! You guys are ganging up on me.

ANDO: Well, you outnumber us in class.

STUDENT: (driving hard for basket) It can be set up as a nine-dimensional matrix problem and the latent roots dispensed with. I think the take-off is fine if done along the turnpike, watching out for model changes in passing cars.

ANDO: Fantastic! (Faculty huddle.)

KINDLEBERGER: That was a good answer. We’ve decided to give you an Excellent minus for being a good scorer, but to ask you to leave the Institute for fouling out on personals.

KINDLEBERGER, ANDO, FISHER: Rah, team!

 

ACT VI

DOMAR [Evsey David]: Well, you have the degree wrapped up, and now want a job. Not bad. You got a good grade on the orals, and would have gotten a top grade if you hadn’t thought that Stilt Chamberlain played for the Celtics and failed to distinguish Slippery Sam Jones from Casey Jones. Your thesis was entirely satisfactory, on a good topic: How to Get to the Boston Garden from Madison Square Garden: An Application of the Turnpike Theorem. And you even did languages: basketball communication in the Ivy League, or basketball with a broad A. Now the job. What do you think? Big Ten? Ivy League? Small liberal arts? Girls’ rules like Wellesley or Vassar? Or maybe the real big time: Kentucky, Long Island University, St. Joseph’s in Brooklyn, Notre Dame. L.I.U. is to economics like M.I.T. was to economics.

STUDENT (perhaps [Max Franklin] Millikan?): I don’t now if I’m ready for the Big Time.

DOMAR: What about applying some of your basketballmetrics for the government? They need our graduates. Or for an oil company. Maybe you would like to take a ball and a whistle and go abroad, demonstrating technical assistance to underdeveloped countries. There are jobs like that.

STUDENT: No. I guess I’m fussy. What I’d like is just what all the gang would like, to stay here at Cambridge with Harvard and the Celtics, and to referee like you and [Robert Lyle] Bishop and Samuelson, always blowing off your whistle and shouting foul, going first class to conferences, and shouting foul, foul, foul at the students.

 

Source:  M.I.T. Archives. MIT Department of Economics records, Box 2, Folder “GEA 1961-67”.

Image Source:  Boston Celtics players Tom Heinsohn, Bill Russell, Bob Cousy, Bill Sharman and Frank Ramsey in 1960. “Twelve of the greatest Celtics players of all time”  from Boston.com website (March 18, 2018)

 

Categories
Economics Programs Fields M.I.T.

M.I.T. Graduate Economics Program Brochure, 1961

 

 

 

Robert Solow served as the graduate registration officer of the Department of Economics and Social Science at M.I.T. perhaps even as late as when the graduate program brochure (transcribed below) was printed in 1961. Since Solow went down to Washington to serve as a senior staff economist on the Council of Economic Advisers in 1961, it seems likely that the brochure would have been drafted sometime before John F. Kennedy’s inauguration. This brochure is striking in many ways, e.g. its 100% informational content, presumably reflecting significant authorship/editor responsibilities of Robert Solow.

Five cherry-picked quotes from the brochure I found particularly sweet:

“The M.I.T. program does not concentrate on mathematical economics”
[It’s not what you say, it’s what they hear.]

“The department welcomes applications from qualified women”
[Apparently in the DNA of the department since World War II nearly emptied the pool of qualified male applicants.]

“The purpose of the minor program is to broaden the interests or capacities of the student in other areas than those of his major intellectual objective. While some latitude is allowed in particular cases, the spirit of this purpose is always held in view.”
[As opposed to the commandment “Thou shalt stay in thy lane”.]

“Students who are prepared for graduate work in economics are almost never deficient in humanities. Similarly, deficiencies in science are infrequent; but candidates are frequently admitted without preparation in calculus.”
[You go to war with the army you have.]

“In judging promise, special weight is naturally given to letters of recommendation from economists known to members of the department. The difficulty of evaluating records in foreign institutions and of judging foreign references constitutes a serious but no impassable barrier for foreign applicants.”
[Signal extraction problem vs. the problem of old boy networks]

Incidentally, neither “microeconomics” nor “macroeconomics” appear in the document at all. The preferred terms seen here in the brochure are “price and allocation theory” and “income analysis”.

____________________________________

The Graduate Program in Economics

School of Humanities and Social Science
Massachusetts Institute of Technology
[1961]

This brochure has been prepared especially for students who may enter the graduate program in economics at M.I.T. Its purpose is to answer a number of questions which have been recurrently raised about the program and to add to the information which is given in the M.I.T. catalogue.

 

Highlights of the M.I.T. Graduate Program in Economics

  1. The program is almost entirely for doctoral candidates. The master’s degree at M.I.T. is given in either economics and engineering or economics and science; it requires the equivalent of the M.I.T. undergraduate content in engineering or science.
  2. The M.I.T. program does not concentrate on mathematical economics. All students are required to have and use a minimum of mathematics. Students who enter without calculus may make up their deficiency in the first term with a one-semester subject (Mathematics for Economists—14.101), given in our own department. Most of the work in most fields, however, is nonmathematical.
  3. The program is limited in size. Approximately twenty-five students are admitted in any year; sixty or so students are in residence at one time. The department has more than thirty faculty members, twenty of whom have a major responsibility in the graduate program.
  4. The department welcomes applications from qualified women.
  5. All applicants are urged to take the Graduate Record Examination no later than during the January preceding the September in which they wish to enter. They should take the quantitative and verbal aptitude tests as well as the test in economics (Write to the Graduate Record Examinations, educational Testing service, 20 Nassau Street, Princeton, New Jersey, for information on these examinations. Students in western states should write to 4640 Hollywood Boulevard, Los Angeles 27, California.)
  6. Visits to the M.I.T. Campus are helpful both to the candidate and to the departmental admissions committee. Appointments are desirable but are not generally essential, since members of the committee are likely to be available.
  7. The department would like each applicant to submit a statement (one or two pages) explaining his interest in economics. An informal questionnaire is provided for general guidance.
  8. Admission in February is granted only on an exceptional basis, because many subjects given in the spring are continuations of work given in the fall. In any event, fellowship assistance is given only as a consequence of the annual March competition, for students entering in the following September.
  9. Fellowships and scholarships in amounts up to $3250 are available for entering graduate students.
  10. Winners of outside fellowships are welcome to use them at M.I.T. It is entirely appropriate to apply for a Woodrow Wilson, G.E., A.A.U.W., National Science Foundation, or other outside fellowship at the same time that one applies to M.I.T. As a rule, M.I.T. learns of the outside award prior to making its own announcements.
  11. Liberal second-year fellowships are available both to students entering with fellowships and to those who enter without financial assistance. Awards are made on the basis of first-year performance.
  12. Teaching assistantships are ordinarily available for third-year students only, although some second-year students may do a small amount of teaching. Assistantships are not available to entering students unless they have had prior graduate study and teaching experience elsewhere.
  13. I.T. these are written in residence. Following an Institute rule, theses are prepared in residence except where the special requirements of the subject, such as field work, dictate otherwise. All theses are written in residence.
  14. For further information, write the Graduate Registration Office of the Department of Economic and Social Science, Professor Robert M. Solow.

 

S.M. in Economics and Engineering or Economics and Science

The department offers a Master of Science degree only in the combined fields of economics and engineering or economics and science. This degree is available primarily to students whose undergraduate work was in either engineering or science. Its purpose is to enable scientists and engineers, and in particular graduates of the undergraduate Courses in Economics and Engineering or Science (Course XIV) at M.I.T., to carry their economics training to the graduate level in order to equip them more fully for work in industry or government.

 

Ph.D. Degree

Ph.D. degrees are awarded in economics (including industrial relations) and in political science. In addition, candidates occasionally work for a doctorate in two or more fields—for example, economics and mathematics, economics and operations research, or economics and regional planning. These candidates are examined by special committees, on which members of the Department of Economics and Social Science serve jointly with members of the other departments concerned. Most of the graduate work in the department is directed towards the doctor’s degree. This pamphlet deals exclusively with the Ph.D. in economics; a separate bulletin describing graduate work in political science is available on request.

There are four departmental requirements for the Ph.D. degree: the passing of a general examination in a number of approved fields within the area of economics and social science; the satisfactory completion of a “minor” program in another department; demonstration of ability to read two foreign languages of significance in economics; and preparation and defense of a dissertation.

 

Major Program and General Examinations

Work taken in the Department of Economics and Social Science for the doctorate in economics is divided—broadly speaking—into two separate options: economics and industrial relations. But there is considerable overlap between the two.

All students in both options are examined five fields. Among the fields presently available are the following: economic theory, advanced economic theory, monetary and fiscal economics, industrial organization, economic development, international economics, economics of innovation, labor economics and labor relations, personnel administration, human relations in industry, statistical theory and method, and economic history. Each student selects one field as having primary importance for this professional career; ordinarily this is the field in which he writes his dissertation, though exceptions may be made. The remaining four fields are designated secondary fields. One of the five fields must be economic theory.

Students are also required to have at least a minimum knowledge of statistics and economic history. This minimum is presently interpreted to mean one semester of work in each at the graduate level. Candidates who present statistics or economic history as a primary or secondary field normally take two or three semester subjects in the field and automatically satisfy the requirements in that area.

Students may qualify in one of the secondary fields through course work only, provided that they receive a mark of B or better in two subjects. Students are examined in writing in the remaining four fields during an eight-day period (Monday, Wednesday, Friday, and Monday). The theory examination is four hours long (divided roughly between microeconomics and macroeconomics), while the other three are each three hours long.

Following these written examinations, the student takes a two-hour oral examination which covers theory, his primary field, and one secondary field.

 

Foreign Languages

Doctoral candidates must show reading knowledge of two foreign languages; the standard set is the ability to read works of scientific interest at a relatively slow pace. Acceptable languages are German, French, Russian, or any other language which has a literature in economics or which will advance the educational program planned by the individual student. Students are examined by the Department of Modern Languages.

Students whose language preparation has been limited may take subjects which prepare specifically for the language examinations. Students with no previous training in a language frequently are able to attain the necessary minimum proficiency during a single semester of fairly intensive study. Others, who have already had some introduction to a language, often pass the requirement at some time before the end of the semester.

 

Minor Program

Every candidate for the doctor’s degree at M.I.T. must complete a program in a minor field in another department of the Institute. This program consists of a minimum of 24 units, which ordinarily implies three one-semester subjects. The choice of the minor field is made by the student, with the approval of the Department of Economics and Social Science. The content of the program within the other department is a matter for that department’s determination. Satisfactory completion of a minor is ordinarily contingent upon an average rating of 3.5 (in effect, a minimum of two B’s and a C). The normal standard is that the minor work shall be beyond the level required of M.I.T. undergraduates. Students who have done advanced undergraduate work in some field other than economics may often use it to meet part of the minor requirement.

Students in economics have met the minor requirement in such fields as mathematics, industrial management, history, international relations, other social sciences, literature, city planning, chemistry, and electrical engineering. Subjects taken in the minor program must not duplicate work which may be offered for one of the five fields in economics. A minor program in history may include only one term of economic history, since two terms would qualify the student to offer it as a field in economics. Similarly, students minoring in industrial management may not concentrate in such areas as personnel administration. The purpose of the minor program is to broaden the interests or capacities of the student in other areas than those of his major intellectual objective. While some latitude is allowed in particular cases, the spirit of this purpose is always held in view.

 

Courses at Harvard

Students regularly enrolled at M.I.T. are permitted to take a limited number of subjects at Harvard University—about two miles distant in Cambridge—on an exchange basis, without paying extra tuition. Such subjects may be taken as a part of the minor program. Fields for the major program other than those described above may sometimes be offered on the basis of work at Harvard.

 

Residence Requirements

The minimum residence requirement for the Ph.D. degree, including thesis, is the equivalent of one and one-half full-time academic years. No specific number of subjects is required for the general examinations. In general, however, it is recommended that students have at least the equivalent of three semesters of work at the graduate level for the primary field; four semesters in economic theory; and two semesters in each of the other fields. Work on the graduate level at other institutions is considered in meeting these broad approximations of the requisite preparation. Since there are no formal course requirements, there is no occasion to have graduate credits from other schools transferred.

A full-time student is expect to take the equivalent of five subjects each semester for credit; this may include one “reading subject,” in which the student will broaden his reading in his regular subjects. A half-time student is permitted to take approximately three subjects, and a third-time student two subjects. Auditing of additional subjects is permitted as an overload.

 

Dissertation and Special Examination

The Institute requires that all dissertations be prepared in residence, during which period tuition must be paid. Field work may be necessary to gather material; but the analysis of this material must take place at the Institute, under supervision of the instructor in charge of the dissertation. In some cases the writing of the final, polished version of the thesis may be completed elsewhere.

As in other institutions, the dissertation is expected to make a contribution to knowledge in the subject. Shortly after each candidate has submitted his thesis, he is examined on its subject. This examination is oral, conducted by a committee generally consisting of three faculty members, and usually is one hour in length.

 

Total Program of Course Work

The typical student comes to the Institute directly from college with no previous graduate study, having a deficiency in one subject and the ability to pass the reading examination in one language. He can usually prepare for the general examinations in four semesters (two academic years) taking five subjects in each, divided as follows:

 

In the Department of Economics Economic theory—four subjects
One primary field—three subjects
Three secondary fields—six subjects
Statistics—one subject
In other departments Deficiency—one subject
Language—one subject
Minor—three subjects
Total: Twenty subjects
[sic, total of the above is nineteen]

This program is only illustrative, of course, and a wide number of variations are to be expected. Additional work may be required because of additional deficiencies or lack of language preparation. The number of subjects may be reduced by absence of deficiencies, by better preparation in languages, by postponing one or more requirements (such as a part of the minor) until after the general examinations, or by incorporating economic history and/or statistics as primary or secondary fields.

 

Time Required for the Ph.D. Degree

A student entering the program with only a bachelor’s degree may expect to receive the Ph.D. degree in three years under optimum conditions. This will entail taking the general examination in May of the second year and completing a satisfactory dissertation in two semesters of full-time work thereafter. Normally, however, somewhat more time is needed, either in summer work or in some part of a fourth year. Students may need this additional time for more extensive preparation before the general examination, for the thesis, or (in the ordinary case) because teaching duties prevent full-time progress as a student. Many students who plan to enter the teaching profession take advantage of the opportunity to teach part-time at M.I.T. Teaching assistantships are available for students who have passed their general examinations, and occasionally for second-year students.

General examinations are given in the department at the beginning of each semester—in September and February—an again in May. Defense of the dissertation is arranged individually at any time.

Students enrolling in the Ph.D. program with a master’s degree from another institution, based on one or more years of residence at that institution, are urged to take their general examinations earlier than May of their second year at M.I.T. It is not usual, however, for a student to be able to transfer between institutions without some loss of time.

 

Summer School

The department does not offer any subjects at the graduate level during the summer session. However, students may enroll during the summer for thesis credits, for which tuition must be paid. Scholarships are only rarely available for payment of summer school tuition.

 

Admission

To be admitted into the program, a student must hold a bachelor’s degree from an accredited college or university. To be admitted without deficiencies, he must have taken one year of college mathematics, including at least one semester of calculus; one year of college science; and a minimum of three years of college work in the humanities and social sciences. While an undergraduate degree in economics is not indispensable, students are expected to have done a considerable amount of undergraduate work in this field. Students who are prepared for graduate work in economics are almost never deficient in humanities. Similarly, deficiencies in science are infrequent; but candidates are frequently admitted without preparation in calculus.

 

Special Students

Special students, taking from one to five subjects, may be admitted to the Institute and to the department from time to time under special circumstances. Admission of special students automatically lapses each semester; application for re-admission, in the case of students wishing to continue course work, must have the approval of the instructor concerned and the department.

 

Deficiencies

Students who, upon admission, are deficient in mathematics may make up this deficiency by taking a special one-semester subject offered by the Department of Economics—Mathematics for economists (14.101.) Since calculus is required for some of the work in economic theory and statistics, students entering with a deficiency in this area are required to make it up as soon as possible. Though this is not specifically recommended, some students may be able to make up a deficiency in calculus by studying at a summer school prior to fall enrollment at the Institute.

 

Fellowships, Scholarships, and Financial Assistance

Fellowships and scholarships are awarded on a competitive basis only. First-year awards are made on April 1 for the academic year beginning in the following September. Second-year and subsequent departmental awards are made in June. No academic assistance is available for students applying after April 1, or (until the following September) for those entering in February.

Fellowships cover the tuition fee of $1500 and some cash payment toward living expenses. A fellowship of $3200 will thus include $1500 tuition and $1700 cash. The cash award is paid in two equal installments, at the beginning of each semester.

The total of fellowship assistance varies from year to year. There are several name fellowships: the Goodyear, varying from $3000 to $3500; the United States Steel, at about $3100 for each of two years (awarded every other year); the RAND Corporation Fellowship in Mathematical Economics, varying from $3000 to $3500; the Hicks, for students of industrial relations, ranging from $2000 to $3000; and the Center for International Studies Fellowship in Economic Development, ranging from $3000 to $3500; In addition to these, the Institute awards Whitney Fellowships ($3000 in 1961), open only to first-year graduate students coming from outside M.I.T., upon recommendation of the department; and the department has limited funds with which it makes scholarship and fellowship awards varying from $1500 to $3000.

In offering scholarships and fellowships, the department takes into account a variety of factors; academic achievement, career promise, and need. In judging promise, special weight is naturally given to letters of recommendation from economists known to members of the department. The difficulty of evaluating records in foreign institutions and of judging foreign references constitutes a serious but no impassable barrier for foreign applicants.

In general, outside fellowships are financially better than all but a few of the department’s awards. Applicants are therefore urged to seek Woodrow Wilson, Danforth, National Science Foundation, and similar fellowships for use at M.I.T., if they think they stand a good chance of success in the national competition.

Students who perform effectively in their first year are assured of financial support needed to finish the degree. Part of this takes the form of fellowships, in amounts somewhat lower than first-year awards; the rest consists of teaching and research assistantships and instructorships. The half-time teaching assistantship covers the half-time tuition fee of $1000 and pays $180 a month for nine months—a total of $2620. The half-time instructorship, which is reserved for students who have demonstrated effective teaching as an assistant, pays the same tuition and $235 monthly–$3115 for the academic year. The few research assistants appointed each year receive a higher rate of pay than teaching assistants but pay their own tuition. They have the advantage, however, of working on a subject related to their thesis. The department is occasionally able to obtain assistantships for applicants in other parts of the Institute, such as the School of Industrial Management or the Operations Research Group.

Third-year students are also encouraged to compete for outside assistance in supporting their thesis research, such as the Ford Foundation Doctoral Dissertation Awards, the Social Science Research Council Fellowships, and Fulbright Awards.

 

The Faculty in Economics and Industrial Relations

Morris A. Adelman, Professor of Economics
Ph.D. Harvard 1948
Industrial organization, government regulation

Albert K. Ando, Assistant Professor of Economics
Ph.D. Carnegie Institute of Technology 1959
Statistics and econometrics, economic fluctuations

Francis M. Bator, Associate Professor of Economics
Ph.D. M.I.T. 1956
Price and allocation theory, income analysis, economic growth

Robert L. Bishop, Professor of Economics, in charge of the department
Ph.D. Harvard 1949
Price and distribution theory, industrial organization, history of economic thought

E. Cary Brown, Professor of Economics
Ph.D. Harvard 1948
Public finance, income analysis, fiscal economics

Evsey D. Domar, Professor of Economics
Ph.D. Harvard 1947
Income analysis, economic growth, Soviet economics, fiscal economics

Robert Evans, Jr., Assistant Professor of Industrial Relations
Ph.D. Chicago 1959
Labor economics, industrial relations

Franklin M. Fisher, Assistant Professor of Economics
Ph.D. Harvard 1960
Econometrics, price and allocation theory

Harold A. Freeman, Professor of Statistics
S.B. M.I.T. 1931
Statistical theory, experimental design probability methods

Ralph E. Freeman, Professor of Economics, Emeritus; Lecturer
A.M. McMaster 1914, B. Litt. Oxford 1919
Monetary economics

Everett E. Hagen, Professor of Economics
Ph.D. Wisconsin 1941
Economic development, income analysis

Ralph C. James, Jr., Assistant Professor of Insutrial Relations
Ph.D. Cornell 1957
Labor economics, industrial relations

Charles P. Kindleberger, Professor of Economics
Ph.D. Columbia 1937
International economics, monetary theory and policy

Edwin Kuh, Associate Professor of Economics
Ph.D. Harvard 1955
Econometrics, income analysis

Max F. Millikan, Professor of Economics
Ph.D. Yale 1941
Economic development, income analysis

Charles A. Myers, Professor of Industrial Relations
Ph.D. Chicago 1939
Labor economics, industrial relations

Paul Pigors, Professor of Industrial Relations
Ph.D. Harvard 1927
Personnel administration, industrial relations

Paul N. Rosenstein-Rodan, Professor of Economics
Dr.Rer.Pol. Vienna 1925
Economic development

Walt W. Rostow, Professor of Economic History
Ph.D. Yale 1940
Economic history, economic growth

Paul A. Samuelson, Professor of Economics
Ph.D. Harvard 1941
Price and allocation theory, income analysis, monetary theory and policy

Abraham J. Siegel, Associate Professor of Industrial Relations
M.A. Columbia 1949
Labor economics, industrial relations

Robert M. Solow, Professor of Economics
Ph.D. Harvard 1951
Price and allocation theory, income analysis, econometrics

 

Graduate Subjects

Price and allocation theory

14.121, 122 Economic Analysis
14.123 Advanced Economic Theory
14.132 Schools of Economic Thought
14.151 Mathematical Approach to Economics

 

Income analysis

14.451 Theory of Income and Employment
14.452 Economic Growth and Fluctuations

 

Economic history and economic development

14.161,162 Economic History
14.171 Theory of Economic Growth
14.172 Research Seminar in Economic Development
14.182 Capitalism, Socialism, and Growth

 

Economics of industry

14.271 Problems in Industrial Economics
14.272 Government Regulation of Industry

 

Statistics and econometrics

14.371,372 Statistical Theory
14.374 Design and Analysis of Scientific Experiments
14.381 Statistical Method
14.382 Economic Statistics
14.391 Research Seminar in Economics
15.032 Sampling of Human Populations1

 

Monetary and fiscal economics

14.461,462 Monetary Economics
14.471 Fiscal Economics
14.472 Seminar in Fiscal and Monetary Policy

 

International economics

14.581,582 International Economics
14.584 Seminar in International Economic Theory

 

Industrial relations

14.671 Problems in Labor Economics
14.672 Public Policy on Labor Relations
14.674 The Labor Movement: Theories and Histories
14.681,14.682 Seminar in Personnel Administration
14.691,692 Research Seminar in Industrial Relations
14.693 Collective Bargaining and Union-Management Cooperation
14.694 Seminar in Union-Management Cooperation

1School of Industrial Management

 

[Production Credits]

Editorial service by the M.I.T. Office of Publications. Design by Brigitte Hanf. Typesetting by the Lew A. Cummings Company, Inc., Manchester, New Hampshire, and The Composing Room, Inc., New York. Production by the Lew A. Cummings Company, Inc. January, 1961.

 

Source: MIT Archives, Department of Economics Records, Box 2, Folder “Department Brochures”.

Image Source: MIT beaver mascot, Tim,  from Technology Review in 1914.

Categories
Economists M.I.T. Regulations

MIT. Graduate Economics Program and Fellowships. 1950-51

Already by the academic year 1950-51 the M.I.T. economics department could boast seven economics professors who would still be around over a quarter of a century later, including Samuelson, Solow and Kindleberger. The printed departmental brochure along with a one-page announcement of twelve graduate fellowships, presumably sent to be posted on college and university bulletin boards, have been transcribed for this posting. Minor changes in formatting have been used to enhance readability.

 _________________________

 

Graduate Work in the Department of Economics and Social Science
Massachusetts Institute of Technology

 

THE PROGRAM

 

Our program in Economics is confined to students for the doctorate who are primarily interested in advanced study and research in

Economic Theory
Industrial Economics
Industrial Relations
International Economics
Statistics

We have an active program of continuing research in each of these fields and should like to invite a selected group of graduate students to participate with us in our explorations after they have completed their requirements for the general examinations here.

The work in Economic Theory is under the leadership of Professor Paul A. Samuelson. This includes, in addition to price analysis, the study of national income determination and business cycles. Research in these fields has been vigorous in recent years, and our objective is to train economists capable of understanding and appraising the results of this research and of adding to our empirical and theoretical understanding of these areas.

Industrial Economics, under the guidance of Professors W. Rupert Maclaurin and Max Millikan, is concerned primarily with the economic problems of the individual firm and of particular industries. The work should be enriched by the active research program now under way in the Department on “the economics of innovation,” “the process of business decisions,” and “the economics of the size of the firm.” We are anxious to have some advanced students who would like to participate in these research programs which are being worked out through “laboratory-type” collaboration of particular firms and industries.

Industrial Relations, under the leadership of Professors Charles A. Myers and Douglass V. Brown, is concerned with investigating the fundamentals of labor-management relations in modern industrial society. In addition to basic work in Economics, the program of study centers upon courses in Labor Economics, Collective Bargaining, Public Policy in Labor Relations, Personnel Administration, Social Psychology and Human Relations. A number of research projects are carried on by the Industrial Relations Section, which is a division of the Department.

Our work in International Economics is under the direction of Professors Charles P. Kindleberger and Richard M. Bissell, Jr. (who returns in June to M.I.T. from his position as Deputy Administrator of ECA). Emphasis in International economics is shared between the traditional fields of international trade and finance and that of national economic development. The training is designed to qualify the student for work in departments of government, including international institution., concerned with foreign and international economic problems. While no specialized courses are offered in the practical aspects of foreign trade, it is believed that the broad training will be regarded with increasing interest by American business concerns to aid them in the solution of their complex problems relating to foreign operations.

Instruction in Statistics, under Professor Harold Freeman, is largely centered in three areas: general theoretical statistics; probability and its foundations; modern theories of time series and prediction, particularly as applied in Economics. Some of the courses in these areas are given by the Departments of Economics and some by the Department of Mathematics. Courses are offered at elementary, intermediate, advanced and research seminar levels.

While there is ample opportunity at M.I.T. for the student interested in any one of these five fields to go as far as he wishes with his subject, there is also a common core of basic courses which the student will be expected to take in preparation for his general examinations.

We are also attempting to introduce greater realism into our program by operating a “practice school” in the summer between the first and second years of graduate study, in which we try to arrange internship experience in industry. This activity is under the guidance of Professor Paul Pigors.

For those who are going into university teaching, some pre-doctoral teaching experience will be encouraged and a considerable number of teaching fellowships will be available to students after they have completed their first year.

 

FINANCIAL ASSISTANCE TO GRADUATE STUDENTS

For the year 1950-51 we will offer up to five fellowships of $2,500, available to outstanding students in the fields mentioned above. These include the Westinghouse Educational Fellowship and the Goodyear Tire and Rubber Fellowship.

In addition, about eight fellowships and teaching scholarships will be available, ranging up to $1,600. This group includes the Clarence J. Hicks Memorial Fellowship in Industrial Relations, given by Industrial Relations Counselors, Inc., of New York.

 

REQUIREMENTS FOR ADMISSION

(a) General requirements: S.B. or A.B. degree with a good academic record from a university of recognized standing. Special emphasis will be placed on recommendations from professors or administrative officers of the college. Only students with high qualifications will be admitted.

(b) Course requirements: Three full-year college courses in social science chosen from the fields of Economics, Psychology, Sociology and History. One full-year course in college mathematics (including at least a half-year of calculus) and a full-year course in college physics are required. However, students who have had no Physics can make up this deficiency by taking a special one-semester course at the Institute. In special cases a deficiency in calculus may also be satisfied in this manner.

At the end of the second year the candidate will normally take a general examination chosen from such fields as the following: Economic Theory, Industrial economics, Economics of Innovation, Labor Economics and Labor Relations, Human Relations, Personnel administration Statistical Methods and Theory, Economic Fluctuations and Fiscal Policy, and International Economics.

Following the Institute rules the candidate for the doctor’s degree will be required to take a minor in a related filed. Possibilities include: Business Administration, History, Regional Planning, Mathematics, or any of the technical fields of specialization at the Institute in which the student is qualified to participate. Exchange arrangements between M.I.T. and Harvard University also make it possible for graduate students at either institution to take advance work at the other without extra tuition.

In addition, the candidate for the Ph.D. degree must meet the usual language and thesis requirements.

 

FURTHER INFORMATION

Those persons who are interested in learning more about the program or who wish to obtain application blanks for fellowships to aid in financing such graduate work may direct inquiries to Professor Robert L. Bishop, Department of Economics and Social Science, Massachusetts Institute of Technology, Cambridge, Massachusetts.

 

INSTRUCTING STAFF
DEPARTMENT OF ECONOMICS AND SOCIAL SCIENCE

Ralph Evans Freeman, M. A., B. Litt.
Professor of Economics; in charge of the Department

Donald Skeele Tucker, Ph.D.
Professor of Economics

William Rupert Maclaurin, D.C.S.
Professor of Economics

Norman Judson Padelford, Ph.D., LL.D.
Professor of International Relations

Paul Anthony Samuelson, Ph.D.
Professor of Economics

Richard Mervin Bissell, Jr., Ph.D.
Professor of Economics

Charles Andrew Myers, Ph.D.
Professor of Industrial Relations

Paul Pigors, Ph.D.
Associate Professor of Industrial Relations

Harold Adolph Freeman, S.B.
Associate Professor of Statistics

Charles Poor Kindleberger, Ph.D.
Associate Professor of Economics

Max Franklin Millikan, Ph.D.
Associate Professor of Economics

Alex Bavelas, Ph.D.
Associate Professor of Psychology

Robert Lyle Bishop, Ph.D.
Assistant Professor of Economics

Edgar Cary Brown, Ph.D.
Assistant Professor of Economics

Morris Albert Adelman, Ph.D.
Assistant Professor of Economics

George Pratt Shultz, Ph.D.
Assistant Professor of Industrial Relations

Robert Solow, M.A.
Assistant Professor of Statistics

Lecturer

Joseph Norbert Scanlon

Instructors

John Royston Coleman, M.A.
Stanley Martin Jacks, A.B., LL.B.
James Earnest Boyce, A.M.
Louis Cass Young, S.M.
John Lang Rawlinson, A.M.
Gilbert Koreb Krulee, S.B., M.Ed.
Roy Olton, M.A.
Herman Thomas Skofield, M.A.
Jesse Harris Proctor, Jr., M.A.

Research Associates

Robert Keen Lamb, Ph.D.
Kingman Brewster, Jr., LL.B.
Peter Robert Hofstaetter, Ph.D.

Research Assistants

William Theodore Bluhm, M.A.
Sidney Layton Smith, S.M.

Teaching Fellows

Hugh Gilbert Lovell, B.A.
Jack Dean Rogers, B.S., M.B.A.

Assistants

Ralph Haskel Bergmann, A.B.
Kenneth Alden Bohr, S.M.
Daniel Monroe Colyer, B.A.
Harold Emil Dreyer, B.S.
David Allen Eberly, S.B.
Herman Gadon, A.B.
Stuart Lee Knowlton, A.B.
Walter Sparks Measday, A.B.
Beatrice Allen Rogers, A.B., S.B.
George Joseph Strauss, B.A.

Librarian

Barbara Klingenhagen, A.B.

 _________________________

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
Department of Economics and Social Science

Graduate Fellowship
1950 – 1951

 

In the year 1950-1951 M.I.T. will offer:

Up to five fellowships of $2,500 for students in the following fields:

Economic Theory
Industrial Economics
Industrial Relations
International Economics
Statistics

Up to seven fellowships with stipends up to $1,600 for specialization in these same fields.

Fellowships are available to students who wish to undertake a program of graduate work in Economics leading to the degree of doctor of philosophy. Applicants should have an A.B. or S. B. degree or anticipate the award of such a degree not later than July 1, 1950. Fellowships are awarded for one year, with possibility of renewal. They include the Westinghouse Educational Fellowship , the Goodyear Tire and Rubber Fellowship and the Clarence J. Hicks Memorial Fellowship in Industrial Relations, given by the Industrial Relations Counselors, Inc., of New York.

Fellowships are offered to those who seek career opportunities in university teaching and research, in industrial concerns in this country or abroad, in research departments of unions, and in government agencies concerned with the regulation of industry.

The Institute’s close contacts with industry, and the development within the Department of Economics and Social Science of specialized work in economic theory, the economics of innovation, industrial relations, statistics, and international economics have created a suitable environment for advanced study and research in these particular fields.

Teaching fellowships are also available; but these are normally reserved for second and third-year students.

Requests for further information or for application blanks should be addressed to Professor Robert L. Bishop, Department of Economics and Social Science, Massachusetts Institute of Technology, Cambridge, Massachusetts. Applications should be filed by March 15, 1950.

 _________________________

Source: MIT Archives. Office of the President. Records, 1930-1959. Box 77 (AC4/77), Folder 10: Economics Department 1934-49.

Image Source: MIT, Technique, 1949.