Tag: Siegel

M.I.T. Graduate Program in Economics Brochure, 1974-1975

Post author By Irwin Collier
Post date 2024-08-06

It was fifty years ago this September that I entered the graduate program in economics at M.I.T. This is why the brochure outlining the graduate program as of the academic year 1974-75 is something I am particularly delighted to add as the newest digitized artifact to Economics in the Rear-view Mirror.

In other news, I just realized that I am now older than everyone seen on the faculty portrait taken in 1976.

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Most of the faculty members of the MIT department of economics on the steps of the Sloan Building (E52) in 1976.

Names of the assembled have been provided in an earlier post.

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MIT’s 1961 graduate economics brochure has been transcribed and posted earlier.

_______________________

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
The Graduate Program in Economics
1974 – 1975

General Information
The Ph.D. Program in Detail

Schematic Schedule of Typical Entering Student

1. Dissertation
Graduate Subjects in Economics
The Faculty in Economics

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
The Graduate Program in Economics
1974–75

1. General Information
  [Table of Contents]

Graduate study in economics began at M.I.T. in 1941 and has since developed to its present size of some 110 full-time students and 33 faculty members. Its major emphasis is on the training of doctoral candidates in a broad program of advanced study and research for professional careers in universities or colleges, in governmental and private research organizations, or in business or financial concerns. At the present time the demands on a professional economist are such that the depth and breadth of the doctoral program have become indispensable training for a successful career. The Department, therefore, ordinarily admits to full-time graduate study only candidates for the Ph.D. In order to maintain a close and continuing contact between students and faculty, the entering class is normally held to 30.

1. Program of Studies
  [Table of Contents]
  1. Ph.D. in Economics
    [Table of Contents]

The doctorate normally requires the full-time concentration of the student for three or four years. Formal requirements are limited in number. The candidate must (1) demonstrate a mastery in five fields of study in economics, one of which is economic theory, both micro and macro; (2) achieve a specified level of competence in economic history, econometrics, and statistics; (3) submit and defend a dissertation that represents a contribution to knowledge; and (4) be in residence for a minimum of two years.

These requirements are met not merely by passing some appropriate set of subjects, but through an over-all preparation of subject matter and techniques that goes beyond course work. Candidates may differ in their rate of progress toward the satisfaction of these requirements, depending on their background, preparation, and interests. Normally, however, the satisfaction of requirements, other than the dissertation, is completed by the end of the second year.

The dissertation is a test of the candidate’s ability to conduct independent research — to formulate a significant topic and to bring to bear on it the analytic and quantitative tools of economics. The dissertation is prepared under the direction of departmental committee. Upon submission of the completed thesis, the candidate is examined orally by the thesis committee.

The Department has no general foreign language requirements. When a foreign language is essential for full access to the literature in the field of the student’s major interest (for example, European Economic History, Communist Economies) or to his thesis research, a language requirement will be imposed by the Department upon the recommendation of the Thesis Supervisor or the Graduate Registration Officer. Such a requirement will be administered by the Department of Foreign Literatures and Linguistics, and can be met by satisfactory course work at other schools, at M.I.T., or by examination.

1. 1. Interdepartmental Ph.D. Program
    [Table of Contents]

Occasionally students may desire a program that overlaps more than one department, but which in content and depth meets doctoral standards. At the initiative of the student, and with the approval of faculty members of each department, arrangements can be made to have the Dean of the Graduate School appoint a committee to guide the entire Ph.D. program. For details see the Graduate Student Manual. One such program, for instance, has been worked out with the Department of Urban Studies and Planning.

1. 1. Master’s Program
    [Table of Contents]

In very special and rare cases, students are admitted for study programs leading to the M.S. in Economics. This is awarded upon the satisfactory completion of a program, approved by the Graduate Registration Officer, of a year’s full-time study, including the presentation of a satisfactory thesis. The master’s program usually involves completion of the Department’s core requirements (see below), a semester of econometrics, and two semesters of a special field, in addition to the thesis.

1. Admission to the Graduate School
  [Table of Contents]

To be admitted into the program, a student must hold a Bachelor’s degree or its equivalent from an accredited college or university. It is not essential that the undergraduate degree be in economics. Graduate students entering the Department have had a wide variety of major background preparation varying from literature to physics. Some preparation in undergraduate economics, especially in economic analysis, is almost a necessity. Candidates who, upon admission, are deficient in mathematics are strongly urged to take mathematics in the summer before entering the program or work on a recommended self-study program in calculus to prepare for 14.102 Mathematics for Economists.

Completed application forms for admission must be submitted to the Admissions Office at M.I.T. by January 15 of the calendar year in which the applicant wishes to enter. In addition to the Institute application forms, the Department expects each applicant to submit a statement (one or two pages) explaining his interest in economics. An informal questionnaire is provided for his general guidance. Entrance is normally in September. February entrance is granted only under exceptional circumstances, since many subjects given in the spring are continuations of work given in the fall.

All applicants are urged to take the Graduate Record Examinations no later than 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. (Information can be obtained by writing to Graduate Record Examinations, Educational Testing Service, Box 955, Princeton, New Jersey 08540. Students in western states or in eastern Asia or the Pacific should write to 1947 Center Street, Berkeley, California 94704.)

Decisions regarding admission are the responsibility of the Departmental Graduate Admissions Committee, which bases its judgment on the undergraduate academic record of the applicant, both in general and with respect to particular subjects, on the letters of recommendation, and on the Graduate Record Examinations. Further information may be secured by writing to the chairman of the committee. Notices of acceptance are sent out by April 1, and candidates have until April 15 to notify the Department of their choice.

1. Fellowships, Scholarships, and Financial Assistance
  [Table of Contents]

While in the past virtually all graduate students received financial aid through scholarships, fellowships, or assistantships, the financial situation has changed to such an extent that complete support can no longer be assured. Moreover, the outlook is so uncertain that no definite statement is possible, even about minimum aid. Every effort will be made within the limits of our financial resources to support students who perform effectively. In view of this uncertainty, the Department is making efforts to expand the number of research assistantships, but students should expect to earn or borrow a larger proportion of their support than has been true in the past.

The sources of financial support are varied. (1) Many students are assisted by fellowships for which there is a national competition, such as those given by the National Science Foundation (NSF), the Ford Foundation, the Danforth Foundation, the Canada Council, and by foreign governmental agencies. Applications for such fellowships must be made directly to the appropriate foundation or agency, and an application for admission must also be made to M.I.T. (2) Awards of scholarships or fellowships are also made from M.I.T. funds or endowments. These include the Hicks Fellowship in Industrial Relations, the Graduate Economics Alumni Fellowships, endowed Institute fellowships, and a limited number of departmental awards. (3) A third group of students is supported by part time teaching and research assistantships and instructorships. In the past, research and teaching assistantships have been limited to candidates who have passed their general examination and are engaged in thesis research. However, in the light of the present financial stringency, these rules may be relaxed somewhat with respect to limited research assistantships for second year students. (4) Finally, students in good standing can avail themselves of loans through the Office of Financial Aid. U.S. citizens who are planning to be teachers may avail themselves of an NDEA loan, a substantial portion of which is forgiven upon entry into and continuance in teaching. They are also eligible for government-insured loans that are partially subsidized. Foreign students. however, may borrow only through the Graduate Loan Fund at the prime interest rate.

Entering students should apply for financial aid not later than January 15 of the calendar year in which they plan to enter. First-year awards are made on April 1, and applicants are given until April 15 to accept. Departmental awards for second and subsequent years are made in June. It is entirely appropriate for students to apply both for national awards and to M.I.T., since the outcome of national competitions is known before our awards are announced. Fellowships normally will include some cash payment toward living expenses, up to $2,000 for a single or married person without dependents, made in two equal installments at the beginning of each term. In offering scholarships and fellowships, the Department takes into account need as well as professional promise.

Remuneration for research assistantships varies, but in 1974-75 is normally at the rate of $6,585 per academic year for half-time work, out of which tuition of $3,350 must be paid. A half-time teaching assistantship in 1974-75 covers the tuition and pays $3,510 for the academic year — a total of $6,860. A very few half-time instructorships, for students who have demonstrated conspicuously effective teaching as an assistant, cover tuition plus $4,345 for living expenses — a total of $7,695 for the academic year.

As a supplement to academic-year appointments, both interdepartmental and departmental research groups are possible sources of full-time summer employment.

The academic performance of the student body is periodically reviewed to determine whether or not normal academic progress is being made. Failure to maintain normal progress may result in reduction or withdrawal of financial support. Students are invited at all times to discuss academic problems with their graduate registration officer, and the Department makes every effort to accommodate the needs of individual students.

1. Foreign Students
  [Table of Contents]

The Department has always welcomed foreign graduate students. They have typically constituted a significant portion of the student body. Some M.I.T. fellowships are available to entering foreign students, though the number is limited and the competition severe. Foreign students have an additional burden of transportation expense to cover and for this reason it is highly desirable to try to obtain at least partial support from other sources as well.

General information on scholarships, grants and travel can be obtained from the Institute of International Education, 809 United Nations Plaza, New York, New York, 10017, or from the Cultural Affairs Officer or the United States Information Service Office nearest the student’s place of residence.

Foreign applicants are required to submit evidence of their ability to carry on studies in English. Applicants whose native language is not English are required to take the test of English as a Foreign Language (TOEFL). Students whose schooling has been in English may request a waiver from the Advisor to Foreign Students at M.I.T. TOEFL is administered by the Educational Testing Service, Princeton, New Jersey, 08540; registration material and information about the test may be obtained by writing to the above address.

1. Living Arrangements
  [Table of Contents]

The Department is located in the Sloan Building, which, along with the adjoining Hermann Building, contains contiguous faculty offices, classrooms and seminar rooms, and student and faculty lounges. This complex also houses the Sloan School of Management, the Department of Political Science, and the Center for International Studies. The Dewey Library occupies two floors of the Hermann Building and contains the social science collection at M.I.T., reading rooms, and carrels to which thesis writers are assigned individually.

On-campus housing for graduate students is limited. Applications should be sent to the On Campus Housing Office, Room E18-307, M.I.T. Help in securing off-campus housing is given by the Community Housing Service, E18-306, M.I.T. Students should be alerted to the fact that Cambridge rental units are limited and in heavy demand. Transportation is convenient; the Sloan Building is located one block from the Kendall Square subway station.

1. Graduate Economics Associations
  [Table of Contents]

The Graduate Economics Association, composed of all graduate students, is a lively organization that sponsors monthly seminars and social events, and is one of the channels through which mutual student-faculty problems are discussed. The seminars permit discussions of current research by distinguished economists and occasional dialogues between faculty members. They are often followed by small dinners to which graduate students and faculty are invited, permitting more discussion among visitors, students and faculty. The Association annually elects nine student representatives to participate as voting members in Department meetings and other Department committees. Student representatives are full participants in all matters except those involving specific, identifiable individuals, or undergraduate matters. This policy at present excludes the discussion of details, but not the general policy, of tenure decisions, review of non-tenure faculty, new appointments, review of student performance, admissions and financial support.

The Black Graduate Economics Association provides a forum for the development and utilization of economic tools for solving the problems faced by Black people, encourages policies and programs which help increase the supply of highly qualified Black economists, opens lines of communication with other Black graduate students, Black economists, and the Black community, stimulates academic excellence, and provides outlets for various social activities. The BGEA has helped develop audio-visual aids now in use in many Black colleges’ economics departments, engaged in Institute recruiting projects, and participated in conferences of Black economists and administrators of Black colleges and universities. An econometric model of income and expenditures in Black communities is in its initial stage of development as a research project.

The Ph.D. Program in Detail
[Table of Contents]
1. General Plan of the Program
  [Table of Contents]

Students who complete the Ph.D. program should have a thorough understanding of the existing principles of economic theory and of the economic structure; an ability to think systematically about, and apply quantitative methods to, economic problems. The program gives roughly equal emphasis to these two goals, with formal courses and examinations to meet the first, and seminars, workshops, papers and the dissertation to meet the second. The student spends most of his first two years attempting to understand the existing ideas of economics. A basic principle of the program is that these ideas are sufficiently worthwhile so that their study is a necessary prelude to their use or criticism.

Throughout the program, there are formal provisions for students to engage in original work. During the first two years, term papers are often required. During the second year each student prepares a research paper as part of the requirement in econometrics. Second-year students are also encouraged to take part in workshops in their fields of primary interest. After passing the general examination, at the end of the second year or earlier, students spend full time in their own independent, original work. Their only formal obligation is to participate actively in the weekly meetings of the workshops in their fields of research.

1. The Core of the Graduate Curriculum
  [Table of Contents]

The Department offers an integrated set of subjects in economic theory, mathematics, econometrics and economic history.

1. 1. Economic Theory
    [Table of Contents]

The core in economic theory consists of two subject-years equally divided between microeconomics (14.121-14.124) and macroeconomics (14.451-14.454). These subjects are described in Section III of this report. The material is divided into half-semester subjects. The microtheory sequence starts in the fall term and runs through the first year, while the macrotheory sequence starts in the spring term and continues through the fall term of the second year. A qualifying examination on these subjects is offered three times a year — in September, December-January, and May — that must be passed in order to satisfy this part of the core requirement. The examination will cover each of the eight portions of the theory core, and a syllabus is available for each.

When a student feels sufficiently well qualified in the subject matter of any of the theory core subjects, he may take the qualifying examination, either before or after a particular set of lectures is offered. Only a passing grade is recorded when the examination is taken in advance of the lectures. If he fails to pass, he can then enroll for that particular section of theory and take the examination again at the end of that term. Should he pass some portion of theory by the preliminary examination, he could substitute a subject in advanced economic theory in the half-term in which he would have taken the basic theory subject. In principle, it is possible to pass all eight units of the theory core in this way and to proceed directly to more advanced work.

The Schedule for the Qualifying Examination in Theory is as follows:

Subject matter covered in:	Preliminary	Regular	Make-up
14.121-122	Sept.-Year I	Dec.-Year I	Sept.-Year II
14.123-124, 14.451-452	Jan.-Year I	May-Year I	Jan. Year II
14.453-454	Sept.-Year II	Dec.-Year II	Sept.-Year III

1. 1. Mathematics
    [Table of Contents]

The minimal core requirement in mathematics is calculus and linear algebra. Calculus is required for Statistics (14.381). While not stated as a formal prerequisite for the core theory subjects, it is virtually a necessity for mastering them.

If a student’s preparation in calculus were inadequate to satisfy the prerequisite for 14.102 Mathematics for Economists, the completion of the statistics and economics core requirements would be postponed a year. Econometrics (14.382 and 14.383 and most advanced theory subjects (14.141-14.149) require linear algebra. Students who have had a year of calculus and who want more mathematical training normally would take Mathematics for Economists (14.102) in the first term.

1. 1. Econometrics
    [Table of Contents]

The econometrics and statistics core requirement can be satisfied by (1) Statistics (14.381); (2) either Econometrics (14.382 and 14.383) or Applied Econometrics (14.388); and the completion of a piece of empirical research the equivalent of a term paper. This paper is due by the end of the fall term of the second year.

Entering students who lack calculus, and cannot take 14.102 in the first term, have two choices: either to postpone the three-term sequence: 14.381, 14.382, and 14.383 — to their third through fifth terms, or to take the two-term sequence, 14.381 and 14.388, in their third and fifth terms.

1. 1. Economic History
    [Table of Contents]

The core requirement in economic history is the satisfactory completion of one subject in American Economic History (14.731), European Economic History (14.733), or Russian Economic History (14.781).

1. Special Fields
  [Table of Contents]

In addition to the satisfactory completion of the core requirements, competence in four special fields must be demonstrated, two by passing a general examination and two by either satisfactory course work or a general examination. Preparation for a field examination normally consists of a year’s course work. Satisfaction of a field by course work alone requires the achievement of a grade of B or better in each of the two terms of subject matter. (The econometrics and history requirements can be satisfied with a grade of B-.) The areas in which the Department offers specialization are: advanced economic theory, international economics, labor economics, economic development, urban economics, monetary economics, fiscal economics, statistics and econometrics, economic history, industrial organization, comparative economic systems, Russian economics, human resources and income distribution, and, outside the Department, finance, production, transportation, and operations research. It is possible to use econometrics as a field without preparation beyond the core requirements. Economic history can be offered as a field by adding a second subject to the one satisfying the core requirement.

Students normally demonstrate competence in all four fields by the end of their second year. That is, they normally finish their required course work and general examinations by that time. In the event that scheduling or other difficulties interfere with this timing, one field other than theory or econometrics (including the paper — see II.B.3 above), or one subject in a field and in history, may be postponed until the third year. Before making such a deferment, students should consult with their Graduate Registration Officer.

Students planning to take the general examination before the end of the second year — the usual time — should consult in advance with their Graduate Registration Officer. In any case, such students would still be held to the above schedule.

Schematic Schedule of Typical Entering Student
[Table of Contents]

	[First year]		[Second year]
	1^st [term]	2^nd [term]	3^rd [term]	4^th [term]
Theory: Micro	14.121-2	14:123-4
Theory: Macro		14.451-2	14-453-4
Statistics and Econometrics	14.381 or 14.381	14.382	14.383 14.388
Mathematics	14.102
Special Fields and History	1 subject	1-2 subjects	2 subjects	4 subjects
Total Number of Subjects	4	4	4	4

*The minimal number of subjects to satisfy the special field and history requirements depends on whether history or econometrics is offered as a special field. If neither are offered, 9 subjects are required; if history, 8 subjects; if econometrics, 7 subjects; if both, 6 subjects.

1. Dissertation
  [Table of Contents]

Upon satisfaction of the core and field requirements, the Ph.D. candidate embarks on original research culminating in a completed dissertation that is defended orally. Thesis writers are required to participate in the workshop most germane to the subject of their thesis over the period of time they are working on it. Upon agreement on a topic with a primary thesis supervisor, a secondary thesis supervisor will be chosen by the student, subject to the approval of the Graduate Committee. A third faculty reader will be appointed by the Graduate Committee in consultation with the candidate when a final draft of the thesis will reasonably be expected to be completed within six months. The third faculty reader will have as his main function the unitary reading of the complete final draft of the thesis. These three faculty members will be the candidate’s thesis committee and are responsible for its acceptance and final defense.

In order to give adequate time for the final thesis review and revision, the completed draft must be submitted for final review a month before the Institute dates for submission of the dissertation. In 1975 the formal Institute dates are January 5, May 2, and August 11.

Graduate Subject in Economics
[Table of Contents]
1. General Economics and Theory
  [Table of Contents]

14.101	Mathematics for Economists Prereq.:—————	Units
14.101	Year: G(1)	3-0-6
Elementary calculus. Applications in economics. (Not offered 1974-75)

14.102	Mathematics for Economists Prereq.: 14.101	Units
14.102	Year: G(1)	3-0-6
Vector spaces and matrices; multivariate calculus and maximization with equality constraints; elementary differential equations.		H. A. Freeman

14.121	Microeconomic Theory I (A) Prereq.: 14.04	Units
14.121	Year: G(1) (1^st half of term)	2-0-4
Monopoly, oligopoly, product differentiation, monopsony. Comparison with pure competition. Comparative statics. Partial equilibrium welfare analysis.		R. L. Bishop

14.122	Microeconomic Theory II (A) Prereq.: 14.121	Units
14.122	Year: G(1) (2nd half of term)	2-0-4
Introduction to the theory of resource allocation and the price system. Emphasis on the use of efficiency prices as a guide to decentralized decision making.		M. L. Weitzman

14.123	Microeconomic Theory III (A) Prereq.: 14.122	Units
14.123	Year: G(2) (1^st half of term)	2-0-4
Theory of the producer and consumer. Cost functions, expenditure functions. Theory of distribution. Introduction to general equilibrium.		H. R. Varian

14.124	Microeconomic Theory IV (A) Prereq.: 14.123	Units
14.124	Year: G(2) (2nd half of term)	2-0-4
Capital theory and welfare economics.		P. A. Samuelson

14.132	Schools of Economic Thought (A) Prereq.:14.122	Units
14.132	Year: G(2)	3-0-6
Economic ideas developed by different groups of economists in recent times.		R. L. Bishop, P. A. Samuelson

14.141	General Equilibrium Theory Prereq.:14.124	Units
14.141	Year: G(1) (2^nd half of term)	2-0-4
General equilibrium. Existence and stability of competitive equilibrium. The core of an economy. (Not offered in 1974-75)		F. M. Fisher

14.142	Mathematical Programming and Economic Theory (A) Prereq.:14.122	Units
14.142	Year: G(2) (1^st half of term)	2-0-4
A rigorous treatment of linear and non-linear programming with applications to economic model building, including activity analysis and input-output.		M. L. Weitzman

14.143	Advanced Theory of the Market III (A) Prereq.: 14.122	Units
14.143	Year: G(2) (2^nd half of term)	2-0-4
Oligopoly and product differentiation, advertising, equilibria with seasonal or cyclical demand shifts.		R. L. Bishop

14.144	Applied Price Theory Prereq.:14.122	Units
14.144	Year: G(1) (1^st half of term)	2-0-4
Applications of price theory treated topically. Selected topics in price theory, with focus changing from year to year. Current emphasis is on the economics of exhaustible and renewable natural resources.		R. M. Solow

14.145	Economics of Uncertainty Prereq.:14.124	Units
14.145	Year: G(2)	3-0-9
Individual behavior under uncertainty. Equilibrium and welfare under uncertainty. Search and information.		J. A. Hausman, P. A. Diamond

14.148	Advanced Topics in Microeconomic Theory (A) Prereq.:14.124	Units
14.148	Year: G(2)	Arr.
14.149	Advanced Topics in Microeconomic Theory (A) Prereq.:14.124
14.149	Year: G(2)	Arr.
Advanced topics in microeconomic theory of current interest.		Staff

14.151	Mathematical Approach to Economics (A) Prereq.:14.122	Units
14.151	Year: G(2)	3-0-6
The use of mathematical methods in all the fields of economics.		P. A. Samuelson

14.191	Economics Seminar (A) Prereq.:14.121, 14.122	Units
14.191	Year: G(1)	3-0-6
14.192	Economics Seminar (A) Prereq.:14.121, 14.122
14.192	Year: G(2)	3-0-6
Special economic problems. In 1974-75, 14.192 — Economics of Public Sector.		J. Rothenberg

14.193	Seminar: Topics in Economics (A) Prereq.:14.121, 14.451	Units
14.193	Year: G(1)	3-0-6
14.194	Seminar: Topics in Economics (A) Prereq.:14.122, 14.452
14.194	Year: G(2)	3-0-6
Topics in economics of current interest.		Staff

14.195	Reading Seminar in Economics (A) Prereq.:14.122	Units
14.195	Year: G(1)	Arr.
14.196	Reading Seminar in Economics (A) Prereq.:14.122
14.196	Year: G(2)	Arr.
Reading and discussion of special topics in economics. (Open to advanced graduate students by arrangement with individual numbers of the staff.)		Staff

14.197	First-Year Graduate Seminar (A) Prereq.: 14.04	Units
14.197	Year: G(1)	2-0-6
Seminar limited to first-year graduate students. Discussion of projects of students, professional literature, methodology, economic policy, extending beyond regular curriculum.		J. N. Bhagwati

1. Industrial Economics
  [Table of Contents]

14.271	Problems in Industrial Economics (A) Prereq.: 14.04	Units
14.271	Year: G(1)	3-0-6
Small and large enterprises in the American economy; market structures; degrees of monopoly and competition; requisites of public policy.		M. A. Adelman

14.272	Government Regulation of Industry (A) Prereq.: 14.271	Units
14.272	Year: G(2)	3-0-6
Follows 14.271. Development of anti-trust policy, generally and in specific cases. “Public utility” price fixing, government ownership as alternative.		P. L. Joskow

14.291	Industrial Economics Seminar (A) Prereq.:14.271	Units
14.291	Year: G(1)	3-0-6
14.292	Industrial Economics Seminar (A) Prereq.:14.271
14.292	Year: G(2)	3-0-6
Readings, discussions, reports on such topics as industrial price policies, government regulation of industry, competitive practices, and similar problems in industrial economics.		Staff

1. Statistics and Econometrics
  [Table of Contents]

14.371

Statistical Inference (A)
Prereq.: 18.02

Units

Year: G(1)

3-0-9

A compact one-term course in elementary probability and statistical Inference. Axiomatic probability, random variables, distribution functions, mathematical expectation, generating functions, transformations of random variables, simple correlation and regression models, the normal distribution, sampling theory, point and interval estimation, maximum likelihood, least squares, testing statistical hypotheses. The exposition is somewhat more mathematical than

14.381.

H. A. Freeman

14.373	Time-Dependent Probability (A) Prereq.: 14.371 or 18.303	Units
14.373	Year: G(2)	3-0-6
Markov chains and Markov processes, the relevant ergodic theorem, Kolmogorov equations, time series theory; spectral density functions, harmonic representation, autoregressive models.		H. A. Freeman

14.374	Design and Analysis of Scientific Experiments (A) Prereq.: 14.381	Units
14.374	Year: G(2)	3-0-6
Application of statistical theory to the design and analysis of scientific experiments. Factorial and fractional factorial designs. Applications to experimentation in the physical, chemical, biological, medical, and social sciences.		H. A. Freeman

14.381	Statistical Method in Economics (A) Prereq.: 14.101 or 18.02	Units
14.381	Year: G(1)	4-0-8
Self-contained introduction to probability and statistics which serves as a background for advanced econometrics. Elements of probability theory, sampling theory, asymptotic approximations, decision theory approach to statistical estimation focusing on regression, hypothesis testing and maximum likelihood methods. Illustrations from economics and application of these concepts to economic problems.		J. A. Hausman

14.382	Econometrics I (A) Prereq.:14.102, 14.381	Units
14.382	Year: G(2)	4-0-8
14.383	Econometrics II (A) Prereq.:14.382
14.383	Year: G(1)	4-0-8
Theory and economic application of the linear multiple regression model. Identification and structural estimation in simultaneous models. Analysis of economic policy and forecasting in macroeconomic models. A term paper involving substantive original empirical research is required in 14.383.		R. F. Engle, R. E. Hall, J. A. Hausman

14.386	Advanced Topics in Econometrics (A) Prereq.: 14.383	Units
14.386	Year: G(2)	3-0-6
Selected topics including specification error, non-linear estimation, simulation, aggregation, and the derivation of economic policy models. (Not offered in 1974-5)		R. F. Engle, R. E. Hall, J. A. Hausman

14.388	Applied Econometrics (A) Prereq.: 14.102, 14.381	Units
14.388	Year: G(1)	3-0-9
Theory and practice of econometrics. The linear regression model, tests of hypotheses, generalized least squares, distributed lags, and simultaneous equations. Emphasis on applications. A term paper required.		R. F. Engle

14.391	Workshop in Economic Research (A) Prereq.:14.124, 14.454	Units
14.391	Year: G(1)	2-0-10
14.392	Workshop in Economic Research (A) Prereq.:14.124, 14.454
14.392	Year: G(2)	2-0-10
Designed to develop research ability of students through intensive discussion of dissertation research as it proceeds, carrying out of individual or group. research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.		Staff

1. National Income and Finance
  [Table of Contents]

14.451	Macroeconomic Theory I (A) Prereq.: 14.06	Units
14.451	Year: G(1) (1^st half of term)	2-0-4
Macroeconomic analysis of general equilibrium. Financial markets and investment. Intertemporal equilibrium and growth models.		S. Fischer

14.452	Macroeconomic Theory II (A) Prereq.: 14.451	Units
14.452	Year: G(2) (2^nd half of term)	2-0-4
Determination of aggregate output, employment, and prices under static conditions. Keynes and alternate theories. The Phillips Curve. Inflation in the short and long run.		R. E. Hall

14.453	Macroeconomic Theory III (A) Prereq.: 14.452	Units
14.453	Year: G(1) (1^st half of term)	2-0-4
Quantitative macroeconomics. Consumption, investment, and other components of aggregate demand. Structure of complete econometric models of the U.S. economy		R. E. Hall

14.454	Macroeconomic Theory IV (A) Prereq.: 14.453	Units
14.454	Year: G(1) (2^nd half of term)	2-0-4
Growth models. Capital theory.		R. M. Solow

14.458	Advanced Topics in Macroeconomic Theory (A) Prereq.: 14.454	Units
14.458	Year: G(1)	Arr.
14.459	Advanced Topics in Macroeconomic Theory (A) Prereq.: 14.454
14.459	Year: G(2)	Arr.
Advanced topics in macroeconomic theory of current interest.		Staff

14.462	Monetary Economics I (A) Prereq.: 14.122, 14.452	Units
14.462	Year: G(2)	3-0-6
Examination of sources and determinants of supply of money with special attention to roles of commercial banks, Federal Reserve System, and Treasury. Discussion of nature of demand for money. Role of monetary policy in determination of level of economic activity. (Not offered in 1974-5; substitute 15.432 Capital Markets and Financial Institutions)		F. Modigliani

14.463	Monetary Economics II (A) Prereq.: 14.122, 14.452	Units
14.463	Year: G(1)	3-0-6
General equilibrium theory of money, interest, prices, and output; portfolio problems, cost of capital, and the effects of monetary phenomena on investment and accumulation of wealth with special reference to problems arising from uncertainty.		S. Fischer

14.471	Fiscal Economics I (A) Prereq.:14.122, 14.452	Units
14.471	Year: G(1)	3-0-6
14.472	Fiscal Economics II (A) Prereq.:14.122, 14.452
14.472	Year: G(2)	3-0-6
Examination, both theoretic and quantitative, of governmental fiscal institutions and behavior: the budget process, taxation, expenditure, pricing, and debt activities.		P. A. Diamond, A. F. Friedlaender

14.482	Income Distribution Economics (A) Prereq.: 14.124	Units
14.482	Year: G(1)	3-0-9
Modern theories and empirical studies of the determinants of the distribution of income and wealth.		L. C. Thurow

1. International, Interregional, and Urban Economics
  [Table of Contents]

14.572J	Regional Economic Analysis (A) Prereq.: 14.03 or 14.05	Units
14.572J	Year: G(2)	3-0-6
Analysis of regional economies with emphasis on the sources, characteristics, and implications of spatial concentrations of economic activities. Urban development in its regional setting is examined and the special problems of lagging areas in both developing and developed countries. Methods of integrating national and regional planning.		J. R. Harris

14.573J	Urban Economic Analysis I (A) Prereq.: 14.03 or 14.05	Units
14.573J	Year: G(1)	3-0-6
Patterns and processes of growth and structural change within metropolitan areas. The land use market and the spatial structure of the metropolitan community. The housing market: demand and supply, growth, aging, and renewal. The urban transportation system and its problems. Models of the metropolis. In each of these topics, emphasis on the resource allocation process, its efficiency and implications for income distribution.		W. C. Wheaton

14.574J	Urban Economic Analysis II (A) Prereq.: 14.573J	Units
14.574J	Year: G(2)	3-0-6
Continuation of 14.573J. The nature and problems of government decision-making in metropolitan areas. The economies of segregation, congestion, and pollution in the metropolitan area. Urban-suburban relations; market and government. Welfare economics and the normative theory of local public policy. Applied normative analysis: criteria for public expenditures; cost benefit analysis. Examination of public policy issues in current urban problems; poverty, race, the spatial form of the city, optimal land use patterns, growth and renewal, development and new communities.		J. Rothenberg

14.581	International Economics I (A) Prereq.: 14.04, 14.06	Units
14.581	Year: G(1)	4-0-8
Theory of international trade and applications in commercial policy.		J. N. Bhagwati

14.582	International Economics II (A) Prereq.: 14.581	Units
14.582	Year: G(2)	4-0-8
Adjustment in international economic relations with attention to foreign exchange markets, balance of payments, and the international monetary system.		C. P. Kindleberger

1. Labor Economics and Industrial Relations
  [Table of Contents]

14.671J	Labor Economics (A) Prereq.: 14.64 or 15.663	Units
14.671J	Year: G(1)	3-0-6
Primary emphasis on the structure of labor markets and the determinants of wage levels, unemployment, the distribution of income and employment opportunity. Special attention will also be given to the impact of unions on both wage and non-wage elements of collective bargaining in the light of the characteristics and objectives of particular unions. Other special topics growing out of recent research in labor economics.		M. J. Piore, C. A. Myers

14.672J	Public Policy on Labor Relations (A) Prereq.: 14.64, 15.663	Units
14.672J	Year: G(1)	3-0-6
Major trends in legislation and other government activities affecting the work place. Topics include wage and price controls, equal opportunity employment, and government regulation of union organization, collective bargaining, industrial disputes, wages and hours of work, and work-place health and safety. The broad economic and social questions raised by these trends also explored.		M. J. Piore D. Q. Mills

14.674J	Comparative Systems of Industrial Relations and Human Resource Development (A) Prereq.: 14.64, 15.663	Units
14.674J	Year: G(2)	3-0-6
International and comparative analysis of industrial relations systems and systems of human resource development. Concentration on an examination of selected issues involving interest groups and the strategies of economic development, including discussion of the nature and functions of labor and management organization in different contexts; the role of the state in establishing procedures and in shaping the substance of industrial relations; the participation of interest groups in the formulation of economic and social policy: manpower and economic growth in the context of comparative systems of human resource development; worker participation in management, and other topics.		C. A. Myers E. Tarantelli

14.691J	Research Seminar in Industrial Relations (A) Prereq.:14.671J or 14.672J	Units
14.691J	Year: G(1)	3-0-6
14.692J	Research Seminar in Industrial Relations (A) Prereq.:14.14.691J
14.692J	Year: G(2)	3-0-6
Discussion of important areas for research in industrial relations, frameworks for research, research techniques, and methodological problems. Centered mainly on staff research and the thesis research of advanced graduate students		C. A. Myers

14.672J	Public Policy on Labor Relations (A) Prereq.: 14.64, 15.663	Units
14.672J	Year: G(1)	3-0-6
Major trends in legislation and other government activities affecting the work place. Topics include wage and price controls, equal opportunity employment, and government regulation of union organization, collective bargaining, industrial disputes, wages and hours of work, and work-place health and safety. The broad economic and social questions raised by these trends also explored.		M. J. Piore D. Q. Mills

1. Economic History
  [Table of Contents]

14.731	American Economic History (A) Prereq.: 14.121	Units
14.731	Year: G(1)	3-0-6
Survey of the beginnings of American industrialization, emphasizing a quantitative approach and the nineteenth century. Topics include effects of government economic policies, such as land distribution and tariffs, the importance of railroads, profitability of slavery.		P. Temin

14.732	Russian Economic History (A) Prereq.: 14.122	Units
14.732	Year: G(2)	3-0-9
A comparative study of the major problems in Russian economic history prior to 1917 both for their own sake and as a background for understanding of the events of 1917 and of the Soviet policies since. The topics covered vary yearly depending on the interests of the participants, but the land and peasant problems and industrialization methods emphasized.		E. D. Domar

14.733	European Economic History (A) Prereq.: 14.121	Units
14.733	Year: G(1)	3-0-6
Development of the European economy since 1750 and, especially since 1850, with emphasis on growth and slowdown, the transition from local to national and European-wide institutions, and extra-European relations.		C. P. Kindleberger

14.734	Problems in Economic History (A) Prereq.: 14.731, 14.732, or 14.733	Units
14.734	Year: G(2)	3-0-6
Analysis of problems of industrial society, concentrating on the century after 1860 and on the American experience. Topics vary yearly and include effects of wars on welfare and growth, the nature of the long deflation of the late nineteenth century, the contrast in international relations before and after 1914, the depression of the 1930’s.		P. Temin

1. Economic Development
  [Table of Contents]

14.771	Problems of Economic Development (A) Prereq.: 14.122, 14.452	Units
14.771	Year: G(1)	3-0-6
Analysis of problems of the rural sector in developing countries, urban-rural migration, unemployment, sectoral balance and efficiency of private resource allocation.		R. S. Eckaus

14.772	Theory of Economic Development (A) Prereq.: 14.122, 14.452	Units
14.772	Year: G(2)	3-0-6
Analysis of problems of international trade and development; study of structure and use of planning models for development policy and use of cost benefit analysis.		J. N. Bhagwati

14.773	Optimal Growth Theory (A) Prereq.: 14.124, 14.454	Units
14.773	Year: G(2)	3-0-9
The optimal growth problem, duality theory, development and application of the maximum principle. The behavior of optimal trajectories for a variety of situations. (Alternate years. Offered 1974-75.)		M. L. Weitzman

14.774J	Transfer and Adaptation of Technology in Developing Countries (A) Prereq.: Permission of Instructor	Units
14.774J	Year: G(2)	3-0-6
Consideration of the problems of transferring and adapting technologies originating and used in the richer countries of the world to the developing nations. Specific topics include: political, institutional, economic, and engineering issues involved in the transfer of technology.		R. S. Eckaus, F. Moavenzadeh, N. Choucri

14.782	Capitalism, Socialism and Growth (A) Prereq.: 14.122, 14.452	Units
14.782	Year: G(1)	3-0-6
A comparative study of capitalist and socialist economies mainly from the point of view of development and growth, and with major emphasis on the economy of the Soviet Union.		E. D. Domar

14.783	Theory of Central Planning (A) Prereq.: 14.124	Units
14.783	Year: G(2)	3-0-9
Multilevel planning. Decomposition principles and their application. Planning with prices and with quantities. Materials balancing and input-output. Applications of inventory theory. The problems posed by non-convexities. (Alternate years. Not offered 1974-75.)		M. L. Weitzman

The Faculty in Economics
[Table of Contents]

Morris A. Adelman, Ph.D., Harvard; Professor of Economics.

Sidney S. Alexander, Ph.D., Harvard; Professor of Economics.

Jagdish N. Bhagwati, Ph.D., M.I.T.; Professor of Economics.

Robert L. Bishop, Ph.D., Harvard; Professor of Economics; Chairman, Graduate Admissions Committee.

E. Cary Brown, Ph.D., Harvard; Professor of Economics; Head of Department.

Peter A. Diamond, Ph.D., M.I.T.; Professor of Economics; Graduate Registration Officer; Chairman, Department Graduate Committee.

Evsey D. Domar, Ph.D., Harvard; Professor of Economics; Graduate Placement Officer.

Richard S. Eckaus, Ph.D., M.I.T.; Professor of Economics; Graduate Registration Officer; Chairman, Committee on Economic Research.

Robert F. Engle, III, Ph.D., Cornell; Associate Professor of Economics.

Stanley Fischer, Ph.D., M.I.T.; Associate Professor of Economics.

Franklin M. Fisher, Ph.D., Harvard; Professor of Economics (on leave).

Harold A. Freeman, S.B., M.I.T.; Professor of Statistics.

Ann F. Friedlaender, Ph.D., M.I.T.; Professor of Economics.

Robert E. Hall, Ph.D., M.I.T.; Professor of Economics; Graduate Registration Officer.

John R. Harris, Ph.D., Northwestern; Associate Professor of Economics.

Jerry A. Hausman, Ph.D., Oxford; Assistant Professor of Economics.

Karl G. Jugenfeldt, Ph.D., Visiting Professor of Economics (Spring Term).

Paul L. Joskow, Ph.D., Yale; Assistant Professor of Economics.

Charles P. Kindleberger, Ph.D., Columbia; Professor of Economics.

Edwin Kuh, Ph.D., Harvard; Professor of Economics.

Franco Modigliani, D.Jur., Rome, and D.Soc.Sci., New School of Social Research; Institute Professor; Professor of Economics.

Charles A. Myers, Ph.D., Chicago; Professor of Industrial Relations.

Michael J. Piore, Ph.D., Harvard; Associate Professor of Economics (on leave, Spring Term).

Jerome Rothenberg, Ph.D., Columbia; Professor of Economics.

Paul A. Samuelson, Ph.D., Harvard; Institute Professor; Professor of Economics.

Abraham J. Siegel, Ph.D., California (Berkeley); Professor of Industrial Relations; Associate Dean of Management.

Robert M. Solow, Ph.D., Harvard; Institute Professor; Professor of Economics.

Lance J. Taylor, Ph.D., Harvard; Professor of Nutritional Economics.

Peter Temin, Ph.D., M.I.T.; Professor of Economics.

Lester C. Thurow, Ph.D., Harvard; Professor of Economics (on leave, Spring Term).

Hal R. Varian, Ph.D., California (Berkeley); Assistant Professor of Economics.

Martin L. Weitzman, Ph.D., M.I.T.; Professor of Economics.

William C. Wheaton, Ph.D., Penn.; Assistant Professor of Economics.

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

Tags Adelman, Alexander, Bhagwati, Bishop, BrownEC, Diamond, Domar, Eckaus, Engle, Fischer, FisherFM, FreemanHA, Friedlaender, HallR, HarrisJR, Hausman, Joskow, Kindleberger, Kuh, MillsDQ, Modigliani, Myers, Piore, Rothenberg, Samuelson, Siegel, Solow, Tarantelli, TaylorLJ, Temin, Thurow, Varian, Weitzman, Wheaton

Economics Programs M.I.T. Regulations

MIT. Revising Economics Ph.D. General Examinations. E.C.Brown, 1975

Post author By Irwin Collier
Post date 2021-02-12

What makes this memo from E. Cary Brown particularly useful is that it provides us with a list of the graduate economics fields along with the participating faculty members as of 1975. Also the major revision proposed was to have a system of two major fields (satisfied with general examinations) and two minor fields (satisfied by course work). Interesting to note that graduate student input was clearly integrated into the revision procedure.

________________________

Memo from Chairman E. Cary Brown
on a Revision of General Exams, 1975

April 28, 1975

To: Economics Department Faculty and Graduate Students
From: E. C. Brown
Re: Revision of General Examinations

While it has been left that a Committee would be appointed to review the procedures of the general examination (see minutes of the Department Meeting of April 23, 1975), further informal discussion has moved toward a proposed concept of these examinations that I am submitting for consideration and agreement.

There seems reasonable satisfaction about the structure of the present examinations, subject to clarification of the final 2 field examinations and their relationship to the 2 field write-offs.
It is proposed that the 2 fields satisfied by passing the “general” examinations be designated major The examination will be offered in a field, will cover the field in a general way, and will be separated from course examinations. Minor fields will be satisfied by course work. A somewhat lower standard will be imposed in minor fields than in major fields. The “generals” examination, therefore, would apply to the fields of the candidate’s expected expertise, and emphasis would be on a broad coverage of the field.
Each field should, therefore, describe its general requirements for the field as a major one, and list the subjects that may reasonably be offered as a write-off to satisfy the field as a minor one. There should also be some details on the requirements when fields are closely linked (e.g., the proposal for the transportation field and its relationship to urban economics).
Assuming this proposal to be agreeable, the question of term papers still needs settling.

I propose, therefore, the following procedures:

Would each of you give Sue Steenburg a list of your graduate subjects for this academic year, with an indication of whether or not a term paper was required and, if so, the percentage of final grade it represented.
Would faculty in each field submit a list of subjects that may be used to satisfy major and minor requirements in their field as it would ultimately appear in the brochure. The fields to be covered are as follows, the faculty in the field are listed, and the responsible member underlined.

Advanced Economic Theory	Bishop, Diamond, Solow, Fisher, Samuelson, Varian, Hausman, Weitzman
Comparative Economic Systems	Domar, Weitzman
Economic Development	Eckaus, Bhagwati, Taylor
Economic History	Kindleberger, Temin, Domar
Finance	Merton
Fiscal Economics	Diamond, Friedlaender, Rothenberg, Brown
Human Resources and Income Distribution	Thurow, Piore
Industrial Organization	Adelman, Joskow
International Economics	Kindleberger, Bhagwati
Labor Economics	Piore, Myers, Siegel
Monetary Economics	Fischer, Modigliani
Operations Research	Little, Shapiro
Russian Economics	Domar, Weitzman
Statistics and Econometrics	Hall, Hausman, Fisher, Kuh
Transportation	Friedlaender, Wheaton
Urban Economics	Rothenberg, Wheaton

If there are any difficulties with these suggestions, let me know right away. If we can proceed along these lines, it appears to be simply a clarification of our recent past and a substantial timesaver. The reports can be looked at this summer by a student-faculty group, with responsibility for faculty on me and for students on Dick Anderson.

Source: M.I.T. Archives. Department of Economics Records, Box 2, Folder “Grad Curriculum”.

Image with identifications: Economics Faculty group portrait, 1976.

Tags Adelman, Bhagwati, Bishop, BrownEC, Diamond, Domar, Eckaus, FisherFM, Friedlaender, HallR, Hausman, Joskow, Kindleberger, Kuh, MertonRC, Modigliani, Myers, Piore, Rothenberg, Samuelson, Shapiro, Siegel, Solow, Soloway, TaylorFW, Temin, Thurow, Weitzman, Wheaton

Funny Business M.I.T.

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

Post author By Irwin Collier
Post date 2018-09-02

Boston, MA - 1/1/1960: From left, Boston Celtics players Tom Heinsohn, Bill Russell, Capt. Bob Cousy, Bill Sharman and Frank Ramsey pose together at the Boston Garden in Boston circa 1960. (Boston Globe Archive/) --- BGPA Reference: 170504_BS_001

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)

Tags Ando, Bator, Bishop, BrownEC, Domar, EvansR, FisherFM, Friedman, Galbraith, Hymer, Kindleberger, Millikan, Rosenstein-Rodan, Samuelson, Siegel, Solow

Economics Programs Fields M.I.T.

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

Post author By Irwin Collier
Post date 2018-02-07
1 Comment on 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

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.
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.
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.
The department welcomes applications from qualified women.
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.)
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.
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.
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.
Fellowships and scholarships in amounts up to $3250 are available for entering graduate students.
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.
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.
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.
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.
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.

Tags Adelman, Ando, Bator, Bishop, BrownEC, Domar, Evans, FisherFM, FreemanHA, FreemanRE, Hagen, JamesRC, Kindleberger, Kuh, Millikan, Myers, Pigors, Rosenstein-Rodan, Rostow, Samuelson, Siegel, Solow

Economists M.I.T.

MIT. Department of Economics Group Photo, 1976

Post author By Irwin Collier
Post date 2016-04-12

Back Row: Harold FREEMAN, Hal VARIAN, Jerome ROTHENBERG, Peter DIAMOND, Jerry HAUSMAN

4th Row: Paul JOSKOW, Anne FRIEDLAENDER, JOHN R. MORONEY (VISITOR TO DEPARTMENT)

3rd Row: Stanley FISCHER, Jagdish BHAGWATI, Rudiger DORNBUSCH, Robert SOLOW, Robert HALL

2nd Row: Edward KUH, Morris ADELMAN, Abraham J. SIEGEL, Richard ECKAUS, Martin WEITZMAN

1st Row: Evsey DOMAR, Paul SAMUELSON, Charles KINDLEBERGER, E. Cary BROWN, Franco MODIGLIANI, Sydney ALEXANDER, Robert BISHOP

Apparently didn’t get the memo and/or not pictured: Michael PIORE, Frank FISHER, Peter TEMIN.

Thanks to Robert Solow, the photo-bomber standing to Solow’s left in the picture has been identified as a guest from Tulane University, John Moroney. It is possible that I forgot some other person not included in this faculty picture.

I note that the entire front row has gone to that great Department of Economics in the Cloud.

Source: A graduate student buddy of mine who entered the MIT Ph.D. program in 1975/76.

______________________

If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled of which this is the 250th. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….

Tags Adelman, Bhagwati, Bishop, BrownEC, Diamond, Domar, Dornbusch, Eckaus, Franklin Fisher, FreemanHA, Friedlaender, Hall, Hausman, Joskow, Kindleberger, Kuh, Modigliani, Piore, Rothenberg, Samuelson, Siegel, Solow, Stanley Fischer, Temin, Varian, Weitzman

MASSACHUSETTS INSTITUTE OF TECHNOLOGY The Graduate Program in Economics 1974 – 1975

TABLE OF CONTENTS

MASSACHUSETTS INSTITUTE OF TECHNOLOGY The Graduate Program in Economics 1974–75

Memo from Chairman E. Cary Brown on a Revision of General Exams, 1975

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

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

ACT I

ACT II

ACT III

ACT IV

ACT V

ACT VI

The Graduate Program in Economics

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

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

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

Ph.D. Degree

Major Program and General Examinations

Foreign Languages

Minor Program

Courses at Harvard

Residence Requirements

Dissertation and Special Examination

Total Program of Course Work

Time Required for the Ph.D. Degree

Summer School

Admission

Special Students

Deficiencies

Fellowships, Scholarships, and Financial Assistance

The Faculty in Economics and Industrial Relations

Graduate Subjects

[Production Credits]

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
The Graduate Program in Economics
1974 – 1975

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
The Graduate Program in Economics
1974–75

Memo from Chairman E. Cary Brown
on a Revision of General Exams, 1975

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

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