Judging by the following syllabus, the entry level graduate course for economic theory at Columbia sixty years ago seems to have been pitched no higher than the level of an undergraduate intermediate economic theory of today.
The syllabus transcribed for this post comes from William Vickrey’s papers in the Columbia University Archives. We can see there was a deviation from the originally announced announcement with the addition of Paul Wonnacott (a recent Princeton PhD) to co-teach with the department chairman Albert G. Hart. It is not clear what is meant below that Vickrey teaches “a reverse section” to start in January 1960, though I suspect it meant that the sequence could either be taken with Hart [first semester (101) then second semester (102)] or the sequence could be taked lagged one semester with Vickrey [second semester (101) then first semester of the following year (102)].
I will be going back into my files to see if I can find Hart’s 102 syllabus for 1960.
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From Course Announcements 1959-60
Economics 101-102. Economic Analysis
Sec 1: Professor [Albert G.] Hart. (3) ThTh 11.
Sec 2: Professor [William] Vickrey. (3) TuTh 4:10.
May be taken only for E credit [“examination credit” where course requirements include a final examination or paper with a recorded letter grade (A,B,C,D or Pass).]. Students who have not completed Economics 101 are admitted to 102 only with the instructor’s permission.
Detailed analysis of the reactions of producing units (firms) and consuming units (households); determination through the market of resource allocation, outputs, prices, and incomes; capital and interest; theories of general equilibrium (Walrasian and Kenesian); introduction to “dynamics.”
Economics 105-106. Economic Analysis
Professor [Gary] Becker. (3) Tu Thu 11.
Prerequisite: the instructor’s permission. The course may be taken only for E credit.
Topics noted under Economics 101-102, treated at a more advanced level.
Source: The Graduate Faculties 1959-1960 in the Columbia University Bulletin, Series 59, Number 19 (May 9, 1959), p. 40.
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Reading list for Hart and Wonnacott
ECONOMICS 101
AUTUMN 1959
Meetings:
Regular: M.W., 11 AM: 710 Business
Third hour (Rooms to be arranged):
(1) Th. 10 AM
(2) Th. 1 PM
Instructors:
A.G. Hart, 503 Fayerweather
P. [Paul] Wonnacott, 513 Fayerweather
For “reverse section” starting January 1960: W. Vickrey
Textbooks:
- Each member of the course should own one of the following texts, and arrange loans back and forth with other students:
A. W. Stonier & D.C. Hague, Textbook of Economic Theory (2d ed., London, Longmans Green, 1957)
Chapters 1-8 are first-semester material.
G.J. Stigler, Theory of Price (Revised ed., New York, Macmillan, 1952)
Chapters 1-10 and 12 are first-semester material.
K.E. Boulding, Economic Analysis (3rd ed., New York, Harper, 1955)
Chapters 26-29 and 36 are first-semester material.
- An optional item is the mimeographed BASIC MATHEMATICS OF ECONOMIC QUANTITIES (Economics Department office, $1.00).
- In addition, each student’s working library should come to include some of the following:
J.M. Henderson and R.E. Quandt, Microeconomic Theory (New York: McGraw-Hill, 1958): mathematical.
J.R. Hicks, Value and Capital (Oxford: Clarendon Press; 2nd ed. 1946)
A. Marshall, Principles of Economics (8th ed., London: Macmillan, 1920)
G.J. Stigler & K.E. Boulding, Readings in Price Theory (Chicago: Irwin, 1952)
* * * * * * * * * * * * * * *
AGH/PW/8/27/59
[Economics] 101
Autumn 1959
INTRODUCTION
Sept. 28, 30. LOGIC OF SUPPLY-AND-DEMAND MODELS
Stonier & Hague, ch. 1-2 (pp. 9-33).
Stigler, ch. 1-2 (pp. 1-19).
E.J. Working, “What Do Statistical ‘Demand Curves’ Show?” in Readings in Price Theory, pp. 97-115.
ad lib. Henderson & Quandt, ch. 1 (pp. 1-5).
Oct. 2. Math short course: Quantitative concepts and their dimensions.
THE FIRM AND THE MARSHALLIAN INDUSTRY
Oct. 5, 7. SHORT-RUN AND LONG-RUN COST CURVES AND THE FIRM’S SUPPLY SCHEDULE
l Stonier & Hague, ch. 5 (pp. 87-122).
Stigler, ch. 7-8 (pp. 111-146); note that discussion is intermingled with that of the next topic.
Boulding, ch. 27 (note references to preceding chapters which have not been discussed in this course).
* * * * * * * * * *
J. Viner, “Cost Curves and Supply Curves” in Readings in Price Theory, pp. 198-232.
H. Staehle, “Measurement of Statistical Cost Functions” in Readings in Price Theory, pp. 264-79.
Oct. 9. Math short course: Charts, tables and functions.
Oct. 12, 14. THEORY OF PRODUCTION.
l Stonier & Hague, ch. 10 (pp. 210-31).
Stigler, ch. 6 (pp. 96-110: completes production-cost-and-supply discussion).
Boulding, ch. 28 (pp. 585-604).
* * * * * * * * * *
Marshall, Book IV, ch. 13 (pp. 314-22).
H.S. Ellis & W. Fellner, “External Economies and Diseconomies” in Readings in Price Theory, pp. 242-63.
ad lib. Henderson & Quandt, ch. 3 (pp. 42-84).
Oct. 16. Math short course: Simple analytical networks.
Oct. 19, 21. COMPETITIVE EQUILIBRIUM.
l Stonier & Hague, ch. 6-7 (pp. 123-61).
Stigler, ch. 9-10 (pp. 148-86).
Oct. 23. Math short course: Maxima and derivatives.
Oct. 26, 28. COMPETITIVE EQUILIBRIUM, continued.
Marshall, Book V, ch. 1-5 (pp. 323-80).
ad lib. Henderson & Quandt, ch. 4 (pp. 85-125).
Oct. 30. Math short course: Maxima and derivatives, continued.
Nov. 2,4. MONOPOLY.
l Stonier & Hague, ch. 8 (pp. 162-81).
Stigler, ch. 12 (pp. 204-21).
Boulding, ch. 29 (pp. 605-27).
* * * * * * * * * *
Marshall, bk. V, ch. 14 (pp. 477-95).
Chamberlin, ch. 1-2 (pp. 3-29).
Robinson, ch. 3 (pp. 47-59: note references to preceding chapter on “the geometry”).
Robinson, ch. 15-16 (pp. 179-208).
ad lib. J.R. Hicks, “Theory of Monopoly” in Readings in Price Theory, pp. 361-83.
Nov. 6. Math short course: compound analytical networks.
Nov. 9, 11. HORIZONTAL AND VERTICAL LINKAGES OF MARKETS.
Marshall, Book V, ch. 6 (pp. 381-93).
Nov. 16. “MARGINALISM” AND THE FIRM.
R.L. Halland & C.J. Hitch, “Price Theory & Business Behavior” in T. Wilson (ed.) Oxford Studies in the Price Mechanism, pp. 107-38.
F. Machlup, “Marginal Analysis and Empirical Research”, American Economic Review, Sept. 1946 (pp. 521-54).
Nov. 18. Midterm hour exam.
THE HOUSEHOLD, AND MARKETS INVOLVING CONSUMERS.
Nov. 23, 25, 30. PREFERENCE AND UTILITY.
Stonier & Hague, ch. 2-4 (pp. 34-86).
Stigler, ch. 5 (pp. 68-93).
Boulding, ch. 32 (pp. 680-701), 36 (pp. 787-809).
Hicks, Value & Capital, ch. 1-2 (pp. 11-37).
Marshall, Book 3, ch. 1-5 (pp. 83-123).
ad lib. Henderson & Quandt, ch. 2 (pp. 6-41).
ad lib. S.W. Rousseas and A.G. Hart, “Experimental Verification of a Composite Indifference Map”, Journal of Political Economy, Aug. 1951 (pp. 288-318).
Dec. 2, 7, 9. INDIVIDUAL AND MARKET DEMAND FUNCTIONS.
Stigler, ch. 4 (pp. 42-66).
Hicks, Value & Capital, ch. 3 (pp. 42-52).
J.S. Duesenberry, Income, Saving and the Theory of Consumer Behavior, ch. 5 (pp. 69-92); ad lib. ch. 2 (pp. 6-16), 6 (pp. 93-110).
Dec. 16, 18. CONSUMER SURPLUS & INDEX NUMBERS.
Marshall, Book III, ch. 6 (pp. 124-37).
Hicks, Value & Capital, pp. 38-41.
Hicks, Revision of Demand Theory, pp. 95-106.
A.P. Lerner, “Note on the Theory of Price Index Numbers” in Essays in Economic Analysis (pp. 152-63).
Source: Columbia University Rare Book & Manuscript Library. William Vickrey Papers, Box 35. Folder 630, “Columbia/Economics 101 Course 1954-1959, n.d.”
Image Source: Alma Mater, Columbia University. Columbia College Today, Winter 2017-18.