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In preparing the previous post that transcribed the honours examination for money, credit and prices at the University of Toronto in 1933, I discovered that the annual calendar of the University provided an excellent overview of the economics curriculum that included short course descriptions along with brief reference bibliographies for each of the courses. This falls short of having detailed course syllabi with precise reading assignments and lecture notes but it does have the virtue of wall-to-wall coverage of the economics curriculum at the time.
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Economics course requirements in the Honour Course for Political Science and Economics 1932-33
FIRST YEAR
|
Hours |
|
| Economics 1a. A General Sketch of Economic History. |
3 |
| Economics 1h. An Introduction to Economics. |
2 |
SECOND YEAR
|
Hours |
|
| Economics 2e. Principles of Economics. |
3 |
| Economics 2f. Structure of Modern Industry. |
3 |
| Economics 2g. Statistics. |
3 |
THIRD YEAR
|
Hours |
|
| Economics 3d. Labour Problems. |
3 |
| Economics 3e. Money, Credit and Prices. |
3 |
| Economics 3g. Taxation and public finance. |
3 |
| Economics 3h. Banking. |
1 |
FOURTH YEAR
|
Hours |
|
| Economics 4e. Advanced Economic Theory. |
3 |
| Economics 4f. Economic History of Canada and the United States. |
3 |
|
Choose one* of: |
|
| Economics 4h. Corporation Finance. |
2 |
| Economics 4i. International Financial and Trade Policies. |
3 |
| Economics 4j. The Diagnosis of Business Conditions. |
2 |
| Economics 4k. Transportation. |
3 |
| Economics 4l. Advanced Economic Geography. |
2 |
| Economics 4m. Economics of Mineral Products. |
2 |
| Economics 4n. Rural Economics. |
2 |
| Economics 4o. Demography |
2 |
*Each student will also do special work in one of the honour subjects. This special work will count for purposes of standing as an additional subject in the course. The choice of the subject in which such special work is to be done must be made not later than the last day of October; and the written work involved must be concluded by the student not later than the last day of the following February.
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POLITICAL SCIENCE AND
COMMERCE AND FINANCE
E. J. Urwick, M.A. Professor of Economics
W. T. Jackman, M.A. Professor of Transportation
G. E. Jackson, B.A. Professor and Supervisor of Studies for the course in Commerce and Finance
W. S. Ferguson, C.A. Professor of Accounting (part-time)
H. A. Innis, M.A., Ph.D. Associate Professor
H. R. Kemp, M.A. Associate Professor
A. Brady, M.A., Ph.D. Associate Professor
V. W. Bladen, M.A. Assistant Professor
W. M. Drummond, M.A. Assistant Professor
L. T. Morgan, M.A., Ph.D. Assistant Professor
F. R. Crocombe, M.A., C.A. Assistant Professor of Accounting
C. A. Ashley, B.Com., A. C.A. Assistant Professor of Accounting
J. G. Perold, M.A., B.D. Lecturer
J. F. Parkinson, B.Com. Lecturer
Miss I. M. Biss, M.A. Lecturer
D. C. MacGregor, B.A. Lecturer
A. F. W. Plumptre, B.A. Lecturer
O. P. N. Van der Sprenkel, B.Sc. Lecturer
A. E. Grauer, B.A., Ph. D. Lecturer
A. J. Glazebrook Special Lecturer in Banking and Finance
D, W. Buchanan, B.A. Assistant
J. A. Trites, B.A. Assistant
ECONOMICS
Pass Courses
1a. A General Sketch of Economic History. For reference: Ashley, Economic Organization of England; Cheyney, Industrial and Social History of England; Knowles, Industrial and Commercial Revolutions. Three hours a week.
1b. The same as 2a.
1c. Organization of industry. A description of modern Industrial society, with emphasis on large-scale business enterprise, labour organization, and unemployment. For reference: Robertson, Control of Industry; The Engineers’ Report on Waste in Industry; Cole, An Introduction to Trade Unionism; Annual Report of the Department of Labour (Ottawa) on Labour Organization in Canada. National Bureau of Economic Research, Recent Economic Changes; Liberal Committee of Enquiry, Britain’s Industrial Future. Two hours a week.
1d. Social Science. Historical outline of the extension of man’s power over nature, and the development of social forms. For reference: Marett, Anthropology; Mueller-Lyer, History of Social Development; Goldenweiser, Early Civilization; Davis et al, Introduction to Sociology; MacIver, Community. One and a half hours a week.
1e. The Industrial Revolution. One hour a week.
2a. Introduction to the Study of Economics. The elements of economic theory with some account of contemporary economic institutions. For reference: Ely, Outlines of Economics; Atkins et al, Economic Behaviour, An Institutional Approach; Fairchild and Compton, Economic Problems; Clay, Economics for the General Reader; Robertson, Money; Henderson, Supply and Demand; Carver, The Distribution of Wealth; Slichter, Modern Economic Society. Two hours a week.
2b. Economic Theory. For reference: Adam Smith, Wealth of Nations; Malthus, Essay on Population; Ricardo, Political Economy; Mill, Principles of Political Economy; Cannan, Theories of Production and Distribution; Marx and Engels, The Communist Manifesto; Gide and Rist, History of Economic Doctrines; Davenport, Value and Distribution; Levinsky, The Founders of Political Economy; Carr-Saunders, Population; Spargo, Socialism; Bastable, Public Finance; Stamp, Principles of Taxation; Seligman, Essays in Taxation. Three hours a week.
2c. Commerce of Nations. A course dealing with the characteristics of foreign trade and with the theories of international trade and prices: currency systems, money, and banking in relation to price fluctuations, the balance of international payments, the foreign exchanges, capital movements; statistical aspects of foreign trade; the relations of the state to foreign trade, commercial policies and the tariff, etc.; the organization of foreign trade, the functions of produce exchanges, financial institutions, transportation agencies. Foreign trade trends and problems of the leading countries. For reference: Taussig, International Trade, Some Aspects of the Tariff Question; Marshall, Money, Credit and Commerce; Bastable, Commerce of Nations, Theory of International Trade; Todd, The Mechanism of Exchange; Viner, Canada’s Balance of International Payments; Laureys, Foreign Trade of Canada; Kirkaldy and Evans, The History and Economics of Transport, etc. Two hours a week.
2d. The Industrial Revolution. For students in English and History, and Philosophy (English or History Option), etc. For reference: Ashley, Economic Organization of England; Fay, Great Britain from Adam Smith to the Present Day; Knowles, Industrial and Commercial Revolutions in Great Britain during the Nineteenth Century; other works dealing with the more important trends in modern industry. One hour a week.
3a. The same as 2a.
3b. The same as 2b.
3c. The same as 2c.
4a. Economic History. The Economic History of Great Britain with some reference to the economic development of the Dominions. For reference: Ashley, The Economic Organization of England; Knowles and Knowles, The Economic Development of the British Overseas Empire; Cheyney, Industrial and Social History of England; Fay, Great Britain from Adam Smith to the Present Day; Knight, Barnes and Flugel, Economic History of Europe; Knowles, Industrial and Commercial Revolutions in Great Britain during the seventeenth century. Three hours a week.
4b, Finance of Government. Commencing with a theoretical analysis of the dispersion of taxation and other burdens among the agents of production, followed by a study of the canons of taxation, the growth of modern progressive taxation, various tax systems, the conflict of federal, provincial and local tax jurisdictions, non-fiscal aspects of taxation, and the history and significance of public borrowing and expenditure in modern capitalism. For reference: same as 3g. Two hours a week.
4c. Finance of Industry and Commerce. Money and credit; foreign trade; corporation finance. For reference: Day, Money and Banking System of U.S.; Beckhart, Canadian Banking System; Withers, War and Lombard Street; Stocks and Shares; Business of Finance; Royal Bank, Financing Foreign Trade; Dominion and Ontario Companies’ Acts. Two hours a week.
4d. Elements of Statistics. An elementary course in statistical methods and their application to economic problems. Laboratory work will be required. For reference: Elderton, Primer of Statistics; Thurstone, Fundamentals of Statistics; Secrist, Introduction to Statistical Methods; Canada Year Book; Labour Gazette and other publications. Three hours a week.
Honour Courses
1f. Economic History. Economic History with special reference to British development from 1760 onwards, based on Ashley, Economic Organization of England; Mantoux, Industrial Revolution in the Eighteenth Century; Knight, Barnes and Flugel, Economic History of Europe; Knowles, Industrial and Commercial Revolutions. For references: Fay, Great Britain from Adam Smith to the Present Day, Life and Labour in the Nineteenth Century; Hammond, Lord Shaftesbury, The Town Labourer; Buxton, Finance and Politics; Rees, Fiscal and Financial History of England, 1815-1918; Prothero, English Farming, Past and Present; Jackman, Transportation in Modern England; Dicey, Law and Opinion in England. Three hours a week.
1g. Geography. A general introduction to economic geography; temperature, wind systems, and rainfall; influences on economic enterprise and on migration; relation of the Old World to the New; seaports and trade routes; food supplies and population. For reference: Huntington and Gushing, Principles of Human Geography; Huntington and Carlson, Environmental Basis of Social Geography; Russell Smith, North America; Lyde, The Continent of Europe; Bartholomew and Lyde, The Oxford Economic Atlas and Supplement (1914); Corrado Gini and others, Population; The Canada Year Book; and other publications of Government Departments. Two hours a week.
1h. An Introduction to Economics. For students in Modern History, Political Science and Economics, and Law. A survey of the forces governing the production and consumption of wealth and of the character and development of the existing economic system. For reference: Cannan, Wealth; Thorp, Economic Institutions; Clay, Economics for the General Reader; Robertson, Control of Industry; Mueller-Lyer, The History of Social Development. Two hours a week.
2e. Principles of Economics. An explanation of economic theory, based chiefly upon Marshall, Principles of Economics and Cassel, Theory of Social Economy. For reference: Carver, Distribution of Wealth; Smart, Distribution of Income; Taussig, Principles of Economics; Withers, The Meaning of Money; Wright, Population. Three hours a week.
2f. Structure of Modern Industry. A description of some important characteristics of modern industry, as a basis for understanding the pure theory of economics and discovering some of its limitations. For reference: Marshall, Industry and Trade; Laidler, Concentration in American Industry; Clark, Economics of Overhead Costs, and Social Control of Business; Holmes, Economics of Farm Organization and Management; Taylor, Scientific Management; Bogert and Landon, Modern Industry; Reports of special Government investigators under the Combines Investigation Act; Sittings, Canadian Advisory Board on Tariff and Taxation; Wilmore, Industrial Britain; Kieger and May, The Public Control of Business; Watkins, Industrial Combinations and Public Policy; Jones, Trust Problems in the United States; Domeratzky, International Cartels; Robertson, Control of Industry; Patton, Co-operative Marketing of Grain in Western Canada; Canada Year Book, etc. Three hours a week.
2g. Statistics. General introduction to the use of statistics; methods of collection, tabulation, graphic presentation, analysis, and interpretation, and application to the study of business cycles, population, and other economic problems. Survey of some of the principal sources of statistical information. A considerable part of the course will be devoted to laboratory work. For reference: Mills, Statistical Methods; Secrist, An Introduction to Statistical Methods; Crum and Patton, Economic Statistics; Chaddock, Principles and Methods of Statistics; Yule, Introduction to the Theory of Statistics; Bowley, Introductory Manual of Statistics, and Elements of Statistics; Fisher, Making of Index Numbers; Mitchell, Index Numbers of Wholesale Prices in the United States and Foreign Countries (Bulletin 284 of U.S. Bureau of Labour Statistics); Labour Gazette (Ottawa); Canada Year Book, Census Reports (Canada, Great Britain, U.S.A.), publications of the Royal Statistical Society and of the American Statistical Association, and other publications to be indicated from time to time. Three hours a week.
3d. Labour Problems. A course dealing with the problems and disabilities of labouring people such as unemployment, industrial accident and disease, overstrain, monotony, and low wages and standards of living; with workingmen’s efforts to solve these problems through trade unionism, consumers’ co-operation, political action, and social revolutionary programmes; with employers’ methods of meeting the problems of labour; and with intervention by the state in the interests of labour through protective legislation. For reference: Douglas, Hitchcock and Atkins, The Worker in Modern Economic Society; Blum, Labour Economics; Douglas, The Problem of Unemployment; Hamilton and May, The Control of Wages; Webb, Industrial Democracy; Stewart, Canadian Labour Laws and the Treaty; Canadian Department of Labour, The Labour Gazette (monthly) and Annual Reports on Labour Organization in Canada. Three hours a week.
3e. Money, Credit and Prices. A course dealing with monetary theory and related subjects, including the discussion of the rôle of money in economic theory; bimetallism; the gold standard; the gold exchange standard; the relation between money, credit, production and prices; the business cycle; central banks and the control of credit; stabilization of business; the foreign exchanges; the rôle of money in the theory of international trade; money and foreign exchange; problems in various countries, including reparations. For reference: Cassel, Theory of Social Economy, Vol.II, and Money and Foreign Exchange after 1914; Fisher, The Purchasing Power of Money; Keynes, A Treatise on Money; Marshall, Money Credit and Commerce; Edie, Money, Bank Credit and Prices; Willis and Beckhart, Foreign Banking Systems; Burgess, Interpretations of the Federal Reserve Bank; Mitchell, Business Cycles, the Problem, and its Setting; Snyder, Business Cycles and Business Measurements; Hobson, Rationalization and Unemployment; Gregory, Foreign Exchange; Taussig, International Trade; Angell, International Prices; The Young Plan; Reports of Agent General for Reparations; Reports of League of Nations Gold Delegation; The Macmillan Report, 1931; Current Financial Literature. Three hours a week.
3f. The same as 2g.
3g. Part I. The Distribution of Taxation. Based upon an extension, application and criticism of the theory of the distribution of wealth. For reference: Smith and Ricardo on taxation; Seligman, Incidence of Taxation, Essays in Taxation; Report of the Committee on National Debt and Taxation, G. B. 1927; J. A. Hobson, The Industrial System, Taxation in the New State; Pigou, Public Finance; H. G. Brown, Economics of Taxation; Silverman, Taxation — Its Incidence and Effects.
Part II. Principles of Public Finance. Economic functions of the state, the canons of taxation, revenue systems of modern states, national and local taxation, public debts, expenditure, the public domain. For reference: Bastable, Public Finance; Lutz, Public Finance; Shirras, Science of Public Finance; Bullock, Readings in Public Finance. In addition, monographs, periodicals and statistical records will be found essential. For examination and essay purposes, the two parts of this course will be considered as one. Three hours a week.
3h. Banking. A special course on the theory and practice of banking operations. One hour a week.
3i. Business Administration. The same as 4g.
3j. Economic Basis of Social Life. A sketch of modern economic organization with particular reference to the way in which economic factors condition social life. The course includes description of the production process, the business system, the price system, group conflicts over income and status, and standards of living; appraisal of the functioning of the economic order; and brief inquiry into the problem of control. For reference: Lynd, Middletown; Soule, The Useful Art of Economics; Keezer, Cutler and Garfield, Problem Economics; Clay, Economics for the General Reader; Thorp, Economic Institutions; Robertson, The Control of Industry.
4e. Advanced Economic Theory. A course dealing with the evolution of economic thought through the principal schools from Adam Smith to the present, and giving special attention to the criticism of current theories of value, interest, rent and wages. For reference: Adam Smith, Wealth of Nations; Malthus, Essay on Population; Ricardo, Principles of Political Economy; List, National System of Political Economy; Marx, Capital; Böhm-Bawerk, The Positive Theory of Capital; J. B. Clark, Distribution of Wealth; Marshall, Principles of Economics; Pigou, Economics of Welfare; Cassel, Theory of Social Economy; Cannan, Review of Economic Theory, and Theories of Production and Distribution; Dalton, Inequalities of Incomes. Three hours a week.
4f. Economic History of Canada and the United States. The significance of economic factors in the growth of western civilization on the North American continent with special reference to Canada. For reference: Select Documents in Canadian Economic History, Vols. I, II, especially selected; bibliography, Vol. I, pp. 579-581, and The Fur Trade in Canada; An Introduction to Canadian Economic History; A History of the Canadian Pacific Railway (Toronto, 1923); Cambridge History of the British Empire (Vol. on Canada). L. C. A. Knowles and C. M. Knowles, Economic Development of the British Overseas Empire, Vol. II, bibliography. Contributions to Canadian Economics; Proceedings of the Canadian Political Science Association; economic history sections, Canada and its Provinces; C. R. Fay, The Corn Laws and Social England. Three hours a week.
4g. Business Administration. In each term throughout the session a course of special lectures on a selected field of Canadian finance or industry will be given by lecturers practically conversant with its problems. One hour a week.
4h. Corporation Finance. Economic service of corporations; capitalization; detailed study of stocks and bonds; financing of extensions and improvements; management of incomes and reserves; dividend policy; insolvency; receiverships; reorganizations. For reference: Poor’s Financial Service is unexcelled; Lincoln, Applied Business Finance, and Problems in Business Finance; Nelson, Readings in Corporation Finance; Mead, Corporation Finance; Willis and Bogen, Investment Banking; Sloan, Corporation Profits; Gerstenberg, Materials of Corporation Finance; Dewing, Corporation Finance. Two hours a week.
4i. International Financial and Trade Policies. The chief characteristics of world economic relationships in the post-war setting. Economic causes of international friction in the light of recent history. Economic consequences of the Peace Treaties; the Reparations Problem; Inter-Allied debts. Monetary reconstruction; currency and banking experiments; the Gold Standard to-day; the silver situation. Commercial policies of leading countries; the Tariff and economic nationalism; international collaboration and the economic section of the League of Nations. World capital movements; U.S.A. as a creditor nation; financial co-operation; the Young Plan and the Bank for International Settlements. Currency and Trade problems of the British Empire. For reference: Keynes, Economic Consequences of the Peace, Revision of the Treaty; Bergman, History of Reparations; Moulton, The Reparation Plan, Germany’s Capacity to Pay; Culbertson, Commercial Policy in war time and after; Dawes’ Report; The Young Plan; Einzig, The Bank for International Settlements; Rogers, The Process of Inflation in France; Reports and Documents of the Gold Delegation Committee of the League of Nations; Williams, Economic Foreign Policy of the United States, etc. Three hours a week.
4j. The Diagnosis of Business Conditions. A review of the functions of the consulting economist, and of the materials available to him; analysis and interpretation of time series, and consideration of underlying forces affecting the world’s credit. The course is conducted with special reference to the period from 1925 to the present. For reference: National Bureau of Economic Research, Recent Economic Changes; Persons and others, The Problem of Business Forecasting; Carl Snyder, Business Cycles and Business Measurements; Snider, Business Statistics; Persons, Forecasting Business Cycles; The MacMillan Report; League of Nations Report on The Course and Phases of the World Economic Depression; Canada Year Book; and Monthly Review of Business Statistics. Two hours a week.
4k. Transportation. Railway finance and rates; principles of rate making as established by the railways, the regulative tribunals and the courts; railway policy in Canada and the other chief countries; railway rate structures; organization of ocean commerce; ocean freight rates; shipping conferences and their results; relations of ocean and land transportation interests; inland water transportation; highway transportation. For reference: Poor’s Financial Service; Jackman, Economics of Transportation; Daggett, Principles of Inland Transportation; Vanderblue and Burgess, Railroads; Rates-Service- Management; Jones, Principles of Railway Transportation; Kidd, A New Era for British Railways; Johnson and Huebner, Principles of Ocean Transportation. Three hours a week.
4l. Advanced Economic Geography. A seminar course dealing with probable changes in the near future in the direction and character of the world’s trade. Bowman, The New World (New York, 1928); J. Brunhes, Human Geography; Vidal de la Blache, Principles of Human Geography; J. M. Clark, Economics of Overhead Costs; H. Laureys, Foreign Trade of Canada (bibliography); W. J. Donald, Canadian Iron and Steel Industry; J. Viner, Canada’s Balance of International Indebtedness; W. W. Swanson and P. C. Armstrong, Wheat; E. S. Moore, Mineral Resources of Canada; W. T. Jackman, Economics of Transportation; H. A. Innis, Fur Trade of Canada; J. A. Todd, World’s Cotton Crops; C. Jones. Commerce of South America; Commission of Conservation, reports; Report of the Royal Commission on Pulpwood, 1924; Report of the Royal Commission on Maritime Fisheries, 1928; National Problems of Canada, McGill University Studies; R. Tanghe, Geographie Humaine de Montreal (Montreal, 1928), and other books to be referred to throughout the course. Two hours a week.
4m. Economics of Mineral Products. A study of mineral resources and the rôle played by them in commerce and industry, with special reference to the minerals of Canada and their use in Canadian industry. (Course 22, Department of Geology, page 171). For reference: Leith, Economic Aspects of Geology; Spurr, Political and Commercial Geology; Moore, Mineral Resources of Canada; McGraw-Hill, Mineral Industry; Moore, Coal; Tarr, Introductory Economic Geology. Two hours a week.
4n. Rural Economics. A course designed to study, first, the nature and extent of the relationship existing between satisfactory economic conditions in agriculture and satisfactory conditions in all other industrial and commercial pursuits and in the life of the community; second, the possibilities of and limitations to applying economic principles in the internal and external organization and operations of the agricultural industry. For reference: Black, Production Economics and Agricultural Reform in the United States; Holmes, Economics of Farm Organization and Management; Garratt, Organization of Farming; McMillan, Too Many Farmers; Bennet, Farm Costs; Warren and Pierson, Interrelationships of Supply, Demand and Price; Stokdyk and West, The Farm Board; Hedden, How Great Cities are Fed; MacIntosh, Agricultural Co-operation in Western Canada; Canadian and United States University and Government Publications in the field of agricultural economics. Two hours a week.
4o. Demography. The statistical study of population, including vital statistics, census procedure, and a more advanced study of the problems arising out of these materials, with special reference to Canada. Two hours a week.
4p. Industry and Human Welfare. Work and working conditions in industry and agriculture and reactions upon the lives of the workers. The wage system and the importance of the job to the individual. The problems of unemployment, industrial accident and disease, woman and child labour, overstrain and superannuation, monotony, and industrial and social status of the workers. Labour on the farm. Group efforts to improve conditions, as by trade unionism, producers’ and consumers’ co-operation, and political action. Governmental protection of standards of work and life. For reference: Catlin, The Labour Problem; Douglas, The Problem of Unemployment; Davison, The Unemployed; Hamilton and May, The Control of Wages; Cole, A Short History of the British Working Class Movement; Tawney, Acquisitive Society; Laidler, History of Socialism.
4g. Social History. An analysis of the reactions of economic and cultural changes upon social life and structure, with special reference to the history of Europe since 1349. The course includes an account of the genesis of present social conditions and social difficulties, and a detailed study of remedial and preventive measures, both public and private, and of the principles underlying these. Books: Vinogradoff, The Manor; Nicholls and MacKay, History of the English Poor Laws; Ribton Turner, History of Vagrancy; Penty, A Guildsman’s Interpretation of History; Tawney, Religion and the Rise of Capitalism; Lecky, England in the 18th Century; Eden, The State of the Poor; Cobbett, Rural Rides; Hayes, Political and Social History of Modern Europe; Reports of the Poor Law Commissioners, 1834 and 1909; Webb, History of Trade Unionism; Kirkman Gray, History of Philanthropy; Cooke Taylor, The Factory System; Cole, History of the Working Class Movement; Traill, Social England, Vols. V and VI; Hammond, The Agricultural Labourer, and the Town Labourer; Cole, Life of Owen; Hammond, Life of Shaftesbury.
Source: University of Toronto Calendar, Faculty of Arts 1932-1933. University of Toronto Press, 1932. Pp. 108-116, 206-208.
Image Source: The Library, University of Toronto (September 1939). Archives and Record Management, University of Toronto.