Over the past few days Economics in the Rear-view Mirror has posted comprehensive undergraduate economics exams around 1930 from Harvard, Princeton, and Swarthmore. Today I add an economics comprehensive exam from Wesleyan University to round out this cross-section.
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Comprehensive Examination in Economics
Wesleyan University, 1931
Part I
(Two hours)
Answer TWO of the following questions.
- Snowden of the British Exchequer in explaining his land value tax proposal in the House of Commons, on May 4, 1931, said:
“By this measure we assert the right of the community to ownership of the land. If private individuals continue to possess a nominal claim to land they must pay a rate to the community for the enjoyment of it. They can not be permitted to enjoy the privilege to the detriment of the community.
“Land differs from all other commodities in various respects. Land was given to us by the Creator, not for the private use of the dukes but for the equal use by all His children. Restriction of freedom in the use of land is a restriction on human liberty.
“To restrict the use of land by arbitrary will, the owner enhances its price, raises rents, hampers industry and prevents municipal development and the increase of amenities. Every increase in population, every expansion in industry, every scientific development, every improvement in transportation, every child that is born, increases the rent of land. Rent enters into the price of every article produced, into the cost of every public service.”
What economic principles are involved in the above analysis? What was the position of the classical economists with reference to the various problems involved?
To what extent do you agree with Mr. Snowden’s analysis and what are the reasons that contribute to your present conviction?
- Write a brief essay on the subject “Laissez Faire in Economic Theory: Its Past Significance and Its Applicability to the Present American Economic Order.”
In your essay show how economists of the past regarded laissez faire, the reasons for their attitude, and the adequacy of this philosophy for the problems of the present. - What is the basis for the assertion that we have an acquisitive society? Indicate the strong and the weak points of such a society. Outline in general terms, the nature of a so-called functional society. Present the case for and against such a social order.
Indicate your conclusion as to the relative merits of these two types of societies as applied to past eras and as applied to the present period. - (a) Enumerate and describe each of the important wage theories that has been suggested in the evolution of classical economic doctrines.
(b) Indicate what wage theories were held by each of the authors you have studied and explain why he advocated the theory in question.
(c) What do you regard as valid and what invalid in all these wage theories? Present and defend your own explanation for the general wage level.
Part II
(Two and one-half hours)
Answer THREE of the following questions.
- (a) What are the causes of the present economic depression in the United States and the rest of the world?
(b) What agencies, if rightly directed, can contribute toward the elimination of business fluctuations? Explain in what manner and to what extent each of these agencies may be expected to assist.
- Contrast Russia and the United States at the present time as to the organization of economic institutions, the direction of production and the distribution of wealth.
Give and explain your opinion as to the relative merits of the two systems. - Compare the conditions of farming and industry that make for a special agricultural problem in the United States.
Evaluate the measures that have been suggested for the solution of this problem. - The Labor Government is in power in Great Britain. A collectivist system supported by the industrial wage earner exists in Russia while organized labor in the United States is relatively weak and ineffective. Discuss and explain these contrasts.
- (a) The late President Hadley believed that public utilities should be subjected to no more regulation than any private enterprise. Can you suggest any arguments in support of such a position? What are the arguments on the other side?
(b) What do you consider necessary as a means of insuring adequate regulation of public utilities and how would you proceed to the attainment of this objective.
Outline in detail some of the things that you would prescribe.
(Each student will be examined orally as per schedule already announced.)
- [The consumer pays $10 for a given goods. Four of the $10 go to the manufacturer. What important economic problems are suggested by this situation? Indicate and defend a program for meeting these problems.]
[Note: question 6 of part II of this exam was not included followed by the note “Question presented elsewhere”. In the list of 65 selected questions for review in the cited source below, there was a single optional 50 minute question. I have included that question in square brackets above, but this represents only an educated guess on my part.]
Source: Edward S. Jones. Comprehensive Examinations in the Social Sciences, Supplement to the December, 1933 Bulletin of the Association of American Colleges,pp. 36-38.
Image Source: Olin Memorial Library at Wesleyan University, built in 1925-27 and dedicated in 1928. From Wikipedia entry “Wesleyan University”.