In the previous post we have the syllabus for the summer course Economics 150 (Economic Theory) taught by James S. Earley in 1940. It is interesting to compare that syllabus with the reading assignments transcribed below for the same course as taught by Milton Friedman at the University of Wisconsin sometime during the academic year 1940-41 when Earley was on leave from the university. We see significant overlap but there are differences (e.g. Smith and Mill were added by Friedman). It is also interesting to compare this to the course “The Structure of Neoclassical Economics” taught by Milton Friedman in 1939-40 at Columbia.
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Reading Assignments in Economics 150
Instructor: Milton Friedman
*Recommended but not required.
Alfred Marshall, Principles of Economics, Book III, ch. 2, 3, 4; Book V, ch. 1, 2.
F. H. Knight, Risk, Uncertainty and Profit, ch. 3.
Frederic Benham, Economics, pp. 89-100.
*J. R. Hicks, Value and Capital, pp. 11-37.
Marshall, Book V, ch. 3, 4, 5, 12, Appendix H.
A. L. Meyers, Elements of Modern Economics, ch. 5, 7, 8, 9.
Joan Robinson, Economics of Imperfect Competition, ch. 2.
J. M. Clark, The Economics of Overhead Cost, ch. 9.
Jacob Viner, “Cost Curves and Supply Curves”, Zeitschrift fuer Nationaloekonomie, Bd. III (Sept., 1931), pp. 23-46 (in English)..
Edward Chamberlin, The Theory of Monopolistic Competition, Ch. 3, sec. 1, 4, 5, 6; ch. 5.
*M. Abramovitz, “Monopolistic Selling in a Changing Economy”, Q.J.E., Feb., 1938, pp. 191-214.
R. F. Harrod, “Doctrines of Imperfect Competition”, Q.J.E., May 1934 sec. 1, pp. 442-61.
Marshall, Book V, ch. 6.
J. B. Clark, The Distribution of Wealth, Preface, ch. 1, 7, 8, 11, 12, 13, 23.
John Stuart Mill, Principles of Political Economy, Book II, ch. 14.
J. R. Hicks, Theory of Wages, ch. 1-6.
Adam Smith, The Wealth of Nations, Book I, ch. 10.
Marshall, Book VI, ch. 1-5.
Simon Kuznets and Milton Friedman, “Incomes from Independent Professional Practice”, Bulletin 72-3, National Bureau of Economic Research, sec. 5, appendix.
F. H. Knight, “Interest,” in Encyclopedia of the Social Sciences, also in Ethics of Competition.
J. M. Keynes. General Theory of Employment, Interest and Money., ch. 11-14.
Source: Hoover Institution Archives. Papers of Milton Friedman. Box 76, Folder 6 “University of Chicago Econ. 150 [sic, “University of Wisconsin 1940-41” is correct].
Image Source: Columbia University, Columbia 250 Celebrates Columbians Ahead of Their Time.