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Chicago Courses Syllabus

Chicago. Graduate Price Theory. Economics 300A. Harberger, 1955

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Thus far Economics in the Rear-View Mirror has been able to provide syllabi for the following four professors who had taught the first core price theory course at the University of Chicago spanning nearly a quarter of a decade during the middle third of the 20th century:

Today I add the syllabus for Arnold Harberger (a.k.a.”Triangle Man”, see the photo credit below). Note: chapters from Samuelson’s Foundations are only recommended readings, not yet required.

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Economics 300A
Mr. Harberger
Autumn 1955

 

Texts:

  1. Alfred Marshall, Principles of Economics, 8th
  2. George Stigler, Theory of Price, revised ed.
  3. H. Knight, The Economic Organization

 

Supplementary material (Purchase not required):

  1. American Economic Association, Readings in Price Theory
  2. Milton Friedman, Essays in Positive Economics
  3. Milton Friedman, Notes on Lectures in Price Theory (mimeographed)

Students are expected to be familiar with the materials in Stigler’s Theory of Price before entering the course. Readings marked with an asterisk (*) are recommended, not required.

 

Reading List

 

  1. Introduction:

Knight, The Economic Organization, pp. 1-37
Stigler, Theory of Price, Chs. 1-3
Friedman, “The Methodology of Positive Economics” in Essays in Positive Economics

  1. Demand:

Stigler, Theory of Price, Chs. 4-5
Marshall, Book III, Chs. 2-4, Book V, Chs. 1-2
Knight, Risk, Uncertainty and Profit, Ch. 3
Hicks, Value and Capital, pp. 11-52
Working, “What do Statistical Demand Curves Show?” Quarterly Journal of Economics
*Samuelson, Foundations of Economic Analysis, Ch. 5

  1. Supply:

Stigler, Theory of Price, Chs. 6-8
Marshall, Book V, Chs. 3-5, 12, Appendix H
Robinson, Joan, Economics of Imperfect Competition, Ch. 2
Clark, J.M., Economics of Overhead Costs, Ch. 9
Viner, “Cost Curves and Supply Curves”, Zeitschrift fuer Nationaloekonomie, Book III (Sept 1931) pp. 23-46, reprinted in Readings in Price Theory, pp. 198-232
*Samuelson, Foundations of Economic Analysis, Ch. 4

  1. Market Organization:

Stigler, Theory of Price, Chs. 9-13
Stigler, “Monopolistic Competition in Retrospect” in Five Lectures on Economic Problems
Harrod, “Doctrines of Imperfect Competition”, Quarterly Journal of Economics, May 1934, pp. 442-461
Chamberlin, The Theory of Monopolistic Competition, Chs. 3, 5
*Robinson, E.A.G., The Structure of Competitive Industry
*Robinson, E.A.G., Monopoly.

  1. Utility and Welfare Economics:

Alchian, “The Meaning of Utility Measurement”, American Economic Review, March 1953, pp. 26-50
Friedman and Savage, “The Utility Analysis of Choices Involving Risk”, Journal of Political Economy, August 1948, pp. 279-304. Reprinted in Readings in Price Theory, pp. 57-96
Scitovsky, “The State of Welfare Economics”, American Economic Review, June 1951, pp. 303-315
Hicks, “The Four Consumers’ Surpluses”, Review of Economic Studies, XI (1943-44), pp. 31-40
*Hotelling, “The General Welfare in Relation to Problems of Taxation and of Railway and Utility Rates,” Econometrica (VI) (1938), pp. 242-269
*Samuelson, Foundations of Economic Analysis, Chs. 5-7

 

Source: Hoover Institution Archives. Papers of Milton Friedman, Box 77, Folder “77.1 University of Chicago Econ 300 A & B”.

Image Source: “[Arnold] Harberger strips down to reveal himself as “Triangleman” at the University of Chicago Economics Christmas Party, probably December 1970”. Robert J. Gordon’s website.