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Princeton. Money and Banking Syllabus. F.W. Fetter, 1933-34


Today’s posting takes us to the money and banking course at Princeton taught by Frank W. Fetter in the first semester of the 1933-34 academic year. The course outline along with the reading assignments come from his papers at Duke’s Economists’ Papers Archive. I have tracked down the assignments and have provided links where I have found them. What I particularly like about this course syllabus is that the reading assignments appear to be feasible, i.e. real and not nominal.


List of Lectures, 1933-34
Economics 401 – Money and Banking

A. Money

  1. Nature and Evolution of Money
  2. Functions and Qualities of Money
  3. Characteristics of an Ideal Monetary System
  4. Credit (in general) and Commercial Bank Credit as Money
  5. The Value of Money
    1. The Quantity Theory
    2. Other Theories
    3. Synthesis
  6. Monetary History
    1. General
    2. In the United States
  7. Price Movements and their Consequences
  8. Foreign Exchange
  9. Monetary Standards
    1. The Gold Standard
    2. The Silver Standard
    3. Bimetallism
    4. Paper Standards
    5. The Tabular Standard

B. Banking

  1. Financial Institutions
  2. Commercial Banking
    1. Theory
    2. Social Effects
    3. Structure
    4. Federal Reserve System
    5. Branch Banking

C. Monetary and Banking Policy in Relation to Business Stability

  1. The Banks, the Money Market, and the Stock Exchange
  2. Banking and the Business Cycle

D. Monetary and Banking Reform

  1. Monetary Reform
  2. Banking Reform
  3. General Conclusions


Assignments in Money and Banking

Week of

1. Robertson: Money. Chs. 1-3 Oct. 2
2. White: Money and Banking. Pp. 79-139; 150-81 9
3. Warren & Pearson: Prices. Chs. 1-3, 22. 16
4. Bradford: Banking. Chs. 12, 13.
Griffin: Foreign Exchange. Pp. 61-72; 205-47. (Supplementary: To be read in case the subject is not clear from material in Bradford.)
The Business Section of a Newspaper.
5. Robertson. Ch. 4.
Gregory: The Gold Standard and Its Future. Pp. 1-83.
6. Graham: The Fall in the Value of Silver and Its Consequences. Nov. 6
7. Dunbar: The Theory and History of Banking. Pp. 9-58.
Robertson. Ch. 5
8. Bradford. Chs. 2-5. 20
9. Bradford. Chs. 8-11. 27
10. Burgess. Pp. 65-168. Dec. 4
11. Burgess. Pp. 169-296. 11
12. Bradford. Chs. 16-20
Vanderlip: What About the Banks?
13. Warren & Pearson. Chs. 9-17, 19. Jan. 8
14. Robertson. Chs. 9-17, 19.
Anderson: Equilibrium Creates Purchasing Power.
Magee: New Deal Legislation.
(The assignments for the last three meetings are subject to changes or additions.)

Source: Duke University, David M. Rubenstein Library, Economists’ Papers Archive. Frank Whitson Fetter Papers, Box 55, Folder “Teaching, Ec 401-Money and Banking (Princeton University) 1933-1934”.


 Course Bibliography and Links

D. H. Robertson. Money. New York: Harcourt, Brace and Company, 1922.

Horace White. Money and Banking—Illustrated by American History. (Fifth edition). Boston: Ginn and Company, 1914.

George F. Warren and Frank Ashmore Pearson. Prices. New York: John Wiley & Sons, 1933.

Frederick A. Bradford. Banking. New York: Longmans Green, 1932.

C. E. Griffin. Principles of Foreign Trade. New York: Macmillan, 1924. [pages from chapters V and XIII]

T. E. Gregory. The Gold Standard and Its Future (3nd ed.). New York: E. P. Dutton, 1935.

Frank D. Graham. The Fall in the Value of Silver and Its Consequences. Journal of Political Economy, Vol. 39, No. 4 (Aug. 1931), 425-470.

Charles F. Dunbar. The Theory and History of Banking. (3rd edition, enlarged by Oliver M. W. Sprague). New York: G. P. Putnam’s Sons, 1917.

W. Randolph Burgess. The Reserve Banks and the Money Market. New York: Harper & Bros., 1927.

Frank Arthur Vanderlip. What about the Banks? Saturday Evening Post (5 November 1932), 3-5, 64-66.

Benjamin M. Anderson, Jr.. Equilibrium Creates Purchasing Power. The Chase Economic Bulletin 11 (June 12, 1931), 3-16.

James D. Magee, W. E. Atkins and E. Stein. The National Recovery Program. New York: Crofts. 1933. (Magee writes about money, banking and finance. “Reprints of portions of recent legislation are included.”)

Image Source: (ca. 1937) John Simon Guggenheim Memorial Foundation.

Irwin Collier

Posted by: Irwin Collier

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