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Exam Questions Harvard

Harvard. Economics Course Examinations, 1898-99

Another year of staffing, enrollments and semester examinations for the economics department at Harvard has been transcribed for the Economics in the Rear-view Mirror test-bank.

Worth noting is that half of the questions in the second semester exam for Frank Taussig’s advanced course on methodology (Economics 13) were in German. John Cummings’ course “Ethnology in its Applications to Economic and Social Problems” (Economics 17) was entirely what one would expect from a turn-of-the-century course of racist anthropology — e.g. “What do you understand by ‘cephalic index’? of what is it an index? Consider its validity as a test of (a) race origin, (b) of individual capacity”

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1898-99 Course Announcement
Outlines of Economics.

[Economics] 1. Outlines of Economics. Mon., Wed., Fri., at 9. Professor [Frank William] Taussig, Asst. Professor Edward Cummings, Dr. John Cummings, Dr. [Morton Arnold] Aldrich, Mr. [Edward Henry] Warren, and Mr. [Charles] Beardsley.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 351.

1898-99 Enrollment
Outlines of Economics.

[Economics] 1. [Outlines of Economics] — Professor [Frank William] Taussig, Asst. Professor Edward Cummings, Dr. John Cummings, Dr. [Morton Arnold] Aldrich, Dr. [Oliver Mitchell Wentworth] Sprague, Mr. [Edward Henry] Warren, and Mr. [Charles] Beardsley. Lectures (2 hours); recitations and conferences (1 hour) in 14 sections.

Total 443: 26 Seniors, 88 Juniors, 259 Sophomores, 13 Freshmen, 57 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

1898-99.
Economics 1.
[Mid-year Exam, 1899]

Arrange your answers in the order of the questions.

  1. It has been said that “the laws and conditions of the production of wealth partake of the character of physical truths.” Do you believe this to be true of the “laws and conditions” which Mill sets forth as to the accumulation of capital? as to the increase of production from land?
  2. Suppose greater and greater amounts of capital to be saved and invested, other things remaining the same: would wages rise or fall? profits? Would there be a limit to the rise or fall in either case?
  3. If all landlords owning advantageous sites remitted to tenants all economic rent, would the prices of commodities produced on those sites be affected? If so, how? If not, why not?
  4. Would you expect wages in agreeable occupations to be high or low? Why? Are they in fact high or low? Why?
  5. “The value or purchasing power of money depends, in the first instance, on demand and supply. But demand and supply, in relation to money, present themselves in a somewhat different shape from the demand and supply of other things.” Wherein different, and why?
    “The sequel of our investigation will point out many qualifications with which the proposition must be received, that the value of the circulating medium depends on the demand and supply, and is in the inverse ratio of the quantity; qualifications which prove the proposition an extremely incorrect expression of the fact.” What are the qualifications? and how far do they make the proposition incorrect?
  6. Wherein do the causes determining the level of prices remain the same, wherein become different, when specie has been displaced by inconvertible paper money?
  7. What determines the exchange value of
    an ounce of gold bullion,
    a bale of wool,
    English wheat in England,
    Dakota wheat in Dakota,
    Dakota wheat in England.
  8. If American shoes sell at the same price in New York and in Mexico (allowance being made for cost of transportation) can it be said that their value in the one case is determined by cost of production, in the other case not?
  9. What do you say to the common opinion that it is to a country’s advantage to dispose of an increasing quantity of exported goods?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99
Economics 1.
[Year-end Exam, 1899]

Arrange your answers strictly in the order of the questions,
Answer concisely.
Take nine questions, and from each group at least two.

I.

  1. Does the rate of interest depend on the abundance of money? does the rate of discount? If so, how? if not, why not?
  2. Is the exportation of specie from a country to be regarded with apprehension?
  3. In what way is the price of landed property likely to be affected by a rise in the rate of interest? by an increase in the quantity of money? by a growth of population?

II.

  1. Assuming Mill’s theory as to the causes determining the rate of wages to be sound, how far can trade union action influence the rate? State concisely whether you accede to Mill’s theory, and why or why not.
  2. What light does the experience of English coöperators throw on the contention that the discontent of the workingmen would cease if coöperative organization were extended to all branches of industry?
  3. Brentano’s reasoning as to the nature of the bargaining between employer and workman, and the policy therefore necessary on the workman’s part; and your own opinion as to his conclusion.

III.

  1. (a) In what manner the exigencies of a commercial crisis are best met by banking institutions; (b) how far the legislation of England and the United States aids, in a time of crisis, in the pursuance of the best policy by the banking institutions of these countries.
  2. Does the mode of regulating the issue of bank-notes in Germany proceed on a principal essentially different from that in England? Does the mode of regulation under the National Bank system?
  3. Arrange in their proper order the following items:
Capital

$1,000,000

Specie

$1,100,000

Notes

$   400,000

Surplus

$   200,000

Securities

$   450,000

Loans

$4,200,000

Deposits

$4,100,000

Undivided Profits

$   100,000

Expenses

$     50,000

 

Consider how the account would stand if the bank sold $100,000 of securities for cash, and with the proceeds met demands by depositors for the like sum; and whether the bank, before or after this operation, could carry on its operations as a National Bank?

IV.

  1. How the resumption of specie payments in the United States was promoted by the condition of international trade and by the course of prices in the years preceding resumption.
  2. Are there important differences between the modes in which the functions of money are fulfilled in the United States by National Bank notes, deposits in National Banks, legal tender notes, silver certificates?
  3. Explain to whom and in what manner what manner the changes in general prices during the last twenty years have been harmful.

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899) in bound volume Examination Papers 1898-99, pp. 26-27.

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1898-99  Course Announcement
Economic Theory in the Nineteenth Century

[Economics] 2. Economic Theory in the Nineteenth Century. Mon., Wed., Fri., at 2.30. Professor Taussig.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

1898-99 Enrollment
Economic Theory in the Nineteenth Century.

[Economics] 2. Professor Taussig. — Economic Theory in the Nineteenth Century. Discussion of selected passages from leading writers. The history of theory. Lectures and recitations (3 hours).

Total 67: 5 Graduates, 27 Seniors, 22 Juniors, 3 Sophomores, 10 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

1898-99.
Economics 2.
[Mid-Year Exam, 1899]

  1. Are the high wages earned by some kinds of skilled laborers cause or effect of high prices of commodities made by them?
  2. Many Americans annually visit European countries, and there spend freely. Supposing this to be the only cause, beside the imports and exports of merchandise, affecting the international trade of the United States, what would you expect the usual relation of its imports and exports to be? and what the usual flow of specie to or from the country?
  3. “What a nation is interested in is, not in having its prices high or low, but in having its gold cheap — understanding by cheapness not low value, butlow cost — a small sacrifice of ease and comfort; and it generally happens that cheap gold is accompanied by a high scale of prices.”
    How does a country gain from having its gold cheap? and why need cheap gold not be accompanied by a high scale of prices?
  4. “The distinction, then, between capital and non-capital does not lie in the kind of commodities, but in the mind of the capitalist — in his will to employ them for one purpose rather than another; and all property, however ill adapted in itself for the use of laborers, is a part of capital, so soon as it, or the value to be received from it, is set apart for productive reinvestment.” Is this true?
  5. “The multitudes who compose the working class are too numerous and too widely scattered to combine at all, much more to combine effectually. If they could do so, they might doubtless succeed in diminishing the hours of labor, and obtaining the same wages for less work. But if they aimed at obtaining actually higher wages than the rate fixed by demand and supply — the rate which distributed the whole circulating capital of the country among the working population — this could only be accomplished by keeping a part of their number permanently out of employment. . . . The workpeople collectively would be no better off than before, having to support the same numbers out of the same aggregate wages.”
    Whom do you suppose to be the writer of this passage? What would Cairnes say to it? Professor Taussig?
  6. “If the efficiency of labor could be suddenly doubled, whilst the capital of the country remained stationary, there would be a great and immediate rise in real wages. The supplies of capital already in existence would be distributed among the laborers more rapidly than would otherwise be the case, and the increased efficiency of labor would soon make good the diminished supplies. The fact is that an increase in the efficiency of labor would bring about an increase in the supply of capital.” — Marshall.
    Why? or why not?
  7. Do you believe Walker’s discussion of the theory of wages has promoted the better understanding of the causes affecting the welfare of laborers? If so, how? If not, why not?
  8. “The extra gains which any producer or dealer obtains through superior talents for business, or superior business arrangements, are very much a similar kind [to rent]. If all his competitors had the same advantages, and used them, the benefit would be transferred to their customers, through the diminished value of the article: he only retains it for himself because he is able to bring his commodity to market at a lower cost, while its value is determined by a higher. All advantages, in fact, which one competitor has over another, whether natural or acquired, whether personal or the result of social arrangements . . . . assimilate the possessor of the advantage to a receiver of rent.” — Mill.
    Wherein does Walker’s doctrine differ from this?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 2.
[Year-end Exam, 1899.]

Arrange your answers strictly in the order of the questions.

I.

Three questions from this group.

  1. J. S. Mill’s contributions to economic theory, and his position as regards the development of theory.
  2. “Cost of production” and “expenses of production”: what Marshall designates by these phrases; whether he believes that “expenses” measure “cost”; and how far Cairnes and Mill believed “expenses” to measure “cost.”
  3. It has been said that the wages-fund doctrine grew out of the industrial conditions of England during the Napoleonic wars, — capital having then been accumulated to such an extent as to enable employers to pay their laborers by the month, week, or day, without waiting for the marketing of the product. It has been said also that its general acceptance was favored by the fact that it afforded a complete justification, as to wages, for the existing order of things. — Give your opinion as to the historical accuracy of these statements as to the origin and the ready acceptance of the doctrine.
  4. Marshall’s conclusions on the relation of cost and of utility to the value of a commodity, —

(a) for long periods, if it be subject to the law of constant returns;
(b) for short periods, if it be subject to the law of constant returns;
(c) for long periods, if it be subject to the law of increasing returns.

Which among these conclusions has been heretofore most dwelt on by economists? and which is applicable to the greatest range of phenomena?

II.

Three questions from this group.

  1. Explain “consumers’ rent” (or “surplus,”) “producers’ rent,” “savers’ rent,” “quasi-rent”; and consider how far any or all of these conceptions are analogous to the traditional one of “economic rent.”
  2. The effect on consumers’ rent of a tax on a commodity subject to the law of diminishing returns; and the mode in which the reasoning would be affected according as the commodity were tobacco or diamonds.
  3. Admitting that interest is the reward of “abstinence,” does it follow that the rate of interest is a measure of the “abstinence” undergone by the several receivers of interest? Why or why not?
  4. The rent of rare natural abilities may be regarded as a specially important element in the income of business men, so long as we consider them as individuals. In relation to normal value, the earnings even of rare abilities are, as we have seen, to be regarded rather as a quasi rent than as a rent proper.” Is the rent of rare abilities specially important in the case of business men? if so, why? and why not to be regarded as rent in relation to normal value?

III.

Two questions in this group.

  1. “ The instructed man of today desires that the world generally and all other countries should have a full circulation, while he would like for his own country, if that were possible, a trifle less than its distributive share of that supply, so that it may be a good country to buy in and not a very good country to sell in. He desires to have prices everywhere sustained, in order that trade may be good. He would like, if that were possible, to have prices in his own country permanently lower, though only a shade lower, than anywhere else, in order that his countrymen may get the largest share of that trade.’ Walker
    Would you agree?
  2. Your conclusion as to whether in general a régime of falling prices is a cause of depression and an obstacle to prosperity; and whether the actual fall in prices during the past generation has had ill effects of this sort.
  3. The compensatory action of bimetallism, in regard to the ratio between the metals, and in regard to their stability in value: is it made out in either way? in both ways?

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899) in bound volume Examination Papers 1898-99.

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1898-99 Course Announcement
The Principles of Sociology

[Economics] 3. The Principles of Sociology. —Development of the Modern State, and of its Social Functions. Mon., Wed., and (at the pleasure of the instructor) Fri., at 1.30. Asst. Professor E. Cummings.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

1898-99 Enrollment
Principles of Sociology.

[Economics] 3. Asst. Professor Edward Cummings. — The Principles of Sociology. Development of the Modern State, and of its Social Functions. Lectures (2 or 3 hours) and conferences. 4 reports or theses.

Total 83: 4 Graduates, 42 Seniors, 21 Juniors, 5 Sophomores, 11 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

1898-99.
Economics 3.
[Mid-year Exam, 1899]

Answer the questions in the order in which they stand.

I.

  1. What as a matter of history, has been the contribution of the family to
  2. a) Social organization?
    b) Social ideals?
  3. What does Spencer mean by saying, The Salvation of every society, as of every species, depends on the maintenance of an absolute opposition between the regime of the family and the regime of the State?
  4. a) Does Haycraft agree?
    b) Does Kidd?
    c) Does Plato?

II.

  1. “Man has been supposed to be a ‘free agent,’ which meant that there were no laws to which his activities were subject. There could be no science of man and hence no science of society.
  2. a) What do the authors we have examined think?
    b) What do you think about it?

III.

  1. “In his Social Evolution he makes religion the mainspring of human progress and charges reason with anti-social and anti-progressive tendencies.”
    “Religion is rational through and through.”
  2. a) Expound and discuss these views.
    b) Do you see any way of reconciling the demands of Biology and Ethics. — progress and justice?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 3.
[Year-end Exam, 1899]

  1. “The whole history of the world bears witness to the different endowments of races, and even to the unequal capacity of the nations which have grown out of them.” (Explain and illustrate.)
    State some of the theoretical consequences drawn from these alleged differences.
  2. How far can you trace the influence, good or bad, of biological conceptions in Bluntschli’s theory of the State? For example, in his analysis of sovereignty, division of powers, and the like.
  3. “Another error, which is almost childish, is that which treads the organism of the State as a logical syllogism.” Discuss.
    Contrast Tarde’s analysis of Social phenomena with the legal and biological conceptions of other writers with whom you are familiar.
  4. The modern conception of the State and of its relation to the individual, contrasted with the ancient and the mediaeval.
  5. State briefly the work done on your last report and the conclusions you reached.
  6. Does the realization of social justice make for “equality” or the reverse? Why?
    Does social progress call for the sacrifice of the weak to the strong or of the strong to the weak? Why?

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899) in bound volume Examination Papers 1898-99.

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1898-99 Course Announcement
Statistics.

[Economics] 4. Statistics. — Theory, Method, and Practice. — Studies in Demography. Mon., Wed., Fri., at 11. Dr. J. Cummings.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

1898-99 Enrollment
Statistics.

[Economics] 4. Dr. John Cummings. — Statistics. Theory, method, and practice. Studies in Demography. Lectures (3 hours) and conferences; 2 reports; theses.

Total 19: 10 Seniors, 4 Juniors, 4 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 4.
[Mid-year Exam, 1899]

Devote one hour to A and the remainder of your time to B.

A.
Take two.

  1. The growth of modern cities and the laws governing the migrations of population as illustrated in the growth and constitution of the populations of London, Berlin, and other large cities.
  2. Define fully a “normal or life-table population,” considering its age and sex constitution and its movement.
  3. Discuss the development and predominance of the statistical method, and the gradual limitation of the field of statistical science.

B.
Take six.

  1. What do you understand by the “law of large numbers”? Discuss some of the principles which should govern the formation of statistical judgments.
  2. The “new law of population.”
  3. The value of criminal statistics and the nature of the statistical proofs that the value of punishments is over-estimated.
  4. “Several tests are employed to measure the duration of human life, and we are at present concerned to determine their precise value, and the relationship existing between them.” What are some of these tests, their precise value and inter-relationship?
  5. What is the nature of the statistical evidence that the “influx of the population from the country into London is in the main an economic movement”?
  6. The rate of mortality in urban and in rural populations.
  7. Decline in the rates of natality in the populations of Europe and the United States.

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99
Economics 4.
[Year-end Exam, 1899.]

Devote at least one hour, but not more than one hour and a half, to A, and the remainder of your time to B.

A.

  1. Statistics of wages, manufactures, and capital in the eleventh census of the United States.
  2. Movement of population and the standard of living. Consider in connection with the growth of population the movement of wages, prices, efficiency of labor and capital, the exploitation of new natural sources of power and wealth, and the relative movements of industrial groups.

B.
Take six.

  1. Average wages as an index of social condition.
  2. Statistical indexes of pauperism.
  3. What is the statistical basis for calculating the doubling period of a population and of what is that period an index?
  4. Define normal distribution of population (a) by sex, (b) by age.
  5. Show how the economic value of a population is affected by its age and sex distribution.
  6. To what extent may the prison population of the United States as given in the eleventh census be accepted as an index of criminality for the population of the United States?
  7. The growth of cities and the movement of population. Consider the effect of “urbanization” upon rates of criminality, natality, and mortality.

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899) in bound volume Examination Papers 1898-99.

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1898-99 Course Announcement
Railways and Other Public Works.

[Economics] 51 hf. Railways and other Public Works under Public and Corporate management. Half-course (first half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 1.30. Mr. [Hugo Richard] Meyer.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

1898-99 Enrollment
Railways and Other Public Works.

[Economics] 51 hf. Mr. Meyer. — Railways and other Public Works under Public and Corporate Management. Lectures (3 or 2 hours).

Total 85: 1 Graduate, 49 Seniors, 16 Juniors, 7 Sophomores, 12 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 51.
[Mid-year (Final) Exam, 1899]

Omit one of the last four questions.

  1. “And the Commission elsewhere says that the question of rates is not so much one between the railroads and the body of shippers, as between different classes of shippers, or rival localities.” — Railroad Gazette, June 22, 1888.
    Illustrate by means of the following complaints brought before the Interstate Commerce Commission:
      • Rates on sugar from Pacific Coast points to Fargo and St. Paul; V. 234.
      • Relative rates on wheat from certain “common territory” to Minneapolis and Duluth; V, 571.
      • Relative rates on salt from Hutchinson and St. Louis to certain “common points” in Texas; V, 299.
      • Export rates on wheat: III, 137.
      • Relative rates from Atlantic sea-board points to the interior on imported commodities and domestic; IV, 448.
      • Group rates on vegetables shipped from points between Mobile and East St. Louis; VII, 43.
      • Group rates on milk shipped from points in New York State to Jersey City; VII, 93.
      • Relative rates on hogs, dressed pork, and dressed beef: IV, 611.
  1. To what extent have Germany, France, and the Australian Colonies been able to enforce their rigid schemes of railroad charges? What is the nature of the evidence that such enforcement has prevented the railroads from fully developing traffic? Why has not enforcement of these schemes worked with greater friction?
  2. “Had [railroad] building been checked by the censorship of a board of commissioners, and charters granted by the State only upon a showing of necessity, to be determined by the population, density of traffic, and like warrantable reasons, a large percentage of the roads which to-day constitute the disturbing element of interstate commerce, would never have been built.” — Clark: State Railroad Commissions.
    Give your reasons for accepting or rejecting the statement that the control here suggested could not possibly have been exercised.
  3. State Railroad Control and Politics in California.
  4. Why was the Interstate Commerce Commission unable to enforce the prohibition of special rates?
  5. Contrast the working of the state ownership of railways in Prussia with the working of the state ownership of railways in Australia.
  6. The Massachusetts Gas and Electric Light Commission.

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

Also: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899) in bound volume Examination Papers 1898-99.

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1898-99 Course Announcement
Economic History of the U.S.

[Economics] 6. The Economic History of the United States. Tu., Th., at 2.30, and a third hour at the pleasure of the instructor. Dr. [Guy Stevens] Callender.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

1898-99 Enrollment
Economic History of the U.S.

[Economics] 6. Dr. Callender. — The Economic History of the United States. Lectures (2 hours) and discussions of assigned reading (1 hour). 2 theses.

Total 122: 6 Graduates, 60 Seniors, 38 Juniors, 7 Sophomores, 11 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 6.
[Mid-year Exam, 1899]
 

  1. “Between England and the American Colonies there was a real interchange of services. England gave defence in return for trade privileges. In the middle of the last century, at the time when the American quarrel began, it was perhaps rather the colonies than the mother country that had fallen into arrears.” — Seeley.
    Do you agree with this view of English Colonial Policy?
  2. Compare the following statement, with what you know of the views of commercial policy entertained by leading American statesmen during and after the Revolution:
    “From all this (i.e. the tariff acts passed by the various States between 1783 and 1789) it is clear enough that the States sought protection for the sake of building up manufactures. It was natural that they should. To suppose that they had any special predilection for free trade, at a time when restriction was the policy of the world, and while the mercantile system had not yet lost its grip save among a few economists, is to suppose them far ahead of their time.
    “Nor would their policy have been different if England had practiced perfect reciprocity with them at the beginning.” —  Kelley. Quarterly Journal of Economics II, 481.
  3. What were the “Great Inventions” and how did they chiefly influence the economic growth of the United States down to 1860?
  4. How would you explain the absence of commercial banks in America in Colonial times?
  5. According to Adam Smith “there seems to be two cases in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry.” Do you think the tariff act of 1816 could be fairly considered as coming under either of his exceptions to general free trade principles?
  6. “It is now proper to proceed a step further, and to enumerate the principal circumstances from which it may be inferred that manufacturing establishments not only occasion a positive augmentation of the produce and revenue of the society, but that they contribute essentially to render them greater than they could possibly be without such establishments.” — Hamilton’s Report on Manufactures.
    Mention as many of these “circumstances” as you can, and discuss one.
  7. How do you explain the prevalence of much higher protective duties since the civil war than before it?
  8. Mention three cases in which high duties have failed to cause any considerable growth of the industries affected, and compare these with any others in which the high duties did cause a growth of industry, pointing out a reason for the difference in result.
  9. Compare the conditions which gave rise to the trade on the western rivers between 1815 and 1845 with the conditions which caused the growth of trade in the English colonies between 1700 and 1760.
  10. To what extent have the people of the United States relied upon the assistance of government to supply transportation facilities? How would you explain the tendency to state intervention in this industry in the United States before 1850?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 6.
[Year-end Exam, 1899]

Select at least eight questions and answer them concisely.

  1. “The Southern States, then, are reduced to the very same relation to the tariff states, in point of principle, as that in which all the colonies formerly stood to Great Britain….
    I confidently assert that the restrictions imposed by the tariff states upon the commerce of the planting states, are more injurious and oppressive than all the colonial restrictions and taxes which Great Britain ever imposed upon the commerce of our forefathers…” — McDuffie.
    Do you think there is any grounds for such a comparison as this?
  2. “It is sometimes loosely said, that America has been settled by the European races, and different portions are distinguished, as settled by the English, French, Spanish, and Portuguese. The truth really is, that America, including its islands, has been settled chiefly from Africa, and by negroes….” — Weston.
    How did African slavery affect the settlement and growth of the thirteen continental colonies?
  3. How far has the United States applied the protective system to agriculture? Compare its policy in this respect with that of Continental Europe.
  4. Point out the main causes of agricultural discontent in the following sections of the country: the South; the northern states east of the Mississippi River; the northern states west of the Mississippi River.
  5. “Trusts have not yet been properly discriminated, and such a discrimination is necessary to a correct understanding of them. Some of the trusts have in them permanently vicious elements, whilst others, although not by any means harmless in their effect on political right, are so incapable of working prolonger and serious mischief that they may be left to the usual methods of relief or to their own inevitable dissolution.” — Bonham.
    Discuss this proposition, pointing out the circumstances which render the power of a trust formidable to competitors, and how far all trusts are in possession of such advantages.
  6. What reasons can you give for the failure of competition to regulate railway rates so as to secure justice to both buyer and seller of transportation? How far does the same reasoning apply to such industries as the manufacture of steel rails, and coal mining?
  7. “Before inquiring as to general changes in our national condition which may justify a change of opinion and policy in this respect (i.e. restriction of immigration), let us deal briefly with two opinions regarding the immigration of the past, which stand in the war of any fair consideration of the subject. These two opinions were, first, that immigration constituted a net reinforcement of our population: and secondly, that, in addition to this, or irrespective of this, immigration was necessary, in order to supply the laborers who should do certain kinds of work, imperatively demanded for the building up of our industrial and social structure, which natives of the soil were unwilling to undertake.” — Walker. Discuss one of these opinions.
  8. “In the early days of cotton growing it had been supposed that the cultivation of this staple would be carried on by white labor… It was a misfortune for Southern agriculture that slave labor was ever applied to the cultivation of the cotton plant. As has been pointed out in the preceding chapter, cotton culture offered many and great advantages over other crops for the use of slave labor; but slavery had few, if any, advantages over free labor for the cultivation of cotton…” — Hammond.
    “Taking infants, aged, invalid, and vicious and knavish slaves into account, the ordinary and average cost of a certain task of labor is more than double in Virginia what it is in the adjoining free states.” — Olmsted.
    Granting the truth of these statements how would you explain the growth of slavery in the United States after 1790? Compare these conditions with those existing in Virginia one hundred years earlier.
  9. Sketch briefly the history of the legal tenders from the close of the civil war to the resumption of specie payments.
  10. Compare the condition of the United States Treasury so far as its ability to maintain gold payments was concerned, in the years 1884-1885 and 1891-1893.
  11. “…Up to our own day American history has been in a large degree the history of the colonization of the great West. The existence of an area of free land, its constant recession, and the advance of American settlements westward, explain American development.” — Turner.
    What features of American social and political development have been influenced or determined by the conditions here referred to?
  12. Describe what you consider to be the most important change which has taken place in the South as a result of Emancipation.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), pp. 32-34. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Western Civilization in its Economic Aspects

[Economics] 82 hf. Western Civilization in its Economic Aspects. (Mediaeval and Modern.) Half-course(second half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 12. Dr. [William] Cunningham (Trinity College, Cambridge, England).

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

1898-99 Enrollment
Western Civilization in its Economic Aspects.

[Economics] 82 hf. Dr. Cunningham. — Western Civilization, mediaeval and modern, in its Economic Aspects. Lectures (3 hours). 4 reports.

Total 105: 13 Graduates, 41 Seniors, 15 Juniors, 23 Sophomores, 1 Freshmen, 12 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

Course Reading List (1899)

https://www.irwincollier.com/harvard-economic-aspects-of-western-civilization-cunningham-1899/

1898-99.
Economics 82.
[Year-end Exam, 1899]

Answer the first 3 questions and any 3 of the later questions.

  1. “In any community where there is wealth to spare, which can be sunk in magnificent buildings or other public works, there is a permanent record of its greatness or of the riches of its rulers. On the whole, when the characteristic buildings of each civilization were erected was the time of its greatest material prosperity; this gives us the means of gauging most definitely the precise nature of its contribution to the growth of Western Civilization as a whole.”
    Explain and criticise.
  2. Take any two of the evils of which complaint is made in the “Common Weal of the Realm.” What were the causes of those evils given in the dialogues? Were they, in your opinion, the real causes?
  3. Why can we obtain a greater knowledge of medieval Europe generally through the study of a single country than we could obtain for modern Europe by the use of a similar method?
  4. Trace the change from a natural to a money economy in agriculture, and in taxation.
  5. Compare the policy of a medieval town with the national policy of European States which followed.
  6. In what new direction and with what results was capital invested at the close of the Middle Ages?
  7. Compare the commercial policies of Portugal, Holland, and England with reference to the East India trade.
  8. (Take one.) For what is Western Civilization indebted to:

(a) The monastery.
(b) The crusades.
(c) The craft guild.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), p. 34. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Labor Question in Europe and the U.S.

[Economics] 9. The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. Tu., Th., Sat., at 10. Asst. Professor E. Cummings.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

1898-99 Enrollment
Labor Question in Europe and the U.S.

[Economics] 9. Asst. Professor Edward Cummings. — The Labor Question in Europe and the United States. The Social and Economic Condition of Workingmen. Lectures (3 hours) and conferences; 2 reports; thesis.

Total 129: 2 Graduates, 51 Seniors, 42 Juniors, 22 Sophomores, 12 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 9.
[Mid-year Exam, 1899]

So far as possible discuss both the historical and the theoretical aspects of the questions.

  1. Is the principle of coöperation capable of indefinite extension and application? If not what are its limits?
  2. Compare the English Trade Union congress with the annual convention of the American Federation of Labor.
  3. Is the programme of trade unionism inconsistent with the coöperative ideal?
  4. What do you understand by the English working classes; and what proportion do they bear to other classes in the community?
  5. Indicate the manner in which English working people have met the exigencies of sickness, accident, old age, out of work.
    What proportion of the working classes is identified with

a) the coöperative movement?
b) trade unionism?
c) the various forms of insurance?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 9.
[Year-end Exam, 1899]

  1. On what elements does the strength of a trade union depend? In what directions does it seem to you that American trade unions most need to develop in the future? In what specific respects may they profit by the policy and experience of European organizations?
  2. “The workers should certainly not fail to realize how important is the recognition by them that only by unity and solidarity is there any hope for protection and progress.” — President Gompers.
    Do the various forms of workingmen’s organizations give evidence of any distinctly differentiated wages class in the United States? Discuss carefully the evidence as to the extent and the limitations of class feeling among American workingmen.
  3. “If unemployment insurance should follow trade lines, every argument would seem to indicate that such efforts should be made through existing organizations of workingmen.” Discuss the various forms of insurance against unemployment, and indicate the advantages and disadvantages of each form.
  4. “France has joined Germany, Austria, Great Britain and Norway in the indorsement of the principles so boldly inaugurated by the first of these countries, — that the compensation of injured workmen should be compulsory upon their employers.”

(a) Explain the differences between the systems adopted in the countries named.
(b) Discuss the present status of employers’ liability and of accident insurance in the United States.

  1. Contrast the condition of workmen in the United States, England, and on the Continent as regards earnings, conditions of employment, cost of living, and effectiveness of organization, — taking the condition of railway labor as the basis of your comparison.
  2. Discuss the relative merits of the form which government interference on behalf of working people has taken in the United States and in European countries.
  3. State briefly the most important conclusions which you have arrived at regarding the subject assigned you for special investigation

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), p. 35. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Industrial Revolution in England

[Economics] 112 hf. The Industrial Revolution in England. Half-course (second half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 11. Dr. [William] Cunningham (Trinity College, Cambridge, England).

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

 

1898-99 Enrollment
Industrial Revolution in England.

[Economics] 112 hf. Dr. Cunningham. — The Industrial Revolution in England. Lectures (2 hours) and conferences. 6 reports.

Total 98: 8 Graduates, 30 Seniors, 21 Juniors, 17 Sophomores, 1 Freshman, 21 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

1898-99.
Economics 112.
[Year-end Exam, 1899]

Arrange your answers strictly in the order of the questions.
Take the first 2 and any 3 of the later questions.

  1. (Devote at least one third of your time to this question.) Compare industry before and after the Industrial Revolution with reference to —
    1. The function of capital.
    2. The control of the capitalist or entrepreneur over production.
    3. Status of the artisan, which should include discussion of mobility of labor, stability of employment, and extent and objects of associated activity.
  2. Give some account of Francis Place and his importance as a social reformer.
  3. An account of the silk industry in England. Show how it illustrates the economic policy of England during the 17th and 18th century?
  4. Why was the mercantile policy ultimately given up? Was that policy, in your opinion, advantageous to England during the 18th century?
  5. Arrange in order of importance causes of distress in the factory towns during the first quarter of this century. To what causes may the subsequent improvement be ascribed?
  6. Discuss distress among the agricultural population in the same way.
  7. Contrast the English Corn Laws of the 18th century with the law of 1815 with special reference to its results on different elements in the agricultural interest.
  8. Describe the chief improvements which have been introduced into English mines with special reference to the work of Alexander Macdonald.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), p. 36. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Banking and the History of the leading Banking Systems

[Economics] 121 hf. Banking and the History of the leading Banking Systems. Half-course (first half-year).Tu., Th., Sat., at 11. Professor [Charles F.] Dunbar.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

1898-99 Enrollment
Banking and the History of the Leading Banking Systems.

[Economics] 121 hf. Professor [Charles F.] Dunbar. — Banking and the History of the leading Banking Systems. Lectures (3 hours).

Total 61: 2 Graduates, 41 Seniors, 8 Juniors, 3 Sophomores, 7 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 121.
[Mid-year Exam, 1899]

Arrange your answers strictly in the order of the questions.

Reserve ONE THIRD of your time for questions under section B. Answer ALL the questions under A, and TWO of those under B.

A.

  1. Explain carefully the following terms:

(a) Safety or Guaranty Fund;
(b) Free banking;
(c) Reserve;
(d) Surplus;
(e) Daily Redemption;
(f) Clearing House Loan Certificates.

  1. Compare Ricardo’s scheme for a national bank with the existing law for the bank of England.
  2. What are the most striking advantages of the Scotch system of note issue?
  3. Why is the Bank of France able to maintain a more uniform rate of discount than the Bank of England?
  4. What provisions are made by the German bank law protecting, or tending to protect,

(a) notes;
(b) deposits?

  1. White says [Money and Banking, p. 327], “In 1845 the State of Massachusetts passed a law providing that no bank should pay out over its counter any notes but its own.”
    Was this law necessary for the working of the Suffolk Bank System?
  2. What are the chief arguments for and against a system of banking with a central reserve as in England?

B.

  1. Discuss the following extract, and its consistency with the author’s aphorism that “money is that money does”:—
    “Bankers’ deposits or liabilities are not money. Inscribed on the books of the bank itself, divided into no definite parts, constituting no tangible thing, having no outside course to run, with no separate identifiable existence, they are not money: they are simply an instrumentality for saving the use of money.” [Walker, in Quarterly Journal of Economics, October, 1893, p. 69.]
  2. In what ways, if any, do the different proposals for modifying our present banking system appear to fall short of a theoretically perfect system of banking for the United States?
  3. What are the circumstances which, beginning with 1865, have caused and kept up the great inequality observed in the distribution of national banks among the different sections of the Union?

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

Also: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), pp. 37-38. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Methods of Economic Investigation

[Economics] 13. Methods of Economic Investigation. — English Writers. — German Writers. Tu., Th., at 1.30. Professor Taussig.

Course 13 may also be taken in either half-year as a half-course.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 352.

 

1898-99 Enrollment
Methods of Economic Investigation.

[Economics] 13. Professor Taussig. — Methods of Economic Investigation. Rapid reading in English and German books, and discussion of questions of method and scope. Lectures and conferences. 2 hours.

Total 5: 2 Graduates, 2 Seniors, 1 Junior.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 72.

1898-99.
Economics 13.
[Mid-year Exam, 1899]

  1. Point out, as to one of the subjects named below, the nature of the problems in economics according as its scope is believed to be that of a positive science, a normative science, an art formulating precepts:

Bimetallism.
Economic Rent and the “nationalization” of land.
Wages and Trade Unions.

  1. The nature and extent of the aid given by statistical and historical inquiry in solving the problems of international trade and of tariff legislation.
  2. Adam Smith’s and Ricardo’s methods of reasoning on wages and profits.
  3. “The method by which Economic Science should be carried into regions never penetrated by Ricardo was simple. It was only necessary to draw from the actual observation of affairs fresh premises relating to forces of what we have called the secondary order.”
    Consider how far this general proposition is illustrated or confirmed by (1) Cairnes’s reasoning on the relation between cost, value, wages in different occupations; (2) Marshall’s reasoning as to demand-schedules, supply-schedules, and the theory of value and distribution.
  4. The questions of definition arising as to the terms capital, rent, money; and your grounds for believing one or another use of these terms to be advantageous.
  5. Keynes’s conclusions as to the mode in which economic history bears on economic theory; and your own.

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 13.
[Year-End Exam, 1899]

  1. “Alle konkreten volkswirthschaftliche Organisationsfragen sind also bedingt durch die Vorfrage, wie die psychologischen Grundtriebe bei dem fraglichen Volke durch Sitte und Recht modifiziert sind. Darum ist mir auch die Lehre von dem Egoismus oder dem Interesse, als dem psychologischen steten und gleichmässigen Ausgangspunkt aller wirthschaftlichen Handlungen nichts als eine bodenlose Oberflächlichkeit.” — Schmoller.
    Explain; and give your own opinion.
  2. “Die Geschichte bietet den Wissenschaften vom Staate und von der Volkswirthschaft . . . ein Erfahrungsmaterial ohne gleichen. Dieses Erfahrungsmaterial dient nun, wie jede gute Beobachtung und Beschreibung, dazu [1] theoretische Sätze zu illustrieren und zu verifiziren, die Grenzen nachzuweisen innerhalb deren bestimmte Wahrheiten gültig sind, [2] noch mehr aber neue Wahrheiten induktiv zu gewinnen. [3] Zumal in den komplizierteren Gebieten der Volkswirthschaftslehre ist nur auf Boden historischer Forschung voranzukommen; z. B. über die Wirkung der Maschineneinführung auf die Löhne, der Edelmetallproduktion auf den Geldwert, ist jedes bloss abstrakte Argumentieren wertlos. [4] Noch mehr gilt dies in Bezug auf die Entwickelung der volkswirthschaftlichen Institutionen und Theorien, sowie auf die Frage des allgemeinen wirthschaftlichen Fortschrittes.” – Schmoller.
    Explain; and give your opinion as to the several conclusions as numbered.
  3. “Das ist das Dilemma, vor welchem der Socialismus steht. Gelingt es ihm nicht, dem ersten Motiv noch eine genügende Wirksamkeit für die Arbeitsleistungen, für den technischen Fortschritt zu belassen, was nicht unmöglich, aber schwer, wen überhaupt mit den sonstigen Principien des Socialismus … in Einklang zu setzen ist; vermag er nicht das dritte, vierte, und vor Allem das fünfte Motiv in seinem System zu ordentlicher, mächtiger, wiederum mit seinen Principien aber noch vereinbarer Function zu setzen … was wen möglich, jedenfalls wieder ausserordentlich schwierig ist … so bleibt eben nichts Anderes übrig, als auf Zwang, Strafandrohung, kurz auf das zweite Motiv zurückzugreifen.”
    Explain; and consider whether the difficulties and inconsistencies which Socialism must face are equally strong with the first motive as with the others referred to.
  4. “Die Ergebnisse jedes der beiden Verfahren [Deduktion und Induktion] für sich allein haben hiernach ohne oder vor der Prüfung mittelst des anderen Verfahrens in Bezug auf die Wirklichkeit der Erscheinungen und auf deren Erklärung stets nur einen solch hypothetischen Werth.” — Wagner.
    The reasoning which led to this conclusion; and your own opinion.

Answer summarily as many of the following as time permits.

  1. Schmoller’s and Wagner’s statements of the ideal which the theory of distribution should set forth.
  2. How far the scope of economics is differently defined by Cairnes, by Schmoller, by Wagner; and how far their conclusions as to methods of investigation rest on their demarcation of the science.
  3. Schmoller’s views as to the nature of the services rendered by Adam Smith for economic theory; and your opinion as to the justice of these views.
  4. The mode in which Wagner thinks the development of motives was affected by the system of restriction (e.g. guild system) and has been affected by the modern system of free competition.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), pp. 38-39. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Selected Topics in U.S. Financial Legislation

[Economics] 16. Selected Topics in the Financial Legislation of the United States. Tu., Th., at 2.30, and a third hour at the pleasure of the instructor. Professor [Charles F.] Dunbar.

Course 16 may be taken as a half-course during either half-year.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

 

1898-99 Enrollment
Selected Topics in U.S. Financial Legislation.

[Economics] 16. Professor [Charles F.] Dunbar. — Selected Topics in the Financial Legislation of the United States. Lectures (2 hours). 4 reports.

Total 22: 4 Graduates, 11 Seniors, 1 Junior, 1 Sophomore, 5 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 16.
[Mid-year Exam, 1899]

Give one half of the time allowed for this examination to the discussion under Section B.

A.

  1. Give the reasons which would lead you to justify, or reject, the following sentence:
    “It is sometimes said that Mr. Hamilton believed in a perpetual debt, and when one notices the form into which he threw the obligations of the United States, the only escape from this conclusion is to say that he was ignorant of the true meaning of the contracts which he created.” [H. C. Adams, Public Debts, p. 161.]
  2. What is the historical value of Jefferson’s account of the adopting of the funding and assumption measure, given in his Ana?
  3. The plan on which the first Bank of the United States was organized has been criticised as unsound,
    (a) because subscriptions for stock could be paid in part in “public debt” instead of cash;
    (b) because of the provision as to the mode of paying the subscription to stock made by the government.
    Give your own judgment as to the weight of these criticisms.
  4. What was the real importance of the resort to excise duties as a regular source of revenue under the Federalist administration?
  5. Suppose that in collecting the direct tax of 1798 it had been found that a part of the taxpayers in the State of X were unable to pay the amount assessed upon them, — would this deficiency have remained as a debt due by the State, or would it have been lost by the United States?
  6. What untoward events, tending to defeat calculations made as to the income and expenditure of the government, occurred between 1794 and 1800?

B.

Discuss the following extract,

(a) with respect to the statement of fact;
(b) with respect to the conclusion arrived at:—

“The result of financial operations during the twelve years of Federalist administration was to increase rather than to decrease the Federal debt. Upon January 1, 1791, the amount of outstanding obligations was $75,463,476; upon the corresponding date for 1795 the debt had risen to $80,747,587. While Wolcott was Secretary of the Treasury, the operations of the sinking-fund made no impression whatever upon the amount of indebtedness, and there was left by the Federalists as a legacy to the Jefferson administration a debt of $80,700,000. Nothing is here said in criticism of the fact that the debt increased. That may have been a necessity under the circumstances. Nor do we undertake to decide whether this necessity was due to inefficiency on the part of the Federalist administration, or to the carping criticisms of the Republicans out of office; our only conclusion is, that it is unwise to play at paying a debt while the debt is in reality growing. This leads to false security, and becomes a most prolific source of new loans.” [H. C. Adams, Public Debts, p. 266.]

Source: Harvard University Archives. Harvard University Mid-year Examinations, 1852-1943. Box 5, Bound volume Examination Papers, Mid-years 1898-1899.

1898-99.
Economics 16.
[Year-end Exam, 1899]

In answering those questions do not change their order.

A.

  1. In what ways did the revulsion of 1873 affect the question of specie resumption?
  2. Has the coinage of silver dollars since 1878 at any time been a seriously inflating influence? If not, how and when has its influence been counteracted?
  3. What modes of redemption of legal tender notes are contemplated by the act of 1890, or are practicable under its terms? How is the gold reserve affected by redemptions thus carried on?
  4. What special phenomena gave an unusual character to the financial crisis of 1893?
  5. What was the seignorage bill of 1894, its purpose, and its fate?
  6. What were the operations by which the syndicate of 1895 undertook to protect the Treasury against demands for gold?
  7. What is the precise relation between “the endless chain” and deficient revenue?

B.

Choose one of these two subjects, and discuss it carefully, devoting to it at least one-third of your time.

  1. The possibility of returning to the specie basis after the great depreciation of the Civil War, without contraction, either open or disguised.
  2. Sherman’s qualities and rank as a financier, as exhibited in the history of the great financial measures with which, as Senator or as Secretary, he has associated his name.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), pp. 39-40. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Ethnology in its Applications to Economic and Social Problems.

[Economics] 172 hf. Ethnology in its Applications to Economic and Social Problems. Half-course (second half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 9. Dr. J. Cummings.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

1898-99 Enrollment
Ethnology in its Applications to Economic and Social Problems.

[Economics] 172 hf. Dr. John Cummings. — Ethnology in its Applications to Economic and Social Problems. Lectures and discussions (3 or 2 hours); conferences; 2 reports; 2 theses.

Total 16: 1 Graduate, 4 Seniors, 6 Juniors, 5 Others.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

1898-99.
Economics 172.
[Year-end Exam, 1899]

Devote one hour, but not more than one hour and a half, to A, and the remainder of your time to B.

A.

  1. “When the skulls are compared of the various human races, belonging to the past and present, it is found that the races in which the volume of the skull presents the greatest individual variations are the most highly civilized races. … Anatomical and physiological equality only exist in the case of individuals of quite inferior races.”
    “The superior races are distinguished from the inferior races by their character as well as by their intelligence. … Character is formed by the combination, in varying proportions, of the different elements which psychologists are accustomed at the present day to designate by the name of sentiments.”
    “The inequality between the different individuals of a race is greater in proportion to the superiority of the race.”
    “Whether in the race or the individual a correlation exists between the psychological character, the cerebral structure and the form of the skull.”
    Consider each of these statements carefully and comment at length.
  2. The race history of the French people.

B.
Two questions may be omitted.

  1. The colored population of the United States: its physical, moral, and intellectual character and progress since emancipation.
  2. What do you understand by “cephalic index”? of what is it an index? Consider its validity as a test of (a) race origin, (b) of individual capacity.
  3. “The constant immigration from all countries (to America) brings to light the question of adaptability and non-adaptability of the different races to the special conditions of American life.”
    How is this question being answered in America? in other countries? Consider in this connection the ethnical composition of the slum populations of American cities, and some social problems which arise in connection with these populations.
  4. In what sense are Anglo-Saxons as a race more hostile to socialism than other races?
  5. Take one:—

The French Canadian population of the United States.
The population of the city of Boston.

  1. State and explain some of the more important “laws” of Anthropo-Sociology.
  2. The growth of cities and social selection.
  3. “Anthropology is destined to revolutionize the political and social sciences as radically as bacteriology has revolutionized the science of medicine.” Comment upon and explain.

Source:  Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 5, Papers Set for Final Examinations in History, Government, Economics, Philosophy, Fine Arts, Architecture, and Music in Harvard College (June, 1899), pp. 40-41. In bound volume Examination Papers 1898-99.

_______________________

1898-99 Course Announcement
Seminary in Economics

[Economics] 20. The Seminary in Economics. Mon., at 4.30.

Subjects for 1898-99:—

(a) The Theory of Money. Professor [Charles F.] Dunbar.
(b) Local Taxation in the United States. Professor Taussig.
(c) Socialism and Communism. Asst. Professor E. Cummings.

Source: Harvard University. Announcement of the Courses of Instruction provided by the Faculty of Arts and Science 1898-99 (Cambridge, Massachusetts, 1898), p. 353.

 

1898-99 Enrollment
Seminary in Economics.

[Economics] 20. The Seminary in Economics. — Conferences (weekly); open meetings (fortnightly); thesis. Instructors and topics for 1898-99:

(a) Professor  [Charles F.] Dunbar. — The Theory of Money. 1 Graduate.
(b) Professor Taussig. —  Local Taxation in the United States. Total 7: 6 Graduates, 1 Other.

Source: Harvard University. Report of the President of Harvard College 1898-99, p. 73.

Topics and Speakers at the
Seminary of Economics,
1898-99

  • Aids in economic investigation. Professor Taussig.
  • Economic study in England. Dr. O.M.W. Sprague.
  • The growth and the constituent elements of the population of Boston. Mr. F. A. Bushée (2).
  • Some operations of the United States Treasury in 1894-96. Professor Taussig.
  • The Interstate Commerce Act as interpreted by the courts. Mr. F. Hendrick.
  • The English industrial crisis of 1622. Dr. O. M. W. Sprague.
  • The earlier history of the English income tax. Dr. J. A. Hill.
  • The theory of savers’ rent and some of its applications. Dr. C. W. Mixter.
  • The working of the French Railway Conventions of 1883. Mr. F. Hendrick.
  • The adoption of the gold standard by England in 1816. Mr. D. F. Grass.

Source: Harvard University Catalogue 1899-1900, p. 417.

Image Source: Walter Babcock Swift (Photographer), Harvard Square looking south, ca. 1900. Harvard University Archives, Hollis Images.

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United Kingdom and other countries. Methods of Economic Training. Cunningham Committee Report, 1894

 

The Cunningham Committee report on methods of economic training in the United Kingdom and other European and North American countries from 1894 provides a wonderful overview of the (Western) state of economics education.

Previous posts with information for U.S. economics courses taught in the 1890s can be found in the previous posts:

Chicago, Columbia, Harvard 1893-94

United States. Economics Courses in 23 universities, 1898-99

____________________________

Methods of Economic Training in this and other Countries.

Report of the Committee, consisting of Professor W. CUNNINGHAM (Chairman), Professor E. C. K. GONNER (Secretary), Professor F. Y. EDGEWORTH, Professor H. S. FOXWELL, Mr H. HIGGS, Mr. L. L. PRICE, and Professor J. SHIELD NICHOLSON.

APPENDIX

I.— On the Methods of Economic Training adopted in Foreign Countries, by E. C. K. Gonner, pp. 2 ff.

      1. Austria
      2. Hungary
      3. Germany
      4. Holland
      5. Belgium
      6. Italy
      7. Russia
      8. United States of America

II.— On Economic Studies in France, by H. Higgs, pp. 20 ff.

III.—On the Condition of Economic Studies in the United Kingdom, by E. C. K. Gonner, pp. 23 ff.

      1. England
      2. Scotland
      3. Ireland

IN furtherance of the above purpose three reports have been drawn up after due inquiry and laid before your Committee.

These reports, which are appended, bring out very clearly some features of difference between the position of such studies in this and in foreign countries, and, with other information before your Committee, seem to them to call for the following observations. Before proceeding to the consideration of certain particular points they would remark that the growth of economic studies, and in particular the development among them of the scientific study of the actual phenomena of life (both in the past and in the present), have important effects, so far as the organisation of the study and its suitability for professional curricula are concerned. It may be hoped, indeed, that when the empirical side is more adequately represented, the importance of the careful study of economics as a preparation for administrative life will be more fully recognised both by Government and the public.

(a) The Organisation of the Study of Economics. — While fully recognising the great energy with which individual teachers in this country have sought to develop the study of this subject, your Committee cannot but regard the condition of economic studies at the universities and colleges as unsatisfactory. As contrasted with Continental countries and also with the United States, the United Kingdom possesses no regular system. In one place economics is taught in one way, and in connection with some one subject, not infrequently by the teacher of that subject ; in another place in another way, and with another subject. Very often it is taught, or at any rate learnt, as little as possible. In most places this lack of organisation is due to the weariness of introducing elaborate schemes for the benefit of problematic students.. At Cambridge the pass examination which has recently been devised only attracts a few. With regard to the higher study of economics, Professor Marshall, among others, has written strongly of the comparatively small inducements offered by economics as compared with other subjects. He adds: “Those who do study it have generally a strong interest in it; from a pecuniary point of view they would generally find a better account in the study of something else.” Some considerations bearing on this point are offered below, but here it may be observed that the attempts to introduce more system into the teaching of economics, and to secure for it as a subject of study fuller public recognition, should, so far as possible, be made together.

In the opinion of your Committee economics should be introduced into the honour courses and examinations of the universities in such a manner as to allow students to engage in its thorough and systematic study without necessarily going outside the range of degree subjects.

(b) The Position of Economics with regard to Professional and other Curricula. — In most Continental countries economics occupies a place more or less prominent in the courses of training and in the examinations through which candidates for the legal profession or the civil service have to pass. In Austria, Hungary, and the three southern States of Germany this connection is very real, and the nature of the study involved very thorough. The same cannot be said with regard to the northern States of the latter empire, where the importance attached to this subject is so slight as to make its inclusion almost nominal. To some extent or in some form it is regarded as a subject obligatory on those preparing for those callings, or, to speak more accurately, for the legal calling and for certain branches of the civil service in Italy, Spain, Sweden, Norway, Denmark, and Switzerland. In Holland and Belgium, while a certain general knowledge only is required for a few posts or branches of the civil service, a very thorough study is incumbent on those qualifying for the higher branch of the legal profession. In both France and Russia it is an integral and necessary portion of the legal curriculum.

The two studies are cognate, and according to the view of your Committee not only would the institution of an examination in economics at some stage of legal degrees and qualifications be advantageous professionally, but the work of those who had enjoyed a legal training would react favourably on the advance of the science. In addition, economics should receive a much more important place in the Civil Service Examinations.

_______________________

APPENDIX I.
On the Methods of Economic Training
adopted in Foreign Countries
.
By E. C. K. Gonner.

The comparative study of the continental and other foreign systems of Economic Education brings out in clear relief certain features of either difference or coincidence which relate respectively to the impulses or circumstances giving this particular study its importance, to the method of study, and, lastly, to its organisation and the degree of success attained in the various countries.

(1) Putting on one side the purely scientific impulse to learn for learning’s sake, which can, after all, affect comparatively few, the inducement to a large or considerable number of students to interest themselves in any particular study must consist in its recognition, either positive or tacit, as a necessary preliminary to some professions or to certain positions. This may, as has been suggested, be either direct and positive, or indirect and tacit; direct and positive, that is, in the case of economics when in either one or more branches they are made part of the examinations admitting to the legal profession and the higher civil service; indirect and tacit when public opinion demands economic knowledge as necessary in those holding prominent positions as citizens or anxious to direct and control their fellows, either by the pen as journalists, or by act or word as statesmen or politicians. The importance of both these motives is, of course, largely increased when they exist in close connection with the purely scientific impulse. By itself this is not sufficient. The exclusion of one study, as economics, from professional or technical curricula, unless counteracted by the existence of a very powerful popular sentiment in its favour, practically removes it from the reach of students who have to make themselves ready to earn their living. Of the two influences, described above, the former, or the actual and positive recognition is given, in some shape or other, in Austria and Hungary, the southern states of the German empire, France, Belgium, Italy, Spain, Switzerland, Sweden, Norway, Denmark, Russia, and Holland. In America, and to some extent in Canada, popular sentiment and interest supply the needful impetus by making economics a tacit requisite for those exercising particular callings. In both Germany and Austria there are signs of the growth of economics in popular appreciation. In Austria, indeed, the circumstances are peculiarly fortunate. Economic instruction is recognised as a matter of serious importance, while, on the other hand, economic knowledge is one of the subjects of the State examinations for the legal and administrative service. In addition, its careful and scientific study is pursued by a fair number of advanced students. In this way Austria occupies a central position among the various nations which range themselves with America at one extreme, where there is no positive or direct obligation in favour of economic study, and at the other extreme, the Scandinavian and lesser Latin countries where all recognition that exists is positive, but where this positive recognition is largely nominal.

It has been urged that the ill-success of economic studies in these latter countries is largely an argument against their inclusion in obligatory curricula—a proposition which probably those who make it would hardly apply to the cases of other subjects. But from the evidence furnished by the countries before us this ill-success can be traced to other causes. It is due, firstly, to differences in the methods of study, and, secondly, to the differences in the thing made obligatory. In South Germany, Austria, and Hungary, economics is obligatory on certain classes of students, and the study of economics is making rapid and satisfactory progress, but then in South Germany, Austria, and Hungary, the method of study is one which commends itself to advanced students and educational critics, and the knowledge required in the examinations is thorough. In the lesser Latin countries, as Spain and Italy, the knowledge which the candidate is expected to show is elementary in itself, largely confined to elementary theory, and a marked unreality is imparted to the whole study, an unreality recognised alike by examiners, teachers, and students. On the other hand, the advantages which economics may receive from its public and positive recognition are borne witness to by those best acquainted with the condition of the study in Germany, where the usages of the north and south differ. Broadly speaking they consist in the removal of economics from the category of unnecessary to the category of necessary acquirements. Many of those who begin the study from compulsion continue it from choice. In America, indeed, the strength of popular sentiment and the ever present interest of politics together with the action of the universities, where nearly all studies, and not economics alone, are put on a voluntary footing, give it an adequate position; but failing the combination of conditions such as these, its absence, both from all professional curricula and from the earlier stages of education, cannot but be regarded as disastrous and unjust.

(2) The method of economic studies is of a certain importance with regard to the subject last discussed. Though it would be unfair to estimate the work, or to judge of the scope of schools of economic teaching from their extreme tendencies, these afford not unsatisfactory means of distinction. Speaking broadly, they may be placed in two groups—those in which the dominant influence is empirical; those in which it is theoretical or abstract. Very few economists, whether teachers or writers, are wholly empirical or wholly theoretical. Some bias, however, they nearly all have, and it is by that they may be ranked for the present purpose. Nor must it be supposed that the distinctions drawn in one country, with regard to these opposing lines of study, at all correspond with those existing in another. In Germany, for instance, the attitude of Professor Wagner is attacked by the members of the historical school— one branch of the empirical—but judged by the standards of France and England he would rank in the main as an empiricist. The theorists of Germany and Austria do little more than assert that theoretical study has its due place and is a necessary part of the equipment of an economist.

When discussing the assertion that compulsory economics, however enforced, tended to issue in perfunctory attendances and poor results so far as interest was concerned, it was urged that these consequences depended largely on the method and nature of study. This is remarkably llustrated by the fact that the countries where such evils are regretted or anticipated are those where the study of economics is mainly theoretic, or where economics is distinctly and openly subordinated to other subjects. Lessons of this latter kind are never thrown away upon students. But with regard to the former, it is not from the southern states of the German empire, or from Austria, that we hear these complaints. There economic study is obligatory, and the economic study involved is two thirds of it empirical in character. In the Latin countries the state of things is very different. The basis of study is, if I may say so, text-book theory, and the position of economics, so far as progress is concerned, is unsatisfactory in the extreme. This has been particularly dealt with in the paragraphs relating to Italy.

In two of the great nations the mode of study practised is largely empirical. In Germany, despite the contrast between different leaders of thought, the importance of this method is well illustrated by the position which the study of Practical or Applied Economics invariably occupies. In America, the study of economic history and of modern economic fact grows into greater prominence year by year.

(3) Turning to the question of success, the question arises at once as to the tests whereby such may be measured. Of these, many, varying from popularity to eclecticism, have been suggested, but possibly the one most suitable is the ability of a system to produce a high general level amongst a good number of students. Something more is required of a system than that it should bring together large audiences for elementary courses, while as for the production of a few very good students, a few will always press to the front through all difficulties, despite systems good or bad, or in the absence of any system at all. But a system that is to be deemed good must place within the reach of all industrious and apt students the means of a good general economic training, while stimulating him to prosecute original and independent work. Further, it should provide these advantages regularly and not intermittently. The way in which these two needs are met in practice can be stated briefly. General training is provided by a systematic series of courses which should include at least Theory of Economics, Applied Economics, and Finance. The seminar, or classes organised like the seminar, offer opportunities for guiding a student into the ways of original work.

Seminar instruction is given regularly in Germany, Austria, Hungary, in the better equipped universities of America, Switzerland, and to some extent in both Sweden and Holland. In Russia the professors may and sometimes do organise seminars or discussion classes. In Belgium classes are held in connection with some of the courses.

With regard to the systems of providing for a good ground knowledge of the leading branches of Economics, classification is rendered difficult by the different methods adopted in the various countries. Some are more, some less thorough. Among the former we may put without hesitation the countries already singled out for notice—Germany, America, Austria, and Hungary.

From the accounts given in detail below it is clear that in these countries the study of economics is advancing. The training is systematic. A fair proportion of students pass from the more general into the more special or advanced courses. The production of work, not necessarily of the first order, for with that we are not dealing, but of the second, or third, or fourth order, is great and still increases.

AUSTRIA.

The position of Economics in Austria is largely determined by its relation to legal studies, by the place, that is, which its various branches hold in the examinations qualifying for the legal profession and for the juridical and higher administrative services. According to the system till recently in force, but now somewhat modified, candidates intending to enter these had to attend certain courses at the universities, and to pass certain examinations varying according to the positions sought. Those entering the legal profession had to pass the first State examination in addition to the three political rigorosa of the university, success in which latter conferred the degree of Doctor. Other candidates only needed to pass the three State examinations. These latter were as follows:— The first (Rechtshistorische Staatsprüfung) was held at the end of the second year of study, and comprised the following subjects: Roman Law, Canon Law, and German Law in its historical aspect. The second (Judizielle Staatsprüfung) was held towards the end of the eighth semester, in the following subjects: Austrian Law, civil, commercial, and penal; Austrian civil and criminal Procedure. At the end of the four years came the third and final examination (Staatswissenschaftliche Staatsprüfung), which alone is of importance so far as the legal recognition of Economics is concerned. The subjects examined in were Austrian Law, International Law, Economics (including Economics, the Science of Administration, Finance and Statistics). The political rigorosa, while they correspond in outline to the State examinations, have some few points of difference both with regard to method and subjects. They, too, are three in number, and may be described as the Austrian rigorosum, corresponding to the second State examination, the Romanist, corresponding to the first State, and the Staatswissenschaftlich, which closely resembles the third State examination, though not including Statistics or Administration. There is no regulation as to the order in which they are to be passed, but that indicated above is customary. Their greater severity may be judged from both the additional length of preparation prescribed and the manner in which they are conducted. The earliest date at which a candidate may pass his first rigorosum is at the end of the fourth in place of the second year. The second and third may follow at respective intervals of two months. The Staatsprüfung is an examination taken by groups of four students, each group being under examination for two hours; but in the rigorosa each candidate is under examination for two hours, spending half-an-hour with each examiner. Both State and university examina tions are oral, and the latter are said to impose a severe strain on both examiner and candidate. In the latter the examiners are the university professors, while in the State examinations these are variously composed of professors, functionaries of the State, and barristers of good standing.

By the law of April 28, 1893, which came into effect in October, the system sketched above underwent certain alterations. A complete separation will be effected between the university examinations or rigorosa, and those qualifying for the legal profession and State services, the former no longer serving as a possible substitute for the second and third of the latter. In addition, some slight change has been introduced into the curriculum and examinations imposed upon students designing to enter these. They will have to attend courses and to be examined in— (a) The Science of Administration (Verwaltungslehre), and with special reference to Austrian Law; (b) Economics, theoretical and practical; (c) Public Finance, and especially Austrian Finance. In addition they must attend lectures (without subsequent examination) on Comparative and Austrian Statistics. These alterations will leave the number of students in the more elementary subjects unaffected, and so far from operating in discouragement of economic and political studies, will, it is hoped, lead to their more thorough prosecution, by raising the degree to a more scholarly position.

The marked recognition of Economics by the State, and the large number of students whose prospects are involved in its successful study, naturally affect the teaching organisation provided by the universities and other bodies.

This is fairly uniform throughout Austria, as apart from Hungary, though the extent to which the subject is pursued, and the variety of its forms, depend mainly on the enthusiasm of particular teachers and the greater opportunities offered by particular universities or other institutions. At the universities the ground plan of work may be described as identical, Economics being taught in the faculty of law. There are certain courses which must be delivered, and at which attendance is obligatory for certain classes of students. These are on National Economy, Finance, Statistics, and the Science of Administration (Verwaltungslehre), which includes instruction in practical economics, public health, army, matters of policy, justice, &c. But in addition to these the teachers, whether professors or privat-docents may, and often do, deliver special courses dealing with more particular subjects. These are not necessarily or usually the same from year to year; and may be described as instruction of an unusually high order, inasmuch as each teacher is accustomed to select for treatment such branch of science in which his own activities and studies lie. The large2 voluntary attendance at such lectures is a testimony to the regard in which economic studies are held among a large body of students.

1Vienna—Prag (German), Prag (Bohemian), Graz, Innsbruck, Krakau (Polish), Lemburg (Polish).
2At Vienna the attendants at special courses varies from 50 to 100.

Seminar instruction is customary, as in Germany. At Vienna there are two seminars, one for Economics, one for Statistics and Political Science (Staatswissenschaft), while in addition there is an Institute of Political Science, attached to all of which are libraries and places for the members to carry on their work in close contact with their professor or his deputy. The members consist in part of young doctors of the university who have recently graduated, in part of those preparing for the examinations of the university, and include, as a rule, several foreigners who have come to Vienna to pursue their studies. The arrangements at the other universities are similar, though in some they lack the completeness displayed at Vienna.

Students who, having passed their examinations with credit, or other wise performed their work to the satisfaction of their teachers, wish to carry on their studies in other countries are eligible for Reisestipendia (travelling scholarships). These are rewarded to encourage study in foreign universities, or to enable their holders to carry out investigations which necessitate a journey. Unfortunately they are but few in number, and as they are open to students of all faculties, few economists can hope to obtain them. Among the more recent holders in Vienna are Professors Böhm-Bawerk, Robert Meyer, Von Phillipovich, and Dr. Stephen Bauer, the two latter of whom published reports on matters studied abroad.

In this way a method of economic instruction has been developed in the Austrian universities which not only provides a large number with a carefully systematised series of courses, but offers to those disposed to more thorough or more special study ample opportunity. The more eager and energetic pass through the courses compulsory for the law degree, in themselves a fitting preliminary to more detailed work, to attendance at the special courses and membership of the seminar; from these they may, if fortunate, advance into the position of travelling or research scholars of their university. Though most of the students at the Economic Lectures are jurists, the attendance frequently includes members qualifying in other faculties, or even more general ‘hearers.’ At Krakau, students of the philosophical faculty form some 20 to 25 per cent of the total. All these students are entirely free so far as their choice of Economic courses is concerned. It is not possible to give the exact numbers of the students to be described respectively as elementary and advanced. The particulars, however, furnished by the various universities permit a rough general estimate. Not fewer than one thousand students undergo the more general courses, thus attaining to a fair systematic acquaintance with the main branches of economic study, while out of that number more than two hundred take special courses and enter the various seminars. This account rather under than over estimates the extent to which economic studies extend. As to the character of the advanced work there is no doubt. As has been pointed out, it is of a high order. But some question has been raised as to the value of the knowledge likely to be attained by the more general student. The variety of subjects required in the examinations either of the university (political rigorosa) or of the State, and the number of courses obligatory on the students, do not allow of an early specialisation.1 But a glance at the nature of the examination, and at the syllabus of the various courses, forbids the inference that the instruction given is of a purely rudimentary nature.

1This, as Professor von Milewski contends, interferes with the scientific character of the various studies required for the degree. As each has to take up several subjects, and to pass examinations in these, he cannot give very special attention to Economics or any other branch of social science in which he may happen to be interested.

Much, it is true, depends upon the personal enthusiasm and force of the teacher, for, despite the obligation of attendance, a dull and unininteresting lecture will rarely obtain the audiences registered to him, many students preferring to buy copies of the course hectographed from the notes of their predecessors in the lecture room, and only troubling themselves to appear at the beginning and end of the semester.

In the University of Krakau, Economics are obligatory, both in study and examination, for the students of agriculture who attend special lectures, apart, that is, from the law students. Instruction in Economics (Political Economy, Finance, and Statistics) is given also at all the Technical High Schools (Technischen Hochschulen) in Austria,1 while attendance at the courses (though without examination) is obligatory at the schools of agriculture, where similar conditions prevail. At the Commercial Academies (Handelsakademien of Vienna and Prague) a course of lectures is given with particular reference to the Economic branches which throw most light on commercial facts and features, and on the relations existing between the various classes engaged in industry and trade. To obtain the diploma of these institutions the lectures are followed by an examination. Courses are provided for the consular service at the Oriental Akademie in Vienna, and for the service of the administration of the army.2 There is also a Fortbildungschule for officials of the railway, where political economy is taught and examined in. Members of these courses are considered specially fitted for the attainment of the higher posts in their service.

1Of these there are six:-Vienna, Brünn, Graz, Prag (German), Prag (Bohemian), Lemburg (Polish). After examination diplomas are granted, which are necessary for those becoming teachers in agricultural schools, and are, it is said, a strong recommendation in the eyes of landlords when engaging their officials, agents, &c.
2An Intendanz-Class for officers willing to serve as Intendanten for the provision of the army.

A knowledge of Economics, duly and doubly certified by registered lecture courses and by examination, is a necessary preliminary to certain careers. Attendance at the university lectures and the attainment of the juridical degree are the qualification for the higher branches of the legal profession (advocate, &c.), and like attendance and degree, or, in the place of the latter, the diploma of public service, are required for all branches of the legal profession and for the whole civil service. Entrance into the consular and diplomatic services may also be obtained through the courses of the Oriental Academy. Further, as has been pointed out above, a certain acquaintance, or supposed acquaintance, with economic studies is considered necessary in some other vocations.

At the present time very considerable importance is attached to economic studies in Austria. Their scientific character is a general matter of care, and an extension of the sphere in which they are obligatory, or at least advisable on the part of those who seek success in their particular calling or profession, is earnestly advocated by some. In the first direction the reforms in the juridical studies at the universities will operate. As Dr. Mataja writes:— ‘Economics will have greater and not less weight.’ On the other hand, and in the other direction, different suggestions have been made. Some advocate the extension of compulsory study to engineers who will become officials and directors in factories, to the employés of the fiscal service, to those attending the more elementary technical schools. Others would like to see schools of political and social science (including Economics) founded in the great industrial centres. Whether these suggestions be carried out or not, they serve to illustrate the feeling which exists, at least on the part of some, with regard to the value of Economics both as a special and as a branch of general study.

HUNGARY.

Economics holds a position somewhat similar to that in Austria. It is obligatory on all students in the faculty of law and political science at the two universities,1 and in the Rechtsakademien (legal faculties, as at Kassa), who must take courses in Economics and Finance before the end of their second year, when they have to pass an examination, among the subjects of which these are included. After the second year their studies bifurcate, according to the degree which they seek (Dr. Juris, or Dr. Cameralium). In order to obtain the former, they must pass an examination in financial law. But if they wish to take the latter degree (Dr. Cameralium), they must pass two rigorosa, among the subjects of which are Economics (theoretical and practical), Finance, Finance Law, and Statistics. The knowledge required in this case is exceedingly thorough, and the degree is of high value in the public service. There are also state examinations which serve as qualifications, though to a lesser extent, for the legal and administrative services. Though easier, they correspond closely with the above. In the universities the system of economic study in its general features resembles that in vogue in Austria, the chief courses being those on Economics and Finance; but both at Budapest and Klausenburg, as, for instance, at Strassburg to take a parallel, these studies belong not to a sole legal faculty, but to a legal and political faculty (Rechts- und Staatswissenschaftliche Fakultät). In addition to successful examinations the candidates have to present a thesis. The possession of the degree of Dr. Cameralium implies a very sound economic training, and it was till lately the chief means of entering the higher civil service both of the kingdom and of the states. Considerable attention is paid to Economics, the seminars being well frequented, and the interest and activity of students great. This is particularly true of Budapest, where the lectures are varied and delivered by a numerous and able staff.

1Budapest, Klausenburg (Kalorsvar).

GERMANY.

The differences in the history and regulations of the various states composing the German empire have led, not unnaturally, to considerable differences in the positions which economic studies occupy. On the one hand, they are affected by the diversity of usage existing as to their connection with the course of study required for the legal profession and the civil service. On the other hand, the particular faculty in which they are included has been determined by reasons possessing little but historical validity.

  1. Prussia.—At the Prussian universities Economics belongs to the faculty of philosophy, and, speaking generally, to that section of this faculty known as the Sciences of the State. A student takes his degree in Economics entirely apart from law, the position of which as a separate faculty unfortunately precludes a student who presents a thesis in one of these two subjects from selecting the other as one of the two collateral subjects which he is bound by regulation to offer himself for examination in. Further, it must be noticed that the degree of doctor in this country, and, indeed, in Germany generally, is not a qualification, as was till recently the case in Austria and still is in certain of the Latin countries. Some assistance it may be in a judicial career, but even then the degree of Doctor Juris has naturally much more value than that of Doctor of Philosophy in the State Sciences.

Nor does Economics occupy an important place in the State examinations which qualify for the legal and administrative services. To enter these a candidate must pass examinations, the first of which is common to both services (referendar Examen). This consists of two parts, the first written and dealing with law, the second oral, which includes, among other matters, the elements of Economics. So subordinate is this subject that, in the opinion of many critics, it hardly counts in the decision as to the eligibility of candidates. The course of examination then bifurcates, some taking that for Justiz-Assessor, others for that of Regierungs Assessor, for neither of which is Economics required. At the latter of these (Reg. Assessor) some knowledge of Economics in its applied branches is said to be highly desirable, but inasmuch as the examination takes place some five years after the conclusion of the university course, the demands it makes are chiefly met by knowledge supplied from books. With regard to the constitution of the examining boards it should be noticed that, even at the referendar Examen, it is not in accordance with common practice to include professors of Economics.

  1. Saxony. —The system recently adopted in Saxony is, in so far as the subordination of Economics is concerned, nearly identical with that of Prussia. In one point it is more favourable to the interests of this subject, the professoriate being invariably represented on the board of examiners.
  2. Reichsland.—In the Reichsland Economics is of no more importance than it is in Prussia.
  3. Saxe Weimar.—In Saxe Weimar, too, it is of but nominal importance in the juridical examinations. There, too, the board of examiners is constituted irrespective of economic requirements, and, as has been caustically said, it is rare to find the examiners academically qualified in the subjects in which they are supposed to examine. The position, in the main, is very similar to that prevailing in Prussia.
  4. Bavaria.— In the chief southern and south-western states Economics holds a more important position in the legal and civil service curricula. Thus, in Bavaria, all students of law, administration, and forest (Landwirth) have to pass an examination in which it forms one of the subjects. The time of the examination is at the conclusion of the four years devoted to legal or other studies respectively, and the presence of the Professor of National Economy among the professorial examiners necessitates due attendance at lectures and thorough study. The second examination for the civil service is technical in character, and only requires economic knowledge in its connection with practical developments and issues.
  5. rtemburg.—In Würtemburg, though Economics forms no part of the strictly legal examinations, in the other State examinations for administrative students it is of very great importance. For these there are two examinations, the first of which, more general in character than the other, takes place at Tübingen, and involves a very considerable acquaintance with Economics.
  6. Baden.—Every legal student, as well as every candidate seeking entrance into the higher employments in the State departments of revenue and administration, must, in his time, attend lectures on, and pass examinations in, the economic and financial sciences.

The varying positions which Economics holds in the examinations qualifying for State and legal employment in the different German states affect a large number of university students who have to pass these examinations, but do not of necessity take a degree. To them the connection of Economics with one faculty or the other in the university cannot be a matter of much importance, but with others the case is different. Students reading for the degree are, as has been already said, restricted now on one side, now on another, as to their choice of collateral subjects for examination. Sometimes they can offer Economics in connection with law, sometimes they cannot. In addition, the influence which kindred studies taught in one faculty may bring to bear on the methods of instruction may, in some instances, prove of not inconsiderable importance even in the case of the students studying for the doctorate. Professor Brentano, however, whose personal experience extends from Leipzig to Strassburg, from Vienna to Breslau and Munich, contends that the varieties of combination matter less than might seem probable. The facultative position of Economics varies considerably. In Prussia and Saxony they find place among the many heterogeneous subjects grouped together in the faculty of philosophy, though in certain places, as at Berlin, they fall into a distinct subdivision. At Berlin they belong to the Staats- Cameral-und Gewerbewissenschaften. At Strassburg (Reichsland) they combine with law to form a Rechts- und Staatswissenschaftliche Facultät. At Tübingen (Würtemburg) a Staatswissenschaftliche Facultät exists independent of the law, a practice identical with that current at Munich (Bavaria). At some universities, as for instance at Jena, economic lectures are largely attended by the students of Landwirthschaft.

A comparison of the studies preliminary to the doctorate in Germany with those in Austria reveals two chief points of difference. At German universities there is little prescription of the course of study, or, indeed, of the methods to be adopted by the student, who within certain wide limits has a perfectly free choice of subjects. But this comparative freedom from restraint is closely connected with the great importance attached to the thesis, a custom which, its critics urge, leads to premature specialisation. In both countries candidates for the civil and legal services are much more closely restricted to definite courses.

In their practical working the systems of the different universities bear a close resemblance, at any rate in their earlier stages. There are three main courses, delivered annually, on pure Economics, Applied Economics, and Finance, all of which, even the first, involve a careful study of economic fact as distinct from hypothesised theory. The extent to which the method adopted in the first course is empirical depends, of course, on the position of the teacher as an adherent of one or other of the opposing schools of economic thought; but, speaking generally, even the least empirical among them would be deemed empirical by those accustomed to English methods. But, in addition to these three annual courses, lectures are delivered on special subjects. At Freiburg (in Baden), in the summer semester of 1891, these were:

    • History of National Economy and Socialism.
    • Agrarian and Industrial Policy, including the Labour Question.
    • History of Statistics.

The list of special lectures at Berlin, to take the most completely equipped of the universities, shows more clearly the wide range of subjects dealt with under the term Economics. In the summer term, 1892, besides the ordinary annual courses, there were courses of lectures on the following subjects:

    • Theory of Statistics.
    • History of Statistics.
    • Statistics of the German Empire.
    • The Economic and Social History of Germany from the end of the Middle Ages to the Peace of Westphalia.
    • History and Modes of Industrial Undertakings.
    • Money and Banking.
    • Early Commercial and Colonial Policy (till 1800).
    • Industrial and Commercial Policy.
    • The Social Question.
    • Forms of Public Credit.

In addition to lectures, necessarily more or less formal, opportunities are afforded for systematic instruction in classes and in the seminar. The latter institution varies considerably, according to the character of the students frequenting particular universities, for its efficiency, and accord ing to the position of the professor undertaking it, for the direction of its studies. Each teacher collects around himself a group of students who follow his method, adopt his attitude, and frequently devote themselves to those branches of economic research which have occupied his attention. Thus, at Strassburg, Professor Knapp’s seminar deals chiefly with agrarian questions; at Berlin, Professor Wagner’s influence is seen in the predominance of finance and financial topics among the subjects discussed. At Munich, to pass to the question of organisation and method, the two professors join in holding a seminar in which “there are about twenty-four young men taking part. Each of them has to undertake some work: the younger ones get a book to read, and have to report on it; the more advanced have to treat a subject after reading several books on the subject; the most advanced have to make a work themselves, the professors aiding them in furnishing material and giving assistance.’ At some universities there are two seminars, at others one. It is a matter for regret that, with all these opportunities, a comparatively small number of students are ranked as advanced. The explanations offered are many, but probably a very adverse effect on the study is produced by the paucity of the positions to which a thorough economic study can serve as an introduction. Teaching posts are few, and the requirements in the State examinations for the legal and administrative services are, if not as in many cases nominal, strictly limited to an elementary knowledge.

In some of the technical schools, and in all the schools of commerce, instruction in some branch of economics forms part of the regular course, and, in these latter, an examination is held. In the former, however, the subjects thus taught are distinctly subordinated to the technical sciences which occupy the chief attention of the students, while in the schools of commerce only those branches receive adequate treatment which bear or appear likely to bear upon commerce in its practical aspects.

HOLLAND.

The connection between the universities and the legal profession is close in Holland, none but doctors of jurisprudence being qualified to practise as advocates. This is a circumstance which has a material effect upon the study of economics, inasmuch as this, in its more elementary branches, forms one of the obligatory subjects of the first examination for the degree. Thus, so far as this one profession is concerned, a certain knowledge of economics is necessitated.

In the higher administrative service no such knowledge is obligatory, but it is considered that officials who possess the degree of doctor of political science have better chances of promotion. For this degree a thorough study of economics is required. In certain other government services demand is made for acquaintance with certain branches of the subject. In the examinations for the consular service the ‘general principles of economics’ and the ‘elements of statistics,’ chiefly with regard to trade and shipping, form subjects of examination. A similar knowledge is required for the diplomatic service. In none of these cases, it should be noted, is attendance at specified courses compulsory. The subject forms part of the examination.

The requirements indicated above explain to some extent the position which economics occupies in the four Dutch universities. It is a necessary subject for two degrees—the doctorate in laws and the doctorate in political science. But the nature of the knowledge required differs greatly. In the former it is elementary, not going beyond the first principles of the theory, while in the latter case the examination necessitates a really careful and detailed study. In addition to the general course of lectures taken by all, candidates for this latter distinction usually attend two other courses, one in capita selecta (taxation, finance, socialism, &c.), and another in statistics. These courses, unlike those at German universities, extend throughout the academic year, i.e. from September to July. For advanced students discussion classes are held, where the students, after a previous study of a chosen subject, meet to discuss it among themselves and with the professor. Before proceeding to the degree of doctor a candidate has to write, and afterwards to defend, a dissertation on some branch of the general science which he has taken up. Thus, in the case of political science, the thesis may be on some economic question. Outside the universities the chief study of economics takes place in the intermediate schools, where, during the fourth and fifth years of the five years’ curriculum, it is taught for two hours weekly by a doctor of political science, or by another teacher duly qualified by a special examination. At the Polytechnic at Delft there is a chair of economics, but neither is attendance at the course obligatory, nor does it form one of the subjects of examination.

BELGIUM.

By the law of 1890, which provides the regulation for higher instruction, political economy is made obligatory for the attainment of the degree of doctor of laws, a distinction proving a professional qualification, and for the grade of engineer, the course for the former involving some forty-five lectures, that for the latter some fifteen. In both cases the subject is taken in the earlier years of study. Students training for these professions would appear to form the great bulk of those attending economic lectures at the universities. In neither case can the course be said to furnish more than elementary instruction.

The universities have made provision outside these State requirements for more advanced students. The candidates for the degree of doctor of political science have to show a more thorough acquaintance with economic subjects. At the University of Ghent the course which is provided for them is considerably longer; still more stringent regulations prevail at the University of Louvain, for the degree of  ‘docteur en sciences politiques et sociales.’ The important regulations are as follows :—

ART. 5.

Pour être admis à l’épreuve du doctorat il faut:

    1. Avoir acquis depuis une année au moins le grade de docteur en droit.
    2. Avoir pris une inscription générale aux cours du doctorat en sciences politiques et sociales et avoir suivi les cours sur lesquels porte l’épreuve.
    3. Présenter, sous l’approbation du président de l’École, un travail imprimé sur un sujet rentrant dans le cadre du doctorat.

ART. 7.

L’épreuve comprend un examen oral d’une heure et demie. Cet examen porte:—

    1. Sur six branches portées comme principales au programme de l’École.
    2. Sur deux branches au moins choisies parmi celles qui sont portées comme branches libres au programme de l’École ou—avec l’autorisation du président de l’École—parmi celles qui sont portées au programme de l’université.
    3. Sur le travail présenté par le récipiendaire.

The list of lectures for the two years’ curriculum, 1892-3, 1893-4, is as follows :-

For the first year—Histoire parlementaire de la Belgique depuis 1830, la législation ouvrière comparée ; le droit public comparé; de la neutralité de la Belgique et de la Suisse; du régime légal des sociétés commerciales en droit comparé.

For the second year—Histoire diplomatique de l’Europe depuis le Congrès de Vienne; l’Evolution économique au XIXe siècle; les institutions de la France et de l’Allemagne; lé régime colonial et la législation du Congo; les associations en droit comparé.

Seminar or class instruction is given at the universities, though the particular form it takes varies with the other organisation provided, and the character of the students. At the University of Ghent a class supplementary to the lectures is formed, where discussion takes place; at Louvain Professor Brants directs a ‘cours pratique,’1 the members of which (some dozen in number) write treatises, discuss economic movements, and make excursions to centres presenting features of economic interest.

1Conférence d’Économie Sociale. Rapport sur ses travaux, 1891-92. Louvain.

ITALY.

Outside the universities there are in Italy but few institutions which give much instruction in economics. Though courses are delivered at the superior schools of commerce, as, for instance, at Genoa, Venice, and Bari, and the Polytechnic School of Milan, which compare in their nature with those existing at similar places in Austria and Germany, the main aim of such schools, and the limited extent to which they are frequented, prevent them from obtaining any control over the development of economic teaching in the country. It is, then, to the universities that we must look for information as to the methods chiefly employed. At them economics is studied as a subsidiary subject to law, being taken by students in their second year. There are three courses at which attendance, or, to speak more accurately, inscription is obligatory on legal students. In the case of the three obligatory courses the attendance is fairly regular, owing, it is said, to the combined effect of the latitude allowed in the teaching of the subject and the position of the professor as examiner. Without passing the economic examinations students cannot attain to legal degrees. The courses are those in Economic Theory and Administration, Finance, and Statistics. According to the condition of the university these are taught by the same or different teachers, in most cases by the professors who are appointed and paid by the State. In addition to these courses others are given at the option of the teachers, either professors or docents. The attendance at these is not good, though in many cases a large number of students enter themselves as a mark of courtesy towards the lecturer. It costs them nothing, as they pay a compound fee, and it benefits him considerably if a docent, as he receives from the State a payment proportionate to the number of students registered for his courses. In addition to the examination, a candidate for the legal degrees presents a thesis which may, and not infrequently does, deal with some economic subject.1 The study of economics is, moreover, obligatory on students seeking the higher official careers. Many complaints are made as to the position occupied by economic studies in Italy. Their connection with law creates no doubt a certain and a large audience in the lecture room; but, as one Italian professor points out, students do not remain there long enough to acquire anything like a sufficient knowledge of the subject. They come from the schools wholly unprepared, and they leave the university without having undergone a training thorough enough to counterbalance the loose economic notions gathered from their more diligent study of the newspapers. The study of economic facts does not seem to have had sufficient place in the universities of Italy. Attempts are now being made to remedy this defect by the formation of discussion societies among the students of economics, and the encouragement of research into statistical and similar questions.

1Professor Tullio Martello calculates that at the University of Bologna some 15 per cent of those graduating in law present a thesis dealing with economics.

At the minor technical schools lectures are delivered on elementary economics, finance, and statistics.

RUSSIA.

The conditions under which Economics is taught in Russia bear a superficial resemblance to those prevalent in the Latin countries, where it is annexed to the study of law, and pursued very much as a subject of secondary importance. Here, too, it forms part of the regular training through which a jurist must pass in his four years’ curriculum. There are three economic courses which he must attend, and in the subject-matter of which he must display sufficient knowledge in the May State examinations. These are on Economic Theory, Statistics, &c., and Finance. In addition to formal lectures, the professors in charge of the subject may, and sometimes do, organise classes, discussion societies, or seminars, though attendance at these is not obligatory.

The provision for further and more detailed study is considerable. A student who has finished his law studies with a diploma of the first degree can remain in the university, if he wishes, for more special research in one or other subject (Roman law, political economy, private law, financial law, &c.), under the supervision of the special professor or professors. Such a student is examined, and, if successful, obtains the title of magistrandus of the subject in question. Then he must present a dissertation and defend it, after which he obtains the degree of magister. After a second dissertation and disputation he attains the higher degree of doctor of his special subject.

UNITED STATES OF AMERICA.

The conditions under which the study of Economics is carried on in the United States of America are widely different from those which prevail in the countries of continental Europe. On the one hand, there is no inducement held out to students by its inclusion among the subjects of state or professional examinations. On the other, there is evidence in the importance which such subjects have assumed at the universities and colleges of a strong public sentiment in favour of their careful study far exceeding that in existence either in these countries or in the United Kingdom. In one respect the regulations of the colleges have had an important effect, independent of the action which they have taken in respect of the strong public demand. Owing to the freedom of the students in most of these institutions from prescribed and compulsory courses of study in most stages of their career, Economics has escaped being relegated, as, for instance, in England, to the position of a subject outside the usual curriculum, and optional only in some one or, perhaps, two stages. Where such prescription does exist it is not deemed a subject necessarily unfit to form part of a compulsory general course. Its inclusion, to some extent, would probably be demanded by the strong public opinion which has grown up during the past twenty years.

The causes of the popularity of Economics are stated with fair unanimity by various writers, though their respective importance is very differently estimated. In the first place, the very novelty of economic studies is itself in favour of their ardent prosecution. Till comparatively recently, it has been said till between 1870 and 1880, they were disregarded because unknown. Now they are seized, studied, and followed because they offer, or seem to offer, an explanation of the vast and complex economic condition which is in process of rapid evolution in this country at once so great and so new. So, too, in England some half century back or more the theories of the economists of that time were received by large numbers as an intellectual gospel. But in the next place the circumstances attending this ‘novelty’ of study have considerable consequences. That the study of Economics is a novel study is important, but it is of equal importance that it is novel at the present time and under present conditions. The American economists have not to shake off the half-uttered, half-silent opprobrium attached to their subject through the action of the more numerous though less conspicuous of their predecessors in their rigid adherence to incomplete or ill-founded theories. They are fortunate in entering upon their teaching at a time when the need of inductive inquiry and training is more fully recognised. This gives a more systematic aspect to the economic instruction demanded from them than was the case in England. In the third place, the campaign in favour of civil service and tariff reform has drawn a great deal of attention to those departments which deal with finance and the more prominent aspects of political life. Lastly, it is urged that the political eagerness which so largely affects the younger generation of Americans combines with the foregoing to crowd the economic lecture rooms with anxious and willing students. Economics is needed by politicians, and ‘we are all politicians,’ writes one professor; it is needed by journalists both because they are keen for political knowledge themselves and because they write for politicians.

The same causes which stimulate economic students have often led to its connection with political science, with history, and in some instances with general sociology.

Returns from several of the universities show the large number of students who attend economic lectures, and the comparatively large number who pass into advanced courses. The universities differ so much among themselves that no common standard of teaching exists. In some the elementary courses are very elementary, in others more thorough than might be concluded from the name. Thus at Harvard these include a study of Mill’s ‘Principles of Political Economy,’ lectures on general theory, or on what is termed descriptive economics, including a survey of financial legislation, while in addition a course is provided on the Economic History of England and America since the Seven Years’ War. In some cases a great part of the junior work consists in the use of text-books, and proceeds rather by class instruction and interrogation than by lecture. Turning to the consideration of the courses organised for the more advanced students, it is highly satisfactory to note the very considerable proportion which these form of the total number engaged in economic study. According to the information collected from various quarters, at Harvard they amount to some 38 per cent; at Columbia College to 41 per cent; at Cornell to 26 per cent. At some others they do not present so favourable an appearance, though at Michigan I am informed that the twenty returned as ‘advanced’ consists entirely of very advanced students, all the others being included under the heading of elementary. No doubt students described as advanced at one institution may not be so regarded at others, for, as has been already suggested, these vary very greatly as regards both their courses and the attainments of their students. With regard to the former, those provided at some of the better known and more highly developed and equipped universities afford a description of the nature of the training offered in the United States. At Harvard the advanced courses for the year 1892–93 are as follows:—

Full courses

    • Economy Theory—Examination of Selections from leading writers.
    • The Principles of Sociology—Development of the Modern State and its Social Functions.
    • The Social and Economic Condition of Working Men in the United States and in other Countries.
    • The Economic History of Europe and America, to 1763.

Half-courses

    • History of Tariff Legislation in the United States.
    • Railway Transportation.
    • The Theory and Methods of Taxation.
    • History of Economic Theory down to Adam Smith.
    • History of Financial Legislation in the United States.

At Columbia College the courses are as follows:—

    • Elements of Political Economy.
    • Historical and Practical Economics.
    • History of Economic Theories.
    • Science of Finance.
    • Science of Statistics.
    • Railway Problems.
    • Financial History of the United States.
    • Tariff and Industrial History of the United States.
    • Communism and Socialism.
    • Taxation and Distribution.
    • Sociology.

At Cornell the lectures which succeed the purely elementary ones are not quite so full, but consist of courses on—

    • Economic Reforms.
    • Finance.
    • Economic Legislation.
    • Statistics.
    • Economic History.
    • Financial History of the United States.

There are few universities which do not offer some courses beyond these on elementary theory and history. As a rule, finance and some other branch of applied economics are added. Where graduate schools have been established, as, for instance, at Harvard and at Michigan, the study proceeds very much on the lines indicated above, so far as the former is concerned. At Michigan, the advanced courses are distinguished into intermediate and graduate. Intermediate courses treat of the following:—The Transportation Problem. Principles of the Science of Finance. Theory of Statistics. History and Principles of Currency and Banking. History of the Tariff in the United States. History and Theory of Land Tenure and Agrarian Movements. Industrial and Commercial Development of the United States. History and Theory of Socialism and Communism. History of Political Economy. Graduate courses:–Critical Analysis of Economic Thought. Critical Examination of the Labour Problem and the Monopoly Problem.

Most universities have, in addition, established seminars, where study proceeds on the lines with which continental students are familiar. Individual members, in most instances graduates, and all advanced students, undertake particular subjects on which they prepare reports or treatises to be read and discussed at the weekly meeting. During their researches they are more or less under the direction of the professor or teacher who undertakes the courses in connection with the department of economics under which their subject falls. At Yale there are two seminaries and one discussion society; at Columbia College there is one for students who have studied only one year, two (in Economics and Finance) for those who are more advanced. The value of the work produced differs, of course, with the character of the university. At Harvard and the other more highly developed universities it is naturally very high.

In certain other countries the attention given to the subject of Economics demands for different reasons less detailed notice. In some instances the resemblance to countries already described renders further description superfluous; in others the geographical limitations of the country, or the comparative absence of opportunities for such special branches of the higher education, necessitate a much slighter notice than that given to the foregoing countries.

In Spain the connection between economic and legal studies is very similar to that existing in Italy. Students of the first and second year attend courses in Economics and Finance, Statistics being apparently nowhere insisted upon. At some of the universities an attempt is made to supplement these elementary courses by conferences and by visits, both to industrial undertakings, as factories, mines, &c., and to financial establishments, as banks; while the introduction of sociological institutes or seminars is looked for at others, as, for instance, at Oviedo.

In Sweden ‘there are two professors of political economy, one at the University of Upsala, one at the University of Lund, both belonging to the Faculty of Law, and teaching in addition to Political Economy some purely juridical subjects. There are also two professors in Politics and Statistics, one at Upsala, one at Lund, both belonging to the Faculty of Arts, and teaching at their discretion, Public Law, either Swedish or foreign, and Statistics.’ ‘The two professors of Political Economy in the Faculty of Law have to prepare and examine all the students who go in for the State examinations for entrance to the different branches of the civil service. But as Political Economy possesses very little importance in any of the three forms of these examinations, as compared with Jurisprudence, little stress is laid on its study in this faculty. Of the two other professors, one (at Upsala) lectures chiefly on Politics, the other on Statistics, both these studies being optional for the two arts degrees. The theory of Political Economy is not taught. Seminar instruction is arranged to supplement that given in the lecture courses.

In Norway, at the University of Christiania, the system is nearly identical with that of Sweden. There, too, it is found that, owing to the complete subordination of Economics to Law, the knowledge required is elementary in character.

The same impulses which direct the attention of young Americans to the study of Economics are felt in Canada. At the University of Toronto the importance attached to such studies is adequately shown by the large attendances present at the several courses. These courses are carefully arranged and graduated so as to furnish the student with a sound knowledge of the various branches of the subject, and to fit him to undertake, as he is expected to do in his latter years, research into some branch of economic fact.

In Switzerland, the position held by economic studies is, on the whole, at least as favourable as that in the southern countries of Germany. A knowledge of Economics is obligatory on those entering the legal profession, while, owing to the arrangements made, the duty of examining the candidates may, and in practice, I believe, does fall largely on the university professors. Moreover, in the university curricula, the place of economics, so far as Berne is concerned, is very fortunate. True, the subject is optional, as indeed are all subjects for the doctorate, but it may be taken for either the legal or the philosophical doctorate (Dr. Juris, or Dr. Phil.). At the Zürich Polytechnicon it is taught, being obligatory in some form or other for the diplomas of forestry and agriculture. In addition there is a fair voluntary attendance at these lectures. The system of instruction presents no features requiring particular notice. The chief courses are on National Economy and Finance, with the frequent addition of Practical Economics. These are supplemented by special courses at the option of the teacher, and by the seminar.

 

APPENDIX II.

On Economic Studies in France.
By Henry Higgs.

Economic teaching in France, so far as it consists of lectures regularly delivered at the same place by the same person, is to be looked for in—

(i.) The Collège de France, Paris;

(ii.) The Conservatoire des Arts et Métiers, Paris;

(iii.) The Université de France, consisting of the aggregate of local ‘universities,’ or faculties officially recognised, in Paris and the provinces;

(iv.) The free or unofficial faculties and schools in Paris and the provinces, including all the Catholic ‘universities’ (which cannot come to terms with the State on the question of the faculty of theology), the École Libre des Sciences Politiques, Paris, and others.

A certain amount of economic instruction is also imparted in the Écoles supérieures du Commerce, generally endowed by the municipalities of commercial towns. Elementary notions of Economics are officially prescribed as part of the programme of elementary schools.

(i.) It is at the Collège de France that one expects to find leading teachers of Economics in France. The traditions of its chair (which was founded in 1830), and the authority vested in its occupants, added to the attractions of a scientific post in Paris, have been a sufficient inducement for the most eminent economists to offer themselves for appointment here. The stimulus of contact with growing, vigorous, and inquiring minds is not, however, afforded to the professors, and they have to fight against a tendency to fall into prosy sermons and easy repetitions of old theory. No fees are charged to the students, nor is any record kept of their names unless they wish to obtain certificates. The lectures are delivered twice a week (two on Economics by M. Leroy-Beaulieu, and two on Statistics by M. Levasseur), in the afternoons. The auditors are for the most part a casual collection of shifting persons, of whom many are foreigners passing through Paris, who attend once or twice out of curiosity to see the lecturer. There is no discussion either during or after the lectures. The professors are paid a fixed stipend by the State. They appear to regard their lectures in the main as vehicles for the dissemination of generally received economic theory. So far, however, as they employ their leisure in prosecuting original research, their stipends may be regarded as an endowment for the advancement of Economics. Their personal examples are stimulating. It would be difficult to mention two more active economists in Europe. But in their lectures they are perhaps too dogmatic to supply students with the zest of grappling with ‘unsettled questions,’ or with the incentive to enlarge, however little, the bounds of knowledge by pointing out to their hearers the frontiers of ignorance which are often in sight.

(ii.) The oldest chair of Political Economy is in the Conservatoire des Arts et Métiers, and was first filled, in 1819, by J. B. Say. The instruction now given here is of a more popular character, consisting of lectures addressed to the working classes at a late hour of the evening. M. Levasseur delivers a five-year cycle of about fifty lectures a year on Economics, and M. de Foville a four-year cycle on Industry and Statistics. There are on the average from 300 to 400 auditors. They pay no fees. The professors are appointed and paid by the Government.

(iii.) By a law passed in 1877 Economics was for the first time officially incorporated into the organisation of higher education in France, by being made an obligatory subject in the second year’s studies of the faculties of law. Economics in France has, it is said, laboured under the disadvantage of offering no opening for a career. On the other hand, the youth of the country flock to the schools of law, for to lawyers all careers are open— politics, journalism, literature, education, legal practice, and many official appointments. The professor of law is overworked, and the professor of Economics underworked. The faculty of law, therefore, generally expects of its professor of Economics that he shall be able to help in legal instruction and examinations; and there has been a tendency to select a lawyer rather than an economist for these chairs. This reproach, however, is rapidly being removed, and the new professors of Economics are in many cases vigorous and promising in their proper spheres. Economics has recently been transferred from the second to the first year’s programme. The law students are said to show a better intelligence of law now that they also study Economics. It can hardly yet be stated what effect this organisation will produce on Economics itself.

In addition to this obligatory study, Economics may be taken as one of the eight optional courses at a later period of preparation in the law faculties. For this purpose there is generally a special course of lectures on Finance, in which financial legislation is a prominent topic; but the option in favour of Economics is not much exercised.

The professors and lecturers in Economics and (in italics) in Finance in the official faculties of law are as follows:—

Paris. MM. Beauregard, Alglave and Ducrocq; Fernand Faure (Statistics); Planiol (Industrial Legislation); Maroussem (Monographs).
Aix: M. Perreau.
Bordeaux: MM. St. Marc, de Boech.
Caen: MM. Willey, Lebret.
Dijon: MM. Mongin, Lucas.
Grenoble: MM. Rambaud, Wahl.
Lille: MM. Deschamps, Artus.
Lyons: MM. Rougier, Berthélémy.
Montpellier: MM. Gide, Glaise.
Nancy: M. Garnier.
Poitiers: MM. Bussonnet, Petit.
Rennes: MM. Turgeon, Charveau.
Toulouse: M. Arnault.

There are also at Montpellier lectures on industrial legislation by M. Laborde.

(iv.) The position of the Catholic ‘universities’ has already been referred to. While following the lead of the State in associating economics with law, they have the advantage of recruiting among their students a large number of those who desire to enter the Church with a training in economic science as an aid to the study of social problems. The respective professors are MM. Jannet (Paris), Baugas (Angers), Béchaud (Lille), Rambaud (Lyons), and Peyron (Marseilles).

The École Libre des Sciences Politiques, Paris, directed by M. Boutmy, is perhaps the most hopeful academic institution in France for the promotion of economic study. Lectures are given by MM. Cheysson (Economics); Stourm, Dubois de Lestang, Plaffin, Courtin (Finance); Levasseur (Statistics); Dunoyer (History of Economics since Adam Smith); Arnauné Foreign Trade and Customs Laws); Lévy (Banking); P. Leroy-Beaulieu (Colonial Systems); Paulet (Industrial Legislation); and Guieysse (Industrial Problems). In addition to these lectures, which are well attended by paying students, there are discussions and classes for original work on the seminar plan. Travelling scholarships are also given, and excellent work is done, to which the general scheme of instruction largely contributes. The primary function of the school is the thorough intellectual equipment of young officials for the State. Foreign languages, travel, and comparative study of laws and social institutions are encouraged, together with an intelligent interest in history and politics. The personal assistance rendered to individual students by the professors, the seminar, and the scholarships, the comprehensive breadth of view, and the rigid impar. tiality of this school are, as yet, unique in France.

Other economic lectures in Paris which require mention are those of M. Colson, at the École Nationale des Ponts et Chaussées (where the Government non-military engineers and road surveyors are trained), of M. Cheysson at the École Nationale des Mines (also under Government), of M. F. Passy at the École des Hautes Études Commerciales (endowed by the municipality), of M. Émile Chevallier, &c. Lectures (by M. Guérin) are organised by the Société dEconomie Sociale, founded by Le Play. M. Demolins, the leader of a secession from this school, also delivers a course of lectures. There is, on the whole, too much diffusion of separate economic lectures in Paris.

An impressive plea has lately been published by M. Chailley-Bert for the recognition of distinct economic faculties, and for such endowments as will spare professors from the need of spending their time and brains upon accessory sources of income.

APPENDIX III.

On the Condition of Economic Studies
in the United Kingdom.
By E.C.K. Gonner.

Though the full extent of the disadvantages under which economic study in this country suffers can only be realised from a fairly detailed account of its position in the various universities and with relation to certain professions, it will not be out of place to preface this report with a few words as to their nature.

(a) In the first place it is a matter of serious concern that economics is not regarded as a necessary part of any professional curriculum. This particular hardship, however, might be faced with comparative equanimity were there existent in this country, as for instance in the United States of America, a strong body of popular feeling in support of its study and its efficient teaching. But, despite frequent assertions to the contrary, I believe, and in this I shall have the concurrence of many colleagues engaged in teaching, that there is no such body of feeling. Its absence has been variously accounted for. To a great extent it is no doubt part of the legacy of distrust and misunderstanding due to the false view of Economics placed before a former generation, and it will probably be a long time before the popular conception of an economist as a compound of text-book theory and ignorance of fact can be entirely dispelled.

(b) Owing largely to the early prominence of the abstract school of economic thought in England the position which the subject holds in the University curricula is far from satisfactory. It is treated as a subject narrow in scope and subordinate—necessarily and naturally subordinate— to other subjects. But this is by no means the position which it should hold, and now that the importance of the studies of economic fact and administration is more clearly seen, the impossibility of effective teaching within the prescribed lines has become glaringly apparent. At present indeed English economic teaching is without a regular system. It is usually supposed that prescribed University courses should offer a means of systematic training in the various subjects, the pass courses of ordinary training, the honours courses of advanced and thorough training. So far as Economics is concerned, this is precisely what the Universities do not provide. With one possible exception they offer at the present time little more than isolated opportunities of showing economic knowledge in examinations primarily devoted to other subjects.

In the United Kingdom the encouragement of the study of Economics rests entirely with educational bodies. So far as professional examinations and curricula are concerned it meets with almost universal neglect. This is wholly so with regard to the examinations qualifying for the practice of law, either as barrister or solicitor, and partly so in the case of the Civil Service Examinations. For these latter Economics may be taken up, as may almost any other subject included in the Sciences and Arts. It is not recognised, that is to say, as more cognate to the administrative callings for which these examinations qualify, than is Chemistry, for instance; indeed, in comparison with many of these other subjects it is at a discount owing to the smaller maximum of marks assigned to it. In other words, it is excluded from the legal curriculum; in the Civil Service Examinations it is an optional but not an important subject. Elementary Political Economy is one of the optional subjects in the examination for chartered accountants, and is obligatory on candidates for the voluntary examination recently instituted by the Institute of Bankers.

At the Universities it receives an insufficient recognition in the degree courses, but as its position varies a great deal a brief summary of the usages of the various Universities with regard to it may be given. Degrees are granted in England by the five Universities of Oxford, Cambridge, Durham, London, and Victoria; in Scotland by the Universities of Edinburgh, Glasgow, Aberdeen, and St. Andrews; in Ireland by Trinity College and the Royal University of Ireland.

ENGLAND.

At Oxford it is an optional subject which may be taken up as one of the three selected subjects for the pass B.A. degree. As studied for this examination it is mainly elementary and largely theoretical, many of the questions relating to certain prescribed portions of the works of Adam Smith and Walker. To pass this examination, for which the yearly number of candidates presents an average of two hundred, demands common sense and a fair general acquaintance with leading Economic topics. A paper on Economics is included among those set in the Honour School of Modern History.

At Cambridge the position occupied by Economics in the University curricula is far more satisfactory. In some shape or other it forms part of three degree examinations. All candidates for the ordinary pass B.A., after passing the general examination, have to take up a special subject for their concluding study. Of these, sixteen in all, there are seven arts special subjects, one of which is Economics. The special examination in Economics (Political Economy) consists of two parts, which may be taken at separate times:—

Part I.—Three papers.

    • Two in General Economic Theory.
    • One in Economic History.

Part II.—Three papers.

    • Two in Taxation and Economic Functions of Government, with History of Trade and Finance, 1760–1860.
    • One in General Theory of Law and Government.

In the Moral Science Tripos (Honour B.A.) there are six obligatory papers, two being assigned to Political Economy (i.e. Theory), while in addition advanced Political Economy ranks as one of the optional subjects, two of which must be passed in by a candidate desirous of being classed. Lastly, in the Historical Tripos (Honour B.A.), one paper is in Economic History, the paper on general History of England also being supposed to require some Economic knowledge. Further, candidates who desire it may take Political Economy and theory of Government with International Law as an alternative to the study of a second special subject. Of these three examinations the one which seems most satisfactory, so far as Economics is concerned, is the special for the pass B.A., which embraces at once the four important branches of administrative, theoretical, historical, and financial Economics, and it is to be regretted that it has not yet been possible to organise an Honour examination on corresponding lines, but wider and more advanced. Were such in existence it would furnish English students with similar encouragement to systematic study and similar opportunities to those provided in the better developed Continental schools.

In the University of Durham, in addition to the obligatory subjects, two optional subjects have to be chosen by candidates for the degree. These are selected out of a number of subjects, of which Economics is one. The knowledge required is not of an advanced nature.

In the University of London Economics holds no position but the somewhat unfortunate one of an optional subject for candidates proceeding from the B.A. to the M.A. degree in Moral Science, a position which at once restricts the number of students likely to study it, and prevents its study from extending beyond the knowledge of general theory. It is not a subject, either optional or obligatory, at any other examination.

In the Victoria University Economics, comprising Political Economy and Economic History, forms one of the twelve optional subjects, of which two have to be selected for the final year of study by candidates for the pass B.A. degree, the two other subjects being more or less restricted. Economic Theory or History may also be taken in conjunction with Modern History as one subject by candidates who wish, for instance, to take Modern History but not Ancient History. As, however, nearly all the other subjects are, with some difference of standard or period, subjects at the Intermediate or Second-year Examination, in some instances compulsory, and again in certain cases subjects at the final examination, the study of Economics, involving as it does the entry of the student upon a wholly new subject during his final year, is naturally discouraged. Further, Economic Theory (Political Economy), like any other arts or science subject, may, by permission, be substituted for one of the two selected general subjects, Ethics or Modern History, at the intermediate stage of the Law degree (LL.B.). A course of lectures in Political Economy has to be attended by candidates for the Honours degree in History. It is not a subject in the examination.

SCOTLAND.

By the regulations of the Commission applicable to all Scotch Universities Economics holds a two-fold position.

(a) With regard to the ordinary M.A. examination, it is one of the three optional subjects which have to be selected out of the usual arts and science subjects. In all, seven subjects must be taken, but of these four are more or less prescribed. The course which must be attended consists of at least 100 lectures.

(b) It is further a compulsory subject for the first examination for the Agricultural B.Sc. In this case the knowledge required is much slighter, and naturally much more closely related to rural economy.

IRELAND.

At Trinity College Economics is part of one of the seven groups in which the Honour degree may be taken, the other subjects in this group being History and Law. All candidates for the law degree must be graduates in Arts, but not necessarily graduates in honours, or if in honours, in this particular group. It is also included among the options for the pass degree.

In the Royal University of Ireland Economics (Political Economy) is an alternative with Ethics in one of the three groups, one of which must be passed by candidates for the ordinary pass B.A. In the examinations for the Honour degree (B.A.) it, with Civil and Constitutional History and General Jurisprudence, constitutes one of the six groups open to the student. It holds a very similar position in the examination for the M.A. degree.

—————————

The foregoing account shows clearly how little opportunity is given for the systematic study of Economics as a preliminary to degree examination, and especially in the case of honours. It is certainly very unfortunate that an able student anxious to graduate in honours is almost precluded from devoting a large amount of attention to the study of Economics.

In face of this tacit discouragement, so far as examinations are concerned, the provision for teaching made in many places by colleges and universities is almost a matter for surprise. At both Cambridge and Oxford it is satisfactory in all but one respect. It is varied, copious and comprehensive, but—and this is a matter of regret—it is not systematic. At each of these universities there is a professor engaged in active teaching, while other lecture courses are provided by college lecturers. At the universities and colleges in the rest of England the provision for teaching is of necessity less complete. At those best equipped, instruction in Economics depends on the energy and vigour of a single teacher, supplemented, perhaps, by an occasional course of lectures by some other Economist, while at the rest, if taught at all, it is attached to the duties of a teacher principally engaged in, and probably principally interested in, teaching some other subject, for, as a general rule, the teaching of Economics in conjunction with some other subject has meant little more than that the teacher of some other subject has had to give a course of lectures on General Economics. At two of the three colleges of the Victoria University Economics has separate teachers, at Liverpool one holding the rank of professor, at Manchester one holding that of a lecturer. At Leeds, on the other hand, there is no teacher of Economics. At the other university colleges in England the two London colleges possess each a professor, though the professor at King’s College delivers Economic lectures only during the six winter months. At the University College, Nottingham, Economic lectures are delivered by a professor at the same time engaged in teaching history and literature. The other colleges (Birmingham, Bristol, Sheffield, and Newcastle) at present make no provision for teaching a subject which they find so discounted as a subject for examination.

In Wales two of the University Colleges (Aberystwith and Cardiff) have made some sort of provision for Economic teaching by the appoint. ment of lecturers in History and Political Economy, while at Bangor Economics is tacked on to the duties of the Professor of Moral Philosophy.

In Scotland there is a fully instituted chair of Political Economy at the University of Edinburgh, and measures are in progress for the endowment of a Professorship at Glasgow, where the Economic work has recently been performed by a lecturer acting as assistant to the Professor of Moral Philosophy. At St. Andrews a yearly course of lectures is delivered by the Professor of Moral Philosophy.

In Ireland, at Trinity College, Dublin, there is a Professorship of Economics. At the Queen’s Colleges of Belfast, Cork, and Galway this teaching is combined with that of Jurisprudence, and limited to a very short portion of the year. Owing to the great differences existing between the courses delivered at the various institutions, and the entirely diverse character of the respective audiences, it is impossible to give any satisfactory statistics of attendance. From most quarters come complaints. Indeed, with the two possible exceptions of Oxford and Cambridge, it is difficult to imagine a more complete indifference to the scientific study of Economics than that displayed at the present time.

In addition to lectures, more informal instruction is often imparted to more advanced students, but the formation of a seminar in Economics has been undertaken but seldom, if at all. That this is due not to lack of will on the part of the teachers in those colleges where Economic teaching is entrusted to a separate teacher, but mainly to the singular deficiency in advanced or even moderately advanced students, is shown by the readiness with which individual instruction, often involving much sacrifice of time, is given to such students when they do present themselves. Such an institution can be successfully introduced only when Economic studies are so recognised as to be able to attract the abler students in a university or college.

Attempts to develop popular Economic instruction by means of evening classes, and separate courses of lectures, have been made by the University Colleges and other institutions, and by the Societies for the Extension of University Teaching; and at some of the former particular attention has been paid to the Economic teaching, noticeably at Owens College, Manchester, and University College, Liverpool. The class of students attracted to these lectures may be spoken of very favourably. From the reports and information supplied by the Societies, it would seem that though the attendance at Economic courses, when given, is good, the demand for them is not very great. The interest shown in the subject in some one or other of its branches is said to be reviving—certainly to be greater than it was some few years ago. There has been a decided increase in the demand for lectures on Economics, and subjects partially economic, during the last two years.

Economic studies in England require at the present time organisation and encouragement. As to the ability of English Economists and the quality of their contributions there can be no doubt; but, when compared with continental countries, England is sadly lacking in the number of Economic students. Where they have many, she has few. As has been said, this is largely due to the unfortunate positions to which Economics has been relegated in many Universities, and its neglect so far as professional callings are concerned. On the other hand, the revival of interest in Economic matters, so abundantly manifested, makes it more than ever desirable to provide means and opportunities for sound scientific training.

Source: Methods of Economic Training in this and other Countries. Report of the Cunningham Committee, Report of the Sixty-Fourth Meeting of the British Association for the Advancement of Science held at Oxford in August 1894, pp. 365-391.

Also: at the Biodiversity Heritage Library Website; and at Harvard College Library, Gift of the Overseers Committee to visit the Department of Economics.

Image Source: William Cunningham page at the Trinity College Chapel website.

 

Categories
Harvard Seminar Speakers

Harvard. Economics Seminary and Public Lectures. Speakers and Topics, 1913-1914

The economics seminary at Harvard featured a dozen speakers over the course of the 1913-14 academic year.  The department invited 27 year-old Josef Schumpeter (Theory of Crises) from the University of Vienna.

I have included the dates for two sets of major public guest lectures that were given by Wesley C. Mitchell (Business Cycles) and E. Dana Durand (Anti-trust and regulation), respectively.

Earlier posts with information on the Seminary of Economics at Harvard:

Seminary of Economics 1897-1898.

Seminary of Economics 1891/92-1907/08.

Request by Radcliffe Women to attend the Seminary of Economics, 1926.

Seminary of Economics 1929-1932.

_______________________

Monday, Sept. 29, 1913

Seminary of Economics. Meeting for Organization. Upper Dane, 4.30 p.m. All Graduate Students in Economics are invited to attend.

Source: Harvard University Gazette, Vol. IX, No. 2. Sept. 26, 1913, p. 7.

Monday, Oct. 20, 1913

Seminary of Economics. “The Administration of the State-Owned Railways of Prussia.” Professor W. J. Cunningham. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 5. Oct. 18, 1913, p. 27.

Monday, Nov. 3, 1913

Seminary of Economics. “The Organization of the Grain Trade on the Pacific Coast.” Mr. Wilfred Eldred. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 7. Nov. 1, 1913, p. 39.

Monday, Nov. 17, 1913

Seminary of Economics. “The German Potash Syndicate.” Mr. H. R. Tosdal. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 9. Nov. 15, 1913, p. 57.

Monday, Dec. 1, 1913

Seminary of Economics. “Pisan Industry in the Early Fourteenth Century.” Mr. F. C. Dietz. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 11. Nov. 29, 1913, p. 65.

Thursday/Friday, Dec. 4/5, 1913

Lectures. “Business Cycles. I and II.” Dr. Wesley C. Mitchell, formerly Professor of Political Economy at the University of California. (I) Emerson A, 4.30 p.m.; (II) Emerson A, 4.30 p.m.
These lectures, though addressed primarily to graduate students of Economics and students in the Graduate School of Business Administration, will be open to the public.

Source: Harvard University Gazette, Vol. IX, No. 11. Nov. 29, 1913, p. 66.

Monday, Dec. 13, 1913

Seminary of Economics. “New Jersey Business Corporations and Corporation Policy, 1791-1820.” Dr. J. S. Davis. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 13. Dec. 13, 1913, p. 81.

Monday, Jan. 12, 1914

Seminary of Economics. “The Development of Capital and National Wealth in Germany.” Professor Karl Rathgen, of the University of Hamburg. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 17. Jan. 10, 1914, p. 109.

Monday, Feb. 9, 1914

Seminary of Economics. “Some Aspects of the Quantity Theory of Money.” Professor Anderson. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 21. Feb. 7, 1914, p. 131.

Monday, Mar. 2, 1914

Seminary of Economics. “Some Aspects of the Quantity Theory of Money.” Professor Taussig. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 24. Feb. 28, 1914, p. 153.

Monday, Mar. 16, 1914

Seminary of Economics. “The Theory of Crises.” Professor Josef Schumpeter, of the University of Vienna. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 26. Mar. 14, 1914, p. 167.

Monday, Mar. 23, 1914

Seminary of Economics. “Recent Experience in Railroad Construction Finance.” Professor Ripley. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 27. Mar. 21, 1914, p. 173.

Monday, Apr. 6, 1914

Seminary of Economics. “International Trade Balances.” Dr. G.W. Nasmyth. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 29. Apr. 4, 1914, p. 185.

Monday/Tuesday, Apr. 13/14, 1914

Lectures. “What Shall We do with the Trusts? I. The Necessity of Regulation of Prohibition.” (Emerson D, 8 p.m.)  and II. “Possibility of Preventing Combination and Difficulties of Regulation.” (Emerson D, 11 a.m.) Professor E. Dana Durand, of the University of Minnesota.

Source: Harvard University Gazette, Vol. IX, No. 30. Apr. 11, 1914, p. 195.

Monday, May 25, 1914

Seminary of Economics. “United States Forest Policy.” Mr. John Ise. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. IX, No. 36. May 25, 1914, p. 231.

Image Source: Karl Rathgen: Fotosammlung des Geographischen Institutes der Humboldt-Universität Berlin.    Schumpeter: Ulrich Hedtke, Joseph Alois Schumpeter. Archive.

 

 

 

 

Categories
Exam Questions Harvard Syllabus

Harvard. Economics of Transportation and Public Utilities. Exams, Readings for Public Utilities. Crum, Cunningham, C.O. Ruggles, 1940-41

 

 

 

The following course on public utilities and transporation regulation was co-taught by William Leonard Crum, professor of statistics in the department of economics, William J. Cunningham, professor of railroad operations and transportation at the Graduate School of Business, and  Clyde Orval Ruggles, professor of public utility management at the Graduate School of Business.

Cunningham was a member of the original faculty of the Harvard Business School, having gone from working in railroad management and administration to teaching railroad operations. He had an honorary A.M. degree from Harvard in 1921 but apparently never possessed another formal academic credential (other than an honorary D.Sc. awarded him upon his 1946 retirement by the Clarkson College of Technology).

The only part of the course syllabus in the Harvard Archives’ course folder was for the portion taught by Professor Ruggles, transcribed below.

Looking for other biographical information about William J. Cunningham, I just discovered that there is a folder with course material at Harvard Business School’s Baker Library: Baker Library Special Collections, Harvard Business School, Harvard University William J. Cunningham papers Series II. Teaching Records, 1920-1941 Economics 163, 1940-1941.

_____________________________

Course Announcement

Economics 163. Economics of Public Utilities (including Transportation). Mon., Wed., at 4, and a third hour at the pleasure of the instructors. Professors Crum, Cunningham, and Ruggles.

This course deals with the economic problems of the Public Utility industries including railways. Attention is given to rates and rate structures, valuation, the issue and regulation of securities, utility managements, the relation of the commissions to the courts, and public ownership of utility enterprises.

Source: Division of History, Government, and Economics containing an Announcement for 1940-41. Official Register of Harvard University, Vol. XXXVII No. 51 (August 15, 1940), p. 62.

_____________________________

Course Enrollment

[Economics] 163. Professors Crum, Cunningham and Ruggles. — Economics of Public Utilities (including Transportation).

Total 18: 9 Graduates, 7 Seniors, 2 Radcliffe.

Source: Harvard University. Report of the President of Harvard College, 1940-41, p. 60.

 

_____________________________

READINGS FOR ECONOMICS 163

[Note: only for the Ruggles’ portion of the course]

Unless otherwise indicated, all references marked with the asterisk are required.

March 17

Legal and Economic Criteria Regarding the Public Utility Concept.

Read three of the following marked with the asterisk:

*Clay, C. M. Regulation of Public Utilities (1932). Part I, pp. 3-130.

*Jones & Bigham. Principles of Public Utilities (1931). Chapter II, “Characteristics of Public Utilities,” pp. 62-101.

*Wilson, Herring and Eutsler. Public Utility Industries. Chapter I, “The Characteristics of Public Utilities,” pp. 1-25.

Glaeser, Outlines of Public Utility Economics (1927).  Chapter I, “Nature and Scope of Public Utility Economics,” pp. 1-22.

*Thompson and Smith, Public Utility Economics (1941). Chapter IV, “What Is a Public Utility?” pp. 56-74;  Chapter V, “Economic Characteristics of Public Utilities,” pp. 75-98.

March 19

Competition, Load Factor, Output, and Economic Conditions as Affecting Rate Making.

*Behling, B.N. Competition and Monopoly in Public Utility Industries (University of Illinois Press, 1938). A Ph.D. thesis, p. 175.

*Bernstein, E.M. Public Utility Rate Making and the Price Level (1937). Chapter IX, “Rate Making in Prosperity and Depression,” pp. 105-119.

*Clark, J.M. Studies in the Economics of Overhead Costs (1923). Chapter XVI, “Public Utilities,” pp. 318-334.

Eisenmenger, H.E. Central Station Rates in Theory and Practice (1921). Appendix II, Explanation of the Terms “Load Curve” and “Load Factor” (For the Non-technical Reader), pp. 260-266.

Hardy, C. O. Recent Growth of the Electric Light and Power Industry. The Brookings Institution, Pamphlet Series Vol. I, No. 1, April, 1929, p. 60.

March 24

Rate Structures; Reasonableness of Rates; Theory of Rate Making in the TVA Act.

*Nash, L.R. Rate Structures (1933). Chapter II, “Rate Classifications and Forms,” pp. 11-29; Chapter IX, “Promotional Rates,” pp. 152-197; and Chapter XIII, “Economic Factors in Rate Making,” pp. 296-330.

*Jones and Bigham. Op. Cit. Chapters VII and VIII, “Rate Structures,” pp. 288-386.

*Bauer. Effective Regulation of Public Utilities (1925). Chapter XI, “Rate Schedules,” pp. 275-301.

Barker, H. Public Utility Rates (1917). Chapter III, “Various Bases for Rates,” pp. 10-17.

Bryant and Hermann. Elements of Utility Rate Determination (1940).

Eisenmenger, H.E. Op. Cit. Section II, “The Price of Electric Service,“ pp. 62-102.

March 26

Discrimination in Rate Making; Service and Minimum Charges.

*Havilik, H.F. Service Charges in Gas and Electric Rates (1938). A Ph.D. thesis, Columbia University, p. 234.

*Kennedy, W.F. The Objective Rate Plan (1937, Columbia University Press), p. 83.

Nichols, E. Public Utility Service and Discrimination (1928). Chapter XXVII, “Discrimination in Rates Generally,” pp. 856-901; Chapter XXVIII, “Rate Discrimination in Favor of Particular Classes,” pp. 902-934; Chapter XIX, “Rate Discrimination in Favor of Public Welfare, Educational, and Social Organizations,” pp. 935-949; Chapter XXX, “Rate Discrimination in Favor of Contract Holders of Equipment,” pp. 950-966; Chapter XXXI, “Rate Discrimination in Favor of Large Consumers and Industrial and Commercial Enterprises,” pp. 967-975.

Batson. The Price Policies of German Public Utility Undertakings (1933). Chapter IX, “Electricity-Supply Charges,” pp. 143-182; Chapter XII, “Conclusion,” pp. 213-216.

April 7

The Geographical Unit for Rate Making; Municipal, Statewide, and Regional Uniformity in Rates.

*Decision of Wisconsin Supreme Court in Eau Claire v. Railroad Commission. Public Utility Reports (P.U.R.) 1922 D666.

*Georgia and Alabama Commissions Install Uniform Electric Rates. Public Utility Fortnightly, Vol. IV, pp. 773-774 (1929).

*Decision of the Pennsylvania Superior Court in Borough of Ambridge v. Pennsylvania Commission, 31 P.U.R. (N.S.) 50. (1939).

*Annual Report, Secretary of the Interior, 1938, p. 84 (Bonneville Rates).

*Commissioner Maltbie’s (New York) Criticism of Implications in Federal Power Commission’s Data on Public Utility Rates. Electrical World, January 14, 1939, p. 112.

*Statement of Chairman of Tennessee Rural Electrification Authority. Public Utility Fortnightly, Vol. XXV, p. 631 (May 9, 1940).

*Bonbright, J.C. Price Policy and Price Behavior. Papers and Proceedings of American Economic Association, Vol. XXX, No. 5, February, 1941, pp. 379-389.

April 9

The Rate Base; Theories in (a) Federal Water Power Act, 1920; (b) Transportation Act of 1920.

*Bonbright, J. C. Valuation of Property (1937). Vol. II, Chapter XXX, “Valuation for Rate Making Purposes: Economic Theory versus Legal Doctrine,” pp. 1078-1110; Chapter XXXI, “Valuation for Rate Making Purposes: Methods of Appraisal; Non-utility Price Fixing,” pp. 1111-1165.

*Bauer, John. Op. Cit. Chapter IV, “Valuation Primarily a Legislative Responsibility,” pp. 47-60; Chapter V, “Court Decisions on Valuation” pp. 61-103; Chapter IX, “Systematic Maintenance of the Rate Base,” pp. 228-252.

Hartman, H.H. Fair Value (1920). Chapter IV, “The Theory of Valuation,” pp. 77-93.

*Glaeser. Op. Cit. Chapter XIV, “The Movement for Physical Valuation,” pp. 311-338.

*Clark. Social Control of Business (2d ed., 1939). Chapter XX, “Fair Value and Fair Return — The Legal Doctrine,” pp. 303-319; Chapter XXI, “Fair Earnings and Fair Value from the Economic Standpoint — Two Phases of One Fact,” pp. 320-336.

Tendency of Supreme Court decisions to favor reproduction cost less depreciation. Indicated in Q.J.E. XVII (1912-1913), pp. 27 and 616.

Graham, W.J. Public Utility Valuation; Reproduction Cost as a Basis for Depreciation and Rate-Base Determination. Studies in Business Administration, University of Chicago (1934), Vol. IV, No. 3, p. 95.

Barnes, I.R. “Shall Going Value Be Included in the Rate Base?” Journal of Land and Public Utility Economics, November, 1940, pp. 430-437.

April 14

Rate of Return; Capital Structure; Control of Investment and Issue of Securities.

*Bernstein. Op. Cit. Chapter VIII, “The Fair Rate of Return,” pp. 91-104.

*Smith, N.L. The Fair Rate of Return in Public Utility Regulation (1932). Chapter I, “Regulation, Valuation and the Rate of Return,” pp. 1-48; Chapter II, “Elements of the Fair Return,” pp. 49-79.

*Thompson and Smith. Op. Cit. Chapter XVII, “Fair Rate of Return,” pp. 349-361.

*Waterman, M.H. Financial Policies of Public Utility Holding Companies, Michigan Business Studies, Vol. V (1932), Chapter 4, “Trading on the Equity,” pp. 78-99.

*Jones and Bigham. Op. Cit. Chapter XI, “Regulation of Securities,” pp. 495-547.

Report of the Public Utilities Division, Securities and Exchange Commission, on “The Problem of Maintaining Arm’s Length Bargaining and Competitive Conditions in the Sale and Distribution of Securities of Registered Public Utility Holding Companies and Their Subsidiaries” (December, 1940), p. 46. (Comprehensive Appendices A to F inclusive.)

April 16

Sliding Scale and other “Automatic” Devices for Controlling Rates and Rate of Return; Rate of Return and Efficiency in Management.

*Bussing, Irwin. Public Utility Regulation and the So-Called Sliding Scale. Columbia University Press, 1936, p. 174. (A Ph.D. thesis)

*Clark. Social Control of Business (2d ed., 1939). Chapter XXII, “Regulation, Service, and Efficiency,” pp. 337-349.

Morgan, C.S. Regulation and Management of Public Utilities (1923). Chapter V, “Methods at Present Used to Promote Efficiency in the Management of Public Utilities,” pp. 144-233.

April 21

The Holding Company; Corporate Simplification and Physical Integration under the Public Utility Holding Company Act.

*Bonbright and Means. The Holding Company (1932). Chapter V, “The Public Utility Holding Company — Organization of the Major Systems,” pp. 90-148; Supplement to Chapter VI, “Advantages and Disadvantages of Different Types of Utility Integration,” pp. 188-199.

*Lillienthal, D.E. “The Regulation of the Holding Company.” 29 Columbia Law Review 404-440 (April, 1929).

*Wright, Warren. “Tests of Reasonableness for Charges of Services from Holding Company to Subsidiary.” Journal of Land and Public Utility Economics, Vol. 6 (November 1930), pp. 417-423.

Waterman, M.H. Op. Cit. Chapter 3, “Parent Company versus Subsidiary Company Financing,” pp. 45-77.

National Association of Railroad and Utilities Commissioners. Proceedings of Fortieth Annual Convention, 1928. “Report of the Committee on Capitalization and Intercorporate Relations,” pp. 504-511.

April 23

Regulatory Policies and Efficiency and Inefficiency in Management.

*Morgan, C.S. Op. Cit. Chapters I-III, pp. 1-117, and Chapter VII, pp. 307-346.

*Lyon, Abramson, and Associates. Government and Economic Life (1940). Chapter XXI, Sec. I, “The Rationale of Regulation,” pp. 618-625; Sec. II, “The Structure and Process of Regulation,” pp. 626-671; Sec. III, “The Substantive Problems of Regulation,” pp. 672-728.

Bauer, John. Op. Cit. Chapter XIII, “Effect upon Service and Efficiency of Operation,” pp. 328-349.

Fainsod, Merle. “Regulation and Efficiency in Management.” Yale Law Review, May, 1940, pp. 1190-1211.

April 28

National Power Policy; Public Ownership and the Government Corporation.

Voskuil, W.H. The Economics of Water Power Development (1928). Chapters I-III, pp. 1-43.

*Bird, F.L. The Management of Small Municipal Lighting Plants (1932). Chapters II-III, pp. 9-53, and Chapters VIII-IX, pp. 106-139.

Hodge, C.L. The Tennessee Valley Authority (1938). Chapter II, pp. 29-49; Chapter VIII, 201-248.

Mason, E.S. The Street Railway in Massachusetts (1932). Chapters 8 and 9, pp. 163-192.

Dimock, M.E. British Public Utilities and National Development (1933). Chapter I, “The Setting,” pp. 19-62; Chapter VI, “National Electricity Planning,” pp. 195-227; Chapter VII, “Electrical Progress and the National Economy,” pp. 228-262.

McDiarmid, John. Government Corporations and Federal Funds (1936). Chapters I and II, pp. 1-50; Chapter IX, “Conclusions,” pp. 209-232.

*Taussig. Principles of Economics. Vol. II, Chapter 66, pp. 472-489.

*Lyon, Abramson, and Associates. Op. Cit. Vol. II, Chapter XXI, Sec. IV, “Public Ownership and Operation,” pp. 369-377.

*Clark, J.M. Social Control of Business. Chapter XXIV, “Public Control versus Public Operation,” pp. 369-377.

Abrams, E.R. Power in Transition (1940). Chapter II, “National Power Policies and Activities,” pp. 20-41; Chapter IX, “Threats of Public Power Projects and National Power Policies,” pp. 297-306.

*Bonbright, J.C. Public Utilities and the National Power Policies. (Public lectures at Columbia University, 1940), p. 82.

April 30

Legislative, Judicial, and Administrative Regulation.

*Jones and Bigham. Op. Cit. Chapter III, pp. 102-156, and Chapter IV, pp. 157-190.

*Glaeser. Op. Cit. Chapter VII, “The Common Law Basis of Public Utility Regulation,” pp. 156-180; Chapter VII, “The Constitutional Basis of Public Utility Regulation,” pp. 181-194; and Chapter XXXIII, “General Summary and Forecast of the Development of Regulation,” pp. 733-754.

*Mosher and Crawford. Public Utility Regulation (1933). Chapter IV, “Judicial Review of Commission Determination,” pp. 41-53.

*Clay. Op. Cit. Part III, “Conclusion,” pp. 273-297.

*Fainsod, Merle. “Some Reflections on the Nature of the Regulatory Process.” Chapter X, pp. 297-323, in Public Policy, a Yearbook of the Graduate School of Public Administration, Harvard University (1940), edited by Friedrich, C.J. and Mason, E.S.

Landis, James M. “Crucial Issues in Administrative Law: The Walter-Logan Bill.” Harvard Law Review, May, 1940, pp. 1077-1103.

*National Association of Railroad and Utilities Commissioners, Report of the Committee on Progress in Public Utility Regulation. Utility Regulation and National Defense, December, 1940. Section IV, “Critical Utility Regulatory Problems,” pp. 125-147.

Herring, E.P. Federal Commissioners, A Study of Their Careers and Qualifications. Harvard University Press, 1936, pp. 1-104.

Parsons, R.H. Early Days of the Power Industry (English), 1940. Chapter XI, “Legislation Affecting the Electrical Industry,” pp. 184-200.

Pegrum, D.F. “The Public Corporation as a Regulatory Device.” Journal of Land and Public Utility Economics, August, 1940, pp. 335-343.

Smith, N.L. “The Outlook in Regulation,” Journal of Land and Public Utility Economics, November, 1940, pp. 386-392, and February, 1941, pp. 48-53.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 2, Folder “Economics, 1940-41”.

_____________________________

HARVARD UNIVERSITY
ECONOMICS 163
FINAL EXAMINATION
June 1941.

(Answer 6 questions, selecting 3 from Part 1 and 3 from Part 2. Use a separate blue book for each part.)

PART I—TRANSPORTATION

I

In his discussion of the cost of transportation Healy draws a distinction between “joint costs” and “common costs.” Give illustrations which for each of the two groups will make the distinction clear and discuss the bearing of such costs (whether designated as joint or common) on the determination of commodity rates.

II

The commodities clause of the Interstate Commerce Act has since 1908 prohibited a railroad from transporting commodities which it produced or in which it had any direct or indirect interest. That prohibition was continued in the 1940 revision of the Act but it has not been made applicable to common or contract carriers by highway, water or pipe line.

(a) What was the purpose of the prohibition when first applied to railroads in 1908?

(b) Does public interest now require the continuation of the prohibition?

(c) If continued for railroads should it be made applicable also to other carriers, especially common carrier pipe lines?

III

The Transportation Act of 1940 provides for the establishment of a transportation board which, among other things, would investigate and report on “the relative economy and fitness” of the several carriers for transportation service “or any particular classes or descriptions thereof.” Discuss this section of the Act from the following viewpoints:

(a) The need for the creation of such a board

(b) The criteria for the determination of relative fitness

(c) The problems of greatest difficulty in reaching conclusions as to how “there may be provided a national transportation system adequate to meet the needs of the commerce of the United States, of the postal service and of the national defense.”

IV

The present rule of rate making (Section 15a of the 1940 Transportation Act) applying to common carriers by rail, highway, water and pipe line is:

“In the exercise of its power to prescribe just and reasonable rates the Commission shall give due consideration, among other factors, to the effect of rates on the movement of traffic by the carrier or carriers for which the rates are prescribed;to the need, in the public interest, of adequate and efficient railway transportation service at the lowest cost consistent with the furnishing of such service; and to the need of revenues sufficient to enable the carriers, under honest, economical, and efficient management, to provide such service.”

(a) What was the main reason for departing from the principle of the 1920 Act requiring the Commission to set rates so as to yield, for the railroads collectively, a fair return on value?

(b) Why did the railroads object to the inclusion, in first place, of the factor of “effect of rates on the movement of traffic”?

(c) The present law differs from the 1933 law only by the addition of the words “by the carrier or carriers for which the rates are prescribed” (italicized above). What is the significance of the added words?

V

From the viewpoint of a sound financial structure of a railroad discuss the significance of:

(a) The ratio of funded debt to total capitalization

(b) Provision for sinking funds on mortgage bonds

(c) Provision for a stated sum annually, or a percentage of operating revenues, for routine capital improvements, such provision to take precedence in claim on net income over interest charges on income bonds and dividends on stock.

 

PART 2—PUBLIC UTILITY ECONOMICS

VI

Explain the economic significance of a peak demand upon (a) an electric power utility, (b) a gas utility, (c) a local transit utility, and (d) a telephone utility.

VII

Explain the basis upon which utility service should or should not be extended that may not initially cover (a) the utility’s increment costs and (b) in addition to increment costs, some return upon an approved base.

VIII

Distinguish between (a) minimum and (b) service charges for public utility service and explain which type of rate you prefer.

IX

Discuss the economic significance of such modes of rate making as employ (a) such “escalator” devices as fuel clauses and (b) the so-called “sliding scale,” which relates rates to the utility’s rate of return.

X

What is the purpose of a depreciation charge? Of the following methods of determining annual depreciation, explain which you prefer and why: (a) a percentage of gross revenue, and (b) a percentage of depreciable property.

XI

Explain the difference in the theory of valuation of public utility property in (a) the Transportation Act of 1920 and (b) the Federal Water Power Act of 1920. Indicate which of the theories you approve and why.

 

Source: Harvard University Archives. Harvard University. Final examinations 1853-2001.Box 5. Faculty of Arts and Sciences. Papers Printed for Final Examinations—History, History of Religions,…, Government, Economics,…, Military Science, Naval Science. June 1941.

Image Sources:  Crum from the  Harvard Class Album 1941, Cunningham and Ruggles from the Harvard Business School Yearbook, 1946-47 and 1937-38, respectively.

 

Categories
Economic History Harvard Suggested Reading

Harvard. Economic Aspects of Western Civilization. Cunningham, 1899.

 

 

William Cunningham (1849-1919) was appointed lecturer on economic history at Harvard September 27, 1898 in order to cover economic history for Professor Ashley who was on leave during the second semester of the 1898-99 academic year.

___________________

During the second half year of 1898-99, the place of Professor Ashley, who is absent on leave, is taken by Dr. Wm. Cunningham, of Trinity College (Cambridge, England). Dr. Cunningham and Professor Ashley are easily the leaders among English-speaking scholars on their subject, economic history; and the Department has cordially welcomed the arrangement by which the scholar from the Cambridge of England fills the place, for the time being, of the scholar of the American Cambridge. Dr. Cunningham gives two courses in the current half year, — one on Western Civilization in its Economic Aspects, Mediaeval and Modern, the other on the Industrial Revolution in England.

Source:  F. W. Taussig’s report on the activities of the economics department in 1898-99 in The Harvard Graduates’ Magazine, vol. 7 (1898-99), p. 427.

___________________

Course Announcement

8hf. Western Civilization in its Economic Aspects. (Mediaeval and Modern.) Half-course (second half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 12.Dr. Cunningham (Trinity College, Cambridge, England).

Source:   Harvard University, Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1898-1899.Cambridge, Massachusetts: 1898, p. 41.

___________________

Course Enrollment

[Economics] 8hf. Dr. Cunnningham.— Western Civilization, mediaeval and modern, in its Economic Aspects. Lectures (3 hours). 4 reports.

Total 105:  13 Graduates, 41 Seniors, 15 Juniors, 23 Sophomores, 1 Freshman, 12 Others

Source: Harvard University. Annual Report of the President of Harvard College, 1898-99, p. 72.

___________________

ECONOMICS 8.
WESTERN CIVILIZATION.

For Reading: —

Andrews, C. M. Old English Manor, p. 202 to end.
M. Dormer Harris. Life in an Old English Town.
H. Beazley. Prince Henry the Navigator;
Discourse of the Common Weal of this Realm of England
, edited by E. Lamond.
Thorold Rogers. Holland.

 

For Consultation: —

Duke of Argyll. Unseen Foundations of Society.
Maitland, S. R. The Dark Ages.
Montalembert. Monks of the West, II.
Levasseur, E. Histoire des Class ouvrières en France jusqu’a la Révolution [Volume I (1859);  Volume  II (1859);
Walter of Henley’s Husbandry, edited by E. Lamond.
Pigeonneau. Histoire du Commerce de la France. [Volume I; Volume II]
von Inama-Sternegg. Deutsche Wirtschaftsgeschichte. [Volume 1 ; Volume 2]
Heyd, W. Geschichte des Levantehandels. [Volume 1 ; Volume 2]
[de] Mas Latrie. Relations et Commerce de l’Afrique Septentrionale.
Ehrenberg, R. Das Zeitalter der Fugger.[Volume 1 ; Volume 2]
Gottlob, A. Aus der Camera.
S. Thomas Aquinas. De regimine Principum.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003.Box 1, Folder “Economics 1898-1899”.

Image Source:  Trinity College Chapel website.

Categories
Courses Gender Radcliffe

Radcliffe. Economics Course Offerings, 1894-1900

 

Besides documenting the course offerings available to Radcliffe students at the end of the 19th century, the post today offers us relatively thick course descriptions of what were essentially identical to Harvard economics courses that I have not found for that period. Pre-Radliffe economics course offerings and the first actual Radcliffe courses for  1893-94 have been posted earlier.

____________________________________

1894-95
ECONOMICS.

(Primarily for Undergraduates.)

PROFESSOR CUMMINGS. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. This course gave a general introduction to Economic study, and a general view of Economics for those who had not further time to give to the subject. It was designed also to give argumentative training by the careful discussion of principles and reasoning. The instruction was given by question and discussion. J. S. Mill’s Principles of Political Economy formed the basis of the work. At intervals lectures were given which served to illustrate and supplement the class-room instruction. In connexion with the lectures, a course of reading was prescribed. The work of students was tested from time to time by examinations and other written work. — 13 students.

PROFESSOR ASHLEY. — The Elements of Economic History from the Middle Ages to Modern Times. The object of this course was to give a general view of the economic development of society from the Middle Ages to the present time. It dealt, among others, with the following topics: the manorial system and serfdom; the merchant gilds and mediaeval trade; the craft gilds and mediaeval industry; the commercial supremacy of the Italian and Hanseatic merchants; trade centres, and trade routes; the merchant adventurers and the great trading companies; the agrarian changes of the sixteenth century; domestic industry; the struggle of England with Holland and France for commercial supremacy; the beginning of modern finance; the progress of farming; the great inventions and the factory system. Attention was devoted chiefly to England, but that country was treated as illustrating the broader features of the economic evolution of the whole of western Europe. Arrived at the 17th century, it was shown how English conditions were modified by transference to America. The opportunity was taken, throughout the course, to introduce the students to the use of the original sources. — 6 students.

 

(For Graduates and Undergraduates.)

PROFESSOR ASHLEY. — Aristotle to Ricardo. — Economic Theory. This course traced the development of economic theory from its beginnings to Ricardo. It was treated partly by lectures and partly by the discussion of selections from leading writers. The more important chapters of Adam Smith’s Wealth of Nations, of Malthus’s Essays on Population, and Ricardo’s Principles of Political Economy and Taxation, were read by students, and discussed in the class-room; and an attempt was made to show the relation of the “classical economists ” to more recent economic speculation. — 8 students.

PROFESSOR CUMMINGS. — The Principles of Sociology. — Development of Modern State, and of its Social Functions. An introductory course in sociology, intended to give a comprehensive view of the structure and development of society in relation to some of the more characteristic ethical and industrial tendencies of the present day. The course began with a theoretical consideration of the relation of the individual to society and to the state, – with a view to pointing out some theoretical misconceptions and practical errors traceable to an illegitimate use of the fundamental analogies and metaphysical formulas found in Comte, Spencer, P. Leroy Beaulieu, Schaeffle, and other writers. The second part followed more in detail the ethical and economic growth of society. Beginning with the development of social instincts manifested in voluntary organization, it considered the genesis and theory of natural rights, the function of legislation, the sociological significance of the status of women and of the family and other institutions, – with a view to tracing the evolution of certain types of society based upon a more or less complete recognition of the social ideas already considered. The last part dealt with certain tendencies of the modern state, discussing especially the province and limits of state activity, with some comparison of the Anglo-Saxon and the continental theory and practice in regard to private initiative and state intervention in relation to public works, industrial development, philanthrophy, education, labor organization, and the like. Each student selected for special investigation some question closely related to the theoretical or practical aspects of the course; and a certain amount of systematic reading was expected. —  7 students.

PROFESSOR ASHLEY. — Economic Seminary. Here four graduate students investigated the present industrial organization of the U. S.; one giving particular attention to the Woollen and Cotton Industries of New England; a second to the Coal and Iron Industries of Pennsylvania; a third to the Petroleum business; and the fourth to the Labor movement, especially around Chicago.

 

Source:   Radcliffe College. Report of the President, 1894-95, pp. 48-49.

____________________________________

1895-96
ECONOMICS.

(Primarily for Undergraduates.)

1. PROFESSOR CUMMINGS. — Outlines of Economics. — Mill’s Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. This course gave a general introduction to economic study, and a general view of Economics. It was conducted mainly by questions and discussions, supplemented by lectures. Large parts of Mill’s Principles of Political Economy were read, as well as parts of other general books; while detailed reference was given for the reading on the application and illustration of economic principles. — 20 students.

 

(For Graduates and Undergraduates.)

10. PROFESSOR ASHLEY. — The Mediaeval Economic History of Europe. The object of this course was to give a general view of the economic development of society during the Middle Ages. It dealt, among others, with the following topics: the manorial system in its relation to mediaeval agriculture and to serfdom; the merchant gilds and the beginnings of town life and of trade; the craft gild and the gild-system of industry, compared with earlier and later forms: the commercial supremacy of the Hanseatic and Italian merchants; the trade routes of the Middle Ages and of the sixteenth century; the merchant adventurers and the great trading companies; the agrarian changes of the fifteenth and sixteenth centuries and the break-up of the mediaeval organization of social classes; the appearance of new manufactures and of domestic industry. Special attention was devoted to England, but that country was treated as illustrating the broader features of the economic evolution of the whole of western Europe. — 6 students.

21. PROFESSOR ASHLEY. — Economic Theory, from Adam Smith to the present time.- Selections from Adam Smith and Ricardo. — 8 students.

22. PROFESSOR MACVANE. — Economic Theory. Modern Writers. — 4 students.

3. PROFESSOR CUMMINGS. — The Principles of Sociology. This course began with a general survey of the structure and development of society; showing the changing elements of which a progressive society is composed, the forces which manifest themselves at different stages in the transition from primitive conditions to complex phases of civilized life, and the structural outlines upon which successive phases of social, political, and industrial organization proceed. Following this, was an examination of the historical aspects which this evolution has actually assumed: Primitive man, elementary forms of association, the various forms of family organization, and the contributions which family, clan and tribe have made to the constitution of more comprehensive, ethnical, and political groups; the functions of the State, the circumstances which determine types of political organization, the corresponding expansion of social consciousness, and the relative importance of military, economic, and ethical ideas at successive stages of civilization. There was careful consideration of the attempts to formulate physical and psychological laws of social growth; the relative importance of natural and of artificial selection in social development; the law of social survival; the dangers which threaten civilization; and the bearing of such general considerations upon the practical problems of vice, crime, poverty, pauperism, and upon mooted methods of social reform. The student was made acquainted with the main schools of sociological thought, and opportunity was given for a critical comparison of earlier phases of sociological theory with more recent contributions in Europe and the United States. Regular and systematic reading was required. Topics were assigned for special investigation in connection with practical or theoretical aspects of the course. — 4 students.

 

(Primarily for Graduates.)

20. PROFESSOR ASHLEY. — Seminary in Economics. One student continued her investigation into mediaeval land tenure, and another began an inquiry into the relations between Adam Smith and Turgot. — 2 students.

 

Source:   Radcliffe College. Report of the President, 1895-96, pp. 46-47.

____________________________________

1896-97
ECONOMICS.

Primarily for Undergraduates:

1. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — Outlines of Economics. Principles of Political Economy. Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours a week.

15 Undergraduates, 3 Special students. Total 18.

 

For Graduates and Undergraduates:

11. Professor ASHLEY. — The Modern Economic History of Europe (from1400). 2 hours a week.

2 Graduates, 1 Undergraduate, 1 Special student. Total 4.

9. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. 3 hours a week.

1 Undergraduate, 4 Special students. Total 5.

3. Asst. Professor CUMMINGS. — The Principles of Sociology. Development of the Modern State and of its Social Functions. 3 hours a week.

1 Graduate, 1 Undergraduate, 4 Special students. Total 6.

 

Source:   Radcliffe College. Report of the President, 1896-97, p. 38.

____________________________________

1897-98
ECONOMICS.

Primarily for Undergraduates:

1. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — Outlines of Economics. Principles of Political Economy. Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours a week.

1 Graduate, 20 Undergraduates, 4 Special students. Total 26.

 

For Undergraduates and Graduates:

11. Professor ASHLEY. — The Modern Economic History of Europe (from1400). 2 hours a week.

1 Graduate, 3 Special students. Total 4.

9. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. 3 hours a week.

1 Graduate, 3 Undergraduates, 1 Special student. Total 5.

3. Asst. Professor CUMMINGS. — The Principles of Sociology. Development of the Modern State and of its Social Functions. 3 hours a week.

1 Graduate, 2 Undergraduates, 1 Special student. Total 4.

6. Dr. CALLENDER. — The Economic History of the United States. 3 hours a week.

1 Graduate, 1 Undergraduate. Total 2.

22. Professor TAUSSIG. — Economic Theory. Half-course. 3 hours a week. 2d half-year.

3 Undergraduates, 1 Special student. Total 4.

 

Primarily for Graduates:

20. Professor ASHLEY. — Seminary in Economics. The Mediaeval History of certain English manors.

1 Graduate. Total 1.

 

Source:   Radcliffe College. Report of the President, 1897-98, pp. 38-39.

____________________________________

1898-99
ECONOMICS.

Primarily for Undergraduates:

1. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — Outlines ofEconomics. Principles of olitical Economy. Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation. 3 hours a week.

16 Undergraduates, 4 Special students. Total 20.

 

For Undergraduates and Graduates:

112. Dr. CUNNINGHAM. — The Industrial Revolution in England in the 18th and 19th centuries. Half-course. 3 hours a week, 2d half-year.

1 Graduate, 11 Undergraduates, 7 Special students. Total 19.

6. Dr. CALLENDER. — The Economic History of the United States. 3 hours a week.

1 Graduate, 3 Undergraduates, 1 Special student. Total 6.

3. Asst. Professor CUMMINGS. — The Principles of Sociology. Development of the Modern State and of its Social Functions. 3 hours a week.

1 Graduate, 2 Undergraduates, 1 Special student. Total 4.

9. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — The Labor Question in Europe and the United States. — The Social and Economic Condition of Workingmen. 3 hours a week.

2 Graduates, 4 Undergraduates, 2 Special students. Total 8.

 

Primarily for Graduates:

20. Asst. Professor CUMMINGS. — Seminary in Economics.

1 Special student. Total 1

 

Source:   Radcliffe College. Report of the President, 1898-99, pp. 35-36.

 

____________________________________

1899-1900
ECONOMICS.

Primarily for Undergraduates:

1. Asst. Professor CUMMINGS and Dr. JOHN CUMMINGS. — Outlines of Economics. — Principles of Political Economy. — Lectures on Economic Development, Distribution, Social Questions and Financial Legislation. 3 hours a week.

27 Undergraduates, 4 Special Students. Total 31.

 

For Undergraduates and Graduates:

11. Professor ASHLEY. — The Modern Economic History of Europe and America (from 1600). 2 hours a week (and occasionally a third hour).

8 Graduates, 7 Undergraduates, 2 Special students. Total 17.

6. Dr. CALLENDER. — The Economic History of the United States.2 hours a week.

2 Graduates, 5 Undergraduates. Total 7.

3. Asst. Professor CUMMINGS. — The Principles of Sociology. — Development of the Modern State and of its Social Functions. 3 hours a week.

2 Graduates, 6 Special students. Total 8.

 

Primarily for Graduates:

**15. Professor ASHLEY. — The History and Literature of Economics to the close of the Eighteenth Century. 2 hours a week.

1 Graduate. Total 1.

**20c1. Professor Taussig. The Tariff History of the United States.Thesis. Half-course. 1 hour a week, 1st half-year.

1 Graduate. Total 1.

 

Source:   Radcliffe College. Report of the President, 1899-1900, pp. 42-43.

Image Source:  Library in Fay House, 1890s. Schlesinger Library. Radcliffe Institute for Advanced Study Harvard University Webpage.

Categories
Economists Harvard

Harvard. Graduates’ Magazine reports on Economics Dept. 1892-1904.

The Harvard Graduates’ Magazine. Vol. 1, October, 1892, pp. 116-117.

ECONOMICS.

Ten years ago, the Department of Political Economy had one professor and one instructor, neither giving all of his time to the subject. At present, the Department of Economics has three professors and two instructors. The change in name, from Political Economy to Economics, indicates of itself an enlargement of the range of subjects. The number of courses offered has grown from two to a dozen, with a corresponding development in the variety of topics treated. The increase in the number of students is indicated by the fact that the first course, introductory to the rest, which was taken ten years ago by perhaps fifty students, now has over three hundred. This striking development is significant of the rapid increase in the attention given to economic problems by the public and by our institutions of learning. The staff now consists of Professors Dunbar, Taussig, and Ashley, and Messrs. Cummings and Cole. Professor Ashley enters upon his duties for the first time this autumn, his chair being a newly created one of Economic History. Professor Dunbar continues to edit the Quarterly Journal of Economics, which was established by the University in 1886 with the aid of a fund contributed by John Eliot Thayer, ’85, and which has an established position among the important periodicals on economic subjects. The Department has recently done service to economic students by a reprint, under Professor Dunbar’s care, of Cantillon’s Essai sur le Commerce, a rare volume of importance in the history of economic theory; and it has now in press a volume of State Papers and Speeches on the Tariff, meant to aid students of the tariff history of the United States. For its growth in the past the Department has depended wholly on the expenditure by the Corporation of unpledged resources. No doubt the increasing sense of the importance of economic study will in time change the situation in this regard, and will make this department as attractive for benefactors as those which are older and more familiar.

F. W. Taussig, 79.

 

 _____________________________

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 576.

[Birth of a semester system, emphasis added]

The elective pamphlet announcing the courses to be offered in 1893-94 by the Faculty of Arts and Sciences contains few striking changes. There is a tendency manifested in it to increase the number of half-courses beginning or ending in February, at the time of the mid-year examinations. Thus History 12 is split into two halves, the first half being on the recent history of Continental Europe, and the second half on the recent constitutional history of England; Economics 7 is cut in two, and Economics 12 is established as two half-courses, one on International Payments and the Flow of Precious Metals, and the other on Banking and the History of the Banking Systems. Other examples might be given to emphasize the drift towards something akin to a division of the year into two semesters, particularly for the convenience of graduate students. 

_____________________________

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 590.

ECONOMICS.

In the department of Economics several new courses are offered for 1893-94. Professor Dunbar offers two half-courses, one on international payments and the flow of the precious metals from country to country, the other on banks and the leading banking systems. The two half-courses come at the same hours in the first and second half-years, and, when taken together, form a convenient full course running through the year. This new course will alternate with Course 7, on taxation and finance, which is to be omitted in 1893-94, and will be resumed in 1894-95. — Professor Ashley offers a course on Economic History, from the Middle Ages to modern times, which will take the place of the former Course 4, on the economic history of Europe and America since the middle of the eighteenth century. The new course covers a longer period than was covered in Course 4, and will supplement effectively the instruction in history as well as in economics. Professor Ashley also offers a new half-course, intended mainly for advanced and graduate students, on land tenure and agrarian conditions in Europe. — Professor Cummings offers a half-course, also intended for advanced students, on schemes for social reconstruction from Plato’s Republic to the present time, including the proposals of Bellamy and Hertzka. The course is meant to give opportunity for the discussion of social and political institutions and of socialist theories. — Economics 1, the introductory course in the department, will be remodeled in part in the coming year. A somewhat larger proportion of the exercises will take the form of lectures to all members of the course. Professor Taussig will lecture on distribution and on financial subjects, Professor Ashley on economic development, Professor Cummings on social questions.

F. W. Taussig, ’79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 3, March, 1895, pp. 383-384.

ECONOMICS.

The matter that has of late most engaged the attention of the Department has been the welcome and yet embarrassing growth in the number of students taking the introductory course known as Economics 1. This has risen from 179 in 1889-90 to 201 in ’90-91, 288 in ’91-92, 322 in ’92-93, 340 in ’93-94, until in the present year it is 398. Such an increase necessarily raises grave questions both of educational method and of academic discipline. Those professors to whose labors in past years the success of the course has been due are still of opinion that the recitation method, in its best form, — the discussion day after day and chapter by chapter of some great treatise like the work of John Stuart Mill, — furnishes a mental training such as no other plan can provide. But for its successful practice it is necessary either that the class should be quite small, or that, if divided, the sections should be few and small. Accordingly it became evident that some modification of plan was necessary; and last year the arrangement was hit upon of retaining the section work for the greater part of the year, but diversifying it with three months of set lectures at different periods by Professors Taussig, Ashley, and Cummings. The experiment was so satisfactory that it has been repeated this year; and, in the absence of Professor Taussig, Professors Ashley and Cummings have each lectured for six weeks. If the numbers continue to grow, it may seem advisable in the future to take further steps in the same direction. But Upper Massachusetts, in spite of its historical associations, has abominable acoustic properties; the room in Boylston, which was suggested as an alternative, is redolent of Chemistry; and it may ultimately become necessary to invade the sacred precincts of Sanders Theatre. — In the absence of Professor Taussig upon his sabbatical, before referred to, his course on Economic Theory (Econ. 2) has been divided into two half-courses, and undertaken by Professor Ashley and Professor Macvane. Professor Macvane’s action will do something to break down that middle wall of partition between departments which is sometimes so curiously high and strong in this University of free electives. It need scarcely be added that to those who know how considerable have been Professor Macvane’s contributions to economic theory, and how great his reputation is with foreign economists, he seems altogether in place when he takes part in the economic instruction of Harvard University. — Professor Taussig’s course on Railway Transportation (Econ. 5) has been assigned for the present year to Mr. G. O. Virtue, ’92; his other courses have been suspended. — Mr. John Cummings, ’91, has returned, with a year’s experience as instructor and his doctorate, from the University of Chicago, and is now an Assistant in Econ. 1; he is also offering a new course on Comparative Poor Law and Administration. — The instructors in this, as in other Departments, find themselves increasingly hampered by the difficulty of providing the necessary books for the use of students. Oxford and Cambridge Universities, with hardly more students than Harvard, have libraries in every college, together with the Union libraries and the University libraries; here in Harvard, if an instructor in class mentions any but the best known of books, the chances are that there is only one copy in the place,— that in the University Library; and unless he has been provident enough to have that book “reserved,” some undergraduate promptly takes it out, and nobody else can see it. It is true that undergraduates ought to buy more books; but frequently there is not a copy to be had even in the Boston bookstores. It would certainly be a great relief if the societies could see their way to create, each for itself, a modest working library of a few hundred books. Meanwhile something may be done by strengthening the Departmental Library in University Hall. This, which owes its creation to the generosity of some of the members of the Class of 1879, is in urgent need of enlargement; and the professors in the Department will be glad to hear from any graduate whose eye this happens to catch. — Finally, it may be advisable to mention that, as the result of careful deliberation on the part of the members of the Division Committee, a detailed statement of requirements for the Degree of Doctor of Philosophy in Political Science was drawn up last spring, and will now be found at the end of the Division pamphlet This Statement is noteworthy in that it defines for the first time the “general” examination, and the examination on “a special field;” and also for the stress it lays upon “a broad basis of general culture ” as the foundation of specialist work. “A command of good English, spoken and written, the ability to make free use of French and German books, and a fair acquaintance with general history ” are mentioned as “of special importance.”

W. J. Ashley.

_____________________________

The Harvard Graduates’ Magazine. Vol. 4, December, 1895, pp. 242-243.

ECONOMICS.

The Department of Economics began its work for the year under unfortunate circumstances. Professor Dunbar, its honored head, was compelled by ill-health to withdraw from academic work for the year, and was given leave of absence by the Corporation. His withdrawal rendered necessary changes in the courses of instruction. Of those announced to be given by Professor Dunbar, course 7, on Financial Administration and Public Debts, was undertaken by Dr. John Cummings, and course 12, on Banking and the History of the Leading Banking Systems, by Professor Taussig. The additional work thus assumed by Professor Taussig was made possible through the aid of Professor Macvane, who will conduct during the second half-year that part of Economics 2 which had been announced to be given by Professor Taussig. Course 8, on the History of Financial Legislation in the United States, has been shifted to the second half-year, and will then be given by Dr. Joseph A. Hill, A. B. ’86, Ph. D. ’92. By this rearrangement all the courses originally announced will be given, and no diminution in the Department’s offering results from Professor Dunbar’s absence. — Another change has taken place, affecting course 1. The numbers in this introductory course have grown steadily of late years, and it is now taken annually by about 400 men. It had been the policy of the Department to conduct it not by lectures, but mainly by face to face discussion, in rooms of moderate size, the men being divided into sections for this purpose. As the numbers grew, however, it became more and more difficult to keep the sections at a manageable size, to find convenient rooms for them, and to secure efficient instructors. The alternative of lecturing to the men in one large room had long presented itself, but the probable educational advantages of instruction in smaller rooms by sections caused this alternative to be avoided. For the present year, however, the withdrawal of Professor Dunbar rendered some economizing of the force of the Department necessary, and it has been accordingly determined to try the lecture plan for the current year. All the members of the course meet in Upper Massachusetts, — a room which, by the way, proves reasonably well adapted for this use, — and there are given lectures by the various instructors who take part in the course. By way of testing their reading and securing for the instructors some evidence as to their attainments, a system of weekly written papers has been introduced. On a given day of each week the students write answers to questions bearing upon the work of that week and of previous weeks. These answers are examined and corrected, and serve as a means of estimating the diligence and attainments of the students. Whether this radical change of plan will prove to be advantageous remains to be decided by the year’s experience; but it indicates a change in the methods of college work which is making its way in all directions, and which presents new and difficult problems to instructors. — The Seminary in Economics opens the year with sixteen advanced students of good quality, and promises well. Two are Seniors in Harvard College; the remainder are members of the Graduate School. Four are candidates for the degree of Doctor of Philosophy at the close of the current year. The growth of the Seminary in numbers and the better organization of its work are part of the general advance of the Graduate School, which is now reaping the fruits of the marked gains it has made in recent years.

F. W. Taussig, 79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 7, March, 1899, pp. 427-8.

ECONOMICS.

Like other departments, that of Economics finds itself confronted with the problem of the best mode of dealing with large numbers of students in the courses much sought for, and especially in the general introductory course. Economics 1 is now regularly chosen by from 450 to 500 students. Well-nigh every undergraduate takes it at some stage of his college career, and the question of its numbers seems to be simply a question of the number of students in the College and Scientific School. This great demand for general training in the subject has imposed on the Department an obligation to make its instruction as stimulating and efficient as may be, and yet has made this task more difficult than ever before. Inevitably, the old method of dividing the course into sections for all of the instruction has been abandoned. Its place has been taken by a mixed method of lectures and oral exercises. Twice a week, lectures are given to the whole course in one large room. Upper Massachusetts, remodeled, reheated, and reseated, serves for these lectures, — not well, but not unendurably ill; there is great need, for the use of the large courses, of a new and well-equipped building. The lectures are largely in the nature of comment on assigned reading. The third hour in the week is then given to meetings in sections of moderate size, in which the lectures and the reading are subject to test and discussion. The course is divided into some fifteen sections, each of which meets its instructor once a week. At these exercises, a question is first answered in writing by each student, twenty minutes being allowed for this test; the remainder of the hour is used in oral discussion. Some continuous oversight of the work of students is thus secured, and opportunity is given for questions to them and from them. A not inconsiderable staff of instructors is necessary for the conduct of the sections, and a not inconsiderable expenditure by the Corporation for salaries; but some such counter-weight on the lecture system pure and simple is felt to be necessary. The Department has been fortunate in securing trained and competent instructors for this part of the work; and the new method, if not definitively adopted, is at least in the stage of promising experiment. — During the second half year of 1898-99, the place of Professor Ashley, who is absent on leave, is taken by Dr. Wm. Cunningham, of Trinity College (Cambridge, England). Dr. Cunningham and Professor Ashley are easily the leaders among English-speaking scholars on their subject, economic history; and the Department has cordially welcomed the arrangement by which the scholar from the Cambridge of England fills the place, for the time being, of the scholar of the American Cambridge. Dr. Cunningham gives two courses in the current half year, — one on Western Civilization in its Economic Aspects, Mediaeval and Modern, the other on the Industrial Revolution in England.

F. W. Taussig, ‘79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 8, December, 1899, p. 223.

ECONOMICS.

The Department finds, as usual, large numbers of students to deal with during the current year. In the introductory course, Economics 1, nearly 500 students are enrolled, and once again it appears that the University has no good lecture room adequate for the accommodation of such numbers. The system of instruction which has been in use in this course for several years is continued. For part of the time, lectures are given to all members of the course; for the remainder of the time, it is split into small sections for question and discussion. So long as lectures are given at all, there is little gain from splitting the course into two or more parallel courses, as has sometimes been proposed; but the absence of a good lecture room for the whole number makes the present situation trying. In its advanced courses, the Department has again the services of Prof. Ashley, who returns after a year’s leave of absence, and finds large numbers enrolled in his course on modern economic history. His advanced course, on the history and literature of economics to the close of the 18th century, also attracts a satisfactory number of mature students. Prof. Cummings omits for the year his course on the labor question; but compensation for this is found in Philosophy 5, a course having a similar range of subjects, which is again given by Prof. Peabody, who has returned from his year’s leave of absence. Professors Dunbar and Taussig give, without material change, the courses usually assigned to them. — The Department assumes some additional burden through a change in its plans for the publication of the Quarterly Journal of Economics. That journal, whose 14th volume begins with the opening issue of this year, is hereafter to appear in more ambitious form. Its size will be somewhat increased, the departments varied, and the elaborate bibliography of current publication will be strengthened. At the same time the price goes up from $2 to $3 a year, — a change which, it is hoped, can be carried out without a loss of subscribers.

F. W. Taussig, 79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 10, December, 1901, pp. 261-2.

ECONOMICS.

An unusual number of changes have to be noted in this Department. Prof. Taussig’s leave of absence, and Prof. Ashley’s recent resignation, have made it necessary to call in several men from the outside to give instruction during the present year. Prof. Taussig’s work is provided for in part by Prof. C. J. Bullock, of Williams College, who is giving the courses on finance and taxation, — and in part by a redistribution of the work among the members of the regular teaching staff. Dr. Andrew has charge of Economics 1, and Dr. Sprague of Economics 6, on the Economic History of the United States. Prof. Ashley’s courses, as announced for the year, have been provided for as follows: Prof. Wm. Z. Ripley, of the Massachusetts Institute of Technology, is giving course 5 on Statistics, and is to give the latter half of course 17 on the Economic Organization and Resources of European Countries, Mr. Meyer having charge of it during the first half year. Dr. C. W. Mixter is giving course 15 on the History and Literature of Economics to the opening of the 19th century. In addition, Prof. Ripley is giving course 5a on Railway Economics. In the second half year, Mr. W. F. Willoughby is to give courses 9 and 9a on Problems of Labor. — The courses preparing for a business career have been extended somewhat. Mr. W. M. Cole continues his course on the Principles of Accounting, and Prof. Wambaugh his course on Insurance. In addition to these, Mr. Bruce Wyman is conducting a new course on the Principles of Law in their Application to Industrial Problems, using the case method as it has been developed in the Law School. The popularity of these courses, in spite of the unusual severity of the examinations, is some indication of their success, and suggests, at least, the practicability of still further extensions. While there is a tendency in some quarters to carry the idea of commercial education to extremes, it is to be noted that these courses neither pretend to take the place of business experience, nor to teach those things which can be learned better in a business office than in any institution of learning. Moreover the work is confined to a mastery of principles and not to the gaining of general information. — The number of students in the Department continues large, there being upward of 480 in course 1, and about 1100 in the Department as a whole, not excluding those counted more than once. The housing of Economics 1 continues to be a problem, as Upper Massachusetts is uncomfortably packed at each meeting. More difficult, however, is the problem of finding small rooms for the 11 sections into which this class is divided for discussion and consultation once each week. — The Board of Overseers have confirmed the appointment of Dr. A. P. Andrew, Dr. O. M. W. Sprague, and Mr. H. R. Meyer as instructors without limit of time. — The change from two dollars to three dollars per year in the subscription price of the Quarterly Journal of Economics has been followed by no diminution in the number of subscribers, and the hope of the editors that the Journal might be conducted on a somewhat more ambitious scale is being realized.

T. N. Carver.

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The Harvard Graduates’ Magazine. Vol. 11, December, 1902, pp. 247-248.

ECONOMICS.

Prof. Taussig’s continued absence has occasioned some readjustment of work within the Department during the present year. Dr. A. P. Andrew has full charge of Course I, Dr. O. M. W. Sprague of Course 6, and Prof. T. N. Carver of Course 2, while Prof. Taussig’s course on Adam Smith and Ricardo has been combined with Dr. C. W. Mixter’s course on Selected Topics in the History of Economic Thought since Adam Smith. Prof. W. Z. Ripley, formerly of the Massachusetts Institute of Technology, has accepted a professorship in our Department, and is giving Course 9 on Problems of Labor and Industrial Organization, the first half of Course 3, on the Principles of Sociology, the second half of Course 17, on the Economic Organization and Resources of European Countries, and Course 4, on the Theory and Method of Statistics. Dr. E. F. Gay, who has spent several years in Europe investigating in the field of economic history, has accepted an instructorship here, and is giving Courses 10 and 11, on the Economic History of Mediaeval and Modern Europe.

The interest in the work of the Department continues to grow. Economics I has 542 students, as compared with about 480 at this time last year. Mr. Wyman’s course (21), on The Principles of Law in their Application to Economic Problems, now contains over 60 students, as compared with 38 last year. Other courses show no great variation one way or the other, except Prof. Ripley’s course in Statistics. The interest which is being revived in this too much neglected field promises well for the future of economic studies in Harvard.

The change in the hour of Economics I from Monday, Wednesday, and Friday, at 9, to Tuesday, Thursday, and Saturday, at 11, was necessary in order to find a suitable room. This makes it possible for a larger number of Freshmen to elect the course, since it no longer conflicts with History I. Whether this is going to prove advantageous or not remains to be seen. At present the policy is to discourage Freshmen from electing this course. If there should be a considerable increase in the number of men who complete the college course in three years, it may be advisable to allow some of the more mature members of the Freshman Class to take Economics I. In that case it will be necessary to increase the number of courses which are somewhat general in their scope. Thus the course on Economic Theory (2) might be made somewhat less special than it now is, and a new course covering the general field of Practical Economics might be started. In this way the evils of too early specialization might be avoided. However, no definite policy has as yet been decided upon.

The Department has secured the use of Room 24, University Hall, as headquarters. In this room the mail of the Department and of the Quarterly Journal of Economics will be received, and the exchanges will be available for immediate inspection. This room has also been fitted up with drawing tables and other apparatus necessary for practical work in statistics. It is the purpose to make it a statistical laboratory.

The accounts of the Quarterly Journal of Economics are satisfactory, and the subscription list is making slow but substantial gains.

T. N. Carver.

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The Harvard Graduates’ Magazine. Vol. 11, June, 1903, pp. 560-562.

ECONOMICS.

An interesting comparison between the allied departments of History and Economics is shown below on the basis of the number of students electing such courses. Some of the novel problems entailed by the rapid growth of the very large courses are now being considered by both departments. This rapid growth in large courses, coupled with the increase in the number of highly specialized courses, is bound to make necessary a constant increase in the instructing staff, if full justice to the work is to be done. Among the new courses offered for next year are the following: Economics of Agriculture, by Prof. Carver; Corporation Finance, by Prof. Ripley; Outlines of Agrarian History, by Prof. Gay; and American Competition in Europe since 1873 and The Indirect Activities of the State in Australasia and in Europe, by Mr. Meyer. A general revision of the methods of the Seminary is also under consideration, although plans in that direction are not as yet completed,

 

1902-3. STUDENTS IN ECONOMICS.

ECONOMICS.

HISTORY.

1st half year 1st half year

Econ.

5 60 Hist. 12a 93

7b 21 16a 151 244
8a

100

2d half year

12a 10 Hist. 12b 79

10 16 16b

148

18 45 252 29 86

313

2d half year ½ course thro yr.

Econ.

8b 152 Hist. 17 4

4

11b

19

Whole courses.

12b 43 Hist. 1

506

16 29 243 3

6

½ course thro yr.

4

7

Econ.

4 15 15 6

19

Whole courses.

8

8

Econ.

1 519 9 36

2 26 10 188

3 45 11 67
6 122 13

214

9 111 15 13
14 15 20d

3

17 9 20e 12
20 11 21

1

20a 5   25

3

21 60 26 11

22 6(?) Hist. of Relig. 2 50

1144

Deduct 50 given by another Faculty

1705

1655

________________________________________
Whole courses

11

Whole courses

16

Half-courses

11

5 ½

Half-courses

6

3

16 ½

19

Including 5 courses of over 100 students, of which 2 are half courses. Including 5 courses of over 100 students, of which 2 are half courses.

A prompt response to suggestions made to the committee on instruction in economics of the Board of Overseers, as to the needs of the Department, has been made by Mr. Arthur T. Lyman in the shape of a gift of $500, to be expended in the preparation of charts, maps, and other illustrative material. The courses in general descriptive economics, it was felt, can be very greatly improved by the use of such material. Chart cases had already been installed in the new department headquarters, but this will enable the services of an expert draftsman for commencing the preparation of a suitable collection.

Among the other needs of the Department expressed at this meeting was that of an adding and computing machine for use in connection with the courses in Finance and Statistics. It was felt that the so-called “Burroughs Adder,” so generally in use in banking houses and statistical offices, could be utilized to great advantage in the prosecution of original work. The cost of such a machine is approximately $350. It is also to be hoped in the course of time that a collection of illustrative material other than maps may be commenced. This would include, for example, samples of the leading raw materials whose classification enters into tariff discussions and debates, photographs of social and industrial establishments, and other material of this sort. Such a collection, within moderate limits, along the lines of the Philadelphia Commercial Museums, has already been begun at Dartmouth, Ann Arbor, and other places. It should be kept in mind as a possible department at Cambridge.

 

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The Harvard Graduates’ Magazine. Vol. 12, December, 1903, p. 246.

ECONOMICS.

Prof. Taussig has returned after an absence of two years, entirely restored in health. His resumption of work completes the working corps in the department, enabling it to offer its full list of announced courses. The number of graduate students is considerably increased over the preceding years, and there is every prospect of a successful resumption of the regular work in all lines.

The November number of The World’s Work contains the first of a noteworthy series of articles by Prof. Carver upon agricultural conditions in the West. Prof. Carver made a tour of some hundreds of miles on horseback during the summer, principally in the corn belt. It is his intention to supplement this tour by similar observations in other parts of the country in the coming years. This issue of The World’s Work forms distinctively a Harvard number, containing also an article on The Progress of Labor Organizations, by Prof. Ripley.

Among the new courses announced for this year are several by Prof. Bullock, one upon “The History and Literature of Economics,” with an additional research course entitled “Studies in American Finance.” Prof. Gay’s course upon ” The German Economists” last year met with so cordial a response that it has been expanded to a full course, covering the French as well as the German authorities. Mr. H. R. Meyer, having re- signed as an instructor, will continue as a lecturer, giving two courses upon “American Competition in Europe since 1873” and “The Industrial Activities of the State in Australasia and in Europe.”

W. Z. Ripley.

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The Harvard Graduates’ Magazine. Vol. 13, December, 1904, p. 278.

ECONOMICS.

Economics 1 opens with an enrolment of 491 students, and is again the largest elective course in College. Government 1 is a close second, with 481 students; History 1 has 436. The numbers in Economics 1 are distinctly less than last year, which doubtless reflects the decline in attendance in the College at large. More than half of the total are Sophomores (255) ; the Juniors number 102, and the Freshmen 73. The resort to these three courses shows how strong is the trend to ward instruction in subjects connected with political life, and how great is the need for careful teaching and careful organization. Economics 1 continues to be conducted on the system which has been in use for some years past, and has been followed also in Government 1 and History 1. Two hours of lectures are given each week; for the third hour the course is divided into sections, in which there is a weekly examination, coupled with oral discussion of the subjects taken up during the week. Five assistant instructors conduct these sections, and the system seems to solve the problem of large courses satisfactorily.

In line with the policy adopted last year in the Department of paralleling the various undergraduate courses with advanced courses for graduate students, involving more or less research in each special field, Prof. Andrew is this year giving an advanced course upon the theories of crises, as a continuation of his larger course upon crises and cycles of trade.

An experiment intended to deal with the increasing difficulty of giving required reading to constantly enlarging classes will be tried in Economics 9b, through the publication of a casebook in economics similar to those in use in the Law School. The plan is to reprint official documents and detailed descriptions of particular phases of corporate economics, leaving to the lectures the task of supplying the connecting links and of tracing the development of the subject as an organic whole.

A valuable collection of charts of railway mortgages has recently been acquired through the generosity of graduates. These charts, prepared for the different railway systems, illustrate the exact character and situs of the securities. The collection of other charts and diagrams, made possible through the generosity of Mr. Arthur T. Lyman, is also making progress.

Source:  See the listings for the Harvard Graduates’ Magazine at Hathitrust. These are some of the items found using the index for the first twenty volumes.