Categories
Harvard Seminar Speakers

Harvard. Economics Seminary. Speakers and Topics, 1914-1915

 

 

 

The economics seminary at Harvard met fourteen times over the course of the 1914-15 academic year.  

An early sighting of Jacob Viner: R. L. Wolf [Robert Leopold Wolf, summa cum laude in Economics, A.B. Harvard 1915] and J. Viner spoke at the Economic Seminary on “The Theory of the Equilibrium of Supply and Demand,” March 29, 1915.

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

Seminary of Economics 1897-1898.

Seminary of Economics 1891/92-1907/08.

Seminary of Economics 1913/14.

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

Seminary of Economics 1929-1932.

_______________________

Monday, October 5, 1914

Seminary of Economics. “Studies in Spanish Archives, with Special Reference to the History of the Sheep Owners’ Gild or Mesta.” Mr. Julius Klein [Ph.D. 1915]. Upper Dane, 4.30 p.m.

Source: Harvard University Calendar, Vol. X, No. 2, October 3, 1914.

 

Monday, October 19, 1914

Seminary of Economics. “Combinations in the Book Trade and the Regulation of Retail Prices.” Mr. H. R. Tosdal [Ph.D. 1915]. Upper Dane, 4.30 p.m.

Source: Harvard University Calendar, Vol. X, No. 4, October 17, 1914.

 

Monday, November 2, 1914

Seminary of Economics. “The Contest in Congress between Employers and Trade Unionists.” Mr. P. G. Wright. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 6, October 31, 1914.

 

Monday, November 23, 1914

Seminary of Economics. “Cotton Manufacturing in Japan.” Mr. R. J. Ray. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 9, November 21, 1914.

 

Monday, December 7, 1914

Seminary of Economics. “The Tin Plate Industry in Wales and in the United States.” Mr. D. E. Dunbar. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 11, December 5, 1914.

 

Monday, January 11, 1915

Seminary of Economics. “The Meeting of the American Economic Association.” Professor Carver and Dr. J. S. Davis [Ph.D. 1913]. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 16, January 9, 1915.

 

Monday, January 25, 1915

Seminary of Economics. “The Development and Organization of the Grain Trade in Canada.” Mr. W. C. Clark. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 18, January 23, 1915.

 

Monday, February 15, 1915 

Seminary of Economics. “Modern Methods of Real Estate Assessment.” Mr. Alfred D. Bernard, of Baltimore, Md. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 21, February 13, 1915.

 

Monday, March 1, 1915

Seminary of Economics. “State Board of Conciliation and Arbitration in Massachusetts.” Mr. L. A. Rufener [Ph.D. 1915]. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 23, February 27, 1915.

 

Monday, March 15, 1915

Seminary of Economics. “The Struggle in the Colorado Coal Mines.” Mr. J. H. Libby. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 25, March 13, 1915.

 

Monday, March 29, 1915

Seminary of Economics. “The Theory of the Equilibrium of Supply and Demand.” Messrs. R. L. Wolf and J. Viner [Ph.D. 1922]. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 27, March 27, 1915.

 

Monday, April 12, 1915

Seminary of Economics. “Some Aspects of the Federal Valuation of Railways.” Mr. H. B. Vanderblue [Ph.D. 1915]. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 29, April 10, 1915.

 

Monday, May 3, 1915

Seminary of Economics. “The Boston and Maine Reorganization.” Professor Ripley. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 32, May 1, 1915.

 

Monday, May 17, 1915

Seminary of Economics. “The German Steel Kartell.” Mr. H. R. Tosdal [Ph.D. 1915]. Upper Dane, 4.30 p.m.

Source: Harvard University Gazette, Vol. X, No. 34, May 15, 1915.

 

Image Source.  Harvard Square September 23, 1915. “These businesses have weathered decades of change in Harvard Square,” posted at Boston.com.

 

Categories
Chicago Economics Programs Economist Market Economists

Chicago. Memos discussing guests to teach during summer quarter, 1927

 

 

Apparently the 1926 summer quarter course planning at the Chicago department of political economy in 1926 was so wild that the head of the department, Leon C. Marshall, decided to start the discussion for 1927 on the second day of Summer, 1926. Four of the seven colleagues responded with quite a few suggestions.

This post provides the first+middle names where needed in square brackets. Also links to webpages with further information about the suggested guests have been added.

______________________

Copy of memo from
Leon Carroll Marshall

THE UNIVERSITY OF CHICAGO
Department of Economics

Memorandum from L. C. Marshall. June 22, 1926

To: C. W. Wright, J. A. Field, H. A. Millis, J. Viner, L. W. Mints, P. H. Douglas, W. H. Spencer

We really must break through the morass we are in with respect to our summer quarter. Partly because of delayed action and partly because of an interminable debating society in such matters we finally get a patched up program which is not as attractive as it should be.

I shall proceed on the basis of the homely philosophy that the way to do something is to do something. I shall try to secure from every member of the group a statement of his best judgment concerning the appropriate course of action for the summer of 1927 and then move at once toward rounding out a program.

Won’t you be good enough to turn in to E57 within the next few days your suggestions and comments with respect to the following issues.

  1. Do you yourself expect to be in residence the summer quarter of 1927?
  2. If you do, what courses do you prefer to teach? Please list more than two courses placing all of the courses in your order of preference. In answering this question, please keep in mind the problem of guiding research. Should you offer a research course?
  3. What are your preferences with respect to hours? Please state them rather fully and give some alternatives so that a schedule may be pieced together.
  4. What courses or subject matter should we be certain to include in the summer of 1927?
  5. What men from outside do you recommend for these courses which we should be certain to include? Please rank them in the order of your preference.
  6. Quite aside from the subject matter which you have recommended above, what persons from the outside ought we try to make contact with if our funds permit? This gives an opportunity to aid in making up the personnel of the summer quarter in all fields.
  7. Please give any other comments or suggestions which occur to you.

Yours very sincerely,

LCM:G

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Jacob Viner

The University of Chicago
Department of Political Economy

July 1, 1926

Dear Mr. Marshall

I will want to offer 301 (Neo-class Ec.) & 353 (Int Ec. Pol) as usual next summer, though if we have a good outside theorist to give 301, I would like to give a course on Theory of Int Trade in addition to 353. I think we need someone especially in Banking, next in theory. Beyond these we should offer work in some of the following, if we can get first rankers: statistics, private finance, transportation, economic history of Europe & ec. Hist. of U.S.

I suggest the following from which selections could be made:

Banking

Theory Statistics Transportation

Ec. Hist.

[Eugene E.]
Agger

 

[Benjamin Haggott] Beckhart

 

[Allyn Abbott]
A.A. Young

 

[Chester Arthur]
C. A. Phillips

 

[Oliver Mitchell Wentworth]
Sprague

 

[James Harvey] Rogers

 

[Ernest Minor] E.M. Patterson

[Allyn Abbott]
Young

 

[Jacob Harry]
Hollander[Frank Hyneman] Knight

 

[Albert Benedict] Wolfe

 

[Herbert Joseph] Davenport

[Henry Roscoe] Trumbower

 

[Homer Bews] Vanderblue

[Melvin Moses] M.M. Knight

 

[Abbott Payson] A.P. Usher

As other possibilities I suggest [George Ernest] Barnett, [James Cummings] Bonbright, [Edward Dana] Durand, [Edwin Griswold] Nourse, [Sumner Huber] Slichter, John D. [Donald] Black, Holbrook Working, [Alvin Harvey] Hansen.

[signed]
J Viner

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Paul Howard Douglas

The University of Chicago
The School of Commerce and Administration

June 29, 1926

Professor L. C. Marshall
Faculty Exchange

Dear Mr. Marshall:

You have hit the nail on the head in your proposal to get under way for next summer, and I am very much pleased at your action. Answering your questions specifically may I say—

  1. That I do not expect to be in residence for the summer quarter of 1927.
  2. &3. Since I shall not be in residence no answers to these questions are, I take it, necessary.

 

  1. We should, I think, be certain to include adequate work in the following fields (a) Economic theory, (b) Monetary and banking theory, (c) Labor problems, (d) Statistics and quantitative economics, (e) Taxation and Public finance, (f) Economic history.
  2. As regards men from outside, I would recommend the following in each field: (a) Economic theory—[Herbert Joseph] H. J. Davenport, [John Rogers] J. R. Commons, [Frank Hyneman] F. H. Knight; (b) Monetary and banking theory—[Allyn Abbott] A. A. Young, [Oliver Mitchell Wentworth] O.M.W. Sprague, [James Waterhouse] James W. Angell; (c) Labor problems—Selig Perlman, Alvin [Harvey] H. Hansen; (d) Statistics and quantitative economics—[Frederick Cecil] F. C. Mills, [Robert Emmet] R. E. Chaddock, [William Leonard] W. L. Crum; (e) Taxation and public finance—[Harley Leist] H. L. Lutz, [William John] William J. Shultz; (f) Economic history—[Norbert Scott Brien] N. S. B. Gras.
  3. As people from outside to try for, might it not be possible to secure some one from England, such as [John Atkinson] John A. Hobson, Henry Clay, or [Dennis Holme] D. H. Robertson? Might it not also be possible to get Charles Rist from France or [Werner] Sombart from Germany?

Faithfully yours,
[signed]
Paul H. Douglas

P.S. The news that [Henry] Schultz and [Melchior] Palyi are to be with us next year is certainly welcome. Should we not let everyone know that they are coming, and should not a news note to this effect be sent on to the American Economic Review? [Handwritten note here: “Mr. Wright doing this”]

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Lloyd Wynn Mints

The University of Chicago
The School of Commerce and Administration

July 16, 1926

Memorandum to L. C. Marshall from L. W. Mints, concerning the work of the summer quarter, 1927.

  1. It is my present intention not to be in residence during the summer quarter, 1927, although I will be in the city, I suppose.
  2. It appears to me that we should attempt to get men from the outside who would represent some of the newer points of view rather than the orthodox fields. I should suppose that it would be desirable to have a man in statistics and, if he could be found, somebody to do something with quantitative economics. For the statistics I would suggest [William Leonard] Crum, [Frederick Cecil] Mills, [Frederick Robertson] Macaulay, [Willford Isbell] King, [Bruce D.] Mudgett, [Robert] Riegel. I am ignorant of the particular bents of some of the statistical men, but I should suppose that in quantitative economics [Holbrook] Working, [Alvin Harvey] Hansen, or [William Leonard] Crum might do something. Perhaps [Edmund Ezra] Day should be added to the men in Statistics.
    In economic history, as I remember it, we have had no outside help for a long time. I should like to see either [Noman Scott Brien] Gras or Max [Sylvius] Handman give some work here in the summer.
    Particular men who represent somewhat new points of view, and who might be had for the summer, I would suggest as follows: [Lionel Danforth] Edie, [Oswald Fred] Boucke, [Morris Albert] Copeland, [Sumner Huber] Slichter.
    In addition I should like very much to see either [Edwin Robert Anderson] Seligman or [John Rogers] Commons here for a summer.

[signed]
L.W.M.

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Harry Alvin Millis

Answers to questions re Summer Teaching, 1927

  1. Yes, I feel that I must teach next summer unless that plan you have been interested in goes through.
  2. 342 [The State in Relation to Labor] and 440 [Research].
  3. 342 at 8; 440 hour to be arranged.
  4. 5. 6.: Should get a better rounded program than we have had. Should have an outstanding man in economic theory and another in Finance. For the former I would mention [John] Maurice Clark, [John Rogers] Commons, and [Frank Hyneman] Knight—in order named. For the latter I would mention [Allyn Abbott] Young, [James Harvey] Rogers. If we can get the money I should like to see [George Ernest] Barnett brought on for statistics and a trade union course.

 

  1. Would it be possible to have a seminar which would bring together the outside men and some of the inside men and our mature graduate students—these hand-picked? It might be made very stimulating.

[Signed]
H. A. Millis

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Chester Whitney Wright

The University of Chicago
The Department of Political Economy

Memorandum to Marshall from Wright

Summer 1927
First term some aspects of economic history
1:30 or 2:30
May have to teach the whole summer but hope I can confine it to first term.
Can teach any phases of subjects in any fields suitable for term.

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
James Alfred Field

[No written answer in the folder: however L. C. Marshall noted that Field would not be teaching in the summer term of 1927]

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
William Homer Spencer

The University of Chicago
The School of Commerce and Administration
Office of the Dean

July 12, 1926

Mr. L. C. Marshall
The Department of Political Economy

My dear Mr. Marshall:

As Mr. [Garfield Vestal] Cox does not wish to teach during the Summer Quarter of 1927, I wish the Department of Political Economy would try to get Mr. [Edmund Ezra] Day of Wisconsin [sic, Michigan is correct] who could give both a course in statistics and a course in forecasting. Forecasting is not given this summer and unless we get someone from the outside to give it, I presume it will not be given next summer.

Why does not the Department of Political Economy for the coming summer get someone like Mr. [Leverett Samuel] Lyon to give an advanced course in economics of the market for graduate students? The Department of Political Economy could handle half of his time and I perhaps could handle the other half for market management

Now that it appears that the Department of Political Economy cannot get any promising young men in the Field of Finance, why do you not try for [Chester Arthur] Phillips of Iowa? He will give good courses and will draw a great many students from the middle west to the University.

So far as my own program is concerned, I have not made much progress. I tried to get [Roy Bernard] Kester of Columbia, but he turned me down. I am placing a similar proposition before [William Andrew] Paton of Michigan. In the Field of Marketing, I am trying for [Frederic Arthur] Russell of the University of Illinois to give a course in salesmanship primarily for teachers in secondary schools. Otherwise I have made no progress in getting outside men for next summer.

Yours sincerely,
[signed]
W. H. Spencer

WHS:DD

Source:  University of Chicago Archives. Department of Economics. Records. Box 22, Folder 7.

Categories
Courses Harvard Principles

Harvard. Report on the Recitation Sections of Principles of Economics, 1913-14

 

 

A member of the Department of Economics Visiting Committee, John Wells Morss, took it upon himself to sit in and observe classroom performance in the recitation sections of the Harvard Principles of Economics course during the Fall term of 1913-14. From the first paragraph of his report it would appear that the department of economics had invited him to provide a report to serve as a complementary (friendly?) assessment to the survey being (or to be) conducted by the Harvard Division of Education on teaching in the economics department. That Division of Education report was later published: The Teaching of Economics in Harvard University—A Report Presented by the Division of Education at the Request of the Department of Economics. Cambridge: Harvard University Press, 1917. 

Morss’ report was passed along to President A. Lawrence Lowell of Harvard by the chairman of the department of economics, Charles Bullock, for-the-(positive)-record. While the report seems rather long-winded by today’s standards, it does provide us some good information, e.g. about the importance of the weekly questions discussed in the recitation sections. For a sample of the questions we are fortunate to have the published record.

Edmund Ezra Day and Joseph Stancliffe Davis. Questions on the Principles of Economics. New York: 1915.
“A few of the questions here presented are frankly borrowed from previously published collections…More of the questions have been drawn from a stock accumulated through several years in the hands of the instructing staff of the introductory course in Economics at Harvard University.” (p. vii)

The questions were arranged by topics to follow Taussig’s own textbook Principles of Economics (Second, revised edition of 1915: Volume OneVolume Two).

Another interesting takeaway is that Morss noted that over the four weeks that he attended sections, the average amount of assigned reading for these recitations was 33 pages per week from the Taussig textbook. This certainly seems modest from the perspective of today’s nominal reading lists but perhaps actually corresponds to the actual reading completed by the average undergraduate in an introductory or intermediate economics course.

Note: Since the following items come from the last folder from a box that contains the papers of President Lowell of 1909-14 and the month of February is significantly closer to the start than the end of the year, it seems likely that the date, “1913”, found in the typed date on Charles Bullock’s cover letter was mistaken and that both items transcribed below are from February 1914.

 __________________

Course Announcement and Description, 1913-14

[Economics] A. (formerly 1). Principles of Economics. Tu., Th., Sat., at 11.

Professor Taussig and Asst. Professor Day, assisted by Messrs. Burbank, J. S. Davis, R. E. Heilman, and others.

            Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes a consideration of the principles of production, distribution, exchange, money, banking, international trade, and taxation The relations of labor and capital, the present organization of industry, and the recent currency legislation of the United States will be treated in outline.

The course will be conducted partly by lectures, partly by oral discussion in sections. A course of reading will be laid down, and weekly written exercises will test the work of students in following systematically and continuously the lectures and the prescribed reading. course A may not be taken by Freshmen without the consent of the instructor.

 

Source: Harvard University. Division of History, Government, and Economics, 1913-14, published in Official Register of Harvard University, Vol. X, No. 1, Part X (May 19, 1913) , p. 60.

__________________

Course Enrollment, 1913-14

[Economics] A (formerly 1). Professor Taussig and Asst. Professor Day, assisted by Dr. J. S. Davis, and Messrs. P. G. Wright, Burbank, Eldred, and Vanderblue.—Principles of Economics.

Total, 494: 1 Graduate, 1 Business School, 13 Seniors, 129 Juniors, 280 Sophomores, 24 Freshmen. 46 Others.

 

Source: Harvard University. Report of the President of Harvard College, 1913-1914, p. 54.

 

__________________

Examination Questions for Economics A, 1913-14

Mid-year and Year-end final exams for 1913-14 for Economics A have been transcribed and posted earlier. 

__________________

Cover letter from Professor Bullock (Economics)
to President Lowell

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
February 20, 1913 [sic].

Dear Mr. Lowell:

Mr. John Wells Morss of our Visiting Committee has recently completed a very thoro investigation of the work done in the sections of Economics A. I enclose herewith a copy of the Report, which I think, will be of great interest to you. Last Tuesday I had the pleasure of an hour’s conference with Mr. Morss, in which he told me somewhat more fully about this investigation; and I think it may be worth your while to confer with him upon the subject.

Sincerely yours,
[signed]
C. J. Bullock.

__________________

Harvard University

THE SECTION MEETINGS OF ECONOMICS A

Notes by John Wells Morss
February, 1914.

When an amateur attempts to pass upon the work of professionals, a knowledge of his point of view is essential to one who would consider his conclusions. It therefore seems fitting to state that I was invited by the Department of Economics to make an examination of some of its work not because I was expected to reach results comparable to those expected from the examination now being conducted by the Department of Education, but because, as my invitation expressed it, the Department of Economics believed it “important to secure the opinion of some one who represents a different point of view, and brings to the work of inspection the experience of a man of business rather than of a student of education”. I have limited my examination to the work of the section meetings of the Economics Department, and shall limit this report to the work of the section meetings of Economics A, as that course has a large majority of the section meetings of the Department, and to consider them only greatly simplifies what I have to say. I have not compared my results with those of the Department of Education, and I have sought but little to obtain the views of those who conduct the section meetings as to their problems and difficulties lest they overwhelm my own observation.

Economics A, the introductory course to the subject most popular in Harvard College, has an enrollment of students this year of about five hundred and twenty-five. On Saturdays a lecture is delivered to the students in a body in the New Lecture Hall. On two other days of the week each student attends a meeting of the section to which he is assigned. There are twenty-one sections, each with a membership of about twenty-five. They are conducted by five instructors and Assistant Professor Day, all of whom will be referred to as the instructors. Twenty minutes or more of the one hundred minutes given weekly to the section meetings are devoted to writing an answer to a question set by the instructor. As twenty-one section meetings cannot be held at once, the same question cannot be put to all the students of the course; but the six different questions, prepared at a conference of the instructors, are all designed to serve the same purpose of testing the students’ knowledge and comprehension of recent work. I have not attempted to judge either questions or answers, but their usefulness seems to me to be unquestionable. After the answer is written the rest of the two meetings is devoted to a quiz with explanations and discussions based on the required reading which is usually from twenty to fifty pages of Prof. Taussig’s “Principles of Economics”. It is to this part of the work that I have given the most of my attention.

The attendance has been excellent at all the meetings at which I have been present. The maximum number of absences in a section of twenty-five does not ordinarily exceed two. One section had but five absences in six successive meetings beginning in the second week of the fall term. This record may not be equaled at meetings close to holidays and other special occasions, but on the whole the attendance is surprisingly good.

The preparation of the students is stimulated and tested by the questions asked of them by the instructor. So generally did it appear that substantially all the students of a section were called upon in an hour that I ceased after a time to attend to the point, though it seems plain that care should be used not to miss sluggish students assigned to seats in the back of the room. How generally the required reading had been done it was difficult to judge. Perhaps on the average three or four at each meeting answered that they were not prepared. At one meeting near the end of the year in another course than Economics A the preparation had been widely neglected, but that was a single case in my experience, and on the whole it seems that success is attained in the attempt to cause the students to work throughout the year with reasonable regularity.

The attention of the students seemed also satisfactory. Nobody went to sleep and apparently very few were near it. I saw no carving of the desks, though many results of such handiwork are visible. A half dozen raised hands would often indicate a strong desire to answer a question or join in the discussion. A considerable number of questions were asked in the class, some showing thought above the realization of ignorance. At some meetings a few students asked questions after the class, though the total number of those so doing was rather disappointing, considering the theoretical and stimulating nature of the subject.

The quality of the thinking done by the students did not seem to equal their attention. That they should show a lack of practical knowledge and of well considered opinions was to be expected in an elementary course; but they showed a striking incapacity for the simplest mental arithmetic, and on one occasion but few, if any, of them had had the curiosity, when studying the different kinds of currency, to look at the bills in their own pockets. And there was frequently illustrated the difference in result between reading and hard study. Often their ideas seemed hazy and too often a whole class seemed unable to answer a question adequately explained in the text. In other words, one who seeks the thoroughness required of a man is disappointed as is also he who expects to find among these students the indifference of an idle boy. When however one remembers that the average student of an elementary course in college is neither boy nor man, but in progress of development from one to the other, one is reasonably satisfied with the attitude and work of the students, and with their response to what is done for them.

In one particular however it seems that special effort should be made to improve the work of the students. In all the section meetings I attended comparatively few notes were taken. A reason may be that it is difficult to take notes of a running discussion; but the results of the discussions are often summarized by the instructor, and nobody can really take notes who can only report a slowly delivered lecture. Moreover in one case apparently not a single member of a section copied from the blackboard figures excellently illustrating the working of a clearing house. I for one should be glad to see lectures delivered to all the students of the College explaining the importance of note taking, and suggesting various practical methods. Further I would have the instructors of this course informally supplement such lectures from time to time by encouraging good note taking.

When the work of the instructor of a section meeting is considered, it is necessary early to realize that one of the most serious limitations under which he works is that of time. The maximum time available weekly for discussion in the section meetings is a short eighty minutes. The average number of pages assigned to be read in four successive weeks was thirty-three, and an experiment showed that it takes three minutes to read aloud one of those pages very rapidly. In other words there are but eighty minutes to discuss a text which cannot be read rapidly in less than one hundred minutes, and which is usually condensed in statement, closely reasoned and in many points debatable. There has therefore arisen a demand for an additional section meeting. This does not appeal to me. Economics A is a course which should be taken by every student in the College, and it should not require an exceptional amount of time from its students lest the number of them taking it be thereby limited. Moreover an additional fifty minutes would not solve the problem; the cry for still another hour would inevitably follow.

The work of the instructor is also rendered difficult by the exceptional nature of the course itself. Economics A is not only an introductory course, but is also the only course in Economics taken by a large proportion of its members. It embraces a great number of topics, each as a rule involving difficult questions of theory and based on a great variety of facts. The amount of ground to be covered is so great that of most topics only a cursory view can be had. It is impossible to pursue to any considerable extent the method of teaching by asking questions introduced into the Law School by Prof. Langdell. With that method, at least in the first year, but little ground can be covered, the facts must be few and certain, and the students either trained to reason closely or ambitious to become so trained. In Economics A the students are two or three years younger than in the Law School, and the facts and principles involved in a simple economic problem are generally of much greater complexity than those contained in the printed report of a law case. Moreover it is a rare person who does not believe that his general knowledge of economics questions is valuable. Therefore the attempt to teach elementary economics by questioning usually leads into a maze of disputed facts. Frequently therefore the instructor can ask questions only until the points are developed and then must make a statement relative to the matter under discussion. These statements are necessary and save much time, but one wonders occasionally if they are fully understood by the students, and whether a question or two after the statement would not furnish a useful test.

The variety, and to some extent the inconsistency, of the objects sought to be accomplished in the section meetings is another difficulty of the instructor. He seems called upon to see that his students do steady work; to check that work for deficiencies; to emphasize the more important, and explain the more difficult parts of a difficult subject; to stimulate intellectual interest and develop good mental habits; and, so far as time allows, to add to the contribution of others further facts and principles. In other words he must be a drill sergeant, an efficient and inspiring teacher, and an authority overflowing with his subject. An illustration of the problems caused by this diversity of objects presents itself when we consider whether it is better to ask single questions of one student after another, or to ask a considerable number of questions of one student before calling on another. If the latter course is followed, the subject can be more thoroughly and consistently developed, and the questioned student better tested and aroused. But then the poorer members of the class may fail to follow the line of questioning or may even regard the considerable time given to one man as an opportunity mentally to go to sleep. A rattling fire of single questions keeps the whole class wide awake.

An observer who has come to realize some of the difficulties of conducting a section meeting, and has seen different methods pursued by different instructors, is tempted to theorize and to select the methods which he thinks he would adopt if he were himself conducting a meeting. He would call upon his students in an order which they could not forsee, and would call on each one of them at least weekly to test his reading of the text. He would use the single question when the simplicity of the subject matter encouraged it, or the class seemed dull, and would seek the opportunity to develop with one student a more complicated problem by a series of questions. He would realize that the limitation of time made it necessary not to attempt to cover in the class all the ground covered by the text, but to plan carefully what topics should be touched upon and the amount of time to be given to each of them, even if his intention was not to hold rigidly to his plan, but to meet the needs of his class as it developed in the meeting. He would try to present in some measure of scale the most important points, although saving time on those which could not fail to be seized by the students because of their relative simplicity or general popular interest. In such an introductory course he would tend to emphasize reasons rather than conclusions, and theory rather than facts, although he would welcome an opportunity to explain and illustrate the actual working in detail of practical affairs. He would as a rule follow the opinions of the text and not complicate a problem by introducing too often his own opinions or those of other authorities; nor would he expect himself largely to contribute additional material to the discussion; yet he would avoid frequent references to the text by name, but endeavor to have a proposition rest not on the authority of the writer but on its own reasonableness. Realizing that a problem is half solved when the definitions of its terms are accurately determined, he would emphasize the importance of the exact meaning of words, and would not infrequently write on the blackboard a list of significant words and phrases as an outline for the work of the meeting.

But even if a method could be determined upon which would be better than any other, its creator would still be far from his goal. The very perfection of the method of one instructor may cause his class to bow to it and hardly ask a question, while the apparent deficiencies of another’s method seems to stimulate his class to ask questions until the ground is well covered. Again a method highly successful with one teacher cannot be effectively pursued by another; and the needs of the students, even of the students of the same section, vary greatly from time to time. Moreover almost every conclusion embodied in a method is a resultant of conflicting considerations and its application is a question of degree. One therefore is here led to an opinion often reached before in similar cases that good teaching is primarily a matter not of method, but of judgment, energy and skill in the teacher.

In studying the characteristics of the instructors of Economics A, one first notes that they are men of very diverse temperaments, experience and methods. So different are they that when I learned that they had a weekly meeting I thought that they might greatly help each other by consultation about their common work, especially as most of them obtain in in this course their first experience in teaching. I was distinctly disappointed when I learned that the object of their weekly meeting was mainly to prepare the questions for the written answer, rather than to consult about the next week’s teaching. Still much consultation, if attempted, might easily become formal or cramping, and it may be better that each should be left alone to work out his results, and that we should trust that freedom will continue to justify itself by its fruits. Whichever plan is followed, the probability that there will occasionally be employed an instructor of inferior quality is sufficiently great to raise the question whether it would not be desirable to have each section taught by different instructors in the first and second half years. This would guarantee to each section at least a half year’s good instruction, and in addition would give to the students the advantage of two methods and two points of view.

In conclusion I am happy to be able to report that in my opinion the instructors of the section meetings of Economics A, with all their differences, are men of an exceptionally high average of ability and earnestness, and that their instruction is notably good,–much better than I had expected to find. The expenditure in the past few years of additional money to better the grade of these instructors has been justified by results, and those responsible for it are entitled to congratulations.

 

Source: Harvard University Archives. President Lowell’s Papers 1909-1914, Box 14, Folder 404.

Image Source:  Wikimedia Commons photograph by Bill McLaughlin : Lowell Hall, originally called “New Lecture Hall”, Harvard University.

Categories
Economists Harvard History of Economics Northwestern

Harvard. Economics Ph.D. alumnus Homer Bews Vanderblue, 1915

 

Homer Bews Vanderblue (Harvard Ph.D., 1915) won his academic spurs for work on the economics of railroads. He went on to become the Dean of the School of Commerce at Northwestern. Before leaving for Northwestern in 1939 he donated his personal collection of Adam Smith materials to the Harvard Business School’s Baker Library.

_______________________

Homer Bews Vanderblue’s Ph.D. exams at Harvard

General Examination in Economics, Monday, May 11, 1914.
Committee: Professors Taussig (chairman), Turner, Sprague, Day, and Dr. Copeland.
Academic History: Northwestern University, 1907-12; Harvard Graduate School, 1912—. A.B., Northwestern, 1911; A.M. ibid., 1912. Assistant in Economics, Harvard, 1913—.
General Subjects: 1. Economic Theory and its History. 2. Statistics. 3. History of American Institutions since 1789. 4. Economic History since 1750. 5. Commercial Organization. 6. Transportation.
Special Subject: Transportation.
Thesis Subject: “Railroad Valuation.” (With Professor F. W. Taussig and Mr. E. J. Rich.)

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1913-14”.

Note:  Thesis published as Railroad Valuation, Boston: Houghton Mifflin, 1917.  It was awarded second prize ($500) in Class A of the Hart, Schaffner & Marx competition.

_______________________

From the 1941 Harvard Business School Yearbook

Homer Bews Vanderblue
Honorary Curator of Early Economic Literature

Degrees: A.B., 1911; A.M., 1912, Northwestern University; Ph.D., 1915 Harvard University.

History in Brief: Instructor in Economics, Harvard College, 1914-15; Assistant Professor, Associate Professor and Professor of Transportation, Northwestern University, 1915-22; Research Director, Denver Civic and Commercial Association, 1920-21; Economist and Director, Harvard University Committee on Economic Research, 1922-29; Professor of Business Economics, 1922-29; Vice President, Tri-Continental Corporation, New York City, 1929-37; Member, Library Committee, College of William and Mary since 1936; Member, Committee on Economic Bibliography, British Academy since 1937; Honorary Curator of Early Economic Literature since 1936; Dean of College of Commerce, Northwestern University since 1939.

Source: Harvard University, The Harvard Business School Yearbook, 1941, page 37.

_______________________

Death notice from Harvard College President’s Annual Report

Homer Bews Vanderblue, Honorary Curator of Early Economic Literature in the Baker Library, died on July 12, 1952, in his sixty-fourth year. His first appointment at the University was as Assistant in Economics and Proctor in 1913-14. He became Instructor in Economics in 1914-15. Until 1922, he taught at Northwestern University as Assistant Professor, Associate Professor, and Professor of Transportation. From 1922 until his resignation in 1929, he was Professor of Business Economics, and from 1936 until his death he filled the post of Honorary Curator of Early Economic Literature in the Baker Library. He returned to Northwestern as Professor of Business Economics and Dean of the School of Commerce (1939-49).

 

Source: Harvard University. Report of the President of Harvard College and reports of departments, 1951-52, pp. 49-50.

_______________________

Vanderblue as Head of Northwestern’s School of Commerce

Homer Vanderblue becomes the fifth dean of the School of Commerce. Vanderblue proves to be a successful academic and administrative leader, keeping the school functioning during the resource shortages associated with World War II when most business schools curtailed their operations or suspended instruction entirely.

Under Dean Vanderblue, the school shifts away from technical specialization toward a broader managerial education. To accomplish this shift—which would take years to complete—Vanderblue introduces the “rotating chairs” system for academic department heads, thus sidestepping department rigidity. He recruits faculty sympathetic to his goals and ideals of “liberal business education.”

Vanderblue also works to bridge the fiscal gap between what the school generates for the university and what it earns to meet its expenses. Among other things, Vanderblue proposes raising faculty salaries, which had declined during the depression, and constructing new buildings in Evanston and Chicago. Vanderblue admits that to retain the best faculty, he has to draw upon loyalty to Northwestern by “playing on the ‘I love Evanston’ key” to retain the best senior professors, something he is able to do in many cases.

Dean Vanderblue retires due to ill health in 1949.

 

Source: Northwestern University, Webpage: “Kellogg School History: 1938-1947.”

_______________________

Adam Smith—Vanderblue Collection

Baker Library has brought together one of the most comprehensive collections of the works of Adam Smith in the world, with a special focus on The Wealth of Nations. This collection contains virtually all published editions in English of this work, The Theory of Moral Sentiments, and Essays on Philosophical Subjects as well as translations into Chinese, French, Russian, and numerous other languages. Further, it holds many of Smith’s other published materials, manuscript letters, and several volumes from Smith’s own library. Harvard Business School Professor Homer B. Vanderblue donated the collection in 1939.

Source: https://www.library.hbs.edu/Find/Collections-Archives/Special-Collections/Collections/European-Economic-History-Philosophy-Kress-Collection/Adam-Smith-Vanderblue-Collection

Image Source: Homer Bews Vanderblue from the 1946 volume of the Northwestern University yearbook Syllabus. Colorized by Economics in the Rear-view Mirror.

Categories
Economists Fields Harvard

Harvard. Ph.D. Examination Candidates in Economics, 1913-1914

 

 

For seventeen Harvard economics Ph.D. candidates this posting provides information about their respective academic backgrounds, the six subjects of their general examinations along with the names of the examiners, the subject of their special subject, thesis subject and advisor(s) (where available).

________________________________________

 

DIVISION OF HISTORY AND POLITICAL SCIENCE
EXAMINATIONS FOR THE DEGREE OF PH.D.
1913-14

Notice of hour and place will be sent out three days in advance of each examination.
The hour will ordinarily be 4 p.m.

 

Arnold Warburton Lahee.

General Examination in Economics, Wednesday, February 25, 1914.
Committee: Professors Bullock (chairman), Taussig, Gay, Ripley, Anderson, and R. B. Perry.
Academic History: Harvard College, 1907-11; Harvard Graduate School, 1911-12, 1913—. A.B., Harvard, 1911; A.M. ibid., 1912. Assistant in Economics, Harvard, 1911-12; Professor of Economics, University of Vermont, 1912-13.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology. 4. Statistics. 5. Public Finance. 6. Philosophy.
Special Subject: Public Finance.
Thesis Subject: “Municipal Expenditures in Massachusetts.”

 

Rufus Stickney Tucker.

Special Examination in Economics, Thursday, April 30, 1914.
General Examination passed May 29, 1913.
Academic History: Harvard College, 1907-11; Harvard Graduate School, 1911-13. A.B., 1911; A.M., 1912. Assistant in Economics, 1913—.
General Subjects: 1. Economic Theory. 2. Statistics. 3. Money and Banking. 4. Economic History since 1750. 5. History of American Institutions. 6. Public Finance.
Special Subject: Public Finance.
Committee: Professors Bullock (chairman), Taussig, Sprague and Day.
Thesis Subject: “The Incidence of Taxes on Real Estate.” (With Professor Bullock).
Committee on Thesis: Professors Bullock, Taussig, and Day.

 

John Ise.

Special Examination in Economics, Friday, May 1, 1914.
General Examination passed May 2, 1913.
Academic History: University of Kansas, 1904-11; Harvard Graduate School, 1911—. Mus.B., Kansas, 1908; A.B., ibid., 1910; LL.B., ibid., 1911; A.M., Harvard, 1912. Assistant in Economics, 1912-13.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology and Social Reform. 4. Public Finance and Financial History. 5. Money, Banking, and Crises. 6. Jurisprudence.
Special Subject: Economics of Agriculture.
Committee: Professors Bullock (chairman), Turner, Gay, Carver, and James Ford.
Thesis Subject: “History of the Forestry Policy of the United States.”
Committee on Thesis: Professors Bullock, Turner, and R. T. Fisher.

 

Harry Rudolph Tosdal.

General Examination in Economics, Monday, May 4, 1914.
Committee: Professors Ripley (chairman), Taussig, Bullock, Sprague, and Holcombe.
Academic History: St. Olaf College, 1906-09; Universities of Berlin and Leipsic, 1911-12; Harvard Graduate School, 1913 (Jan.)—. S.B., St. Olaf College, 1909. Assistant in Economics, 1913.
General Subjects: 1. Economic Theory and its History. 2. Public Finance. 3. Economic History since 1750. 4. Transportation. 5. Municipal Government. 6. Industrial Organization.
Special Subject: Industrial Organization.
Thesis Subject: “The German Kartell Movement.” (With Professor Ripley.)

 

Robert Campbell Line.

General Examination in Economics, Wednesday, May 6, 1914.
Committee: Professors Bullock (chairman), Turner, Ripley, Day, and Anderson.
Academic History: University of Montana, 1906-10; Harvard Graduate School, 1910-12. A.B., Montana, 1910; A.M. Harvard, 1911. Instructor in Economics, Mt. Holyoke College, 1912—.
General Subjects: 1. Economic Theory. 2. Sociology. 3. Agricultural Economics. 4. Public Finance and Financial History. 5. Transportation and Foreign Commerce. 6. History of American Institutions since 1789.
Special Subject: Agricultural Economics.
Thesis Subject: “The Meat Supply of the United States.” (With Professor Carver.)

 

William Clifford Clark.

General Examination in Economics, Thursday, May 7, 1914.
Committee: Professors Taussig (chairman), Gay, Ripley, Munro, and Anderson.
Academic History: Queen’s University, 1906-12; Harvard Graduate School, 1912—. A.M., Queen’s, 1910. Tutor in Latin, Queen’s, 1910-12.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology. 4. Modern Government. 5. International Trade and Tariff Policy. 6. Labor Problems.
Special Subject: International Trade and Tariff Policy.
Thesis Subject: “The Canadian Grain Trade.”

 

Harley Leist Lutz.

Special Examination in Economics, Friday, May 8, 1914.
General Examination passed May 14, 1909.
Academic History: Oberlin College, 1904-07; Harvard Graduate School, 1907-09. A.B., Oberlin, 1907; A.M., Harvard, 1908. Austin Teaching Fellow, Harvard, 1908-09; Sheldon Travelling Fellow, 1911-12; Associate Professor of Economics, Oberlin, 1909—.
General Subjects: 1. Economic Theory and its History. 2. Economic History to 1750, with special reference to England. 3. Sociology and Social Reform. 4. Money, Banking, and Commercial Crises. 5. Public Finance and Financial History. 6. History of American Institutions.
Special Subject: Public Finance.
Committee: Professors Bullock (chairman), Taussig, Sprague, and Day.
Thesis Subject: “State Control over the Assessment of Property, with special reference to the State Tax Commissions.” (With Professor Bullock.)
Committee on Thesis: Professors Bullock, Day, and Holcombe.

 

Louis August Rufener.

General Examination in Economics, Monday, May 11, 1914.
Committee: Professors Ripley (chairman), Bullock, Gay, Munro, and Anderson.
Academic History: University of Kansas, 1907-12; Harvard Graduate School, 1912—. A.B., Kansas, 1911; A.M. ibid., 1912. Assistant in Economics, 1913—.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology. 4. Public Finance. 5. Labor Problems. 6. Municipal Government.
Special Subject: Labor Problems.
Thesis Subject: “The Work of the Massachusetts State Board of Conciliation and Arbitration.” (With Professor Ripley.)

 

Homer Bews Vanderblue.

General Examination in Economics, Monday, May 11, 1914.
Committee: Professors Taussig (chairman), Turner, Sprague, Day, and Dr. Copeland.
Academic History: Northwestern University, 1907-12; Harvard Graduate School, 1912—. A.B., Northwestern, 1911; A.M. ibid., 1912. Assistant in Economics, Harvard, 1913—.
General Subjects: 1. Economic Theory and its History. 2. Statistics. 3. History of American Institutions since 1789. 4. Economic History since 1750. 5. Commercial Organization. 6. Transportation.
Special Subject: Transportation.
Thesis Subject: “Railroad Valuation.” (With Professor F. W. Taussig and Mr. E. J. Rich.)

 

Eugene Mark Kayden.

General Examination in Economics, Wednesday, May 13, 1914.
Committee: Professors Taussig (chairman), Bullock, Gay, Ripley, and R. B. Perry.
Academic History: University of Colorado, 1908-12; Harvard Graduate School, 1912-13; Princeton Graduate School, 1913—. A.B., Colorado, 1912; A.M. Harvard, 1913.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Money and Banking. 4. Public Finance and Financial History. 5. Philosophy. 6. Labor Problems and Labor History.
Special Subject: Labor Problems.
Thesis Subject: “The Labor Movement in the United States, 1890-1912.” (With Professors Taussig and Ripley.)

 

Percy Gamble Kammerer.

General Examination in Economics (Social Ethics), Thursday, May 14, 1914.
Committee: Professors Taussig (chairman), Ripley, Day, Anderson, Foerster, and R. B. Perry.
Academic History: Harvard College, 1904-06, 1910-12; Harvard Graduate School, 1913(Feb.)—. A.B., 1908 (1913).
General Subjects: 1. Economic Theory and its History. 2. Ethical Theory. 3. Poor Relief. 4. Social Reforms. 5. Sociology. 6. The Labor Questions.
Special Subject: Sociology.
Thesis Subject: (undecided).

 

Hermann Franklin Arens.

General Examination in Economics, Friday, May 15, 1914.
Committee: Professors Taussig (chairman), Sprague, Anderson, Foerster, and Yerkes.
Academic History: Harvard College, 1903-06; Episcopal Theological School, Cambridge, 1906-08; General Theological Seminary, New York, 1908-09; Harvard Graduate School, 1912—. A.B., Harvard, 1907; A.M. ibid., 1913. Assistant in Economics, Harvard, 1912-13; Assistant in Social Ethics, 1913—.
General Subjects: 1. Economic Theory and its History. 2. Sociology. 3. Socialism and Labor Problems. 4. Philosophy. 5. Agricultural Economics. 6. Money, Banking, and Commercial Crises.
Special Subject: Sociology.
Thesis Subject: (undecided).

 

Yamato Ichihashi.

Special Examination in Economics, Monday, May 18, 1914.
General Examination passed May 1, 1912.
Academic History: Leland Stanford Junior University, 1904-08; Harvard Graduate School, 1910-12. A.B., Stanford, 1907; A.M., ibid., 1908. Assistant in Economics, Stanford, 1908-10; Instructor in History and Government, ibid., 1913—.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology and Social Reform. 4. Statistics. 5. Anthropology. 6. Labor Problems and Industrial Organization.
Special Subject: Labor Problems.
Committee: Professors Ripley (chairman), Taussig, Bullock, James Ford, and Foerster.
Thesis Subject: “Emigration from Japan, and Japanese Immigration into the State of California.” (With Professor Ripley)
Committee on Thesis: Professors Ripley, Turner, and Carver.

 

Frederic Ernest Richter.

General Examination in Economics, Monday, May 18, 1914.
Committee: Professors Sprague (chairman), Turner, Gay, Day, and Anderson.
Academic History: Harvard College, 1909-13; Harvard Graduate School, 1913—. A.B., 1913. Assistant in Economics, Harvard, 1912—.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Statistics. 4. Money, Banking and Commercial Crises. 5. Economics of Corporations. 6. History of American Institutions since 1783.
Special Subject: Economics of Corporations.
Thesis Subject: “Underwriting and Marketing Securities in the United States and England.” (With Professor Sprague.)

 

Wesley Everett Rich.

General Examination in Economics, Wednesday, May 20, 1914.
Committee: Professors Bullock (chairman), Turner, Gay, Foerster, and Mr. W. C. Fisher.
Academic History: Wesleyan University, 1907-11; Harvard Graduate School, 1911—. A.B., Wesleyan, 1911; A.M. ibid., 1912. Assistant in Economics, Harvard, 1912-13.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology. 4. Public Finance. 5. Labor Problems and Socialism. 6. History of American Institutions.
Special Subject: Public Finance.
Thesis Subject: “The History of the United States Post Office.”

 

Ralph Cahoon Whitnack.

General Examination in Economics, Wednesday, May 20, 1914.
Committee: Professors Taussig (chairman), Ripley, Sprague, Day, and Anderson.
Academic History: Brown University, 1902-06; Harvard Graduate School, 1909-11, 1913—; Universities of Paris and Munich, 1912-13. A.B., Brown, 1906; A.M., Harvard, 1911. Austin Teaching Fellow in Economics, 1910-11; Instructor in Economics, Brown, 1911-12.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Money, Banking, and Crises. 4. Transportation and Foreign Commerce. 5. Ethics. 6. Sociology.
Special Subject: Theories of Distribution.
Thesis Subject: “Social Stratification.” (With Professors Taussig and Anderson.)

 

Johann Gottfried Ohsol.

Special Examination in Economics, Monday, May 25, 1914.
General Examination passed May 6, 1911.
Academic History: Polytechnic Institute of Riga, 1899-1903; Harvard Graduate School, 1909-11, 1912-13. Candidate in Commerce, Riga, 1903; A.M., Harvard, February, 1914.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology and Social Reform. 4. Public Finance and Financial History. 5. Labor Problems and Industrial Organization. 6. History of American Institutions.
Special Subject: Labor Problems.
Committee: Professors Gay (chairman), Ripley, Foerster, and Holcombe.
Thesis Subject: “The Recent Agrarian Movement in Russia and its Historical Background.” (With Professor Gay.)
Committee on Thesis: Professors Gay, Ripley, and Wiener.

 

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1913-14”.

Image Source: Harvard Yard (between 1913 and 1920). Library of Congress Prints and Photographs Division Washington, D.C.

 

Categories
Courses Exam Questions Harvard

Harvard. Introductory Economics, Final Exams. Taussig, 1914-1915

 

Frank W. Taussig played a central role in Harvard’s economics at two important stages. He was the lecturer for the entry-level Principles of Economics course for undergraduates and the core economic theory course for graduate students. In addition he covered the field of international economics.

The course announcement, enrollment figures, and the final examination questions for his principles course come from four different sources, three of which are available on-line. Over the past few weeks, I have posted corresponding material from the twenty economics courses offered at Harvard during the 1914-15 year for which the final examination questions had been printed and subsequently published.

The following year (1915) Edmund E. Day and R. S. Davis (who belonged to the team of instructors and assistants for this principles course) published their Questions on the Principles of Economics (New York, Macmillan) that was arranged by topics to follow Taussig’s own textbook Principles of Economics (Second, revised edition of 1915: Volume One; Volume Two).

______________________ 

Course Announcement

Economics A. (formerly 1). Principles of Economics. Tu., Th., Sat., at 11.
Professor Taussig and Asst. Professor Day and five assistants.

Course A is introductory to the other courses. It is intended to give a general survey of the subject for those who take but one course in Economics, and also to prepare for the further study of the subject in advanced courses. It is usually taken with most profit by undergraduates in the second year of their college career. It may not be taken by Freshmen without the consent of the instructor. History 1 or Government 1, or both of these courses, will usually be taken to advantage before Economics A. [p. 61]

Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes a consideration of the principles of production, distribution, exchange, money, banking, international trade, and taxation. The relations of labor and capital, the present organization of industry, and the recent currency legislation of the United States will be treated in outline.

The course will be conducted partly by lectures, partly by oral discussion in sections. A course of reading will be laid down, and weekly written exercises will test the work of students in following systematically and continuously the lectures and the prescribed reading. [p. 62]

Source: Division of History, Government, and Economics 1914-15. Official Register of Harvard University, Vol. XI, No. 1, Part 14 (May 19, 1914).

______________________ 

Course Enrollment

[Economics] A. Professor Taussig and Asst. Professor Day, assisted by Dr. J. S. Davis, and Messrs. P. G. Wright, Burbank, Vanderblue, W. C. Clark, and Monroe.—Principles of Economics.

Total 491: 1 Graduate, 30 Seniors, 137 Juniors, 260 Sophomores, 11 Freshmen, 52 Others.

Source: Report of the President of Harvard College, 1914-15, p. 59.

______________________ 

Mid-year Examination

ECONOMICS A

[Arrange your answers strictly in the order of the questions. Answer all the questions; be concise; plan your answers with care; and leave time for revision at the close.]

  1. In what ways, if at all, is the development of the complex division of labor connected with (a) the monotony of labor; (b) the Industrial Revolution; (c) integration of industry; (d) the recurrence of industrial crises?
  2. Explain: external economies; internal economies. Which set of economies is most significant for the explanation of (a) the localization of industry; (b) increasing returns; (c) the development of monopoly?
  3. If possible distinguish between

(a) diminishing returns and diminishing utility;
(b) by-product and joint product;
(c) joint cost and joint demand;
(d) “corners” and monopolies;
(e) median and arithmetical mean.

  1. Explain briefly the immediate and the ultimate effects (if any) which each of the following changes, taken separately, will tend to have on the price of cotton, cotton-seed oil, and cotton-mill machinery; (a) prohibition of organized speculation; (b) a change of fashion toward greater use of cotton fabrics; (c) doubling of the population of the country. (Assume for all three cases that there is no international trade, and that the quantity of money remains the same.)
  2. In what direction and by what process, if at all, would the following tend to affect the value of money in the United States; (a) increased demand for gold ornaments; (b) increasingly lavish expenditures by spendthrifts; (c) a continued drain of specie to the East; (d) a larger output of silver in the United States; (e) abolition of all legally required banking reserves?
  3. Under what conditions does inconvertible paper money circulate as readily as specie? Under what conditions, not as readily?
    Under what conditions is the value of inconvertible paper money as great as that of specie? Under what conditions is its value less than that of specie?
    State two indications of its having less value than specie. Which of the two is the more significant? Which is the more easily ascertained?
  4. State points of similarity, points of difference, between the Federal Reserve system and the English banking system as regards (a) centralization of reserves; (b) centralization of note issue; (c) measures available for preventing panics.
  5. Under what circumstances, if any, can a country have a permanent excess of imports? Under what circumstances, if any, a permanent outflow of specie? Does an excess of imports lead to an outflow of specie?
    Wherein, if at all, does a country gain or lose in its foreign trade (a) if prices and money incomes are higher than in foreign countries; (b) if prices and money incomes are lower?

Mid-Year. 1915.

Source: Harvard University Archives. Examination Papers in Economics, 1882-1935. Prof. F. W. Taussig. (HUC 7882). Scrapbook, p. 106.

______________________ 

Final Examination

ECONOMICS A

Arrange your answers strictly in the order of the questions.
Answer all the questions.

  1. Explain concisely: —

diminishing returns,
margin of cultivation,
equilibrium of supply and demand,
economic rent.

  1. Construct a simple index number of prices for 1914, using 1908 as the base.

 

1908

1914

Wheat, bbl.

$8.00

$12.00

Coal, ton

8.00

8.00

Iron, ton

18.00

9.00

Lumber, 1000 feet

20.00

15.00

Meat, lb.

.20

.30

Sugar, lb.

.10

.10

(1) Would the index-number point to a rise or a fall in the value of money? (2) Would a Board of Arbitration be justified in recommending a change in wages? If so, on what basis? If not, why not?

  1. Under what circumstances, if under any, will the imposition of a import duty cause the price of the dutiable commodity to fall? Under what will it fail to affect the price? Under what will it cause the price to rise?
  2. To what cause or causes should you ascribe: —

(a) the high level of general wages in the United States;
(b) the high wages of skilled workmen such as plumbers;
(c) the high wages of domestic servants in the United States;
(d) the high wages of trained nurses.

  1. Why is saving no less advantageous for laborers than lavish expenditure? Why do laborers usually favor ” making work “?
  2. “The standard of living affects wages not directly, but ” — how?
    What evidence of varying standards of living appears in the statistics of births and deaths for different countries? for different social classes?
  3. “The special question presented in this regard by the trust movement seems to be whether large-scale management adds something to the gains from large-scale production in the narrower sense. Here, too, it would appear at first sight that the matter may be allowed to settle itself. Let them fight it out and let that form of organization survive which does the work most cheaply.”
    Explain (a) what is meant by large-scale management and large-scale production; (b) what grounds there are for saying that they should be allowed to fight it out, what grounds for saying that they should not; (c) what legislation has recently been enacted in the United States on this subject.
  4. “Important distinctions exist between full-fledged socialism and public management of selected industries.” What are the distinctions?

Final. 1915.

 

Source: Harvard University Examinations. Papers Set for Final Examinations in History, History of Science, Government, Economics, Philosophy, Psychology, Social Ethics, Education, Fine Arts, Music in Harvard College. June 1915, pp. 39-59.

Image Source: Frank W. Taussig in Harvard Class Album, 1915.