Author: Irwin Collier

Chicago. Henry Simons’ classic problem set, 1933.

Post author By Irwin Collier
Post date 2018-04-10

According to Martin Bronfenbrenner, the following problem set devised by Henry Simons for Chicago undergraduates in 1933 was a pedagogical Meisterstück (ok, he just said “one of the most famous problems in economic pedagogy”). It is likely that Paul Samuelson, who considered Simons his best teacher at Chicago, cut his teeth on this problem set as well.

________________

Economics 65-165

M. Bronfenbrenner

A General Problem in Competitive Price

This problem was originally devised by the late Professor Henry C. Simons for Chicago undergraduate classes in 1933. It has lived on to become one of the most famous problems in economic pedagogy. Give yourself plenty of time to work with it. It is not only long but abounds in pitfalls.

There are 1000 firms in a highly competitive industry which produces a standardized product. Each firm owns and operates one plant, which is of the most efficient size. All firms have identical costs, as follows:

Output per week	Total Cost		Output per week	Total Cost
Output per week	Fixed	Variable	Output per week	Fixed	Variable
1	$100	$10	13	$100	$101
2	100	19	14	100	113
3	100	27	15	100	126
4	100	34	16	100	140
5	100	40	17	100	155
6	100	45	18	100	171
7	100	50	19	100	188
8	100	56	20	100	206
9	100	63	21	100	225
10	100	71	22	100	245
11	100	80	23	100	266
12	100	90	24	100	288

The demand curve for the industry is given by: pq = $255,000. Your first task is to make out a demand schedule, and incorporate it in your solution as Appendix 1.

Part i

Draw the supply curve (the sum of the marginal cost curves) and the demand curve of the industry on the same graph (Fig. 1). Read off the equilibrium price and quantity. Prove that your answer is correct by comparing quantities supplied and demanded at prices $1.00 higher and $1.00 lower.

Draw the cost and demand curves of the individual firm on the same graph (Fig. 2). Accompany both graphs (Fig. 1-2) with textual explanation of their construction and of any differences between them.

Part ii

Congress unexpectedly imposes a tax of $4.00 per unit on the manufacture of this commodity. The tax becomes effective immediately and remains in effect indefinitely. Assume:

a. No changes in the economic system other than those attributable to the tax.
b. No change due to the tax has any effect on the prices of productive services used by the industry. (This assumption will be dropped later.)

Draw the new supply curve and the demand curve of the industry (Fig. 3). Read off the new equilibrium price.
Draw the new cost curves and the demand curve of the individual firm (Fig. 4). Explain the construction of these graphs (Fig. 3-4).
Why can the price not remain as low as $15?
Why can the price not rise to and remain at $19?
Precisely what would happen if the price remained for a time at $16?
At precisely what level would the price become temporarily stable? What does it mean to say that this is an equilibrium level?
Suppose the short-run equilibrium price to be $17. How would you answer the query:

“I don’t see why every firm should produce 15 units per day when the price is $17. It would make just as much if it produced only 14, for the 15^thunit adds just as much to expenses as it adds to revenues.” Precisely what would happen if some firms produced 14 units per day and others 15 units?

Would short-run equilibrium be reached at a higher or lower price (and with larger or smaller output) if the elasticity of demand were lower (less than unity? If it were higher (greater than unity)?
What would happen if demand had an elasticity of zero? An elasticity of infinity?

Part iii

As Figure 4 will reveal, the new minimum average cost is $19. The short-run equilibrium price was $17; hence this industry becomes unattractive as an investment, relative to other industries. As plants are worn out, therefore, they will not be replaced; plants will be junked sooner; and even maintenance will be reduced. To simplify the problem, we assume:

Each plant has a life of 1,000 weeks.
The plants in the industry are staggered so that, at the time the tax was imposed, there is one plant 1 week old, one plant 2 weeks old, etc.
At the time the tax was imposed, 20 plants were so near completion that it is impossible to divert them to other uses. These are completed at one-week intervals.

Hence for 20 weeks the price will stay at $17, and then rise gradually as entrepreneurs fail to replace worn-out plants.

What will the situation be at the end of the 25^thweek? (Answer in terms of “greater than” or “less than.”)
When 120 weeks have passed (900 plants left), will the price be above or below $18? Explain carefully.
How many weeks must pass (how many plants must be scrapped) before the price rises to $18? Explain precisely.
Will the output per plant increase or decrease as the number of plants declines?
When 220 weeks have passed (800 plants left), will the price be above or below $19?
How many plants must be scrapped before the price rises precisely to $19?
What would the price be if the number of plants declined to 750? What would be the output per plant? What would happen to the number of plants?
What happens to the short-run supply curve of the industry as the number of plants diminishes? Draw, on the same graph (Figure 5), the supply curve when there are 1,000 firms and 800 firms. Compute elasticities of supply for these two curves at a given price.
How could the process of adjustment, and the final equilibrium, be different.
1. If the elasticity of demand were greater than unity?
2. If the elasticity of demand were less than unity?
  (The significant points are: (1) price, (2) output per plant immediately after the tax is imposed, and (3) number of plants and total output at the new long-run equilibrium).

Part iv (Optional)

Finally, the prices of the productive services will be affected by the purchases of the industry. Some of the services will be specialized: Larger quantities can be secured only at higher prices, and smaller quantities can be secured at lower prices. Assume that all of these services are “fixed”, and that all variable services are unspecialized (i.e., any quantity can be secured by the industry at a constant price).

Will the short-run effects of the tax be any different than they were in Part 2? Explain in detail.
How will the long-run adjustment differ? Will the final price be more or less than $19, and the daily output more or less than 13,421? Again explain in detail.
Suppose that a special and scarce kind of land is required for production of the taxed commodity, and that this land is not used (or within practicable limits usable at all) in the production of any other commodity, and that all other resources are completely unspecialized. What is likely to be the effect of the tax on the price of the use of such land (on its rent)?
Suppose that this special and scarce land is also used in one other industry. Will the rent of this land fall more or less, if the demand for the product of this second industry is elastic or inelastic?

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archives. Papers of Martin Bronfenbrenner, Box 26, Folder “Micro-econ & Distribution, 1958-67, n.d. 2 of 2”.

Image Source: Henry Calvert Simons portrait at the University of Chicago Photographic Archive, apf1-07613, Special Collections Research Center, University of Chicago Library.

Tags Bronfenbrenner, Simons

Johns Hopkins Seminar Speakers

Johns Hopkins. Political Economy Seminar. Presenters and Topics, 1923-24

Post author By Irwin Collier
Post date 2018-04-09

The graduate economic seminary at Johns Hopkins University kept good records of the weekly sessions so that we know the names of all the presenters and their topics. I have added the academic backgrounds for graduate students and faculty alike from the published Johns Hopkins Circular.

The economic seminary schedule for the following years have also been posted:

1903-1904
1904-1905

1922-1923
1923-1924
1924-1925
1925-1926
1926-1927

___________________

POLITICAL ECONOMY
GRADUATE COURSES

The graduate instruction in Political Economy is designed primarily to meet the needs of advanced students preparing for a professional career in economic science. The courses afford systematic instruction in general economic principles, intimate acquaintance with special fields of economic activity, and, most important of all, knowledge of and ability to employ sound methods of economic research. The work centres in the Economic Seminary, the membership of which is limited to the most advanced students, and the primary design of which is to develop scientific research in economic study and investigation…

…The Economic Seminary

Two hours weekly through the year.Professors Hollander and Barnett.
The work of the year will be the study of representative forms of industrial development in the United States, and the analysis of significant activities of American labor organizations.

Source: The Johns Hopkins University Circular, Vol. 44 (March 1925), p. 67.

_________________________

MEMBERS OF THE ECONOMIC SEMINARY
1923-1924

Graduate Students

Baugus, Miss Okie

A.B Berea College 1922. 2^ndyear Political Economy.

Chen, Chao Ming

Fuhkien Provincial College. A.B., Johns Hopkins University 1922. A.M. 1924. 2^ndyear Political Science.

Fedder, Abraham

A.B., Johns Hopkins University, 1921. 3^rdyear Political Economy.

Fossum, Paul Robert

A.B. Park Region Luther College 1915; A.M. Johns Hopkins University 1923. 4^thyear Political Economy.

Gillies, Robert Carlyle

A.B., Princeton University, 1920. 3^rdyear Political Economy

Golden, Miss Helen

A.B., Goucher College 1921. 2^ndyear Political Economy.

Hefner, Helen

A.B. Goucher College 1923. 1^styear Political Economy.

Levin, Benjamin Szold

A.B. Johns Hopkins University 1922. 2^ndyear Political Economy.

Mitchell, George Sinclair

A.B. University of Richmond 1923. 1^styear Political Economy.

Morrissy, Miss Elizabeth

A.B. Beloit College 1908; A.M. Johns Hopkins University 1922. 3^rdyear Political Economy (part-time).

Seibert, Mrs. Louise Cleret

A.B. Goucher College, 1920. 2^ndyear Political Economy (part-time).

Shaw, Albert, Jr.

A.B. Princeton University, 1919. 1^styear Political Economy.

Shocket, Louis

A.B. University of Richmond 1923. 1^styear Political Economy.

Siegel, Miss Jeanette R.

A.B. Goucher College 1922. 2^ndyear Political Economy.

Faculty

George Ernest Barnett, Professor of Statistics [at present rank, 1911-; first appointment, 1901]

A.B., Randolph-Macon College, 1891; Fellow, Johns Hopkins University, 1899-1900, and Ph.D., 1901.

George Heberton Evans, Jr., Instructor in Political Economy [first appointment, 1924]

A.B., Johns Hopkins University, 1920.

Jacob H. Hollander, Professor of Political Economy [at present rank, 1904-; first appointment, 1894]

A.B., Johns Hopkins University, 1891, Fellow, 1893-94, and Ph.D., 1894; Treasurer of the Island of Porto Rico, 1900-01; Special Commissioner Plenipotentiary to Santo Domingo, 1905-06; Financial Adviser of the Dominican Republic, 1908-10; Member of the Academic Council.

Broadus Mitchell, Associate in Political Economy [at present rank, 1922-; first appointment, 1919]

A.B., University of South Carolina, 1913; Fellow, Johns Hopkins University, 1916-17, and Ph.D., 1918.

William Oswald Weyforth, AssociateProfessor in Political Economy [at present rank, 1922-; first appointment, 1919]

A.B., Johns Hopkins University, 1912, and Ph.D., 1915; Instructor, Western Reserve University, 1915-17.

Seminar Presentations
1923-24

October 10, 1923

The opening meeting of the economic seminary of the session was held in room 315 on Wednesday at 2 o’clock. Professor [George E.] Barnett read a paper on “Collective Bargaining in the Anthracite Industry”.

October 17, 1923

Professor [Jacob H.] Hollander read a paper on “Combination and Profits in the Anthracite Coal Industry”.

October 24, 1923.

Associate Professor [William O.] Weyforth read a paper on “Earnings in the Anthracite Coal Industry as Disclosed by the Annual Corporate Reports.”

October 31, 1923

Professor [George E.] Barnett read a paper on the “Earnings of Anthracite Railways”.

November 7, 1923

Mr. [Abraham] Fedder read a paper on “Occupational Changes in the United States”.

November 14, 1923

Dr. [Broadus] Mitchell read a paper on “Cotton Mills in Southern Civilization”.

November 21, 1923

Mr. [Paul Robert] Fossum read a paper on the “Cooperative Elevator Movement in North Dakota”.

November 28, 1923

Professor [George E.] Barnett read a paper on the “Probable Yield of the Income Tax in Maryland”.

December 5, 1923

Mr. [Albert] Shaw [Jr.] read a paper on the “Cooperative Marketing of Milk”.

December 12, 1923

Mr. [Chao Ming] Chen read a paper on “The Land Tax in China”.

December 19, 1923

Mr. [Benjamin Szold] Levin read a paper on the “Farm Loan Banks”.

January 2, 1924

Mr. [George Heberton] Evans read a paper on “Apartment House Rents in Baltimore”.

January 9, 1924

Mr. [Abraham] Fedder read a paper on “Direct Services in the National Income”.

January 16, 1924

Mr. [Paul Robert] Fossum read a paper on “The Agrarian Movement in North Dakota”.

January 23, 1924

Mrs. [Louise Cleret] Seibert read a paper on the “Eight Hour Law for Letter Carriers”.

January 30, 1924

Mr. [Louis] Shockett read a paper on “Immigrants in the Needle Trades”.

February 6, 1924

Mr. [George Sinclair] Mitchell read a paper on the “Population in the Southern Appalachian Mountains”.

February 13, 1924

Mr. [Robert Carlyle] Gillies read a paper on “Readjustment of Relative Freight Rates”.

February 20, 1924

Mr. [Abraham] Fedder read a paper on “Occupational Changes in the United States”.

February 27, 1924

Mr. [Robert Carlyle] Gillies continued his report on “Readjustment of Relative Freight Rates”.

March 5, 1924

Dr. [Broadus] Mitchell read a paper on “Frederick Law Olmsted, A Critic of the Old South”.

March 12, 1924

Mr. [Chao Ming] Chen read a paper on “The Chinese Land Tax”.

March 19, 1924

Mr. [Abraham] Fedder read a paper on “Trade and Transportation in the National Income”.

March 26, 1924

Mrs. [Louise Cleret] Seibert read a paper on “Trade Unionism in France”.

April 2, 1924

Mr. [George Heberton] Evans read a paper on “The Course of Apartment Rentals in Baltimore”.

April 9, 1924

Mr. [Paul Robert] Fossum read a paper on “The Early Agrarian Movement”.

April 16, 1924

Mr. [Albert] Shaw [Jr.] read a paper on “Organizations Among Milk Producers”.

April 23, 1924

Easter Recess—did not hold seminar.

April 30, 1924

Miss [Helen] Golden read a paper on the “Education of Crippled Children in Baltimore”.

May 7, 1924

Miss [Jeanette R.] Siegel read a paper on the “The Social Implications Involved in Violations in the Marriage Laws Among Immigrants”.

May 14, 1924

Dr. [William O.] Weyforth reviewed Mellon’s book–“Taxation—The People’s Business”.

Seminary ended for the year.

Sources: Johns Hopkins University. Eisenhower Library, Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 1. Minutes of the Economic Seminary, 1892-1951. Folder “1922-1940”.

The Johns Hopkins University Circular, Vol. 43 (January 1924).

The Johns Hopkins University Circular, Vol. 43 (November 1924).

Image Source: Webpage “Gilman Hall circa 1920” in the Hopkins Perspective, 1876-Today collection.

Tags Barnett, Hollander, MitchellB, Weyforth

Economists Germany Pennsylvania

Pennsylvania. Short encyclopaedia article on Simon Patten, 1903

Post author By Irwin Collier
Post date 2018-04-08

Today’s artifact is a sample short biography of an American economist that I found in The New International Encyclopaedia (eds.: F.M. Colby, H.T. Peck, and D.C. Gilman) that was published in New York City, 1902-04. This encyclopaedia looks like a convenient source of brief mid- and late-career assessments of the movers-and-shakers of economics at a time when their moves were still shaking (at least their students) that I shall return to from time to time.

For much more on the life and career of this University of Pennsylvania economist, Simon N. Patten, links can be found at the page dedicated to him at The History of Economic Thought website. Cf. Rexford G. Tugwell. “Notes on the Life and Work of Simon Nelson Patten.” Journal of Political Economy, vol. 31, no. 2, 1923, pp. 153–208.

__________________

PATTEN, Simon Nelson (1852—[1922]).

An American economist, born at Sandwich, Ill. He was educated at Jennings’s Seminary (Ill.), Northwestern University (Ill.), and at the University of Halle, Germany, and received the degree of Ph.D. in 1878. During the next ten years he taught in the public schools of Iowa and Illinois. In 1888 he was elected professor of political economy at the University of Pennsylvania. His principal works are: Premises of Political Economy (1885); The Consumption of Wealth (1889) [2^ndedition, 1901]; The Economic Basis of Protection (1890); The Theory of Dynamic Economics (1892); The Theory of Social Forces (1896); Development of English Thought (1899); The Theory of Prosperity (1902); Heredity and Social Progress (1903). Professor Patten ranks as one of the most brilliant and original of American economic writers. His chief contributions to economics are his analyses of dynamic forces in economic life, of monopoly elements in value, and of the bearing of the laws of consumption upon distribution. A large part of his work is rather sociological than economic.

Source: The New International Encyclopaedia, (eds. F. M. Colby, H. T. Peck, and D. C. Gilman) New York: Dodd, Mead & Co. (1903), Vol. 13. p. 797.

Image Source: American Society for the Extension of University Teaching. Supplement to the The University Extension Bulletin. Vol. I, No. 8. Philadelphia: May 10, 1894. Copy found in Box 2 of Franklin Henry Giddings Papers, Columbia Rare Book & Manuscript Library, Folder “Photographs”.

Tags Patten

Curriculum Economists Exam Questions Suggested Reading Toronto

Toronto. Five Annual Examinations in Economics. Ashley and McEvoy, 1891

Post author By Irwin Collier
Post date 2018-04-07

Today’s post was just intended to be a quickie set of five economics exams I found for the University of Toronto from 1891. There turned out to be much more interesting information at the hathitrust.org digital library that I simply had to include: from the University of Toronto Calendar, I was able to obtain course announcements that provide course descriptions as well as list a few key readings. And as though this were not enough, it turns out that it was the practice, at least in Toronto at the end of the 19th century, when applying for a professorship to submit a printed application “cover letter” followed by short “testimonials”. As it so happens, the University of Alberta has copies of Professor William J. Ashley’s application for the vacant Drummond professorship in political economy at Oxford (1890) and of Mr. John Millar McEvoy’s application for Ashley’s vacant chair at Toronto, following Ashley’s move to Harvard in 1892.

Following the “cover letters” with these two abbreviated c.v.’s are the course descriptions for all four economics courses offered at the University of Toronto in 1890-91 and five sets of examination questions.

__________________

To the Electors to the Drummond Professorship.
[From William J. Ashley, November 20, 1890]

My Lord and Gentlemen:

I beg to offer myself as a candidate for the Professorship of Political Economy in the University of Oxford.

I entered Balliol College with a History Scholarship in 1878, took a First-Class in the Honour School of Modern Histor. in 1881, and received the Lothian Prize in 1882. In February, 1885, I was elected to a tutorial Fellowship at Lincoln College, and soon afterwards was also appointed Lecturer in History in Corpus Christi College. Resigning this position in order to be able to devote my time more exclusively to economic studies, I was appointed Professor of Political Economy and Constitutional History in the University of Toronto in 1888; and by the subsequent appointment of an assistant I have recently been enabled to give my whole attention to Economics.

I began the study of Political Economy under the late Arnold Toynbee, whose Lectures on the Industrial Revolution the 18th CenturyI afterwards assisted in preparing for publication. I began to lecture on Political Economy in 1884; and after my appointment at Lincoln I lectured upon it each year; in one course stating and criticizing Modern Economic Theory, and in another following Economic History and Theory in their relation to one another from mediaeval to modern times. I may add that from 1886 to 1888 I acted as Secretary to the Oxford Economic Society; and that in 1887 and 1888 I examined in the Pass School of Political Economy.

Since my arrival at Toronto I have had the task of organizing the new Department of Political Science, a Department which has grown rapidly, and now numbers more than 100 students; and I have lectured on (i) Elementary Political Economy, (2) The History of Economic Theory; (3) The History of Economic Development; (4) Modern Finance. In dealing with the last mentioned subject I have had an opportunity to acquaint myself with the main features of Canadian and American Taxation, Tariffs, Currency, Banking, and similar subjects.

I have also undertaken the editorship of the Toronto University Studies in Political Science, of which the first, on The Ontario Township, has already appeared. For a further account of my work here I beg to refer you to the subjoined letters from the Chancellor and President of the University, the Minister of Education, the Manager of the Bank of Commerce, and from one of my pupils.

My own researches have hitherto been mainly in the field of Economic History. In 1887 the American Economic Association published my Early History of the English Woollen Industry. In 1888 appeared the first volume of my Introduction to Economic Historyand Theory, which I now beg to lay before you, together with the letters concerning it from English and foreign authorities printed below.

There are two directions in which, as it appears to me, it is most desirable to promote economic study in Oxford. Of these one is Public Finance; it might not be impossible

to secure for men who are about to enter into public life, the civil service, or the higher branches of business, a training similar to that provided by some foreign Universities. The other is the history of Economic Phenomena, and of the parallel growth of Economic Theory. While recognizing the value of recent work in the further analysis of theory, there is, I think, reason to believe that the most fruitful field for economic work at the present time in Oxford is the historical. An effort in this direction would be in sympathy with one of the strongest intellectual forces in the University, and it might reasonably be expected to enlist the interest of students in the School of Modern History.

I have the honour to be,

My Lord and Gentlemen,

Your obedient servant,

W. J. ASHLEY.

The University of Toronto,
November 20, 1890.

[…]

Source: Testimonials in Favour of W.J. Ashley M.A., Professor of Political Economy in the University of Toronto: Late Fellow of Lincoln College, Oxford. A Candidate for the Drummond Professorship of Political Economy in the University of Oxford, pp. 1-2.

__________________

TO THE HONORABLE GEORGE WILLIAM ROSS, LL.D.
MINISTER OF EDUCATION FOR ONTARIO.

[Application of ] JOHN MILLAR McEVOY.
Toronto, July 30^th, A.D. 1892.

Sir, — I beg leave to make application for the chair of Political Economy and Constitutional History, in the University of Toronto, lately rendered vacant by the resignation of Professor W. J. Ashley, M.A.

I am a graduate of the University of Toronto in the Honor Department of Political Science. Throughout my course in that department I was first in first-class honors in all economic subjects. Since being graduated in Arts I have taken the University Law Examinations, and have been awarded the LL.B. degree. I have attended two years’ lectures in Osgoode Hall Law School, and have taken the examination required at the end of each year.

I may be permitted to mention the following scientific and literary work : —

My “Essay on Canadian Currency and Banking,” which was awarded the Ramsay Scholarship. This essay, upon examination by some of the leading bankers of Canada, was thought to be so valuable that the various banking institutions of the Dominion in order to have it printed, have offered to take such a number of copies of it, at $1.50 per copy, as will provide for its publication and leave me a handsome margin.
My essay on “Karl Marx’s Theory of Value,” which was read before the Political Science Association of the University of Toronto. This essay was publicly declared by Professor W. J. Ashley, M.A., to be “the ablest exposition of the kernel of the abstract theory of value that it had been his good fortune to have heard or read on any occasion.”
At the invitation of the American Academy of Political and Social Science, which is controlled by the most distinguished Economists on the continent, I contributed a series of articles to their publication, the Annals, upon subjects of economic and historical importance to Canada. These may be seen in the November number of that journal for 1891.
My essay on “The Ontario Township,” which was printed by the Minister of Education, as the first in the series of University of Toronto studies in Political Science, It has received favorable notice from American, English and German Economic Reviews and Journals. It has also been very favorably received by men engaged in the practical working of our municipal institutions. Several American publishing houses have asked me to publish a second edition; and there is a growing demand for it in our own Province.

As Fellow I have had two years’ experience in the practical work of the Department of Political Science in the University of Toronto. In consequence of sickness in Professor Ashley’s family, I had for a time during last year, full charge of the department. During this time I did acceptably Professor Ashley’s work as well as my own. Throughout last year the Constitutional History, both English and Canadian, has been entirely under my charge.

I have had two years’ experience as Examiner in Political Science in the University, and I have been for one year Examiner in Political Economy in the Ontario Agricultural College. My work throughout has been completely satisfactory, which fact may be easily verified by inquiry. What my success as a practical teacher of the science has been, I will leave you to infer from my testimonials.

It is my desire, if appointed, to spend the long vacations of each of the first three or four years at some foreign university, in which a regular course of lectures in Political Science is delivered during the summer months; and in that event I shall be glad to have your government indicate the institution most suitable for the further prosecution of my studies.

[…]

Source: Application and Testimonials of J. M. McEvoy, B.A., LL.B., for the Chair of Political Economy and Constitutional History in the University of Toronto. 1892.

__________________

FACULTY OF LAW

§1.
POLITICAL ECONOMY.

Professor: W. J. ASHLEY, M.A.

FIRST YEAR. (SECOND YEAR IN FACULTY OF ARTS.)

The elements of Political Economy. Value, Price, Wages, Interest, Profits, Rent.

For Reference:

F.A. Walker, Political Economy.
Mill, Political Economy, ed. Laughlin.

SECOND YEAR. (THIRD YEAR IN FACULTY OF ARTS.)

The history and criticism of economic theories.

The Economic ideas of Plato and Aristotle; the influence of Roman law; the teaching of the mediaeval church; Aquinas; the genesis of modern conceptions; the mercantile system; the Physiocrats; Adam Smith, Malthus, and Ricardo; the historical school.

Students are requested to especially examine (i.) Adam Smith, Wealth of Nations, Bk. I, chap. 10, part 2; Bk. IV, chaps. 1, 2, 3, part 2; chap. 7. (ii.) Malthus, Essay on Population, Bk. I, chaps. 1, 2. (iii.) List, National System of Political Economy(trans. Sampson Lloyd), chaps. 10, 11, 12. (iv.) Ricardo, Principles of Political Economy, chaps. 1-6.

For Reference:

Ingram, History of Political Economy.

THIRD YEAR. (FOURTH YEAR IN FACULTY OF ARTS.)

(1) The History of Economic Development, including such topics as the following: the Manor; Guilds; Domestic Industry; Trading Companies; Enclosures; Agricultural changes; the Mercantile System and Protection; the measures of Colbert; the beginnings of modern finance; the Factory System.

For Reference:

Rogers, Six Centuries of Work and Wages.
Ashley, Economic History, vol. I.
Cunningham, Growth of English Industry and Commerce, Bks. IV and V.
Toynbee, Lectures on the Industrial Revolution of the 18^th Century in England.

(2) Modern Economic Questions, including such topics as the following: Socialism; taxation; public debt; currency (including banking); municipal finance; public domain; Government works.

Students are advised to consult such books as the following: Jevons, The State in Relation to Labour and Money; Giffen, Essays in Finance, vol. I, Essays ix, x, xiii, xiv; vol. II, Essay vi; Rae, ContemporarySocialism; Ely, The Labour Movement, and Taxation in American Cities and States; Adams,Public Debts; Seligman, Railway Tariffs, in Political Science Quarterly, vol. II; Adams, Relation of the State to IndustrialAction; and James, Modern Municipality and Gas Supply, in Publications of American Economic Association; Taussig, Tariff History of theU.S.; Felkin, The National Insurance Laws of Germany, in Contemporary Reviewfor August, 1888; Taussig, Workmen’s Insurance, in Quarterly Journal of Economics, vol. II.

Source: University of Toronto Calendar, 1890-91, pp. 43-44.

__________________

University of Toronto.
Annual Examinations: 1891.
Candidates for B.A.

POLITICAL ECONOMY.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

What is Political Economy ?
Illustrate the use of inductionand deductionin Political Economy.
State and criticize the ‘Wage Fund Theory.’
“Landlords were able to pocket the whole advantage of the Corn Laws, and the people suffered that rents might be kept up.” Explain and criticize.
What are the functions of money ?
State arguments for and against the adoption of bimetalism.
Is a government justified in taxing the rich for the benefit of the poor? If so, to what degree?
Distinguish the various meanings attached to the term “socialism.”

* * * *

University of Toronto.
Annual Examinations: 1891.
Candidates for B.A.

POLITICAL SCIENCE.
HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

N.B.—Candidates are requested not to attempt more than eight questions.

Sketch the history of the Teutonic Hanse in England.
Describe the position of the mediaeval villein.
Explain the causes for the decay of the Craft Guilds.
Trace the development of the Poor Laws during Elizabeth’s reign.
Show the importance in English Economic History of the woollen industry.
Distinguish the various stages in the growth of English foreign trade.
Describe the origin of the Bank of England, and explain its connection with the financial measures of the government of William III.
Trace the progress of the East India Company, down to the beginning of the eighteenth century.
What were the social effect of the “Enclosures” of the eighteenth century?
Compare the Merchant Guild with the modern Joint Stock Company.
Illustrate historically the relative advantages and disadvantages of the Factory system of Industry.
Sketch the history of factory legislation in England.

* * * *

University of Toronto.
Annual Examinations: 1891.
Second Year.

POLITICAL SCIENCE.
HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

N.B.—Candidates are requested not to attempt more than eight questions.

Examine the assumption made by some Economists, that all persons will act in such a manner as will secure their own best interests.
What are the relative advantages and disadvantages of the division of labor?
Co-operation in production has not been so successful as co-operation in distribution. How would you account for this?
Define value. How is the value of commodities determined?
“The fundamental cause of rent is difference in fertility.” — Symes. Criticize.
What do you understand by “average rate of profit?”
State the theoretic arguments, if any, in favour of protection and the practical disadvantages, if any, in its application.
What are the objects of trades unions? How far are they suited to the attainment of these objects?
State the various circumstances which explain and justify the payment of interest.
What would be the result if the government were to issue bills to every farmer to the extent of $500 on the security of his real estate?
Illustrate the correct and incorrect use of the phrase “a violation of the laws of Political Economy.”

* * * *

University of Toronto.
Annual Examinations: 1891.
Third Year.

POLITICAL SCIENCE.
ECONOMIC THEORY.
HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

N.B.—Candidates are requested not to attempt more than eight questions.

Show how the mediaeval doctrine of Usury was undermined by the doctrine of Interest.
Describe the “Balance of Bargain” system.
Compare the attitude of Child and Hume towards the Balance of Trade theory.
Comment on the Maxims of Quesnay.
Distinguish the essentials and non-essentials in the teaching of Malthus.
In what case did Adam Smith consider “Protection” desirable.
“What Smith sought to establish was the free competition of equal industrial units; what in fact he was helping to establish was the free competition of unequal industrial units.” Explain and comment upon.
“Back to Adam Smith.” In what sense is this desirable.
State and criticize the “Iron Law of Wages.”
Examine the doctrine laid down by Ricardo that the relative values of commodities are governed by the relative quantities of labor bestowed on their production.
Wherein does List find the teaching of Smith and his school defective.

* * * *

University of Toronto.
Supplemental Examinations: 1891.
Fourth Year.

ARTS.
POLITICAL ECONOMY.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

Does density of population tend to increase or to diminish the per capitaproductiveness of a nation? Apply your conclusions to determine the importance of the Malthusian doctrine of population.
If it were deemed desirable to encourage the manufacturing of steel in Canada would you do so by levying a duty on imported steel, or by giving a bonus per ton for all steel produced in Canada?
Examine the soundness of the two fundamental assumptions upon which the laissez fairedoctrine of the functions of Government proceeds.
“Value depends on supply and demand.”
What limitations and explanations does this statement require ?
“Rents tend to rise with industrial propers .” [sic, “when industry prosper”]
Examine this statement.
On what principles would you proceed to determine what was “fair wages” between master and workman in any given industry?
Describe some of the more important plans recently advanced for the uniting of labour and capital, and examine the expediency of each from an economic standpoint.

Source: University of Toronto. Examination Papers for 1891.

Image Source: William J. Ashley in University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol II (1899), p. 595.

Tags Ashley, McEvoy

Columbia Regulations

Columbia. Requirements for M.A. and Ph.D. degrees in economics, 1946-47

Post author By Irwin Collier
Post date 2018-04-06

The following excerpts from the 1946-47 Announcement of Courses for the Faculty of Political Science at Columbia University provide a clear outline of the requirements and the sequence of thirteen steps an economics Ph.D. candidate needed to take to be successful in the quest for a doctoral degree. The rules and regulations are organized like a set of Matryoshka (nesting) dolls: from a common set of requirements for the three faculties of Political Science, Philosophy and Pure Science, through those rules and regulations common for the departments within the Faculty of Political Science, to those specific to the Department of Economics. For 1946-47 I only have the last two dolls (now), but they are the two most relevant for understanding the structure within which graduate education in economics at Columbia was being conducted.

Favorite quote:

General Undergraduate Preparation. Since graduate study in economics necessarily entails a high degree of concentration in this field, a student planning to enter graduate work is advised not to specialize narrowly in economics during his undergraduate study. Basic training in economics and a knowledge of its general literature and methods are desirable, but for the purposes of more advanced work on the graduate level, there is a greater advantage in the study of history, philosophy, modern languages, and mathematics than in narrowly specialized courses in economics taken as undergraduates.

The previous post includes a 1946 memo regarding the conduct of the oral doctoral examinations.

__________________

REQUIREMENTS FOR ADMISSION AND FOR DEGREES

The general academic requirements for admission as a regular graduate student and the requirements for the degrees of Master of Arts and Doctor of Philosophy are stated in the Graduate Announcement of the Faculties of Political Science, Philosophy, and Pure Science. That Announcement should be consulted by every applicant for admission under those Faculties.

[…]

ADMISSION AND REGISTRATION
[THE FACULTY OF POLITICAL SCIENCE]

REQUIREMENTS

The requirements for admission as a graduate student to work toward an advanced degree in any one of the departments under the Faculty of Political Science are: (a) a Bachelor’s degree in arts, letters, philosophy, or science from an institution approved by Columbia University; (b) a thorough preparation for graduate study as evidenced by a good undergraduate record and a better than average performance on the Graduate Record Examination.

A prospective applicant who does not have a Bachelor’s degree, but who believes that he has had equivalent preparation, may present his credentials to the Director of University Admissions for evaluation.

PROCEDURE

Application and Records. An application blank may be obtained from the Office of University Admissions.

Every applicant must fill out the blank and file it with the Director of University Admissions, and must arrange with each of the colleges or universities he has previously attended to send to the Director full official transcripts of his academic record.

Graduate Record Examination. Before being permitted to register for courses to be credited toward an advanced degree in any of the departments of the Faculty of Political Science, each applicant for admission must file a report of his performance in the Graduate Record Examination. This examination is administered annually in a number of colleges and universities and at other centers throughout the United States. For information regarding time and place of the examination, the prospective applicant should consult the dean of his college or the Graduate Record Office, 337 West 59^thStreet, New York 19, N.Y. This requirement is effective for students applying for admission to begin residence subsequent to September 1946.

Students will be admitted to study under the Faculty of Political Science in September 1946 without having taken the Graduate Record Examination, subject to the understanding that the requirement will be met immediately after registration. The Office of University Admissions will arrange one or more dates for the administration of the examination and will notify all students required to take it.

Students for whom English is not the mother tongue will be admitted on the basis of their school and university credentials. They are asked, but not required, to take the Graduate Record Examination as a matter of record.

Permit to Register. After the application and credentials have been examined and the English requirement satisfied, the applicant, if accepted, will be given a permit to register. This permit will grant admission as (1) a regular graduate student, (2) a probationary graduate student, or (3) an unclassified graduate student. (For explanation of these terms, see the Graduate Announcement, pages 14-15.)

REQUIREMENTS FOR ADVANCED DEGREES

For a general statement of the regulations of the Faculties of Political Science, Philosophy, and Pure Science consult the Graduate announcement, obtainable from the Secretary of the University.

Attention of students under this Faculty is directed particularly to the paragraph on page 15 of that Announcement to the effect that, while no time limit is set for the period of candidacy for the degree of Master of Arts or Doctor of Philosophy, a student must satisfy the requirements that are in effect at the time of the award of the degree.

REQUIREMENTS OF THE FACULTY OF POLITICAL SCIENCE

MASTER OF ARTS

Preliminary Training.The prospective candidate must have received a Bachelor’s degree from Columbia University or from some other approved university or college, or have had an education equivalent to that represented by such a degree, and must have been accepted as a regular graduate student by the Director of University Admissions.
Residence. Every candidate for the degree must register for and attend courses at this University aggregating not less than thirty points distributed over a period of not less than one academic year or its equivalent.
Courses. From the courses for which he has registered to satisfy the residence requirements, the candidate must complete with a satisfactory passing grade courses aggregating not less than twenty-one points, of which at least fifteen must be selected from those offered by departments in this faculty under the heading “General Courses.”
Essay. The candidate must present a satisfactory essay prepared under the direction of some member of this faculty.
Departmental Requirements. Special departmental requirements appear [in] this Announcement. Departmental requirements are in addition to, not a substitute for, the faculty requirements.

DOCTOR OF PHILOSOPHY

General. The degree will be conferred upon students who satisfy the requirements as to preliminary training, residence, languages, matriculation as a candidate for the degree of Doctor of Philosophy, subjects, and dissertation.
Preliminary Training. The requirement is the same as for the Master of Arts candidate.
Residence. The prospective candidate must have pursued graduate studies for at least two academic years, one of which must have been spent at this University while registered under this Faculty, and the other of which, if not spent here, at an institution accepted as offering courses of similar standard. A year’s residence at this University is defined as registration for and attendance upon courses aggregating not less than thirty points distributed over a period of not less than one academic year or its equivalent. Those desiring credit for graduate work completed elsewhere should send to the Director of University Admissions as soon as possible a request for the evaluation of such graduate work.
Language. The prospective candidate must have demonstrated his ability to express himself in correct English and to read at least two languages beside his mother tongue; and he must be able to read such additional languages as may, within the discretion of the Executive Officer of the appropriate department, be deemed essential for the prosecution of his studies.
Matriculation. Upon the completion of not less than one year of graduate residence, after satisfying the department concerned that he is proficient in such languages as it prescribes for a candidate, and that he is prepared to undertake research under its direction, the prospective candidate will be recommended by the department to the Dean for matriculation as a candidate for the degree of Doctor of Philosophy.
Fields. The candidate must have familiarized himself with one field of primary interest and one field of secondary interest. The major and minor fields need not be under the same department.
1. Field of primary interest. The field shall be chosen from the following list:

Ancient history
Medieval history
Modern history of western continental Europe
Modern history of eastern Europe
History of Great Britain and the British Empire
American history
Latin American history
East Asiatic history
History of European thought
Jewish history
Political and social philosophy
American political institutions (including constitutional law)
Foreign political institutions
Public administration (including constitutional and administrative law)
International law and relations
Roman law
Comparative jurisprudence
Economics (including economic theory, economic history, and statistics)
Public and private finance
Social economic problems
Sociology
Anthropology

1. Field of secondary interest. The field of secondary interest may be either an adaptation of one of the subjects in the foregoing list or a special combination of studies selected with a view to the student’s peculiar interests and needs. Such a combination may involve work in more than one department in the Faculty, or work in more than one faculty, or may be wholly under some other faculty of the university. In any case, the choice of the field of secondary interest must be approved by the Executive Officer of the department in charge of the primary field, subject to review by the Committee on Instruction of the Faculty.
  The candidate’s competence in the chosen fields of primary and secondary interest is tested by an oral examination, which is scheduled by the Dean on recommendation of the department concerned. This examination is normally taken toward the end of the second year of graduate study. It must be passed before the student is admitted to the defense of the dissertation. To be examined in any given academic year the student must apply for examination prior to April 1.

Dissertation. The main test of the candidate’s qualifications is the production of a dissertation that will demonstrate his capacity to contribute to the advancement of learning within the field of his selection. This dissertation must give evidence of the candidate’s ability to present in good literary form the results of original researches upon some topic approved by the department concerned. It may be completed either during the period of residence or in absentia. In advance of its being presented before the Faculty for defense, it must be approved by the professor in charge and by the Executive Officer of the department concerned. Such approval, however, is not to be construed as acceptance by the Faculty.
Final Examination. Upon the recommendation of the department concerned the Dean will admit a candidate for the degree to final examination and will appoint a committee to examine him. The department will recommend a candidate for final examination if he has pursued graduate studies for not less than two academic years, at least one of them while a student under this Faculty, if he has satisfied such preliminary examinations or requirements as the Faculty and the department concerned may specify, and if he has prepared a dissertation, embodying the results of his researches, which has been certified by the department as being in form for defense. For the defense, the dissertation may be in galley proof or typescript. If in galley proof, eight copies must be available to examiners at least ten days prior to the examination; if in typescript, five copies must be available three weeks prior to the examination. After its successful defense, the Dean will issue to the candidate a certificate stating that all requirements for the degree except the deposit of printed copies of the dissertation have been met.
Printing Requirement. After the examining committee has approved the dissertation and certified that the candidate has passed the final examination, the candidate shall deliver to the University Libraries seventy-five copies of his dissertation, printed in a form acceptable to the Faculty, before the degree will be conferred. In exceptional cases and as a temporary substitute, the Dean will accept a satisfactory guarantee of such delivery before a specified date, and the degree will then be conferred. (For fuller statement, see the Graduate Announcement, page 19.) The Faculty also requires that printed copies of the dissertation, not to exceed forty-five in number, be delivered to the office of the department concerned for distribution to members of the Faculty.
In the printing of the dissertation certain options are allowed: (a) It may be printed from type and published in book form; (b) it may be published as an article or series of articles in a scholarly journal; (c) with the permission of the Executive Officer of the department concerned, it may be reproduced by an offset process approved by the Dean.
Departmental Requirements. Special departmental requirements appear on succeeding pages of this Announcement. Departmental requirements are in addition to, not a substitute for, the faculty requirements.

[…]

DEPARTMENTAL REQUIREMENTS
DEPARTMENT OF ECONOMICS

As soon as possible after deciding upon economics as the subject of primary interest for the degree of Master of Arts or Doctor of Philosophy, the prospective candidate should report through the secretary of the Department of Economics, in Fayerweather Hall, to the Executive Officer of the Department or his representative to receive fuller instructions.

General Undergraduate Preparation. Since graduate study in economics necessarily entails a high degree of concentration in this field, a student planning to enter graduate work is advised not to specialize narrowly in economics during his undergraduate study. Basic training in economics and a knowledge of its general literature and methods are desirable, but for the purposes of more advanced work on the graduate level, there is a greater advantage in the study of history, philosophy, modern languages, and mathematics than in narrowly specialized courses in economics taken as undergraduates.

Mathematical Preparation. The use of mathematics, including higher mathematics, has become important in several branches of economics and statistics. Much of the recent important literature of general economics is written in a language not easily understood without some knowledge of the differential and integral calculus. A student planning to work for the degree of Doctor of Philosophy in economics will therefore find it advantageous to acquire familiarity with the calculus and with higher algebra before beginning graduate studies in economics.

Master of Arts

General Requirements. In addition to fulfilling the general faculty requirements the student must include graduate courses in economics aggregating not less than fifteen points among the courses aggregating not less than twenty-one points in which he is required to receive examination credit before being recommended for the degree.

Essay. The candidate must select his essay subject, submit it to the appropriate professor within two months after registration as a candidate for the degree, and list this subject in the office of the secretary of the Department.

The selection of a subject of importance within the field of his interests must be made by the student himself, and the ability to make a proper choice will normally be regarded as an essential qualification for the degree. The completed essay must be submitted for approval not later than four weeksbefore the date on which copies of the approved essay are to be filed with the Registrar (see Academic Calendar, pages 77-78). Under no circumstances should the candidate proceed beyond the preparation of his detailed program of investigation and the completion of a preliminary chapter or section without submitting his work to his adviser. In the approval of an essay attention will be paid to excellence of presentation and to expression in correct English as well as to specific content and ability to use original material.

Doctor of Philosophy

Prospective Candidacy. As soon as possible after the beginning of his graduate residence the student shall notify the Executive Officer of the Department of Economics of his intention to become a candidate for the degree of Doctor of Philosophy in Economics. A choice of subjects will be made in consultation with the Executive Officer or his representative. A written examination, intended for students who have thus indicated their intentions, will be given near the end of each session. This examination must be taken before the student may register for more than thirty points of course credit for graduate work. (Students given credit for fifteen or more points for graduate courses completed at other institutions must take the examination before registering for more than forty-five points of course credit, including points credited from another university.) Upon passing this examination a student is classed as a prospective candidate. Prospective candidates are eligible to register for all courses designed for candidates for the degree of Doctor of Philosophy in Economics, for which they have specific prerequisites.

Students taking the examination for prospective candidacy will be required to indicate the field or fields of their research interests.

The Department may deny registration privileges to students who have completed graduate courses aggregating thirty or more points of course credit and who fail to pass the examination for prospective candidacy.

The examination for prospective candidacy will not be required of students who receive credit for 30 or more points of graduate course work completed before June 30, 1946, and who present themselves for oral examination on subjects prior to June 30, 1948.

Languages. The prospective candidate must satisfy the Department of Economics that he can read two modern languages besides his native tongue. The combination of French and German is preferred, but Spanish, Italian, or Russian and another language may be selected with the written permission of the Executive Officer of the Department in cases where it is of particular value to the student’s scholarly interests. The student must pass the test in at least one of the languages before registering at Columbia for courses that will bring the sum total of his graduate credit (for work done at Columbia or elsewhere) to more than thirty points. (Thus a student who already has thirty or more points of graduate credit for work done at another university must pass at least one of the language tests before his initial registration at Columbia for work leading to the doctorate.) The other language test must be passed before he may register for more than forty-five points of course credit (including points credited from another university). The examinations in languages will be held on the following dates: Monday, September 23, 1946 from 2 to 4; Thursday, January 30, 1947, from 2 to 4; Friday, May 2, 1947, from 10 to 12. Students are required to register with the secretary of the Department of Economics at least one week prior to the date of the examination their intention to take such an examination. In case of emergency, and by special permission of the Executive Officer of the Department, an examination in languages may be given at other times.

Matriculation. Upon recommendation of the Department’s matriculation committee a prospective candidate who has completed not less than one year of graduate residence, has met Departmental language requirements, and has satisfied the Department that he is prepared to undertake research under its direction, will be recommended by the Executive Officer of the Department to the Dean for matriculation. Matriculation constitutes formal admission to candidacy for the degree.

Examination on Subjects. The candidate who has fulfilled the preliminary requirements for this degree may make application, through the Executive Officer of the Department, to the Dean for examination in subjects. Such application may be made at any time, but must be made before April 1 in the academic year in which the examination is to be held. The applicant will be notified by the Dean of the date of his examination. This examination is oral and is conducted by a committee of the Faculty appointed by the Dean. By it the applicant will be expected to demonstrate an adequate knowledge of the subjects selected for this examination and of the literature pertaining thereto.

At the time the candidate applies for his examination on subjects he shall submit a memorandum outlining his dissertation project in some detail, analyzing it with respect to source material and the research techniques required for its successful prosecution, and setting forth his plan for carrying the project forward. This memorandum must be approved by the candidate’s adviser and by the Executive Officer of the Department or a committee designated by him before the candidate may be admitted to the oral examination.

The examination on subjects will be focused in part on the area of the candidate’s research interests and the candidate’s research project.

Every candidate for the doctorate must give satisfactory evidence of his grasp of six of the subjects listed below. Three of these subjects must be economic theory, economic history, and statistics. Four of the subjects listed below (among which must be included the three subjects specified in the preceding sentence) are considered to constitute the student’s field of primary interest. The procedure for meeting this requirement is as follows:

The candidate must offer himself for oral examination in four of the subjects listed below. The examination will be on subjects, not on courses.
Before making formal application for this oral examination on subjects, the candidate must satisfy the appropriate professors of economics in the Faculty of Political Science that he has done work which is adequate both in scope and in quality in two subjects (also chosen from those listed below) other than the four to be offered in the candidate’s oral examination. This requirement may be met in any manner satisfactory to the professors concerned—by taking courses, by formal or informal examination, or in other ways. When the requirement has been met, the candidate must secure written certification to this effect from the professors concerned. Arrangements for certification will be made with the Executive Officer of the Department.

The subjects are as follows:

1. Accounting	13. Money and banking
2. Business cycles	14. Prices
3. Corporation and investment finance	15. Public finance
4. Economic geography	16. Public utilities (including transportation)
5. Economic history (required)	17. Socialism and types of national economic organization
6. Economic theory (required)	18. Statistics (required)
7. Industrial organization and control	19. Any other subject approved by the Executive Officer of the Department. Such an optional subject must be included among the four presented for the oral examination.
8. Insurance
9. International trade
10. Labor problems and industrial relations
11. Marketing
12. Mathematical economics

It is the policy of the Department of Economics to encourage students to devote part of their effort to studies outside the Department. The student’s field of secondary interest, to the extent of the equivalent of two of his six subjects, may fall in one of the departments under the Faculty of Political Science, in Philosophy, Psychology, or in another discipline dealing with matters germane to the student’s scholarly interests.

Economic Theory. The candidate will be expected to show acquaintance with the ways in which economic theorists have conceived and treated broader issues, as well as ability to apply economic theory to problems that interest him. The Executive Officer of the Department should be consulted before making a choice of emphasis in preparation for examination.

Dissertation. Investigations and researches for the dissertation may be pursued either in connection with the work of some research course or under the direction and supervision of some member of the Faculty of Political Science independently of any course. Students working on dissertations must keep their advisers informed of the status of their work.

Final Examination: Defense of the Dissertation. At least one month in advance of the time at which he wishes to present himself for the defense of his dissertation, but not later than April 1 in any academic year, the candidate must make application therefor to the Dean, who will thereafter notify him of the date of the final examination. This examination is an oral examination conducted by a committee of the Faculty appointed by the Dean. By it the candidate will be held to a defense of his dissertation in respect of its content, the sources upon which it is based, the interpretations that are made, the conclusions that are drawn, as well as in respect of the candidate’s acquaintance with the literature and available sources of information upon subjects that are cognate to the subject of his dissertation.

The dissertation topic and plans for the prosecution of the study leading to the dissertation will be reviewed at the time of the candidate’s examination on subjects. It is desirable that a substantial start be made on the dissertation while the student is still in residence. If a candidate works on his dissertation in absentia an annual written report of progress will be required.

In summary, the following are the steps to be taken by a student seeking the degree of Doctor of Philosophy in Economics:

Submit to the Office of Admissions an application for admission to the graduate Department of Economics. Arrange to have transcripts of all previous academic records sent to the Office of Admissions by the institutions concerned.
Notify the Executive Officer of the Department of intention to become a candidate for the degree of Doctor of Philosophy.
Make a preliminary choice of subjects in consultation with the Executive Officer or his representative.
Register with the secretary of the Department for examination for prospective candidacy. This examination must be taken before the student may register for more than thirty points of course credit for graduate work, but see fourth paragraph of “Prospective Candidacy” ([see] above). Students taking the examination are required to indicate the field or fields of their research interests.
Apply for test in one foreign language. The test in one language must be passed before the student may register for more than thirty points of course credit for graduate work. (Language tests may be taken at any of the scheduled dates after admission to graduate status.)
Apply for test in second foreign language. The second language test must be passed before the student may register for mort than forty-five points of course credit for graduate work.
Apply through the secretary of the Department to the Matriculation Committee of the Department for Matriculation (i.e. formal admission to candidacy for the doctoral degree).
Arrange with professors concerned for certification examinations on two of the six subjects offered. Certification examinations may be taken at any time, on consultation with the professor in charge, after admission to graduate status.
Apply to the Executive Officer for permission to take examination on subjects. This application must be made before April 1 in the academic year in which the examination is to be held. At the time of application, the candidate must submit to the Executive Officer a memorandum outlining his dissertation project. This memorandum must previously have been approved by the candidate’s adviser and by the Executive Officer or a committee named by him.
Submit dissertation to the professor in charge and to the Executive Officer of the Department. Obtain the Department’s assurance that the dissertation is in form for defense, and the Department’s recommendation to the Dean that the candidate is prepared for final examination.
Apply to the Dean of the Graduate Faculties for admission to final examination for the Doctorate (defense of dissertation).
Deliver seventy-five copies of the printed dissertation to the University Libraries.
Arrange with the secretary of the Department for distribution of copies of the printed dissertation, not to exceed forty-five in number, to members of the Faculty of Political Science.

Source: Columbia University Bulletin of Information, Forty-sixth Series, No. 37 (August 10, 1946). History, Economics, Public Law, Sociology, and Anthropology. Courses Offered by the Faculty of Political Science for the Winter and Spring Sessions, 1946-1947, pp. 2, 13-16, 19-23.

Image Source: Columbia University graduation. New York, NY The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Photography Collection, The New York Public Library. “”. The New York Public Library Digital Collections. 1940 – 1979.

Columbia Regulations

Columbia. Memo on Doctoral Exams in the Faculty of Political Science, 1946

Post author By Irwin Collier
Post date 2018-04-05

The subject of oral examinations has come up in earlier posts: Columbia 1932-3, Columbia 1967, and Harvard 1958. This post takes us to the immediate post-WWII years.

For visitors to this page who are unfamiliar with the divisional organization of Columbia University earlier: the department of economics was located within the faculty of political science that also included departments of history, public law and government, sociology, and anthropology — a disciplinary spectrum similar to that of Harvard’s Division of History, Government, and Economics.

____________________

FACULTY OF POLITICAL SCIENCE

23 April 1946

MEMORANDUM on the Conduct of Doctoral Examinations

TO: Members of the Faculty of Political Science

Following are a few suggestions, occasioned by comments of members of the Faculty relative to our oral examinations for the doctorate, both on subjects and in defense of the dissertation. They are distributed to call attention of members of examining committees to procedures previously agreed upon but sometimes forgotten or overlooked.

That our system of departmental representatives at examinations is breaking down furnishes the subject of most frequent comment. This was understandable during the war when the staff was depleted and overworked; and provision of representatives for all examinations by the smaller departments is always a difficult problem. But the Committee feel that the principle is a good one and should be maintained. It makes for the equalization of standards in examination throughout the Faculty and serves as a constant reminder that examining committees, more particularly for the defense of the dissertation, are committees of the Faculty. Since the Faculty has for long been too large for all members to attend all examinations, the system of departmental representatives affords the means of maintaining faculty solidarity in the examination.
There is further question relative to examining committees keeping within the allotted time. This is particularly important during the crowded period in late April and May, when examinations are frequently scheduled with no interval between. Lack of promptness in ending the examination causes confusion and irritation and detracts materially from the dignity of the examination. Obviously if the examination is concluded promptly on the hour, the committee must have some time to decide on the performance of the candidate, with the result that the next committee is kept waiting during the deliberation. This matter has been discussed with Miss Neare of the Dean’s office. She will do her utmost to allow at least one-half hour between each examination. If the schedule becomes so crowded that this is impossible, some other locale for the examination will be sought.
It should be noted that this arrangement may involve: (a) the commencing of some examinations on the half hour, and (b) the necessity of bearing in mind that some examinations will probably be scheduled in a room other than 304 Fayerweather.
Your committee would like to call attention of all chairmen of examining committees to the desirability of rigid adherence to the faculty agreement that 15 minutes at the end of every examination should be reserved for questions by departmental representatives, or more general questions by any member of the committee. At the same time we should like to point out that this rule has validity only if departmental representatives accept the responsibility of posing questions.
The examining committee for defense of the dissertation is a committee of the Faculty charged to act for that body in the matter of certifying candidates for the doctorate. Occasionally when a question relative to the dissertation, or some unusual circumstance in the examination, has arisen reference has been made to the Committee on Instruction. It is the feeling of this committee that the decision of the examining committee should be final and that in all cases involving an unusual decision full and accurate record should be made of such decision, either on the reporting blank or on a sheet attached thereto.

Respectfully submitted,

James C. Bonbright
Austin P. Evans, Chairman
Philip C. Jessup
Robert K. Merton

APE:v

Source: Columbia University Archives. Minutes of the Faculty of Political Science, 1940-1949.

Image Source: Fayerweather Hall from Columbia University Department of History website

Curriculum Germany Harvard

Harvard. The German language in higher education, 1894

Post author By Irwin Collier
Post date 2018-04-04

Several earlier posts have considered foreign language requirements from the perspective of mid-20th century (e.g. Harvard, Columbia, Chicago). This post takes us back to the early years of graduate instruction at the end of the 19th century. The report by the “German Committee” submitted to the Board of Overseers of Harvard College in 1894 was forty-six pages long. I have included only the statements by three professors of economics (Taussig, Dunbar, and Ashley) between the report’s lede and its conclusions, but I can recommend a quick glance at the statements submitted by members of other departments at Harvard.

__________________

REPORT OF THE COMMITTEE ON GERMAN.
[October 4, 1894]

To The Board of Overseers : —

In order either to confirm or to correct the opinions held by the undersigned as to the position which instruction in the German language should occupy in the general scheme of the University, the following questions were addressed to teachers of every grade active in the various branches of the institution:

Is any of your work, or of the work of any student in the University under you, determined, or limited, or in any way affected by knowledge or ignorance of the German language on the part of such student, and, if so, how?
Is knowledge of German required of any student in the University for admission to, or for continuance in, any study under you, and, if so, how much knowledge, and how much is it used, and for what study or studies?
What proportion of the published work of yourself, or of any student, or students, in your department, is published in the German language, and, if any, in what books or papers?
What remedy or remedies can you suggest for any evil suffered by the University or any student or students thereof through ignorance of, or imperfect knowledge of German.

We beg leave to submit the answers received in the original; but, for the sake of convenience, we present also in this report, grouped according to the different branches of study, abstracts of opinions expressed, especially in response to question 1, to which we respectfully and urgently invite the attention of the Board of Overseers. It will be found that while a few of the professors, instructors or lecturers consider the knowledge of German as of little consequence to their students, an overwhelming majority of them, representing all conceivable varieties of study, agree, with singular concert of judgment, as to the desirability of that knowledge, differing only in the degree of their appreciation of it, some declaring the ability to read German merely helpful, while others pronounce it to be absolutely indispensable.

We shall now let them speak for themselves :

[…]

Professor F. W. Taussig, Professor of Political Economy.

In the work of all my advanced courses, and especially in the course on economic theory, I am hampered by the fact that the students, otherwise well equipped, cannot handle German.

Professor C. F. Dunbar, Professor of Political Economy and Dean of the Faculty of Arts and Sciences.

In public finance and banking the work is so far affected that I feel it practically useless to require the reading of anything which cannot be paralleled in French or English; and although I make references to German sources, it is with the feeling that they will be used by only a part of the class. This often makes it necessary, in order to cover a German topic with certainty (as e. g. in Taxation), to give it a disproportionate amount of time in my lectures. I must add that the state of things appears to me to be improving.

Professor W. J. Ashley, Professor of Economic History.

In all the higher University work with which I am concerned, in the study of economic and social history, it would be a great advantage to the men to have a fair acquaintance with German.
In “The History of Economic Theory down to Adam Smith,” to read German is declared in the department pamphlet to be “desirable.” In a class last year of some eight seniors and graduate students, two, if I remember rightly, showed that they could use German with ease, and one of these did an excellent piece of work for me and the class which would have been impossible otherwise.

[…]

While these reports are calculated to create a favorable impression as far as they go, it is to be gathered from many of the opinions expressed that, although a certain advance is to be noticed, a greater and more general proficiency in German among the students is very desirable. As to the question how the deficiencies that may exist might be remedied, the answers received in response to our interogatories differ. They may be divided into the following classes: —

Those recommending that students be admonished by way of suggestion and advice, in the official reports and pamphlets as well as in personal conversation, to devote more attention to the study of the German language.
Those recommending that the requirements as to German in the examinations for admission to the University be increased.
Those recommending higher requirements as to German for admission to scientific schools, and for honors and degrees; and
Those recommending special courses for scientific German to be connected with the different scientific departments.

These different recommendations do not necessarily exclude one another, as, indeed, they appear grouped together in one or two of the answers we have received to our interrogatories. The admonition by suggestion or advice, as well as the establishment of higher requirements in German for certain honors or degrees, might prove desirable incentives under any circumstances. But a careful consideration of the whole subject has led us to the conclusion that the recommendation of an increase of the initial requirements deserves the most serious attention. The more Harvard rises to the station and dignity of a University in the higher,—that is, the true sense—the less the institution should have to do with that kind of work which naturally belongs to the office of the preparatory school. The student entering Harvard should be required sufficiently to possess what may be called the mechanical equipment necessary for the pursuit of his studies. This, applied to the German language, would mean that the Harvard student should be beyond the struggle with its structural difficulties, that he should be able to read it understandingly, without the painful drudgery of conscious translation word for word, and that in using it his labor should be reduced to a mere occasional enlargement of the vocabulary.

We admit that it may be very difficult, if not impossible, to reach this objective point all at once. But it may ultimately reached by gradual approaches. We venture respectfully to suggest as the first step a public announcement that the requirements as to German in the examination for admission, will henceforth be increased by degrees, and that elementary instruction in German at the University will be discontinued.

We further suggest that the time for the examination in German be extended to two hours and that it include, in addition to the translation of German prose, not of the simplest kind, but of ordinary difficulty, the translation of a few sentences of simple English prose into German, or a simple composition in German, and some ordinary tests in German grammar. The examination should certainly be severe enough not to permit the attainment of a satisfactory result by cramming.

We believe also that the recommendation made by several of the officers of instruction concerning the establishment of special courses in “scientific German” in connection with the respective scientific schools, deserves to be seriously considered. If, as sources of information, German works are to be read, it is most important that they should be read understandingly. The meaning of writers who are studied as authorities should not be merely guessed at. This is one of the cases in which “a little knowledge” is more dangerous than none at all. The particular study of scientific terminologies appears especially necessary with regard to German writers because, as is well known, not a few of them—whether writing on science, or philosophy, or even history, — take great liberties with their language in constructing composite words and in various other ways, thus creating, to some extent, technical terms, or forms of expression which, when applied to certain things, are to convey a special meaning — more or less peculiar to themselves. The courses suggested would, therefore, serve a useful purpose.

We would also respectfully recommend that in courses in which recitations form part of the system of instruction, the classes be divided into sections conveniently small, to contain not above 30 students, and that the number of instructors be correspondingly increased.

All of which is respectfully submitted.

C. SCHURZ,
J. ELLIOT CABOT,
CHARLES E. GRINNELL,

Committee on German.

4th October, 1894.

Source: Reports of the Visiting Committees of the Board of Overseers of Harvard College from February 6, 1890, to January 8, 1902 Inclusive. Cambridge, Massachusetts (1902), pp. 221, 241-242, 265-267.

Image Source: Dunbar, Ashley and Taussig from The Harvard Portfolio (Class of 1895), Vol. VI.

Tags Ashley, Dunbar, Taussig

Curriculum Harvard

Harvard. Report of Economics Visiting Committee, 1915

Post author By Irwin Collier
Post date 2018-04-03

A few posts ago Economics in the Rear-view Mirror provided a transcription of a report written by a member of the Department of Economics Visiting Committee, John W. Morss, that shared his observations of teaching in the recitation sections of the principles of economics course (Economics A). Today we have the brief report submitted by the entire committee in 1915. Changes in the organization of the accounting and statistics courses as well as the surprising popularity of Thomas Nixon Carver’s course on agricultural economics are mentioned. The planned introduction of courses in European and U.S. economic history and expansion of the tutoring program are noted as well.

___________________

REPORT OF THE COMMITTEE TO VISIT THE DEPARTMENT OF ECONOMICS

To the Board of Overseers of Harvard College: —

The Committee to Visit the Department of Economics respectfully reports:

The most important change during the year has been in the conduct of Courses la and 1b, which are now introductory courses in accounting and statistics, designed to give these subjects vital and fundamental relation to the students’ later work in economics. Both courses are given by effective teachers with a large amount of what may be called laboratory practice or problem work, which seems to be extremely valuable. Next year the Department is to have at its disposal one of the drafting rooms at Pierce Hall, which will furnish an admirable laboratory.

The interest shown in Professor Carver’s course in the Economics of Agriculture is surprising. There are forty-four students in this course and as many more were refused admission either because of their inadequate preparation or of their lack of practical interest in the subject. Most of the students electing this course have either come from farms or are contemplating farming or some other form of rural work. The number in the class has been strictly limited because of the difficulty in providing satisfactory reading matter in sufficient quantity. Professor Carver now has in preparation a book of selections bearing on the general question of rural economics and agricultural policy which will be available for use next year and render it unnecessary to restrict the members in the course arbitrarily. [Selected Readings in Rural Economics compiled by Thomas Nixon Carver. Boston: Ginn and Company, 1916]

Professor Carver is in Cambridge this year but continues to direct the investigation which the Department of Agriculture is making into the subject of the marketing of farm products. As no member of the teaching force is away on leave, the work this year has been unusually free from interruption. The number of graduate students continues to increase. This year it was forty-eight, and the prospect is of further growth. The attendance in other courses has been normal, but the re-adjustments made in Courses la and 1b have brought about a considerable reduction in the number taking these courses, the result of which is a slight decrease in the number taking all courses in the Department. This is no more variation than is to be expected from year to year.

Plans are under consideration for introducing in Economics 2a, European Industry and Commerce in the Nineteenth Century, and 2b, Economic and Financial History of the United States, improved supervision of the work of the students in preparing and writing theses, in line with the effort now making to improve the quality of English written by students in Harvard College.

The Department has been obliged, during the year, to furnish the assistance of tutors to those of the present Sophomore class who were concentrating in economics, and thus to add three tutors to the staff. Three others will be appointed next year, and it appears possible that by combining these positions with those of instructors and assistants we shall be able to offer somewhat better compensation for the work and thereby secure a better type of instructor and assistant.

The Department of Education has continued this year its survey of the Department of Economics and has inspected the work of practically all the courses. The Department of Education expects to bring this work to completion next fall, and the report may be expected by November 1st. [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.]

Respectfully submitted,
FRANCIS J. SWAYZE,
CHARLES W. ELIOT,
WILLIAM ENDICOTT,
EDGAR C. FELTON,
JOHN F. MOORS,
JOHN W. MORSS,
I. TUCKER BURR,
ROBERT TREAT PAINE,
CAMILLUS G. KIDDER,
WALLACE B. DONHAM.

May 10, 1915.

Source: Reports of the Visiting Committees of the Board of Overseers of Harvard College for the Academic Year 1914-15, pp. 261-262.

Image Source: Pierce Hall (1901) from Harvard Class Album 1920.

Tags Carver

Funny Business M.I.T.

M.I.T. Casablank, graduate economics skit, 1978

Post author By Irwin Collier
Post date 2018-04-03

It was from the Ilsa and Sam scene and the Rick and Sam scene from Casablanca that a mad M.I.T. economics graduate student was distilling his frenzy in 1978. That fourth year graduate student, Jeffrey Frankel, was the producer/head-writer for his cohort’s contribution to the annual skit party of the department of economics. At the time I was on the other side of the Berlin Wall so that I missed both the creation and performance of “Casablank”. I contacted Jeff recently and asked if he still had a script. He did, and now Economics in the Rear-view Mirror is proud to provide the script for that legendary skit as well as the lyrics to “And God Knows Why”.

Production trivia. When asked about the casting decision to have Miguel Beleza in drag playing Ilsa, Jeff Frankel answered [Warning–irony and hyperbole!]: “I was violently opposed…But the others thought I was being a spoilsport; this was the price for their (reluctant) agreement to putting on my precious masterpiece.”

Note: To hear a well-crooned rendition of the entire Herman Hupfeld song “As Time Goes By” (Lyrics), that includes the introduction not sung in the movie but included in the MIT skit, listen to Rudy Vallée with Orchestra on the Victor label (78 rpm).

The same cohort of graduate students at M.I.T. was responsible for the skit Analysis in Wonderland that was written and performed in 1975 and transcribed for an earlier post.

____________________

4^th-year class, March 1978

CASABLANK
by Jeff Frankel*

*Script author and lead-author for lyrics to And God Knows Why.

Cast

Rick Gain [J.F. = Jeff Frankel]
Ugotme [Andy = Andy Abel]
LeBruin [Bill = Bill Krasker]
Major Strasbusch [Dick = Dick Startz]
Samuelson [Jay = Jay Helms]
Ilsa [Luis = Luis Miguel Beleza]
Narrator [Ray = Ray Hill]
Man [Bob = Bob Cumby]
Professor [Pedro = Pedro Aspe]
Student [Pat = Patricia D. Mooney]
S.S. [Ray = Ray Hill]
Vector Lieslow [Henry = Henry Brady]

NARRATOR: (solemnly) With the coming of the recent recession, the eyes of the world turned hopefully or desperately, to the field of Economics. A Ph.D. became the great embarkation point. But nobody could get a Ph.D. directly. And so a tortuous, roundabout refugee trail sprang up. From grade school to high school, from high school to college, and then, by GRE’s or grades or inside connections, to Graduate School. Here the fortunate ones, through money or influence or luck, might obtain an exit thesis, and thus get their Ph.D. and get a job in the world of Economics. But the others are stuck in Graduate School, where all they can do is wait…and wait…..and wait.

(Scene: Robnett’s Café American. People drinking: Man at one table, Student and Professor at another, Ugotme playing cards with others at a third table, and LeBruin at a fourth. Samuelson at piano.)

MAN: (despairingly) Waiting, waiting, waiting! I’ll never get out of here. I’ll die in Graduate School!

PROF.: (examining paper of nervous student) B+.

STUDENT: But can’t you…make it just a little bit more, please?

PROF: I’m sorry madame; exchange rate models are a drug on the market; everybody sells exchange rate models. There are exchange rate models everywhere. B+.

(Rick enters from left. Pause. SS comes to door on right.)

RICK: (blocking entrance) I’m sorry, this is a private room.

SS: Of all the nerve! I know there’s bridge-playing going on in there; you can’t keep me out! Do you know who I am?

RICK: I do; now get out. (SS leaves.)

UGOTME: (standing up) Who was that, Rick?

RICK: S.S.

UGOTME: S.S.?

RICK: Yeah. Sloan School.

UGOTME: Rick, why do you despise me? Oh, you object to the kind of business I do, huh? But think of all those poor students who must rot in this place if I didn’t help them. Through ways of my own, I provide them with thesis topics.

RICK: For a price Ugotme. They have to buy you dinner.

UGOTME: Look, Rick. (Takes paper from pocket.) Something that even you have never seen. A proof that unemployment can exist under rational expectations. I’d like you to keep it for me. (Hands paper to Rick. Retakes his seat.)

(Rick walks over and sits down with LeBruin.)

RICK: Hello, LeBruin.

LEBRUIN: Have some wine. Oh I forgot, you don’t drink with customers. I’ve been wondering, Rick. What in heaven’s name brought you to Graduate School?

RICK: The social life. I came to Graduate School for the social life.

LEBRUIN: (in astonishment) What social life? We are in a wasteland!

RICK: I was misinformed.

LEBRUIN: We are expecting a famous visitor here: Vector Lieslow, the liberal economist. He would give anything to get a proof that unemployment can exist under rational expectations.

RICK: What makes you think I’d help Lieslow?

LEBRUIN: Because, my dear Ricky, I suspect that under that monetarist shell, you’re at heart a Keynesian. (Rick laughs) Oh, laugh if you will, but I happen to be familiar with your record. In 1972, you worked for George McGovern. In 1968 you organized protest demonstrations at the Chicago School.

RICK: And got paid for it on both occasions.

(Strasbusch enters right. Nods to LeBruin, clicking his heels. Sits down with LeBruin and Rick.)

LEBRUIN: We are very honored tonight, Rick. Major Strasbusch is one of the reasons the Chicago School enjoys the reputation it has today.

STRASBUSCH: Mr. Gain, you came here from California.

RICK: There seems to be no secret about that.

STRASBUSCH: Are you one of those people who can’t imagine Milton Friedman in their beloved California?

LEBRUIN: Rick is completely neutral about everything. And that includes the neutrality of money.

STRASBUSCH: You were not always so carefully neutral. We have a complete dossier on you. We know what you did in College, and also we know why you left College.

RICK: (getting up) If you gentlemen will excuse me, (stunned) that girl Lieslow is with! Ilsa!

(Lieslow and Ilsa walk in, right. Look around, sit at a table.)

RICK: (Dreamily) I knew her in College, in the more innocent days before the recession. We were in French class and the SDS together. We believed in poetry and ideals like economic equality for all…and…and…the downward-sloping Phillips Curve. (Coming back to reality.) But then conservatism set in; the SDS was thrown off campus, and French class was replaced by Accounting. (sits down)

ILSA: (Leans over and talks to Samuelson.) Play it, Samuelson. Play “And God Knows Why.”

SAMUELSON (sings first half of song.)

AND GOD KNOWS WHY
[played on piano by Samuelson]

This day and age we’re living in
Gives cause for consternation
With the speed of price inflation
And disintermediation.

I get a trifle weary
With economic theory;
I can find no explanation
In graduate education.

No matter what the progress
Or what may yet be proved
The stylized facts of life are such
They cannot be removed.

You must remember this
We’re just economists.
We know the prime rate’s high
So also is the money supply
But God knows why.

And when the market’s bearish
The small investors perish
On that you can rely.
The fundamentals don’t apply
And God knows why.

Exercises in futility
Like multiple regressions,
Or maximizing our utility
With Jacobians and Hessians
Don’t give us the ability
To forecast our recessions;
That no one can deny.

It’s still the same old trouble
A speculators’ bubble:
A case of sparkling wine.
The Dow breaks seven-forty nine
And God knows why.

(Then applause from everyone but Strasbusch. Strasbusch, then LeBruin, stand up.)

STRASBUSCH: (to LeBruin, sternly) I have decided that we need this space for an S.S. classroom. I advise that the Robnett Café be shut up at once!

LEBRUIN: But I have no excuse to close it.

STRASBUSCH: Find one!

LEBRUIN: (blows whistle) Everybody is to leave immediately. This café is closed until further notice!

RICK: On what grounds?

LEBRUIN: I’m shocked! Shocked to find that bridge-playing is going on here! (Everyone leaves except Rick and Samuelson, who start to straighten chairs. LeBruin comes back to take bottle and glass. Ilsa enters suddenly.)

ILSA: Rick, I know you have the proof that unemployment can exist under rational expectations. You must give it to me, so Vector Lieslow and I can get out of here.

RICK: Why should I help you?

ILSA: If you don’t help us, Vector Lieslow will die in Graduate School.

RICK: What of it? I’m going to die in Graduate School. It’s a good place for it.

ILSA: Rick, you were a Keynesian too once.

RICK: I believe in self-interest now, sweetheart.

ILSA: I don’t like the way you are acting.

RICK: You’re no Ingrid Bergman yourself.

ILSA: I think that under that protective covering of neutrality, you still believe in an activist fiscal policy.

RICK: No, under this protective covering of neutrality…(Taking off trench coat and revealing Superman insignia) is Superneutrality!

(Ilsa turns and leaves in disgust.)

RICK: Play it again, Samuelson.

SAMUELSON (sings second half of song. Then leaves with Rick.)

You must remember this
We’re just economists.
Steel prices are still high,
Despite excess supply.
And God knows why.

Though the deutschemark is up
So are the sales of Krupp;
The Germans still sell and we still buy.
The fundamentals don’t apply,
And God knows why.

Upturns and downturns,
Wage hikes and price hikes,
Miller follows Burns,
Miller’s union strikes.
Every student learns,
Whether or not he likes
The fount of wisdom runs dry.

It’s still the same old textbooks;
Each one looks like the next looks.
Sales of Dornbusch and Fischer
Will make the authors richer,
But God knows why.

(Scene: LeBruin seated at desk. Rick, Ilsa and Lieslow enter together.)

RICK: (handing paper to LeBruin) LeBruin, this exit thesis is being submitted in the names of…Mr. and Mrs. Vector Lieslow.

ILSA: Oh, Rick!

LEBRUIN: Just as I suspected. At heart, you are a Keynesian.

(Major Strasbusch stalks in. Grabs paper and looks at it.)

STRASBUSCH: This thesis is not complete. There is no econometric evidence.

RICK: I have my programmable H.P. right here (tapping pocket of trenchcoat).

STRASBUSCH: You’re bluffing.

(Rick reveals calculator in holster. Strasbusch reveals his, draws. Rick draws. Both hit buttons furiously, with calculators pointed at each other.)

RICK: (while calculating) Regressing unemployment on the government deficit…holding constant for labor force composition…the t-statistic is…2.0!!

STRASBUSCH: (in horror) Oh, no! Fatal at the 95% level!! (Falls over.)

RICK: (chucking Ilsa under chin) Here’s looking at you kid.

(Ilsa and Vector exit)

(Lights out.)

Source: Transcribed from copy of original script and lyrics provided by Jeffrey Frankel .

Tags Abel, Aspe, Beleza, Brady, Cumby, FrankelJeff, Helms, Hill, Krasker, Samuelson, Startz

Columbia Economists

Columbia. Appointment of Marcus Fleming as Visiting Professor, Spring 1951

Post author By Irwin Collier
Post date 2018-04-02

I have transcribed the following paper-trail regarding the appointment of Marcus Fleming for a one term visiting Professor appointment because of the biographical information of this important economist included in the letter requesting formal approval from the provost of Columbia University as well as its providing an example of the minimal paperwork apparently required for a visiting position in 1950 compared to what is required in most universities at the present time.

________________

COMMITTEE ON INSTRUCTION
FACULTY OF POLITICAL SCIENCE

MINUTES OF MEETING: October 3, 1950

Present: Professors A.R. Burns, Goodrich, Malone, Peffer, Strong
Absent: Professor Abel
Present by Invitation: Professor Lazarsfeld

[…]

Approval of new appointments

Economics

Marcus Fleming, recent Deputy Director of the British Cabinet Secretariat, as Visiting Professor of Economics (European Institute), for the Spring Session at a salary of $4,500 plus a travelling allowance. (The hope of the Department is to extend this appointment during the period for which funds for the European Institute are at present provided.
Evsey Domar, Associate Professor of Economics at The Johns Hopkins University, as Visiting Associate Professor of Economics 146 while Professor Bergson in on part-time leave.

[…]

Source: Columbia University Archives. Minutes of the Faculty of Political Science, 1950-1962.

________________

Letter from Department Head Professor James W. Angell
to Vice-President and Provost Dr. Grayson L. Kirk

October 10, 1950

Dr. Grayson L. Kirk,
Vice President and Provost
of Columbia University,
Low Memorial Library.

Dear Dr. Kirk:

I enclose herewith a Nomination for Appointment, requesting the appointment of John Marcus Fleming to the position of Visiting Professor of Economics (European Institute.) I believe this appointment has already been acted upon favorably by the Committee of Instruction of the Faculty of Political Science.

Mr. Fleming, who is married and has several children, is a little past forty. He received the degree of Master of Arts, with Honours in History (1932), and in Economics (1934), at Edinburgh University. He studied Economics further at the London School of Economics, 1934-35. He then became a member of the Secretariat of the League of Nations in Geneva, 1935-38, and in the latter part of that period was a member of the Economic Intelligence Service. He spent 1938-39 in the United States as a Rockefeller Fellowship. Since 1939 he has held a series of posts I the service of the British government, combined with extensive teaching at the University College in London. Beginning with the latter part of the war, and down to this past summer, he has been Deputy Director of the Economic Section in the British Cabinet Secretariat. He has served as a British representative to the Organization for European Cooperation in Paris, and to the United Nations at Lake Success. His written work includes a large study of American business cycles, prepared for the League of Nations just before the war, as a working document, but not formally published, and some half dozen important articles in leading professional journals, on problems of economic theory and international trade.

Sincerely yours,
[signed]
James W. Angell
Executive Officer
Department of Economics

[Penciled note in margin: OK/GK]

Source: Columbia University Archives. Central Files 1890-, Box 409, Folder “Angell, James W. 7/1950-6/1953”

________________

Carbon copy of response of Dean John A. Krout to Professor James W. Angell

16 October 1950

Professor James W. Angell
Executive Officer
Department of Economics
Fayerweather

Dear Professor Angell:

I have your letter to Provost Kirk about the nomination for appointment of John Marcus Fleming to the position of Visiting Professor of Economics (European Institute) during the period from February 5, 1951 to June 30, 1951. Since this nomination has the approval of the Committee on Instruction of the Faculty of Political Science, I am sending through the appropriate authorization.

Cordially yours,

John A. Krout
Dean

mp
cc: Miss Mullen

Source: Columbia University Archives. Central Files 1890-, Box 409, Folder “Angell, James W. 7/1950-6/1953”

Image Source: Marcus Fleming (1911-1976) page at Policonomics.com

Tags Angell, Domar, Fleming

A General Problem in Competitive Price

Part i

Part ii

Part iii

Part iv (Optional)

POLITICAL ECONOMY GRADUATE COURSES

…The Economic Seminary

MEMBERS OF THE ECONOMIC SEMINARY 1923-1924

Graduate Students

Faculty

Seminar Presentations 1923-24

PATTEN, Simon Nelson (1852—[1922]).

To the Electors to the Drummond Professorship. [From William J. Ashley, November 20, 1890]

TO THE HONORABLE GEORGE WILLIAM ROSS, LL.D. MINISTER OF EDUCATION FOR ONTARIO.

[Application of ] JOHN MILLAR McEVOY. Toronto, July 30th, A.D. 1892.

FACULTY OF LAW

§1. POLITICAL ECONOMY.

Professor: W. J. ASHLEY, M.A.

FIRST YEAR. (SECOND YEAR IN FACULTY OF ARTS.)

SECOND YEAR. (THIRD YEAR IN FACULTY OF ARTS.)

THIRD YEAR. (FOURTH YEAR IN FACULTY OF ARTS.)

University of Toronto. Annual Examinations: 1891. Candidates for B.A.

POLITICAL ECONOMY.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

University of Toronto. Annual Examinations: 1891. Candidates for B.A.

POLITICAL SCIENCE. HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

University of Toronto. Annual Examinations: 1891. Second Year.

POLITICAL SCIENCE. HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

University of Toronto. Annual Examinations: 1891. Third Year.

POLITICAL SCIENCE. ECONOMIC THEORY. HONORS.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

University of Toronto. Supplemental Examinations: 1891. Fourth Year.

ARTS. POLITICAL ECONOMY.

Examiners: J.M. McEvoy, B.A. and A.T. Thompson, B.A.

REQUIREMENTS FOR ADMISSION AND FOR DEGREES

ADMISSION AND REGISTRATION [THE FACULTY OF POLITICAL SCIENCE]

REQUIREMENTS

PROCEDURE

REQUIREMENTS FOR ADVANCED DEGREES

REQUIREMENTS OF THE FACULTY OF POLITICAL SCIENCE

MASTER OF ARTS

DOCTOR OF PHILOSOPHY

DEPARTMENTAL REQUIREMENTS DEPARTMENT OF ECONOMICS

Master of Arts

Doctor of Philosophy

FACULTY OF POLITICAL SCIENCE

MEMORANDUM on the Conduct of Doctoral Examinations

REPORT OF THE COMMITTEE ON GERMAN. [October 4, 1894]

Professor F. W. Taussig, Professor of Political Economy.

Professor C. F. Dunbar, Professor of Political Economy and Dean of the Faculty of Arts and Sciences.

Professor W. J. Ashley, Professor of Economic History.

REPORT OF THE COMMITTEE TO VISIT THE DEPARTMENT OF ECONOMICS

4th-year class, March 1978

CASABLANK by Jeff Frankel*

Cast

AND GOD KNOWS WHY [played on piano by Samuelson]

COMMITTEE ON INSTRUCTION FACULTY OF POLITICAL SCIENCE

MINUTES OF MEETING: October 3, 1950

Letter from Department Head Professor James W. Angell to Vice-President and Provost Dr. Grayson L. Kirk

Carbon copy of response of Dean John A. Krout to Professor James W. Angell

POLITICAL ECONOMY
GRADUATE COURSES

MEMBERS OF THE ECONOMIC SEMINARY
1923-1924

Seminar Presentations
1923-24

To the Electors to the Drummond Professorship.
[From William J. Ashley, November 20, 1890]

TO THE HONORABLE GEORGE WILLIAM ROSS, LL.D.
MINISTER OF EDUCATION FOR ONTARIO.

[Application of ] JOHN MILLAR McEVOY.
Toronto, July 30^th, A.D. 1892.

§1.
POLITICAL ECONOMY.

University of Toronto.
Annual Examinations: 1891.
Candidates for B.A.

University of Toronto.
Annual Examinations: 1891.
Candidates for B.A.

POLITICAL SCIENCE.
HONORS.

University of Toronto.
Annual Examinations: 1891.
Second Year.

POLITICAL SCIENCE.
HONORS.

University of Toronto.
Annual Examinations: 1891.
Third Year.

POLITICAL SCIENCE.
ECONOMIC THEORY.
HONORS.

University of Toronto.
Supplemental Examinations: 1891.
Fourth Year.

ARTS.
POLITICAL ECONOMY.

ADMISSION AND REGISTRATION
[THE FACULTY OF POLITICAL SCIENCE]

DEPARTMENTAL REQUIREMENTS
DEPARTMENT OF ECONOMICS

REPORT OF THE COMMITTEE ON GERMAN.
[October 4, 1894]

4^th-year class, March 1978

CASABLANK
by Jeff Frankel*

AND GOD KNOWS WHY
[played on piano by Samuelson]

COMMITTEE ON INSTRUCTION
FACULTY OF POLITICAL SCIENCE

Letter from Department Head Professor James W. Angell
to Vice-President and Provost Dr. Grayson L. Kirk