Author: Irwin Collier

Harvard. Undergraduate Honors Economic Theory Readings. Duesenberry and Kaysen, 1951-52

Post author By Irwin Collier
Post date 2017-10-09

For some reason the annual Report of the President of Harvard College for 1951-52 does not include the staffing and enrollment figures for courses offered during the academic year. I have been using these annual reports to verify the actual staffing for courses because the course announcements are sometimes inaccurate, being by their nature listings published before the academic year gets going, but at least certainly before the second semester begins. Many times, though not always, there is an instructor’s name at the head of the course reading assignments that have been filed with the library for placing items on reading reserve. Thus for the undergraduate honors course “Economic Theory and Policy” (Economics 101), I am only certain that James Duesenberry taught the first semester (he is named in the Crimson article excerpt below, also in the course announcement, and finally on the first semester reading list itself). Carl Kaysen is mentioned in the course announcement for the second semester of the course, but there is no name on the second semester reading list nor can I verify without an ex post staffing report for the course. Let’s just say there is a strong presumption that Carl Kaysen indeed taught the second semester of Economics 101.

Note the second semester reading list ends with “to be continued” but, alas, there is no further list to be found in the file.

___________________

Harvard Crimson Report

Three Steps to Economics

The Department’s courses have been organized on three levels, although Economics 1 is the only prerequisite for any course. Economics 1 is the first level course, a dull but thorough introduction to the field. A department committee is now at work considering revising the curriculum, and it is hoped that this basic course will be brighter next year.

There are four courses on the second level, each covering a division of the department. Theory and Policy (101) discusses current theories of production, exchange, and distribution. Professor Duesenberry will take over complete charge of this course next year. It is generally considered dull but important. Almost all of the students are honors candidates, and the course is graded accordingly….

Source: The Harvard Crimson, April 28, 1950.

___________________

Course Announcement

For Undergraduates and Graduates

The courses for Undergraduates and Graduates, unless otherwise stated, are open only to students who have passed in Economics 1.

Economics 101. Economic Theory and Policy

Full course. Mon., Wed., and (at the pleasure of the instructor) Fri., at 12.
Fall term: Assistant Professor Duesenberry; Spring term: Assistant Professor Kaysen.

Current theories of production, exchange, and the distribution of the national income, with some indications as to their relevance to contemporary economic problems. The course will be carried on mainly by discussion. It is intended primarily for candidates for the degree with honors and may be taken only with the consent of the instructor.

Source. Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1951-52. Official Register of Harvard University, Vol. XLVIII (September 10, 1951) No. 21, p. 76.

___________________

James S. Duesenberry

Economics 101a—Economic Theory
Fall term, 1951-52

I. The Problems of Economics

Samuelson: Economics. Chapter 1
Phelps-Brown: Framework of the Pricing System. Chapter 1
Council of Economic Advisers: Mid-year Report. July 1951

II. The Classical System

Ricardo: Principles of Political Economy and Taxation. Chapters 1, 2, 4, 5, 6, 21
Mill: Principles of Political Economy. Book I, Chapters 4, 5, 6, 10, 11, 12, 13
Book II, Chapters 11, 12, 13, 15, 16
Baumol: Economic Dynamics. Chapter 2

III. General Equilibrium Theory

Phelps-Brown: Framework of the Pricing System. Chapters 2-5
Marshall: Principles of Economics 8^th edition. Books V and VI
Stigler: Theories of Production and Distribution. Chapters 4, 9

___________________

Economics 101, Spring Term 1951-52
Reading List

I. The Keynesian System

Keynes, General Theory, Chs. 1-3, 8-11, 13, 15, 18
J. R. Hicks, “Mr. Keynes and the Classics”, No. 24 in Blakiston, Readings in Business Cycle Theory.
L. R. Klein, The Keynesian Revolution, Ch. 1-3.

II. Dynamics

Keynesian Dynamics
1. Keynes, General Theory, Ch. 22
2. E. D. Domar, “Expansion and Employment,” American Economic Review, March 1947
3. W. J. Fellner, Monetary Policy and Full Employment, Ch. 1, 2, 3
Schumpeterian Dynamics
1. Schumpeter, Business Cycles, Volume I, Ch. 3, 4, 6
Marxian Dynamics
1. Schumpeter, Capitalism, Socialism and Democracy, Ch. 1-4
2. J. Robinson, Essay on Marxian Economics
General Review
1. W. J. Baumol, Economic Dynamics, Chs. 3, 4

[to be continued]

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Fox 5, Folder “Economics, 1951-1952 (1 of 2)”.

Image Source: Duesenberry in Harvard Class Album 1951; Kaysen as 1955 John Simon Guggenheim Memorial Foundation Fellow

Tags Duesenberry, Kaysen

Chicago Columbia Economists

Chicago Ph.D. alumnus and Columbia Professor of Banking, Henry Parker Willis

Post author By Irwin Collier
Post date 2017-10-07

Columbia University’s professor of banking (1917-37), Henry Parker Willis was an early economics Ph.D. at the University of Chicago, a student of J. Laurence Laughlin. He played an important role in the founding and early years of the Federal Reserve System and later as a expert consultant on banking affairs for the U.S. Congress. Besides all this he served over a dozen years editing the N. Y. Journal of Commerce.
This posting begins with a biographical note I found at FRASER, goes on with the Journal of Commerce’s account of his work there, and concludes with the Columbia School of Political Science Memorial minute entered into its recorded minutes in 1938.

_____________________________

Henry Parker Willis
Biographical Note

1874, Aug. 14	Born, Weymouth, Massachusetts
1894 1897	A.B., University of Chicago Ph.D., University of Chicago
1897-98	Assistant, Monetary Commission
1898-1905	Washington and Lee University, successively adjunct professor, full professor, Wilson professor of economics and political science
1903, Dec. 24	Married Rosa Johnston Brooke (4 children—1 with FRB of Boston, 1 with FRB of New York)
1901-12	Leader writer, New York Evening Post
1902-03	Washington correspondent, N. Y. Journal of Commerce
1905-13	Washington correspondent, Engineering and Mining Journal
1905-06 1907-12	Professor of finance, George Washington Univ.; and Dean, College of Political Sciences, 1910-12
1909-10	Editor, U. S. Immigration Commission
1911-13	Expert, Ways and Means Committee, House of Representatives
1912-13	Expert, Banking and Currency Committee, House of Representatives (drafting Federal Reserve Act)
1912-14 1919-31	Associate editor, N. Y. Journal of Commerce Editor in chief, N. Y. Journal of Commerce
1913-14 1917-	Lecturer, Columbia University Professor of banking, Columbia University
1914-18 1918-221922	Secretary, Federal Reserve Board, Washington Director of Research, Federal Reserve Board (moved office to New York for this period) Consulting economist, Federal Reserve Board
1916-17	President, Philippine National Bank
1919	Special commissioner in Australasia for Chase National Bank and Central Union Trust Company
1926-27	Chairman, Banking Commission of Irish Free State
1930-32	Technical adviser to U. S. Senate Banking and Currency Committee (drafting Banking Act of 1933)
1932-35	American representative to Le Temps, Paris
1937, July 18	Died

Author of:

Report of the Monetary Commission. 1898. (Joint author)
History of the Latin Monetary Union. 1901.
Reciprocity (with Prof. J. L. Laughlin). 1903.
Our Philippine Problem. 1905.
Principles and Problems of Modern Banking. 1910.
Principles of Accounting. 1910.
Life of Stephen A. Douglas. 1911.
The Federal Reserve. 1915.
American Banking. 1916.
The Modern Trust Company (with Kirkbride and Sterrett). 1919.
Banking and Business (with Geo. W. Edwards). 1922.
[Supplementary chapter “Federal Reserve Banks” in the fourth edition of Charles F. Dunbar and Oliver M. W. Sprague The Theory and History of Banking. 1922.]
The Federal Reserve System. 1923.
Federal Reserve Banking Practice (with W. H. Steiner). 1925.
Foreign Banking Systems (with B. H. Beckhart). 1929.
Investment Banking (with J. I. Bogen). 1929.
Contemporary Banking (with J. M. Chapman and R. W. Robey). 1933.
The Banking Situation (with J. M. Chapman). 1933.
Economics of Inflation (with J. M. Chapman). 1934.

Contributor to:

Economic and other journals.

See: Who Was Who in America, 1897-1942, vol. I, Marguis

Source: FRASER. Committee on the History of the Federal Reserve System. Register of Papers: Willis, Henry Parker. Entry 176a, Box 1, Folder 2, Item 50.

_____________________________

The double life of H. Parker Willis

H. Parker Willis stayed busy. During his 29 years at The Journal of Commerce [JOC], there was rarely a moment when he was not also involved in shaping U.S. economic and banking institutions. The results of his efforts are still seen today.

Willis’ extracurricular work while a JoC employee would lead to the creation of the Philippine Central Bank and later the Philippine American Chamber of Commerce. Most important, his research and his brilliant insights led to the creation of the U.S. Federal Reserve System.

When he joined the JoC in 1902 at the age of 28, he had already been a star professor of economics and political science at Washington and Lee University. He took an academic leave to travel to the Far East in 1903-05 as a correspondent for the JoC and the Engineering and Mining Journal.

In between his dispatches, Willis began a study that led to the creation of the Philippine National Bank. Willis would become the first head of the bank, which served as the nation’s central bank, while still on the staff of the JoC.

But he was just warming up. Returning to the U.S. in the fall of 1906, he became the first head of Washington and Lee’s School of Commerce, while still writing for the JoC. He also became the economic adviser to Rep. Carter Glass, D-Va. His work for the JoC and Glass took him to the nation’s capital so frequently that the university’s president complained, resulting in Willis’ resignation. The school’s student body sent the university’s board a vigorous declaration of support for the popular professor.

Willis continued to write for the JoC, and in 1912 he became executive director of the National Monetary Commission. The commission had been created at the behest of Glass, who had been elected to the Senate. Under Willis’ direction, the commission issued a study recommending creation of a U.S. central bank. After Woodrow Wilson was elected president, he asked Glass to begin working on legislation.

Together with Glass, Willis drafted the enabling legislation. The measure was opposed by big banks, which wanted no central authority over them. Willis came up with a solution – a Federal Reserve System consisting of regional Federal Reserve banks owned by member banks but run as “corporations operated for public service.”

The regional Fed directors would come from banking and industry, along with citizens appointed by the Federal Reserve Board in Washington. The president would appoint the Fed’s seven-member board of governors, with the Treasury secretary and comptroller of the currency as ex-officio members.

“Willis took the best of the existing proposals, together with a brilliant balance of public-private ownership and leadership, to fashion a unique central banking institution,” said Robert Bremner, who is writing a biography of William McChesney Martin Jr., the Fed’s chairman from 1951 to 1970.

Another of Willis’ innovations was to have the 12 regional banks serve as clearinghouses for checks written by the depositors of member banks. Willis reasoned that this would give the Fed a practical purpose, in addition to replacing the patchwork of inefficient regional systems with a unified national framework for check collection.

Without check-clearing duties, he later said, the Fed banks would have become “merely the holders of dead balances carried for the member banks without any service for them; and since the business public abhors any idle or unnecessary institution…it would not submit long to the needless burden created by such emergency institutions designed to put out financial fire.”

After the Federal Reserve Act was passed in 1913, Willis became the Federal Reserve Board’s first secretary from 1914-18. He became its director of research from 1918-22, which meant he was chief economist, although the position was not called that yet. “These two staff positions first held by Dr. Willis remain the most influential at the Fed today,” Bremner said.

All through this time, Willis was writing for the JoC as its Washington economic correspondent. As if that wasn’t enough, he also became a professor of economics at George Washington University and later dean of its college of political science. He also lectured at Columbia University and became a full professor of economics there in 1919.

Willis also became editor- in-chief of the JoC in 1919. He steered the paper’s coverage in a new direction. With his profound grounding in economics and political science, he believed the paper should place the coverage of business and commerce within the context of economics and government.

As he stated in the paper’s centennial issue in 1927: “Business (and) economic life as a whole is a unit essentially and hence demands a unified treatment, which is impossible where attention is solely concentrated on finance or upon some specialized branch of industry.”

It was this vision of business and economic coverage that would differentiate the JoC from other business papers with its broad coverage of the nation’s business activities within the context of what was going on in the economy.

Willis resigned as editor of the JoC in 1931, but he continued to teach at Columbia. He wrote a series of five books on his passion – banking and monetary policy. They were The Federal Reserve System (1923), Federal Reserve Banking Practice (1926), The Theory and Practice of Central Banking (1936), The Banking Situation, Post-War Problems and Developments (1934), and The Federal Funds Market (republished in 1970).

Willis’ contributions to economic and monetary theory and policy, the establishment of the Fed and the growth of the JoC are still remembered. In a speech at Washington and Lee last March, Roger W. Ferguson Jr., the Fed’s current vice chairman, paid tribute to Willis as “a leader in teaching economics and political science and a major contributor to the establishment of the Federal Reserve.”

Source: Journal of Commerce website, A Proud History since 1827: The Journal of Commerce, page 11.

_____________________________

FACULTY OF POLITICAL SCIENCE
Memorial minute for Prof. H. Parker Willis
April 22, 1938

H. Parker Willis

Professor H. Parker Willis died on July 18^th, 1937, in the 63^rd year of his life.

Willis first became associated with us in the years immediately preceding the war when the first tentative steps were being taken in the formulation of a group of courses which was to become the offering of the School of Business. Although in only his 39^th year, he brought to Columbia an equipment of training and experience that contributed richly to the success of that school and to the development of the field of money and banking. His foundations in the economic discipline had been firmly laid in his years of graduate work at Chicago, during the regime of Laughlin, and in his studies at Leipzig and Vienna. His remarkable skill as a teacher and administrator had been matured during fourteen years in professorial positions at other institutions, culminating in the deanship of the College of Political Sciences of George Washington University. His fluent pen had already produced a half-dozen scholarly volumes as well as an impressive output of more ephemeral writing which had established him as a brilliant economic journalist and editor. Finally, his capacity to analyze technical problems of public policy had been demonstrated in his service with the Monetary Commission and with the Congressional committee that drafted the Federal Reserve Act.

At Columbia Willis found an environment well suited to his particular talents and an opportunity commensurate with his capacity. Here there existed a firmly established tradition that the University should enlighten public opinion and apply its special skills to the solution of problems of public policy. Possessed of a fund of energy that was constantly a source of envious amazement to all who knew him, he came to us at the height of his powers and devoted twenty-four years of his life to investigation, instruction, and public service. His activities as an editor and a correspondent for financial journals, as director of research and consultant of the Federal Reserve Board, and as adviser to governments at home and abroad served not only to advance the public good but also to enrich and vivify his teaching and research.

By his contributions to science and polity Willis built for himself an imposing monument, the specifications of which we need not here detail. It stands for the world to see and admire. At the same time, he constructed, without conscious plan, an even more impressive and inspiring memorial in the hearts of his friends. We who knew him through long association will best remember him for the quality of his personal character.

There are those who take pride in the possession of a conscience which forbids them to shirk a duty. For Willis there seemed to be no duties, to be performed or shirked, but only opportunities, to be embraced with enthusiasm. In the academic round there was no one more faithful and dependable, no one more generous and unselfish. He stimulated each student to achieve the best of which he was capable and his interest and patience in guiding and molding even the least promising of them was the occasion for frequent remark. His attitude toward all his academic associates was one of kindliness and tolerance and the standards he used in judging himself were always more strict than those he applied to others.

One of his most appealing personal characteristics was his capacity for righteous indignation. He coupled an intense loyalty to those persons and principles in whose trustworthiness he had faith with an old-fashioned sense of individual obligation to defend the true and the good without counting costs or consequences. Incompetence, especially when linked with pretentiousness, and ignorance, especially when displayed by those who exercised arbitrary authority, were to Willis moral crimes which it was his personal duty to expose. His reaction in such cases was exactly that which he exhibited when, one evening, a misguided goot-pad [“good-bad” in a German-Jewish accent?] stopped him at the point of a pistol as he was hurrying toward the Staten Island Ferry. To comply with the demand that he surrender his valuables did not enter his mind as a possibility. Here was an enemy of society whose career should be expeditiously and firmly discouraged; and Willis proceeded to accomplish this end, instinctively and without hesitation, with the aid of a briefcase heavily loaded with financial documents. Truly he was a battler for the Lord, skillful but fair in the use of his weapons, and entirely without fear. Of him one could say, as Lord Bryce said of Dean Stanley, “You might think him right or wrong but you never doubted that he was striving after the truth.” And his joy in the strife was an inspiration to all who knew him.

Source: Columbia University Archives. Minutes of the Faculty of Political Science, 1920-1939. Bound, typed manuscript. Pages 827-8.

Image Source: Passport application of August 4, 1916 of Henry Parker Willis

Tags HP Willis, Laughlin

Bibliography Columbia Courses Economists Suggested Reading

Columbia. Friedman’s lecture notes to first Hotelling lecture in Mathematical Economics, 1933

Post author By Irwin Collier
Post date 2017-10-06

On October 3, 2017, Antoine Missemer tweeted an image of an undated examination question by Harold Hotelling “Describe two mathematical contributions to economics published before 1910”. One should note that asking students to talk about work published at least a quarter century before the current academic year is not necessarily a deep dive into the history of economics, though of course Cournot, Bertrand and Edgeworth had achieved “historical” fame by 1933.

From Harold Hotelling’s course in Mathematical Economics taught in the first semester of 1933/34 at Columbia, Milton Friedman kept about forty-five 3 by 5 inch index cards worth of notes (both sides). From his first lecture, we can put together a convenient “short list” of Hotelling’s chosen greatest hits in mathematical economics. I have taken the liberty of expanding Friedman’s abbreviations, figuring the main purpose of transcribing archival material is to ease digital search down the road.

Earlier postings include a list of Hotelling’s courses and his class rolls at Columbia as well as an outline and exam for his course in mathematical economics offered at North Carolina (1946, 1950).

___________________________

Milton Friedman’s student notes to Harold Hotelling’s first lecture in Mathematical Economics (1933)

9/2/33 (1)

Hotelling, Harold on Mathematical Economics

Has been stated that methodological difference between economics + natural sciences is that in former cannot + in latter do experiments

Not entirely true: in econonomics may experiment, + in some physical sciences (e.g. astronomy, meteorology etc.) do not experiment.

Better dividing line to be found in number of relevant factors

Use of Mathematics in Economics:

A. Cournot 1838

J. Bertrand 1883 Journal des Savants (reviewed Cournot)

F. Y. Edgeworth 1881 Math. Psychics. Papers relating to Pol. Economy.

Pareto

Alfred Marshall Principles of Economics

(Edgeworth laid foundation of many theories more modern than Marshall

Using higher Mathematics in Economics

G. C. Evans

C. F. Roos

Zeuthen

Pareto in Encyclopedie des Science Math, Vol I, Tome IV part 4 (Tome I, Vol. IV)

[Yes, that is all that Friedman wrote down for that lecture]

Source: Hoover Institution Archives. Milton Friedman Papers, Box 120, Class note cards.

___________________________

Links to Works Referred to by Hotelling

Cournot, Augustin. Recherches sur les Principes Mathématiques de la Théorie des Richesses. Paris: Hachett, 1838.

Nathaniel T. Bacon translation: Researches into the Mathematical Principles of the Theory of Wealth with a bibliography of Mathematical economics by Irving Fisher. New York: Macmillan, 1897.

Bertrand, J. (Review of) Théorie Mathématique de la Richesse Sociale par Léon Walras: Recherches sur les Principes Mathématiques de la Théorie des Richesses par Augustin Cournot. Journal des Savants 67 (1883), 499-508.

Edgeworth, F. Y. Mathematical Psychics. An Essay on the Application of Mathematics to the Moral Sciences. C. Kegan Paul & Co., 1881.

Edgeworth, F. Y. Papers Relating to Political Economy. Volume I; Volume II; Volume III. London: Macmillan, 1925.

Pareto, Vilfredo. Économie mathématique, —in Encyclopédie des sciences mathématique, Tome I, vol. 4 (Fascicule 4, pp. 590-640), 1906 [?].

Marshall, Alfred. Principles of Economics (8^th edition). London: Macmillan, 1920.

Griffith C. Evans. Mathematical Introduction to Economics. New York: McGraw-Hill Book Co., 1930.

Reviewed by Hotelling in Journal of Political Economy, 39, no. 1 (Feb 1931) pp. 107-09.

F. Zeuthen Problems of Monopoly and Economic Warfare. London: Routledge, 1930.

Reviewed by Corwin D. Edwards (New York University) in AER, 21, no. 4 (December, 1931), pp. 701-704.

Charles Frederick Roos. Dynamic Economics—Theoretical and Statistical Studies of Demand, Production and Prices. Monographs of the Cowles Commission for Research in Economics, No. 1. Bloomington, Indiana: Principia Press, 1934.

Image source: From a photo of the Institute of Statistics leadership around 1946: Gertrude Cox, Director, William Cochran, Associate Director-Raleigh and Harold Hotelling, Associate Director-Chapel Hill. North Carolina State University.

Tags Friedman, Hotelling

Berkeley Suggested Reading Syllabus

Berkeley. Graduate Macroeconomics. Syllabus, 1959

Post author By Irwin Collier
Post date 2017-10-05
2 Comments on Berkeley. Graduate Macroeconomics. Syllabus, 1959

The following reading list from the University of California (Berkeley), Spring 1959, was found in the papers of Martin Bronfenbrenner who as far as I can determine was at Michigan State at the time. Perhaps someone who looks at the reading list (formatted more-or-less to look like the original mimeo) could identify which of the instructors listed for the course (Papandreou, Scitovsky, Caves, Minsky) might have assembled the reading list. The capitalization of book titles is not common. It is also interesting to note that income distribution, typically part of the second term of price theory elsewhere, is covered before turning to more familiar (today) macroeconomics territory. Something else worth noting is the use of “macro-statics” and “macro-dynamics”. Comments welcome!

_________________________

Course Announcement

Graduate Courses

Admission to graduate courses requires, in all cases, the consent of the instructor. Undergraduate courses are not prerequisite to graduate courses, except where indicated.

200A-200B. Fundamentals of Economic Theory. (3-3) Yr.

[Harvey Leibenstein, Ph.D., Associate Professor of Economics, in residence, fall semester only, 1958-59; Tibor Scitovsky, M.Sc., J.D., Professor of Economics; Philip W. Bell, Ph.D., Associate Professor of Economics, in residence, fall semester only, 1958-59; Richard E. Caves, Ph.D., Assistant Professor of Economics; Hyman P. Minsky, Ph.D., Assistant Professor of Economics.]

200A. Micro-economics: the behavior of firms and households, and the determination of prices and resource allocation patterns in a decentralized economy. Mr. Bell, Mr. Leibenstein, Mr. Scitovsky.

200B. Macro-economics: general interdependence and the behavior of aggregates in a decentralized economy. National income and employment determination. The impact of fiscal and monetary policies on employment, national income and its distribution. [Andreas G. Papandreou, Ph.D., Professor of Economics (Chairman of the Department)], Mr. Scitovsky, Mr. Caves, Mr. Minsky.

Source: Bulletin of the University of California 1958-59. General Catalogue. Announcement of Courses, Departments at Berkeley. Fall and Spring Semesters, 1958-59. (July 10, 1958), pp. 109, 114.

_________________________

UNIVERSITY OF CALIFORNIA
Department of Economics
Spring, 1959

Reading List
Economics 200B

It is suggested that students purchase the following works:

J. M. Keynes, THE GENERAL THEORY OF EMPLOYMENT, INTEREST, AND MONEY
U. S. Department of Commerce, 1954 NATIONAL INCOME SUPPLEMENT to the survey of CURRENT BUSINESS.

I. The Pricing of Productive Services and the Distribution of Income

G. J. Stigler, THE THEORY OF PRICE, chaps. 10, 15
J. R. Hicks, THE THEORY OF WAGES, chaps. 1-4
E. Rolph, “The Discounted Marginal Productivity Doctrine,” in American Economic Association, READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp. 278-293
F. A. v. Hayek, “The Mythology of Capital,” READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp. 355-383
D. H. Buchanan, “The Historical Approach to Rent and Price Theory,” READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp. 599-637
F. H. Knight, “Profit,” READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp., pp. 533-546
B. F. Haley, “Value and Distribution,” SURVEY OF CONTEMPORARY ECONOMICS, Vol. I (ed. H. S. Ellis), pp. 26-48
N. Kaldor, “Alternative Theories of Distribution,” REVIEW OF ECONOMIC STUDIES, XXIII (1955-56), pp. 83-100
M. Kalecki, “The Distribution of the National Income,” READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp. 197-217

II. Macro-statics: National Income and Aggregate Demand

U. S. Department of Commerce, 1954 NATIONAL INCOME SUPPLEMENT
O. Lange, “Say’s Law: A Restatement and Criticism,” STUDIES IN MATHEMATICAL ECONOMICS AND ECONOMETRICS (ed. O. Lange, F. McIntyre, and T. O. Yntema), pp. 49-68

III. Consumer Behavior, the Consumption Function and Income Levels

J. S. Duesenberry, “Income-Consumption Relations and Their Implications,” in INCOME, EMPLOYMENT AND PUBLIC POLICY, ESSAYS IN HONOR OF ALVIN H. HANSEN, pp. 54-81.
J. Tobin, “Relative Income, Absolute Income, and Saving,” MONEY, TRADE, AND ECONOMIC GROWTH, ESSAYS IN HONOR OF J. H. WILLIAMS, pp. 135-156
M. Friedman, A THEORY OF THE CONSUMPTION FUNCTION, chaps. 2, 3
P. A. Samuelson, “The Simple Mathematics of Income Determination,” INCOME, EMPLOYMENT AND PUBLIC POLICY, pp. 133-155

IV. Business Behavior, the Level of Investment and the Rate of Interest

T. Scitovsky, WELFARE AND COMPETITION, pp. 216-226
J. Meyer and E. Kuh, “Acceleration and Related Theories of Investment,” REVIEW OF ECONOMICS AND STATISTICS, XXXVII, (August, 1955), pp. 217-230
A. P. Lerner, “On the Marginal Product of Capital and the Marginal Efficiency of Investment,” JOURNAL OF POLITICAL ECONOMY, LXI (February, 1953), pp. 1-15
J. R. Hicks, VALUE AND CAPITAL, chaps. 11-13
N. Kaldor, “Speculation and Economic Stability,” REVIEW OF ECONOMIC STUDIES, VII (October, 1939), pp. 1-27
J. Tobin, “Liquidity Preference and Monetary Theory,” REVIEW OF ECONOMICS AND STATISTICS, XXIX (May, 1947), pp. 124-130

V. Macro-static Models

P. Lerner, THE ECONOMICS OF CONTROL, chaps. 21-25
L. R. Klein, “Theories of Effective Demand and Employment,” JOURNAL OF POLITICAL ECONOMY, LV (April, 1957), pp. 108-131
J. R. Hicks, “Mr. Keynes and the ‘Classics’; A Suggested Interpretation,” READINGS IN THE THEORY OF INCOME DISTRIBUTION, pp. 461-476
F. Modigliani, “Liquidity Preference and the Theory of Interest and Money,” READINGS IN MONETARY THEORY, pp. 186-240
D. Patinkin, “Price Flexibility and Full Employment,” READINGS IN MONETARY THEORY, pp. 252-283

VI. Macro-dynamics and Economic Growth

E. D. Domar, “Expansion and Employment,” AMERICAN ECONOMIC REVIEW, XXXVII (March, 1947), pp. 34-55
R. Solow, “A Contribution to the Theory of Growth,” QUARTERLY JOURNAL OF ECONOMICS, LXX (February, 1956), pp. 65-93

VII. Inflation

A. C. L. Day, AN OUTLINE OF MONETARY ECONOMICS, CHAPS. 19-31

Source: Duke University, Rubenstein Library. Economists’ Papers Archive. Martin Bronfenbrenner Papers, 1939-1995. Box 26, Folder “Micro-econ + Distribution, 2 of 2, 1958-67, n.d.”.

Tags Bronfenbrenner, Caves, Minsky, Papandreou, Scitovsky

Economists Fields Harvard

Harvard. Economics Ph.D. candidates, fields, examiners, thesis committees, 1917-18

Post author By Irwin Collier
Post date 2017-10-04

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

Note: 1916-17 list was not found in the collection.

________________________________________

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
EXAMINATIONS FOR THE DEGREE OF PH.D.
1917-18

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

Henry Bass Hall.

Special Examination in Economics, Thursday, January 10, 1918.
General Examination passed May 4, 1916.
Academic History: Harvard College, 1904-05; Amherst College, 1906-07; Massachusetts Agricultural College, 1911-12; Harvard Graduate School, 1913-17. S.B., Massachusetts Agricultural College, 1912; A.M., Harvard, 1916. Assistant in Economics, 1916—.
General Subjects: 1. Economic Theory and its History. 2. Money and Banking. 3. International Trade. 4. Economic History since 1750. 5. Agricultural Economics. 6. American History since 1789.
Special Subject: Agricultural Economics.
Committee: Professors Carver (chairman), Turner, Bullock, and Ford.
Thesis Subject: “A Description of Rural Life and Labor in Massachusetts at Four Periods.” (With Professors Carver and Gay).
Committee on Thesis: Professors Carver, Day, and Dr. Morison.

Hermann Franklin Arens.

Special Examination in Economics, Monday, April 29, 1918.
General Examination passed May 15, 1914.
Academic History: Harvard College, 1903-06; Episcopal Theological School, Cambridge, 1906-08; General Theological Seminary, New York, 1908-09; Harvard Graduate School, 1912-16. A.B., Harvard, 1907; A.M., ibid., 1913. Assistant in Economics, 1912-13; Assistant in Social Ethics, 1913-14; Assistant in Economics, 1914-15.
General Subjects: 1. Economic Theory and its History. 2. Sociology. 3. Socialism and Labor Problems. 4. Philosophy. 5. Agricultural Economics. 6. Money, Banking, and Commercial Crises.
Special Subject: Sociology.
Committee: Professors Carver (chairman), Day, Anderson, and Foerster.
Thesis Subject: “The Relation of the Group to the Individual in Political Theory.” (With Professor Anderson.)
Committee on Thesis: Professors Anderson, Carver, and Yeomans.

John Emmett Kirshman.

Special Examination in Economics, Friday, May 3, 1918.
General Examination passed May 12, 1916.
Academic History: Central Wesleyan College, 1901-04; Syracuse University, 1907-08; University of Wisconsin, 1908-09; University of Illinois, 1914-15; Harvard Graduate School, 1915—. Ph.B., Central Wesleyan, 1904; Ph.M., Syracuse, 1908. Assistant Professor of History, North Dakota Agricultural College, 1909-14; Teaching Fellow in Economics, University of Illinois, 1914-15; Instructor in Economics, Simmons College, 1916—.
General Subjects: 1. Economic Theory and its History. 2. Public Finance. 3. Economic History since 1750. 4. Comparative Modern Government. 5. Economics of Corporations. 6. Socialism and Social Reform.
Special Subject: Public Finance.
Committee: Professors Bullock (chairman), Day, Anderson, and Dr. Burbank.
Thesis Subject: “The Taxation of Banks and Trust Companies in New England.” (With Professor Bullock.)
Committee on Thesis: Professors Bullock, Sprague, and Day.

James Washington Bell.

Special Examination in Economics, Wednesday, May 15, 1918.
General Examination passed May 3, 1916.
Academic History: University of Colorado, 1908-14; Harvard Graduate School, 1914—. A.B., Colorado, 1912; A.M., ibid., 1913. Assistant in Economics, University of Colorado, 1912-14; Assistant in Government, Harvard, 1916-17; Tutor in the Division of History, Government, and Economics, 1916—; Austin Teaching Fellow in Government, 1917.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Public Finance. 4. Labor Problems. 5. Sociology. 6. Municipal Government.
Special Subject: Public Finance.
Committee: Professors Bullock (chairman), Ripley, Day, and Dr. Burbank.
Thesis Subject: “Taxation of Railroads in New England.” (With Professor Bullock.)
Committee on Thesis: Professors Bullock, Ripley, and Cunningham.

Marion O’Kellie McKay.

Special Examination in Economics, Friday, May 17, 1918.
General Examination passed May 13, 1915.
Academic History: Ohio Northern University, 1904-07; Ohio State University, 1908-10; Harvard Graduate School, 1911-12, 1913-16. S.B., Ohio Northern, 1907; A.B., Ohio State, 1910; A.M., Harvard, 1912. Assistant Professor of Economics, New Hampshire College, 1916—.
General Subjects: 1. Sociology. 2. Money, Banking, and Crises. 3. Economic Theory. 4. Public Finance. 5. Economic History since 1750. 6. Municipal Government.
Special Subject: Public Finance.
Committee: Professors Bullock (chairman), Carver, Day, and Dr. Burbank.
Thesis Subject: “The History of the Poll Tax in the New England and the Middle and South Atlantic States.”
Committee on Thesis: Professors Bullock, Turner, and Day.

Arthur Eli Monroe.

Special Examination in Economics, Monday, May 20, 1918.
General Examination passed October 13, 1915.
Academic History: Harvard College, 1904-08; Harvard Graduate School, 1913—.A.B., Harvard, 1908; A.M., ibid., 1914. Teacher of Latin and German, Kent School, Connecticut, 1909-13; Assistant in Economics, Harvard, 1914-Feb., 1916; Tutor in the Division of History, Government, and Economics, 1915—; Instructor in Economics, Williams College, Feb.-June, 1916; Instructor in Economics, Harvard, 1916—.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Public Finance. 4. Statistical Method and its Application. 5. History of Political Theory. 6. History of Economic Thought (1500-1776).
Special Subject: History of Economic Thought (1500-1776).
Committee: Professors Bullock (chairman), Carver, McIlwain, and Day.
Thesis Subject: “The Theory of Money Before 1776.” (With Professor Bullock.)
Committee on Thesis: Professors Bullock, Carver and Anderson.

Robert Herbert Loomis.

General Examination in Economics, Wednesday, May 22, 1918.
Committee: Professors Bullock (chairman), Ripley, Carver, Day, and Foerster.
Academic History: Clark College, 1908-11; Harvard Graduate School, 1914—. A.B., Clark, 1911. Teacher, Fay School, Southboro, 1912-14; Assistant in Social Ethics, 1915-16; Tutor in the Division of History, Government, and Economics, 1916-17.
General Subjects: 1. Economic Theory and its History. 2. Statistical Method and its Application. 3. Labor Problems. 4. Socialism and Social Reform. 5. Anthropology. 6. Economic History since 1750.
Special Subject: Economic History since 1750.
Thesis Subject: “Development of the Boot and Shoe industry in Massachusetts since 1875.” (With Professor Gay.)

Albert John Hettinger, Jr.

General Examination in Economics, Thursday, May 23, 1918.
Committee: Professors Ripley (chairman), Turner, Cole, Day, and Gras.
Academic History: Leland Stanford Jr. University, 1912-17; Harvard Graduate School, 1917—. A.B., Stanford, 1916; A.M., ibid., 1917. Assistant in Economics, Stanford University, 1915-17.
General Subjects: 1. Economic Theory and its History. 2. American History since 1789. 3. Accounting. 4. Statistical Method and its Application. 5. Economic History since 1750. 6. Transportation.
Special Subject: Transportation.
Thesis Subject: “A Study of the Rock Island Railroad.” (With Professor Cunningham.)

Thomas Henry Sanders.

General Examination in Business Economics, Friday, May 24, 1918.
Committee: Professors Sprague (chairman), Bullock, Cole, Carver, and Mr. McCarty.
Academic History: University of Birmingham, England, 1902-05; Harvard Graduate School of Business Administration, 1917—. B.Com., Birmingham, 1905; M.Com., ibid., 1914. Instructor in Commercial Practices, Higher Commercial School, Yamaguchi, Japan, 1911-17.
General Subjects: 1. Economic Theory. 2. Economics of Agriculture. 3. Accounting. 4. Marketing. 5. Foreign Trade. 6. Money and Banking.
Special Subject: Money and Banking.
Thesis Subject: “Banking in Japan.” (With Professor Sprague.)

Hebert Knight Dennis.

Special Examination in Economics, Monday, May 27, 1918.
General Examination passed February 29, 1916.
Academic History: Allegheny College, 1907-08; Brown University, 1910-12; Princeton University, 1912-14; Harvard Graduate School, 1914-16.Ph.B., Brown, 1912; A.M., Princeton, 1914; A.M., Harvard, 1915. Assistant in Sociology, University of Illinois, 1916—.
General Subjects: 1. Economic Theory and its History. 2. Ethical Theory and its History. 3. Poor Relief. 4. Social Reforms. 5. Sociology. 6. Anthropology.
Special Subject: Social Psychology.
Committee: Professors Carver (chairman), Dearborn, Anderson, and Foerster.
Thesis Subject: “The French Canadians: A Study in Group-Traits, with Special Reference to the French Canadians of New England.” (With Professor Foerster.)
Committee on Thesis: Professors Foerster, Turner, and Ripley.

Frank Dunstone Graham.

General Examination in Economics, Monday, June 3, 1918.
Committee: Professors Bullock (chairman), Carver, Yeomans, Day, and Gras.
Academic History: Dalhousie University, 1906-07, 1910-13; Law School of Dalhousie University, 1913-15; Harvard Graduate School, 1915-17. A.B., Dalhousie, 1913; LL.B., ibid., 1915; A.M., Harvard, 1917. Tutor in the Classics, Dalhousie University, 1913-14; Assistant in Political Science, Rutgers College, 1917—.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Public Finance. 4. Sociology. 5. History of Political Theory. 6. International Trade and Tariff Policy.
Special Subject: International Trade and Tariff Policy.
Thesis Subject: Undetermined.

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1917-18”.

Image Source: Sever Hall, Harvard University (ca 1904). Library of Congress Prints and Photographs Division Washington, D.C.

Tags Arens, BellJW, Dennis, GrahamFD, HallHB, Heetinger, Kirshman, Loomis, McKay, Monroe, Sanders

Chicago Regulations

Chicago. Graduate Schools and Regulations. April, 1892

Post author By Irwin Collier
Post date 2017-10-03

The new University of Chicago began its “work of instruction” in October, 1892. In a series of Official Bulletins an outline of the organization of its constituent divisions and departments along with sundry regulations was published. The fourth Bulletin in the series was dedicated to the Graduate Schools of the University and it is transcribed below. Literally we have here a founding document, an institutional initial condition from which to trace the development of graduate education at Chicago. These organizational blueprints included the Department of Political Economy that James Laurence Laughlin signed up to build as its first head.

__________________________

THE
UNIVERSITY OF CHICAGO.
CHICAGO, ILLINOIS.

OFFICIAL BULLETIN, NO. 4.
APRIL, 1892.

THE GRADUATE SCHOOLS OF THE UNIVERSITY.

CONTENTS.

The Schools and Their Organization.

1) The various Schools.
2) The Relation of the Schools to the Colleges.
3) The Courses offered in each School.
4) The Administration of the Schools.

Admission to the Graduate Schools.

1) The Terms of Admission.
2) Method of Admission.

Candidates for a Degree.

1) For A.M., S.M., Ph. M.
2) For Ph. D.
3) For LL. D.

Regulations for the Selection of Courses.
Non-resident Graduate Work.
University Fellows.

1) Perquisites.
2) Basis of Appointment.
3) Service.
4) First Assignment.
5) Method of Application.

Docents.

1) Basis of Appointment.
2) Amount and Character of Teaching.
3) Compensation.
4) Method of Application.

Theses and Examinations.
Departmental Journals.
Special Regulations for the Graduate Schools.

__________________________

I. THE SCHOOLS AND THEIR ORGANIZATION.

The Various Schools:

(1)* The School of Philosophy.
(2)* The School of Political Economy.
(3) The School of Political Science.
(4)* The School of History.
(5)* The School of Social Science.
(6)* The School of the Semitic Languages and Literatures.
(7)* The School of Sanskrit, Zend and Indo-Germanic Comparative Philology.
(8)* The School of the Greek Language and Literature.
(9)* The School of the Latin Language and Literature.
(10)* The School of the Romance Languages and Literatures.
(11)* The School of the Germanic Languages and Literatures.
(12)* The School of English.
(13)* The School of Mathematics and Astronomy.
(14) The School of Physics.
(15)* The School of Chemistry.
(16)* The School of Biology.
(17) The School of Geology and Mineralogy.
(18) The School of Civil Engineering.
(19) The School of Mechanical Engineering.
(20) The School of Electrical Engineering.
(21) The School of Mining Engineering.

The particular courses to be offered in each school will be announced in the University Calendar, to be issued in May. The remaining Schools will be organized as early as circumstances will permit.

Note.—The Schools designated with an * will be open for graduate work October 1892.

The Relation of the Schools to the Colleges: For the sake of unity and of convenience, the work of the University Colleges is in each case organized in connection with that of the Graduate Schools, the same relation existing between the University Colleges and the Graduate Schools which exists between the Academy and the Academic Colleges.

The Courses offered in each School:

(1) Courses intended exclusively for Graduate students.
(2) Courses intended primarily for Graduate students, to which, however, University College students may be admitted.
(3) Courses intended primarily for University College students, to which, however, Graduate students will be admitted.

The Administration of the Schools: The administration of the schools will be conducted by

1) The President of the University.
2) The Dean of the Graduate Department, who shall be appointed by the Trustees, and who shall (1) take charge of the special correspondence of the department; (2) arrange in consultation with the heads of schools the courses of study to be offered from quarter to quarter; (3) present business for the action of the Faculty of Arts and Sciences; (4) preside at the meetings of the Faculty of Arts and Sciences, and at the meetings of the University Council and of the University Senate, in the absence of the President; (5) co-operate with the University Examiner in arranging for graduate examinations; (6) personally meet and consult with all students entering the Graduate Schools, and give them a card of entrance; (7) assume general responsibility for the students in the graduate schools; (8) and serve in the University Council.*

*The University Council shall include (1) the President; (2) the University officers, viz., Examiner, Recorder, Registrar; (3) the Deans of all Schools, Colleges and Academies; (4) the Presidents of affiliated Colleges: (5) the Director of the University Extension Division; (6) the Director of the University Press. The Council shall hold stated meetings monthly, to discuss and decide matters relating to the general administration of the University.

3) Heads of Schools, who shall in each case (1) supervise in general the entire work of the school; (2) approve examination papers set in the school; (3) arrange, in consultation with the Dean, and with other instructors in the school, the particular courses to be offered from quarter to quarter; (4) examine all theses offered in the school; (5) edit such papers or journals as may be published by the University, on subjects relating to the work of the school; (6) conduct the Club and the principal Seminar of the department; (7) consult with the Librarian as to books and periodicals relating to the work of the school needed in the University or Departmental Libraries; (8) consult with the President and the Dean as to the appointment of instructors in the School; (9) countersign the course certificates of the School; (10) and serve in the University Senate.^‡

^‡The University Senate shall include (1) the President; (2) the University Recorder; (3) the Heads of Departments in all schools (professional and non-professional) in the University; (4) the University Librarian. The Senate shall hold stated meetings monthly to discuss and decide matters relating to the educational work of the University.

Remark.—In the absence of the head of a School, the instructor next in rank, will assume his duties.

II. ADMISSION TO THE GRADUATE SCHOOLS.

Terms of Admission: Admission to the Graduate Schools of the University will be granted

1) To those who have been graduated from the University of Chicago with the degree of A.B., S.B., Ph B.
2) To those who are graduates of other institutions of learning of high standing, with degrees equivalent to those mentioned in the preceding paragraph.
3) To special students, of at least 21 years of age, not candidates for a degree, provided that (1) they can show good reason for not entering upon the regular course; (2) they can give evidence to the Dean and the particular instructor under whom they desire to study, that they are prepared to undertake the proposed subject or subjects; (3) they agree to adjust themselves to all the regulations of the University; (4) having been admitted, they maintain a standing which will warrant their continuance.
4) To honorary students, to attend the lectures offered, without undertaking the ordinary work of the class room. This privilege will be granted only in exceptional cases, upon application to the President of the University, or to the Dean of the Graduate Schools.

Applications for admission, in the case of students not graduates of this University, should be accompanied by testimonials as to character and scholarship; and, wherever possible, such testimonials should take the form of Diplomas, written or printed theses, or satisfactory evidence in some other form of the student’s fitness for admission.

Method of Admission: Applications should be addressed to the University Examiner. In entering for the first time the Graduate Department of the University, the student is expected

(1) To obtain by correspondence, or in person, from the University Examiner, a certificate that he is entitled to preliminary admission.
(2) To obtain from the Dean a card certifying that he is entitled to entrance into the Graduate Department, if found to be prepared and competent in the special schools in which he desires to work.
(3) To consult with the heads of these schools, to arrange the courses of work with them, and obtain their signatures upon his card.
(4) To deposit with the University Registrar a guaranty for the payment of all fees and charges, and to obtain from him, upon payment of a matriculation fee of $5.oo, the stamp of his office upon this card.*

*The Registrar will furnish to the Dean of the Graduate Department a list of all students whose cards have been thus endorsed with the stamp of his office.

In entering upon any course of study, the student must present this card to the instructor.

III. CANDIDATES FOR A DEGREE.

For the degree of Master of Arts, Master of Science or Master of Philosophy, the candidate will be required

(1) To have completed the corresponding Bachelor’s course.
(2) To have spent at least one year of resident study at the University in pursuance of an accepted course of study.
(3) To present a satisfactory thesis upon a subject which has been approved by the head of the school in which the principal part of the candidate’s work has been done.
(4) To pass a special final examination upon the work of the year.

For the degree of Ph. D., candidates will be required.

(1) To have completed a Bachelor’s course, including an amount of Latin equivalent to that required for the Bachelor’s degree in the University of Chicago.
(2) To spend three years of resident study at the University in pursuance of an accepted course of study.
(3) To present a satisfactory printed thesis (see below) upon a subject which has been approved by the head of the school in which the principal part of the candidate’s work has been done.
(4) To pass a satisfactory final examination upon the work of the three years.

For the degree of LL.D., candidates will be required.

(1) To have received the degree of Ph.D.
(2) To spend three years of resident study at the University, -in pursuance of an accepted course of study.
(3) To present a printed thesis (see below) upon a subject which has been approved by the head of the school in which the principal part of the candidate’s work has been done.
(4) To pass a satisfactory final examination upon the work of the three years.

Work done in other Universities. Graduate work done in another University will be accepted as resident work in the University of Chicago, provided that

(1) The institution in which the work has been done is one of high standing; and
(2) Sufficient evidence is furnished that the particular work has been satisfactorily performed.

In no case will work in another University count for more than one year and a half of resident work in this University.

IV. REGULATIONS FOR THE SELECTION OF COURSES.

The University Calendar will publish announcements of the particular courses offered during a given term or quarter. The Calendar will be published quarterly on the first day of June, September, December and March. Each number will contain (1) the preliminary announcements for the quarter beginning four months from the date of issue, and (2) the revised announcements for the quarter beginning four weeks from the date of issue.
Students in continuous residence will select at one time two Majors and two Minors, the work of a quarter. The selection shall be handed to the Dean within six weeks of the date of the preliminary announcement. Permission to substitute other courses will be granted only when, for any reason, a course offered in a preliminary announcement is withdrawn in the revised announcement.
Students who expect to resume work after an absence of a quarter or a term, and students entering the University only for a quarter or a term, must indicate their selection of, courses within one week from the date of the revised announcement. In case no selection has been indicated, a student may be admitted to a course only (1) by special permission granted by the Dean, and (2) after the payment of a special fee of $5.
Advanced courses in a department may not be selected before the preliminary work in the department has been completed. An instructor, with the approval of the President, may make the completion of the studies in tributary departments a condition in the selection of courses.
A candidate for a degree may not select more than two-thirds of his Majors or Minors during the three years of University work from one school.
The student may not, without special permission, select his Majors and Minors during the three years of University work from more than three different schools.

V. NON-RESIDENT WORK.

In the Graduate Department of the University, non-resident work may be substituted for resident work, under the following conditions:

(1) The non-resident student shall be expected to matriculate at the University, and to spend the first year of the time required for the degree in residence, unless he is able to satisfy the head of the school in which his principal work is to be done, that he can do the introductory work in a satisfactory manner, when not in attendance.
(2) The non-resident work shall be performed under the general direction of the head professor.
(3) The final examination shall be passed at the University.
(4) Non-resident work will be accepted for only one-third of the work required for a degree.
(5) In reckoning the comparative time-value of resident and non-resident work, two years of non-resident work, if satisfactorily performed, will be regarded as equivalent to one year of resident work.

VI. UNIVERSITY FELLOWS.

University Fellowships will be assigned in accordance with the following terms and conditions:

Twenty Fellowships will be assigned, each yielding the sum of $500 annually.
Twenty Fellowships will be assigned, each yielding the sum of $300 annually.
Honorary Fellowships, yielding no income and requiring no service, will be assigned as a mark of distinction in special cases.
The appointment to a Fellowship will be based upon proficiency already attained in a given department. It is very desirable that the student should have already spent one year in resident study after receiving his bachelor’s degree. In making the appointment, special weight will be given to theses, indicating the candidate’s ability to do original investigation.
Service. In order to cultivate independence on the part of the student, and to obtain for him the advantage which proceeds from practical work, each student on a fellowship will be expected to render assistance of some kind in connection with the work of the University. This assistance will consist, for the most part in service (1) as an instructor, either in colleges of the University, or in affiliated colleges; but in no case will a student be expected, or allowed, to devote more than one-sixth of his time to such service (while holding a fellowship, a student will not be permitted to do private tutorial work of any kind); (2) as assistant in the reading of examination papers; or (3) as an assistant on a University Journal.
The first assignment of fellowships will take place June 15th, and applications must be made on or before May 15th.
Method of application. Applications for a fellowship should be addressed to the President of the University. Such application should be accompanied by:

(1) A brief sketch of the life and work of the applicant.
(2) A catalogue of the institution from which he has received his bachelor’s degree, with the courses in which he has studied marked.
(3) Any theses or papers of a scientific character which have been prepared by the applicant, whether printed or otherwise.
(4) Letters or testimonials from former instructors in regard to the applicant’s ability in the particular line in which he applies for a fellowship. ,

VII. UNIVERSITY DOCENTS.

University docentships will be assigned in accordance with the following terms and conditions:

The appointment to a docentship will be restricted to those who have received from an approved institution the degree of Ph. D.
The Docent will be permitted to offer courses of instruction under the direction of the head professor in his department, in the Colleges of the University, and in the Graduate Department, but in no case shall he be allowed to do more than one-half of the work of the full instructor, it being expected that the remainder of his time shall be devoted exclusively to original investigation.
The Docent shall receive in compensation for his work a proportionate amount of the tuition fees of those who attend his courses, which shall be reckoned as follows: $8 from each student attending a Major course, and $4 from each student attending a Minor course.
Method of application. Applications for a docentship should be addressed to the President of the University. Such application should be accompanied by:

(1) A brief sketch of the life and work of the applicant.
(2) A catalogue of the institution from which he has received his bachelor’s degree.
(3) A detailed statement of the work for which the degree of Ph. D. was granted.
(4) Any theses or papers of a scientific character, which have been prepared by the applicant, whether printed or otherwise.
(5) Letters or testimonials from former instructors in regard to the applicant’s ability in the particular line in which he applies for a docentship.

VIII. THESES AND EXAMINATIONS.

The following are the requirements of candidates for the degree of Ph. D., with reference to theses and examinations:

Each student is required to prepare a thesis upon some question connected with a major subject. This production must be scholarly in character, exhaustive in its subject matter, and must constitute an actual contribution to knowledge.
The subject must be submitted for approval to the head professor at least 12 months before the date of the final examinations; the thesis itself must be submitted in written form to the head professor 3 months before the date of the final examinations, and, after acceptance, 25 printed copies of the same must be deposited in the Library within 30 days of the date of the final examinations. Accepted theses will become the property of the University.
In addition to the regular term examinations, during the period of residence, the candidate for the degree of Ph. D. will be required to pass a final written and oral examination, the latter to be conducted by the professors of the school in which the candidate has done his principal work, in the presence of professors representing at least three different schools of the University. In no case will the candidate be admitted to the final examination until his thesis has been accepted.
Candidates for the degree of A.M. will not be required to print their theses. The subject must be submitted for approval to the head professor at least six months before graduation, and the thesis, at least two months before graduation.
Candidates for the degree of LL. D. will not be received until further notice.

IX. DEPARTMENTAL JOURNALS AND PUBLICATIONS.

Each school of the Graduate Department will issue, through the University Press, either a journal or a series of papers relating to subjects connected with the schools. Such publications will include only papers of a scientific character.
The editorial work will be performed in each case by the head professor of the school, assisted by the other professors and instructors connected with the school. In the case of regularly-published journals, the names of all permanent instructors connected with the school shall be placed upon the title page as associate or assistant editors.
The financial responsibility for publication will be assumed by the University. Members of the University contributing to the Journals will receive no honorarium.
While one purpose of such publications is to furnish a medium for the publication of material prepared by those who are connected with the University, contributions from others will also be received, at the discretion of the editor.
Each article, editorial, book review or statement of any kind, appearing in a University publication, shall be signed by the writer. For such matter, the writer, not the University, will be responsible, but the editor shall assume responsibility for the admission of the article or statement.
Publications received in exchange, and books received for notice, shall be the property of the University Library.

X. SPECIAL REGULATIONS FOR THE GRADUATE SCHOOLS.

Quarters and Terms. The year shall be divided into four quarters, beginning respectively on the first day of October, January, April and July, and continuing twelve weeks each, thus leaving a week between the close of one quarter and the beginning of the next. Each quarter shall be divided into two equal terms of six weeks each.
Classification of Courses. All courses of instruction given in the University shall be classified as Majors and Minors. The Major will call for 10 hours of class-room work, or its equivalent, each week, the Minor for 5 hours of class-room work, or its equivalent, each week. All courses shall continue six weeks, but the same subject may be continued through two or more successive terms, either as a Major or a Minor.
The Work of Professors and Teachers. Each resident professor or teacher shall give instruction 36 weeks of the year, 10 hours a week, or its equivalent; no instructor shall be required to give instruction more than this amount.
The Vacations of Professors and Teachers. A professor or teacher may take as vacation any one of the four quarters, according as it may be arranged; or, he may take two vacations of six weeks each at different periods of the year.
Substitution and Extra Work. A professor or teacher, if he desire, may teach two quarters 5 hours a week, instead of one quarter 10 hours a week. For every quarter or term in the year he may teach beyond the three quarters required, and for every extra Minor in the quarter or term he may teach in addition to the 10 hours a week required, he shall receive either an extra two-thirds pro rata salary or an extra full pro rata vacation. A teacher who has taught three years of 48 weeks each, or six years of 42 weeks each, will thus be entitled to a year’s vacation on full salary.
Adjustment of Vacations. No work will be credited for extra vacation or extra salary except that which may have been accepted by the President, the Dean of the Graduate Schools and the Heads of the Schools concerned. All vacations, whether extra or regular, shall be adjusted to the demands of the situation, in order that there may always be on hand a working force.
Tuition-Fee. The fee for instruction shall be $35.00 a quarter. Besides the tuition fee there shall also be an incidental fee of $2.50 a quarter, and a library fee of $2.50 a quarter. To students entering the University for the first time there will be a charge of $5.00 as a matriculation fee. The fee for graduation is $10.00.
Full and Partial Work of a Student. Each student doing full work shall be required to take one Major and one Minor during each term of a quarter, but a student by special request may, for good and sufficient reasons, be permitted to take one Major or two Minors, in which case he must furnish satisfactory evidence that he is making a proper use of all his time.
Vacations of Students. A student may take as his vacation any one of the four quarters; or, if he desire, two terms of six weeks in different parts of the year.
Rooms in Dormitories. (1) As soon as a sufficient number of dormitories is erected, students will be advised to make their residence in these rather than in rooms rented in private houses. Special dormitories will be provided for women. University officers will be given rooms in the dormitories, and in this way a closer intimacy encouraged, not only between students themselves, but also between instructors and students. (2) The cost of rooms in the dormitories will be from 50 cents to $3.00 a week. The occupant of a room must notify the Registrar six weeks beforehand of his intention to give up a room. (3) The occupation of a room thirty-six consecutive weeks will entitle the occupant to a reduction of 20 per cent., to be refunded at the end of the term. (4) Rooms may not be sub-rented. (5) Application for rooms should be sent to the University Registrar.
Payment of University Bills. Quarter-bills including the tuition-fee, the incidental-fee and the library-fee will be delivered at the beginning of the quarter; if not paid within two weeks of the time they are issued, the student will be liable to be prohibited from reciting. Term-bills (for six weeks) instead of quarter bills (for twelve weeks) will be issued only when the student has notified the Registrar beforehand that he will be absent after the following term. A student who, for any reason, leaves the University in the middle of a term (six weeks) shall pay the full bill for that term. A student who enters the University, intending to remain only six weeks, must indicate this purpose at the time of entrance.
General Expenses of a Student. The following table will furnish an estimate of the annual expenses for 36 weeks of a student in the University.

	LOWEST.	AVERAGE.	LIBERAL.
University bill: tuition	$105.00	$105.00	$105.00
University bill: incidentals	7.50	7.50	7.50
University bill: library	7.50	7.50	7.50
Rent and care of room	18.00	72.00	100.00
Board	125.00	175.00	225.00
Fuel and light	15.00	20.00	25.00
Washing	15.00	25.00	35.00
Text-books and stationary	10.00	20.00	50.00
Sundries	10.00	40.00	60.00
	$313.00	$472.00	$615.00

Opportunities for Self-Help. The University Steward, under the direction of the University Council, will conduct an employment bureau for the aid of students desiring to earn money to assist them in defraying their expenses while attending the University. Through this agency it is hoped that opportunity will be afforded to secure, for one hundred students, work which will yield to each the sum of at least one hundred dollars. Application may be made after May 1, 1892, to the University Steward.

Source: University of Chicago. Official Bulletin, No. 4 (April 1892), 11 pages.

Image Source: View of the University of Chicago campus from the Ferris Wheel of the World’s Columbian Exposition in 1893. University of Chicago Photographic Archive, apf2-02561 , Special Collections Research Center, University of Chicago Library

Chicago Courses Economists Undergraduate

Chicago. Monopoly course proposal by Abram Harris with George Stigler’s (Dis)approval, 1961

Post author By Irwin Collier
Post date 2017-10-01

The brutal honesty of George Stigler’s memo in response to the new undergraduate course proposal submitted by Abram Lincoln Harris at the University of Chicago is somewhat tempered by Stigler’s display of collegial tolerance for a colleague approaching retirement age. But the absolutely gratuitous zinger at the end to “advise our majors to forget it” leaves a dubious taste in this reader’s mouth.

I have included a copy of the biography of Abram Lincoln Harris from the BlackPast.org website.

Definitely worth consulting: “Introduction: The Odyssey of Abram Harris From Howard to Chicago” by William Darity, Jr. in Race, Radicalism, and Reform: Selected Papers of Abram L. Harris (1989).

______________________

Harris, Abram Lincoln, Jr. (1899-1963)
Source: Abram Lincoln Harris from BlackPast.org.

Abram Lincoln Harris, Jr., the grandson of slaves, was the first nationally recognized black economist. Harris was highly respected for his work that focused primarily on class analysis, black economic life, and labor to illustrate the structural inadequacies of race and racial ideologies. Harris’s major published works include The Negro Population in Minneapolis: A Study of Race Relations (1926), The Black Worker: the Negro and the Labor Movement (1931), and a book co-authored with Sterling D. Spero, The Negro as Capitalist (1936). His final book, Economics and Social Reform, appeared in 1958.

Harris was a Marxist scholar and its theories influenced his work. His The Black Worker was recognized as the foundation for future economic histories and assessments of the black condition. The Negro as Capitalist argued that non-racial economic reforms were the key to solving black fiscal woes. He also argued that capitalism was morally bankrupt and that employing race consciousness as a strategic way to enlighten a public was self-defeating. W.E.B. DuBois described Harris as one of the “Young Turks” who challenged the then existing historical theories about blacks in a capitalist society while insisting upon using modern social scientific methods to further his analyses of African American life.

Born in 1899 in Richmond, Virginia to parents Abram Lincoln Harris, Sr., a butcher, and Mary Lee, a teacher, Harris grew up as part of the black middle class community in Richmond. After high school Harris earned a bachelor of sciences degree from Virginia Union University in 1922.

After graduation from Virginia Union, Harris enrolled at the New York School of Social Work and worked briefly for the National Urban League (NUL) and the Messenger, the leading black Socialist newspaper. Harris taught for one year at the West Virginia Collegiate Institute (now West Virginia State University) and then earned an M.A. from the University of Pittsburgh in 1924. Harris was appointed head of the Department of Economics at Howard University in 1928 and later completed his doctorate in economics from Columbia University in 1930. Harris married his first wife, Callie McGuinn, in 1925 and later divorced in 1955. Harris married his second wife Phedorah Prescott in 1962.

In the 1940s Abram Harris, along with E. Franklin Frazier, Allison Davis, and Ralph Bunche, was selected by the Swedish economist Gunnar Myrdal as “insiders” to work on his groundbreaking study An American Dilemma which was published in 1944. Toward the end of the 1940s Harris began to retreat from his earlier work, progressive and race politics, and began to concentrate on economic philosophy.

Abram Harris died in Chicago, Illinois on November 16, 1963. He was 64.

Sources:
Jonathon Scott Holloway, Confronting the Veil, Abram Harris Jr., E. Franklin Frazier, and Ralph Bunche, 1919-1941 (Chapel Hill: The University of North Carolina Press, 2002); William Banks, Black Intellectuals: Race and Responsibility in American Life (W.W. Norton: New York, 1996); Cook County, Illinois Death Index.

Contributor:

i, w. gabriel selassie

Los Angeles City College

______________________

[Memo: Abram Harris to Al Rees]

THE UNIVERSITY OF CHICAGO
CHICAGO 37, ILLINOIS
DEPARTMENT OF PHILOSOPHY

Faculty Exchange
Box 84
Oct 26^th, 1961

Dear Al,

I am enclosing a preliminary statement of a course approved by the Policy Committee of the College Social Science Section. It is to be given in the Spring Quarter 1961-62. I wonder if the Department of Economics would want to include this course in its undergraduate offerings?

Sincerely,

[signed]
Abe Harris

Professor Al Reese[sic]
Chairman
Dept of Ec.
Univ. of Chicago

______________________

Countervailing Power, Monopoly, and Public Policy

A proposed 200 course in the College
Submitted by Abram L. Harris

The course will attempt to combine theoretical analysis in a survey of the ideas of some leading economists who have dealt with the problem of market imperfections and monopoly along with discussions of the early trust movement, federal anti-monopoly legislation, and some of the problems connected with the current administration of this legislation. Galbraith’s “Countervailing Power” has been selected as a stimulating point of departure.

A technical mastery of theoretical economics is not a prerequisite. One main purpose of the course is to stimulate undergraduate interest in theoretical economics, the history of economic ideas, and the relation of these ideas to current economic policy issues. The course should be open to beginning majors in economics, students who are undecided about a major in the social sciences, and to those who are just curious.

Class discussions are to be organized around the following topics: The Concept of “Countervailing Power”: Old wine in new bottles? Chamberlain on the use and derivation of the concept. Market imperfections and monopoly in some classical and neo-classical writings: Adam Smith, John Stuart Mill, and Alfred Marshall. The trust movement in the late 19^th century and early 20^th century in the United States (John Bates Clarke and his student, Thorstein Veblen, on monopoly and “absentee ownership”). The Standard Oil and U. S. Steel cases and federal anti-trust legislation. Recent anti-trust cases: administrative interpretation and application of federal legislation. Marx’s thesis concerning industrial concentration and confirmation of it by the new liberalism of the 20^th century. The extent and measurement of industrial concentration (Stigler, Nutter, Adelman, Adams, Wilcox, etc.). The ideal or goal of government (federal) policy and practice: monopoly or competition?

A term essay will be required of all students who take the course for credit. The essay may take the form of a review, e.g., Berle’s Twentieth Century Capitalist Revolution, Mason’s The Corporation in Modern Society, Chamberlain’s Labor Union Monopoly or may deal with some topic, relevant to the course, selected by the student in consultation with the instructor.

P.S. The content of the course may appear be heavy and, probably, cannot be entirely covered in a single quarter. The layout will have, no doubt, to be tailored as we proceed to give the course for the first time.

October 1961.

______________________

[Memo Al Reese to George Stigler]

THE UNIVERSITY OF CHICAGO
DATE: Oct. 31 [1961]

TO: George Stigler

FROM: Al Rees

IN RE: Proposed Course by Abe Harris

What is your reaction? Please return his note and proposal when you have finished with them.

[signed]
Al

______________________

[Carbon copy of Stigler response]

[DATE:] 11/1/61

[TO:] Al Rees, Chairman [DEPARTMENT:] Economics

[FROM:] George J. Stigler

[IN RE:] propose 200 level course in the College by Abram L. Harris

Dear Al:

This new course of Abe Harris arouses no enthusiasm on my part. It sounds like a protracted bull session, in which large ideas are neither carefully analysed nor empirically tested.

Even if this is a correct prediction, it leaves open the question of our listing it. Abe is a nice guy, only about 3 years from retirement, and it serves no good purpose to hurt his feelings. My own inclination would be (1) to list it, with explicit proviso that it is only for as long as he teaches it, and (2) advise our majors to forget it.

Source: University of Chicago Archives. George Stigler Papers, Box 3, Folder “U of C, Miscellaneous [red folder]”

Image Source: Abram Lincoln Harris from BlackPast.org.

Tags HarrisAL, Rees, Stigler

Barnard Berkeley Economists Gender Harvard Radcliffe

Harvard. Nine Radcliffe graduate students petition to attend “Economics Seminary”, 1926

Post author By Irwin Collier
Post date 2017-09-30

Harvard’s Economic Seminary was a men-only affair going into the mid-1920’s. Before the beginning of the second semester of the 1925-26 academic year, a group of nine Radcliffe graduate students respectfully petitioned Allyn Young, the chairman of the Harvard Economics Department, to allow them “the privilege of regular attendance at the seminary”. Four of those women went on to earn Ph.D.’s in economics or economic history, three of them had substantial academic careers (Harvard, Berkeley and Pomona). At least one of the others had a full career as a government economist.

Besides transcribing this priceless artifact for the chronicle of women in economics, I have conducted a preliminary sweep of internet sources, including genealogical resources available at ancestry.com to construct partial timelines for this gang of nine. I have even come up with pictures of all nine of them!

__________________________________

The Petition

January 21, 1926

To
Professor Allyn A. Young
Chairman of the Economics Department
Harvard University
Cambridge, Mass

The undersigned Radcliffe graduate students who are doing work in Economics at Harvard, would like permission to attend the weekly seminary in Economics. On two occasions they have been invited to be present at special meetings. They found the lectures stimulating and informative and are inclined to feel that the customary exclusion of Radcliffe students from these meetings puts them at some disadvantage. They must forego the opportunity of hearing both the informal lectures of experts in the various fields of Economics, and the results of the research of their fellow students. They also miss an invaluable chance for discussion less formal than that of the classroom.

Therefore, they petition the Economics Department for the privilege of regular attendance at the seminary.

[Signed]

Elizabeth L. Waterman
Mary C. Coit
Emily H. Huntington
Margaret R. Gay
Eunice S. Coyle
Miriam Keeler
M. Gertrude Brown
R. Guppy
A. Gilchrist

Source: Harvard University Archives. Department of Economics, Correspondence and Papers (1902-1950). Box 25; Folder: “Economics Seminary 1925-33”.

__________________________________

Elizabeth Lane Waterman
(1903-1973)

1903. Born September 24 in Boston to Arthur J. Waterman from England and Amy H. Lane of Boston.

1924. A.B. (honors in economics and sociology, Phi Beta Kappa) from Barnard College.

1925. A.M. from Radcliffe College.

1926-28. Received an Augustus Anson Whitney and Benjamin White Whitney Fellowship to study at the London School of Economics.

1928-29. Instructor at Wellesey College.

1929. Ph.D., Radcliffe College. Thesis title: Standard of Living of Eighteenth Century English Labor, 1700-1790.

1930. Married Glennon Gilboy (Professor of Engineering at MIT 1925-1937) April 19.

1929-30. Executive secretary of the Harvard Committee on Research in the Social Sciences.

1934. Wages in Eighteenth Century England. Cambridge MA: Harvard University Press.

1930-41. Executive Secretary of the Harvard Committee on Research in the Social Sciences.

1940. Applicants for Work Relief: A Study of Massachusetts Families under the FERA and WPA. Cambridge MA: Harvard University Press.

In World War II she served as economist for the Office of Strategic Services in Washington.

After the war she returned to Harvard as associate director of the Harvard economic research project, graduate school consultant and economics lecturer.

1953. Divorced in November.

1960-64. Consultant to the U.S. Bureau of Labor Statistics.

1961. Secretary-General of the International Conference on Input-Output Techniques in Geneva.

1968. Publishes A Primer on the Economics of Consumption (New York: Random House).

1973. Died October 10 in Waltham, Massachusetts.

Sources: A Biographical Dictionary of Women Economists, ed. by Robert W. Dimand, Mary Ann Dimand and Evelyn L. Forget. Also, see her obituary published in The Boston Globe, October 12, 1973. Thanks to Hendrika Vande Kemp for correcting an error and for pointing to omissions in the original post.

Image Source: Barnard College, Mortarboard 1925, p. 62.

__________________________________

Mary Chandler Coit
(1895-1984)

1895. Born May 7 in Winchester, Massachusetts to Robert Coit and Eliza Atwood.

1917. Received A.B. with Distinction in Economics from Radcliffe College.

1920. Living with parents in Winchester, Massachusetts working as a secretary at a college.

1925. Received A.M. from Radcliffe College.

1930. Married Oscar Hatch Hawley March 11 in Ames, Iowa. In the 1930 census his occupation is listed as college music instructor (in the 1930 Iowa State College yearbook he is the conductor of the Iowa State Band) and hers as college instructor.

1939. Oscar Hatch Hawley died June 29 in Bolton Massachusetts.

1940. Census lists her as a widow farmer living in Worcester, Massachusetts with two sons, 8 and 6 years of age.

1984. Died 17 July in Lawrence, Massachusetts.

Sources: From genealogical data found at ancestry.com. The Iowa State College yearbook, Bomb, 1930.

Image Source: Radcliffe Yearbook, 1917, p. 34.

__________________________________

Emily Harriet Huntington
(1895-1982)

1895. Born October 22 in Sacramento, California to Dr. Thomas W. Huntington and Harriet Olive Pearson.

1917. A.B. awarded from University of California.

Worked on a cost of living study at the U. S. Bureau of Labor Statistics.

Attended graduate department of Bryn Mawr College.

Attended London School of Economics.

1924. A.M. awarded by Radcliffe College.

1926-7. Instructor in Economics at Simmons College in Boston.

1928. Ph.D. from Radcliffe College. Thesis Cyclical Fluctuations in the Cotton Manufacturing Industry.

1928. Returns to the University of California at the rank of instructor at the faculty of economics.

1930. Appointment to assistant professor

1937. Promotion to associate professor

1944. Promotion to professor.

1961. Retirement.

1982. Died April 20 in Berkeley, California.

Source: University of California, Bancroft Library/Berkeley. Regional Oral History Office. Emily H. Huntington: A Career in Consumer Economics and Social Insurance. Interview conducted by Alice Greene King. 1971. From genealogical data found at ancestry.com.

Image Source: 1921 passport photo.

__________________________________

Margaret Fitz Randolph Gay
(1901-1989)

1901. Born December 17 in Toledo Ohio to Edwin Francis Gay and Louise Fitz Randolph

1922. A. B. awarded by Radcliffe College. Phi Beta Kappa with distinction in history.

1923. A. M. Radcliffe College.

1928-29. $1,200 Augustus Anson Whitney and Benjamin White Whitney Fellowship to study abroad.

1931-36. Tutor in history and economics at Radcliffe.

1936-41. Assistant professor of history at Scripps College, Claremont, CA

1939. Married Godfrey Davies, member of the research staff of the Huntington Library and editor of its Quarterly.

1942-45. Analyst for Douglas Aircraft Co.

1948-1967. Instructor through professor ranks at Pomona College in Claremont.

1952. Ph. D. in History. Presumably thesis published as The Enforcement of English Apprenticeship: A Study in Applied Mercantilism, 1563-1642 (Harvard Economic Studies 97, Harvard University Press, 1956).

1967. Retirement.

1989. Died August 3 in Santa Barbara, CA.

Sources: Radcliffe College Annual Reports. John H. Gleason’s In Memorium: Margaret Gay Davies (1901-89). From genealogical data found at ancestry.com.

Image Source: John Simon Guggenheim Memorial Foundation. Margaret G. Davies awarded fellowship 1961

__________________________________

Eunice Shipton Coyle
(1895-1982)

1895. Born October 3 in Boston to James Michael and Agnes M. Eisner.

1918. A.B. Radcliffe College.

1926. A.M. Radcliffe College.

1936. Census Bureau

1940. According to the Census her occupation listed as research worker at the Department of the Treasury.

1982. Died December 29 in Emmitsburg, Maryland.

Source: From genealogical data found at ancestry.com.

Image Source: Radcliffe Yearbook 1918, p. 35 .

__________________________________

Miriam Keeler
(1897-1998)

1897.Born September 30, 1897 in Malden Massachusetts to Charles H. Keeler and Susan R. Fisher.

1920. A. B. Magna cum laude from Mount Holyoke. Phi Beta Kappa.

1926. A.M. in economics from Radcliffe College.

1927. Married Samuel E. Cornelius. (died in 1965).

1929-1936. National Child Labor Committee of New York.

1938. Move to Washington area. Worked at Labor Department, editor of the monthly magazine The Child. issued by the Children’s Bureau.

1957. Wrote pamphlet “What Social Security means to Women”

1960. Retirement.

1998. Died November 12 in Sandy Spring, Maryland.

Source: Obituary “Miriam Keeler, Economist” in Washington Post, Dec. 3, 1993, B10. From genealogical data found at ancestry.com.

Image Source: Mt. Holyoke Yearbook, Llamarada, 1920, p. 194.

__________________________________

Gertrude Brown
(1903-1989)

1903. Born Mary Gertrude Brown on February 26 in Carre, Vermont to Joseph E. Brown and Dora Ellen Reagan.

1924. A. B. Mount Holyoke College. (Mary E. Wooley Fellowship)

1926. A. M. in economics. Radcliffe College.

1926. Assistant in the Department of Economics and Statistics, M.I.T.

1927. Married Elmer J. Working (Harvard economics Ph.D.) June 11 in Somerville, Massachusetts.

1928. Residence in St. Paul, Minnesota. Husband employed as associate professor in the College of Agriculture.

1932. Ph.D. in Economic History at Radcliffe College. “The History of Silk Culture in the North American Colonies.”

1930. Residence in Washington, D.C. Husband employed as a government economist.

1935. Residence in Washington, D.C.

1940. Living in Urbana, Illinois. Husband professor at the University of Illinois.

1989. Died January 9 in Denver Colorado.

Source: From genealogical data found at ancestry.com.

Image Source: Mt. Holyoke Yearbook, Llamarada, 1924, p. 68.

__________________________________

Ruth Guppy
(1899-1991)

1899. Born June 11 in Marblehead, MA to George Guppy (architect, born in New York City) and Florence R. Gray (born in Chelsea, MA).

1926. A.M., Radcliffe College.

1930. According to Census, Ruth Guppy was single, living in Brooklyn and working as an economic researcher for a bank.

1930. Married Lawrence G. Ropes in 1930.

1940. Residence in Beverly, Massachusetts. Husband’s occupation listed as hydraulic engineer.

1991. Died Jan 7. Last residence Short Hills, New Jersey.

Source: From genealogical data found at ancestry.com.

* * * * * * *

Lynne Ranieri, a former neighbor of Ruth Guppy Ropes, came across this page in Economics in the Rear-view Mirror during the course of her research on her former neighbor. Ms. Ranieri graciously provided me the image of Ruth Guppy, age ca. 15 years and wrote me via Facebook:

At the end of her life my neighbor, Ruth Guppy Ropes lived with her brother here in NJ and when he moved to MA to be with his son (by which time Ruth had died), I attended his estate sale and bought some artifacts of their lives, including photos of Ruth. I saw your blog post had photos of some of the Radcliffe petitioners, but none of Ruth. In the event you would like to add her to your archives, I have attached here one of my favorite photos of her at her desk. The photo is dated 1914 and as Ruth was born in 1899, I would assume this was when she was in high school. If it is too small to see, I can email you a larger version. I have also attached here a photo of an obviously-older Ruth [see below]. FYI, it seems she married Mr. Ropes in 1930 and I have not yet found any evidence of her having returned to her work in economics…
I am happy to see Ruth get a bit more recognition for her accomplishments. She was much older than I am and I didn’t have much time to get to know her well, but in the little time I spent with her it was clear she was a bright, gentle woman.

__________________________________

Anna True Gilchrist
(1882-??)

1882. Born January 17 in Arlington, Massachusetts to George E. Gilchrist (born in Canada) and Annie J. Warren.

1900. Pupil at Northfield Seminary in Northfield, Massachusetts.

1901-02. Lived in Europe.

1910. Residence in Melrose, Massachusetts with parents.

1906. A. B. Boston University. Member Delta Delta Delta and Phi Beta Kappa.

1920. Listed in the Simmons College yearbook Microcosm as a graduate student.

1922. Passport renewal application for travel to England, Egypt, Palestine, Greece, France, Italy and Switzerland with scheduled departure on the Lapland (President Wilson) on January 18, 1923. Her occupation is listed as social worker, residing in Melrose.

1926. A.M., Radcliffe College.

1940. Residence at 110 Sewall Ave. in Brookline, MA.

Source: From genealogical data found at ancestry.com.

Tags BrownMG, Coit, Coyle, GayMR, Gilboy, Gilchrist, Guppy, Huntington, Keeler, Waterman, Young

Exam Questions Harvard Suggested Reading Syllabus

Harvard. Galbraith’s Business Organization and Control. Syllabus and Exams. 1949-50

Post author By Irwin Collier
Post date 2017-09-28

Materials for the undergraduate course “Business Organization and Control” taught by Sidney Alexander in 1948-49 has been transcribed and posted earlier. The course was taught the following year by John Kenneth Galbraith and others. Below you will find enrollment data followed by transcriptions of the syllabi for both semesters along with the mid-year and final examinations for the course.

_______________________

Course Enrollment

[Economics] 161 (formerly Economics 61a and 62b). Business Organization and Control. (Full Co.) Dr. Galbraith

(F) Total 179: 2 Graduates, 61 Seniors, 75 Juniors, 32 Sophomores, 1 Freshman, 8 Radcliffe.
(Sp) Total 160: 2 Graduates, 56 Seniors, 70 Juniors, 24 Sophomores, 7 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College and Reports of the Departments for 1949-59, p. 73.

_______________________

[Fall Term, 1949-50]

Economics 161
Business Organization and Control
Dr. Galbraith

Date	Topic	Lecturer	Reading
Sept. 28	Preview	Galbraith	Bain, Ch. 1,2 (omitting pp. 26-41), 4, 5, 6, 8. TNEC No. 21, pp. 20-48, 113-121.
Sept. 30	Applied Theory of Markets	Galbraith
Oct. 3	“	Galbraith
Oct. 5	“	Galbraith
Oct. 7	Section
Oct. 10	Section
Oct. 12	HOLIDAY
Oct. 14	Forms of Business Enterprise	Gordon	Guthmann & Dougall, Chapter 2
Oct. 17 24	The Corporation: Origin and Legal Characteristics	Gordon	Buchanan, Ch. 3; Berle & Means, Book II, Ch. 1; Dewing, Book I, Ch. 1-2.
Oct. 19 26	“	Gordon
Oct. 21 28	Section
Oct. 24 31	Concentration & Market Organization: The Role and peration of the Large Corporation	Galbraith	Gordon, Chapters 2, 4, 5. Berle and Means, Book I, Ch. 1; Book IV, Chapters 1-4.
Oct. 26 Nov. 2	“	Galbraith
Oct. 28 Nov. 4	Section
Oct. 31 Nov. 7	Concentration & Market Organization: Holding companies and interest groups	Galbraith	Purdy, Chapter 7. Structure of the American Economy, Part I, Appendix 13
Nov. 2 Nov. 9	Concentration & Market Organization: Trade Associations	Gordon	TNEC No. 18, pp. 45-67 TNEC No. 21, pp. 234-258
Nov. 4 Nov. 11	Section

Bain, Joe S., Pricing, Distribution, and Employment, 1948.

U.S., Temporary National Economic Committee Monographs:

No. 18, Trade Association Survey;
No. 21, Competition & Monopoly in American Industry.

Guthmann, H. G., & Dougall, H. E., Corporate Financial Policy, 1948.

Buchanan, N. S., The Economics of Corporate Enterprise.

Berle, A. A., & Means, G. C., The Modern Corporation and Private Property, 1932.

Dewing, A. S., Financial Policy of Corporations, 1941, 2-volume edition.

Gordon, R. A., Business Leadership in the Large Corporation, 1945.

Purdy, H. L., Lindahl, M.L., and Carter, W. A., Corporate Concentration & Public Policy, 1942.

U.S., National Resources Committee, Structure of the American Economy, Part I, “Basic Characteristics.

_______________________

[Fall Term (cont.), 1949-50]

Economics 161
Business Organization and Control
Messrs. Galbraith and Gordon

	Topic	Lecturer	Reading
November 14	Price Leadership and Market Sharing	Gordon	Burns, Ch. III (ex. pp. 118-140), and Ch. IV.
November 16	Patents and Trademarks	Gordon	T.N.E.C. Monograph No. 21, pp. 158-165; Edwards, pp. 216-248.
November 18	Section
November 21	Advertising	Galbraith	Burns, Ch. VIII
November 23	Price Discrimination	Gordon	Boulding, pp. 533-43
November 25	Section		Boulding, pp. 533-43
November 28	Basing Point System—Exposition	Galbraith	Machlup, Ch. 1 (ex. Appendix) and Ch. 3; Kaysen, “Basing Point Pricing and Public Policy”
November 30	Basing Point System—Consequences	Kaysen
December 2	Section
December 5	Economic Norms of Public Policy	Duesenberry	Hansen, Fiscal Policy and Business Cycles, Ch. XV
December 7	“	Duesenberry	Hansen, Fiscal Policy and Business Cycles, Ch. XV
December 9	Section		Galbraith, Essay on Monopoly and Concentration of Economic Power in Ellis, Review of Contemporary Economics
December 12	Economic Norms of Public Policy	Duesenberry
December 14	Promoting Competition: The Anti Trust Laws	Gordon	Purdy et al., Chs. 16, 17, 18 (omitting pp. 354-360), 20 (omitting pp. 393-401), 28; Adelman, “Effective Competition and the Anti Trust Laws”; Mason, “The Current Status of the Monopoly Problem in the United States
December 16	Section
December 19	Promoting Competition: The Anti Trust laws
December 22	“

Adelman, M. A., “Effective Competition and the Anti Trust Laws,” M.I.T., Publications in the Social Sciences, Series No. 1, Reprint from Harvard Law Review, Sept. 1948.

Boulding, Kenneth, Economic Analysis, Revised Edition.

Burns, A. F., The Decline of Competition, 1936.

Edwards, Corwin, Maintaining Competition, 1949.

Kaysen, Carl, “Basing Point Pricing and Public Policy,” Q.J.E., August, 1949, pp. 289-314.

Machlup, Fritz, The Basing Point System, 1949.

Mason, Edward S., “The Current Status of the Monopoly Problem in the U.S.,” Harvard Law Review, June, 1949, pp. 1265-1285.

Purdy, H. L., Lindahl, M. L., and Carter, W. A., Corporate Concentration & Public Policy, 1942.

U.S., T.N.E.C. Monograph No. 21, Competition and Monopoly in American Industry, 1940.

Hansen, Alvin, Fiscal Policy and Business Cycles, 1941, First Edition.

Ellis, Howard, Review of Contemporary Economics, 1948.

_______________________

Final Examination, Fall Term 1949-50

1949-50
HARVARD UNIVERSITY
ECONOMICS 161

I.
(one hour)

Required

A book published a couple of years ago entitled The American Individual Enterprise System, has the following to say about “the meaning of competition”;

“How a seller chooses to exercise his freedom, as long as he is independent, does not furnish a test of competition. The only true test, and the basic distinguishing feature of competition, is whether there are at least two suppliers of a market who make independent decisions on the prices and conditions at which they will offer their goods and services.”

Using the word “competition” in this sense, the book’s authors stat that “competition serves the public in the following ways”:

“It tends to assure that goods and services will be produced and distributed at the lowest possible cost.
“It tends to assure that profits will be held to the minimum.
“It tends to assure that the energy and raw materials and productive capacity of the nation will be used for providing those goods and services which the public wants, and in proportion to the relative demands of the public.
“It assures freedom of opportunity. Anyone at any time, if he has the necessary capital, can enter any line of business he desires.”

Questions:

(a) Do you concur in this definition of competition? Why or why not?

(b) Would an economic system which is “competitive” in the sense of the above quotation necessarily produce the results which the authors mention? Consider in turn each of the “results” mentioned above. Be specific, and make certain that you explain each step in your reasoning.

II.
(Seventy-five minutes)

Answer any three of the five.

Give a concise, clear explanation of the mechanics of a multiple-basing point pricing using graphs if you wish.
Under what circumstances and why are business firms likely to prefer non-price to price competition? Define your terms precisely.
In what ways may it be argued that the American patent system is a stimulus and in what ways a deterrent, to invention and to realized technical progress in American industry?
What is price discrimination? Outline a set of conditions under which discriminatory pricing operates to the advantage of buyers.
State definitely but concisely the way in which each of the following cases affected the development of antitrust law.

C. Knight Case
Standard Oil Case
U. S. Steel Case
Aluminum Case

III.
(Forty-five minutes)

Required.

Schumpeter and Clark appear to agree in advocating (or condoning) certain restraints on competition. Develop fully and discuss the lines of argument by which they arrive at their respective conclusions.

Mid-Year. January 1950.

_______________________

[Spring Term, 1949-50]

Economics 161
Business Organization and Control
Professor Galbraith and Mr. Gordon

	Subject	Lecturer	Reading
Feb. 8	Promoting Competition: Cartel Policy	Gordon	Mason, Controlling World Trade, Ch. 1, 2.
Feb. 10	Promoting Competition: The Recent Antitrust Cases	Gordon	Oppenheim, Cases on Federal Antitrust Laws, Ch. 5. Nicholls, “The Tobacco Case of 1946,” American Economic Review, May 1949, pp. 284-96.
Feb. 13	Regulating Competition: Retail Trade and Regulation	Galbraith	TNEC Monograph 35, pp. 5-14, 145-160. Adelman, “The A & P Case,” Quarterly Journal of Economics, May 1949.
Feb. 15	Regulating Competition: Retail Trade and Regulation	Galbraith
Feb. 17	Section
Feb. 20	Limiting Competition: Agriculture	Galbraith	Black, Parity, Parity, Parity, Ch. 5, 20, 21. Schultz, Production and Welfare of Agriculture, Ch. 4, 5, 8, 9, 12, 13, 15.
Feb. 22	HOLIDAY
Feb. 24	Limiting Competition: Agriculture	Galbraith
Feb. 27	Limiting Competition: Agriculture	Galbraith
Mar. 1	Regulated Monopoly: The Public Utility Concept	Gordon	Lyon, Abramson et al, Government and Economic Life, Vol. II, Ch. 21.
Mar. 3	Section
Mar. 6	Regulated Monopoly: Power and Transport	Gordon
Mar. 8	Regulated Monopoly: Power and Transport	Gordon	Locklin, Economics of Transportation, Ch. VIII, XV, XVI.
Mar. 10	Section
Mar. 13	Regulated Monopoly: Power and Transport	Gordon
Mar. 15	Corporate Financial Structure	Gordon	Dewing, Financial Policy of Corporations, Bk. I, Ch. 4 to p. 83, Ch. 7, 8, 9 to p. 218, and pp. 230-42; Bk. III, Ch. 1, 2. Merrill, Lynch, How to Read a Financial Report (entire pamphlet)
Mar. 17	Section
Mar. 20	Corporate Financial Structure	Gordon
Mar. 22	Corporate Financial Structure	Gordon
Mar. 24	Section
Mar. 27	Regulation of Securities and Markets	Gordon	Stein, Government and the Investor, Ch. 2, 3, 4, 6.
Mar. 29	Regulation of Securities and Markets	Gordon	Stein, Government and the Investor, Ch. 2, 3, 4, 6.
Mar. 31	Section
Recess from April 2 through 9
Apr. 10	Conservation: Forest Products	Nixon	Jensen, Lumber and Labor, Ch. 1,2.
Apr. 12	Conservation: Oil and Gas	Manne	Rostow, A National Policy for the Oil Industry, Ch. 1-9, 13-15.
Apr. 14	Section
Apr. 17	Conservation: Oil and Gas	Manne
Apr. 19	HOLIDAY
Apr. 21	Public Development: Housing	Galbraith	Fortune Magazine: The Industry Capitalism Forgot, August 1947, & Editorial, September 1947. TNEC Monograph #8, Towards More Housing, Ch. IV, V, IX.
Apr. 24	Public Development: Housing	Galbraith
Apr. 26	Economic Mobilization	Galbraith	Galbraith, “The Disequilibrium System,” American Economic Review, 1947. Johnson, G. G., Economic Stabilization Program.
Apr. 28	Section
May 1	Economic Mobilization	Galbraith
May 3	Reconciliation of Policy	Galbraith
May 5	Summary	Galbraith
Reading Period begins May 8

Mason, Edward S., Controlling World Trade, 1946.

Oppenehim, S. C., Cases on Federal Antitrust Laws.

Nicholls, W. H., “The Tobacco Case of 1946” in American Economic Review, May 1949, pp. 284-96.

Lyon, Abramson, et al, Government and Economic Life 1940.

Dewing, Arthur S., Financial Policy of Corporations, 1941, 2-volume edition.

Merrill, Lynch, Pierce, Fenner, and Beane, How to Read a Financial Report (pamphlet).

Stein, Emanuel, Government and the Investor.

Locklin, D. Philip, Economics of Transportation, 1947.

TNEC Monograph #8, Toward More Housing.

TNEC Monograph #35, Large-Scale Organization in the Food Industries.

Adelman, M. A., “The A & P Case. A Study in Applied Economic Theory,” Quarterly Journal of Economics, Vol. LXIII, No. 2, May 1949.

Schultz, T. W., Production and Welfare of Agriculture, 1949.

Black, J. D., Parity, Parity, Parity, 1942.

Jensen, Vernon, Lumber and Labor.

Rostow, Eugene V., A National Policy for the Oil Industry, 1947.

Galbraith, J. K., “The Disequilibrium System,” American Economic Review, Vol. XXXVII, #3, June 1947.

Fortune Magazine, “The Industry Capitalism Forgot,” August 1947, “Editorial,” September 1947.

Johnson, G. G., Suggestions for the Development of an Economic Stabilization Program for a War Emergency, National Security Resources Board, Document 47.

_______________________

Economics 161
[Midterm] Examination
April, 1950

Retailing and agriculture are both industries composed of many small firms. What are the similarities in government policy toward these industries? What are the important differences?
What were the principal provisions of the Securities Exchange Act of 1934? Discuss briefly in light of the abuses they were designed to remedy.

_______________________

Spring Term, Final Examination

1949-50
HARVARD UNIVERSITY
ECONOMICS 161

I.
(Forty-five minutes)

Required

The special appeals court, which heard the Alcoa case in 1945, said that Congress, in passing the federal antitrust laws, “was not necessarily actuated by economic motives alone.” “It is possible,” the court said, “because of its indirect social or moral effect, to prefer a system of small producers, each dependent for his success upon his own skill and character, to one in which the great mass of those engaged must accept the direction of a few.”

Does this point of view seem to you to provide a persuasive argument for the fair trade laws, Robinson-Patman Act and the position of the government in the A & P cases? Explain.

II.
(Ninety minutes)

Answer three out of four.

Explain the importance of the following in relation to public regulation of the petroleum industry:
1. The rule of capture.
2. The Connally “Hot Oil” Act.
3. The Interstate Compact.
4. Marginal well Acts.
5. Compulsory unit operation.
What are the Acts of Congress administered by the Securities and Exchange Commission? Outline the principal provisions of any three of them and the ends they were designed to achieve.
Under what circumstances do you believe a certificate of convenience and necessity should be required for entry into a business? What industries would you add (or delete) from a list where such certificates are required and why?
“The pricing system is not an appropriate means for stabilizing income from farming over time. To place this burden on the pricing system, as has been done in recent years can only reduce greatly its capacity [for allocating resources between alternative employments in agriculture and between agricultural and non-agricultural enterprise].”

What is the general character of the legislation “of recent years” to which Professor Schultz refers? Do you agree that it has inhibited resource allocation? Does the same objection hold for the Brannan Plan?

III.
(Forty-five minutes)

Required.

Before signing or vetoing important legislation, the President customarily requests the Bureau of the Budget—or occasionally some other Executive department or agency—to prepare a confidential memorandum setting forth the main features of the proposed legislation, the principal groups favoring and opposing it together with their arguments and motives, a careful statement of the economic consequences of the legislation; and the recommendation to the President, properly defended, as to whether he should accept or veto the legislation.
Would you prepare such a memorandum on the amendments to the Natural Gas Act of 1938 (the Kerr Bill), as passed by the Eighty-first Congress and keeping in mind the following:
1. That you are asked to pass only on the economic questions posed by the legislation. You are at liberty to ignore any purely legal issues that may have been involved.
2. That your concern is solely with the public welfare. You may ignore any political problems which the legislation poses for the President or his party.
3. That the President is a busy man and should not be burdened with an unnecessarily long-winded discourse.

(The quality of your memorandum and its economic analysis and argument, not the particular recommendation you make, will be the guiding factor in marking your paper.)

Final. May 1950.

Source: John F. Kennedy Presidential Library, Papers of John Kenneth Galbraith. Box 519, Folder “Economics 161, 1949-50.”

Image: John Kenneth Galbraith in Harvard Class Album 1952.

Tags Galbraith

Curriculum Harvard

Harvard. Economics Education of Theodore Roosevelt, 1878-80

Post author By Irwin Collier
Post date 2017-09-26

The founding head of the University of Chicago’s Department of Political Economy, James Laurence Laughlin, was originally trained at Harvard where he taught for five years. He moved on to Cornell for two years before going to Chicago. During Laughlin’s early years at Harvard, one of his economics students was Theodore Roosevelt (Harvard Class of 1880, better known as the 26^th President of the United States of America). Roosevelt was eight years younger than Laughlin and died in 1919. Five years later Laughlin published an essay on “Roosevelt at Harvard”. An original typed draft of the essay can be found in his papers at the Library of Congress. While Laughlin spends much of the essay going through Roosevelt’s transcript with interesting comments and observations on Harvard personalities of the late 1870’s, I have only included those parts that deal with the economic education of the future President.

I have not yet compared this draft to the published version, but I have corrected obvious typing errors and inserted some material from what appears to be an earlier draft of page 9 of the typed manuscript.

________________________________

From “Roosevelt’s College Days”
by James Laurence Laughlin

…As a freshman Roosevelt entered the university in 1876 just as a new régime inaugurated by President Eliot had got fairly into working order. The new captain had already introduced the elective system and had enlisted some forward-looking members of his faculty such as C. C. Langdell, Charles F. Dunbar, and Henry Adams. The potentialities of this situation are so interesting that one might be tempted to linger too long on them. They involved epoch-making changes for the nation in education for law, economics, and history. The appointment of Dean Langdell in the Law School brought in the case-system, revolutionized the teaching of law throughout the country, and attracted the attention of foreign jurists. With the creation of the first professorship in economics at Harvard for Dunbar in 1871 there then began the modern teaching in economics which has had so remarkable a development for the last thirty years in all the universities of the country. While Gurney and Torrey were princes of the blood in History, Henry Adams came as the paladin of new adventure. He had the dash and spirit of the crusader. He held the first seminar for research in history in this country. He tied up American history not only with British institutions but also with those of our Teutonic forebears. Such men as these added a new touch to the temple of learning by which Harvard had already won distinction an on which she is till receiving credit….

…For the first time [Roosevelt’s] mind turned from the languages and natural history to those of public interest with which his future was to be so much occupied [during his junior year, 1878-79]. He selected a course in Political Economy then known as Philosophy 6. Although Professor Dunbar had been appointed in 1871, there was no separate department of Political Economy until 1879-80. Previously economics had been briefly taught by Francis Bowen, the professor of philosophy, and for a time the new subject found shelter in his department. Roosevelt’s first introduction to that field was announced in the catalogue as: “Political Economy. –J. S. Mill’s Political Economy.—Financial Legislation of the United States. Prof. Dunbar and Dr. Laughlin.” Professor Dunbar gave lectures on the public finance of the Civil War in which he was a master. To me fell the duty of conducting recitation and discussions on Mill’s original two-volume treatise. [Laughlin’s own Abridged version of Mill’s Principles] Inasmuch as the work was exacting, Roosevelt’s mark for the year of 89 was high.…

[In his senior year, 1879-80…] In Political Economy he studied with Professor Dunbar Cairnes’s Leading Principles of Political Economy, McLeod’s Elements of Banking, and Bastiat’s Harmonies Économiques in which he got 78.

During his junior year, in order to widen the interest of my students in applying economics to public questions, I suggested to a group of them the advantage of forming a Finance Club for the purpose of inviting outside economists to speak at the university. Besides Roosevelt there were George Hoadley, J. G.Thorp, A. B. Hart, F. J. Ranlett, W. H. Rhett, Josiah Quincy and Charles G. Washburn. The plan evidently appealed to Roosevelt, for he writes to his sister in the autumn of 1878 as follows:

‘I have begun studying fairly hard now, and shall keep it up until Christmas. I am afraid I shall not be able to come home for Thanksgiving; I really have my hands full, especially now that my Political Economy Professor wishes me to start a Finance Club, which would be very interesting indeed, and would do us all a great deal would of good, but which will also take up a great deal of time”.

The President of the club was J. G. Thorp (of 1879) and the Secretary was A. B. Hart. The meetings were held in the rooms of the department on the first floor of University Hall, on the window sills of which along side the wide front steps was placed the “shingle” of the club as a means of announcing a meeting to members. That “shingle” is now hanging on the wall of Professor Hart’s office in the Widener Library.

The lecturers invited by the club stirred up a wide interest in economics. Few of us had known William G. Sumner personally. The vigor of his writing had given us the impression of a very austere personality. At Yale a student who had been invited to supper with Sumner’s family came bursting into his chum’s room late on a wintry night, shouting: “Fellows, Billy Sumner is kind to his family.” Any such impression was dispelled by a very interesting lecture [on “The Relation of Legislation to Money”] marked by Sumner’s usual felicity of style. It was a pleasure, also, to come into contact with the unusually agreeable personality of Gen. Francis A. Walker, another lecturer [on “The Principles of Taxation”]. His experience in the army with Hancock, his administrative ability, his work on the census, and his suggestive economic mind created a desire to know him. Likewise, in the case of Edward Atkinson we came to know an active business man who without academic training had attempted to formulate economic theory. [He had a genius for lucid exposition, so that his lectures on “American Competition with Europe”, “Capital and Labor”, “Railways”, and “The National Banking System”, attracted many students. Later, the one lecture which stirred up the most permanent interest was that by Col. T. W. Higginson on “Young Men in Politics”, which led to the formation of a Harvard Union after the example of the one at Oxford. Another result of the new interest in economics was the action of the university authorities in bringing Hugh McCulloch and Simon Newcomb each to give a course of three lectures.]

[Of especial value was the writing and discussion of papers by the members themselves. Early in the first year five papers had been read. In February, 1879, one of them was by Robert Bacon and Theodore Roosevelt on “Taxation.”]

There was an interesting meeting of the Finance Club on the occasion of the presence of Henry George. I can recall the small group of members gathered in University Hall to whom George spoke informally. After his talk there was a general discussion, in which the students freely exchanged arguments with the speaker. They had had a fairly good grind in the fundamental principles of economics. As a consequence, George did not show to advantage in the give-and-take. It is an interesting coincidence that only seven years after (in 1886) Theodore Roosevelt was the Republican candidate for Mayor of new York city against Henry George, the Labor candidate, and Abram S. Hewitt, the candidate of the United Democracy.

There was a reason why George did not fare well in this discussion. It is a curious fact that George’s system was almost always regarded as a problem in taxation, and in the discussion of it attention was only directed to the matter of so taxing land value that there would be no object in holding land in private property ownership. Strangely enough, the course of the arguments by which he reached this conclusion, the very supports on which his system of taxation rested, were generally disregarded, or what is more likely were little understood. To this day there is no adequate study of the logic of “Progress and Poverty”. It does not seem to be realized that his plan of taxation depended on the dictum that payment of rent was a subtraction from wages, and that abolition of rent for land would remove the existence of low wages and wipe out poverty. Such an outcome was reached only by granting as proved that payment of interest on capital could be eliminated. This part of this theorizing was extremely weak. if his reasoning was wrong, his system of taxation had no supports.

In the copy of the first edition of “Progress and Poverty” [Link to Fourth Edition, 1881] now lying on my table, I find a request for a review of it from the editor of the International Review as follows:

Jan. 11., 1880

“My dear Laughlin:

About 2pp. on this book, please. I should suppose from glancing at it that it was rubbish. But there may be ideas in it.

Truly yrs.

H.C-Lodge.”

Senator Lodge had ceased to be an instructor in history after 1878-79, and when Roosevelt was a senior he had become editor of the International Review….

…In his junior year I had an interesting conference with [Roosevelt]. He came to me to discuss whether it would be better for him to specialize on natural history or to take more economics. He gave no indication that he was thinking of a public career. My advice was that the country at that time especially needed men trained to think correctly on public questions and that these questions were nine-tenths economic. I can no say, of course, that my advice influenced him, but he did continue his economics in his senior year. Nor could one say that in after life he always thought correctly on economics. in public office, in order to get things done, it is too often supposed that economic considerations must be sacrificed to political expediency. Yet he did not forget his college courses in economics. After he had left the presidency and was contributing editor on the Outlook, when I was in charge of the campaign of education for the passage of the Federal Reserve Act, I had an interview with him in order to secure his support of the measure. On sending in my card, he appeared at the other end of the open floor entirely covered with desks, holding up my card at arm’s length, and shouting: “Where’s the fellow that taught me Political Economy”. In conference, after explaining the measure and asking him for advice how to proceed, he said “Have it associated as little as possible with Aldrich’s name. Have it come up from the small bankers of Florida or Oregon.” Then, as we finished, he added: “I will do all I can to help you. I wish I could do more. I could make a speech on the free coinage of silver; but when you get me into compound differentials and finance”—here his voice rose into his characteristic falsetto—“I am all up in the air.” To which I replied “That does not speak well for your teaching at the university”. “On the contrary, Mr. Laughlin, patting me cordially on the knee, “that was the best course I had at the university”. It was a bit of kindly good fellowship…

Source: Library of Congress, The Papers of James Laurence Laughlin. Box 7, Folder “Roosevelt at Harvard Oct/24” published as J. L. Laughlin, “Roosevelt’s College Days,” American Review of Reviews, October, 1924.

Image Source: Library of Congress, The Papers of James Laurence Laughlin. Box 7, Folder “Roosevelt at Harvard Oct/24”.

Tags Dunbar, GeorgeH, Laughlin

Harvard Crimson Report

Course Announcement

For Undergraduates and Graduates

Economics 101a—Economic Theory Fall term, 1951-52

I. The Problems of Economics

II. The Classical System

III. General Equilibrium Theory

Economics 101, Spring Term 1951-52 Reading List

I. The Keynesian System

II. Dynamics

Henry Parker Willis Biographical Note

The double life of H. Parker Willis

FACULTY OF POLITICAL SCIENCE Memorial minute for Prof. H. Parker Willis April 22, 1938

H. Parker Willis

Milton Friedman’s student notes to Harold Hotelling’s first lecture in Mathematical Economics (1933)

Links to Works Referred to by Hotelling

Course Announcement

Graduate Courses

UNIVERSITY OF CALIFORNIA Department of Economics Spring, 1959

Reading List Economics 200B

It is suggested that students purchase the following works:

I. The Pricing of Productive Services and the Distribution of Income

II. Macro-statics: National Income and Aggregate Demand

III. Consumer Behavior, the Consumption Function and Income Levels

IV. Business Behavior, the Level of Investment and the Rate of Interest

V. Macro-static Models

VI. Macro-dynamics and Economic Growth

VII. Inflation

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS EXAMINATIONS FOR THE DEGREE OF PH.D. 1917-18

THE UNIVERSITY OF CHICAGO. CHICAGO, ILLINOIS.

OFFICIAL BULLETIN, NO. 4. APRIL, 1892.

THE GRADUATE SCHOOLS OF THE UNIVERSITY.

CONTENTS.

I. THE SCHOOLS AND THEIR ORGANIZATION.

II. ADMISSION TO THE GRADUATE SCHOOLS.

III. CANDIDATES FOR A DEGREE.

IV. REGULATIONS FOR THE SELECTION OF COURSES.

V. NON-RESIDENT WORK.

VI. UNIVERSITY FELLOWS.

VII. UNIVERSITY DOCENTS.

VIII. THESES AND EXAMINATIONS.

IX. DEPARTMENTAL JOURNALS AND PUBLICATIONS.

X. SPECIAL REGULATIONS FOR THE GRADUATE SCHOOLS.

Harris, Abram Lincoln, Jr. (1899-1963) Source: Abram Lincoln Harris from BlackPast.org.

[Memo: Abram Harris to Al Rees]

THE UNIVERSITY OF CHICAGO CHICAGO 37, ILLINOIS DEPARTMENT OF PHILOSOPHY

Countervailing Power, Monopoly, and Public Policy

A proposed 200 course in the College Submitted by Abram L. Harris

[Memo Al Reese to George Stigler]

THE UNIVERSITY OF CHICAGO DATE: Oct. 31 [1961]

[Carbon copy of Stigler response]

The Petition

Elizabeth Lane Waterman (1903-1973)

Mary Chandler Coit (1895-1984)

Emily Harriet Huntington (1895-1982)

Margaret Fitz Randolph Gay (1901-1989)

Eunice Shipton Coyle (1895-1982)

Miriam Keeler (1897-1998)

Gertrude Brown (1903-1989)

Ruth Guppy (1899-1991)

Anna True Gilchrist (1882-??)

Course Enrollment

[Fall Term, 1949-50]

Economics 161 Business Organization and Control Dr. Galbraith

[Fall Term (cont.), 1949-50]

Economics 161 Business Organization and Control Messrs. Galbraith and Gordon

Final Examination, Fall Term 1949-50

1949-50 HARVARD UNIVERSITY ECONOMICS 161

[Spring Term, 1949-50]

Economics 161 Business Organization and Control Professor Galbraith and Mr. Gordon

Economics 161 [Midterm] Examination April, 1950

Spring Term, Final Examination

1949-50 HARVARD UNIVERSITY ECONOMICS 161

I. (Forty-five minutes)

II. (Ninety minutes)

III. (Forty-five minutes)

From “Roosevelt’s College Days” by James Laurence Laughlin

Economics 101a—Economic Theory
Fall term, 1951-52

Economics 101, Spring Term 1951-52
Reading List

Henry Parker Willis
Biographical Note

FACULTY OF POLITICAL SCIENCE
Memorial minute for Prof. H. Parker Willis
April 22, 1938

UNIVERSITY OF CALIFORNIA
Department of Economics
Spring, 1959

Reading List
Economics 200B

DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS
EXAMINATIONS FOR THE DEGREE OF PH.D.
1917-18

THE
UNIVERSITY OF CHICAGO.
CHICAGO, ILLINOIS.

OFFICIAL BULLETIN, NO. 4.
APRIL, 1892.

Harris, Abram Lincoln, Jr. (1899-1963)
Source: Abram Lincoln Harris from BlackPast.org.

THE UNIVERSITY OF CHICAGO
CHICAGO 37, ILLINOIS
DEPARTMENT OF PHILOSOPHY

A proposed 200 course in the College
Submitted by Abram L. Harris

THE UNIVERSITY OF CHICAGO
DATE: Oct. 31 [1961]

Elizabeth Lane Waterman
(1903-1973)

Mary Chandler Coit
(1895-1984)

Emily Harriet Huntington
(1895-1982)

Margaret Fitz Randolph Gay
(1901-1989)

Eunice Shipton Coyle
(1895-1982)

Miriam Keeler
(1897-1998)

Gertrude Brown
(1903-1989)

Ruth Guppy
(1899-1991)

Anna True Gilchrist
(1882-??)

Economics 161
Business Organization and Control
Dr. Galbraith

Economics 161
Business Organization and Control
Messrs. Galbraith and Gordon

1949-50
HARVARD UNIVERSITY
ECONOMICS 161

Economics 161
Business Organization and Control
Professor Galbraith and Mr. Gordon

Economics 161
[Midterm] Examination
April, 1950

1949-50
HARVARD UNIVERSITY
ECONOMICS 161

I.
(Forty-five minutes)

II.
(Ninety minutes)

III.
(Forty-five minutes)

From “Roosevelt’s College Days”
by James Laurence Laughlin