Categories
Berkeley Brown Carnegie Mellon Chicago Columbia Economics Programs Harvard M.I.T. Maryland Michigan Minnesota Northwestern Pennsylvania Princeton Rochester Stanford UCLA Wisconsin Yale

Northwestern. Ranking of top 18 economics departments. Robert J. Gordon, 1979-1980

Robert J. Gordon calculated his own ranking of the top 18 economics departments in the United States and provided a description of his methodology in 1981. His motivation was to sell Northwestern’s program to prospective graduate students.

In an earlier post we encounter a couple of earlier attempts at departmental rankings.

____________________________

NORTHWESTERN UNIVERSITY
COLLEGE OF ARTS AND SCIENCES

Robert J. Gordon
Professor of Economics

Department of Economics
Evanston, Illinois 60201
Telephone (312) 492-3616

May 18, 1981

Professor E. Cary Brown
Department of Economics
E52-373A
Massachusetts Institute of Technology
Cambridge, MA  02139

Dear Cary:

As you may know, for several years I have attempted to provide an independent rating of the quality of faculty at the top 20 U.S. economics departments.  I am writing to you to obtain the information needed to update the last quality ranking that I did two years ago.

Because the questionnaire form for the Boddy survey has just been distributed, you may rightly ask why an additional department ranking is necessary or desirable.  The strength of the Boddy survey is its wide coverage and large sample of respondents, but its weakness is that no information is provided to respondents to inform them accurately of the current members of the faculties of the departments on the list.  The average respondent may be several years out of date in knowing that Professor A has migrated from Department B to Department C, and in the case of many departments may have no information at all.  Also, there is no standard criterion on which to judge contributions of younger versus older faculty members, and contributions of economists in other parts of the university, e.g., business schools.

My own rating system is a complement to, not a substitute for, the Boddy survey.  As described in the attached sheet, the strengths of the system are that it includes only tenured faculty, is based on actual faculty lists, and provides a uniform treatment of economists in business schools and other outside departments.  The assignment of quality scores to individuals obviously must contain a subjective element, but is based as much as possible on objective criteria, e.g., prizes, awards, outside job offers, and citations.

I hope you will help me provide the information I need about your department.  This consists of:

    1. Your faculty list for 1981-82. If this is not yet typed, please send a list for 1980-81 and pencil in any changes that involve tenured faculty members.  Indicate any members who are on leaves of two years or more in government or administrative jobs.
    2. Just as important, please provide a list, which can be handwritten, of tenured economists in other departments (Business School, Law School, etc.) who make a significant contribution to the life of economics graduate students by (a) giving courses taken by substantial numbers of economics graduate students, (b) regularly attending seminars in economics, (c) serving on dissertation committees, etc.

Originally this rating system was used to provide information to prospective Northwestern graduate students (even though Northwestern has never ranked higher than eighth).  Now the results have taken on a life of their own, so I would appreciate any improvements in the methodology that you would like to suggest (so long as it does not involve rating non-tenured faculty members, which I think is basically impossible).

Sincerely,
[signature: Bob]
Robert J. Gordon

Enclosure

RJG/JR

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

EXPLANATION OF METHOD USED TO COMPILE
1979-80 “GORDON QUALITY SCORE”

As a partial substitute I have compiled a quality ranking for each of the top 18 departments in the United States.  In consultation with several highly regarded economists, all permanent (tenured) faculty members in the top 18 U.S. departments have been rated with a “quality score” ranging from one (low) to 10 (superman).  Then the total scores in each department of faculty members rated “6” or above have been added up.  While my score is obviously subjective, whereas the Boddy score is based on a large sample, nevertheless there are two primary advantages to my method.  (1) The ratings are current, taking account of the movements in Summer 1979 of J. Stiglitz from England to Princeton and in Summer 1978 of K. Arrow from Harvard to Stanford, R. Hall from M.I.T. to Stanford, T. Bewley from Harvard to Northwestern, and D. McFadden from Berkeley to M.I.T.  (2) The ratings are based on a great deal more information than was available to most if not all of the Boddy respondents — I obtained complete faculty listings from all 18 departments in May, 1978, and have consulted with a wide variety of individuals and other sources of information in making the individual faculty rankings.

Because many economists have expressed an interest in the methods used in establishing the ranking, a few details are included here for the record:

  1. Only tenure members are included, reflecting the risk that nontenure members may depart a department before new graduate students can benefit from them, as well as the difficulty of rating young professors who are not yet widely known or cited.
  2. Heavy weight is given to objective evidence in establishing the rankings–winners of the Nobel Prize and the A.E.A.’s John Bates Clark award are all awarded scores in the “9” or “10” category, as are several close contenders for those prizes.Another useful piece of information is the list of Fellows of the Econometric Society, perhaps the only honor in economics in which the selection is made annually by a worldwide electorate of distinguished economists.  Other honors, including selection to the NSF advisory panel and the editorial boards of leading journals, are taken into account as well.
  3. Some account is taken of recent productivity, reflecting the fact that a faculty member who is currently working on the frontier is likely to be more useful to a graduate student than an established “star” whose main achievements date back to the 1940s or 1950s. A helpful and objective guide is the comprehensive Social Science Citations Index.1/
  4. The ranking of each department is not limited to the tenure economists who happen to be on the premises with full-time appointments in the economics department.Quality scores are allocated, and a weight of one-half given, to (a) economists in closely related departments (usually business schools, but also law schools, statistics departments, and schools of public administration); (b) economists who now have a full-time job in the university administration; and (c) economists who are on a multi-year leave in Washington and who may be unavailable to graduate students for several years.

1/These criteria have offsetting biases.  For instance, young mathematical economists tend to be elected relatively easily to the Fellowship of the Econometric Society but do not tend to be cited often in the Citations Index.

The results are:

1975 Boddy Ranking

Rank Department

1979-80 Gordon Quality Score

Quality of Graduate Faculty

Effectiveness of Graduate Program

1. Harvard

179

1 (tie)

5 (tie)

2. Yale

155

4

2 (tie)

3. M.I.T.

148

1 (tie)

1

4. Princeton

141

7

5 (tie)

5. Chicago

140

1 (tie)

2 (tie)

6. Stanford

136

5 (tie)

4

7. Pennsylvania

130

8

10 (tie)

8. Northwestern

128

9 (tie)

8 (tie)

9. Berkeley

100

5 (tie)

7

10. U.C.L.A.

97

12 (tie)

14 (tie)

11. Minnesota

96

9 (tie)

8 (tie)

12. Wisconsin

90

9 (tie)

10 (tie)

13. Michigan

67

13 (tie)

10 (tie)

14. Columbia

60

13 (tie)

17

15. Maryland

57

(Below 20)

(Below 20)

16. Rochester

56

13 (tie)

13

17. Carnegie-Mellon

37

17

14 (tie)

18. Brown

33

18 (tie)

18

Source: M.I.T. Institute Archives and Special Collections. MIT. Department of Economics. Records. Box 3, Folder “Quality Rankings”.

Image Source: Robert J. Gordon at First Bank of Japan Monetary Conference, June 1983. Detail from picture with James Tobin.

 

 

Categories
Carnegie Mellon Northwestern Suggested Reading Syllabus Theory

Northwestern. Reading list for advanced price theory. Mortensen, 1966

One of the 2010 Nobel prize laureates in economics, Dale T. Mortensen, was still a year short of his Ph.D. degree from Carnegie-Mellon University when he taught advanced price theory at Northwestern University. I recently found a copy of his course reading list in the Robert Clower papers at Duke’s Economists’ Papers archive.

_________________________

NORTHWESTERN UNIVERSITY
Department of Economies

Economics D-10
Advanced Price Theory
Mr. Mortensen

Fall, 1966
MW 3-5 P. M.

TEXTS:

Cohen and Cyert: Theory of the Firm
Hicks: Value and Capital
Samuelson: Foundations of Economic Analysis
Henderson and Quandt: Microeconomic Theory

  1. Introduction: The Role of Economic Theory

Lipsey and Steiner: Economics, Chaps. 2-4

*Cohen and Cyert: Chaps. 1-4

*Henderson and Quandt: Chap. 1 and Appendix

Samuelson: Chaps. 1-3 and Mathematical App. A

Allen: Mathematical Analysis for Economists, Chaps. 8, 10, 14

Yamane: Mathematics for Economists, Chaps. 3 and 5.

  1. Theory of Consumer Behavior

Stigler: The Theory of Price, Chap. 5

*Cohen and Cyert: Chap 5

*Hicks: Chaps. 1-3 [and/or] Samuelson: Chap. 5 [and/or] Henderson and Quandt: Chap. 2, pp. 6-32

Houthakker: “The Present State of Consumption Theory,” Ec. (Oct., 1961)

Becker: “Irrational Behavior and Economic Theory,” JPE (Feb., 1962)

  1. Theory of the Firm

Leftwich, The Price System and Resource Allocation, Chaps. 7-9

*Cohen and Cyert: Chaps. 6-8

*Hicks: Chaps. 6-7 [and/or] Henderson and Quandt: Chap. 3 [and/or] Samuelson: Chap. 4

Kurz and Manne: “Capital-Labor Substitution in Metal Machinery,” AER (September, 1963)

Dhrymes and Kurz: “Technology and Scale in Electrical Generation,” Ec. (Aug., 1964)

Walters: “Production and Cost Functions: An Econometric Survey,” Ec., (1963)

  1. Market Structure

*Cohen and Cyert: Chaps. 10-13

Henderson and Quandt: Chap. 6

Joan Robinson: The Economics of Imperfect Competition

E. H. Chamberlain: The Theory of Monopolistic Competition

William Fellner: Competition Among the Few

Martin Shubik: Strategy and Market Structure

Smith: “Effect of Market Structure on Competitive Equilibrium,” QJE (1964)

  1. Economic Efficiency

*Cohen and Cyert: Chap. 14 [and/or]  Henderson and Quandt: Chap. 7

*Samuelson: Chap. 8

Bator: “The Simple Analytics of Welfare Maximization,” AER (March, 1957)

Lipsey and Lancaster: “The General Theory of Second Best,” RES (1956)

  1. Special Topics

Cohen and Cyert: Chaps. 15-17

Henderson and Quandt: Chap. 8

Baumol: Business Behavior, Value and Growth, Chaps. 6-8

Simon: “Theories of Decision Making in Economics and Behavior Sciences,” AER (June, 1956)

Modigliani: “New Developments on the Oligopoly Front,” JPE (June, 1958)

Simon: “New Developments in the Theory of the Firm,” AER (May, 1962)

Source: Duke University, David M. Rubenstein Rare Book & Manuscript Library, Economists’ Papers Archive. Robert W. Clower papers, Box 4, Folder “Econ D-10, Exams, Outline”.

Image Source: Dale Mortensen’s senior year portrait from the 1961 Willamette University yearbook.

Categories
Berkeley Brown Carnegie Institute of Technology Carnegie Mellon Chicago Columbia Cornell Duke Economics Programs Harvard Illinois Indiana Iowa Johns Hopkins Kansas M.I.T. Michigan Michigan State Minnesota North Carolina Northwestern NYU Ohio State Pennsylvania Princeton Purdue Rochester Stanford Texas UCLA UWash Vanderbilt Virginia Virginia Tech Washington University Wisconsin Yale

U.S. Economics Graduate Programs Ranked, 1957, 1964 and 1969

Recalling my active days in the rat race of academia, a cold shiver runs down my spine at the thought of departmental rankings in the hands of a Dean contemplating budgeting and merit raise pools or second-guessing departmental hiring decisions. 

But let a half-century go by and now, reborn as a historian of economics, I appreciate having the aggregated opinions of yore to constrain our interpretive structures of what mattered when to whomever. 

Research tip: sign up for a free account at archive.org to be able to borrow items still subject to copyright protection for an hour at a time. Sort of like being in the old reserve book room of your brick-and-mortar college library. This is needed if you wish to use the links for the Keniston, Carter, and Roose/Andersen publications linked in this post.

___________________________

1925 Rankings

R. M. Hughes. A Study of the Graduate Schools of America (Presented before the Association of American Colleges, January, 1925). Published by Miami University at Oxford, Ohio. (See earlier post that provides the economics ranking from the Hughes’ study)

1957 Rankings

Hayward Keniston. Graduate Study and Research in the Arts and Sciences at the University of Pennsylvania (January 1959), pp. 115-119,129.

Tables from Keniston transcribed here at Economics in the Rear-view Mirror:
https://www.irwincollier.com/economics-departments-and-university-rankings-by-chairmen-hughes-1925-and-keniston-1957/

1964 Rankings

Allan M. Cartter, An Assessment of Quality in Graduate Education Washington, D.C.: American Council on Education, 1966.

1969 Rankings

Kenneth D. Roose and Charles J. Andersen, A Rating of Graduate Programs. Washington, D.C.: American Council on Education, 1970.

Tables transcribed below.

___________________________

Graduate Programs in Economics
(1957, 1964, 1969)

Percentage of Raters Who Indicate:
Rankings “Quality of Graduate Faculty” Is:
1957 1964 1969 Institution Distiguish-
ed and strong
Good and adequate All other Insufficient Information
Nineteen institutions with scores in the 3.0 to 5.0 range, in rank order
1 1* 1* Harvard 97 – – 3
not ranked 1* 1* M.I.T. 91 – – 9
2 3* 3 Chicago 95 – – 5
3 3* 4 Yale 90 3 – 7
5* 5 5 Berkeley 86 9 – 5
7 7 6 Princeton 82 9 – 10
9 8* 7* Michigan 66 22 – 11
10 11 7* Minnesota 65 19 – 15
14 14* 7* Pennsylvania 62 22 – 15
5* 6 7* Stanford 64 25 – 11
13 8* 11 Wisconsin 63 26 – 11
4 8* 12* Columbia 50 37 – 13
11 12* 12* Northwestern 52 32 – 16
16 16 14* UCLA 41 38 – 21
not ranked 12* 14* Carnegie-Mellon Carnegie-Tech (1964) 39 35 – 26
not ranked not ranked 16 Rochester** 31 39 1 29
8 14* 17 Johns Hopkins 31 56 – 13
not ranked not ranked 18* Brown** 20 52 1 27
15 17 18* Cornell** 21 56 2 21
*Score and rank are shared with another institution.
**Institution’s 1969 score is in a higher range than ist 1964 score.

 

Ten institutions with scores in the 2.5 to 2.9 range, in alphabetical order
(1969)
Duke
Illinois
Iowa State (Ames)
Michigan State
North Carolina
Purdue
Vanderbilt
Virginia
Washington (St. Louis)
Washington (Seattle)

 

Sixteen institutions with scores in the 2.0 to 2.4 range, in alphabetical order
(1969)
Buffalo*
Claremont
Indiana
Iowa (Iowa City)
Kansas
Maryland
N.Y.U.
North Carolina State*
Ohio State
Oregon
Penn State
Pittsburgh
Rice*
Texas
Texas A&M
Virginia Polytech.*
* Not included in the 1964 survey of economics

 

Categories
Cal Tech Carnegie Mellon Chicago Economists Suggested Reading Syllabus UCLA

Carnegie-Mellon. Economics of the Firm reading list. Richard W. Roll, 1967

 

It shouldn’t come as a surprise that economists who were pack rats with respect to their professional and personal papers often provide a significant source of material from their colleagues. Martin Bronfenbrenner was one such paper hoarder. Whenever I stumble across an economist’s materials in someone else’s archival papers, I feel a disproportionate obligation to transcribe the stuff, since it is somewhat unlikely that a fellow historian of economics seeking material on economist X would search the papers of economist Y without having good cause. And so, stumbling upon the reading list for one of Richard Roll’s first Carnegie-Mellon courses in a folder of Martin Bronfenbrenner’s papers, I now add that course reading list below. 

Note: “GI” before the course number matches the course numbering for Carnegie Mellon seen in Bronfenbrenner’s papers, but 1968 is given in Roll’s own c.v. for the start of his assistant professorship there. This probably means he was initially hired as an ABD [“all-but-dissertation”] instructor and promoted upon the completion of the requirements for his Chicago Ph.D.

_____________________

Richard W. Roll

Born: October 31, 1939

1961, B.A.E. (Aerospace Engineering), Auburn University, 1961
1963, M.B.A., University of Washington
1968, Ph.D., University of Chicago

Ph.D. thesis. The Behavior of Interest Rates: An Application of the Efficient Market Model to U.S. Treasury Bills awarded the Irving Fisher Prize as best American dissertation in economics (1968).

 

1961-64 The Boeing Company, Seattle and New Orleans, Aeronautical Engineer

1968-73 Carnegie-Mellon University, Pittsburgh, Assistant and Associate Professor

1973-75 European Institute for Advance Studies in Management, Brussels, Belgium, Professor

1975-76 Centre d’Enseignement Superiéure des Affaires, Jouy-en-Josas, France, Professeur Associé

1976-2014 University of California, Los Angeles, The Anderson School
Professor of Finance, Allstate Chair, 1982-2002, Japan Alumni Chair, 2002-2011, Joel Fried Chair in Applied Finance, 2011-2014, Professor Emeritus, 2014-

1985-87 Goldman, Sachs & Co., New York, Vice-President and Director of Mortgage Securities Research

1985-2005 Roll and Ross Asset Management Corporation, Culver City, CA, Co-Chairman of the Board

1992-95 WP Capital Management, Greenwich, CT, Managing Director

2002 Visiting professor, Université de Toulouse, France

2003- Founder and Principal, Compensation Valuation, Inc.

2009-2012 Co-Founder and Research Director, Factor Advisors

2014- Linde Institute Professor of Finance, California Institute of Technology

 

1987, President, American Finance Association

Fellow, Econometric Society

Source: C.V. (July 15, 2015)

Fun fact:

At Boeing the early 1960s, Richard Roll worked on the Minuteman missile and the Saturn moon rocket.

Source: Richard W. Roll webpage (Mar 16, 2020) Caltech, Division of the Humanities and Social Sciences.

_____________________

ECONOMICS OF THE FIRM

R. Roll
GI-351
Fall, 1967

TEXT: Kalman J. Cohen and Richard M. Cyert, Theory of the Firm: Resource Allocation In a Market Economy, (1965)

A mid-term exam of 1½ hours will be given the week of Nov. 4. One-fourth of the final grade will be based on the mid-term and three-fourths on the final. Problem sets will be distributed periodically. These are intended to guide you in assessing your performance and will not usually be turned in.

Readings in the list below are divided into three categories:

  1. No preceding symbol indicates a required reading.
  2. A preceding * indicates an optional reading.
  3. A preceding $ indicates material that Ph.D. students should know.

Most of the material uses basic mathematics. The non-mathematician can be helped immeasurably by referring to R.G.D. Allen, Mathematical Analysis for Economists. Students will find that a thorough reading of J. Johnston, Econometric Methods, complements this course and will also be of aid in future courses.

*  *  *  *  *  *  *  *  *  *  *  *  *

SUPPLEMENTAL TEXTS
(books)

Armen A. Alchian and William A. Allen, University Economics, (2nd edition, 1967)

R. G. D. Allen, Mathematical Analysis for Economists, (1964)

William J. Baumol, Economic Theory and Operations Analysis, (1965)

Gregory Chow, Demand for Automobiles in the United States, (1957)

Joel Dean, Managerial Economics, (1957)

Milton Friedman, Essays in Positive Economics, (1953)

J. R. Hicks, The Theory of Wages, (1963)

J. R. Hicks, Value and Capital, (1946)

H. S. Houthakker and Lester D. Taylor, Consumer Demand in the United States, 1929-1970, (1966)

J. Johnston, Econometric Methods, (1960)

J. Johnston, Statistical Cost Analysis (1960)

Richard H. Leftwich, The Price System and Resource Allocation, (1960)

Edwin Mansfield, Managerial Economics and Operations Research, (1966)

Alfred Marshall, Principles of Economics, Ninth (Variorum ) edition, (1961)

James Quirk and Rubin Saposnik, Introduction to General Equilibrium Theory and Welfare Economics, (1968)

Paul A. Samuelson, Foundations of Economic Analysis, (1963)

Ezra Solomon, The Management of Corporate Capital, (1959)

Milton H. Spencer and Louis Siegelman, Managerial Economics, (1964)

George J. Stigler, Essays in the History of Economics, (1965)

George J. Stigler, The Theory of Price, (1967)

Leon Walras, Elements of Pure Economics, (1954)

Leonard Weiss, Case Studies in American Industry, (1967)

John Kenneth Galbraith, The New Industrial State, (1967)

 

PERIODICALS

American Economic Review, (December, 1948), (June, 1964)

American Economic Review, Papers and Proceedings, (May, 1954) (June, 1958) (May, 1961)

Journal of Business, (October, 1955) (April, 1965)

Journal of Political Economy, (April, 1954) (Feb, 1957) (August, 1958)

Quarterly Journal of Economics, (August, 1967)

*  *  *  *  *  *  *  *  *  *  *  *  *

  1. Introduction to the Economic Problem, Resource Allocation

Text, Ch. 1
*Leftwich, pp. 1-22.

  1. The Methodology of Model Building

Marshall, pp. 29-37.

Text, Ch. 2
*$ “The Methodology of Positive Economics” in Friedman
*J. Johnston, Econometric Methods, pp. 3-39. (This reading requires an elementary knowledge of probability).

  1. The Fundamentals, Supply and Demand
    1. Price determination under perfect competition.

Text, ch. 4

*Weiss, “Pure Competition and Agriculture”, pp. 19-50
*Alchian and Allen, ch. 7
$George Stigler, “Perfect Competition, Historically Contemplated”, Journal of Political Economy, (Feb., 1957), reprinted in George J. Stigler, Essays…
*An example of model building and demand analysis, Gregory Chow, Demand for Automobiles in the United States

    1. Theory of Cost and Production
      1. Alternative costs

Stigler, Theory of Price, ch. 6

*W. Lee Hansen and Burton A. Weisbrod, “Economics of the Military Draft”, Quarterly Journal of Economics, (August 1967) Mimeographed copies on reserve.

      1. Theory of Production

Text, chs. 6-8

$Marshall, pp. 337-380
*Stigler, Theory of Price, chs. 7-8
$Samuelson, Foundations, ch. IV

      1. Estimating Cost Curves

Johnston, Statistical Cost Analysis, pp. 26-73

*Joel Dean, pp. 278-347
*Johnston, Statistical…pp. 136-194
$Apel, “Marginal Cost Constancy and its Implications”, American Economic Review, December, 1948

      1. Temporal cost allocation

Alchian and Allen, chs. 13-14

    1. Theory of Consumer Demand
      1. Utility Theory

Text, pp. 65-83

$J. R. Hicks, Value and Capital, chs. I-III

      1. Estimating Demand Curves

Text, pp. 83-87

*Stigler, “The Early History of Empirical Studies of Consumer Behavior”, J.P.E., (April, 1954), reprinted in Essays in the History…
*Joel Dean, “Estimating the Price Elasticity of Demand”, in his Managerial Economics, pp. 180-191. Reprinted in Mansfield, pp. 55-65.
*E.S. Houthakker and Lester D. Taylor, pp. 5-29, ch.4 presents estimated demand curves for 84 categories of personal consumption expenditures.

  1. Monopoly and Oligopoly
    1. Theory
      1. Monopoly

Text, ch. 10, pp. 187-200
Alchian and Allen, ch. 17

*Stigler, Theory of Price, ch. 11
*Galbraith, pp. 166-218

      1. Oligopoly

Stigler, Theory of Price, chs. 12-13

*Text, ch. 12

    1. Cases of monopoly

Text, pp. 200-203
Weiss, ch. 4

*Arnold C. Harberger, “Monopoly and Resource Allocation”, American Economic Review Papers and Proceedings, (May, 1954)

    1. Pricing and Advertising
      1. *Rules of thumb — Joel Dean, pp. 427-467
      2. $Peak-Load Pricing — Jacques Dreze, “Some Postwar Contributions of French Economists”, American Economic Review, (June, 1964), pp. 8-27. This article is bound in the back of the AER, Vol. 54, part 2.
      3. Advertising

Lester G. Telser, “How Much Does It Pay Whom to Advertise”, American Economic Review, Papers and Proceedings, 1961, pp. 194-205

*Kristian S. Palda, “The Measurement of Cumulative Advertising Effects”, Journal of Business, (April, 1965)

  1. Demand and Supply of Productive Services
    1. Theory

Stigler, Theory of Price, ch. 14
Text, Ch. 13

*Marshall, pp. 381-393

    1. Capital

Stigler, Theory of Price, ch. 17
Ezra Solomon, “Measuring a Company’s Cost of Capital”, Journal of Business, (October, 1955) reprinted in The Management of Corporate Capital, Ezra Solomon, ed.

$ Jack Hirshleifer, “On the Theory of Optimal Investment Decision,” Journal of Political Economy, (August, 1958) reprinted in Solomon
$Fraco Modigliani and Merton H. Miller, “The Cost of Capital, Corporation Finance and the Theory of Investment”, American Economic Review, (June, 1958) reprinted in Solomon

    1. Labor

Alchian and Allen, ch. 20

*Weiss, ch. 6
$Hicks, Theory of Wages, ch. I-III
*Alchian and Allen, ch. 21

  1. General Equilibrium, Welfare Economics and Government Participation in the Market Place

Baumol, ch. 13
Alchian and Allen, ch. 24
*Text, chs. 9, 14
$Walras, pp. 153-172
$Quirk and Saposnik, ch. 2
*Weiss, Ch. 3

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Papers of Martin Bronfenbrenner. Box 25, Folder “Micro-econ and Distribution 1 of 2, 1966-1971, n.d.”.

Image Source: Richard Roll in the Auburn University Yearbook, 1960 Glomerata, p. 134