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Columbia Regulations

Columbia. Economics Graduate Student’s Guide, 1957-58

 

The process of awarding a Ph.D. in economics is governed by rules, so every so often I add a program’s rule-book here. The following excerpt from the Graduate Student’s Guide even provides a bit of motivation and interpretation of the rules for economics graduate students at Columbia University in the mid 1950s.

Recently an exam for Gary Becker’s 1965 micro-theory course (already one of the most visited pages in the Economics in the Rear-view Mirror collection) revealed that either the rule for making no-allowance in exams for non-native English speakers  was suspended by 1965 or Gary Becker disregarded the rule, allowing non-native speakers extra time for their written examinations.

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Excerpt from Columbia University’s The Graduate Student’s Guide

ECONOMICS

EXECUTIVE OFFICER: Carl S. Shoup, 503 Fayerweather

Office hours:Monday and Wednesday, 10 to 10:30 and 11 to 12. Thursday, 2 to 4
Telephone Extension:2171

DEPARTMENT SECRETARY: Carolyn M. Stedman, 502 Fayerweather

Office hours:Monday through Friday, 9 to 5
Telephone Extension:849

DEPARTMENT BULLETIN BOARD: outside 502 Fayerweather

 

The following remarks supplement or amplify the description of degree requirements found in two places in the Graduate Faculties Bulletin: on pages 14-18 for the Faculty Requirements and on page 37 for the Departmental Requirements. Have these pages of theBulletin at hand when reading the statement below.

GENERAL

The Department takes the view that each graduate student having his particular intellectual interests and methods of satisfying them, flexibility in the departmental procedures intended to assist him is necessary. Hence, no system of departmental advisers has been set up. During his first registration, the student will find all members of the Department available, at hours posted on the bulletin board, for consultation on his course program. Any member of the Department may sign approval of the student’s program card. If a study of the course offerings in the Bulletindoes not give the entering student a clear enough idea of the particular member of the Department by whom he would prefer to be advised on his program, he may obtain suggestions on this score from the Academic Assistant or Professor Shoup.

In succeeding semesters the student’s developing interests and his growing acquaintance with the members of the Department should enable him to select some one or two faculty members as his chief adviser or advisers.

Although no specified courses are required for either degree, all students in the Department are advised to attend Economics 101-102, the basic course in economic theory, unless they enter the Department with an exceptional background in that subject.

 

THE MASTER’S DEGREE

Candidates are expected to study the requirements listed in the Graduate Faculties Bulletinand to plan their work in the light of both A. M. and Ph.D. requirements in case they should later decide to work toward the higher degree.

Not less than six months before he desires to receive the degree, the candidate must select his Essay subject, submit it to the appropriate member of the Department, and, after approval, list the subject with the Academic Assistant of the Department. The Essay need not be completed until after the candidate has satisfied the course requirements for the degree.

The selection of a subject of importance within the field of his interests must be made by the student, and the ability to make a proper choice will be regarded as an essential qualification for the degree.

The completed Essay must be submitted for approval not later than four weeks before the date on which copies are to be filed with the Essay and Dissertation Secretary. The candidate should not proceed beyond the preparation of his detailed program of investigation and the completion of a preliminary chapter or section without submitting his work to his supervisor. An Essay is judged by the manner of its presentation and style as well as by its contents and the employment of original material.

Another foreign language may be substituted for French or for German, with the approval of the Executive Officer, if it is particularly useful for the student’s projected research; but another Romance language may not be offered with French. Failure to pass one of the language examinations or the mathematics examination, as the case may be, before registering for more than 30 points, or failure to pass the other examination before registering for more than 45 points, will result in denial of permission to register until the deficiency is removed.

In 1957-1958 the examinations in languages and mathematics will be held on the following days: Thursday, September 19, 1957, from 10 to 12; Friday, January 17, 1958, from 2 to 4; Friday, May 2, 1958, from 2 to 4 (room numbers will be posted outside Room 502 Fayerweather). At least one week before the examination the student must notify the Academic Assistant of the Department of his intention to take it.

Two years of intensive language work in one of Columbia University’s Institutes, with a grade of B or better throughout, are accepted in lieu of passing the regular language examination. Language examinations taken at other universities are not accepted for this requirement.

Foreign students are asked to bear in mind that a command of the English language is assumed, and that English consequently cannot be accepted as a foreign language satisfying the requirement. Nor can allowance be made in any examination, oral or written, for unfamiliarity with English.

 

THE DOCTORATE

The student must satisfy the Department that he has gained a thorough knowledge of several fields of economics (and, at his option, one field outside economics), to the point where he can demonstrate command of the material in a comprehensive oral examination and can utilize his knowledge in the writing of a doctoral Dissertation. To this end, the Department does not require course examinations of the Ph.D. candidate, nor are particular courses required. Instead, the student must, in addition to meeting the language and proficiency requirements stated in the Bulletin, (a) compete a seminar paper in one of the research courses offered in the Department, and (b) prepare an outline of his dissertation topic.

In practice, the typical Ph.D. candidate does take examinations in a limited number of courses, both to test himself and to build a record on which recommendations for fellowships or employment can be based. Moreover, those doctoral candidates who wish to obtain an A.M. degree en route necessarily take examination in 21 points (seven courses). The student’s decision to earn this degree should be guided by his interests and aims, after consultation with the Executive Officer or other members of the Department. Although the Department approves of a limited amount of examination taking, it asks the doctoral candidate to keep in mind the possible disadvantages of devoting too much time to the preparation for such tests.

Before he registers for more than 45 points, and as soon as possible, the candidate should submit for the Executive Officer’s approval his tentative choice of the three subjects, from the list given in the Graduate Faculties Bulletin, to add to the three required subjects. To ascertain the requirements for obtaining the certifications of proficiency in two of the six subjects, the candidate should, during his first semester, consult those members of the staff in charge of the respective fields. Certification of proficiency is not given for economic theory or for any subject under No. 19 in the Bulletinlist. These subjects may be, and economic theory mustbe, offered only at the oral examination.

The prospective candidate may find it advisable to take Statistics 191-192 and either Economics 153-154 (Economic history of the United States), or Economics 155-156 (Economic history of Europe, 1740-1914), or Economics 151-152 (Economic history of Russia to 1917) during his first year of residence, if he wishes to obtain a certificate of proficiency in statistics, or in one of these three divisions of economic history. No more than one of the three divisions may be offered among the six subjects. The professors in charge of certifying in these divisions are: United States, Professor Goodrich; Europe, Professor Landes (in 1957-1958, Professor Hughes); Russia, Professor Florinsky.

The 6-point research-course requirement cannot be fulfilled by research courses taken in other universities or in other Departments. Students are advised to take a research course in the Department as soon as they have completed 30 points, if not before. The required paper may be written in either of the two semesters of the research course.

Some time before he plans to take the oral examination, the student should select the field in which he intends to write his Dissertation. This field should normally be one of the six chosen for proficiency and oral examination. With the assistance of a member of the Department interested in this field, the candidate should formulate a topic for his Dissertation. As soon as the topic has been approved by the staff member (henceforth the student’s sponsor), the candidate must report to the Academic Assistant the name of the sponsor and the subject of the proposed Dissertation. No change of sponsorship will be recognized unless the candidate notifies the Academic Assistant. Although the Executive Officer may authorize a joint sponsorship, the Dissertation is generally written under a single sponsor.

The candidate is expected to draft a three- or four-page memorandum outlining the proposed Dissertation, indicating also the chief sources to be used, and defending the feasibility of the project. No oral examination will be scheduled until the candidate has deposited with the Academic Assistant his project memorandum, bearing the approval of the sponsor.

Well before the time he expects to apply for the oral examination, the candidate should obtain advice on preparing for this examination from members of the Faculty in charge of the fields he is offering. The oral examination is not an examination on courses, but on subjects (fields).

The formal application for a date for the examination must be made to the Academic Assistant for approval by the Executive Officer. The application will not be received until the requirements discussed above have been met. No exceptions can be made to the rules governing the dates of scheduling the various departmental and faculty examinations.

The reference under No. 19 in the Graduate Faculties Bulletin (page 37) to “any other one subject…approved by the Executive Officer of the Department” may include a subject falling in one of the Departments under the Faculty of Political Science, or in philosophy, or psychology, or in some other discipline dealing with matters relevant to the student’s scholarly interests. A candidate proposing to offer a subject outside the Department of Economics must obtain the approval of the Executive Officer of that other Department in advance. In general, the Department encourages doctoral candidates to devote a part of their efforts to a subject outside the Department.

Candidates for the Ph.D. degree in other Departments who propose to offer a minor in economics at the oral examination must be examined on economic theory and any one other of the subjects listed under Nos. 1-19 in the Bulletin. Such candidates should consult the Executive Officer of the Department of Economics as early as possible.

Candidates in other departments offering a minor in economic history aat the oral examination will be required to show either (a) a knowledge of the economic history of two major regions, or (b) a knowledge of the economic history of one major region and of the field or fields of economics particularly relevant to the subject of the proposed Dissertation.

A few private studies are available in Butler Library for students who are writing their Dissertations in residence; application should be made to the Academic Assistant.

The doctoral candidate may find it advisable to start on a first draft of his Dissertation well before the oral examination, perhaps in one of the research courses. During the writing of his Dissertation, the candidate should not fail to keep in lose touch with his sponsor. Much time will be saved, more assistance will be obtained, and more of the intellectual stimulus that should develop from the writing of a Dissertation will be felt if the candidate remains on or close to the Columbia campus. The candidate is particularly warned against writing a Dissertation in absentia, out of touch with his sponsor, and usually in the unfounded expectation that what he considers his finished draft, suddenly deposited on the desk of the sponsor, will lead speedily to a defense examination and the award of a degree.

If the candidate leaves the campus and makes no progress on his Dissertation, he should in December of each year send an explanatory statement to his sponsor; or, alternatively, notify his sponsor that he has abandoned the project. If the candidate does not apply for an examination in defense of his Dissertation within five years from the time he passed his oral examinations, he will be regarded as having abandoned his Dissertation topic, unless he requests in writing an extension of time and receives written approval of such an extension from his sponsor and the Executive Officer.

The candidate will not be recommended by the Executive Officer for an examination in defense of the Dissertation until the candidate’s sponsor has notified the Academic Assistant that the Dissertation is in acceptable form for final typing.

 

GRADUATE ECONOMICS SOCIETY

Graduate students will enhance their efficiency in learning and their professional interests by frequent discussion among themselves. For this purpose, the Graduate Economics Society, which meets regularly in Fayerweather Lounge, will be found useful. The officers for 1957-1958 are as follows:

President:  Edwin Dean, 419 West 115thStreet, Apt. 52, New York 25.

Vice President: Paul Graeser, 517 Furnald Hall

Secretary-Treasurer: Louise Freeman, 45 East 80thStreet, New York 21.

Telephone: LEhigh 5-6375.

 

Source:  The Graduate Student’s Guide. Columbia University, Bulletin of Information. Series 57, Number 39 (September 28, 1957), pp. 114-119.

Image Source:  Butler Library, 1939. Columbia’s Rare Book & Manuscript Library blog. April 19, 2018.

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Berkeley Chicago Columbia Cornell Economics Programs Economists Harvard Illinois Johns Hopkins Michigan Minnesota Northwestern Ohio State Pennsylvania Princeton Stanford Toronto Wisconsin Yale

Economics Graduate Programs Ranked in 1925

 

Filed away in the archived records of the University of Chicago’s Office of the President is a copy of a report from January 1925 from Miami University (Ohio) that was based on a survey of college and university professors to obtain a rank ordering of graduate programs in different fields. The following ordering for economics graduate programs 1924-25 is based on two dozen responses. I have added institutional affiliations from the AEA membership list of the time and a few internet searches. The study was designed to have a rough balance between college and university professors and a broad geographic representation. What the study lacks in sophistication will amuse you in its presumption.

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This rating was prepared in the following way: The members of the Miami University faculty representing twenty fields of instruction were called together and a list of the universities which conceivably might be doing high grade work leading to a doctor’s degree in one or more subjects was prepared on their advice. Each professor was then requested to submit a list of from forty to sixty men who were teaching his subject in colleges and universities in this country, at least half of the names on the list to be those of professors in colleges rather than in universities. It was further agreed that the list should be fairly well distributed geographically over the United States. [p. 3]

 

ECONOMICS

Ratings submitted by: John H. Ashworth [Maine] , Lloyd V. Ballard [Beloit], Gilbert H. Barnes [Ohio Wesleyan], Clarence E. Bonnett [Tulane], John E. Brindley [Iowa State], E. J. Brown [Arizona], J. W. Crook [Amherst], Ira B. Cross [California], Edmund E. Day [Michigan], Herbert Feis [Cincinnati], Frank A. Fetter [Princeton], Eugene Gredier, Lewis H. Haney [N.Y.U.], Wilbur O. Hedrick [Michigan State], Floyd N. House [Chicago], Walter E. Lagerquist [Northwestern], W. E. Leonard, L. C. Marshall [Chicago], W. C. Mitchell [Columbia], C. T. Murchison [North Carolina], Tipton A. Snavely [Virginia], E. T. Towne [North Dakota], J. H. Underwood [Montana], M. S. Wildman [Stanford].

 

Combined Ratings:  (24)

1 2 3 4-5
Harvard 20 4 0 0
Columbia 11 9 2 1
Chicago 9 7 3 2
Wisconsin 8 7 4 2
Yale 3 3 9 3
Johns Hopkins 2 4 8 3
Michigan 0 6 4 5
Pennsylvania 0 3 6 8
Illinois 0 5 4 4
Cornell 0 2 7 5
Princeton 2 1 4 4
California 0 3 4 5
Minnesota 0 2 4 6
Northwestern 0 2 3 6
Stanford 0 1 4 6
Ohio State 0 1 2 8
Toronto 0 2 2 3

Staffs:

HARVARD: F.W. Taussig, E.F. Gay, T.N. Carver, W.Z. Ripley, C.J. Bullock, A.A. Young, W.M. Persons, A.P. Usher, A.S. Dewing, W.J. Cunningham, T.H. Sanders, W.M. Cole, A.E. Monroe, H.H. Burbank, A.H. Cole, J. H. Williams, W.L. Crum, R.S. Meriam.

COLUMBIA: R.E. Chaddock, F.H. Giddings, S.M. Lindsay, W.C. Mitchell, H.L. Moore, W. Fogburn, H.R. Seager, E.R.A. Seligman, V.G. Sinkhovitch, E.E. Agger, Emilie J. Hutchinson, A.A. Tenney, R.G. Tugwell, W.E. Weld.

CHICAGO: L.C. Marshall, C.W. Wright, J.A. Field, H.A. Millis, J.M. Clark, Jacob Viner, L. W. Mints, W.H. Spencer, N.W. Barnes, C.C. Colby, P.H. Douglas, J.O. McKinsey, E.A. Duddy, A.C. Hodge, L.C. Sorrell.

WISCONSIN: Commons, Elwell, Ely Garner, Gilman, Hibbard, Kiekhofer, Macklin, Scott, Kolb, McMurry, McNall, Gleaser, Jamison, Jerome, Miller, S. Perlman.

YALE: Olive Day, F.R. Fairchild, R.B. Westerfield, T.S. Adams, A.L. Bishop, W.M. Daniels, Irving Fisher, E.S. Furniss, A.H. Armbruster, N.S. Buck.

JOHNS HOPKINS: W.W. Willoughby, Goodnow, W.F. Willoughby, Thach, Latane.

MICHIGAN: Rodkey, Van Sickle, Peterson, Goodrich, Sharfman, Griffin, May, Taylor, Dickinson, Paton, Caverly, Wolaver.

PENNSYLVANIA: E.R. Johnson, E.S. Mead, S.S. Heubner, T. Conway, H.W. Hess, E.M. Patterson, G.G. Huebner, H.T. Collings, R. Riegel, C.K. Knight, W.P. Raine, F. Parker, R.T. Bye, W.C. Schluter, J.H. Willits, A.H. Williams, R.S. Morris, C.P. White, F.E. Williams, H.J. Loman, C.A. Kulp, S.H. Patterson, E.L. McKenna, W.W. Hewett, F.G. Tryon, H.S. Person, L.W. Hall.

ILLINOIS: Bogart, Robinson, Thompson, Weston, Litman, Watkins, Hunter, Wright, Norton.

CORNELL: W.F. Willcox, H.J. Davenport, D. English, H.L. Reed, S.H. Slichter, M.A. Copeland, S. Kendrick.

PRINCETON: F.A. Fetter, E.W. Kemmerer, G.B. McClellan, D.A. McCabe, F.H. Dixon, S.E. Howard, F.D. Graham.

CALIFORNIA: I.B. Cross, S. Daggett, H.R. Hatfield, J.B. Peixotte, C.C. Plehm, L.W. Stebbins, S. Blum, A.H. Mowbray, N.J. Silberling, C.C. Staehling, P.F. Cadman, F. Fluegel, B.N. Grimes, P.S. Taylor, Helen Jeter, E.T. Grether.

MINNESOTA: G.W. Dorwie, J.D. Black, R.G. Blakey, F.B. Garver, N.S.B. Gras, J.S. Young, A.H. Hansen, B.D. Mudgett, J.E. Cummings, E.A. Heilman, H.B Price, J.J. Reighard, J.W. Stehman, H. Working, C.L. Rotzell, W.R. Myers.

NORTHWESTERN: Deibler, Heilman, Secrist, Bailey, Pooley, Eliot, Ray Curtis, Bell, Hohman, Fagg.

STANFORD: M.S. Wildman, W.S. Beach, E. Jones, H.L. Lutz, A.C. Whitaker, J.G. Davis, A.E. Taylor, J.B. Canning.

OHIO STATE: M.B. Hammond, H.G. Hayes, A.B. Wolf, H.F. Waldradt, C.O. Ruggles, W.C. Weidler, J.A. Fisher, H.E. Hoagland, H.H. Maynard, C.A. Dice, M.E. Pike, J.A. Fitzgerald, F.E. Held, M.N. Nelson, R.C. Davis, C.W. Reeder, T.N. Beckman.

Compiled with the assistance of J.B. Dennison, associate professor of economics.

 

Source:  Raymond Mollyneaux Hughes, A Study of the Graduate Schools of America. Oxford, OH: Miami University (January 1925), pp. 14-15.  Copy from University of Chicago. Office of the President. Harper, Judson and Burton Administrations. Records, Box 47, Folder #5 “Study of the Graduate Schools of America”, Special Collections Research Center, University of Chicago.

 

Image Source: Four prize winners in annual beauty show, Washington Bathing Beach, Washington, D.C. from the U. S. Library of Congress. Prints & Photographs. http://hdl.loc.gov/loc.pnp/cph.3b43364

 

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Columbia Rochester

Columbia. Economics PhD Alumnus, Meyer Jacobstein, 1907

 

Today in our continuing historical series “Get to know an economics Ph.D.”, we meet Meyer Jacobstein (1880-1963), a Columbia University Ph.D. (1907) who, before serving as a member of the U.S. House of Representatives (1923-1929), taught economics at the University of North Dakota and the University of Rochester.

Jacobstein’s disssertation was published by the Columbia Faculty of Political Science in its house journal:

Meyer Jacobstein. The Tobacco Industry in the United States. Studies in History, Economics and Public Law (Vol. XXVI, No. 3), 1907.

In his introduction Jacobstein thanks E.R.A. Seligman, H. R. Seager and H.L. Moore for criticism and suggestions.

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From: Columbia University Catalogue of Officers and Graduates

Meyer Jacobstein, A.B., 05; A. M., 05; Ph. D, 07; Asst. Prof. Univ. N. Dak. (University, N. Dak.)

Source:  Catalogue of Officers and Graduates of Columbia University from the Foundation of King’s college in 1754.(XVI edition, 1916), p. 200.

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From: Biographical Director of the U.S. Congress

JACOBSTEIN, Meyer, a Representative from New York; born in New York City, January 25, 1880; moved with his parents to Rochester, N.Y., in 1882; attended the public schools and the University of Rochester, Rochester, N.Y.; was graduated from Columbia University, New York City, in 1904; pursued postgraduate courses at the same university in economics and political science; special agent in the Bureau of Corporations, Department of Commerce, Washington, D.C., in 1907; assistant professor of economics, University of North Dakota at Grand Forks 1909-1913; professor of economics in the University of Rochester 1913-1918; was a director in emergency employment management at the University of Rochester under the auspices of the War Industry Board 1916-1918; elected as a Democrat to the Sixty-eighth, Sixty-ninth, and Seventieth Congresses (March 4, 1923-March 3, 1929); was not a candidate for renomination in 1928; delegate to the Democratic National Conventions in 1924 and 1932; declined the nomination of mayor of Rochester, N.Y., in 1925; engaged in banking in Rochester, N.Y., 1929-1936; in 1936 became chairman of the board of the Rochester Business Institute; member of the Brookings Institution staff 1939-1946; economic counsel in the legislative reference service of the Library of Congress from 1947 until his retirement May 31, 1952; resided in Rochester, N.Y., until his death there on April 18, 1963; interment in Mount Hope Cemetery.

Source: Biographical Directory of the United States Congress.

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Obituary

Dr. Meyer Jacobstein, Noted Economist and Educator, Dies in Rochester
(Apr. 21, 1963)

Funeral services were held here for Dr. Meyer Jacobstein, former member of the U.S. Congress, college professor and publisher of the Rochester Journal-American, who died last Thursday at the age of 83.

Born in New York, Dr. Jacobstein spent most of his life in Rochester. He was elected in 1922 to Congress on the Democratic ticket, and was the second Democratic representative from the 38th Congressional District since the Civil War. He was reelected twice but chose not to run in 1928. He was assistant professor of economics in the University of North Dakota from 1909 until 1913. In 1913 he joined the faculty of the University of Rochester as professor of economics.

Dr. Jacobstein was publisher of The Journal American here, from 1924 until the newspaper suspended in 1937. He then became a research consultant for the Brookings Institute in Washington. In 1944, he was director of a Senate special committee on postwar economic policy and planning. He retired from public life in 1957, after completing a one-year study of Rochester employment at the request of Governor Averell Harriman. He is survived by his widow, Lena (Lipsky), two daughters and eight grandchildren.

Source: Jewish Telegraphic Agency, April 22, 1963.

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Image Source: Campaign button from U.S. Congress, History of the House website; Meyer Jacobstein in Wikipedia.

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Columbia Exam Questions

Columbia. Microeconomic theory exam. Becker, 1965.

 

The following set of Gary Becker’s microeconomic theory examination questions (found in a folder in the Milton Friedman papers at the Hoover Archives) does not have an institution identification. According to the copy of Gary Becker’s c.v. buried in the website at the Institute of Labor Economics (IZA) in Bonn, Germany, we can be reasonably confident that this course was taught while Becker was still a professor at Columbia University. 

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Final Examination
G6213x
Prof. G. S. Becker
January, 1965

THREE HOURS—Persons whose native language is not English can have an additional 45 minutes.

  1. (40 points) Answer each of the following as true, false or uncertain and justify your answer in the space provided.
    1. Over time in the U.S. since 1929 output of the service industries rose at about the same rate as that of goods. Since the price of services rose at least as rapidly as that of goods, the income elasticity of demand for services would be greater than that for goods.
    2. A weighted average of all price elasticities must add up to one.
    3. Suppose the excise tax on bus travel was reduced and not on plane, train or other travel. This would reduce the use of buses if such travel was a sufficiently strong inferior good relative to other kinds of travel.
    4. The ability of firms of very different sizes to survive in an industry means that the long run marginal cost curve is horizontal over the range of firm sizes that survive.
    5. If an increase in the output of any firm lowered the marginal cost curves of other firms in the same industry (external economies) a competitive industry as a whole might show increasing returns; i.e., have a negatively inclined supply curve.
    6. Short run marginal costs can never be below long run marginal costs.
    7. Suppose that a competitive firm maximizes not income but its sales subject to the constraint that it does not make any losses. Then reduction in the demand for its product might not lead it to reduce output.
    8. Goods X and Y are either substitutes, complements, or independent if an increase in the amount of X either reduces, raises or leaves unchanged the marginal utility of Y.
    9. If the price of a good competitively produced was free to vary and yet did not change much between a seasonal low and a seasonal high in demand, this means that the industry’s long run marginal cost curve was very elastic.
    10. An ad valorem tax, with a tax rate proportional to producer’s price, on a competitive industry that yielded the same revenue at the initial output as a specific tax, fixed amount per unit, would reduce output less than the specific tax.

 

  1. (20 points) Treat charitable contributions as a commodity entering the utility functions or indifference curves systems of the contributor. Assume, as is largely true, that contributions can be deducted from income in arriving at taxable income. Assume a proportional tax rate equal to t.
    1. What would be the effect of an increase in the tax rate for any one person alone on his contributions? How does your analysis compare with the traditional analysis for commodities?
    2. Is he more likely to increase or decrease his contributions?
    3. Suppose now the tax rate increased for everyone. Would your answers to a. and b. be significantly different?

 

  1. (20 points) Suppose the traffic department would like to enforce parking regulations in an efficient way. Assume that each person has the choice of parking illegally or legally; the latter costs X dollars per “day” and the former, if one is caught, causes a fine equal to F dollars per time caught.
    1. Assume first that the sole aim of the traffic department is to discourage illegal parking at minimum cost. Assume also that all drivers simply try to maximize expected money income. How frequently should the traffic department inspect parking in order to achieve its aim?
    2. If all drivers maximized expected utility and had diminishing marginal utility of income, (but there is no utility or disutility from disobeying the law), how would this affect your answer? If they had increasing marginal utility of income?
    3. Suppose the traffic department received all the fines and desired just to maximize its expected income. How would your answer to 1. be affected?
    4. How does your answer to a. and c. depend on F, the size of the fine, and X, the cost of legal parking?

 

  1. (20 points) Suppose the earnings of military personnel were set below the price that would make the number of volunteers equal to the demand by the military, and that draft calls were sent out strictly at random to males aged 18-26 to bring the number entering up to demand

a.

1. How would the composition of drafted personnel compare with those that would enter if military earnings were raised sufficiently to make the number of volunteers equal to demand?

2. How would the total tax burden and its distribution among the population compare?

b. Assume now that drafted personnel could buy a substitute or substitute for someone else (as during the Civil War) instead of entering as a draftee. Assuming the capital market for substitutes works well, in equilibrium

1. How would the composition of men entering and the tax burden compare with that under a drafted and a fully voluntary system?

2. What determines the price that substitutes can get?

 

Source: Hoover Institution Archives.  Milton Friedman Papers, Box 80, Folde.r “University of Chicago, Student doctoral thesis and papers”.

Image Source:  Gary S. Becker from University of Chicago Photographic Archive, apf7-00059, Special Collections Research Center, University of Chicago Library.

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Halle (Germany). 1897 economics PhD alumnus and later Illinois professor, Ernest L. Bogart

 

Today’s post provides some biographical information about the American economic historian and long-time University of Illinois economics professor, Ernest L. Bogart. I might have begun my search beginning from the fact that Bogart was the 1931 President of the American Economic Association, but no, I stumbled across his name during an examination of the Columbia University Quarterly of March, 1899 where I read “Mr. E. L. Bogart, graduate student in 1897-98, has been appointed Professor of Political Economy at Indiana University”.  I could find no record of Bogart actually completing a degree at Columbia, so I slipped on my gum shoes and proceeded to do a background check. It wasn’t hard and again found an example of an economist who had lived a very successful academic life but has become dependent on the helping hand of a historian of economics to be dusted off, properly preserved, and displayed in a collection of artifacts. 

Ernest L. Bogart began his academic life as a Princeton man (A.B., 1890; A.M.,1896) and went on to the Johannes Conrad Seminar in Halle Germany to write a doctoral dissertation published as Die Finanzverhältnisse der Einzelstaaten der Nordamerikanischen Union [in Sammlung nationalökonomischer und statistischer Abhandlungen des staatswissenschaftlichen Seminars zu Halle a.d.S. herausgegeben von Johannes Conrad. Vol. 14. Jena: Gustav Fischer, 1897]. He passed through Columbia University for one year in what we would today call a post-doc, then on to appointments at Smith College (probably filling in for Henry L. Moore on leave), then University of Indiana, Oberlin College, back to Princeton, and then to the University of Illinois in 1909.

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MEET THE FACULTY: ERNEST L. BOGART

After serving the University and his country—and even acting in an international capacity—for nearly a third of a century, Ernest L. Bogart, head of the department of economics from 1920 until the beginning of the current school year, and now professor of economics, emeritus, has retired, and, with Mrs. Bogart, is residing temporarily in New York City.

Mr. Bogart, whose notable, writings in the field of economics, are numerous and whose service to the nation has been wide and varied, assisted the Persian government in 1922-23. He was adviser on banking and currency to that Government and is credited with having aided materially in Persian monetary matters.

Born March 16, 1870 in Yonkers, N.Y., Mr. Bogart received his A.B. degree in 1890 and his A.M. degree in 1896, both from Princeton University. In 1897 he obtained his Ph.D. degree from the University of Halle, German.

Two years as an assistant professor of economic and social science at Indiana University were followed by five years service—1900-05—at Oberlin College. He then returned to his alma mater and for four years was assistant professor of economics. In 1909, he came to the University as professor of economics, a position he held until this year.

In addition to his service here, Mr. Bogart was professor of banking and finance, Georgetown School of Foreign Service, 1919-20, professor of economics, Claremont College, 1929-30 professor of economics during the summer sessions at Columbia University, University of California, University of Texas, and Southern California.

Mr. Bogart’s government service includes membership on the committee of public information, 1918, in charge of commodity studies bureau of research, War Trade Board, 1918, regional economist, foreign trade advisor, State Department, 1919-20, advisory committee, National Economic League since 1920, delegate of State Department to convention of foreign trade council, 1920, advisory committee, Stable Money Association since 1924, committee on monetary policy of the U. S. Chamber of Commerce, 1933, government’s commission on unemployment, 1933, and economists’ national monetary commission since 1934.

The economist is a member of the National Park Association, Econometric Society (British), Foreign Policy Association, Persian-American Association, American Economic Association, Phi Beta Kappa, Beta Gamma Sigma, Delta Sigma Pi, and Phi Kappa Epsilon.

Source: From the Daily Illini, November 29, 1938, p. 3. Transcription also found at: University of Illinois. Conference on Iran’s Economy, December 11-13, 2008.

Image Source: Ernest L. Bogart, Historical faculty, department of economics, University of Illinois.

Categories
Columbia Curriculum Gender Undergraduate

Columbia. Economics and social science curriculum as of Dec. 1898

Columbia 1890-1898

 

One of the duller parts of my project that covers roughly a century’s development (1870-1970) of undergraduate and graduate economics education is gathering information on the nuts-and-bolts of curriculum structure. Today, looking at a report of the Faculty of Political Science published in the December 1898 issue of Columbia University Quarterly, I saw the announcement that 1898-99 was the first time that women were admitted to graduate courses in history and economics. The report also presented an easy to follow outline of the four or five year curriculum in economics and the social sciences. The idea behind the curriculum was to provide an orderly and logical sequence of courses, yet with sufficient flexibility to serve the needs of undergraduates, graduates (a.k.a. specialists), and special students (those from outside the Faculty of Political Science).

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Other Relevant Columbia University Artifacts

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Highlights from the December 1898 report of the Faculty of Political Science

“For the first time in its history women are admitted to its courses in history and economics, but only women who are graduates and who are competent to carry on the work of the courses. No women are admitted as special students or to the courses given to the undergraduates, the idea being to put the women graduate students on the same footing as the men, giving them the same opportunities.” p. 75.

“Several new volumes in the series of Studies in History, Economics, and Public Law are now completed, including volumes eight and nine. These studies comprise the most successful of the dissertations which are submitted in partial fulfilment of the requirements for the doctor’s degree.”

Economics and social science curriculum (four or five years)

“Columbia University has attempted thus to formulate in the Department of Economics and Social Science a programme that shall be systematic, in the sense of orderly development and logical sequence (the course covers four or five years), and at the same time flexible, for the purpose of meeting the just demands of a great variety of students—the undergraduate, the specialist, and the special student.” p. 77.

Junior year economics:

“The undergraduate begins with the Economic History of England and America (Economics 1), which gives him that understanding of the evolution of economic institutions, such as the systems of land tenure, the factory system, the institutions of commerce and trade, which is necessary for any approach to economic discussion. That is followed by the Elements of Political Economy (Economics A), where the fundamental principles of the science are laid down and illustrated by contemporary events. These courses are usually taken during the Junior year, but may be taken a year earlier by students desiring to specialize in this direction. The lettered course is required of every student, and is in the nature of logical discipline for clear reasoning and a preparation for good citizenship. The College is held thereby to have discharged its duty to itself, in fulfilling the minimum required for the degree of A.B., and to the community, in inculcating sound principles in its graduates.” p. 76.

Senior year economics:

“For the majority of undergraduates these courses are but the preliminary sketch, the details of which are to be filled out by the more intensive study of Senior year. For this abundant opportunity is offered in the course on modern industrial problems, money, and labor (Economics 3), in the treatment of finance and taxation (Economics 4) and in the critical consideration of theories of socialism and projects of social reform (Economics 10 and 11). At the same time the elements of sociology (Sociology 15) furnish a broader foundation for generalization in regard to the fundamental principles of social life, and afford the student on the eve of graduation an opportunity to coordinate his knowledge of history, economics, philosophy, and ethics into a theory of society.

These courses of Senior year constitute the fundamental university courses, and are frequented by graduates of other colleges and by many students from the law school, the theological seminaries, and Teachers College, who find them valuable as auxiliary to their main lines of study. For the specialist and special student these courses in their turn are preliminary. They form the introduction to the university courses proper.” pp. 76-77.

Graduate (or specialist) economics:

“Here the specialist finds opportunity for development in economic theory (Economics 8, 9, and 10) and for further practical work (Economics 5 and 7), for sociological theory (Sociology 20, 21, and 25), for the treatment of problems of crime and pauperism (Sociology 22 and 23). and for the theory and practice of statistics as an instrument of investigation in all the social sciences (Sociology 17, 18, and 19). Crowning the whole are the seminars in political economy and sociology, and the statistical laboratory, where the student is trained for original work.” p. 77.

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Faculty of Political Science
[Full Report for Dec. 1898 Columbia University Quarterly]

Department of History.—The late war seems to have had its effect on educational matters, and several resulting tendencies have been particularly marked at Columbia University. Thus, in the School of Political Science the attendance of students in the course on the general principles of international law has been very large and much interest is being manifested in the subject. Ordinarily this course, as well as a number of others treating of kindred subjects, is given by Professor Moore, who is at present in the service of the United States government. In his absence the course is being conducted by Mr. Edmond Kelly, who has lectured before the school on numerous occasions. Professor Moore’s course on diplomatic history is now being given by Dr. Frederic Bancroft, formerly librarian of the State Department, and a former lecturer in this Faculty.

The Faculty of Political Science has commenced the term with every indication of a most prosperous year. For the first time in its history women are admitted to its courses in history and economics, but only women who are graduates and who are competent to carry on the work of the courses. No women are admitted as special students or to the courses given to the undergraduates, the idea being to put the women graduate students on the same footing as the men, giving them the same opportunities.

The number of publications from the members of this faculty is constantly increasing, and several important works have recently been published or are in preparation. The Macmillan Company will soon publish Professor John B. Clark’s two-volume work on the distribution of wealth and the new edition of Professor Seligman’s Shifting and Incidence of Taxation. Several new volumes in the series of Studies in History, Economics, and Public Law are now completed, including volumes eight and nine. These studies comprise the most successful of the dissertations which are submitted in partial fulfilment of the requirements for the doctor’s degree. Professor Robinson has just published a volume entitled Petrarch’s Letters, and Professor Munroe Smith’s Study of Bismarck has been issued from the University Press.

As Wednesday, October 19, was appointed Lafayette Day, President Low arranged for an address on “The Life and Services to this Country of Lafayette,” by Professor J. H. Robinson.

The department of history has enrolled about four hundred students from Columbia and Barnard. It offers a total of thirty-three courses. The new circular which explains fully its resources and gives a detailed account of its work can be had on application to the Secretary of the University. Professor Dunning is absent on leave. He is spending the winter in Rome, engaged in certain researches connected with the history of political theories and ancient institutions.

W. M. S. [William M. Sloane]

 

Department of Economics and Social Science.—The courses in this department have been so systematized as to meet the needs of both undergraduate and graduate students, while offering to other members of the University and of allied institutions the opportunity to broaden their studies by some knowledge of social theory and social problems.

The undergraduate begins with the Economic History of England and America (Economics 1), which gives him that understanding of the evolution of economic institutions, such as the systems of land tenure, the factory system, the institutions of commerce and trade, which is necessary for any approach to economic discussion. That is followed by the Elements of Political Economy (Economics A), where the fundamental principles of the science are laid down and illustrated by contemporary events. These courses are usually taken during the Junior year, but may be taken a year earlier by students desiring to specialize in this direction. The lettered course is required of every student, and is in the nature of logical discipline for clear reasoning and a preparation for good citizenship. The College is held thereby to have discharged its duty to itself, in fulfilling the minimum required for the degree of A.B., and to the community, in inculcating sound principles in its graduates.

For the majority of undergraduates these courses are but the preliminary sketch, the details of which are to be filled out by the more intensive study of Senior year. For this abundant opportunity is offered in the course on modern industrial problems, money, and labor (Economics 3), in the treatment of finance and taxation (Economics 4) and in the critical consideration of theories of socialism and projects of social reform (Economics 10 and 11). At the same time the elements of sociology (Sociology 15) furnish a broader foundation for generalization in regard to the fundamental principles of social life, and afford the student on the eve of graduation an opportunity to coordinate his knowledge of history, economics, philosophy, and ethics into a theory of society.

These courses of Senior year constitute the fundamental university courses, and are frequented by graduates of other colleges and by many students from the law school, the theological seminaries, and Teachers College, who find them valuable as auxiliary to their main lines of study. For the specialist and special student these courses in their turn are preliminary. They form the introduction to the university courses proper.

Here the specialist finds opportunity for development in economic theory (Economics 8, 9, and 10) and for further practical work (Economics 5 and 7), for sociological theory (Sociology 20, 21, and 25), for the treatment of problems of crime and pauperism (Sociology 22 and 23). and for the theory and practice of statistics as an instrument of investigation in all the social sciences (Sociology 17, 18, and 19). Crowning the whole are the seminars in political economy and sociology, and the statistical laboratory, where the student is trained for original work.

Columbia University has attempted thus to formulate in the Department of Economics and Social Science a programme that shall be systematic, in the sense of orderly development and logical sequence (the course covers four or five years), and at the same time flexible, for the purpose of meeting the just demands of a great variety of students—the undergraduate, the specialist, and the special student.

R. M.-S. [Richmond Mayo-Smith]

 Source: Columbia University Quarterly, Vol. 1 (December 1898), pp. 74-77.

Image Source:  Art and Picture Collection, The New York Public Library. (1890). Columbia University Retrieved from http://digitalcollections.nypl.org/items/510d47e0-cc6c-a3d9-e040-e00a18064a99

 

Categories
Columbia Economists

Columbia. Economics department in WWII. Excerpt from letter to President Butler, Nov. 1942

 

There is a lot of information packed into the annual budget requests submitted by an economics department. Below I have limited the excerpt from the November 30, 1942 budget submission by the head of the economics department to Columbia President Nicholas Murray Butler to a brief introduction that provides an executive summary of the state of staffing and enrollment one year into the Second World War for the U.S. 

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Excerpt from R. M. Haig’s Budgetary Requests for 1943-44

DEPARTMENT OF ECONOMICS

File: R. M. Haig
November 30, 1942

President Nicholas Murray Butler
Columbia University

My dear Mr. President:

[…]

Introductory

Before turning to the detailed proposals, it may be helpful to outline certain facts regarding the general situation we face.

  1. The war has made heavy inroads on both our staff and our students. Two ([James W.] Angell and [Arthur R.] Burns) of our ten regular professor offering graduate instruction are in Washington on war service and most of those who remain are devoting a substantial portion of their time to the war effort. The staff of Columbia College has been even more heavily hit. Of the men giving instruction in the college in 1940-1941, [Carl Theodore] Schmidt and [Charles Ashley] Wright are now army officers, [Hubert Frank] Havlik, [Clement Lowell] Harriss, [Walt Whitman] Rostow and [Donald William] O’Connell are in war work in Washington, and [Robert] Valeur is devoting most of his time to aiding the Free French. However, we have been exceedingly fortunate in the substitutes we have been able to secure and (especially as compared with other institutions) we present a strong front in spite of our losses.
  2. It was apparent a year ago that the demand from Washington for persons with graduate training would sweep large numbers of our students from their classrooms before the completion of their courses. Requisitions for economists continue to arrive in almost every mail although we have long since placed in positions everyone on our eligible lists. Yet, as we anticipated last year, our body of graduate students still remains at a figure that makes it desirable and necessary to offer substantially all of our fundamental courses. The decline in the number of our students since our peak year (1938-1939, when 340 were registered) has been very great. However, we still are the largest graduate department of economics in the country by a wide margin. I am told that at Harvard, where there were 115 students last year, only 33 are in attendance this semester, and that at Chicago a similar loss has been suffered. In my letter dated December 30, 1941, it was suggested that we might have as many as 150 graduate students registered in our department this year. The latest count shows 130, with a fair prospect that the figure of 150 will be reached in the Spring session. A poll of the staff shows that, in the opinion of some, the number will be fully as large next year and the consensus is that the number will not be less than 100. Moreover all agree that with the coming of peace we shall be faced with an influx of students which may easily swamp the facilities of our graduate staff. For Columbia College, where this year the enrollment has been large, the outlook for economics in 1942-1943 is very obscure. At this time, it appears probable that the regular offering of courses, at least in skeleton form, will be required to serve a small number of regular students. Fortunately the commitments of the University to individuals on the College staff are such that the situation is highly flexible and can be accommodated with relative ease to whatever special program may be adopted for the undergraduates. In this budget, request is made for appropriations in blank for several instructorships, to be utilized only in case the need for them develops as plans for the college become more definite.
  3. Because of retirements, actual or more or less immediately impending, the department is faced with a serious problem of wise replacement of staff in its graduate division, if we are to maintain in the future the position of eminence we have held in the past. In view of this problem, it has seemed wise to make a virtue of our necessities and to utilize the need for temporary replacements for professors absent on leave during the emergency as an opportunity to invite as visiting professors certain men whom we rate high in the list of possible future staff members. This year we have three such men on the campus ([Oskar] Lange, Arthur F. Burns and [Clarence Arthur] Kulp). We believe that it will be wise to continue this policy of exploration and experimentation next year with funds released from the appropriations for the salaries of [James W.] Angell and Arthur R. Burns, in case the war continues and they do not return to their regular posts.
  4. As an incident to the policy referred to in the preceding paragraph, we have been able this year to offer a remarkably strong series of courses in the field of economic theory. However, we are this year relatively weak in economic history, socialism and industrial organization, offering no courses at all in the last-named subject. The chief embarrassment experienced this year by the unsettled staff situation has been in connection with the supervision of student research. Some of our students who have dissertations in progress have been seriously inconvenienced by the absence of the professors under whom they initiated their studies.

[…]

Source: Columbia University Archives. Central Files 1890-. Box 386, Folder “Haig, Robert Murray 7/1942—1/1943”.

Categories
Columbia

Columbia. Alvin S. Johnson recounts exams with Franklin Giddings, 1951

 

Perhaps I lived a blessed student life. I never felt that I had been particularly ill-treated in an examination, though I should add that I have fortunately been spared the trauma of an oral examination, except for matters involving my dental health. I once spoke with Kenneth Arrow, on the day before his 90th birthday, and was surprised to hear just how salient a memory was of an injustice that had been inflicted upon him by John Maurice Clark in an oral examination some seven decades earlier. Apparently Alvin Johnson nursed an analogous decades-long grudge as a result of his oral exam at the hands of the sociologist Franklin Giddings. In his letter to Joseph Dorfman transcribed in this post, we see that he was later able to leverage a poor exam performance of a Giddings’ student into a sweet payback of sorts. 

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Letter from Alvin Johnson to Joseph Dorfman

THE NEW SCHOOL
66 West 12th St. New York 11
[Tel.] Oregon 5-2700

August 21, 1951

Dear Joe:

You haven’t answered my query as to whether it wouldn’t suit your purpose better to substitute for the piece I sent you on the School of Political Science my experience of the economics department proper.

I think my second minor was in Constitutional History under Burgess. At my doctor’s exam Burgess asked me three questions, but to be fair he elaborated them so much that he answered them himself, and I had only to nod assent.

Not so with Giddings. He was having a feud with Seligman and set about taking it out of my hide. I had attended a course with him on the English Poor Laws, a course that bored Giddings stiff. He came to my exam with a sheet of details he couldn’t have remembered himself.

“What was the Statute of Laborers? What year of what reign?
“What law was enacted in the third year of Edward VI?
“What was the ‘Speenhamland Act?’ What year of what reign?”

            About forty such questions. After I had retired for the Faculty to vote[,] Giddings, who after all was my friend, came out first, slapped me on the back and said:

“Well you passed. But by God, I made you sweat.”
“I’d have made you sweat yourself if I had had the written sheet and you hadn’t loaded up for me.”
“You bet.”

            I had my revenge a few months later, when one of Giddings’ protégés came up with a thesis on Puerto Rico. He was a theologue [sic], savagely Protestant, who ascribed all the woes of Puerto Rico to the Catholic Church. His book was full of fishy figures, the worst on the food situation. The Puerto Ricans were starved; they produced practically no food but lived on imported rice, the figures for which the thesis gave. I used my arithmetic and found that the figures gave fifty pounds of rice daily per capita.

“And you say they are underfed,” I added, not very humanely.

            When the candidate had retired Goodnow moved, first that the candidate be flunked; second that Giddings be censured for bringing such a fool before the Faculty; third that I be censured for making a Faculty member laugh right out in meeting. All three votes carried.

Sincerely,
[signed]
Alvin Johnson

Dr. Joseph Dorfman
Columbia University
Faculty of Political Science
New York 27, N.Y.

aj:ar

 

Source:  Columbia University Libraries, Manuscript Collections. Joseph Dorfman Collection, Box 13, Folder “C.U. Dept.al history”.

Image Source: From the cover of Alvin S. Johnson’s 1952 autobiography.

Categories
Columbia Economists Harvard

Harvard. Career of A.M. in economics alumnus, Arthur Morgan Day (1867-1942)

 

This post began as a simple transcription of two typed pages that Alvin S. Johnson sent to Joseph Dorfman, who at the time was collecting material on the history of economics at Columbia University. The Columbia economics instructor who was the subject of Johnson’s letter, Arthur Morgan Day, was new to me, and I presume something of an unknown even to Joseph Dorfman. My curiosity sparked a chase through a variety of genealogical sources accessible at Ancestry.com, then a search through yearbooks of Barnard College and Columbia University catalogues at archive.org, and eventually a discovery of the reports of the Harvard Class of 1892 (available at hathitrust.org) that taken together provide us a fairly good account of Day’s life and career through age 55.

I have located only a single source that gives the year of his death: “Arthur Morgan Day (1867-1942)” in the National Cyclopaedia of American Biography. Vol. 31. New York: James T. White & Co., 1944.

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Alvin Johnson’s recollection of Arthur Morgan Day at Columbia College

THE NEW SCHOOL
66 West 12th St. New York 11
[Tel.] Oregon 5-2700

July 17, 1951

Dear Joe Dorfman:

This is the best I can do on Day. If you don’t like it, throw it into the waste-basket.

Sincerely,
[signed]
Alvin Johnson

encl.

Dr. Joseph Dorfman
Faculty of Political Science
Columbia University
New York 27, N.Y.

[Handwritten addition by Johnson]

I’m trying to write
something on the
Faculty
AJ

* *  *  * *

Alvin Johnson’s attachment to his letter to Joseph Dorfman of July 17, 1951

When I presented myself to Dean Burgess for registration in November 1898 and announced that I wished to study economics, the Dean advised me to register for the Marshall course by Mayo-Smith, the course on History of Economics by E. R. A. Seligman, the course on theory by John Bates Clark. I confessed that my training had been in classics; that I had never attended a course, nor even a single lecture in economics. I asked whether I ought not to take the course in elementary economics, under an instructor, Arthur Morgan Day. No, said Dean Burgess, that course was only for undergraduate cubs, who had no desire to know economics. The Committee on College Requirements had seen fit to make a required course out of it; but a mature man would be wasting his time under Day.

I did not register for Day’s course. I’m sorry I did not. For Day was a true representative of the old, solid economics of Adam Smith and Malthus and Ricardo, of Senior and Cairnes and John Stuart Mill. He made shift to comprehend the marginal utilitarianism of Marshall, but it gave him no inspiration. He saw no advance in Clark’s theory and he regarded Seligman’s Historismus as merely a change of venue in economic reasoning.

Day detested me, for my ardent devotion to J. B. Clark, for my eager acceptance of Seligman’s wide explorations in all literatures. He pitied me for my destiny of going forth into the world equipped only with fluff and froth, with no sense of the grand old economists who looked facts in the face and wrote in language that the most unlicked cub of a business man could understand. When I was awarded a fellowship Day proposed that I should have the privilege of reading and grading all his examination papers, a privilege I was too immature to appreciate. The President of the University vetoed the proposal. I had my year of complete freedom, to follow my teachers, Clark and Seligman, with uncrippled ardor.

Yet I came to realize that Day was a better economist than we then assumed. It was not possible for him to follow the marginal utility calculus into a field of abstractions divorced from the comprehension of the ordinary citizen. Any man, however sodden in business thinking, could follow John Stuart Mill, agreeing, or most likely disagreeing. Only the intellectual elite could follow Menger and Wieser and Böhm[-]Bawerk, Marshall and Clark, Fisher and Fetter.

If Day were living he would find justification for his repugnance to the marginal utility theories. Keynes, an adept in marginal theory, shifted the emphasis from value to price.

Said Chesterfield, “In mixed company I always talk bawdy, for that is something in which all men can join.” Keynes always talked price. Day, prematurely, talked price, believed in talking price. There was no place for him in the marginal utility universe of talk, of those days. But I surmise, Day was a good deal of a man.

[signed]
Alvin Johnson

 

Source:  Columbia University Libraries, Manuscript Collections. Joseph Dorfman Collection, Box 13, Folder “C.U. Dept.al history”.

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From the Columbia College Catalogue, 1898-99

Economics A—Outlines of Economics—Recitations, lectures, and essays. 3 hours, second half-year. Professor Mayo-Smith and Mr. Day. [Economics A was required of juniors in the College, and open to sophomores who have taken economics I.]

Economics 1—Economic history of England America—Selected textbooks, recitations, essays, and lectures. 3 hours, first half-year. Professor Seligman and Mr. Day. [Economics I was open to juniors and qualified sophomores in the College.]

[Note: p. 11 under officers of instruction, Assistants. Address given as 128 West 103d Street.]

Source:  Columbia University in the City of New York. Catalogue 1898-99, p. 74.

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1900 U.S. Census

Name: Arthur M Day
Age:    33
Birth Date:     Apr 1867
Birthplace:      Connecticut
Home in 1900:           Danbury, Fairfield, Connecticut
Ward of City: 2
Street: Westoria Avenue
House Number:          28
Race:   White
Gender:           Male
Relation to Head of House:   Son
Marital Status:           Single
Father’s name:            Josiah L Day
Father’s Birthplace:    New York
Mother’s name:          Ellen L Day
Mother’s Birthplace:  Connecticut
Occupation:    College Instructor
Months not employed:         0
Can Read:       Yes
Can Write:      Yes
Can Speak English:    Yes
Household Members:

Josiah L Day  60
Ellen L Day    58
Arthur M Day           33

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From Mortarboard 1902
[Barnard College Yearbook]

Leisure Hours of Great Men
or
Intimate Glimpses of the World’s Workers at Play

Arthur Morgan Day

It is certainly pathetic
How he smothers the aesthetic
Under money, banking, trusts and corporations,
But he soothes his longing heart,
Studying dramatic art,
And high tragedy completes his aspirations.

Source: 1902 Mortarboard , p. 71.

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From the Columbia Daily Spectator, 1902

Mr. Day Resigns

Mr. A. M. Day, Instructor in Economics, has resigned his position at Columbia to take a position on the new Tenement House Commission of New York City. He is to serve as one of two men to take charge of registration and compilation of statistics of tenement houses in the boroughs of Manhattan and Brooklyn. Mr. Henry Raymond Mussey, Fellow in the Department, has taken Mr. Day’s position as instructor in Economics for the time being. Mr. Mussey has already acquired much popularity and confidence among the students in his classes.

*  *  *  *  *

Congratulations for Mr. Day.

The members of the Course Economics I have sent the following message of congratulation to their instructor, upon his appointment as chief of the Bureau of Statistics of the New York City Tenement House Commission. “We the undersigned members of the course, Economics I, of the current University year, having heard with pleasure of the great honor which has been conferred upon our former instructor Mr. Arthur Morgan Day, desire to extend to him our sincere congratulations and to assure him of our best wishes for a successful career in his new office.

 

Source:  Columbia Daily Spectator, Volume XLV, Number 42, 21 March 1902, page 1.

_______________

From Harvard College Class of 1892 Reports

Arthur Morgan Day (1892)

[Joined the Harvard Class of 1892 in the junior year, received A.B. together with the degree of A.M.]
Honorable Mention: English Composition; Political Economy; History.

 

Source:  Secretary’s Report Harvard College Class of 1892, Number I, (1893), pp. 6, 27, 29.

 

*  *  *  *  *

Arthur Morgan Day (1896)

“1892-93, graduate student in History and Economics, H.U.; 1893-94, graduate student in History and Economics and assistant in History, H.U.; 1894-95, assistant in Economics, School of Political Science, Columbia College; 1895-96, assistant and lecturer in Economics, School of Political Science, Columbia College, and lecturer in Economics, Barnard College.”

Published “Syllabus of six lectures on ‘Money’ for Extension Department of Rutgers College, 1895.”

Delivered “six lectures on ‘Money,’ Univ. Ex. course, New Brunswick, N.J., December-January, 1894-95; two lectures on ‘Monetary Literature in U.S.’ in course of ‘Free Lectures to the People,’ under direction of Board of Education, N.Y.”

Source:  Secretary’s Report Harvard College Class of 1892, Number II, (1896), pp. 30-31.

*  *  *  *  *

Arthur Morgan Day (1902)

From 1892 to 1894 was graduate student in History and Economics at Harvard; 1893-4, was assistant in History at Harvard; 1894-1902, was successively assistant lecturer, and instructor in Economics at Columbia and Barnard Colleges, and also assistant editor of “Political Science Quarterly” and “Columbia University Quarterly “; in March, 1902, resigned from Columbia to become Registrar of the Tenement House Department of New York City for Brooklyn, Queens, and Richmond.

Has given numerous courses of lectures for the New York Board of Education; has lectured also in extension department of Rutgers College and in the Educational Alliance. Has published syllabi of lectures on “Money” and “Economic History”, signed reviews in the “Political Science Quarterly” and elsewhere, and editorials in a New York daily. Assisted in the preparation of Seligman’s “Essays in Taxation” and “Incidence of Taxation”, Giddings’ “Democracy and Empire “, Clark’s “Distribution of Wealth,” and the second edition (rewritten) of White’s “Money and Banking.”

Source:  Harvard College, Record of the Class of 1892. Secretary’s Report No. III for the Tenth Anniversary (1902),  pp. 46-47.

*  *  *  *  *

Arthur Morgan Day (1907)

Son of Josiah Lyon Day and Ellen Louisa (Baldwin) Day. Born at Danbury, Connecticut, April 12, 1867. Prepared for college at the Danbury High School.

Received A.M. in 1892. From 1892 to 1894 was a graduate student in History and Economics at Harvard; 1893-94, was Assistant in History at Harvard; 1894-1902, was successively Assistant, Lecturer, and Instructor in Economics at Columbia and Barnard Colleges; also Assistant Editor of Political Science Quarterly and Columbia University Quarterly; in March, 1902, resigned from Columbia to become Registrar of the Tenement House Department of New York City for Brooklyn, Queens, and Richmond. In May, 1902, resigned Registrarship to become Assistant to President of Manhattan Trust Co.; in July, 1903, was made Secretary and Treasurer of Casualty Company of America; in January, 1905, entered publicity business. Has published syllabi of lectures on “Money” and “Economic History,” signed reviews in the Political Science Quarterly and elsewhere, and editorials in a New York daily. Assisted in the preparation of Seligman’s “Essays in Taxation” and ” Incidence of Taxation,” Giddings’ “Democracy and Empire,” Clark’s “Distribution of Wealth,” and the second edition (rewritten) of White’s “Money and Banking.” Belongs to Harvard Club of New York.

Source:  Secretary’s Report for the Fifteenth Anniversary. Harvard College Class of 1892, Number IV, (1907), p.48.

*  *  *  *  *

Arthur Morgan Day (1912)

Son of Josiah Lyon Day and Ellen Louisa (Baldwin) Day. Born at Danbury, Connecticut, April 12, 1867. Prepared for college at the Danbury High School.

Attended Harvard 1888-92, A.B. and A.M.; Graduate School 1892-94.

1892 to 1894, graduate student in history and economics at Harvard; 1893-94, assistant in history at Harvard; 1894-1902, successively assistant, lecturer, and instructor in economics at Columbia and Barnard colleges; also assistant editor of Political Science Quarterly and Columbia University Quarterly; in March, 1902, resigned from Columbia to become registrar of the Tenement House Department of New York City for Brooklyn, Queens, and Richmond. In May, 1902, resigned registrarship to become assistant to president of Manhattan Trust Company; in July, 1903, was made secretary and treasurer of Casualty Company of America; in January, 1905, entered publicity business; in June, 1906, employed by United Gas Improvement Company of Philadelphia; in August, 1906, serious attack of typhoid caused long absence from business; in June, 1908, with Blair & Co., bankers, New York; in April, 1910, began independent work as financial agent for various clients; in January, 1912, entered bond department of Prudential Insurance Company at Newark. Has published syllabi of lectures on “Money” and “Economic History,” signed reviews in the Political Science Quarterly and elsewhere, and editorials in a New York daily. Assisted in the preparation of Seligman’s “Essays in Taxation” and “Incidence of Taxation,” Giddings’ “Democracy and Empire,” Clark’s “Distribution of Wealth,” and the second edition (rewritten) of White’s “Money and Banking.” Belongs to Harvard Club of New York.

Source:  Secretary’s Report for the Twentieth Anniversary. Harvard College Class of 1892, [Number V, (1912)], p.54.

*  *  *  *  *

Arthur Morgan Day (1917)

Born at Danbury, Conn., April 12, 1867. Son of Josiah Lyon and Ellen Louisa (Baldwin) Day. Prepared for College at Danbury High School, Danbury, Conn.

Attended Harvard:  1888-92; Graduate School, 1892-94.

Degrees: A.B. and A.M. 1892.

Occupation: Investments.

Address: (home) 28 Westville Ave., Danbury, Conn.; (business) 37 Wall St., New York, N.Y

FROM 1892 to 1894 I was a graduate student in history and economics at Harvard, and during 1893-94 I was assistant in history at Harvard. From 1894 to 1902 I was successively assistant, lecturer, and instructor in economics at Columbia and Barnard colleges; also assistant editor of the Political Science Quarterly and the Columbia University Quarterly. In March, 1902, I resigned from Columbia to become registrar of the Tenement House Department of New York City for Brooklyn, Queens, and Richmond. I held this position until May, 1903, when I resigned to become assistant to the president of the Manhattan Trust Company. In July, 1903, I was made secretary and treasurer of the Casualty Company of America; and in January, 1905, I entered publicity business. I was employed by the United Gas Improvement Company of Philadelphia in June, 1906, but a serious attack of typhoid fever in August of that year caused a long absence from business. In June, 1908, I was with Blair & Co., bankers, in New York, and in April, 1910, I began independent work as financial agent for various clients. In January, 1912, I entered the bond department of the Prudential Insurance Company at Newark, and since December 1, 1915, I have been with Wood, Struthers & Co., bankers, 37 Wall St., N. Y.

Publications: Syllabi of lectures on “Money” and “Economic History,” signed reviews in the Political Science Quarterly and elsewhere, and editorials in a New York daily. Assisted in the preparation of Seligman’s “Essays in Taxation” and “Incidence of Taxation,” Giddings’ “Democracy and Empire,” Clark’s “Distribution of Wealth,” and the second edition (rewritten) of White’s “Money and Banking.”

Clubs and Societies: Harvard Club of New York.

Source:  Secretary’s Report for the Twenty-Fifth Anniversary. Harvard College Class of 1892, Number VI, (1917), pp. 68-69. Includes Graduation picture.

*  *  *  *  *

Arthur Morgan Day (1922)

Born at Danbury, Conn., April 12, 1867. Son of Josiah Lyon and Ellen Louisa (Baldwin) Day. Prepared for College at Danbury High School, Danbury, Conn.

Attended Harvard: 1888-92; Graduate School, 1892-94.
Degrees: A.B. and A.M. 1892.

Occupation: Investments.
Address: (home) 152 Deer Hill Ave., Danbury, Conn.; (business) 5 Nassau St., New York, N.Y.

Since December 1, 1915, I have been with Wood, Struthers & Co., bankers, 5 Nassau Street, New York.

Clubs and Societies: Harvard Club of New York.

Source:  Harvard College Class of 1892, Thirtieth Anniversary Report, Number VIII, (1922), p. 70.
[note: Number IX, June 19-22, 1922 is the Supplementary Report of the Thirtieth Anniversary Celebration]

_______________

From the State of Connecticut, Military Census of 1917

State of Connecticut

By direction of an act of the Legislature of Connecticut, approved February 7th, 1917, I am required to procure certain information relative to the resources of the state. I therefore call upon you to answer the following questions.

MARCUS H. HOLCOMB, Governor.

TOWN or CITY: Danbury
DATE: March 4, 1917
POST OFFICE ADDRESS: 28 Westville Ave.

  1. What is your present Trade, Occupation or Profession ? Banking and Brokerage
  2. Have you experience in any other Trade, Occupation or Profession? College Professor
  3. What is your Age? 49
    Height? 5 ft 8 in
    Weight? 165
  4. Are your Married? Single? or Widower? Single
  5. How many persons are dependent on you for support? None wholly
  6. Are you a citizen of the United States? Yes
  7. If not a citizen of the United States have you taken out your first papers? [not applicable]
  8. If not a citizen of the United States, what is your nationality? [not applicable]
  9. Have you ever done any Military or Naval Service in this or any other Country? No
    Where? [not applicable]
    How Long? [not applicable]
    What Branch? [not applicable]
    Rank? [not applicable]
  10. Have you any serious physical disability? Yes
    If so, name it. Near sighted
  11. Can you do any of the following:
    Ride a horse? [No]
    Handle a team? [No]
    Drive an automobile? [No]
    Ride a motorcycle? [No]
    Understand telegraphy? [No]
    Operate a wireless? [No]
    Any experience with a steam engine? [No]
    Any experience with electrical machinery? [No]
    Handle a boat, power or sail? [No]
    Any experience in simple coastwise navigation? [No]
    Any experience with High Speed Marine Gasoline Engines? ? [No]
    Are you a good swimmer? [Yes]

I hereby certify that I have personally interviewed the above mentioned person and that the answers to the questions enumerated are as he gave them to me.

[signed]
Chas A Stallock[?]
Military Census Agent

Source: Connecticut Military Census of 1917. Hartford, Connecticut: Connecticut State Library. [available as database on-line at Ancestry.com]

 

Image Source: Class portrait and current portrait (ca 1917) of Arthur Morgan Day from Secretary’s Report for the Twenty-Fifth Anniversary. Harvard College Class of 1892, Number VI, (1917), pp. 68-69.

 

Categories
Columbia Syllabus

Columbia. Course outline, Railroad Problems. Seligman, 1898-1904

 

The following course outline was found in the papers of the historian of American economic thought, Joseph Dorfman. It has neither date nor instructor listed but from the Columbia University catalogues and the Bulletins of the Faculty of Political Science we can conclusively determine that the second semester course with this name and number was taught by E.R.A. Seligman every other academic year beginning 1897-98 going through 1903-04. He also taught the course in earlier years (course number VIII) and later years (course number 108).

___________________

Course Description

Economics 7 — Railroad Problems; Economic, Social and Legal. — These lectures treat of railroads in the fourfold aspect of their relation to the investors, the employees, the public and the state respectively. A history of railways and railway policy in America and Europe forms the preliminary part of the course. The chief problems of railway management, so far as they are of economic importance, come up for discussion.

Among the subjects treated are: Financial methods, railway construction, speculation, profits, failures, accounts and reports, expenses, tariffs, principles of rates, classification and discrimination, competition and pooling, accidents, and employers’ liability. Especial attention is paid to the methods of regulation and legislation in the United States as compared with European methods, and the course closes with a general discussion of state versus private management. — Two hours a week, second half-year (1899-1900): Prof. [Edwin R. A.] Seligman.

Source: Columbia University, School of Political Science, Announcement, 1898-99, pp. 29-40.

___________________

COLUMBIA UNIVERSITY
ECONOMICS 7

OUTLINE OF LECTURES
ON
RAILROAD PROBLEMS:
ECONOMIC, SOCIAL AND LEGAL

  1. The problems stated.
  2. Literature of the subject.

BOOK I. HISTORY OF RAILWAYS AND RAILWAY POLICY.

Chapter I. England.

  1. Turnpikes and canals.
  2. Genesis of the railway system and development to the investigation of 1844.
  3. Development to Cardwell’s Act of 1854.
  4. Development to Railway Commission of 1873.
  5. Commission of 1881-1882.
  6. Railway and Canal Traffic Act of 1888.
  7. Present conditions and outlook.

Chapter II. United States.

  1. Highroads and internal improvements.
  2. The Erie Canal and Mississippi River.
  3. Genesis and development of the railway system.
  4. The early charters.
  5. Railway consolidation.
  6. Sleeping car and express companies.
  7. Fast freight lines, co-operative and joint-stock.
  8. Pools and traffic associations to 1877.
    1. Chicago-Omaha Pool.
    2. Southern Railway and Steamship Association.
    3. Southwestern Rate Association.
  9. Trunk Line combinations to 1877.
    1. Saratoga Conference.
    2. Railway wars of 1874-1876.
    3. Live stock pool and evening system.
    4. Standard oil contract and petroleum pool.
    5. Anthracite coal pool.
  10. Trunk line pools 1877-1887.
    1. West bound pool.
    2. East bound pool
    3. Joint Executive Committee of 1879.
    4. Railway wars and Trunk Line organization of 1885.
  11. Railway co-operation 1887-1898.
    1. The Inter-state Commerce Act of 1887.
    2. The Anti-Trust Law of 1890.
  12. Present outlook

Chapter 3. Other Countries.

  1. Belgium. The mixed system.
  2. France. Division of the field.
    1. Development to the law of 1842.
    2. Development to the law of 1859.
    3. Development to the law of 1884.
    4. Present outlook.
  3. Germany. Government ownership.
  4. Italy. System of leases.
    1. The law of 1865.
    2. The agreements of 1885.
  5. Holland, Austria and other European countries.
  6. Australia and the British colonies.
  7. Comparison with the rest of the world.

BOOK II. THE RAILWAYS AND THE INVESTORS.

  1. The railway as a corporation.
  2. Financial methods.
    1. The financing of a railway.
    2. Conflict of interests between directors, stockholder and bondholders.
  3. Railway Construction.
    1. Cost of railways in America and Europe.
    2. Construction companies.
    3. Other subordinate corporations.
    4. Parallel roads.
  4. Railway speculation.
    1. Stock exchange speculation.
    2. Railways and commercial crises.
  5. Railway profits.
    1. Stock watering.
    2. Limitation of dividends.
  6. Railway failures and receiverships.
  7. Railway accounts and reports.

BOOK III. THE RAILWAYS AND THE PUBLIC

  1. Railway competition.
    1. The law of competition.
    2. Competition and combination.
    3. Competition for the field.
    4. Competition with waterways.
    5. Competition of carriers on the line.
    6. Separation between motor and carrier.
    7. Running powers or working arrangements.
  2. Railway expenses.
    —Fixed charges and operating expenses.
  1. Railway tariffs.
    1. Principle of railway rates.
    2. Cost of service principle.
    3. Value of service principle or charging what the traffic will bear.
    4. Relation between the two principles.
  2. Classification of Rates.
    1. Theory of classification.
    2. History and practice of classification in Europe and America.
  3. Personal discriminations.
    1. Allowance for quantity.
    2. Rebates and special rates.
  4. Local discriminations.
    1. History and practice of local discriminations.
    2. Just and unjust discriminations.
    3. Principle of profits vs. principle of tolls.
    4. Sliding scale or zone system.
    5. Pro-rata or equal mileage, and short-haul rates.
      —Other projected reforms.
    6. Differentials between cities and export trade.
  5. Pools.
    —Money pools vs. traffic pools.
  1. Extortion and reduction in rates.
    —Comparison of European and American rates.
  1. Passenger rates.
    —The Zone system in Austria-Hungary.
  1. Accidents.

BOOK IV. THE RAILWAYS AND THE EMPLOYEES

  1. Employers’ liability for accidents.
    —Comparison of European and American legislation.
  2. Railway strikes. Especially strikes of 1877 and 1886.
  3. Profit sharing and other schemes.
  4. Relief associations. Compulsory and private insurance.
    1. Insurance against sickness.
    2. Insurance against accidents.
    3. Insurance against dishonesty. Guarantee funds.

BOOK V. THE RAILWAYS AND THE STATE.

  1. Early State legislation.
  2. The Granger movement and its results.
  3. Maximum and minimum laws.
  4. Pro-rataand short-haul laws.
  5. Laws requiring improved facilities.
  6. General railroad acts.
  7. State and national aid to railroads. Land grants, etc.
  8. Railway taxation.
    1. Basis—Taxation of franchise, property, gross earnings, net income, etc.
    2. Double taxation. Inter-state complications.
  9. State railroad commissions.
    1. Compulsory commissions.
    2. Advisory commissions.
  10. National Legislation.
    1. Early attempts.
    2. The Reagan and Cullom bills.
    3. The Inter-state Commerce Law of 1887.
  11. The Inter-state Commerce Commission.
    1. Character of decisions.
    2. Powers and duties.
    3. Comparison with English commission.
    4. Projected amendments.
  12. Present outlook and prospects.
  13. General conclusion as to State vs. private ownership and management.
    1. Financial arguments.
    2. Political arguments.
    3. Socio-economic arguments.

 

Source:  Columbia University Libraries. Manuscript Collections. Joseph Dorfman Collection.Box 13. Folder “Economics History Project”.