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Economists Harvard Stanford

Harvard. Economics Ph.D. Alumnus, W. Glenn Campbell, 1948

 

In the last post we came across a young co-instructor for Harvard’s Principles of Economics course during the 1949-50 academic year, Wesley Glenn Campbell. This 1948 Harvard Ph.D. went on to become “the man who built the Hoover Institution“.

Campbell was born April 19, 1924 in Lobo Township in Ontario, Canada and died November 24, 2001 in Los Altos Hills, California. He was married to fellow economist, Rita Ricardo-Campbell.

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Ph.D. Thesis

Wesley Glenn Campbell, B.A. (Univ. of Western Ontario) 1944, A.M. (Harvard Univ.) 1946.

Subject, Economics. Special Field, Public Finance. Thesis, “Impact of Social Security Expenditures on Canadian Government Finance.”

Source: Harvard University. Report of the President of Harvard College, 1947-48, p. 174.

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From the national press

“…his conservative thinking prompted Harvard colleagues, in his view, to force him out for political reasons. Dr. Campbell served as research economist for the U.S. Chamber of Commerce from 1951 to 1954, then as director of research for the American Enterprise Association in Washington, until Hoover tapped him to move to Stanford.”

Source:  From the Washington Post obituary (December 1, 2001).

“President Herbert Hoover appointed Dr. Campbell to head the Hoover Institution in an effort to keep what Hoover called left-wingers from gaining control of it. Three months after Mr. Campbell’s appointment, the Stanford faculty tried to end the institution’s autonomy and put it under direct university control. Hoover, then 86, ended this initiative with the flick of his pen.”

Source: From the New York Times obituary (November 28, 2001)

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Stanford Obituary

W. Glenn Campbell, the outspoken director of the Hoover Institution who built it into an internationally known think tank, died Nov. 24 of a heart attack at his home in Los Altos Hills. He was 77.

A funeral service will be held at 1 p.m. Thursday at the Los Altos Chapel of Spangler Mortuaries at 399 San Antonio Road. Plans for a memorial service on campus are pending.

Hoover Director John Raisian said that his predecessor, who retired in 1989, “served this institution magnificently. He was an institution builder, an advocate of freedom and a contributor to our nation’s well-being.”

In 1960, Campbell, a free-market economist, was handpicked by former President Herbert Hoover to run his library. Under Campbell’s 29-year leadership, the Hoover Institution on War, Revolution and Peace grew into a powerful think tank. Its endowment grew from $2 million to more than $125 million and it more than tripled in size physically.

“He was the man who built the Hoover Institution,” said Senior Fellow Melvyn Krauss. “And he was an early founder of think tanks in the United States. He was a terrific fundraiser and he brought outstanding people to Hoover.”

Former U.S. Secretary of State George Shultz said Campbell’s guiding idea in both politics and economics was his “continual fight for freedom. That led him to all sorts of positions that were controversial at the time, but not anymore,” Shultz said. “He was a dedicated anti-Communist and a severe critic of the Soviet Union. Now people say, ‘You were right after all.'” He was also dedicated to market solutions, not government solutions, to economic problems, Shultz said.

Senior Fellow Bruce Bueno de Mesquita said Campbell successfully turned an obscure library into one of the world’s leading think tanks. “We had possibly one of the largest sets of Nobel laureates in economics affiliated with Hoover,” he said. Campbell chafed at the description of Hoover as a conservative think tank, Bueno de Mesquita said: “Glenn was much broader in his vision. He hired extraordinary people. Glenn did have a political side but also an academic side.” The fellows included economist Milton Friedman; physicist Edward Teller, designer of the hydrogen bomb; Soviet expert Robert Conquest; and Shultz.

Krauss said Campbell successfully hired high-profile stars, such as Friedman, after they retired from other institutions. At first, “it was tough for us to get mainline people,” he said. “Glenn was ingenious in his strategy of creating ‘over-age’ appointments.” And by establishing joint appointments between Hoover and Stanford departments, a move that allowed scholars to earn a higher salary, Krauss said, the university became more competitive in attracting top people.

Campbell was a longtime supporter of former President Ronald Reagan, whom he met when the one-time actor ran for governor of California. In 1968, Reagan appointed Campbell to the Board of Regents of the University of California. He served as a regent for 28 years, often clashing with UC’s administration. In 1969, for example, he sided with Reagan in his crackdown on student protests over the Vietnam War.

Krauss said that Campbell’s close relationship with Reagan benefited Hoover. “When he became president, we had a bonanza,” he said. Many of the fellows went on to serve in Washington, D.C., and helped create the ideological framework for the “Reagan revolution.”

Referring to the Hoover Institution book, The United States in the 1980s, former Soviet leader Mikhail Gorbachev said, “We have read this book and have watched all its programs become adopted by the Reagan administration.”

Campbell’s close relationship with the Republican Party, however, often caused him to have run-ins with Stanford. In 1987, the university thwarted Campbell’s effort to bring the Ronald Reagan Presidential Library and Public Affairs Center to campus. Stanford’s trustees extended to Reagan an invitation to build the library, but not the public affairs center, concerned that the latter would turn into a conservative think tank. Reagan initially accepted the offer but later established his library in Southern California.

A year later, the trustees, citing a mandatory retirement age policy, informed Campbell that he would have to retire in 1989, the year he turned 65. Campbell fought to stay on but, after securing a generous retirement package, stepped down and was appointed counselor to the director. In 1994, Campbell was named director emeritus.

Campbell was born on a farm in Lobo Township in Ontario, Canada. He graduated from the University of Western Ontario in 1944 with honors in economics and political science. In 1948, he graduated from Harvard University with a doctorate in economics.

Campbell is survived by his wife of 55 years, Rita Ricardo-Campbell, a Hoover senior fellow emerita; sisters Marjorie Wyatt and Evelyn McClary of Ontario, Canada; daughters Nancy Yaeger of Los Angeles, Diane Campbell of Irvine and Barbara Gray of Walnut Creek; and four grandchildren.

Source: Lisa Trei, “Glenn Campbell, former Hoover director, dead at 77”, Stanford Report, November 28, 2001.

Image source: Image reduced from portrait ca. 1965 of Wesley Glenn Campbell in the Campbell Family Tree 2 at ancestry.com

Categories
Harvard Suggested Reading Syllabus Undergraduate

Harvard. Principles of Economics. Course outline, readings, exam questions, 1949-50

 

Of particular interest in this two-track (for economics concentrators and non-concentrators, respectively) principles of economics course is that the Keynesian Cross chapter (XII) of Paul Samuelson’s new textbook Economics was assigned in the concentrators’ version.

The course was taught by Professor Burbank and the newly minted Harvard Ph.D. Wesley Glenn Campbell who would later be hand-picked by former President Herbert Hoover to head to the Hoover Institution.

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Course Description

ECONOMICS
1949-50

Primarily for Undergraduates

Economics 1 (formerly Economics Aa and Ab). Principles of Economics

Full course. Tu., Th., Sat., at 11. This course is conducted by sections. It will be divided into sections for concentrators and for non-concentrators. There will be sections at other hours. (Radcliffe sections will meet Tu., Th., Sat., at 11 and at such other times as the enrolment may justify.) Professor BURBANK, Dr. [Wesley Glenn] CAMPBELL [Harvard Ph.D., 1948], and other MEMBERS OF THE DEPARTMENT.

Economics 1 may be taken by properly qualified Freshmen with the consent of the instructor.

Economics 1 provides an introduction to the principles required for the analysis of economic problems. The development of principles in the main fields of economics and the study of economic organization give the non-concentrator a background for the understanding of economic problems and are indispensable for the concentrator’s further work in advanced courses.

 

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 4, Folder “Economics, 1949-1950 (1 of 3)”.

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Course Enrollment

[Economics] 1 (formerly Economics Aa and Ab). Principles of Economics. (Full Co.) Professor Burbank, Dr. Campbell, and other Members of the Department.

(Fall) Total 441: 1 Graduate, 16 Seniors, 68 Juniors, 220 Sophomores, 110 Freshmen, 21 Radcliffe, 5 Special.
(Spring) Total 434: 1 Graduate, 18 Seniors, 72 Juniors, 240 Sophomores, 73 Freshmen, 26 Radcliffe, 4 Special.

 

Source: Harvard University. Annual Report of the President of Harvard College, 1949-50, p. 72.

 

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ECONOMICS I—CONCENTRATORS
1949-50
First Half

Sources:

Benham and Lutz Economics, American Edition (1941)
*Bowman and Bach Economic Analysis and Public Policy, Second Edition (1949)
Burns, Neal & Watson Modern Economics(1948)
Hart, A.G. Money, Debt, and Economic Activity(1948)
Merrill, Lynch, et al, How to Read a Financial Report
*Peach and Krause Basic Data of the American Economy, Revised Edition, (1949)
Peterson, S. Economics(1949)
Schumpeter, J. A. Capitalism, Socialism, and Democracy
Slichter, S. H. Modern Economic Society(1931)
Slichter, S. H. The American Economy(1948)
Williamson, H. F. The Growth of the American Economy

*To be purchased by students.

 

PART I. Introduction

  1. The Economic Problem
    Benham: Ch. 1, General Survey
  2. Economic Institutions and Economic Development
    Burns: Ch. 2, Change and Growth in the Economy
    Bowman & Bach: Ch. 6, Economic Analysis and Public Policy

PART II. National Income, Money, Banking and Price Levels

  1. National Income
    Burns: Ch. 4, National Income and National Output
    Peach & Krause: Section I, National Income
  2. Money, Banking and Price Levels
    Merrill, Lynch, et al.: How to Read A Financial Report
    Peach & Krause: Section 4, Money and Banking
    Peterson: Ch. 10, Exchange Media. Hand-to-Hand Money
    Bowman & Bach: Ch. 10, The Banking System, the Money Supply, and Investment; Ch. 11, The Government and the Money Supply
    R.B.: Banking and Monetary Statistics, Section 10, pp. 360-366
    National Debt Series: 2, Our National Debt and the Banks; 3, Our National Debt and Interest Rates; 6, Our National Debt and Life Insurance
    Hart: Ch. 10, Inflation and Deflation

PART III. Role of Markets in the Allocation of Resources and the Determination of Relative Prices

  1. Markets—An Introduction to the Problems of Production, Distribution, Exchange and Consumption
    Bowman & Bach: Ch. 2, Income and Consumption; Ch. 3, The Economic System—A Summary View; Ch. 4, Private Enterprise, Profits, and the Price System; Ch. 5, Business Enterprise in the Modern Economy—omit appendix
  2. Price Determination and Resource Allocation
    Bowman & Bach: Book III, Production, Individual Prices, and the Allocation of Resources
    Williamson: Ch. 25, The Location of Economic Activity
    Benham: Ch. 2, Markets, pp. 38-46
    Slichter: Ch. 10, Speculative Production, pp. 215-221
  3. Public Control of Markets
    Bowman & Bach: Ch. 33, Government Policy and Business Practice
    Schumpeter: Ch. 8, Monopolistic Practices
    Peterson: Ch. 23, Market Control Policies in the United States, pp. 618-631
    Peach & Krause: Section 9, Agriculture
  4. The Productive Performance of the American Economy
    Slichter: Ch. 1, The American Economy; Ch. 6, How Good is the American Economy
    Peach & Krause: Section 2, Population and the Working Force in the United States
    Peach & Krause: Section 3, National Resources

 

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Lecture Schedules and Reading Lists, 1942-1970”, Subfolder “49-55”.

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ECONOMICS I—NON-CONCENTRATORS
1949-50
First Half

Sources:

Arnold, T. The Bottlenecks of Business(1940)
Benham and Lutz Economics, American Edition (1941)
Bowman and Bach Economic Analysis and Public Policy, Second Edition (1949)
*Federal Reserve System Federal Reserve Charts on Bank Credit, Money Rates and Business(Latest edition)
Hart, A.G. Money, Debt, and Economic Activity(1948)
Johnson, E. A. J. Some Origins of the Modern Economic World
Merrill, Lynch, et al., How to Read a Financial Report
*Peterson, S. Economics(1949)
Slichter, S. H. Modern Economic Society(1931)
*Slichter, S. H. The American Economy(1948)
Williamson, H. F. The Growth of the American Economy
*Wright, D. M. Democracy and Progress

*To be purchased by students.

 

PART I. Introduction

  1. The Economic Problem
    Benham: Ch. 1, General Survey
  2. Economic Institutions and Economic Development—An Historical Approach
    Johnson: Ch. 2, The Late-Medieval Background; Ch. 3, The Emergence of Capitalism; Ch. 4, The Beginnings of Scientific Technology
    Williamson: Ch. 3, The Organization of Production During the Colonial Period
    Bowman & Bach: Ch. 6, Economic Analysis and Public Policy

PART II. The Role of Markets in the Allocation of Resources and the Determination of Relative Prices

  1. A Comprehensive View of the Market System
    Peterson: Ch. 2, The Occupational and Industrial Structure; Ch. 3, Production and Income—Individual and National; Ch. 4, Framework and Problems of the Economic System
  2. The Determinants of Productive Power and the Organization of Production Under Capitalism
    Peterson: Ch. 5, Natural and Human Resources; Ch. 6, Capitalistic Production; Ch. 7, The Organization of Production; Ch. 8, Business Enterprise and the Corporate Form
    Merrill, Lynch, et al.: How to Read a Financial Report
    Peterson: Ch. 9, Finance, pp. 207-214 and 221-236
    Williamson: Ch. 14, The Capital Markets, 1789-1860; Ch. 28, The Investment Market After the War Between the States
  3. Price Determination and Resource Allocation
    Peterson: Ch. 17, The Role of Prices; Ch. 18, Supply, Demand, and Market Price
    Benham: Ch. 2, Markets, pp. 38-46
    Slichter: Ch. 10, Speculative Production, pp. 215-221
    Peterson: Ch. 19, Nature and Role of Demand and its Elasticity; Ch. 20, Cost and the Expansion and Contraction of Industries
    Williamson: Ch. 25, The Location of Economic Activity
    Peterson: Ch. 21, Output from Existing Capacity
  4. Public Regulation of Markets
    Peterson: Ch. 22, Monopoly and the Public Interest
    Williamson: Ch. 30, Industrial Concentration and Government anti-Trust Policy
    Arnold: Ch. 2, How Restraints of Trade Affect Your Standard of Living; Ch. 3, How Restraints of Trade Unbalance the National Budget; Ch. 7, Procedure under the Sherman Act; Ch. 8, The Clarification of Law; Appendix I
    Peterson: Ch. 23, Market Control Policies in the United States
    Wright: Ch. 8, The Problems of Competition
  5. The Production and Distribution of Wealth
    Slichter: Ch. 1, The American Economy; Ch. 6, How Good is the American Economy
    Wright: Ch. 7, Economic Goals and the Distribution of Wealth

PART III. Money, Banking, Price Levels and the National Income

  1. Money, Banking and Price Levels
    Peterson: Ch. 10, Exchange Media. Hand-to-Hand Money
    Bowman & Bach: Ch. 10, The Banking System, the Money Supply, and Investment; Ch. 11, The Government and the Money Supply
    R.B.: Banking and Monetary Statistics, Section 10, pp. 360-366
    National Debt Series: 2, Our National Debt and the Banks; 3, Our National Debt and Interest Rates; 6, Our National Debt and Life Insurance
    Hart: Ch. 10, Inflation and Deflation
  2. Mechanics of the International Monetary Exchange
    Benham: Ch. 26, Balance of Payments
    Hart: Ch. 15, The Foreign Exchange Market
    Benham: Ch. 27, Free Exchange Rate; Ch. 28, The Gold Standard

 

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Lecture Schedules and Reading Lists, 1942-1970”, Subfolder “49-55”.

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ECONOMICS I—CONCENTRATORS
1949-50
Second Half

Sources:

Benham and Lutz Economics, American Edition (1941)
*Bowman and Bach Economic Analysis and Public Policy,Second Edition (1949)
**Committee for Economic Development The Uses and Dangers of Direct Controls in Peacetime
**Economic Outlook Consumers, Workers Pay Cost of New Factories
Hart, A. G. Money, Debt, and Economic Activity(1948)
**International Bank for Reconstruction and Development Fourth Annual Report, 1948-49
**International Monetary Fund Annual Report, 1949
**Murray, P. The Steelworkers’ Case for Wages, Pensions and Social Insurance
*Peach and Krause Basic Data of the American EconomyRevised Edition (1949)
Peterson, S. Economics(1949)
Samuelson, P. Economics
Slichter, S. H. Basic Criteria Used in Wage Negotiations
**Slichter, S. H. Profits in a Laboristic Society
**Slichter, S. H. The Taft-Hartly Act
**Steel Industry Board Report to the President of the United States
**Voorhees, E. M. Statement before the Presidential Steel Board
Wright, D. M. Democracy and Progress

* To be purchased by students
**To be handed out in section meeting.

 

PART IV. The Distribution of Income

  1. Introduction
    Bowman & Bach: Ch. 28, Introduction to the Study of Income Distribution
  2. Personal Income Distribution
    Bowman & Bach: Ch. 29, Personal Income Distribution in the United States
    Wright: Ch. 7, Economic Goals and the Distribution of Wealth
  3. Determination of Returns to the Factors of Production
    Bowman & Bach: Ch. 30, Wage and Salary Income; Ch. 32, Property Income
  4. Labor Organization and Labor Markets
    Bowman & Bach: Ch. 31, The Economics of Labor Unionism
    Slichter: Basic Criteria Used in Wage Negotiations, pp. 7-31, and 36-40
    Bowman & Bach: Ch. 35, Government Policy and Labor, pp. 651-673
    Slichter, The Taft-Hartley Act
  5. The Wages, Pensions, Prices and Profits Controversy
    Economic Outlook: Consumers, Workers Pay Cost of New Factories
    Slichter: Profits in a Laboristic Society
    Murray, The Steelworkers’ Case for Wages, Pensions and Social Insurance, pp. 9-29
    Voorhees, Statement before the Presidential Steel Board
    Steel Industry Board, Report to the President of the United States, pp. 1-11

PART V. International Economic Problems

Benham: Ch. 25, The Theory of International Trade; Ch. 26, Balances of Payments
Peach & Krause: Section 5, International Trade and Finance
Hart: Ch. 15, The Foreign Exchange Market
Benham: Ch. 27, Free Exchange Rates; Ch. 28, The Gold Standard; Ch. 29, Exchange Control; Ch. 30, Import Duties and Quotas
Hart: Ch. 18, International Monetary Cooperation
International Monetary Fund: Annual Report, 1949, pp. 1-46
International Bank for Reconstruction and Development: Fourth Annual Report, 1948-49, pp. 7-37

PART VI. Public Finance and the Economic Problem

Peach & Krause: Section 6, Government Expenditures, Tax Collections, Public and Private Debt
Bowman & Bach: Ch. 36, Introduction to the Public Economy; Ch. 37, Public Expenditures; Ch. 38, Public Revenues—Taxation; Ch. 39, Taxation (Continued)
Peterson: Ch. 30, Public Policy and the Distribution of Income

PART VII. The Nature of Economic Fluctuations and Policies Directed Toward Their Control

Samuelson: Ch. 12, Saving and Investment
Peach & Krause, Review Section 1, National Income
Hart: Review Ch. 10, Inflation and Deflation
Bowman & Bach: Ch. 13, The Rate of Economic Growth; Ch. 14, Economic Fluctuations
Peach & Krause: Section 7, Price Levels and Business Fluctuations
Wright: Ch. 6, Progress and Instability
Bowman & Bach: Ch. 40, Monetary Policy and Economic Stabilization; Ch. 41, Fiscal Policy and Economic Stabilization; Ch. 42, Antimonopoly Measures, Wage-Price Policy, and Direct Controls
C.E.D.: The Uses and Dangers of Direct Controls in Peacetime

 

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Lecture Schedules and Reading Lists, 1942-1970”, Subfolder “49-55”.

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ECONOMICS I—NON-CONCENTRATORS
1949-50
Second Half

Sources:

Benham and Lutz Economics, American Edition (1941)
Bowman and Bach Economic Analysis and Public Policy,Second Edition (1949)
**Economic Outlook Consumers, Workers Pay Cost of New Factories
Hart, A. G. Money, Debt, and Economic Activity(1948)
**International Bank for Reconstruction and Development Fourth Annual Report, 1948-49
**International Monetary Fund Annual Report, 1949
Jewkes, J. Ordeal by Planning(1948)
*Peterson, S. Economics(1949)
*Schumpeter, J. A. Capitalism, Socialism and Democracy(1947)
*Slichter, S. H. The American Economy(1948)
Slichter, S. H. Basic Criteria Used in Wage Negotiations
**Slichter, S. H. Profits in a Laboristic Society
Sweezy, P. M. Socialism
*Wright, D. M. Democracy and Progress

* To be purchased by students
**To be handed out in section meeting.

 

PART IV. The Distribution of Income

  1. Personal Income Distribution
    Peterson: Ch. 24, Inequality—Extent and Significance; Ch. 25, Inequality in the Return from Labor
  2. Determination of Returns to the Factors of Production
    Peterson: Ch. 26, Productivity and Income; Ch. 28, The Basis of Property Incomes; Ch. 29, Profits, Interest, and Wealth
  3. Labor Organization and Labor Markets
    Bowman & Bach: Ch. 31, The Economics of Labor Unionism, pp. 492-501
    Peterson: Ch. 27, Wage-raising Policies and Practices
    Slichter: Basic Criteria Used in Wage Negotiations, pp. 7-31, and 36-40
    Bowman & Bach: Ch. 35, Government Policy and Labor, pp. 651-681
    Slichter: Ch. 2, Co-operation or Conflict in American Industry
  4. The Wages, Prices and Profits Controversy
    Economic Outlook: Consumers, Workers Pay Cost of New Factories
    Slichter: Profits in a Laboristic Society

PART V. International Economic Problems

Benham: Ch. 25, The Theory of International Trade; Review Chs. 26, 27, 28
Hart: Review, Ch. 15
Benham: Ch. 29, Exchange Control; Ch. 30, Import Duties and Quotas
Hart: Ch. 18, International Monetary Cooperation
International Monetary Fund: Annual Report, 1949, pp. 1-46
International Bank for Reconstruction and Development: Fourth Annual Report, 1948-49, pp. 7-37

PART VI. Public Finance and the Economic Problem

Bowman & Bach: Ch. 36, Introduction to the Public Economy; Ch. 37, Public Expenditures; Ch. 38, Public Revenues—Taxation; Ch. 39, Taxation (Continued)
Peterson: Ch. 30, Public Policy and the Distribution of Income

PART VII. The Nature of Economic Fluctuations and Policies Directed Toward Their Control

Peterson: Ch. 14, Total Demand and the Depression Problem; Ch. 15, Cyclical Fluctuations
Wright: Ch. 6, Progress and Instability
Slichter: Ch. 3, The Problem of Economic Stability
Wright: Ch. 11, Three Plans

PART VII. The Prospects for Economic Progress under Capitalism and Other Systems

Schumpeter: Part II, Can Capitalism Survive
Wright: Ch. 1, Science, Democracy, and Capitalism; Ch.2, The Moral Dilemma of Progress; Ch. 3, The Meaning and the Method of Democratic Progress; Ch.4, Political Democracy and the Alternatives to Competition
Schumpeter: Part III, Can Socialism Work?
Sweezy: Ch. 10, Can Socialism Provide Incentives to Work and to Efficiency?; Ch. 12, Are Socialism and Freedom Compatible?
Jewkes: Ch. 1, The Spread of Fashion; Ch.2, Is the Business Man Obsolete; Ch. 5, Confusion Among the Planners; Ch. 6, Planners as a Species; Ch. 7, Planning as a Scientific Method; Ch. 8, Planning and Prosperity; Ch. 9, Planning and Economic Stability; Ch. 10, Planning and Freedom

 

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Lecture Schedules and Reading Lists, 1942-1970”, Subfolder “49-55”.

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1949-50
HARVARD UNIVERSITY
ECONOMICS I
Non-Concentrators

Mid-Year Examination
January, 1950

I
(One hour and a half)
Answer both questions

  1. A member of the Board of Governors of the Federal Reserve System has recently advised Congress that the policy of the Treasury has made it impossible for the Federal Reserve authorities to use their powers as controllers of the country’s money supply. Explain carefully why Treasury and Federal Reserve policies must be coordinated and in what ways they are likely to come in to conflict. Illustrate by reference to the national debt and other problems which arose in the war and the postwar periods.
  2. The problem of the allocation of scarce resources among a multitude of possible uses is one which is largely solved automatically in our economy.
    Explain how this problem is solved. Give careful attention to the role of and inter-relationships among each of the following: consumer decisions, producer decisions and markets.

II
(One hour and a half)
Answer any THREE questions

  1. The monetary control authorities generally attempt to control the level of prices and the level of income through control of the supply of money. Using the equation of exchange as an analytic framework, analyze how a policy which changes the supply of money might work out.
  2. Answer either (a) or (b) of the following
    1. Distinguish “rate level” from “rate structure.” Discuss the criteria relied on by regulatory commissions in determining each for a public utility, noting the major problems involved.
    2. What are the major economic arguments for and against monopoly? In the light of these arguments what elements do you think should be contained in any balanced government policy toward monopoly?
  3.      aExplain the relationship between gross and net national product; between national income and aggregate personal income.
    1. Discuss a purpose for which each one of the above aggregates can be used.
    2. In the light of the above explanation and additional pertinent facts comment on the following statement: “A comparison of national income at the depth of a depression with that during a period of prosperity overstates the impact of the depression on the consuming public.”
  4. Answer TWO of the following:
    1. Explain how speculative markets control the rate of use of periodically produced goods.
    2. Restate the Malthusian thesis (law of population) using the principle of diminishing returns.
    3. Distinguish the short-run stabilization and long-run adjustment of the market for farm products. Consider both the objectives and the implied policies.
    4. Discuss the respective roles of technological change and savings and capital accumulation in the emergence of modern economic society.

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Economics 1, Exams 1939-1962”.

________________________

1949-50
HARVARD UNIVERSITY
ECONOMICS I
Concentrators

Mid-Year Examination
January, 1950

 

I
(One hour and a half)
Answer both questions

  1. A member of the Board of Governors of the Federal Reserve System has recently advised Congress that the policy of the Treasury has made it impossible for the Federal Reserve authorities to use their powers as controllers of the country’s money supply. Explain carefully why Treasury and Federal Reserve policies must be coordinated and in what ways they are likely to come in to conflict. Illustrate by reference to the national debt and other problems which arose in the war and the postwar periods.
  2. Consumers’ preferences change, thus increasing the demand for a certain product which is produced under conditions of pure competition. Trace in precise fashion the results of this increase in demand on the output of the individual firms and of the industry, and on the price of the product:
    1. in the short run,
    2. in the long run.

 

II
(One hour and a half)
Answer any THREEquestions

  1. The monetary control authorities generally attempt to control the level of prices and the level of income through control of the supply of money. Using the equation of exchange as an analytic framework, analyze how a policy which changes the supply of money might work out.
  2. What are the major economic arguments for and against monopoly? In the light of these arguments what elements do you think should be contained in any balanced government policy toward monopoly?
  3. Answer TWO of the following:
    1. Discuss three important factors determining the location of economic activity.
    2. “When there is oligopoly, even without collusive agreements, price competition will tend to be ‘nonaggressive’, and price will usually be higher than otherwise.” Discuss.
    3. “Competition on a nonprice basis has become more and more important in recent years.” Discuss the effects of this trend on the allocation of resources.
    4. Discuss the process of hedging in a commodity market and its significance to the non-speculative businessman.
  4. Define Gross National Output (Product), National Income, and Income Payments (Personal Income).
    1. What is the general use of these concepts and how might each one be used specifically?
    2. How is Gross national Output related to Aggregate Demand or Expenditure?
    3. How will the relation between National Income and income Payments vary in prosperity and depression?
    4. Can we place great reliance on these concepts as measures of economic welfare?

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Economics 1, Exams 1939-1962”.

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1949-50
HARVARD UNIVERSITY
ECONOMICS I
Non-Concentrators

Final Examination
June, 1950

I
(One hour and a half)
Answer both questions

  1. Investment is often said to play a “strategic role” in the business cycle. What is meant by this statement? What are its implications for counter-cyclical policy?
  2. “Remuneration for labor services and a share in the social dividend are the only sources of personal income under socialism. Therefore, the socialist planners can ignore rent, interest, and profits even though they are fundamental to the functioning of a capitalist system.” Discuss.

II
(One hour and a half)
Answer both questions

  1. Without stating general conclusions as to the merits of either side, explain the basic issues involved in the dispute between labor and industry over wages, prices and profits.
  2. Discuss the elements to be considered in the establishment of a model tax system for the United States at the present level of expenditures. (This includes all levels of Government.)

III
(Thirty minutes)
Answer one question

  1. An adverse balance of payments can be corrected by (1) changes in exchange rates, (2) changes in prices and incomes, or (3) exchange and import controls.
    1. Discuss briefly how each of the above three methods may be used to correct a country’s adverse balance of payments.
    2. Discuss the extent to which the member countries of the International Monetary Fund may make use of the above three methods.
  2. Comment on the following statement: “The object of American tariff policy should be to impose sufficient duty on goods of every kind to equalize the cost of production at home and abroad.”

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Economics 1, Exams 1939-1962”.

________________________

1949-50
HARVARD UNIVERSITY
ECONOMICS I
Concentrators

Final Examination
June, 1950

I
(One hour and a half)
Answer both questions

  1. Investment is often said to play a “strategic role” in the business cycle. What is meant by this statement? What are its implications for counter-cyclical policy?
  2. The establishment of product prices and of returns to factors of production are two sides of the same economic process.
    1. Analyze the forces of supply and demand which determine the return to a factor of production.
    2. Explain (in terms of producer and consumer decisions) how these returns determine and are determined by the prices of products.

II
(One hour and a half)
Answer both questions

  1. Without stating general conclusions as to the merits of either side, explain the basic issues involved in the dispute between labor and industry over wages, prices and profits.
  2. Discuss the elements to be considered in the establishment of a model tax system for the United States at the present level of expenditures. (This includes all levels of Government.)

III
(Thirty minutes)
Answer one question

  1. An adverse balance of payments can be corrected by (1) changes in exchange rates, (2) changes in prices and incomes, or (3) exchange and import controls.
    1. Discuss briefly how each of the above three methods may be used to correct a country’s adverse balance of payments.
    2. Discuss the extent to which the member countries of the International Monetary Fund may make use of the above three methods.
  2. Comment on the following statement: “The object of American tariff policy should be to impose sufficient duty on goods of every kind to equalize the cost of production at home and abroad.”

Source:  Harvard University Archives. Department of Economics. Course Reading lists, syllabi, and exams 1913-1992, Box 2, Folder “Economics 1, Exams 1939-1962”.

Image Source:  H. H. Burbank in the Harvard Class Album 1947.

Categories
Bryn Mawr Gender Harvard Radcliffe

Harvard/Radcliffe. Economics PhD alumna, Ruth Jackson Woodruff, 1931

 

Besides the curricula of graduate education in economics, every so often Economics in the Rear-view Mirror presents the life-stories of men and women who have received a Ph.D. in economics. Where did they come from and where did they end up, along with all the stations in between. Today we meet Ruth Jackson Woodruff, a Radcliffe Ph.D. (1931). This was back in the day when Harvard and Radcliffe still differentiated their doctorates.

___________________

Doctor of Philosophy

Ruth Jackson Woodruff, A.M.

Subject, Economics. Special Field, Economic History since 1750. Dissertation “A History of the Hosiery Industry in the United States before 1890.”

Source:  Annual Reports of Radcliffe College for 1930-31 (February, 1932), p. 21.

___________________

Publications

Woodruff, R. (1921). A Classification of the Causes of Crime. Journal of the American Institute of Criminal Law and Criminology, 12(1), 105-109. [Written while still a student at Bryn Mawr College.]

Ruth Woodruff, “The Hosiery Industry,” Bulletin Series No. 5, Junior Employment Service, Board of Education of Philadelphia (Philadelphia, 1925).

Alexander, N., & Woodruff, R. (1940). Determinants of College Success. The Journal of Higher Education, 11(9), 479-485.

___________________

Life and career dates

December 21, 1898. Born in Scranton, Pennsylvania.

1919. Bryn Mawr, A.B.

1920. Bryn Mawr, A.M.

1927-28. Attended University of Pennsylvania.

1931. Radcliffe, Ph.D. in economics.

1932-1953. Dean of Women at the University of New Hampshire. [Began as assistant professor of economics in the College of Liberal Arts]

1954-1962. Professor of Economics in the College of Liberal of Arts of the University of New Hampshire.

1962-1965. Professor of Economics at Whittemore School of Business and Economics of the University of New Hampshire.

1965. Retired.

October, 1983. Died in Newtown, Pennsylvania.

Categories
Exam Questions Harvard Methodology

Harvard. Final Exam for Scope and Method of Economics. Taussig, 1896.

 

Frank Taussig returned from a sabbatical to teach a course on the scope and method(s) of economics at Harvard during the second term of 1895-96. The following years his colleague, the economic historian William Ashley, taught the course.

The enrollment figures and final examination questions for Taussig’s course are provided below.

____________________

COURSE ANNOUNCEMENT

[Economics] 13hf. Scope and Method in Economic Theory and Investigation. Half-course. Wed., Fri., and (at the pleasure of the instructor) Mon., at 1.30 (second half-year). Professor Taussig.

Source: The Harvard University Catalogue, 1895-96,p. 100.

 

COURSE ENROLLMENT

[Economics] 132. Professor Taussig.—Scope and Method in Economic Theory and Investigation. hf. 2 hours, 2d half-year.

Total 14: 11 Graduates, 3 Seniors.

 

Source: Harvard University. Report of the President of Harvard College, 1895-1896, p. 63.

 

1895-96
ECONOMICS 13.
[Final examination]

  1. Compare Wagner’s enumeration of the problems within the scope of economic science with Keynes’s; and consider what doubts or objections there may be in regard to any of the problems mentioned by either writer.
  2. Explain and examine critically one of the following passages in Wagner:

Section 63 (pp. 158-163).
Section 70 (pp. 180-182).

  1. Illustrate the mode in which use is advantageously made of the deductive and the inductive method in regard to two of the following topics:

the causes which determine the general range of prices;
the prospects of socialism;
the prospects of cooperation.

  1. What peculiarities and difficulties appear for economic science in the choice of terminology and in definition? Illustrate.
  2. Is there ground for saying that the economic history of very recent times is of greater value for economic theory than the economic history of remote periods?
  3. What do you conceive to be the position in regard to method in economics of Ricardo? J.S. Mill? Roscher? Schmoller?

 

Source: Harvard University Archives. Prof. F. W. Taussig Examination Papers in Economics, 1882-1935, (HUC 7882), p. 55.

Image Source: Harvard Portfolio, vol. VI, 1895 .

Categories
Agricultural Economics Exam Questions Harvard Suggested Reading Syllabus

Harvard. Marketing of agricultural commodities. John D. Black, 1947-48.

 

 

John D. Black took over the agricultural economics courses at Harvard that were previously the responsibility of Thomas Nixon Carver. The course of this post was co-taught by Professor Black and Dr. Charles D. Hyson and was simultaneously taught to both Harvard undergraduates and graduate students. Following the course syllabus for 1947-48 are the midyear exams for both the undergraduate and graduate courses and the final year-end exam for the undergraduates. I have been unable to find the graduate examination questions for the year-end final (they were not included in the collection of examinations archived at Harvard).

_________________________________

Course Enrollment

[Economics] 7a. Professor Black and Dr. Hyson.—Consumption, Distribution and Prices (F)

Total 86: 43 Seniors, 30 Juniors, 11 Sophomores, 1 Freshman, 1 Radcliffe.

 

[Economics] 7b. Professor Black and Dr. Hyson.—Consumption, Distribution and Prices (Sp).

Total 44: 25 Seniors, 15 Juniors, 4 Sophomores.

 

[Economics] 107a. Professor Black and Dr. Hyson.—Consumption, Distribution and Prices (F)

Total 13: 5 Graduates, 5 Public Administration, 3 Radcliffe.

 

[Economics] 107b. Professor Black and Dr. Hyson.—Consumption, Distribution and Prices (Sp).

Total 8: 1 Graduate, 4 Public Administration, 3 Radcliffe.

 

Source.  Harvard University. Report of the President of Harvard College 1947-1948, pp. 89.

_________________________________

SYLLABUS FOR ECONOMICS 7 AND 107
1947-1948

The required readings for Economics 7 and Economics 107 will be chosen from the references given below. The symbols used for frequently cited references are as follows:

**S.D.—Stewart and Dwehurst, DOES DISTRIBUTION COST TOO MUCH?, Twentieth Century Fund, 1942.

**Shep.—Shepherd, G.S., AGRICULTURAL PRICE ANALYSIS, Iowa State College Press, 1947 (revised edition).

**Waite—Waite and Cassady, THE CONSUMER AND THE ECONOMIC ORDER, McGraw-Hill Co., 1939.

*Cassels—Cassels, J.M., A STUDY OF FLUID MILK PRICES, Harvard University Press, 1937.

**T.N.E.C.—PRICE BEHAVIOR AND BUSINESS POLICY, Temporary National Economic Committee, Monograph No. 1, Government Printing Office, Washington, D.C., 1941.

**Nourse—Nourse, E.G., PRICE MAKING IN A DEMOCRACY, Brookings Institution, 1944.

**Dew.—Dewhurst and Associates, AMERICA’S NEEDS AND RESOURCES, Twentieth Century Fund, New York, 1947.

**Stig.—Stigler, G.J., THE THEORY OF PRICE, Macmillan Company, 1946.

**M.B.—Maynard and Beckman, PRINCIPLES OF MARKETING, Ronald Press, 1947.

*Nicholls—Nicholls, W.H., IMPERFECT COMPETITION WITHIN AGRICULTURAL INDUSTRIES, Iowa State College Press, (reprinted 1947).

**Com.—Department of Commerce, MARKET ANALYSES FOR BUSINESS, May, 1947.

 

PART I—INTRODUCTION

Ch. 1. Definition of the Field

M.B., Ch. 1.
Black, J.D. and Galbraith, J.K., “The Quantitative Position of Marketing in the United States”, Quarterly Journal of Economics, May, 1935.
S.D., pp. 3-14; 115-123.

Ch. 2. The Importance of the Field

Cassels, J.M., “The Significance of Early Economic Thought on Marketing,” Journal of Marketing, October 1936, Vol. 1, No. 2, pp. 129-133.
S.D., pp. 15-22; 123-126.

Ch. 3. The Evolution of Markets and Marketing

Marshall, A., PRINCIPLES OF ECONOMICS, 8th ed., Bk. V, Ch. 1.
M.B., Ch. 2.

PART II—CONSUMPTION ASPECTS

Ch. 4. The Field of Consumption Economics Considered in Relation to Marketing.

M.B., Chs. 3, 4, and 5.

Ch. 5. The Nature and Classification of Human Wants and Goods or Utilities

Dew., Chs. 5, 6, 7.
Waite, Chs. 1 and 14.
Scope and Method Bulletin No. 11, Research in Farm Family Living. Social Science Research Council, (1933), pp. 3-8; 45-58.

Ch. 6. The Dimensions of Utility and Its Measurement

Stig., Ch. 5.
Dew., Ch. 4.
The Review of Economic Statistics, November 1946, Five Views of the Consumption Function”.
Inadequate Diets and Nutritional Deficiencies in the U.S. Their Prevalence and Significance. Bulletin of National Research Council, November 1943.
Scope and Method Bulletin, cited above, pp. 13-18; 31-42.

Ch. 7. Levels of Consumption

Scope and Method Bulletin, cited above, pp. 8-18.
Dew.—Ch’s. 8, 9, and 10.
Waite—Ch’s. 3, 12, and 13.

Ch. 8. Consumer Income and Income Elasticity

Dew.—Ch’s. 11 and 12.
Woytinsky, W.S., “Relationship Between Consumers’ Expenditures, Savings, and Disposable Income”, Review of Economic Statistics, February, 1946.

Ch. 9. The Consumer Purchases and Related Studies

Waite—Ch’s. 9, 13, 16, and 17.

Ch. 10-11. Administration of Income

Dew.—Ch’s 13 and 14.
Waite—Ch’s 20 and 21.

Ch. 12. The Cost of Living and its Measurement

Bureau of Labor Statistics, The Cost of Living Index of the BLS, and appraisal of “The Cost of Living” by George Meany and R. J. Thomas, labor members of the President’s Committee on the Cost of Living, February 28, 1944.
Bureau of Labor Statistics, Report of the President’s Committee on the Cost of Living, Monthly Labor Review, January, 1945.
Mills, Bakke, Cox, Reid, Schultz, and Stratton (Special Committee of the American Statistical Association), “An Appraisal of the BLS Cost of Living Index”, Journal of the American Statistical Association, December, 1943.
National Industrial Conference Board. A Critical Analysis of the Meany-Thomas Report on the Cost of Living, April 1944.
Waite—Ch. 5.

Ch. 13. Consumer Sovereignty

Dew.—Ch. 15.

PART III—MARKETING ORGANIZATION

Ch. 14. Production Economics Aspects of Marketing

M.B.—Ch’s 6 to 8.

Ch. 15. Approaches to Marketing Organization Analysis

[note: no reading item listed here]

Ch. 16. The Definition of a Market

Fetter, “The Economic Law of Market Areas”, Quarterly Journal of Economics, May, 1924.
Price, Marketing of Farm Products, Ch. 16.
Shepherd, MARKETING OF FARM PRODUCTS, Appendix A.

Ch. 17. Marketing Agencies

M.B.—Ch’s. 9 to 11.

Ch. 18. Classification by Commodities

M.B.—Ch’s. 13 to 15.

Ch. 19. The Census of Distribution

M.B.—Ch’s. 16 to 18.

Ch. 20. The Location of Markets

Dean, W.H., THE THEORY OF THE GEOGRAPHIC LOCATION OF ECONOMIC ACTIVITIES, Edward Brothers, Ann Arbor, Michigan, 1938.
S.D.—Ch. 4.

Ch. 21. Inter-Unit Marketing Organization

M.B.—Ch. 19 and 20.

Ch. 22-23. Intra-Unit Marketing Organization

M.B.—Ch. 36.
S.D.—Ch. 2, pp. 33, 36, 37.
Com.—pp. 86-91.

 

PART IVMARKET PRICE

Ch. 24. The Function of Market Prices

M.B.—Ch. 32.
Stig.—Ch. 2.
S.D.—Ch. 2.
Waite—Ch’s. 14, 15.

Ch. 25. The Behavior of Prices

Shep.—Ch’s. 1, 2, and 3.
Cassels, J.M.—Ch’s 1, 5, and 9.
Com.—pp. 43-50.
Nicholls—Ch. 18.

Ch. 26. Demand

Stig.—Ch. 6.
Shep.—Ch’s. 4, 5, and 6.
Cassels—Ch’s 1, 6, and 9.
Working, E.J.—“What Do Statistical Demand Curves Show?” Quarterly Journal of Economics, February, 1927.
Waite—Ch. 10.

Ch. 27. Supply

Stig.—Ch’s 7 to 10, inclusive
Shep.—Ch’s. 10 and 11
Black, J.D., “The Elasticity of Supply of Farm Products”, Journal of Farm Economics, 1924.
Cassels—Ch’s 1 and 2.
Cassels, J.M., “The Nature of Statistical Supply Curves”, Journal of Farm Economics, April, 1933.
Mighell, R.L. and Allen, R.H., “Supply Schedules—Long Time and Short Time”, Journal of Farm Economics, August, 1940.
Reynolds, L.G., “The Canadian Baking Industry: A Study of an Imperfect Marekt,”Quarterly Journal of Economics, August, 1938.
Reynolds, L.G., “Competition in the Rubber Tire Industry,” American Economic Review, September 1938.
Waite—Ch. 6.

Ch. 28. Selling Prices under Imperfect Competition

Cassels—Ch’s. 9 and 10.
Nicholls—Ch’s 5 to 11, inclusive
Stig.—Ch’s 11 to 14, inclusive
TNEC—Part I, Ch’s 2 and 3.
Hyson, G.D. and Sanderson, F.H., “Monopolistic Discrimination in the Cranberry Industry”, Quarterly Journal of Economics, May, 1945.
Waugh, F.V. et al, “The Controlled Distribution of a Crop Among Independent Markets”, Quarterly Journal of Economics, November, 1936.
Waite—Ch. 6.

Ch. 29. Buying Prices under Imperfect Competition

Nicholls, Ch’s—16 and 17.
TNEC—Part III, Ch’s 1 and 2.

Ch. 30. Futures markets and Speculation

M.B.—Ch’s. 28 and 29.
Howell, L.D., Cotton Prices in Spot and Futures Markets, USDA Technical Bulletin No. 6851, 1939.
Shepherd, THE MARKETING OF FARM PRODUCTS, Ch’s 9 and 10.

Ch. 31. Price Forecasting

Shep.—Ch’s 7, 8, 9, and 13.

 

PART VSELLING AND BUYING

Ch. 32. The Selling Function

TNEC—Part I, Ch. 4[?].
S.D.—p. 225.

Ch. 33. Advertising

M.B.—Ch. 23.
S.D.—pp. 225-229.
Borden, Neil, “Findings of the Harvard Study on the Economic Effects of Advertising”, Journal of Marketing, April, 1942.
Waite—Ch. 11.

Ch. 34. The Buying Function

M.B.—Ch. 22.
TNEC—Part I, Appendix 2.
Nicholls, Ch’s. 12-15, inclusive.

Ch. 35-36. Price Policy

S.D.—Ch. 2.
Cassels—Ch. 6.
Nourse—Ch’s 6, 10, and 11.
TNEC.—Part I, Preface and C-h. 1.

 

PART VIMARKETING MARGINS, COSTS, INCOME, AND EFFICIENCY

Ch. 37. Margins and Costs

S.D.—Ch’s. 2, 6, and 7.
TNEC.—Part III, Ch’s. 2 and 3.

Ch. 38. The Incidence of Marketing Costs

S.D.—Ch’s. 10 and 11, pp. 333-349[?].
Nourse—Ch’s. 8 and 9.
TNEC., Part II, Ch. 1.

Ch. 39. Incomes in Commodity Distribution

S.D.—Ch. 5.

Ch. 40. Marketing Efficiency

M.B.—Ch’s. 37 and 38.

 

PART VIIAUXILIARY FUNCTIONS

Ch. 41. Transportation

M.G.—Ch. 24.
S.D.—Ch. 8, pp. 210-222.

Ch. 42. Warehousing and Storage

M.B.—Ch. 25.
S.D.—p. 225.

Ch. 43. The Financing of Marketing

M.B.—Ch. 27.
S.D.—pp. 229-244.

Ch. 44. The Insurance of Commodity Distribution

[note: no reading item listed here]

 

PART VIIICOOPERATION IN COMMODITY DISTRIBUTION

Ch. 45. Principles and Philosophy of Cooperation as Exhibited in Commodity Distribution

Black, J.D., Cooperative Central Marketing Organization, University of Minnesota Exp. Sta. Bulletin No. 211, April, 1924.
Childs, Marquis, SWEDEN: THE MIDDLE WAY, 1938, (conclusions only).

Ch. 46. Cooperative Selling

M.B.—Ch. 21.
S.D.—pp. 85-94.

Ch. 47. Cooperative Buying and Consumer Organization

M.B.—Ch. 12.
Sorenson, THE CONSUMER MOVEMENT, Ch’s 1, 4-9, inclusive.
Waite—Ch. 18.

 

PART IXPUBLIC ACTIVITY IN COMMODITY DISTRIBUTION

Ch. 48. The Functions of Government in Commodity Distribution and Prices

M.B.—Ch’s. 37 to 39.
S.D.—Ch. 11, pp. 349-367.
Nourse—Ch’s. 1 to 5 inclusive.

Ch. 49. The Marketing Services

M.B.—Ch’s. 26 and 30.
Waite—Ch’s 6 and 7.

Ch. 50. Government Controls

Nourse—Ch’s 12 to 14, inclusive.
S.D.—Ch. 11; pp. 333-348.

Ch. 51. Price Control

Shep.—Ch’s 14 and 155.
TNEC.—Part III, Ch. 1.

Ch. 52. Marketing Operations

Shepherd, G.S., MARKETING OF FARM PRODUCTS, Ch. 14.

Ch. 53. Intergovernmental Commodity Agreements

Mason, Edward, CONTROLLING WORLD TRADE, McGraw-Hill, 1946, Part II.
Davis, J.S., INTERNATIONAL COMMODITY AGREEMENTS: HOPE, ILLUSION, OR MENACE?, The Committee on International Economic Policy, New York, 1947.
REPORT OF THE DRAFTING COMMITTEE OF THE PREPARATORY COMMITTEE OF THE UNITED NATIONS CONFERENCE ON TRADE AND EMPLOYMENT, United Nations Economic and Social Council. Lake Success, New York, January 20 to February 25, 1947, Ch’s 5 to 7, inclusive.

 

PART XCONCLUSION

Ch. 54. Outlook and Policy

Com.—pp. 1-42; 51-85.
Dew.—Ch’s 6 and 26.
S.D.—Ch. 11.
Hyson, C.D., “Savings in Relation to Potential Markets”, American Economic Review, December, 1946.
Hyson, C.D., “Maladjustments in the Wool Industry and Need for New Policy,” Journal of Farm Economics, May, 1947.
Waugh, F.V., “Does the Consumer Benefit From Price Stability?”, Quarterly Journal of Economics, August, 1944.

 

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003.   Box 4, Folder “Economics, 1947-1948 (1 of 2)”.

_________________________________

1947-48
HARVARD UNIVERSITY
MIDYEAR EXAMINATION
January 1948
ECONOMICS 7a

Commodity Consumption, Distribution and Prices

Answer No. 1, and 5 of the remaining 6.

  1.      a.  Cite all the conditions that may make competition “imperfect”.
    1. Point out the differences between Maynard and Beckman’s and Stigler’s sets of conditions.
    2. Why do Maynard and Beckman object to the term “imperfect” competition?
    3. Is their objection valid? Give reasons for your answer.
  2.      a.  Explain the statement that “utility has a time dimension,” and show the relevance of this time dimension to determination of the relative productivity of four or five different types of marketing operations or activities.
    1. Comment on the statement: Introducing the time dimension into measurement of utility does not introduce ethical considerations.
  3.      a. Explain and illustrate by a diagram unit elasticity of demand, elastic demand, and inelastic demand.
    1. Explain income elasticity.
    2. Show how demand elasticity and income elasticity are related to each other.
  4.     Outline the four approaches to analysis of marketing organization and indicate the advantages of each.
  5.      a. Make a classification of markets on two or more bases.
    1. Outline briefly the principles that are involved in the location of major types of markets.
  6.      Contrast the marketing systems for farm products and for manufactured products, defining the functions performed by the marketing agencies engaged in each.
  7.     Explain briefly 4 of the following 5:
    1. Standard of living.
    2. Consumer sovereignty.
    3. Inter-unit marketing organization.
    4. Regular wholesaler.
    5. Supplementary relationship.

MIDYEAR EXAMINATION
January 1948
ECONOMICS 107a

Commodity Consumption, Distribution and Prices

Answer No. 1; 4 questions out of the remaining 6 listed above; and 2 out of the following 3.

  1. Explain the aggregate consumption function and the individual consumption function, and show their significance in marketing analysis.
  2. Comment on the several attempts to determine the relative growth of marketing and other forms of economic activity in the United States.
  3. Explain briefly 3 of the following 4:
    1. Indifference curves (as explained, for example, in Stigler’s Chapter 5.)
    2. LePlay’s approach to consumption analysis.
    3. Principal features of the Consumer Purchases Study.
    4. Either Wicksteed’s or Patton’s main lines of thought on consumption economics.

 

Source:  Harvard University Archives. Harvard University. Final Examinations, 1853-2001.Box 15. Faculty of Arts and Sciences, Papers Printed for Final Examinations, History, History of Religions, …,Economics, …, Military Science, Naval Science. January, 1948.

_________________________________

1947-48
HARVARD UNIVERSITY
FINAL EXAMINATION
May 1948
ECONOMICS 7b

Commodity Consumption, Distribution and Prices

(Answer No. 1, and any 5 of the remaining 6)

  1. Outline the basic doctrines of a sound price policy as presented by Nourse. Appraise his doctrines and discuss them critically with particular reference to the price policy and business behavior of the individual firm. (45 minutes)
  2. Explain how the relative elasticities of the demand for Class I and for Class II milk are related to the practice of discriminative marketing. Illustrate with diagram. (27 minutes)
  3. What is the effect of speculation in futures contracts upon commodity prices? Does speculation stabilize prices? Appraise. (27 minutes)
  4. Prices of what types of commodities are flexible, inflexible? Why these differences? (27 minutes)
  5. Outline a group of measures and procedures that will promote efficiency in commodity distribution. (27 minutes)
  6. Discuss cost analysis as a tool of marketing analysis. (27 minutes)
  7. In what ways can cooperation contribute most effectively to efficiency in commodity distribution? (27 minutes)

[Note: examination questions for Economics 107b not included in collection]

Source:  Harvard University Archives. Harvard University. Final Examinations, 1853-2001.Box 15. Faculty of Arts and Sciences, Papers Printed for Final Examinations, History, History of Religions, …,Economics, …, Military Science, Naval Science. May, 1948.

Image Source:  Professor John D. Black in Harvard Class Album 1945.

Categories
Harvard Teaching Undergraduate

Harvard. Memos on teaching assistants and grading in economics courses, 1911

 

Six memos primarily concerned with the supervision of teaching assistants in economics courses, but also other interesting incidental detail is revealed. Of the six professors listed on economics department letterhead, Taussig was able to get a memorandum from everyone except for O. M. W. Sprague.

I have provided additional information from the published course announcements, annual Presidential Reports, along with some additional information on the subsequent careers of some of the teaching assistants named.

__________________

Taussig’s Cover Letter

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts
March 22, 1911.

Dear Mr. Blake:

You remember that you made some inquiries on the President’s behalf concerning the extent to which the work of assistants was supervised in the various courses. I enclose a batch of memoranda concerning the courses in our Department, and think they tell the whole story. If further information is desired, we shall be glad to supply it.

Very truly yours,
[signed]
F. W. Taussig

Mr. J. A. L. Blake

__________________

Frank W. Taussig and Edmund Ezra Day’s Courses

From the Course Announcements, 1910-11

[Economics] 1. Principles of Economics. Tu., Th., Sat., at 11. Professor Taussig, assisted by Drs. [Charles Phillips] Huse [Harvard Ph.D., 1907], [Edmund Ezra] Day [Harvard Ph.D., 1909],  and [Robert Franz] Foerster [Harvard Ph.D., 1909], and Messrs. Sharfman [not included in ex-post staffing report in President’s Report] and  [Alfred Burpee] Balcom [Harvard A.M. (1909), S.B. Acadia (1907), Nova Scotia].

[Economics] 182hf. Banking and Foreign Exchange. Half-course (second half-year). Mon., Wed., and (at the pleasure of the instructorFri., at 1.30. Dr. [Edmund Ezra] Day [Harvard Ph.D., 1909].

[Economics] 12 1hf. Commercial Crises and Cycles of Trade. Half-course (first half-year). Mon., Wed., Fri., at 10. Dr. [Edmund Ezra] Day [Harvard Ph.D., 1909].

*  *  *  *  *  *  *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts

Memorandum regarding Economics 1

The professor in charge lectures twice a week. For the third hour the men are divided into sections, conducted on the familiar plan. Every Thursday afternoon, throughout the year, I meet the section instructors and discuss the work of the week with them. Questions to be asked at the section meetings are proposed by the instructors, are approved, vetoed, or modified, by myself. Usually we come to an understanding as to the topics to be discussed in the sections after the papers have been written. Not infrequently we arrange for diagrams or figures to be used, identically in all the sections; these touching points which it is desired to make clear. Immediately after the mid-year and final examinations I always meet the instructors and we read a batch of blue books together; we compare our grades, questions by questions, and try to make sure that the same standard is applied in all cases. My experience is that there is substantial uniformity in the grading.

Some of my instructors, who have charge of large numbers in their own courses, have readers to assist them in the examination of the weekly papers. Dr. Day reports as follows concerning the weekly papers in his sections: “I always instruct the “reader” as to exactly what is expected in answer to the question assigned. Students are encouraged to refer to me any cases of grading where injustice seems to have been done and, where such cases disclose any error or inaccuracy in the grading, the matter is carefully reviewed with the reader.” I may add that Dr. Day reports that he personally grades all the papers both in Economics 12 and 8b.

__________________

Courses of Thomas Nixon Carver

From the Course Announcements, 1910-11

[Economics] 3. Principles of Sociology.—Theories of Social Progress. Mon., Wed., and (at the pleasure of the instructor) Fri., at 1.30. Professor Carver and an assistant [Lucius Moody Bristol listed in President’s Report 1910-11 as the course teaching assistant].

[Economics] 141hf. The Distribution of Wealth. Half-course (first half-year). Tu., Thu., at 1.30.Professor Carver.

[Economics] 142hf. Methods of Social Reform.—Socialism, Communism, the Single Tax, etc. Half-course (second half-year). Tu., Thu., at 1.30. Professor Carver.
Open only to those who have passed satisfactorily in Economics 14a.

Information about the teaching assistant actually named by Carver

Harvard A.M. (1911), but no Harvard Ph.D.

Philip Benjamin Kennedy received his A.M. from Harvard in 1911; A.B. Beloit (Wis.) 1905; Litt.B. Occidental (Cal.) 1906.

Source: Quinquennial catalogue of the officers and graduates of Harvard University 1636-1915.p. 574.

Additional biographical information.

*  *  *  *  *  *  *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts

Dear Taussig:

In Economics 3 the class is divided into two sections for Friday conferences. Mr. Kennedy, the assistant, takes one section and I take the other, but we alternate. Each section has a fifteen-minute paper on the day when Mr. Kennedy has it. There is no paper in the section meeting when I conduct it.

As to blue book reading, etc., I do not read any of the Friday papers. I read hour and final examination papers only in those cases where Mr. Kennedy gives and A or an E, where he is doubtful, and where the student is dissatisfied with his mark. Then, too, I always read the paper for any student who asks me to. Mr. Kennedy and I go over all the grades together and make up the final return.

In Economics 14a and 14b, there are no section meetings. The blue books are marked and the term averages made out in the same way as in Economics 3.

Sincerely yours,
[signed]
T. N. Carver
[initials:  O.H.]

Professor Taussig.

__________________

William Morse Cole’s Accounting Course

From the Course Announcements, 1910-11

[Economics] 18. Principles of Accounting. Mon., Wed., and (at the pleasure of the instructor) Fri., at 11. Asst. Professor Cole and an assistant [Messrs. Johnson and Platt].
Course 18 is not open to students before their last year of undergraduate work. For men completing their work at the end of the first half-year, it may be counted, with the consent of the instructor, as a half-course.

*  *  *  *  *  *  *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts
February 23, 1911

Dear Professor Taussig

With regard to the supervision of assistants’ work in Economics 18, I have to report as follows:

There are no section meetings in charge of assistants, though if competent assistants were available I might have such work done. The work of my chief assistant is reading short papers written in the classroom and reading outside written work and blue-books. I have attempted to keep a uniform standard where several men have been reading for me at once by having a bunch of papers read by all the readers and then by me in their presence for comparison and comment. Even then there has been some variation and I have sometimes myself reread all questions where variation seemed most likely to occur. For that reason, I have this year had all reading of short papers and blue-books done by one man, who has shown himself of unusually sound judgment. I have been over all short papers with him, and read after him a bunch of mid-year books—-after I had been through several books with him. In all cases where a few points would affect a man’s grade I have personally examined the blue-book in confirmation of my assistant’s judgment. This is his third year of work for me, and I have very great confidence in him, for after innumerable checks on his work I have never found it erring more than human frailty is bound to err.

His other work has been of two parts: assisting me occasionally in the voluntary conferences which I offer weekly for assistance to men who cannot keep the pace that I set for the class work as a whole (on the principle that the quick men should not be required to attend three meetings a week if the third is necessary only for those who do not take naturally to this sort of thing); and holding required conferences with thesis writers, and reading theses. I have not had much check on the conference work and the reading of theses, for two reasons: the theses are on reports of corporations, and since no man can be familiar with the annual reports of many score of such corporations, he can not determine omissions of facts (since there is no uniformity), but only the application of certain fundamental principles, which I know that my assistants are familiar with; the theses are written merely to give the men practice in reading between the lines of actual reports, and the result of that practice shows not only in the theses themselves but in all a man’s work, especially in the final examination, so that the reading of the thesis is done rather to determine whether a man has used the opportunity afforded him for practice, than to determine how much good he has got out of it—-for the amount of good is reflected in many ways, and to pass judgment on the correctness of the conclusions drawn in each particular thesis would require that the judge should have devoted long study to the reports with which the thesis is concerned.

The reading of theses, and the conference work in connection with them, is done by four or five assistants.

With the additional funds allowed by the contribution of the visiting committee, I shall have more short papers done in the third-hour meetings and shall make attendance required for men whose work shows that they need it.

Sincerely yours
[signed]
William Morse Cole

__________________

Economic history courses of Edwin F. Gay

From the Course Announcements, 1910-11

Economics 6a. European Industry and Commerce in the Nineteenth Century. Fall term, 1910-11 taught by Professor Edwin Francis Gay, assisted by Julius Klein.

Economics 6b. Economic and Financial History of the United States. Spring term, 1910-11 taught by Professor Edwin Francis Gay, assisted by Julius Klein.

*  *  *  *  *  *  *

HARVARD UNIVERSITY
THE GRADUATE SCHOOL OF BUSINESS ADMINISTRATION

Office of the Dean

Cambridge, Massachusetts
March 4, 1911

Dear Taussig:

I have assistance, as you know, in only one course, 6a and 6b. In this course as I have run it this year a half-hour test on reading is given every fortnight and a thesis is written. The reading of the papers for the half-hour test is left almost entirely in the hands of the Assistant. When I am breaking in a new man I usually look over some of the papers at the beginning to see that he gets the proper idea in regard to grading. He holds a series of conferences with the students in regard to their theses, referring them in cases of difficulty to me. The Assistant reads the theses but I myself make it a point to read them all in addition, since it is very difficult to grade these properly. The Assistant reads the final blue books in the course but I myself sample the final blue books and in all doubtful cases read the final blue book in addition to the thesis.

I think this answer the points raised by your question.

Very truly yours,
[signed]
Edwin F. Gay.

Professor F. W. Taussig

__________________

Public Finance Course of Charles Bullock

From the Course Announcements, 1910-11

[Economics] 7 2hf. Public Finance, considered with special reference to the Theory and Methods of Taxation. Half-course (second half-year) Mon., Wed., Fri., at 10. Professor Bullock and an assistant.

[Note: in the ex post staffing report in the President’s Report the instructor is listed as Dr. [Charles Phillips] Huse [Harvard Ph.D., 1907], assisted by Wilfred Eldred (Harvard Ph.D. 1919) and Roscoe Russell Hess (Harvard A.B. (1911) magna cum laude)]

Possible Harvard Undergraduate as a teaching assistant

Roscoe Russell Hess [I am guessing this was the teaching assistant in the public finance course]

Source: Quinquennial catalogue of the officers and graduates of Harvard University 1636-1915.p. 449.

Bowdoin Prizes for dissertations in English for undergraduates: first prize of $250, Roscoe Russell Hess ’11, of Seattle, Wash., on “The Paper Industry and Its Relation to the Conservation and the Tariff”

Source: Harvard Crimson, May 17, 1911.

*  *  *  *  *  *  *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts
March 7, 1911

My dear Taussig:

My arrangements with the assistants in Economics 7 are substantially as follows:

I meet with them on Wednesday at 3.30 and go over with them fully the work for the conferences on Friday and Saturday. We first select questions for the paper that we set the men at the sections, aiming of course to make the questions given the different sections a nearly as possible of equal difficulty. I also go over the subjects treated in the assigned reading for the week and indicate the points which I think the assistants would better emphasize in the oral discussion in the sections.

During the early part of the half-year I also meet the assistants each week to confer with them about the marking of the weekly papers. The method that we follow is to read together several papers in each of the divisions, discussing the proper marks to be assigned to the papers until we find that we have come to substantial agreement.

I think in general you can say that the method followed in 7 is substantially like the method followed in Economics 1.

Yours sincerely,
[signed]
C. J. Bullock
[initials: O. H.]

Professor Taussig

__________________

Labor and Transportation Courses taught by W. Z. Ripley

From the Course Announcements, 1910-11

[Economics] 5 1hf. Economics of Transportation. Half-course (first half-year). Tu., Thu., and (at the pleasure of the instructor) Sat., at 10. Professor Ripley, assisted by Mr. Whitnack.

[Economics] 91hf. Problems of Labor. Half-course (first half-year). Tu., Thu., and (at the pleasure of the instructor) Sat., at 1.30. Professor Ripley, assisted by Mr. Whitnack.

Teaching assistant Whitnack probably never awarded Ph.D. from Harvard

According to the Quinquennial catalogue, Ralph C. Whitnack did receive an A.M. from Harvard in 1911. Ralph Cahoon Whitnack, formerly Ralph Cahoon Whitenack; A.B. Brown 1906; Prof. Pol. Eco., Keio Univ. (Japan) 1914-.

Source: Quinquennial catalogue of the officers and graduates of Harvard University 1636-1915.p. 574.

Whitnack’s dissertation listed being “in progress” in 1915

Doctoral dissertation “Social stratification” in progress listed in the AER list of doctoral dissertations in progress American Economic Review, Vol. 5, No. 2 (June 1915), p. 477.

Whitnack’s death in 1919

Professor Ralph Cahoon Whitnack, formerly professor of economics at Keio University, Tokio, died April 14, 1919. At the time of his death Professor Whitnack was serving as joint revenue commissioner for the native state of Baroda, India. He had direct jurisdiction over the departments of excise and customs, agriculture and cooperative credit. During 1918 and until his death he was price controller and director of civil supplies.

Source:  Notes in American Economic Review, Vol. 9, No. 4 (December 1919), p. 946.

*  *  *  *  *  *  *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

F. W. Taussig
T. N. Carver
W. Z. Ripley
C. J. Bullock
E. F. Gay
W. M. Cole
O. M. W. Sprague

Cambridge, Massachusetts
24 February 1911.

Dear Professor Taussig,–

I have pleasure, in accordance with your note of even date, and in the absence of Professor Ripley, in submitting the following memorandum concerning the relations between instructor, assistant and students in Economics 5 and 9a.

The weekly section meetings are held under the direction of the assistant, after conference in each case between the assistant and instructor as to the issues to be discussed and general methods pursued.

Conferences concerning theses are held concurrently by the instructor and assistant at advertised hours. Each student is required to confer at least once with either instructor or assistant before handing in thesis.

The instructor has three hours per week, and the assistant one or more as required, for general conference with students who seek it.

The correction of weekly papers is done by the assistant.

The correction and grading of hour examinations, theses and blue books is done by the assistant under the supervision and in conference with the instructor. In particular all grades of E, A and D are scrutinized by the instructor, who goes over the blue-books and theses and assigns finalgrades in consultation with the assistant.

Very sincerely yours,
R. C. Whitnack
Austin J. Fellow: Ec. 5 and 9a.

__________________

Source for the memoranda: 

Harvard University Archives. President Lowell’s Papers, 1909-1914. Box 15, Folder 413 “1909-14”.

Source for course listings information:

Harvard University. Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences for the Academic Year 1910-11.

Source for ex post staffing of courses:

Harvard University. Report of the President of Harvard College, 1910-1911, pp. 48ff.

Source for Harvard economics Ph.D.’s:

Economics in the Rear-view Mirror’s page “Harvard. Doctoral Dissertations in Economics, 1875-1926”.

Image Source: Harvard University #2, Cambridge, Mass, c1910. Library of Congress Prints and Photographs Division Washington, D.C. 20540 USA.

 

 

Categories
Economists Gender Harvard Radcliffe

Harvard-Radcliffe. Economics Ph.D. alumna, Mariam Kenosian Chamberlain, 1950

 

 

According to her New York Times obituary, Mariam Kenosian Chamberlain (April 24, 1918—April 1, 2013) became known as “the fairy godmother of women’s studies” during her time as program director at the Ford Foundation (1971-1981). But before beginning her highly successful career in research project sponsorship, she had taught at Connecticut College, the School of General Studies at Columbia University, and at Hunter College, having studied undergraduate and graduate economics at Radcliffe-Harvard. She was awarded in 1950 a Ph.D. for her thesis, “Investment Policy in Large Corporations”.

After listing her scholarship awards at Radcliffe along with the dates of her academic degrees, I include two items that provide the testimony of a few of those who knew her professionally and personally. We learn (among many genuinely important things) that towards the end of her long life, she was a regular reader of Paul Krugman’s New York Times columns and “for whatever reason[,] she wanted to see, meet, engage, or possibly hang out with men”. She was clearly an inspirational figure for many and that “she loved being an economist”.

________________________

From the Radcliffe College Annual Presidential Reports

Freshman Year

Marian [sic] Kenosian (class of 1939). Recipient of an “Emergency Award” from the Permanent Charity Scholarship Fund.

Source: Radcliffe College, President’s Report for 1935-36, p. 37.

 

Sophomore Year

Marion [sic] Kenosian (class of 1939). Recipient of a Lois M. Parmenter Undergraduate Scholarship.

Source: Radcliffe College, President’s Report for 1936-37, p. 32.

 

Junior Year

Mariam Kenosian (class of 1939). Recipient of a partial Abby Y. Lawson Memorial undergraduate scholarship.

Source: Radcliffe College, President’s Report for 1937-38, p. 31.

 

Mariam Kenosian (class of 1939). Recipient of a partial Permanent Charity Fund undergraduate scholarship.

Source: Radcliffe College, President’s Report for 1937-38, p. 33.

 

Senior Year

Mariam Kenosian (class of 1939). Recipient of an Ellen M. Barr undergraduate scholarship.

Source: Radcliffe College, President’s Report for 1938-39, p. 30.

 

Mariam Kenosian Bachelor of Arts (June 1939) cum laude (Honors) in economics.

Source: Radcliffe College, President’s Report for 1938-39, p. 35.

 

Graduate School

Mariam Kenosian Chamberlain, Master of Arts (March 1948).

Source: Radcliffe College, President’s Report for 1947-48, p. 21.

 

Mariam Kenosian Chamberlain, Ph.D.  (June 1950).

Subject, Economics. Special Field, Business Organization and Control. Dissertation, “Investment Policies of Large Corporations”.

Source: Radcliffe College, President’s Report for 1949-50, p. 20.

________________________

In Memoriam: Mariam K. Chamberlain, 1918–2013
Posted on April 3, 2013

Dr. Mariam K. Chamberlain, a founding member of the Institute for Women’s Policy Research and the founding president of the National Council for Research on Women, was the driving force behind the cultivation and sustainability of the women’s studies field of academic research. She is the namesake of IWPR’s prestigious Mariam K. Chamberlain Fellowship for Women in Public Policy, which trains young women for successful careers in research. Throughout her life, Dr. Chamberlain fought discrimination, established new roles for women, and championed the economic analysis of women’s issues. She passed away on April 2, 2013, at 94, just a few weeks shy of her 95th birthday, following complications from heart surgery.

A Lifetime of Lifting Up Women’s Voices in Academia and Research

The daughter of Armenian immigrants, Mariam Kenosian Chamberlain was born and raised in Chelsea, Massachusetts, a working class suburb of Boston. Interest in the prevailing conditions of the depression led her to economics. She attended Radcliffe College on a scholarship and worked as a research assistant in the summers for Wassily Leontief, who later won the Nobel Prize in economics. During World War II, she worked at the Office of Strategic Services (OSS), on the staff of a “brain trust” of economists and other social scientists assembled by General William (“Wild Bill”) Donovan to aid in the war effort. As part of the research and analysis branch, she worked on estimates of enemy, military, and industrial strength.

In 1950, Mariam Chamberlain received her Ph.D. in Economics from Harvard University, making her one of the few women of her generation to earn a Ph.D. in the field. In 1956, Dr. Chamberlain joined the Ford Foundation, where she served as a program officer in Economic Development and Administration, and then Education and Public Policy, until 1981. While at Ford, she spearheaded the funding of the academic women’s research and women’s studies movement; she is said to have provided nearly $10 million in support of new feminist initiatives. Her projects fostered a new analysis of women’s position in society, expanded women’s choices in the university, and supported the development of equality in law. She played a major role in building the academic infrastructure necessary to better understand women’s experiences and inform improved policies for women. In short, she paved the way for organizations like IWPR to thrive, and stocked the research pipeline with skilled women and men who have made important contributions to the study of women and public policy.

Economics and the elimination of discrimination against women around the world remained the heart of her wide-ranging activities. After leaving the Ford Foundation in 1982, she headed the Task Force on Women in Higher Education at the Russell Sage Foundation. The Task Force’s work culminated in a published volume, Women in Academe: Progress and Prospects. Before leaving Ford, she had funded an initial meeting of a group of women’s research centers. That meeting established the National Council for Research on Women, which unanimously elected her its first president. She served in that role until 1989, after which she continued to go into the office every day as Founding President and Resident Scholar.

A Legacy of Training the Next Generation of Women Policy Researchers

IWPR owes much to Dr. Chamberlain. In 1987, Dr. Heidi Hartmann founded IWPR out of a need for comprehensive, women-focused, policy-oriented research. Dr. Chamberlain, who dedicated her career to lifting up women’s voices in academia, recognized the importance of a policy research institute centered on women, grounded by social science methodology, economics, and rigorous data analysis. Applying academic research to inform better policies for women was a natural extension of Dr. Chamberlain’s work, and she became a founding member of IWPR and served on its Board of Directors for nearly 20 years.

IWPR endowed the Mariam K. Chamberlain Fellowship in Women and Public Policy to recognize the legacy of Dr. Chamberlain’s tireless efforts to open doors for the women researchers who came after her. Nearly 20 young women have gained valuable research experience as Fellows at IWPR since the beginning of the Mariam K. Chamberlain Fellowship. Past Mariam K. Chamberlain scholars have gone on to hold positions at government agencies such as the U.S. Department of Health and Human Services and the Congressional Research Service, earn advanced degrees from universities such as Harvard University, Columbia University, Stanford University, The George Washington University, and Brown University. Rhiana Gunn-Wright, IWPR’s current Mariam K. Chamberlain Fellow, was just recently named a 2013 Rhodes Scholar. The fellowship has allowed IWPR to expand its research capacity, strengthen its commitment to cultivating the next generation of women researchers and leaders, and ensure that a pipeline of experienced women researchers are at the policy-making table.

The fellowship helps sustain Dr. Chamberlain’s legacy, built on the belief that relying on credible data and research, rather than anecdote and bias, leads to better policies for working women, which in turn contribute to improved long-term outcomes for their families. May she not only rest in peace, but rest assured that, because of her efforts, there are many more women able to take up the torch she leaves behind.

Source:  Institute for Women’s Policy Research.  Blog post captured by the internet archive, Wayback Machine, on May 13, 2013.

________________________

Excerpts and selections from speeches at Mariam Chamberlain’s Memorial

From Florence Howe, founder of Feminist Press, blog post (July 15, 2013).

From the Eulogy by David Kenosian (nephew)

I got my first impressions of Mariam through my father, her younger brother Harry, who told me about her life as the daughter of Armenian immigrants in Chelsea, Massachusetts, as a student at Radcliffe, and as a pioneering career woman. He admired his sister because, I think, she epitomized what he saw as key Armenian values, education and hard work. She herself affirmed those values; she insisted that her older brother Tony was the scholar in the family who set the standards of achievement. But following Tony’s example meant overcoming poverty and possibly the reservations of her parents who, like many Armenian parents back then, assumed that their daughter would marry and have a family. In continuing her education Mariam took the best of Armenian culture to break free from its constraints, and later did the same on a larger scale. At Harvard she like other women had to use a different entrance to some buildings than men. She later committed herself professionally to opening doors for women across the country in decades of tireless work.

Mariam’s talents impressed her professor, Edward Mason, who helped build an economic research branch in the OSS. Last December, Mariam told my nephew Tom and me that Edward Mason took her and other assistants to a summit meeting in Canada to support the American delegation: without eight years of entering Radcliffe, Mariam had gone to a conference where Churchill and Roosevelt met. With characteristic modesty she added that she never saw Churchill or Roosevelt. As a woman, she had a better working relationship with her British counterparts than with the men in the American delegation. You can see the hallmarks of her later career; her determination to overcome barriers, her service in the cause of justice, and the collaborative and at times international spirit of her work…

 

Professor Lois Gray, “On Mariam Chamberlain”

I first met Mariam Chamberlain in 1959—fifty-four years ago—not in New York City where we both lived but in Jamaica, West Indies, where her husband, Neil Chamberlain, and I were invited as speakers at an International Conference on Labor. Neil, a leading scholar and writer in the field of industrial relations, was my professor at Columbia University where I was studying for my Ph.D. Both of us brought out spouses to the conference. Neil bonded with my husband who was a labor leader, and Mariam and I discovered our common interest in opportunities for working women. A long lasting friendship grew out of this chance encounter in the Caribbean. [Note: Mariam and Neil were married in 1942 and divorced in 1967?/1970?]

Over the years I came to know about and admire Mariam’s path-breaking role at the Ford Foundation where she was responsible for funding women’s studies programs in universities throughout the United States and other countries. At our occasional lunches she casually referred to experiences in Nairobi, Pakistan, Europe, and South America. I also witnessed her emergence as a leader in the American Economics Association, where she was able to bring feminist issues to the fore in a profession dominated by men. In the year 2000 we were both involved in a comparative analysis of women’s progress toward leadership recognition in various professions, ranging from military to corporate. I wrote the section on Women in Labor Unions, and Mariam, on Academic, for a book published by the American Woman. We had fun comparing notes on our findings. (Women do better in achieving leadership roles in academe than in corporations or unions.) Throughout my more than fifty years of knowing Mariam Chamberlain, I never ceased to be amazed—awed—by her any accomplishments in creating lasting institutions and programs for the advancement of women. Always unassuming and laid back, Mariam was a powerhouse who changed our world. Her life of selfless dedication is a role model for us all.

 

From Dr. Debra L. Schultz, “Remarks”

…Because of Mariam, I learned that as a woman, one simply obtained a PhD. I had no role models for this and she demystified it for me. If getting a doctorate in economics at Harvard as the girl child of Armenian immigrants during World War II was no big deal, what did I have to complain about?

Mariam loved being an economist. During our last visit in March, she reminisced about her time as a Radcliffe undergraduate, when her mentor, future Nobel Prize-winning economist Wassily Leontief, would read the students chapter drafts sent over by John Maynard Keynes! For a moment, I felt her transform into that excited young woman intellectual and it was thrilling.

Averse to the touchy-feeling side of feminism, she nevertheless drew circles of adoring young women around her, by keeping track of our every personal and professional move. I’m proud to have followed in her footsteps to become a feminist in philanthropy—I never knew such a thing existed before Mariam and the Ford stories—and to work with women internationally, which Mariam did decades before it was trendy.

Mariam never seemed to inhabit a particular age, and she also had a slightly naughty twinkle in her eye. Very little got past that eye, even if she pretended not to notice slights or injustices that came her way. Her satisfaction came from supporting, connecting, and catalyzing. When I had the great opportunity to help start the first international women’s program at the Soros Foundation, Mariam told me ruefully that as a program officer, “you give away your best ideas and let others implement them.” She modeled a generous way of empowering others, not aggrandizing herself…

 

Marjorie Lightman, “Remarks”

…Since girlhood Mariam had probably regarded the people and opinions voiced around her with an alienated eye. She certainly set expectations for herself in line with an internal compass. After all, at 18, while her brother chose Boston College she chose Radcliffe.

Mariam often told me that she was fortunate to have always worked in organizations that were young and making their mark on the world. Who would not thrill at Harvard classes reading John Galbraith’s newest works in manuscript; or working at the OSS in Washington during the World War II, when Gen. Wild Bill Donovan brought together “best and the brightest” to outwit the enemy?

Her commitment to elite institutions on the rise never wavered. When she lived in New Haven with her husband, Neil Chamberlain, who was an economist at Yale, she became part of the Yale Growth Center – an economic think tank founded in 1961. After her divorce, she joined the Ford Foundation, which under McGeorge Bundy had the heady atmosphere of new possibilities and the kind of intellectual energy that made risk into an adventure.

Working under Marshall Robinson she became part of Ford’s audacious $40 million investment in reconceiving business education. The plan to effect change in undergraduate business education and to institute an academically acceptable Masters in Business administration privileged large and mostly elite institutions with funding that sometimes dwarfed mere mortals. Rarely have a foundation’s plans been so successful.

By the time women’s clamor for change had reached the ears of Ford in the early 1970s, Mariam had become a skilled program officer and absorbed lessons of success from the business education program. With a pot of money that was approximately ¼ that spent on business education, she sought out nascent organizations that could become long-lasting institutions and anchor women-centered research and education into the future.

She spread her funds among research centers, academic programs, and scrappy grass-roots organization and coalitions. Not surprisingly they included Stanford, Michigan, Wellesley, and two centers at Radcliffe – Schlesinger and the Bunting. However, risk was the nexus of her intellectual landscape. She was, after all, an economist who thought in algebraic equations. The unknown “x” factor was central to her calculations. And it was in this space – between the provable, the probable and the possible – that she made her most original decisions. She believed that the Feminist Press, IWPR, and the National Council for Research on Women would be the institutions of the future.

It was also in this space that our friendship thrived. We had very different kinds of minds and education. We often disagreed. Her conviction that economics was the queen of disciplines was never shaken. She would ask why I spent my time on history, let alone ancient history. Just recite the facts, she would say. I would respond that the facts had different interpretations. She would parry: not if you presented them properly. I liked life lived on the margins. She was unwavering in her conviction that change came through institutions. She wanted data; I insight. We were intellectual sparring partners who never were bored by our exchanges and who never were threatened by our differences…

 

From “Eulogy” by Mary Rubin

…In 1982, Mariam asked me to join her at the Russell Sage Foundation on a book project to examine progress and prospects for women in higher education, a companion assessment to an earlier book by Alice Rossi. Immediately she welcomed me into Russell Sage’s heady atmosphere of notable social scientists, and often invited me to tag along at elegant meals and meetings she hosted for prominent feminists. Today, whenever I invite a guest for lunch at the Harvard Club, I relish following the tradition she established.

Becoming a Resident Scholar at Russell Sage represented a crucial transition in Mariam’s life. She could have chosen to envelope herself in nostalgia for what Ford had enabled her to achieve. But that was never Mariam’s way. Instead, she stayed vigilant for opportunities. She maintained her accessibility to a steady stream of feminist scholars and practitioners who arrived seeking her advice and contacts in the foundation world. In these meetings, I learned to pay as much attention to what she didn’t say as to what she actually said.

Not only did she help me to find my voice in discourse with thinkers who’d completed their doctorates before I was born, she introduced me to Zabar’s coffee beans, elegant Italian leather boots by Galo, and the pleasures of eating only hot fudge sundaes for dinner. I had barely started working for her when she agreed to guarantee the lease on my first-ever apartment—a railroad flat on the Upper East Side with a claw foot bathtub in the kitchen. In characteristic fashion, she shared my delight, while simultaneously withholding her opinion of its truly miniscule size.

No matter how early I arrived at work, or how late I stayed, she was always ensconced in her office; however, she never pressured me to adopt the same schedule. She set high expectations, but rarely criticized. Hers was a quiet form of guiding and shaping. She taught me to listen intently, to ask probing questions, to be steadfast in advocating my perspective. Her goal always was to win others over, never to squash them. When a discussion moved in an unproductive direction, I watched how she lightened the atmosphere by describing a favorite New Yorker cartoon—and then resumed her line of argument. I’m guessing she used this technique frequently while at Ford…

 

Dorothy O. Helly, “Remarks”

I came into Mariam’s orbit in the late 1970s through Marjorie Lightman and the Institute for Research in History. We connected in the following years over a number of shared interests, one in particular being curriculum transformation, first at Hunter College and later among the faculty throughout the City University. She often urged me to “write it up,” for to Mariam, if it was worth doing, it was worth telling others about it. We traveled in the same groups that went to Nairobi and Beijing, and through these years of international women’s studies concerns, I became a “station” on the way for women from abroad seeking information about grants, coming to me at Hunter and being sent by me to Mariam, wherever she was located, from Russell Sage to Roosevelt House to the latest offices of the National Council for Research on Women.

Mariam, Florence, and Helene became a troika in my life as well, and they always surprised me with their delightful hostess gifts at the annual New Year’s party my husband and I gave to celebrate the Millennium and the decade that followed.

Mariam and I met up over the years at the conferences of National Women’s Studies Association and the Berkshire Conference on Women’s History, often having at least one dinner together to discuss whatever was the latest news or just to schmooze. Many times these dinners included at least one other woman, and I listened to their projects being presented to her for help and approval. I remember in particular the dinner with Heidi Hartmann when her policy organization was barely more than a gleam in her eyes.

I also remember being in the same university dormitory in Nairobi and chatting in the hallway before going to bed. We were in the same Swiss-run hotel in Beijing, seeing each other at breakfast and dinner. In other words, Mariam and Women’s Studies were intertwined in my life, a person with whom one could talk about the latest issues, particularly transforming the curriculum and the problems facing the new Ph.D. programs in Women’s Studies. I know that Mariam was an important sounding board for many people. It was a way for them and her to keep up with the latest activities in the field . It also provided a way to tap her suggestions, based on her wide, wide knowledge of who was doing what and, of course, where it might be possible to get project funding.

Mariam’s generosity was open and casually extended. When she had to cancel her trip to Australia for a meeting of the International Congress on Women, she offered me her prepaid room. I accepted, and then, in the same spirit, shared it with another woman who did not have a place to stay. Mariam, of course, wanted a full report when I returned.

We sat together, often literally, on the board of the Feminist Press, and across the table at Parnell’s with people like Marjorie and Blanche Cook. On the trip from Beijing, via Helsinki, we both accepted a $200 bribe from the airline to bump us off our flight to take another one three-hours later. That allowed us time to wander the Helsinki airport, window shopping, and my personal coup was to convince Mariam, who never seemed to buy herself any personal luxury, to purchase a large amber and silver ring. She wore that ring on occasions like Feminist Press and NCRW galas, and she was wearing it the last time I saw her this year. Like so many others, my life was touched by hers, and I have many happy memories by which to remember her.

 

From Lybra Clemons “Eulogy for Mariam”

…After graduate school and years of working at nonprofits, I began working at the National Council for Research on Women (the Council) in 2003. My office was next door to Mariam’s….

Towards the end, it was quite interesting to see Mariam. She had good days and not so great days. I have to say that her unpredictability was somewhat entertaining. I wonder if she was doing this for us….just to keep us on our toes and to get a giggle every now and then.

Honestly – I would walk in the door of Parnells (her favorite restaurant), and wonder what decade Mariam thought she was in today. Sometimes it was 1972….. and all of her stories would center around that decade. Then it was 1935…… But – we indulged her.

Again –there were days when Mariam was so sharp, that I felt downright stupid and couldn’t keep up. If you had not read and/or analyzed Paul Krugman, she was not amused.

One of our last outings together at Parnells was particularly interesting. Mariam, Gwen, Joan and I dined with Mariam and observed her becoming more concerned with the “lack of men”. She kept saying “where are the men?”… and pointing to people at Parnell’s. She would see a man and say “there’s a man”. Clearly she wanted to make sure we included men…. Well, I think that was the point. I love Mariam dearly, but for whatever reason she wanted to see, meet, engage, or possibly hang out with men – I knew that Parnell’s was likely the last place that we should look for sourcing these types of men. But – the point was well taken….

 

From “Remarks” by Helene Goldfarb

Good evening. My name is Helene Goldfarb and I am the President of the Feminist Press at CUNY. I am here to speak of Mariam as a friend for many years but also as a very important part of who the Feminist Press was and what it has become over the years because of her nurturing and caring. Mariam, who was a Program Officer at the Ford Foundation, was one of the first to make a grant to the Feminist Press. It was for $12,000 for Who’s Who and Where in Women Studies. Interestingly, she wouldn’t let us use computers because she “didn’t want to become involved with us” but she changed her mind and introduced us to Terry Saario also at Ford who gave us our first large grant for the “Women and Work” high school series. Mariam continued her interest in the Press and gave us a small grant to bring five women to Copenhagen in 1980 and to organize two weeks of workshops and panels on women’s studies.

Even after she left Ford in 1982, Mariam’s interest in the Press never flagged. She became a very active member of the Board of Directors of the Press and remained on our board until she passed away last month. While she was not as active as she would have liked to be this past year or so, whenever Florence and I met her for dinner at Parnell’s, the Press was always on her mind. I miss those dinners at Parnell’s and Sunday is a little lonelier for the lack of them.

It is always a little difficult to express thanks publically for the many years she contributed not only expertise to the Press but also donations. Without her support, our Galas would not have been as successful and we certainly would not have been able to print many of the books that are found in bookstores today…

 

Heidi Hartmann

Mariam Chamberlain was a cherished adviser to myself and to the Institute for Women’s Policy Research. She was a founding member and a generous supporter from its inception in 1987. She served 18 years on our Board of Directors. She was knowledgeable and wise about the ways of foundations, and while she was unfailingly encouraging and supportive, I learned to pay attention to the rare instances in which she expressed skepticism about the likelihood of getting funding for some particular project or other. More often her suggestions of where to go and whom to meet with led to productive relationships for IWPR. She understood that nonprofits would actually sometimes have negative profits, and I recall one instance when several of IWPR’s board members were a bit agitated about a couple of years in the red in a row, when she said something like, “aren’t deficits normal for nonprofits?” and then she lent us funds so we could pay our bills until some expected grants arrived. Her general view seemed to be that if an endeavor was worthwhile it might go through some ups and downs but it would prove its worth in the long run. And she was in it for the long run.

Mariam and I both studied economics at similar institutions and knew many of the same people and, despite the difference of a generation, had had some of the same experiences in being a small minority in a male-dominated field. I believe I first met Mariam at a business meeting of the American Economics Association, probably in the early 1980s when a group of progressive members was trying to pass a set of resolutions. My cohort was sitting together, and when our resolutions would come up we would all raise our hands while the rest of the hands remained down, except for one, a small, older, very professional-looking woman. The content and the outcome of the motions are long forgotten, but I recall Mariam like it was yesterday. That event provided a hint of the deep and abiding radicalism that was Mariam.

I got to know Mariam better at the 1987 NWSA meetings held at Spellman College when we, both being frugal, stayed in the dorms and asked them to assign us a roommate and we got each other. Just then in the process of forming IWPR, I shared my dreams for IWPR and we shared some personal stories in late night discussions. My mother is virtually the same age as Mariam and came to America on her own in 1938, and so I like Mariam was an immigrant daughter. And like her I rose up from poverty through getting good grades and earning a scholarship to a top school. Perhaps because Mariam was so much like my mother (both very smart, courageous, kind, and persistent), I thought of Mariam as my intellectual mother, an intellectual version of my own working-class mother.

Mariam loved IWPR because we use economics to advance women and she knew how much difference having numbers makes in the policy world. She loved being part of that world through IWPR. She valued the fellowship we named after her in 2001. IWPR typically funds a young woman en route to graduate school to work at IWPR for an academic year to learn practical research skills in a policy setting. More than 100 young people apply every year, and thousands of graduating students learn about Mariam and the opportunity to use social science to help achieve social justice. I am very pleased to let you know that Mary Rubin and the Borrego Foundation have generously provided IWPR with a challenge grant of $95,000 to honor Mariam’s 95 years by expanding our Mariam K. Chamberlain fellowship to give an opportunity to a second fellow each year.

Mariam’s choice to recognize the Feminist Press, the National Council for Research on Women, and IWPR in her will reflects her lifelong commitment to the radical idea of considering women fully human. Many of us here share that commitment and share our love of Mariam….

 

Image Sources:  Mariam Kenosian Chamberlain from Radcliffe Yearbook, 1939 and New York Times obituary (April 7, 2013).

 

Categories
Exam Questions Harvard Leontief Undergraduate

Harvard. Undergraduate mathematical economics. Schumpeter, Leontief, Goodwin. 1933-1950

 

 

Joseph Schumpeter introduced a one semester undergraduate course “Introduction to the Mathematical Treatment of Economic Theory” in the first semester of the 1933-34 academic year at Harvard. Schumpeter taught the course three times and it was taught from 1935-36 through 1947-48 by Wassily Leontief. The course was then continued by Richard Goodwin in 1949-50. This post presents a grab-bag of information that includes early and a late course description, annual enrollment data, a course outline from 1945-46 and five exams. Links to all earlier posts for the course available at Economics in the Rear-view Mirror have been included as well.

Some of the backstory to this course is included in this earlier post (memo by Crum of 4 April 1933 and a list of topics to be covered).

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Course Announcement, 1933-34

Economics 8a 1hfIntroduction to the Mathematical Treatment of Economic Theory

Half-course (first half-year). Mon., 4 to 6, and a third hour at the pleasure of the instructor. Professor Schumpeter, and other members of the Department.

Economics 8a is open to those who have passed Economics A, and Mathematics A, or its equivalent. The aim of this course is to acquaint such students as may wish it with the elements of the mathematical technique necessary to understand the simpler contributions to the mathematical theory of economics.

Source:  Announcement of the Courses of Instruction offered by the Faculty of Arts and Sciences 1933-34 (Second edition) in Official Register of Harvard University, Vol. XXX, No. 39 (September 20, 1933), p. 126.

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Course Enrollment, 1933-34

[Economics] 8a 1hf. Professor Schumpeter. — Introduction to the Mathematical Treatment of Economic Theory.

15 Graduates, 3 Seniors, 5 Others. Total 23.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1933-1934, p. 85.

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Exam not found for Economics 8a, 1933-34

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Course Enrollment, 1934-35

[Economics] 8a 1hf. Professor Schumpeter. — Introduction to the Mathematical Treatment of Economic Theory.

2 Seniors, 1 Junior, 1 Sophomore. Total 4.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1934-1935, p. 81.

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 1935 final exam questions.

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Course Enrollment, 1935-36

[Economics] 8a 2hf. Asst. Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

4 Juniors, 2 Sophomores. Total 6.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1935-1936, p. 82.

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Implicit course outline and course readings with the 1936 exam questions.

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Course Enrollment, 1936-37

[Economics] 4a 2hf. Asst. Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

1 Graduate, 2 Seniors, 3 Juniors, 2 Sophomores, 1 Other. Total 9.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1936-1937, p. 92.

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Final Examination, 1936-37
HARVARD UNIVERSITY
ECONOMICS 4a

Answer at least THREE questions: one in each group

Group I

  1. Discuss the relation between the production function of an enterprise and its cost curve.

 

Group II

  1. Given a cost of a single plant:
    C=\frac{1}{A+X}+BX
    where indicates the total cost, the total output, and the magnitudes of the two constants are such
    that A< 0 and B> 1/A.
    Derive the total cost curve of an enterprise which consists of two identical plants of this kind.
  2. A monopolist sells in two markets a commodity produced without costs. The total revenue, R1, obtained from the sale of qunits of this commodity in the first market is given by:
    {{R}_{1}}=A{{q}_{1}}+Bq_{1}^{2}\text{ }\left( A>0,\text{ }B<\text{ }0 \right)
    The sale of qunits in the second market nets:
    {{R}_{2}}=K{{q}_{2}}+Lq_{2}^{2}\text{ }\left( K>0,\text{ }L<\text{ }0 \right)
    Compute the prices which this monopolist would charge (a) with discrimination between the two markets; (b) without discrimination.

 

Group III

  1. Prove that marginal costs are increasing in the point of minimum average costs.
  2. Prove that a tax on profits cannot affect the output of an enterprise unless it induces it to suspend its operations.

 

Source: Harvard University Archives. Examination Papers. Finals 1937. (HUC 7000.28) Vol. 79. Faculty of Arts and Sciences. Papers Printed for Final Examinations. History, History of Religions, …, Economics, …, Military Science, Naval Science. January-June, 1937.

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Course Enrollment, 1937-38

[Economics] 4a 2hf. Asst. Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

2 Graduates, 2 Seniors, 6 Juniors, 1 Sophomore. Total 11.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1937-1938, p. 85.

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Final Examination, 1937-38
HARVARD UNIVERSITY
ECONOMICS 4a2

Answer THREE questions including question 1. Devote to discussion of question 1 about one hour and a half.

  1. Discuss fully the relation between the production function and the cost curve of an enterprise.
  2. Given:
    1. The cost curve of a monopolist:
      C= A+ BQ+ CQ2
      C indicates the total cost, the total output, A, B, C,are given constants.
    2. The demand function for his product in Market I.
      q1= a1b1p1
      qis the quantity consumed for his product in Market I at the price p1.
      a1and bare given constants
    3. The demand function for his product in Market II.
      q2= a2b2p2
      q2is the quantity taken in at the price p2;
      aand bare given constants.
      The monopolist is able to discriminate between the two markets provided the difference between the two prices is not larger than K
      Find (and express in terms of the given constants) that the value of Kwhich would maximize the sales qin the first market.
  3. Given:
    1. A, monopolist’s cost curve:
      C = A+ BQ+ CQ
    2. The demand curve for his product:
      p= a bQ
      stands for total costs, Q for total output, for the market price, A, B, C, d, and are constants.
      A subsidy at dollars is paid to the monopolist per unit of output.
      Find how large the subsidy must be in order to induce him to produce and sell twice as much as he would without the subsidy.
  4. Is it possible that the average costs of an enterprise are increasing with the output while the marginal costs are decreasing at the same time?
    Give and answer and demonstrate that it is correct.

 

Source: Harvard University Archives. Harvard University Final Examinations, 1853-2001. (HUC 7000.28) Box 4. Faculty of Arts and Sciences. Papers Printed for Final Examinations. History, History of Religions, …, Economics, …, Military Science, Naval Science. January-June, 1938.

_______________

Course Enrollment, 1938-39

[Economics] 4a 2hf. Asst. Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

2 Graduates, 2 Seniors, 2 Juniors, 1 Sophomore. Total 7.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1938-1939, pp. 97-98.

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Exam not found for Economics 4a, 1938-39

_______________

Course Enrollment, 1939-40

[Economics] 4a 2hf. Associate Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

1 Graduate, 1 Sophomore. Total 5.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1939-1940, p. 98.

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Final Examination, 1939-40
HARVARD UNIVERSITY
ECONOMICS 4a2

Answer four questions including question 1.

  1. Discuss the relation between the marginal costs of an enterprise and the marginal productivities of the factors used in production.
  2. An enterprise manufactures two commodities X and Y, using two factors of production, V and W. The production function is x(yb– 1) = vnwm.
    Given the prices px, py, pvand pwwrite down the equations which determine the most profitable outputs of X and Y and the corresponding inputs of V and W.
  3. Given:
    1. The total cost curve of a monopolist
      C = A + Kxand
    2. the market demand curve for his product
      p = B – Lx,
      p is the price and x the quantity of the commodity produced and sold. A, K, B and L are positive constants.
      An excise tax of z dollars per unit of output is being levied.
      What magnitude of z (expressed in terms of the given constants) would maximize the total tax receipts?
  4. Prove that the price of labor will exceed its marginal value productivity if
    1. labor is the only factor of production used in manufacture of a given commodity,
    2. the producer of this commodity sells his output on a purely competitive market, but is the only (“monopsonistic”) buyer of the particular kind of labor used in his plant,
    3. The supply curve of labor is negatively inclined.
  5. Discuss the problem of price discrimination by a monopolist.

 

Source: Harvard University Archives. Harvard University Final Examinations, 1853-2001. (HUC 7000.28) Box 5. Faculty of Arts and Sciences. Papers Printed for Final Examinations. History, History of Religions, …, Economics, …, Military Science, Naval Science. June, 1940.

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Economics 4a not offered in 1940-41

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Course Enrollment, 1941-42

[Economics] 4a 2hf. Associate Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

1 Graduate, 5 Seniors, 8 Juniors, 3 Sophomores, 1 Freshman. Total 18.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1941-1942, p. 62.

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Course Outline Economics 4a 1941-42 (and 1942-43)

https://www.irwincollier.com/harvard-intro-to-mathematical-economics-schumpeter-leontief-1935-42/

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Final Examination, 1941-42
HARVARD UNIVERSITY
ECONOMICS 4a

Answer one question in each of the following three groups:

(a) 1 or 2
(b) 3 or 4
(c) 5 or 6

  1. Describe in detail the relation between a production function and the corresponding cost function.
  2. Show that the slope of a supply curve of a single enterprise is positive.
  3. Show that a total cost curve can be of such a shape that the marginal costs are increasing but the average costs decreasing throughout its whole length. Give example.
  4. The cost curve of an enterprise is
    C = A + x + Bx2+ Kx3
    (C are the total costs, x – the output, A, B, and K – constants).
    What is the lowest competitive price at which the owner will find it profitable to operate the plant rather than to cease production entirely?
  5. An enterprise consists of two identical plants. Each has a following cost curve:
    C = A + Bx2+ x3
    (C are the total costs, x – the output, A and B are constants).
    Compute the combined cost curve of the whole enterprise.
  6. Given a production function y = f(x,z)
    (y is the amount of product, p– its price, x and z inputs of two factors, pand p– their respective prices.)
    The producer maximizes his profits under conditions of pure competition. Show that an increase of the price pof factor x will reduce the amount (x) of this factor used in the process of production.

 

Source: Harvard University Archives. Harvard University Final Examinations, 1853-2001. (HUC 7000.28) Box 6. Faculty of Arts and Sciences. Papers Printed for Final Examinations. History, History of Religions, …, Economics, …, Military Science, Naval Science. June, 1942.

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Course Description, 1942-43

Economics 4a 1hfIntroduction to the Mathematical Treatment of Economic Theory. Half-course (first half-year). Mon.4 to 6. Associate Professor Leontief.

Economics A and Mathematics A, or their equivalents, are prerequisites for this course.
The course is intended to instruct beginners in economic theory (having had elementary mathematical training) in the application of elementary mathematical methods in economics and at the same time to enable them to understand some of the major contributions to economic theory made by such writers as Marshall, Cournot, Walras, and Edgeworth.

Source:  Official Register of Harvard University, Vol. XXXIX, No. 45 (June 30, 1942). Division of History, Government, and Economics Containing an Announcement for 1942-43. 

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Course Enrollment, 1942-43

[Economics] 4a 1hf. Associate Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

1 Graduate, 2 Seniors, 4 Juniors, 2 Sophomores, 1 Public Administration. Total 10.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1942-1943, p. 46.

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Exam not found for Economics 4a, 1942-43

_______________

Course Enrollment, 1943-44

[Economics] 4a. (winter term) Associate Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

2 Juniors in ROTC, 1 Radcliffe, 3 Seniors, 4 Navy (V-12). Total 10.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1943-1944, p. 56.

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Exam not found for Economics 4a, 1943-44

_______________

Economics 4a not offered in 1944-45

_______________

Course Enrollment, 1945-46

[Economics] 4a. (fall term) Associate Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory.

1 Senior, 2 Juniors, 3 Sophomores, 2 Radcliffe. Total 8.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1945-1946, p. 58.

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Course Outline, 1945-46

INTRODUCTION TO THE MATHEMATICAL TREATMENT OF ECONOMIC THEORY
Economics 4a
1945-46, Fall Term

  1. Introductory remarks.
    Profit function.
    Maximizing profits.
  2. Cost functions: Total costs, fixed costs, variable costs, average costs, marginal costs, increasing and decreasing marginal costs.
    Minimizing average total and average variable costs.
  3. Revenue function.
    Price and marginal revenue.
    Demand function
    Elasticity and flexibility.
  4. Maximizing the net revenue (profits).
    Monopolistic maximum.
    Competitive maximum.
    Supply function.
  5. Joint costs and accounting methods of cost imputation.
    Multiple plants.
    Price discrimination.
  6. Production function.
    Marginal productivity.
    Increasing and decreasing productivity.
    Homogeneous and non-homogeneous production functions.
  7. Maximizing net revenue, second method.
    Minimizing costs for a fixed output.
    Marginal costs and marginal productivity.
  8. Introduction into the theory of consumers’ behavior.
    Indifference curves and the utility function.
  9. Introduction to the theory of the market.
    Concept of market equilibrium.
    Duopoly, bilateral monopoly.
    Pure competition.
    Monopoly.
  10. Time lag and time sequences.
  11. Introduction into the theory of general equilibrium.

 

Reading: R. G. D. Allen, Mathematical Analysis for Economists.

Evans, Introduction into Mathematical Economics.

Antoine Cournot, Researches into the Mathematical Principles of the Theory of Wealth.

Jacob L. Mosak, General Equilibrium Theory in International Trade.

Weekly problems.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. HUC 8522.2.1, Box 3, Folders “1945-1946 (1 of 2)”.

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Final Examination, 1945-46
1945-46
HARVARD UNIVERSITY
ECONOMICS 4a
Introduction to Mathematical Economics

Answer any three questions.

  1. Show the relationship between the total cost curve and the supply curve of an enterprise.
  2. Show that, at the point of optimum output, the marginal costs of an enterprise are equal to the price of any cost factor divided by its marginal productivity.
  3. A consumer has an income of qdollars in the first and of ydollars in the second year. Although the combined expenditures in the two years equal y1+ y2he can spend more than yin the first year, and correspondingly less in the second year or vice versa. In both years, he purchases one kind of consumers’ goods, its price being pdollars in the first and pdollars per unit in the second year. The utility function which the consumer maximizes is u= f(x1, x2) where is the utility level, xand xthe quantities consumed in the first and second year respectively.
    1. Derive the equations which determine the optimum magnitudes of xand x2.
    2. Show that an increase of the price p1, with p2, y1,yremaining constant, might increase x1.
  4. The demand, q, for the product of a monopolist depends upon the price, p, of his produce and the amount of money, y, which he spends on advertising. The total production cost, c, depends upon the quantity of output, q. Given the demand function: q=\frac{A}{p}+{{y}^{{1}/{4}\;}}-p
    and the total (production) cost function = q
    where is a positive constant;
    Determine the output, the price, and the advertising outlay which would maximize the profits (total revenue minus total outlay) of this enterprise.
  5. The well-being, u, of a worker depends upon the amount, x, of consumers’ goods which he can buy with his daily wage, and the number of hours of leisure, y, which remain to him after he finishes his daily work:
    u= f(x, y)

    1. Derive the equations determining the number of hours (call it l) of daily work which he will be willing to do at the wage of dollars per hour, if the price of the consumers’ good is dollars per unit.
    2. Show that an increase of the hourly wage rate might reduce the number of hours which the worker will choose to work.

 

Source: Harvard University Archives. Harvard University Final Examinations, 1853-2001. (HUC 7000.28) Box 11. Faculty of Arts and Sciences. Papers Printed for Final Examinations. History, History of Religions, …, Economics, …, Military Science, Naval Science. January, 1946.

_______________

Economics 4a not offered in 1946-47

_______________

Course Enrollment, 1947-48

[Economics] 4a. Professor Leontief. — Introduction to the Mathematical Treatment of Economic Theory (Sp).

2 Graduates, 6 Seniors, 8 Juniors, 1 Sophomore, 2 Public Administration, 1 Radcliffe. Total 20.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1947-1948, p. 89.

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Reading list and midterm and final examination question, 1947-48

_______________

Economics 4a not offered in 1948-49

_______________

Course Enrollment, 1949-50

[Economics] 104 (formerly Economics 4a). Assistant Professor Goodwin. — Introduction to the Mathematical Treatment of Economic Theory (Sp).

3 Graduates, 6 Seniors, 1 Junior, 2 Sophomores, 1 Public Administration, 1 Radcliffe. Total 14.

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1949-1950, p.72.

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Course Texts on Library Reserve, 1945-46

R.G.D. Allen. Mathematical analysis for economists

W.L. Crum. Rudimentary mathematics for economists and statisticians

P.A. Samuelson. Foundations of economic analysis.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. HUC 8522.2.1, Box 4, Folders “1949-1950 (1 of 3)”.

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Image Sources: Schumpeter and Leontief from Harvard Class Album 1950, Goodwin from Harvard Class Album 1951.

Categories
Economists Harvard Sociology Wellesley Wing Nuts

Harvard. Economics Ph.D. alumnus. Vervon Orval Watts, 1932

 

You are about to encounter a Harvard Ph.D. economist, vintage 1932, who illustrates just how deep the roots of American right-wing economics can be traced. 

A disciple of Harvard Professor Thomas Nixon Carver, Vervon Orval Watts evolved from his checkered pre- and post-Harvard Ph.D. (1932) academic career to become an apostle of laissez-faire, anti-Keynesianism, anti-globalism, and anti-communism — first as chief economist of the Los Angeles Chamber of Commerce and later as an editor/economist with the Foundation for Economic Education. In 1963 he became a leading figure at the young conservative business college, the Northwood Institute (now Northwood University) in Michigan, where he headed the Division of Social Studies over the next two decades.

Watts was hired by Leonard Read [greatest hit “I, Pencil”] in 1939 to become the chief economist for the Los Angeles Chamber of Commerce, where Leonard Read was executive director. Read later made Watts the leading economist at the Foundation for Economic Education (FEE). From Watts’ papers at the Hoover Institution Archives, Economics in the Rear-view Mirror was able to provide some of the back-story to the publication of the FEE publication “Roofs or Ceilings?, a famous Friedman-Stigler anti-rent-control pamphlet from 1946.

The Foundation for Economic Education posted a previously unpublished interview with Watts that took place in the mid-1970s. Here is a link to an archived copy.

Birth/Death Dates for Vervon Orval Watts:

Born: March 25, 1898 in Walkerton, Bruce County, Ontario, Canada
Died:  March 30, 1993 in Palm Springs, California.

Fun Facts: Northwood University is home to the DeVos Graduate School of Management. The DeVos family (Amway) was married into by Elisabeth (Betsy) Dee Prince who is currently serving as the United States Secretary of Education. Her brother Erik Prince is the founder of Blackwater USA.

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From Harvard University sources

1926-27. Vervon Orval Watts was the Christopher M. Weld Scholar in Economics. Fifth-Year Graduate Student. Instructor in Economics and Tutor in the Division of History, Government, and Economics.

Source: Report of the President of Harvard College, 1926-1927, p. 111.

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Ph.D. awarded in 1932

Vervon Orval Watts, A.B. (Univ. of Manitoba) 1918, A.M. (Harvard Univ.) 1923.
Subject, Economics. Special Field, Sociology. Thesis, “The Development of the Technological Concept of Production in Anglo-American Thought.”
Associate Professor of Economics, Antioch College.

Source: Report of the President of Harvard College, 1931-1932, p.124.

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Vervon Orval Watts
(1898-1993)
c.v.

Taught in Gilbert Plains High School in Ontario, Canada.

1923-26. Instructor in Sociology, Clark University.

1927-29. Instructor Harvard University.

1930. Visiting lecturer, Wellesley College.

1930-36. Associate professor of economics, Antioch College.

1936-39. Associate professor of economics, Carleton College.

1939-46. Economic counsel, Los Angeles Chamber of Commerce.

1946-49. Editorial director and economist, The Foundation for Economic Education.

1949-51. Visiting professor of economics, Claremont Men’s College.

1949-64. Economic counsel, Southern California Edison Company.

1951-57. Columnist, Christian Economics.

1961-63. Visiting professor of economics, Pepperdine College.

In the mid-1960s Watts was the Dean of the short-lived Freedom School Phrontistery in Colorado, the brainchild of Robert LeFevre that was to become a libertarian version of Politics, Philosophy, and Economics.

1963–84. Professor of economics and chairman of the Division of Social Studies, Northwood, Institute.

1975-76. First Lundy Professor of the Philosophy of Business at Campbell University, N.C. [on leave of absence from Northwood Institute].

Producer and moderator of radio and television forum programs.
Regular contributor to The Freeman and The National Review.

Books:

Why Are We So Prosperous.[1938]
Do We Want Free Enterprise
? [1944]
Away from Freedom, the Revolt of the College Economists. [1952]
Union Monopoly: Cause and Cure. [1954]
The United Nations: Planned Tyranny.[1955]
Politics vs. Prosperity. [author and editor, 1976]

Sources: V. Orval Watts (Co-Author and Editor). Free Markets or Famine.[link to 1975 second edition] Midland, Michigan: Ford Press, 1967, p. 578. Copy in the Hoover Institution Archives. Papers of V. Orval Watts. Box 17. Obituary in the Los Angeles Times, 1 April 1993.

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Obituary by a comrade-in-arms

Murray N. Rothbard, “V. Orval Watts: 1898-1993” reprinted in Making Economic Sense (2nded., 2006), pp. 450-452.

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Vervon Orval Watts (1898-1993)
Selected Awards

1918. Gold Medalist in political economy, University of Manitoba.

1967. Liberty Award, Congress of Freedom, Birmingham, Alabama.

1967. Honor Certificate Award, Freedom Foundation, Valley Forge.

Source: Southwest Dallas County Suburban (Jan. 21, 1971) p. 9.

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Obituary

V. Orval Watts; Chamber of Commerce Economist
by Myrna Oliver

Los Angeles Times, April 01, 1993

V. Orval Watts, the first full-time economist employed by a chamber of commerce in the United States, has died in Palm Springs at the age of 95.

Watts, who died Tuesday, was named in 1939 as economic counsel for the Los Angeles Chamber of Commerce, which at the time was the largest organization of its kind in the world. He continued in the position until 1946, when he became editorial director for the Foundation for Economic Education in Irvington-on-Hudson, N.Y.

Before the United States was thrust into World War II, Watts advised businessmen convening in Los Angeles that “Europe’s war” should teach Americans four things–to avoid war, to avoid monopolies and price-fixing, to avoid restrictions on trade and output designed to make work or maintain prices, and to remember that credit is sound only when based on production.

Once the United States was in the war, Watts repeatedly cautioned that wartime inflation created only the illusion of prosperity rather than actual prosperity.

Vervon Orval Willard Watts was born March 25, 1898, in Manitoba [sic, Ontario], Canada, and earned his bachelor’s degree at the University of Manitoba in 1918. He later earned master’s and doctoral degrees in economics at Harvard University.

He taught for more than six decades–at Gilbert Plains High School in Ontario, Canada; Clark University; Harvard; Wellesley; Antioch College; Carlton College; Claremont Men’s College; Pepperdine University, and Campbell College. He was professor emeritus of Northwood University, where he served as director of economic education and chairman of the Division of Social Studies from 1963 to 1984.

Watts also served during the 1950s as economic counsel for Southern California Edison, Pacific Mutual and other companies in Los Angeles. He contributed regularly to publications such as “Christian Economics,” “The Freeman” and “National Review.”

His books included “Why Are We So Prosperous?” in 1938, “Do We Want Free Enterprise?” in 1944, “Away from Freedom” in 1952, “Union Monopoly” in 1954, “United Nations: Planned Tyranny” in 1955, “Free Markets or Famine” in 1967 and “Politics vs. Prosperity” in 1976.

Watts is survived by his wife, Carolyn Magill Watts; a son, Thomas; daughters Joan Carter, Carol Higdon and Louise Crandall; nine grandchildren, and two great-grandchildren…

Source: Los Angeles Times. April 1, 1993.

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Brief, Official History of Northwood University

On March 23, 1959, two young men with an idea, a goal, and a pragmatic philosophy to encompass it all, broke away from their careers in a traditional college structure to create a new concept in education.

Their visionary idea became a reality when Dr. Arthur E. Turner and Dr. R. Gary Stauffer enrolled 100 students at Northwood Institute. They used a 19th-century mansion in Alma, Michigan, as a school building, a small amount of borrowed money for operating expenses and a large amount of determination.

Northwood was created as the world was changing. The Russians had launched Sputnik and America was soon to follow. Stauffer and Turner watched the race to space. They envisioned a new type of university – one where the teaching of management led the way. While the frontiers of space were revealing their mysteries, Stauffer and Turner understood all endeavors – technical, manufacturing, marketing, retail, every type of business – needed state-of-the-art, ethics-driven management.

Time has validated the success of what these two young educators called “The Northwood Idea” – incorporating the lessons of the American free-enterprise society into the college classroom.

Dr. David E. Fry took the helm in 1982 and then Dr. Keith A. Pretty in 2006, each continuing the same ideals as Stauffer and Turner, never wavering from the core values. The University grew and matured. Academic curricula expanded; Northwood went from being an Institute to an accredited University, the DeVos Graduate School of Management was created and then expanded; the Adult Degree Program and its program centers expanded to over 20 locations in eight states; international program centers were formed in Malaysia, People’s Republic of China, Sri Lanka, and Switzerland; and significant construction like the campus Student Life Centers added value to the Northwood students’ experience. New endeavors such as Aftermarket Studies, entertainment and sports management and fashion merchandising, along with a campus partnership in Montreux, Switzerland, demonstrate an enriched experience for all our students.

With a clearly articulated mission to develop the future leaders of a global, free-enterprise society, Northwood University is expanding its presence in national and international venues. Professors are engaged in economic and policy dialogue; students are emerging as champions in regional and national academic competitions. At all campuses and in all divisions, Northwood University is energized and is actively pursuing dynamic programming and increased influence.

Northwood University educates managers and entrepreneurs – highly skilled and ethical leaders. With more than 57,000 alumni and a vibrant future ahead, The Northwood Idea is alive and well.

 

Source: Northwood University website.

Image Source: Harvard Class Album, 1932.

 

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Harvard. Economics Ph.D. alumnus, James W. Ford, 1954.

 

In this latest addition to our series “Get to Know an Economics Ph.D.”  we meet a Harvard Ph.D. from 1954, James William Ford.  His Ph.D. dissertation’s title was “International monetary relations and the British monetary system, 1920-1939”.

Ford’s academic path began as an undergraduate at Oberlin, then he went on to Harvard for his graduate work. Before getting his Ph.D., Ford received one of the very first round of Fulbright Fellowships to attend Cambridge University. He taught at Columbia, Vanderbilt, and Ohio State followed by two years working at the Board of Governors of the Federal Reserve System. His long final career stage was with the Ford Motor Company as a leading financial economist.

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James William Ford (1923-2017)
Obituary

James William Ford, a beloved father, grandfather, and great-grandfather, died at age 94 on November 23 at his home in Ann Arbor, Michigan. Mr. Ford was born February 1, 1923 in Alameda, California, the son of Eunice George Ford and Shelton C. Ford, and older brother of Eunice Ford. He is survived by his second wife, Phyllis Ford; three children, Julian Ford, Amy Milkovich, Carol Arkin; two step-children, Jessica Leix and Peter Leix; 10 grandchildren; 1 step-granddaughter; and 7 great-grandchildren. In the first three decades of his life, Mr. Ford was an outstanding student and a City of Detroit High School Debate champion, served in the Army as a meteorologist during World War II, a graduate of Oberlin College in 1947, a Master of Arts recipient in economics from Harvard University in 1949, one of the first class of Fulbright Scholars in 1951 (at Cambridge University in Great Britain), and Doctor of Philosophy recipient in economics from Harvard University in 1954. Mr. Ford taught economics at Columbia University from 1951 to 1953, at Vanderbilt University from 1953 to 1957, and Ohio State University from 1957 to 1959, before becoming a postdoctoral fellow at the University Chicago with the eminent economist Milton Friedman. Mr. Ford served as Economist to the Board of Governors at the U.S. Federal Reserve from 1959-1961. He then moved to Ford Motor Company where he worked for the rest of his career until retiring in 1988. Mr. Ford was the Assistant Controller for the Ford Motor Company Finance Staff from 1961 to 1975, Executive Vice President for Insurance and Special Finance Operations at Ford Motor Credit Company from 1975-1977, then president from 1977-1980 and Chairman,1980-1987, of Ford Motor Credit Company. At Ford Motor Company he became Vice President from 1980-1987, Executive Vice President from 1987-1988, and President of Ford Finance Services Group from 1987-1988. Under his leadership, Ford Motor Credit Company developed a program and portfolio of financial policies and investments that achieved unprecedented fiscal success for the company. He visited and met with Ford Motor Company dealership executives all over the country, developing a network of successful entrepreneurs and many close friendships that lasted throughout his retirement. After retiring at age 65, Mr. Ford was very active for the next 25 years as a Board member for several nonprofit agencies serving children and families, investment firms, and most especially with the United Methodist Retirement Community and the Towsley Center in Chelsea, Michigan, where a wing is dedicated to his mother and a garden is dedicated to his beloved first wife Anne, and with Starfish Family Services. Mr. Ford was an avid tennis player for most of his life and captained a small sailboat every weekend for many years, and followed in his mother’s tradition by traveling widely around the world. He was a devoted brother to his younger sister, Eunice, and was much loved by many other members of the Ford family and in-laws on the Farley side of his and Anne’s family, and countless close friends including members of a potluck group in Ann Arbor that convened monthly for more than four decades. According to his wishes, a gravesite service will be held at Botsford Cemetery in Ann Arbor in the Spring…

Source:  Published in Ann Arbor News on Dec. 3, 2017.

Image Source: Oberlin College Yearbook, The Hi-O-Hi, p. 32.