Category: M.I.T.

M.I.T. Reading List for Monetary Economics II. Dornbusch, 1976

Post author By Irwin Collier
Post date 2020-09-01
1 Comment on M.I.T. Reading List for Monetary Economics II. Dornbusch, 1976

Associate Professor Rudiger Dornbusch covered the second course in the graduate money field during the Fall term 1976 at M.I.T. This was a course taught by his colleague Stanley Fischer (I took that course in 1975). The syllabus was more-or-less unchanged from the one used when Fischer taught the monetary theory course. According to the department staffing report for the term, 22 students were registered for credit and 2 students audited the course.

___________________________

MONETARY ECONOMICS II
14.463
Professor R. Dornbusch
Fall 1976

*denotes required reading

There is no textbook for this course. The following books and surveys should be useful.

Robert Barro and Herschel Grossman, Money, Employment and Inflation, Macmillan, 1976.

Robert W. Clower (ed.), Monetary Theory, Penguin Books, 1969.

Milton Friedman, The Optimum Quantity of Money and Other Essays, Aldine, 1969.

Robert Mundell, Monetary Theory, Goodyear, 1971.

Robert J. Barro and Stanley Fischer, “Recent Developments in Monetary Theory,” Journal of Monetary Economics, April 1976.

I. BACKGROUND

*Friedman, Milton, “The Quantity Theory of Money—A Restatement” in Studies in the Quantity Theory of Money, Friedman, ed., University of Chicago Press, 1956, 3-24.

___________, “A Theoretical Framework for Monetary Analysis,” JPE, March/April 1970, 193-238. (See also Symposium on this article in Sept./Oct. 1972 JPE.)

*Johnson, Harry G., “The Keynesian Revolution and the Monetarist Counter-Revolution,” AER, May 1971, 1-14.

Keynes, J.M., General Theory of Employment, Interest and Money, Harcourt Brace, 1964.

*Leijonhuvud, Axel, “Keynes and the Classics: Two Lectures on Keynes’ Contribution to Economic Theory,” London, Institute of Economic Affairs, 1969. Occasional Paper 30. (This is a reasonably coherent account of his book.)

*Patinkin, Don, Money, Interest and Prices, Harper and Row, 1965, Part II.

Tobin, James, “Money, Capital and Other Stores of Value,” AER Papers and Proceedings, May 1961, 16-37.

*___________, “A General Equilibrium Approach to Monetary Theory,” JMCB, Feb. 1969, 15-29.

___________, Chapter I of Manuscript, on reserve.

___________, “Money and Income: Post Hoc, Ergo Propter Hoc?” QJE, May 1970, (and discussion with Friedman, same, 318-329).

___________, The New Economics One Decade Older, Princeton University Press, 1974.

II. DISEQUILIBRIUM ANALYSIS

*Barro, Robert J. and Herschel Grossman, “A General Equilibrium Model of Income and Employment,” AER, March 1971, 82-93.

___________, Money, Employment and Inflation, MacMillan, 1976.

Benassy, J.P., “Neo-Keynesian Disequilibrium Theory in a Monetary Economy, Unpublished, 1974.

*Clower, Robert, “The Keynesian Counterrevolution: A Theoretical Appraisal,” in The Theory of Interest Rates, F.H. Hahn and F.P.R. Brechling (ed.), MacMillan, 1965.

Iwai, K., “On Disequilibrium Economic Dynamics,” Parts I & II. Cowles Discussion Papers #385 and #386, 1974, 1975.

Patinkin, Don, Money, Interest and Prices, Chapter 13.

III. DEMAND FOR MONEY

Barro, Robert J., “Inflation, the Payments Period, and the Demand for Money,” JPE, Nov./Dec. 1970, 1228-1263.

___________, “Integral Constraints and Aggregation in an Inventory Model of Money Demand,” Journal of Finance(forthcoming).

*Baumol, W.J., “The Transactions Demand for Cash: An Inventory Theoretic Approach,” QJE 66 (Nov. 1952), 545-556. (Reprinted in Thorn, R.S., ed. Monetary Theory and Policy, Ch. 6.)

*Cagan, P., “The Monetary Dynamics of Hyperinflation,” in Friedman, M., ed., Studies in the Quantity Theory of Money.

Goldfeld, S.M., “The Demand for Money Revisited,” in Okun, A.M. and Perry, G.L., Brookings Papers on Economic Activity, 1973:3.

*Hicks, J.R., “A Suggestion for Simplifying the Theory of Money,” in AEA Readings in Monetary Theory, pp. 13-32.

*Miller, M.H. and Orr, D., “A Model of the Demand for Money by Firms,” QJE 80 (August 1966), 413-435.

*Modigliani, F., R. Rasche, and J.P. Cooper, “Central Bank Policy, The Money Supply and the Short-Term Rate of Interest,” JMCB, 2 (May 1970), 166-217.

*Tobin, J., “The Interest-Elasticity of Transactions Demand for Cash,” REStat. 38 (August 1956), 241-247.

___________, “Liquidity Preference as Behavior Toward Risk,” REStud 25 (Feb. 1958), 65-86. (Reprinted in Thorn, Ch. 7)

Whalen, E.L., “A Rationalization for the Precautionary Demand for Cash,” QJE (May 1966), 314-324.

IV. MONEY, INFLATION DYNAMICS AND GROWTH

*Brock, William A., “A Simple [Perfect Foresight] Model of Money and Growth,” on reserve.

*Cagan, Phillip, op. cit.

Fischer, Stanley, “Keynes-Wicksell and Neoclassical Models of Money and Growth,“ AER, Dec. 1972.

Friedman, Milton, “The optimum Quantity of Money,” in The Optimum Quantity of Money and Other Essays, Aldine, 1969, 1-50.

*Foley, Duncan K. and Miguel Sidrauski, “Portfolio Choice, Investment and Growth,” AER, March 1970, 44-63.

Levhari, David and Don Patinkin, “The Role of Money in a Simple Growth Model,” AER, Sept. 1968, 713-753.

Mundell, Robert A., “Growth, Stability and Inflationary Finance,” JPE, 1965, 97-109.

*___________, Monetary Theory, Goodyear, 1971.

*Sidrauski, Miguel, “Inflation and Economic Growth,” JPE, Dec. 1967, 796-810.

*___________, “Rational Choice and Patterns of Growth in a Monetary Economy,” AER, Papers and Proceedings, May 1967, 534-544.

Dornbusch, Rudiger and Frenkel, Jacob, “Inflation and Growth Alternative Approaches,” Journal of Money, Credit and Banking, Feb. 1973, 141-156.

V. RATIONAL EXPECTATIONS

Barro, Robert J., “Rational Expectations and the Role of Monetary Policy,” Unpublished, 1975.

Black, Fischer, “Uniqueness of the Price Level in Monetary Growth Models With Rational Expectations,” JET, Jan. 1974, 53-65.

*Fama, E.F., “Efficient Capital Markets: A Review of Theory and Empirical Work,” JF, 25 (May 1970), 383-417.

*Fischer, S., “Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule,” Unpublished, 1975.

*Lucas, Robert E., “Expectations and the Neutrality of Money,” JET, April 1972, 103-124.

__________, “Some International Evidence on Output-Inflation Tradeoffs,” AER June 1973, 326-334.

__________, “Econometric Policy Evaluation: A Critique,” Mimeo, on Reserve.

Muth, J.F., “Rational Expectations and the Theory of Price Movements,” Econometrica 29 (July 1961), 315-335.

Phelps, E.S. and J.B. Taylor, “Stabilizing Properties of Monetary Policy Under Rational Price Expectations,” Unpublished, 1975.

*Sargent, T.J. and N. Wallace, “’Rational’ Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule,” JPE (April 1975), 241-254.

__________, “Rational Expectations and the Theory of Economic Policy,” Federal Reserve Bank of Minneapolis, Part I and II.

VI. TEMPORARY EQUILIBRIUM, THE CONSUMPTION LOANS MODEL, AND THE BURDEN OF THE DEBT

*Barro, R.J., “Are Government Bonds Net Wealth?” JPE, Nov./Dec. 1974, 1095-1117.

Cass, D. and M. Yaari, “Individual Saving, Aggregate Capital Accumulation and Efficient Growth,” in K. Shell (ed.), Essays in the Theory of Optimal Growth, M.I.T. Press, 1967.

*Diamond, P.A., “National Debt in a neoclassical Growth Model,” AER, Dec. 1965, 1126-1135.

Feldstein, M., “Perceived Wealth in Bonds and Social Security: A Comment,” Unpublished, 1975.

Foley, D.K. and M. Sidrauski, “Monetary and Fiscal Policy in a Growing Economy, MacMillan, 1971, Ch. 11.

Grandmont, J. and G. Laroque, “Money in the Pure Consumption Loans Model,” JET, August 1973, 382-395.

__________, and Y. Younes, “On the Efficiency of a Monetary Equilibrium,” REStud., April 1973, 149-166.

Modigliani, F., “Long-Run Implications of Alternative Fiscal Policies and the Burden of the National Debt,” Economic Journal, Dec. 1961, 730-755.

Samuelson, P.A., “An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money,” JPE, 1958 (reprinted in Collected Scientific Papers, 219-234.)

VII. INDEXATION AND THE LABOR CONTRACT

*Azariadis, C., “Implicit Contracts and Underemployment Equilibria,” JPE, August 1975.

__________, “Asymmetric Wage Behavior,” Unpublished, 1975.

*Baily, M.N., “Wages and Employment Under Uncertain Demand,” REStud., Jan. 1974, 37-50.

Fischer, S., “The Demand for Index Bonds,” JPE, June 1975.

__________, “Wage-Indexation and Macro-Economic Stability,” Unpublished, 1975.

__________, “Non-Indexation in the Capital Markets,” Unpublished, 1975.

Gray, J.A., “Economic Aspects of Indexing and Contract Length,” Unpublished, 1975.

Grossman, H., “The Nature of Optimal Labor Contracts,” Unpublished, 1975.

Shavell, S., “Sharing Risks of Deferred Payment,” Unpublished, 1975.

Tobin, J., “An Essay on the Principles of Debt Management,” in Tobin’s Essays in Economics.

VIII. MICRO FOUNDATIONS OF MONEY

(This material will not be discussed in class; it is on the reading list for those who are interested)

*means most worthwhile

Brunner, Karl, and Allan Meltzer, “The Uses of Money: Money in the Theory of Exchange,” AER, Dec. 1971, 784-805.

*Clower, Robert W., Monetary Theory, Clower (ed.), Penguin, 1970, pp. 7-16.

Fischer, S., “Money and the Production Function,” on reserve.

Hahn, Frank, “On Transaction Costs, Inessential Sequence Economics and Money,” REStud., Oct. 1973, 449-462.

*__________, “On the Foundations of Monetary Theory,” in Parkin and Mobay (eds.), Essays in Modern Economics, Langman, 1973.

Heller, Walter P., “The Holding of Money Balances in General Equilibrium,” JET, Jan. 1974, 93-108.

*Johnson, Harry G., “Is There an Optimal Money Supply?” in Frontiers of Quantitative Economics, M.O. Intriligator, ed., North-Holland, 1971.

Niehans, Jurg, “Money in a Static Theory of Optimal Payment Arrangements,” JMCB, Nov. 1969, 706-726.

Ostroy, Joesph, “The Informational Efficiency of Monetary Exchange,” AER, Sept. 1973, 597-610.

Patinkin, Don, Money, Interest and Prices, Harper and Row, 1965, Part I.

*Samuelson, Paul A., “What Classical and Neo-Classical Monetary Theory Really Was,” Canadian Journal of Economics, Feb. 1968, 1-15; also in Clower, Readings, 170-190.

*__________, Foundations of Economic Analysis, Harvard University Press, 1947, 117-122.

Starr, Ross, M., “The Structure of Exchange in Barter and Monetary Economics,” QJE, May 1972, 290-302.

Starrett, David, “Inefficiency and the Demand for ‘Money’ in a Sequence Economy,” REStud., Oct. 1973, 437-448.

Source: Copy of mimeographed course reading list from the files of Irwin L. Collier. Provided by Robert Dohner (our friendship goes back to our internships at the Nixon Council of Economic Advisers in the year of Watergate).

Image Source: Rudiger Dornbusch from FAZ, April 12, 2014

Tags Dornbusch, Fischer

Exam Questions M.I.T. Suggested Reading Syllabus

M.I.T. Core Dynamic Macro Half-course. Readings and exam. Solow, 1973

Post author By Irwin Collier
Post date 2020-08-24

Reading list and exam questions for the half-term course quantitative macroeconomics taught by Franco Modigliani that preceded Solow’s dynamic macroeconomics course during the first term of 1927-73 were posted earlier.

Economics in the Rear-view Mirror thanks Juan C. A. Acosta who copied this course syllabus and final examination that are found in the Franco Modigliani Papers (Box T7) at the Duke University Economists’ Papers Project and has graciously shared them for transcription here.

____________________

14.454
MACRO THEORY IV
Fall 1973, 2^nd half

I. Growth Theory

background, if necessary: Solow, GROWTH THEORY, Ch. 1, 2

Burmeister and Dobell: MATHEMATICAL THEORIES OF ECONOMIC GROWTH, Ch. 1-4

and/or

Wan: ECONOMIC GROWTH, Ch. 1, 2, 4 (sec. 3)

Kahn: “Exercise in the Analysis of Growth,”
OXFORD ECONOMIC PAPERS, New Series, Vol. 11, 1959
pp. 143-156
(reprinted in GROWTH ECONOMICS, ed. A. K. Sen, Penguin)

Wan: Ch. 4, sec. 4

II. Optimal Growth

background, if necessary: Solow, GROWTH THEORY, Ch. 5

Burmeister and Dobell: Ch. 11

and/or

Wan: Ch. 9, 10

Koopmans: “Objectives, Constraints and Outcomes in Optimal Growth Models”
ECONOMETRICA, Vol. 35, 1967
pp. 1-15
(reprinted in Koopmans, SCIENTIFIC PAPERS, pp. 548-5609)

III. Capital Theory

Malinvaud: LECTURES ON MICROECONOMIC THEORY, Ch. 10

Hirshleifer: INVESTMENT, INTEREST AND CAPITAL, Ch. 2, 3, 4, 6

Dougherty: “On the Rate of Return and the Rate of Profit”
ECONOMIC JOURNAL, December 1972
pp. 1324-1349

Burmeister and Dobell: Ch. 8, 9

Weizsäcker: STEADY-STATE CAPITAL THEORY,
pp. 1-22, 32-47, and passim

____________________

14.454 FINAL EXAM
R. M. Solow
19 Dec 1973

ANSWER TWO QUESTIONS, total time 1½ hours

Suppose an economy with effectively unlimited supply of labor in the sense that any amount of labor is available (from an agricultural pool, say) at an institutionally determined real wage . In other respects the economy is like the standard one-sector model.
1. Analyze the growth of such an economy if saving and investment are proportional to output. What might correspond to the “full employment, full utilization” assumption?
2. What if saving and investment are proportional to profits?
3. How does a once-for-all change in $\bar{w}$ affect the growth path, and the share of wages in total output?
Sketch an analysis of an optimal-capital-accumulation problem in which the criterion function values the capital stock (per worker) as well as consumption, for prestige or power reasons, say, so that instantaneous utility is written u(c,k). In particular, is it true, as we would expect, that such a society should save more than it would if it valued consumption only?
Criticize the “neoclassical” theory of growth and capital; but do not be vague—where you have a complaint you should be prepared to suggest a better way.

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Papers of Franco Modigliani, T7.

Image Source: Robert Solow in his office, MIT Museum Website.

Tags Solow

AEA Berkeley Chicago Cornell Economist Market Economists Johns Hopkins M.I.T. Princeton Stanford Yale

M.I.T. Memo regarding potential hires to interview at AEA Dec meeting, 1965

Post author By Irwin Collier
Post date 2020-08-07

This artifact provides us a glimpse into the demand side of the market for assistant professors of economics in the United States as seen from one of the mid-1960’s peak departments. The chairperson of the M.I.T. economics department at the time, E. Cary Brown, apparently conducted a quick survey of fellow department heads and packed his results into a memo for his colleagues who in one capacity or the other would be attending the annual meeting of the American Economic Association held in New York City in the days following the Christmas holidays of December 1965. The absence of Harvard names in the memo probably only indicates that Brown presumed his colleagues were well aware of any potential candidates coming from farther up the Charles River.

From Brown’s memo, Duncan Foley (Yale) and Miguel Sidrauski (Chicago) ended up on the M.I.T. faculty as assistant professors for the 1966-67 academic year. John Williamson was a visiting assistant professor that year too.

_____________________________

Dating the Memo

The folder label in the M.I.T. archives incorrectly gives the date Dec. 28-30, 1969, where the 1969 has been added in pencil.

Two keys for dating the memo. Brown’s comment to John Williamson (York): “Wants a semester here, Jan.-June 1967″. “Solow is hearing paper at meetings” (Conlisk of Stanford) who presented in the invited doctoral dissertation session “The Analysis and Testing of the Asymptotic Behavior of Aggregate Growth Models” (affiliation given as Rice University (Ph.D., Stanford University) where Solow was listed as a discussant. AEA’s 78^th Annual Meeting was held in New York City at the end of December 1965.

_____________________________

Memo from E. Cary Brown to M.I.T. faculty going to Dec. 1965 AEA meeting

[Pencil note: “Put in beginning of 1966-7”]

Memorandum Regarding Personnel Interviews in New York

To: Department Members Attending AEA Convention
From: E. C. Brown

University of Chicago

Sidrauski, Miguel (26). International Trade, Monetary Theory, Economic Growth, Mathematical Economics

Thesis—“Studies in the Theory of Growth and Inflation” under Uzawa
References: Harberger, Johnson, Lewis

[He came here a year ago to ask about a short-term appointment before he returned to Argentina. Griliches believes him to be tops. Had him in class myself and he was first rate. Called him on phone last week and he still wants to be had.]

Thornber, Edgar H. (24). [H. = Hodson] Econometrics, Mathematical Methods, Computers

Thesis—“A Distributed Lag Model: Bayes vs. Sampling Theory Analyses” under Telser
References: Griliches, Zellner

[Supposed to be equal of Sidrauski. Heavily computer oriented. Doesn’t sound interesting for us, but we should talk to him.]

Treadway, Arthur. Mathematical Economist

Thesis on the investment function

[A younger man who, according to Svi [sic], regards himself as the equal of the above. Stronger in mathematics, and very high grades. Wasn’t on market because thesis didn’t appear as completable. Now it seems that it will be and he wants consideration.]

Evenson, Robert E. (31). Agricultural Economics and Economic Growth, Public Finance

Thesis—“Contribution of Agricultural Experiment Station Research to Agricultural Production” under Schultz
References: Gale Johnson, Berg

[He is just slightly below the others. Mature and very solid and combines agriculture and economic growth where we need strength.]

Gould, John (26).

(Ph.D. in Business School)

[Bud Fackler mentioned him as their best. Uzawa and Griliches are trying to get the Econ. Dept. to hire him. Franco knows him and is after him.]

Princeton

Klevorick, Alvin (22). Mathematical Economics, Econometrics, Economic Theory

Thesis: “Mathematical Programming and the Problem of Capital Budgeting under Uncertainty” (Quandt)
References: Baumol, Kuhn

[Apparently the best they have had for some time. Young and very brash.]

Monsma, George N. (24). Labor Economics, Economics of Medical Care, Public Finance

Thesis: Supply and Demand for Medical Personnel” (Harbison)
References: Patterson, Machlup

[Dick Lester was high on him. While not a traditional labor economist, he works that field.]

Silber, William L. (23). Monetary Economics, Public Finance, Econometrics

Thesis: “Structure of Interest Rates” (Chandler)
References: Goldfeld, Musgrave, Quandt

[One of their best four. Not sure he sounds like what we want in fields, however.]

Grabowski, Henry G. (25). Research and Development, Econometrics, Mathematical Economics

Thesis: “Determinants and Profitability of Industrial Research and Development” (Quandt)
References: Morgenstern, Baumol

[Lester says he is good all around man. His field makes him especially interesting.]

Stanford

Conlisk [John]— Economic growth and development

[Arrow has written about him, recommending him highly. His field should be interesting. Solow is hearing paper at meetings.]

Bradford [David Frantz]— Public finance

[Has been interviewed up here, but more should see him who wish to.]

Yale

Foley [Duncan Karl] (Probably not at meetings. Best Tobin’s had.]

Bryant [Ralph Clement] (Now at Federal Reserve Board. Number 2 for Tobin]

York

Williamson, John

[Wants a semester here, Jan.-June 1967. Alan Peacock at meetings.]

Johns Hopkins

[Ask Bill Oakland]

University of California, Berkeley

[Ask Aaron Gordon or Tibor Scitovsky.]

Cornell

Bridge [John L.] — Econometrics, Foreign Trade

Lindert [Peter]— International Economics

[Their two best as indicated in their letter to Department Chairman.]

Buffalo

Mathis, E.J. [Ask Mitch Horwitz if it’s worth pursuing.]

Columbia U.

[Ask Bill Vickrey]

Pittsburgh

Miller, Norman C. (26). International Economics; Money, Macro, Micro and Math Economics

Thesis: “Capital Flows and International Trade Theory” (Whitman)
References: Marina Whitman, Jacob Cohen, Peter Kenen, Graeme Dorrance

[Letter to Evsey Domar from Mark Perlman (Chm.) recommending him to us for further training.]

Source: Massachusetts Institute of Technology. Institute Archives and Special Collections. MIT Department of Economics records, Box 1, Folder “AEA Chairmen MEETING—Dec. 28-30, 1969 (sic)”.

Image Sources: Duncan Foley (left) from his home page. Miguel Sidrauski (right) from the History of Economic Thought website.

Tags BrownEC, Domar, Foley, Sidrauski, Solow, WilliamsonJ

Duke Harvard M.I.T. Nebraska Virginia War and Defense Economics

United States. College and University Courses on War Economics, 1942

Post author By Irwin Collier
Post date 2020-07-28

This post is limited to the economics courses reported in a survey conducted in the days and months after the attack on Pearl Harbor that provides an extensive list of “War Courses” offered at U.S. colleges and universities at the time. The post begins with a short description of the survey itself. Next, two tables provide the names of institutions, courses (with descriptions), and instructors together with enrollment statistics. The post ends with a short bibliography of books listed for some of the courses on war economics.

Most of the courses in the survey (and not included here) concern administrative matters such as the procedures governing military procurement. There is at least one course on the economics of war that had been organized at Harvard by Seymour Harris not included in this survey (68 schools did not respond).

_________________________

Not included in the survey

Harvard University. Economic Aspects of War, organized by Seymour Harris, 1940

Final Exam for Economic Aspects of War, 1940

_________________________

How the Study was was Made
[pp. 11-13]

In April, 1942, a study was issued entitled A Report on War Courses offered by Collegiate Schools of Business and Departments of Economics. In this study were presented the combined information sent in by 58 schools and departments listing 196 separate courses. The Department of Commerce in cooperation with the National Conference of State University Schools of Business had distributed these questionnaires to approximately 175 schools on December 11, 1941. The questionnaires called for information on war courses offered after September, 1939.

In May another questionnaire was sent out to approximately the same number of schools of business administration and departments of economics. This questionnaire asked the school to list those war courses which were not reported for inclusion in the April report. Replies were received from 120 schools, 89 of which reported that they were offering war courses not previously reported, and 31 of which reported that they were offering no war courses. Sixty-eight schools did not reply.

Since the questionnaire asked the schools to “include established courses such as Business Policy and Cost Accounting provided they have been reoriented to meet war needs”, the element of judgment enters in to qualify the results. Some schools reported that they had organized no new courses but had reorganized old ones to meet war needs. They felt, however, that the alteration was not great enough to warrant reporting them as war courses. Other schools reported courses which contained in their description very little of a war nature. Courses which it was felt were not primarily war courses were not included in the report. In addition, courses were excluded which it was felt did not fall clearly into the field of business administration and economics.

Any further information which is desired on any of the courses reported here can be secured by writing to the instructor of the particular course. His name appears along with the description of the course.

_________________________

War Courses Offered in Collegiate Schools of Business and Departments of Economics

Economics of War

SCHOOL	COURSE TITLE	WEEKS OF COURSE	HOURS PER WEEK	CREDIT HOURS	ON CAMPUS	SEC-TIONS	STU- DENTS	PREREQ-UISITES*
U. of Akron, Akron, Ohio.	Economics of War	16	2	2	No	1	15	2C
Albright Col., Reading, Pa.	Economic Problems	16	3	3	Yes	1	18	2C
U. of Ariz., School of Bus. & Pub. Admin. Tucson, Ariz.	Economics of War	18	3	3	Yes	1	17	2C
U. of Ariz., School of Bus. & Pub. Admin. Tucson, Ariz.	Geography of War Areas	18	3	3	Yes	—	—	—
Babson Inst., School of Bus. Admin., Wellesley, Mass.	War Economics	12	3	0	Yes	2	40	C
Brooklyn Col., Brooklyn, N.Y.	Econ. of Defense & War	16	3	3	Yes	2	34	2C
Brown U., Dept. of Econ., Providence, R.I.	Economics of War	30	3	6	Yes	1	45	2C
Bucknell U., Dept. of Commerce & Finance, Lewisburg, Pa.	Econ. of Modern War	6	6 ½	3	Yes	1	20	2C
Carleton Col., Dept. of Econ., Northfield, Minn.	Economics of War	18	3	3	Yes	1	—	2C
City College of N.Y., Commerce Center, New York, N.Y.	Price Control Reguls.	6	6	3	Yes	1	39	—
U. of Cincinnati, Col. of Engin. & Commerce, Cincinnati, Ohio.	Economics of War	14	3	3	Yes	2	60	—
U. of Cincinnati, Col. of Engin. & Commerce, Cincinnati, Ohio.	Probs. of War and Reconstruction	14	3	3	Yes	2	60	—
Claremont Col., Claremont, Cal.	America at War: Econ. Org.	6	10	5	Yes	—	—	4
Claremont Col., Claremont, Cal.	War and Economics	15	3	5	Yes	—	—	4
Clark U., Worcester, Mass.	Economics of War	6	5	2	Yes	1	—	2C
Clemson Col., Clemson, S.C.	Economics of War	16	3	3	Yes	1	32	2C
Dartmouth Col., Tech. School of Bus. Admin. Hanover, N.H.	Econ. Prob. of War	13	3	3	Yes	3	100	3C
U. of Detroit, Col. Of Commerce & Fin., Detroit, Mich.	Economics of War	17	3	3	Yes	1	49	2
U. of Detroit, Col. Of Commerce & Fin., Detroit, Mich.	War Finance	6	7	3	Yes	1	—	2
Duke U., Durham, N.C.	Economics of War	18	3	3	Yes	2	55	3
Fenn Col., School of Bus. Admin., Cleveland, Ohio.	Economics of Price Control	10	2	2	Yes	1	—	2C
U. of Fla., Col. of Bus. Admin. Gainesville, Fla.	Economics of Total War	3	3	3	—	—	—	—
Franklin & Marshall Col., Lancaster, Pa.	Econ. History of U.S.	15	3	3	Yes	5	125	—
Franklin & Marshall Col., Lancaster, Pa.	War Economics	15	3	3	Yes	4	110	C
U. of Ga., Athens, Ga.	Advanced Econ. Theory	8	5	5	Yes	1	8	3C
U. of Ga., Athens, Ga.	Economics of War	8	5	5	Yes	2	66	2C
U. of Ga., Col. of Bus. Admin., Athens, Ga.	Econ. of Consumption	12	5	5	Yes	2	40	3C
Hamline U., St. Paul, Minn.	Prins. of Economics	8	3	3	Yes	2	62	1
Harvard Grad. School of Bus. Admin., Boston, Mass.	Banking Probs. and Federal Fin.	16	3	3	Yes	—	—	C
James Millikin U., Decatur, Ill.	Econ. of War and Reconstruction	16	3	3	No	1	24	2C
Loyola U., Dept. of Econ., New Orleans, La.	Economics of War	16	3	3	Yes	1	25	2
Macalester Col., St. Paul, Minn.	Econ Probs. of a War Economy	18	3	3	Yes	—	—	2C
U. of Md., Col. of Commerce, College Park, Md.	Econ. Institutions & War	16	3	3	Yes	—	—	2
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Economics of War	15	2	6	Yes	1	35	—
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Postwar Econ. Probs.	15	2	6	Yes	—	—	—
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Postwar Problems	15	3	9	Yes	—	—	3C
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Finance	11	3	3	Yes	1	11	3C
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Our Economic Life	11	3	3	Yes	1	125	—
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Public Finance	22	3	6	Yes	1	15	4C
Mont. State U., School of Bus. Admin., Missoula, Mont.	War Economics	10	4	4	Yes	1	—	2C
N. Dak. Agri. Col., Dept. of Econ., Fargo, N.D.	War Economics	16	3	3	Yes	1	25	2C
U. of N. Dak., School of Com., Grand Forks, N.D.	Economics of War	8	5	3	Yes	1	21	2C
Okla, A&M, Col., School of Com., Stillwater, Okla.	War and Post-War Econ. Problems	18	3	3	Yes	—	—	3C
U. of Pittsburgh, Pittsburgh, Pa.	War Economics	18	2	2	Yes	2	65	2C
Pomona Col., Claremont, Cal.	Econ. of War & Defense	6	5	3	Yes	1	19	2C
St. John’s U., Collegeville, Minn.	Economics of War	18	3	3	Yes	1	20	2C
U. of S. Dak., School of Bus. Admin., Vermillion, S.D.	Economics of War	18	3	3	Yes	1	25	2C
U. of S. Dak., School of Bus. Admin., Vermillion, S.D.	Money & Banking & War Finance	18	3	3	Yes	—	—	2C
Stanford U., Dept. of Econ., Stanford U., Cal.	American Economy in Wartime	10	5	5	Yes	2	89	2C
Stanford U., Dept. of Econ., Stanford U., Cal.	War Effort	10	4	3	Yes	—	—	—
Stout Inst., Menomonie, Wisc.	War Economics	6	5	5	Yes	1	—	2C
Susquehanna U., Selinsgrove, Pa.	Amer. Probs. in World Relationships	32	2	2	Yes	1	27	1
Temple U., Philadelphia, Pa.	Economic Planning	15	3	3	Yes	1	25	2C
Temple U., Philadelphia, Pa.	Internat. Trade & Commerce	15	3	3	Yes	1	30	2
Transylvania Col., Econ. & Sociology Dept., Lexington, Ky.	Economics of War	18	3	3	Yes	1	18	3C
Villanova Col., Villanova, Pa.	Probs. of Peace After the War	6	5	2	Yes	—	—	—
U. of Va., Charlottesville, Va.	Economics of War	36	3	6	Yes	1	—	2C
U. of Va., Charlottesville, Va.	Prins. of Economics	12	3	2	Yes	2	180	1
State Col. of Wash., School of Bus. Admin., Pullman, Wash.	Econ. & Bus. Tendencies	18	3	3	Yes	1	—	3C
U. of Wash., Col. of Econ. & Bus., Seattle, Wash.	Econ. of Natl. Defense	12	5	5	Yes	1	94	2
U. of Wash., Col. of Econ. & Bus., Seattle, Wash.	World at War	12	5	5	Yes	1	—	—
Western Reserve Univ., Cleveland, Ohio.	Econ. of Natl. Defense	16	4	3	Yes	1	—	2C
Western Reserve Univ., Cleveland, Ohio.	Econ. of War and Reconstruction	15	1 ¾	2	Yes	1	27	2 or E

*Prerequisites:

Numerals—years of college which must have been completed
C—certain courses in the same or allied subjects
E—experience in the field

_________________________

Instructors and course descriptions

SCHOOL	COURSE TITLE	INSTRUCTOR AND COURSE DESCRIPTION
U. of Akron, Akron, Ohio.	Economics of War	Jay L. O’Hara. Economic causes of war; transition from peace to war economy, fiscal and monetary problems of war economy; price control, rationing and priorities.
Albright Col., Reading, Pa.	Economic Problems	John C. Evans. Text supplemented by lectures, readings in economic theory for purposes of orienting the student, and current reading in the better newspapers and periodicals for correlation of current opinions.
U. of Ariz., School of Bus. & Pub. Admin. Tucson, Ariz.	Economics of War	E. G. Wood. An analysis of those economic factors which determine modern war; man power and materials, methods for their mobilization.
U. of Ariz., School of Bus. & Pub. Admin. Tucson, Ariz.	Geography of War Areas	G. Herrech. A course dealing with climatic, topographical and economic factors in war areas. Population characteristics and pertinent matters of history and government will be included, as well as a discussion of the military characteristics of the geographic background. Text material will be newspapers and magazines, and reference work in the library.
Babson Inst., School of Bus. Admin., Wellesley, Mass.	War Economics	James M. Matthews. Introductory analysis of economic causes of war, the economics of the war process, the post-war economic adjustment, war production, labor, wages, finance, prices, consumer control, railroads, electric power, housing, agriculture.
Brooklyn Col., Brooklyn, N.Y.	Econ. of Defense & War	Curwen Stoddart – The economic problems of defense in modern times; the expenditures by countries for armament and defense purposes since 1914 and the economic policies pursued in financing these expenditures. The functioning of the economy under war time controls, including the regulation of prices, production, consumption and finance, the repercussions of war upon neutral countries and the consequences of peace; with special attention to the immediate problems resulting from demobilization of war-time resources.
Brown U., Dept. of Econ., Providence, R.I.	Economics of War	Antonin Basch. Economic mobilization for war. Government controls over production, consumption, foreign trade, prices and wages through monetary policy, fiscal policy, price control, priorities, rationing and foreign exchange control. Economic warfare. Lessons of the first World War. Problems of post-war reconstruction.
Bucknell U., Dept. of Commerce & Finance, Lewisburg, Pa.	Econ. of Modern War	Rudolph Peterson. Problems created by the war in the field of production, distribution, finance, and prices and methods of meeting them.
Carleton Col., Dept. of Econ., Northfield, Minn.	Economics of War	D.A Brown [no course description]
U. of Cincinnati, Col. of Engin. & Commerce, Cincinnati, Ohio.	Economics of War	H.B. Whaling. Inflation and price controls. Fiscal and tax problems, function of the banking system in the war economy, rationing, devices for saving, conversion of peacetime to wartime economy, impact of war economic policies on post war economy.
U. of Cincinnati, Col. of Engin. & Commerce, Cincinnati, Ohio.	Probs. of War and Reconstruction	R.R. McGrane. How the war came to Europe. Problems of financing the war, mobilization of industrial resources, mobilization of public opinion. Problems of peace; what kind of peace does the U.S. want, what will be the position of the U.S. in the new world order?
City Col. of N.Y., Commerce Center, New York, N.Y.	Price Control Regulations	Henry Bund, Joseph Friedlander, Percy J. Greenberg. This laboratory and clinic course to be given by prominent authorities will provide up-to-the minute information and analysis of rulings and interpretations of orders of the Office of Price Administration. The lecturers will concern themselves with the purpose and provisions of the various regulations; individual groups of manufacturers, wholesalers and retailers will receive instruction in the computation of price ceilings for various commodities and how to obtain relief from present regulations which are oppressive; a series of laboratory exercises will be required.
Claremont Col., Claremont, Cal.	America at War: Econ. Org.	Arthur G. Coons [no course description]
Claremont Col., Claremont, Cal.	War and Economics	Walter E. Sulzbach. Emphasis on international aspects of war and economic organization.
Clark U., Worcester, Mass.	Economics of War	S. J. Brandenburg. A descriptive study of public economic policy in relation to war: what economic mobilization for modern war means in terms of labor, resources, civilian and military economic preparation, finance, and private and government enterprise. A study of economic problems to be faced in post war reconstruction will form a final unit of the course.
Clemson Col., Clemson, S.C.	Economics of War	James E. Ward. We deal with the problems of financing a war, production problems, maladjustments caused by war, post-war aspects, etc.
Dartmouth Col., Tuck School of Bus. Admin. Hanover, N.H.	Econ. Prob. of War	George Walter Woodworth. The chief aim of this course is to develop an understanding of how the economic resources of a nation can be most effectively marshalled for total war. First requirements are seen, then the problems of mobilization and conversion of resources. Final section is devoted to post-war problems.
U. of Detroit, Col. Of Commerce & Fin., Detroit, Mich.	Economics of War	Bernard F. Landuyt. An analytical survey of the economic aspects of the preparation for and conduct of war, with particular reference to the participation of the United States in World War II. Attention given to both the armed conflict and the civilian scene.
U. of Detroit, Col. Of Commerce & Fin., Detroit, Mich.	War Finance	Bernard F. Landuyt. A survey of the major aspects of the problem of war finance, with especial reference to the current American problem. Emphasis will be placed on the nature and significance of the problem, the principles basic to its solution, and the effectuation of these principles.
Duke U., Durham, N.C.	Economics of War	Earl J. Hamilton and H. E. von Beckerath [no course description]
Fenn Col., School of Bus. Admin., Cleveland, Ohio.	Economics of Price Control	A. O. Berger. A study of price control in normal times by (a) competition and (b) regulation under monopoly conditions, such as utilities. Price control under conditions of war: the reasons for it, the determination of ceilings, the economic implications.
U. of Fla., Col. of Bus. Admin. Gainesville, Fla.	Economics of Total War	Walter J. Matherly [no course description]
Franklin & Marshall Col., Lancaster, Pa.	Econ. History of U.S.	Harold Fischer and Noel P. Laird. A study of the factors in the economic development of the United States, with special attention to these factors as they influenced America’s rise to the rank of a world power. A history of the evolution of the economic life of the American people. Emphasis on problems involved in our adjustments to a war economy.
Franklin & Marshall Col., Lancaster, Pa.	War Economics	Noel P. Laird. A careful analysis of such economic problems as agriculture, consumers’ needs, price, banking, public finance, labor, transportation, and unemployment. Special attention will be given to war economy with emphasis on priorities, rationing, and government control over production, distribution, consumption, finance and other economic activities. A survey of the economic problems created by the war.
U. of Ga., Athens, Ga.	Advanced Econ. Theory	E. C. Griffith. The course deals with monopolistic competition and the problems of government regulation of prices; special emphasis is given to specific industries such as the iron and steel industry. Special attention will be given in 1942 to government control of inflation, rationing, and antitrust policy in a period of war.
U. of Ga., Athens, Ga.	Economics of War	Robert T. Segrest. Economic problems and policies of nations in wartime. Post-war problems with special emphasis on the United States.
U. of Ga., Col. of Bus. Admin., Athens, Ga.	Econ. of Consumption	John W. Jenkins. National economy from the interests of the consumer, before the war, now and in the post-war world.
Hamline U., St. Paul, Minn.	Prins. of Economics	C. B. Kuhlmann. War economics is given as the last 8 weeks of the course in principles of economics.
Harvard Grad. School of Bus. Admin., Boston, Mass.	Banking Problems and Federal Finance	Ebersole and D.T. Smith. Financing of the Federal Treasury during the present war is the over-shadowing concern of business, finance, and banking. Current activities of the Treasury are studied in relation to fiscal policy, and bank operations. Indispensable background is covered in two parts: bank portfolios and bank relations, with emphasis upon government relations arising out of government lending corporations, financing Federal deficits by bond issues sold to banks or to the public, and central bank and money management policies of the Treasury and Federal Reserve system.
James Millikin U., Decatur, Ill.	Econ. of War and Reconstruction	M. E. Robinson. An analysis of the fundamental framework of the war economy. Problems of finance, population, prices, civilian production, and procurement as affected by war. Study of our efforts to convert and produce for war in contrast to those of other nations. Brief study of the economic structure and problems of a post-war economy. Much of the course will be devoted to a study of sources, propaganda, and war annals.
Loyola U., Dept. of Econ., New Orleans, La.	Economics of War	John Connor. Economic factors in war: strategic materials; man power; production and consumption controls; price regulations; financing; post-war problems, etc.
Macalester Col., St. Paul, Minn.	Econ Probs. of a War Economy	Forrest A. Young. Modern warfare and the economic system; economic warfare; critical and strategic raw materials; maximizing production; foreign trade and shipping; labor and wage policies; housing difficulties; priorities, allocations, rationing and demand controls; direct and indirect price control and bases of price fixing; fiscal policy and war financing; problems of postwar readjustment.
U. of Md., Col. of Commerce, College Park, Md.	Econ. Institutions & War	G. A. Costanzo. An analysis of the Economic causes and problems of war. Industrial mobilization; theory and techniques of price control; banking and credit control; war finance; international trade and foreign exchange controls; economic sanctions and autarchy; and the problems of readjustment in a post-war economy.
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Economics of War	Ralph E. Freeman. A study of the economic changes resulting from the adjustment of industry to the demands of War, and the impact of these changes on business stability, standards of living and methods of social control.
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Postwar Econ. Probs.	Richard M. Bissell. A study of the economic difficulties that are likely to arise after the war, and of policies that may be adopted to cope with them.
Mass. Inst. of Technology, Dept. of Econ. & Soc. Sci., Cambridge, Mass.	Postwar Problems	Richard M. Bissell. A study of the economic problems involved in maintaining national income and employment under the conditions that are likely to prevail after the war.
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Finance	J. Warren Stehman. Reconstruction Finance Corporation, Commodity Credit Corporation, Federal Housing Administration Title VI, governmental financial policies to control prices, war finance and its effects upon business policy and upon investments. Probably fifty percent of the course dealt with financial material related directly to the war effort and fifty percent not so related.
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Our Economic Life	Helen G. Canoyer. Although the title of the course was not changed, due to an action of the advisory committee of General College, the committee did agree to a change in the emphasis of the course to war economics.
U. of Minn., School of Bus. Admin., Minneapolis, Minn.	Public Finance	Roy G. Blakey. Each meeting was a discussion led by one of the members of the seminar. All were assigned certain basic readings and each was required to write a term paper or thesis on a phase of the subject selected by him in consultation with the instructor.
Mont. State U., School of Bus. Admin., Missoula, Mont.	War Economics	Roy J. W. Ely. The course is a study of the various factors that appear to lead to war; pre-war preparations; an analysis of war economy; and post-war adjustments.
N. Dak. Agri. Col., Dept. of Econ., Fargo, N.D.	War Economics	Paul E. Zerby. Causes of war; economic means of warfare; economic problems and adjustments of post-war period; money and banking, public finance, labor, international economic policies, government and business.
U. of N. Dak., School of Com., Grand Forks, N.D.	Economics of War	S. Hagen. The course covers the steps by which a peace economy is transferred into a war economy. The controls instituted by the government to direct economic activity during the war period are studied and compared with peace time controls. Special attention is given to such topics as priorities, price-ceilings, war finance, labor management, lend-lease, and post-war problems.
Okla, A&M, Col., School of Com., Stillwater, Okla.	War and Post-War Econ. Problems	R. H. Baugh. An analysis of the impact of war on economic arrangements and processes; deals with such problems as the conversion of industry to war production, war-time labor issues, inflation, financing the war, rationing, conversion of war production to peace-time production, post-war employment, and international trade from the war.
U. of Pittsburgh, Pittsburgh, Pa.	War Economics	M. K. McKay. Emphasis is given to the problems emerging in the transition from peace to war. Special consideration is directed to war production, the role of the consumer and the various regulatory measures introduced by the government. Finally, post-war problems were viewed.
Pomona Col., Claremont, Cal.	Econ. of War & Defense	Kenneth Duncan. The economic problems and policies of a nation at war. Attention, is given to the economic forces contributing to war and to the strategy of international markets, materials, and shipping. The shift to a war economy and the war-time control over production, labor, prices, and consumer demand. War finance and inflation. Problems of demobilization and post-war economic planning.
St. John’s U., Collegeville, Minn.	Economics of War	Linus Schieffer. This course is designed to examine the repercussions upon the economy of the nation of a total war effort such as modern war entails. It investigates the problem of conversion of plant and resources, the dangers of inflation, the influence of strategic materials. It likewise spends some time discussing the postwar consequences of such a wholesale conversion of the national economy.
U. of S. Dak., School of Bus. Admin., Vermillion, S.D.	Economics of War	Claude J. Whitlow. Economic causes of war; nature of total war; man-power regulation and total war; war effort in real terms; price system under impact of war; labor problems in war time; war-time control of production and consumption; public finance and war; international relations during and after a period of war; post-war economic problems.
U. of S. Dak., School of Bus. Admin., Vermillion, S.D.	Money & Banking & War Finance	E. S. Sparks [no course description]
Stanford U., Dept. of Econ., Stanford U., Cal.	American Economy in Wartime	B. F. Haley, K. Brandt, W. S. Hopkins. War economics of raw materials, labor resources and policy in the war economy; transportation in World Wars I and II; business organization and policy; controls in the war economy, international aspects of the war effort; consumption and living standards in the war economy.
Stanford U., Dept. of Econ., Stanford U., Cal	War Effort	Staff. Lectures in all phases of the national war effort.
Stout Inst., Menomonie, Wisc.	War Economics	A. Stephen Stephan. The change from peace-time to war-time economy and the problems involved. The war and its effect on industry and consumers. Problems of war production, financing the war, price control, economic regulations and civilian morale.
Susquehanna U., Selinsgrove, Pa.	Amer. Probs. in World Relationships	W. A. Russ, H. A. Heath. A survey of the problems confronting the United States in her present day relationships with Europe, the Far East, and Latin America. These problems will be discussed, from the standpoint of relationships in economics, science, history and government. The second semester surveyed the economic relationships of war.
Temple U., Philadelphia, Pa.	Economic Planning	Russell H. Mack. Examination of the chief problems of production, pricing, and distribution arising under capitalism and planned economy. Special emphasis on the problems and techniques of war-time price control and rationing.
Temple U., Philadelphia, Pa.	Internat. Trade & Commerce	Grover A. J. Noetzel. The fundamental principles of international commerce. Special emphasis throughout upon the disorganizing effects of the present war upon world commerce. Proposed plans of reconstruction of post-war trade.
Transylvania Col., Econ. & Sociology Dept., Lexington, Ky.	Economics of War	W. Scott Hall. Background of nature and causes of war, economic factors in the causation, preparation for, and waging of war, economic effects of war. Emphasis on term paper.
Villanova Col., Villanova, Pa.	Probs. of Peace After the War	Edward J. McCarthy. An historical survey of the various efforts to organize states for economic and political purposes. Religious, social, economic and political problems facing nations at war are considered together with the several plans for post-war organization now being offered.
U. of Va., Charlottesville, Va.	Economics of War	David McC. Wright. Production for war, labor supply, price control, war finance, changes in the structure of the economy, post-war reconstruction, etc.
U. of Va., Charlottesville, Va.	Prins. of Economics	Tipton R. Snavely, D. Clark Hyde [no course description]
State Col. of Wash., School of Bus. Admin., Pullman, Wash.	Econ. & Bus. Tendencies	[No instructor named] Basic tendencies, in economic and business ideas and institutions. The effect of the war on economic change and the environment of business enterprise. The objectives and policies of government. Problems of post-war institutional adjustments.
U. of Wash., Col. of Econ. & Bus., Seattle, Wash.	Econ. of Natl. Defense	Harold G. Moulton and Howard H. Preston. Analysis of the problems arising from our national defense program, including organization of production, procurement of materials, financing industrial expansion, monetary issues, price control methods, labor relations, international exchange, fiscal policy of the government.
U. of Wash., Col. of Econ. & Bus., Seattle, Wash.	World at War	Staff. Factual information on the background of the present war, the ideological conflict; the fundamentals of military and naval strategy, economics and war, and the essentials of planning for peace.
Western Reserve Univ., Cleveland, Ohio.	Econ. of Natl. Defense	Russell Weisman. The problems of industrial mobilization. Priorities, allocations, and price control. Methods of financing – taxation, public borrowing, fiat money and credit. Economic policies of the leading nations in World War I and II.
Western Reserve Univ., Cleveland, Ohio.	Econ. of War and Reconstruction	Warren A. Roberts. An analysis of the steps involved in the conversion to war effort, and the effects upon business. An examination of the economic program of Germany and England and a comparison of policies of labor representation, of personnel conversion from normal occupations, of stages of development of war finance, and of uses of compulsory loans. A brief consideration of post-war problems.

_________________________

Bibliography
Texts used in War Courses Offered by Collegiate Schools of Business and Departments of Economics

ECONOMICS OF WAR

Atkins, W. E. (Editor). Economic Behavior. Houghton Mifflin Co., Boston, 1931, 1079 p., $8.50.

Backman, Jules. Wartime Price Control and the Retail Trade. National Retail Dry Goods Association, New York, 1910, 48 p., $.10.

Baruch, Bernard M. American Industry in the War. Prentice-Hall, Inc. New York, 1941498 p., $3.75.

Boulding, Kenneth Ewart. Economic Analysis. Harper and Bros., New York, 1941, 809 p., $4.25.

Brown University Economists, A. C. Neal (Editor). Introduction to War Economics. Richard D. Irwin, Inc., Chicago, 1942, $1.25.

Burnham, James. Managerial Revolution. John Day Company, Inc., New York, 1941, 285 p., $2.50.

Chamberlin, Edward. Theory of Monopolistic Competition. Harvard University Press, Cambridge, 1938, 241 p., $2.50.

Condliffe, John Bell. The Reconstruction of World Trade; A Survey of Industrial Economic Relations. W. W. Norton, Inc., New York, 1940, 427 p., $3.75.

Fairchild, F. R.; Furniss, E. S. and Buck, N. S. Economics. Macmillan Co., New York, 1940, 828 p., $3.00.

Faulkner, Harold Underwood. Economic History of the United States. Macmillan Co., New York, 1937, 319 p., $.80.

Fraser, Cecil E. and Teele, Stanley F. Industry Goes to War; Readings on American Industrial Rearmament. McGraw-Hill Book Company, New York, 1941, 123 p., $1.50.

Hardy, C. O. Wartime Control of Prices. Brookings Institution, Washington, D. C., 1940, 216 p., $1.00.

Harris, Seymour E. Economics of American Defense. W. W. Norton and Company, Inc., New York, 1941, 350 p., $3.50.

Lorwin, Louis L. Economic Consequences of Second World War. Random House, New York, 1941, 510 p., $3.00.

Meade, J. E.; and Hitch, C. J. Introduction to Economic Analysis and Policy. Oxford University Press, New York, 1938, 428 p., $2.50. Mendershausen, Horst. Economics of War. Prentice-Hall, Inc., New York, 1940, 314 p., $2.75.

Nelson, Saul and Keim, Walter G. Price Behavior and Business Policy (T.N.E.C. Monograph No. 1) U. S. Government Printing Office, Washington, D. C., 1940, 419 p., $.45.

Pigou, A. C. The Political Economy of War. MacMillan and Company, London, 1921, 251 p., $3.25.

Robbins, Lionel Charles. Economic Causes of War. Macmillan Co., New York, 1939, 124 p., $1.35.

Robinson, Joan. The Economics of Imperfect Competition. Macmillan and Co., London, 1934, 352 p., $4.50.

Spiegel, Henry William. Economics of Total War. D. Appleton-Century Co., New York, 1942, 410 p., $3.00.

Stein, Emanuel and Backman, Jules. War Economics. Farrar and Rinehart, Inc., New York, 1942, 501 p., $3.00.

Steiner, George A. and Associates. Economic Problems of War. John Wiley and Sons, Inc., New York, 1942, 676 p., $3.50.

Steiner, W. H. Economics of War. Farrar and Rinehart, Inc., New York, 1942, 250 p., $3.00.

Vaile, Roland Snow; and Canoyer, Helen G. Income and Consumption. H. Holt and Co., New York, 1938, 394 p., $2.25.

Waller, Willard Walter (Editor). War in the Twentieth Century. Random House, Inc., New York, 1940, 572 p., $3.00.

Zimmermann, Erich W. World Resources and Industries; A Functional Appraisal of the Availability of Agricultural and Industrial Resources. Harper and Bros., New York, 1934, 842 p., $4.00.

Source: U.S. Department of Commerce, Bureau of Foreign and Domestic Commerce. Supplementary Report on War Courses offered by Collegiate Schools of Business and Departments of Economics. Washington, D.C.: August 1942. Pages 11-13, 20-25, 45-89, 94-96.

Image Source: U.S. National Archives and Records Administration. “Buy War Bonds” (Uncle Sam). Wikimedia.

Tags Bissell, FreemanRE, Haley, Hamilton, Harris, Moulton

Exam Questions M.I.T.

M.I.T. General Examinations in International Economics. Feb/May 1966

Post author By Irwin Collier
Post date 2020-07-21

The following general exams for the field of international economics in 1966 at M.I.T. cover mainly topics related to international payments and finance as opposed to pure trade theory and commercial policy.

The general exams in international economics from 1959 have been posted earlier.

_________________________

General Examination in International Economics
February 9, 1966

Make the case for or against economic integration, as you define it, in Europe, in a particular corner of the world, or more widely.
Working Party 3 of the Organization for Economic Cooperation and Development has been assigned the topic of balance-of-payments adjustment policy. Write a sketch of the line it should take, in your estimation, regarding speed of adjustment, approved mechanisms, responsibilities of surplus countries, etc.
In the wide ranging controversy about the adequacy of international monetary reserves, where do you inscribe yourself, and why?
Discuss the theory of international trade in terms of the empirical support which various theories have been able to muster. Does one theory survive this testing better than others?
Explain why, if it be true, that foreign trade was an effective engine of economic growth in the 19^th century, but is not in the 20^th.

_________________________

International Economics General Exam
May 1966

Write three essays, of one hour each, on Topic 1, and one each out of Groups 2 and 3 (but excluding the combination of #3 (United States) and #5).

Group 1

The Relevance of the Theory of Comparative Advantage to Problems of Development in Less Developed Countries Today

Group 2

The Role of Technological Change in Balance-of-Payments Disequilibrium
Specific Policy Recommendations (with appropriate analysis) for the Balance-of-Payments Problem of the United Kingdom, the United States, or a developing country such as India

Group 3

The Costs and Benefits of Well-Functioning International Capital Markets
International Monetary Arrangements Today

Source: Institute Archives and Special Collections, MIT Libraries. Charles Kindleberger Papers, Box 22, Folder “Examinations International Economics 1959-75”.

Image Source: Boston Public Library, Tichnor Brothers Postcard Collection. Massachusetts Institute of Technology, Cambridge, Mass. Tichnor Bros. Inc., Boston, Mass., 1930.

Tags Kindleberger

Funny Business M.I.T.

MIT. Faculty Christmas Party Skit. Seven Stages of a Student, 1964

Post author By Irwin Collier
Post date 2020-07-13

The following faculty skit from the M.I.T. economics department apparently had multiple authors. The last act was penned by Robert Solow–it was the only part of the script that was written in long-hand and only Act VI of this skit is found in Robert Solow’s papers in the Duke archives). Unfortunately Act V “The Thesis Defense” was not included in the Graduate Economics Association (1961-67) folder of the Economics Department Records at the M.I.T. Archives.

Attempts at racial, ethnic and gendered humor need no further comment than to note their respective shelf-lives expired two generations ago.

____________________________

GEA Christmas party 1964

Appetite of a Man; Income of a Boy
(The Seven Stages of a Student)
a play in six acts

Cast

Student—played by [blank]
Registration Officer—played by [blank]
Other students, professors, deans, etc.

Act I—The Admission Interview
Act II—Registration
Act III—Talk to the First-Year Class
Act IV—The General Examination
Act V—The Thesis Defense
Act VI—Employment: Going out into The World

TO THE CAST: IF YOU DON’T LIKE A LINE, IMPROVE ON IT.

Act I: The Admission Interview—Student and Admissions Committee

Student Applicant: Sir, I believe you have an economics department here at MIT. Can you tell me why?

Prof. 1: Why does a dog have fleas? To keep things stirred up. But how did you hear about it?

Student: Oh, I follow the basketball scores very closely. If this is the Admissions Committee, I’d like to apply.

Prof. 2: How did you do in college?

Student: I averaged 27 points a game.

Prof. 3: No, we want to know how you did in your college work. Tell us something about your grades, about your preparation, especially in economics and mathematics.

Student: We’ll get to that jazz in due course. But let me remind you, I am interviewing you, not you me. You tell me about fellowships, about student loans, and about parking stickers, how are the students fixed for the things that count.

Prof. 2: Well, you can get a Woodrow Wilson.

Student: If I was going to deal with Woodrow Wilson, I’d have gone to Princeton where they have the school and $35 million, to say nothing of $5.3 million on the side in history.

Prof. 1: There’s the National Science Foundation.

Student: Whose got the balance-of-payments disequilibrium. I am talking of how much money you are going to give me, not how much money I am going to bring to you. Now get this straight: I have expenses. These Triumphs cost money to maintain, and my girl likes steak. I also want refinance my stock market operations from my broker’s 6% to what I understand are your 2% loans for students. You give me tuition plus $5,000, plus another $5,000 loan, plus a ticket to park my car inside the Grover C. Hermann Building, or I’m on my way to Yale on a NASA.

Chorus: Nasa’s in the cole, cole groun. [Song by Stephen Foster “Masa’s in the Cold, Cold Ground”]

Act II—Registration

Reg. Off.—This stuff is pretty cut and dried: 14.121 Bishop, if you’re strong enough to turn the crank and carry the script; 14.451, mathematics, statistics, and a course like history, labor, trade, money.

Student: Whoa, back. Not so fast. First, let’s worry about the languages. There’s Spanish.

Reg. Off. We don’t let students take Spanish unless they are interested in development in Latin America, and have a need to read the limited literature.

Student: I guess I prefer Portugese.

Reg. Off. Development in Brazil.

Student: The Bossa Nova. But after the language, I think I’ll start on the minor: some of the 15 courses: Social Distance and Proximity during and After the Office Party, that sounds interesting; and maybe Design Packaging, how to get a nickel’s worth of stuff into a buck’s package; and Engineering Social Change for Chemical Engineers, or what to do after the Stink Bomb drops by mistake.

Reg. Off. And 14.121

Student: and some courses in the soft option: what is it this year, trade, labor, development? What about that course I heard about in which the students all graded each other on how they related to one another—a children’s party with an A for each kid.

Reg. Off. And 14.121.

Student: And a course at Harvard with real razz-matazz: Lady Jackson [Barbara Mary Ward, Baroness Jackson of Lodsworth, a development economist], and Man Galbraith, and Senor Chenery, and Don [here the honorific title for a nobleman] Hirschman.

Reg. Off. Look pal. Everybody takes 14.121.

Student: You can’t mean that we do too, those of us here on athletic scholarships.

Act III—Reg. Off. To the First-Year Class.

Student 1 whispering to Student 2: They say it’s a terrible experience. Students faint and dragged out. Chills come over them. There’s a lot of talk of Cs and Ds, and fellowships being taken away, and students walking the plank.

Student 2, whispering to Student 1: Naw, it’s no worse than a bad cold, and you’re not a man until you’ve had it.

Reg. Off. “Look to the right of you, look to the left of you. Of the three of you, only one will be here next term.” What famous book on economics started that way and the edition had to be suppressed. You students really have it made. Appetite of a man; income of a Boy. How much better you are off than my older colleagues, with their income of a man, and appetites of a boy.

Student: What about Grades?

Reg. Off. Grades? Grades? Who pays any attention to grades? Grades are trivial; the second order of smalls; a mere epsilon, nothing. Of course you need one A to get tuition money for the second year, and a second A for every $100 of coffee-and-cakes money. But grades? Who needs ‘em? They’re for undergraduates, for grade hounds, for Phi Beta Kappa or College-Bowl kids. Concentrate on higher things like saying Stolper-Samuelson and not (repeat not) Samuelson-Stolper.

Act IV: The General Examination

Prof 1: Good morning, Mr. Mittlablook.

Prof 2: Good morning, Mr. Pswoom.

Prof 3: Good morning, Mr. Pixyquicksel

Student (aside): Isn’t it lovely, they all know my name after two years.

Prof 1: Let’s get down to business.

Student: Must we?

Prof 2: What would you like to be examined in first? I see we have economic theory, economic history, and textbook writing and consulting fees.

Student: I am afraid I am not responsible for any of those.

Prof 3: We would all like to say the same.

Student: I was told when I came that I could be examined in comparative economic systems, the difference between capitalist and socialist economies, and free enterprise sink or swim.

Prof 1: Those fields were discontinued this morning.

Prof 2: Yes, I am afraid you’ll have to take the exam in economic theory and history.

Student: I think that is dreadfully unfair.

Prof 3: Well let me start you off by asking you a question in economic history. Consider the period which used to be known as the industrial revolution. This was accompanied, as you know by a large population explosion. Would you discuss the relative roles of (a) men and (b) women, in this development?

Student: Well, I suppose you could say that they each contributed something but the truth lies somewhere in between.

Prof 1: Wrong; you are supposed to say that the roles are neither reflexive, symmetric, nor transitive.

(STAGE DIRECTION: The last time we tried that line we stepped on it. It should be read with greater expression.)

Prof 2: That question was meant to combine economic history and economic theory. Let me ask you one about the history of economic theory. Name a business cycle theorist who was also a Russian cowboy.

Student: Evsey Domar.

Prof 3: Wrong again; Tugan Baranowsky. (general groans)

Prof 1: Now we come to your third field which is, I understand, professor imitating.

Student: Yes, I have learned to make noises like a professor now and then.

Prof 2: That will be no doubt fascinating at the Christmas Party.

Prof 3: Imitate a professor.

Student: How can I imitate a professor when I am a professor imitating a student?

Prof 1: Imitate a professor imitating a student imitating a professor.

Student: I am not responsible for infinite sequences.

Prof 2: Could you leave the room while we discuss you please. You’ll hear from us in about three years Thursday. (student leaves)

Prof 3: Well, what shall we do? He is a bright boy but he didn’t do too well.

Prof 1: On the other hand, I thought he was a stupid boy but did very well.

Prof 2: I see that as usual we are in complete agreement.

Prof 3: There is only one thing we can do. Give him an excellent plus and tell him not to write his thesis.

END OF SCENE.

Act V. The Thesis Defense
[missing]

Act VI. Employment

[Handwritten mimeo, author: Robert Solow]

Student sitting grandly in chair, feet on table, cigar? Del Tapley shows in two interviewers, I₁ and I₂.

D.T.: Mr. Auster, sir, these servile wretches represent Princeton and the University of Minnesota. They have an audience, I mean appointment, with you.

Come in chaps. Sorry to have to see you two at the same time like this, but my schedule is very crowded. I have to squeeze in the rest of the Big Ten this morning; and this afternoon I’m seeing Yale, Chicago, and a representative of the Free Speech Movement at Berkeley.

I₁: You mean…

A: Yes. Radner almost made it with that beard. But somehow he was just a little too much Commander Whitehead [president of Schweppes U.S.A. and featured in the Schweppes advertisements] and not enough Fidel. Anyhow, he’s been dropped. The FSM [Free Speech Movement] has eliminated the middleman. Mario [Savio, a leader of the Free Speech Movement] may come himself. We’re sending a delegation to meet him, at the B&A [Boston and Albany Railroad] yards. Must remind Marcelle and Cynthia not to comb their hair. But what can I do for you, or vice versa?

I₂: Well, we do feel Minnesota has a lot to offer a young man…

A: Stop feeling and start offering.

I₂: Sorry, sir. Our special CRAP salaries…

A: What?

I₂: Charles River Assistant Professorships—they start at $17,500. Unfortunately since Walter [Walter Heller] got back they’re only allowed to go up at 3.2% a year, but we try to make it up in sly ways. That’s for 9 months, of course…

A: Nine months?

I₂: Well, not nine full months—we do have a special slush fund to cover the week between terms. And we send you all expenses paid to the annual Christmas meeting any time it is in Miami. Of course if it’s not in Miami, we just send you to Miami.

A: Only fair. Pretty cold out there. Of course Adelman goes to the Virgin Islands every winter.

I₁: I’ve heard that Solow curls up in a hollow tree in Concord and hibernates.

A: How can they tell? Never mind. Seventeen-five sounds reasonable. What about the teaching load?

I₂: Teaching load? I didn’t realize you were actually willing to do any teaching. In that case you begin at 20,000, naturally. What were you thinking of teaching?

A: Why near-decomposability, of course. Is there anything else? By the way, do you have a Community Antenna Television Association [CATV]?

I₂: No, but…

A: No buts. I’m not interested. But you ought to see Bridger Mitchell [MIT graduate student, a telecommunications expert with Charles River Associates] while you’re here—I understand he won’t go to any university within 100 miles of a CATV. Tell me about Princeton.

I₂: But I haven’t told you about the 13/9^th summer pay, or the every-other-year sabbatical, or how you get Leo Hurwicz for a research assistant, and girls, girls, girls,…

A: Sorry. Not interested. Actually, I’m not anxious to leave the East coast anyway. To tell you the truth, I’m not even sure how to do it. Tell me about Princeton.

I₁: I do hope you will think seriously about Princeton, sir. We’re rather different from this Johnny-come-lately place, you know. More like a way of life. Gentlemen-scholars. Culture. Charm[?] Ivy. Yet intellect. We did have Einstone, you know.

A: You mean Einstein?

I₁: Well, we suggested he change his name. Don’t think we’re stuffy, however Princeton had a Negro student as long as 30 years ago. And one of these days we’re going to have another one. Our salaries may not be so high nor our teaching loads as light as those cow colleges’, but we’ve got class.

A: Even if I don’t take the job, I’ll put a tiger in my tank. But just how big is the teaching load?

I₁: Eleven hours.

A: Eleven hours a month isn’t too bad—after all, I run out of material on near-decomposability after 22 hours. But throw in a few trips to Washington, a week or two at the Bureau for decompression, Christmas in Miami, and the term is over.

I₁: The Princeton faculty doesn’t go to Miami. I’m afraid it’s eleven hours a week?

A: You are kidding. How can anybody teach eleven hours a week and still keep up his ONR [Office of Naval Research] project, his NSF [National Science Foundation] grant, and his consulting for oil companies?

I₂: The whole Minnesota department doesn’t teach 11 hours a week. Don’t be hasty, sir. We’ll buy you a Community Antenna Television set-up.

I₁: Don’t listen to him. You don’t have to lecture for 11 hours a week. You can work off some of it by discussion with graduate students.

A: I don’t see why Princeton graduate students should be treated better than MIT students. What’s the pay?

I₁: Eighty-five hundred.

A: Eighty-five hundred! Is that in 1954 dollars or something?

I₂: In Berkeley a teaching assistant gets 8500 just for picketing.

A: You’re having [?] me on.

I₁: I can see you’re not the Princeton type. Hardly anyone is.

A: How clever can you get? Well, gentlemen, thank you for dropping in. I’ll let you know in due course. Don’t call me, I’ll call you.

I₂: By the way, could you tell me what you’re writing your thesis on and how far you’ve got?

A: None of your goddamn business. But if you must know, Kuh once said that one regression is worth a thousand words. I figure 35,000 words makes a pretty fair thesis, so I’m doing 35 regressions.

I₁: On what?

A: On a computing machine, you dope. Now I’m afraid I have another appointment. I suppose some of the other students have agreed to see you. Miss Tapley will show you the way.

D.T.: Your next appointment is ready. The gentlemen from Harvard and Yale are waiting, the Wharton School has sent Albert Ando and two other people he claim are named Flend [Irwin Friend] and Klavis [Irving Kravis], there is a man from Northwestern who drove up in a Brink’s armored car he says is full of bills in small denominations, and the New York Knickerbockers claim they’ve picked the whole class in the draft.

Source: M.I.T. Libraries, Institute Archives and Special Collections. MIT Department of Economics Records. Box 2, Folder “GEA 1961-67”.

Image Source: “From the Flying Car to the Giant R2-D2: The Greates MIT Hacks of All-Time“, by Robert McMillan. Wired, March 20, 2013.

“Boston’s Harvard Bridge is 364.4 Smoots long. And the fact that anybody would remember this in 2013 was probably the furthest thing from MIT freshman Oliver Smoot’s mind on the October 1958 night that he lay himself down, time and again, along the bridge, allowing his fraternity brothers to measure its length (each Smoot is about 5 feet, 7 inches). It was a fraternity prank, but the next year the bridge’s Smoot markers were repainted. Thus, an MIT landmark — and a unique unit of measurement — was born.

Smoot himself went on to become a board member of the American National Standards Institute — a standards man through and through.”

Tags Ando, Domar, Heller, Kuh, Solow

Funny Business M.I.T.

M.I.T. Economics Faculty Skit à la Rowan and Martin’s “Laugh-In”, December 1968

Post author By Irwin Collier
Post date 2020-05-15

This post continues our series “Funny Business” that features successful and less-than-successful attempts at humor by economists. Reading one of these historical skits demands the reader to concede that the defense, “It seemed funny at the time,” might actually be valid for fifty year old jokes. At the December 1968 Graduate Economics Association party the M.I.T. economics faculty offered its version of the wildly popular, frenetic comedy series “Rowan and Martin’s Laugh-In” (like “Sit-in”, get it? As I just said, “it seemed funny at the time”).

For young and non-U.S. historians of economics, remote learning of the original Laugh-In content is easy:

Rowan & Martin’s Laugh-In information at IMDb.
Rowan & Martin’s Laugh-In highlights on YouTube.

The tag-line “Sock it to me” was a creation of the 1960s and made a meme by Rowan and Martin’s Laugh-In. Paul Samuelson closing the skit with that line is almost up there with 1968 Presidential candidate Richard Nixon’s saying it in his cameo appearance on Laugh-In.

The skit transcript below includes some square-bracketed comments to help the reader. Of course, nothing says “joke” more than a good footnote.

______________________

Reminder/Invitation

December 11, 1968

Graduate Students, Faculty Members
and Secretaries

DON’T FORGET!!

A week from today is the GEA Christmas Party—Tuesday, December 17^th. The festivities will begin at 8:00 pm in the Campus Room of Ashdown House. Admission is only $1.00 and the entertainment is free.

______________________

GEA CHRISTMAS SKIT 1968
[Faculty]

	Music
[Franklin M.] Fisher:	It’s the Faculty Laugh-In.
	Music
	(Enter [E. Cary] Brown, [Paul A.] Samuelson and [Robert L.] Bishop, Brown and Samuelson sit.)
Samuelson:	For the first question on your advanced theory oral: Who was the greatest economist of all time?
Bishop	(After much thought) Pigou…
	Music
[Morris] Adelman:	It is written: when offer curve bend backwards, then is time to send [Walt] Rostow to Texas. [For background to Rostow Affair, see Appendix below]
	Music—through
[Matthew D.] Edel (carries sign)	“Economics is a dismal science”
	([Peter] Temin and [Duncan] Foley enter as Rowan and Martin)
Foley:	It certainly was a swell idea to put on a faculty laugh-in.
Temin:	It’s so much easier than thinking up a connected skit.
Foley:	Well, what cute laugh-in type feature do we have coming up next?
Temin:	I see by my script here that we’re going to have a “Laugh-in looks at…” next.
Foley:	Yes, it says: Faculty laugh-in looks at the new [Nixon] administration.
	Music
[Jerome] Rothenberg:	Washington: James Reston has expressed outrage at news reports that the University of Maryland has no plans to hire Spiro T. Agnew. [Motivation for James Reston mention here see, Appendix “Rostow Affair” below]
Temin:	Meanwhile at the Council of Economic Advisers, Republicans begin to grapple with the unaccustomed complexities of the Federal budget.
	(enter Bishop and Foley)
Bishop:	They always said Art Okun could do it with a pencil on the back of an envelope. [See Appendix below]
Foley:	I still think we’d better wait for the computer printout.
Bishop:	No, look, its easy. Let’s see, how does it go? Is it Y = C + the deficit, or does the deficit = Y + C?
	Music
Temin:	At the same time we hear the swan song of liberals seeking sanctuary on college campuses.
Fisher:	Song “Hey Dick [Nixon]” [presumably to the tune of “Hey Jude”, lyrics to parody not in the file]
Rothenberg:	Washington: the M.I.T. economics department has again startled Washington circles by announcing that it will not hire Henry Kissinger in 1972. [cf. Appendix below on “Rostow Affair”]
Foley:	Why don’t we just use their budget?
Bishop:	And give up on the job? It can’t be that hard.
Foley:	We don’t even have the computer printout yet.
Bishop:	Doesn’t investment come in here someplace?
	Music
Rothenberg:	Washington: It has just been learned that the M.I.T. economics department, responding to the furor over the Rostow affair has abolished its economic history requirement. [see Appendix below]
	Music
	(Man seated, knock on door: goes to answer, returns)
Adelman:	Dear, Mr. Brower is here to fix the point (calling). [Punny reference to Brower’s fixed-point theorem that is a building block for the proof of the existence of a general equilibrium.]
	Music—through
Edel (carries sign)	“Pigou Power”
	(Enter Bishop, Brown, Samuelson)
Brown:	Describe an Edgeworth-Bowley Box.
Bishop:	(gesturing) It’s about so wide…
	Music
	(Enter Foley and Temin)
Foley:	What movie did you see last night?
Temin:	“Thoroughly Modern Miltie” [clearly “Milton Friedman”, the film’s title was “Thoroughly Modern Miltie”]
	Music—through
Fisher (carries sign)	“Nest principal minors” [Linear algebra joke, written like a creepy, even pedophilic, command here, “nested principal minors” or “nest of principal minors” would be proper.]
Rothenberg:	The negative definite is equivalent to the lie direct. [Shakespeare As You Like It, V:iv in Appendix below]
	Music
Foley:	The computer printout is here!
	(enter tons of printout)
Bishop:	I think I’ve got it!
Foley:	What?
Bishop:	One of Okun’s envelopes. How old do you think this is anyway?
	Music
Samuelson:	A Poem by Paul A. Samuelson Some people cover lots more ground But no one handles the New York Times like Carey Brown. [Likely another reference to the Rostow Affair, see Appendix Below]
	Music
	(Adelman seated, door knock)
Adelman:	Dear, Mr. [Evsey] Domar is here to compare the systems. [One of Evsey Domar signature courses was “Comparative Economic Systems”]
	Music
Foley:	What movie did you see last night?
Temin:	Ride the high Pontry [“Ride the High Country”, 1962 Western film by Sam Peckinpah]
Foley:	What Pontry again? [A punny reference to Pontryagin’s maximum principle in optimal control theory.]
	Music
	(Enter Bishop, Samuelson, Brown)
Brown:	What was Marshall’s greatest contribution?
Bishop:	In 1903, Marshall gave £1500 to King’s College.
	Music
	(Enter Fisher and Temin with box)
	“2 squares least stage” (sign) [“2-stage least squares” is the name of statistical procedure, here Fisher and Temin are the two “squares“.]
	Music
Adelman:	Mark Hopkins said the ideal education is a professor and a student sitting on a log, with the professor talking to the student. I sometimes think I would get the same results sitting on the student and talking to the log.
	Music
Bishop:	Sock it to me
	Music
	(Enter Temin and Foley)
Temin:	Here we are out here again imitating Rowan and Martin.
Foley:	Shouldn’t you be standing on the other side? What now?
Temin:	Now we’re giving the “Flying Fickle Finger of Fat Award” just like on TV.
Foley:	And who gets the “Flying Fickle Finger of Fat Award”?
Temin:	Fate. The Flying Fickle Finger of Fate Award goes to…
	(Music cue—fanfare)
Temin:	Kenneth Boulding for receiving a vote of confidence from…himself. [Boulding gave his Presidential address to the American Economic Association a few weeks later on “Economics as a Moral Science”. For likely background to the joke see the Appendix below.]
	Music
Fisher:	A Bordered hessian is a German mercenary surrounded by continentals.
	Music
Samuelson:	(carries sign) “I am an external economist.”
	Music
Foley:	What movie did you see last night?
Temin:	“Closely watched brains” [“Closely watched trains”, 1966 Czech film directed by Jiří Menzel]
	Music
Foley:	(Poring over computer printout). I think the whole idea of the budget is a stupid, dumb, stupid idea. Why do we even need a budget?
Bishop:	Look, we’ve got to have something to send down to the Congress tomorrow.
Foley:	I’m going to hold my breath until the stupid deficit comes out right.
Bishop:	Just try to remember whether capital gains are part of income or not.
	Music cue
	(Enter Fisher, Temin, Edel) “3 squares least stage” (sign) [“3-stage least squares” is a statistical procedure, and Fisher, Temin and Edel are the three “squares“.]
	Music
Brown:	The students are revolting.
Bishop:	Yes, I’ve though so for a long time.
	Enter Everybody
Rothenberg:	SDS Sam [SDS=Students for a Democratic Society… (wild guess) impression of Bogart saying “Play it Again Sam”?]
Foley:	Well, here we are out here again, and it’s time to say…
Temin:	Long joke.
Foley:	Say goodnite, Peter.
Temin:	Goodnite, Peter.
Samuelson:	Sock it to me.

Source: M.I.T. Archives. Folder “GEA 1967-68”.

_________________________

Appendix

Rostow Affair

Source: Howard Wesley Johnson, Holding the Center: Memoirs of a Life in Higher Education. From Chapter 8, pp. 189-90.

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

Art Okun’s Reputation as an economic forecaster “on the back of an envelope”

Source: Joseph A. Pechman contribution for In Memoriam: Arthur M. Okun. November 28, 128–March 23, 1980 (Washington, D.C.: Brookings Institution, 1980), p. 14.

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

From Shakespeare’s As You Like It
Act V, Scene 4.

JAQUES

Can you nominate in order now the degrees of the lie?

TOUCHSTONE

O sir, we quarrel in print, by the book; as you have
books for good manners: I will name you the degrees.
The first, the Retort Courteous; the second, the
Quip Modest; the third, the Reply Churlish; the
fourth, the Reproof Valiant; the fifth, the
Countercheque Quarrelsome; the sixth, the Lie with
Circumstance; the seventh, the Lie Direct. All
these you may avoid but the Lie Direct; and you may
avoid that too, with an If. I knew when seven
justices could not take up a quarrel, but when the
parties were met themselves, one of them thought but
of an If, as, ‘If you said so, then I said so;’ and
they shook hands and swore brothers. Your If is the
only peacemaker; much virtue in If.

Source: From the Shakespeare homepage at M.I.T.

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

Kenneth Boulding’s Vote for AEA to Meet in Chicago in 1968

Source: Robert Scott, Kenneth Boulding: A Voice Crying in the Wilderness (Palgrave Macmillan, 2014).

Tags Adelman, Bishop, Boulding, BrownHG, Domar, EdelMD, FisherFM, Foley, Okun, RostowWW, Rothenberg, Samuelson, Temin

Berkeley Economics Programs M.I.T. Race

M.I.T. Economics Chair’s Account of Early Efforts of Affirmative Action for Black Graduate Students. Cary Brown, 1974

Post author By Irwin Collier
Post date 2020-04-26

Starting with the 1970/71 academic year, the M.I.T. economics department launched an initiative to increase the enrollment of black students in its graduate program. E. Cary Brown, the head of the M.I.T. economics department described the first four years experience of the initiative in his response to an inquiry from the chairperson of the Berkeley economics department, Albert Fishlow.

For considerably more on this subject, see:

William Darity, Jr. and Arden Kreeger. The Desegregation of an Elite Economics Department’s PhD Program: Black Americans at MIT in MIT and the Transformation of American Economics (Annual Supplement to Volume 46 of History of Political Economy, edited by E. Roy Weintraub. Duke University, 2014) pp. 371-335.

____________________________

M.I.T. Economics Department’s Experience With Expanding Graduate Enrollment of Black Students, 1970-74

September 18, 1974

Professor Albert Fishlow, Chairman
Department of Economics
University of California
Berkeley, California 94720

Dear Professor Fishlow:

This letter is in reply to your letter of August 9, 1974, requesting information on our procedures with respect to qualified minority students.

As background, you should know that we had no special programs for minority candidates (although we had a few such students) until the entering class of 1970. At that time we took seriously an experiment to see if the number in our student body could be expanded. In the admissions process we set aside criteria we had used in the past, on the assumption that they were not as relevant to minority candidates. With the help and advice of several of our Deans for Minority Students and our own contacts with minority groups, we selected three students that first year (1970-71). Subsequently we admitted 3 blacks in 1971, 4 in 1972, 2 in 1973 and 4 this year.

Initially we organized a summer tutorial program that worked on the development of their mathematical skills and gave them a serious taste of what was to come in theory and statistics. This was supervised and participated in by several faculty and graduate students. We now make this a standard offering at students’ options, and this summer, for example, only one entering student requested this special help.

The tutorial program was extended into the regular academic year when students required it. We are still prepared to carry this out, but, in general, it has diminished essentially to zero.

There has been no modification in the academic program or requirements for minority students, nor any tempering of standards. They have been urged to take a less heavy program than the ordinary student—to stretch out preparation for their examinations. Typically they added about a year to the preparations time, but that, too, seems to be less necessary.

We have had many discussions with black students to try to achieve better communication and awareness of mutual problems. What started as essentially a student-faculty committee has evolved into a Black Graduate Economics Association. This association, on its own volition, prepared a video tape presentation for the purposes of encouraging minority high school students to go on to college in economics, to encourage minority college student to go on to graduate school, and to encourage this group to come to M.I.T. There was much informal recruiting by the black students. When admitted candidates visited Cambridge to determine what graduate school to attend, the program would be essentially organized by some of our black students. They have been extremely important in establishing an environment congenial to black students, and conveying their enthusiasm about the program.

The relations have been good with the black students, especially as between faculty and black students. There have been some student problems, feelings of exclusion and the like, that existed last year. The precise source of these difficulties we have not been able to ascertain. We are also aware that black women have had special complaints that neither the black males nor the faculty could fully understand. Our keeping communications open has perhaps depended on luck, but certainly also depended heavily on particular black students here and on particular faculty and the administrative officer who have made substantial amounts of time available to them and who have helped with their social and living problems.

One problem should be pointed out to you. Much of graduate instruction is self instruction by students in study groups. The black students complained at first that they had no leader, no one they could emulate, no one who could answer their problems. This has changed as the quality of preparation has improved, but it is something that I would urge you to keep in mind. A second problem with high incidence is the difficulty of family adjustment (and most of our minority students have families) to the demands of academic life (including work for many of the wives).

We have no special departmental resources for minority students. M.I.T. has some resources, usually for new students, and there are the national minority fellowships that many of our students have won. Otherwise, they are supported by general graduate financial aid at M.I.T. or in the Department.

Finally, you might look briefly at the record of the minority students. Of the three who entered in 1970, on went to another University to get a Master’s degree (after two years here), another transferred to a Master’s program in Urban Studies at M.I.T. (after two years). The third passed his general examinations a year ago, but has made little progress on his dissertation. Of the second year admittees, two have passed generals and are at work on theses, the third is still in school after being out for a year. The 1972 group includes two who partially failed their generals, two who will be taking them this year. Of the 1973 group, one transferred to another graduate school and one will take generals this year.

I am not sure how I would describe our program. It is viable; there are enough students as a group so they do not feel they should drop out or transfer; morale seems to be high. On the other hand, we have put much time and resources into the program and do not yet have candidates who have completed the program. We have had the satisfaction of seeing the quality of preparation and the enthusiasm rise. We are also sure that we will have a half dozen Ph.D.’s from this minority group in the next three or four years.

I am sending you a copy of our current graduate brochure which contains more detailed information than the catalogue. Professor Robert L. Bishop is Chairman of the Graduate Committee on Admissions, and Professor Peter A. Diamond is Chairman of the Graduate Committee.

Sincerely yours,

E. Cary Brown, Head

ECB/ss
Enclosure

Source: Massachusetts Institute of Technology. Institute Archives and Special Collections. Department of Economics Records. Box 1, Folder “Women + Minorities”.

Image Source: “E. Cary Brown, fiscal policy expert, dies at 91“. M.I.T. News. June 27, 2007.

Tags BrownEC, Fishlow

Economics Programs M.I.T.

M.I.T. Graduate Economics Association’s info-welcome letter to new cohort, April 1965

Post author By Irwin Collier
Post date 2020-03-16

Sloan Building
Massachusetts Institute of Technology
Cambridge 39, Massachusetts
April 21, 1965

Dear New Students:

On behalf of the Graduate Economics Association, I would like to welcome you to M.I.T. and Cambridge. This letter will try to tell you a little about your prospective surroundings at M.I.T. and in Boston, and about the GEA itself. If, after reading this letter, you have some unanswered questions, I heartily encourage your writing to me for more information. My address is on the last page of this letter.

M.I.T.

You have probably studied the Sears-sized catalogue of the Institute and found it an impressive document, if a bit forbidding. You will find that the Institute means business, but is run to make things reasonably smooth for the large body of students and staff. This means that it pays to read the notices, check mail boxes and announcements to meet deadlines, but that rules are made to be broken, given a good and sufficient reason. The idea is to ask the right person and keep asking until you get an authoritative answer.

The Economics Department

You will find that most of the time you spend and the contacts you make at M.I.T. will be within the department, especially if you do not live in the Graduate House. The department is located in the Sloan Building at the extreme east end of the campus, on the second and third floors (the latter housing the graduate registration officer and the head of the department). In the same building are the Sloan School of Management and the Faculty Club. Dewey Library, the Political Science Department and the Center for International Studies will be moving next door to quarters in the new Hermann Building. This may cause some confusion so be prepared to ask twice to find something. To reach the Sloan Building via public transportation you may either take a Massachusetts Avenue bus to any of the stops at the Institute, then proceed east along Memorial Drive (along the Charles River) about seven minutes walk; or you may take the Harvard-Ashmont MTA line to Kendall Square, then follow Wadsworth Street south (toward the River), and you are there.

You are about to begin graduate work with some of the finest economists in the world. We also like to feel that the group of graduate students here is an unusually stimulating and interesting one. There is an Institute rule that in effect requires residence until the thesis is completed. This rule is largely for your benefit, so that you can work alongside more advanced students. They are happy to talk to new students and should prove the best sources of more-or-less reliable information on all sorts of subjects. Incidentally, while you may feel that the most highly developed science among your colleagues is baseball, do not hesitate to ask for help in clearing up a point in economics. Some of us remember back to first-year courses.

The faculty are busy, but not too busy to see you if you have a question. Your initial faculty contact will be with Professor Kindleberger on Registration Day (September 20), whom you will deal with throughout the rest of the term regarding schedules, course changes, and other departmental affairs. Shortly after the beginning of the first term, we will arrange a short session for all first-year graduate students with one of the members of the department to enter your questions about department policy on graduate study in economics at M.I.T.

Most of the economics books and journals you will need can be found in Dewey Library. On Registration Day, beginning at about 3:00 p.m., Miss Klingenhagen, the head librarian will give entering students her Grand Tour of the library. You will find that it is quite easy to make use of Dewey’s reading and research facilities. You will also find that the freedom of individual movement is relatively greater than in most large institutional libraries (including some other M.I.T libraries). This, of course, behooves students to comply with a few wishes of the library staff regarding (the relative absence of) noise and the process of checking out, caring for, and returning books. If you have questions, suggestions, or complaints, see Miss Klingenhagen, Mr. Presson, or anyone else on the library staff. Do not hesitate to ask the library to get any books relating to economics which they do not have, or of which more copies are required. Of course, the longer lead time you give on your requests for books, the better the library is able to serve you.

The huge library resources of Harvard have become less accessible recently, but they can be used on occasion given sufficient ingenuity and a modicum of determination. Widener is the most attractive and of course the most restricted library at Harvard. Littauer (economics and public administration) and Baker (business school) are both available without much trouble, at least for in-room use and certain stack privileges. The surest way to gain access to all this wealth is to take a course at Harvard. Short of this direct (and perhaps painful?) approach, more devious and less certain means must be employed.

The Graduate Economics Association

As you may have guessed, the GEA is comprised of all graduate students in economics. Its functions are to provide services involving external economies. This includes a lounge, economics seminars, social functions, student-faculty liaison, and the present opus. All this is run on the paltry sum of $2.00 per member per year, payable at the cocktail party to be held on:

Registration Day, September 20, 1965

On Registration Day, the GEA will sponsor a cocktail party to celebrate your entrance and the beginning of classes the next day. TIME: 4:00 p.m. PLACE: Faculty Club Penthouse on the 6-1/2 floor of the Sloan Building. The first two drinks will be subsidized to the amount of $0.50; anyone who thinks he can stand a third (or fourth…) will have to subsidize himself (note we said “sponsor” a cocktail party). The primary purpose of the party is to afford everyone an opportunity to meet his colleagues, both new and “old” students and faculty.

Earlier in the day, from 10-12 a.m., the GEA will provide (not sponsor) a free advisory service to clear up confusion and to give life and meaning to catalogue course descriptions. GHQ for this service will be the Economics Lounge on the second floor of the Sloan Building.

LIVING IN THE BOSTON AREA

Geography

Boston, like all great metropolitan areas, is a slum-infested city surrounded by hundreds of suburbs. You will quickly find that each landlord sells the combination of housing and location, and that a good location may come dear. Yet it will also be discovered that the good locations and the popular may differ markedly, especially for you. The Sloan Building is located in an industrial district, and there is little in the way of living quarters in that part of Cambridge. On the other hand, just across the “Pepperpot” Bridge is Beacon Hill. This famous address is actually a paradoxical combination ranging from the homes of some of Boston’s venerable old families, to near-slums with various degrees in between which are acceptable to a struggling graduate student. The whole riverside area from there up to the Fenway lies within possible walking distance and abounds with possible living accommodations. Moving further back, rents become cheaper and flats more modest as we go into the Back Bay area. The adjacent suburbs such as Allston, Brighton, Brookline, Somerville, Watertown, and, for that matter, the other parts of Cambridge itself offer still more in the way of apartments, remodeled homes, and, for the single person, rooming houses. (There are some good rooming houses for singles just off Central Square.) Cambridge, especially in the Harvard Square area, tends to charge for location. Obviously you can evaluate this in terms of the time and money that the distance involves. Whether you have a car or whether you can get into a car pool with a fellow student will contribute to this decision. But don’t plan on parking privileges at M.I.T. The parking lot next to the Sloan Building is filled with construction. Even in better days students seldom qualify for “a parking sticker.” it would be wise to write the Campus Patrol for an application, but the general rule is you must live outside of Cambridge and off the MTA routes. Then available spaces are allotted by seniority (leaving Graduate Students next to last). The public transportation in Boston is probably more adequate than those who suffer with it like to think. Fares are 20 cents for the subway, and 10 cents for most surface transit.

Housing

Housing in the areas listed above is a problem for everyone, especially those who are on a tight budget (i.e., everyone). For unmarried students, the solutions are: the Graduate House, a room, or an apartment. The alternatives to the new M.I.T. housing for married students are an apartment or a house. Some sources of information on available accommodations are:

–the M.I.T. housing office in Building 7, Room 7-102. Up-to-date listings are available.

–Phillips Brooks House at Harvard (supposedly for Harvard students, but no questions are asked). Up-to-date listings are available.

–bulletin boards, at M.I.T.: Graduate House, Dewey Library (in Sloan Building), Building 10; at Harvard: ask bearded students; and at the Stop & Shop Supermarket on Memorial Drive, Cambridge.

–local newspapers, especially the Sunday Globe, Tech Talk, Harvard Crimson.

–real estate agents, pavement pounding, asking everyone, putting up notices, etc.

You will find that rents may be found in the neighborhood of $70 per month and (mostly) up for good apartments, $110 to $150 (for two persons), and that rooms may go for a little as $10 per week. If you can, come up early and spend a day or two looking. Don’t get discouraged by the places or prices, since there are good places available, particularly before the first week of September. Anyone who waits until after September first, however, will almost certainly find his choice limited. Most leases run for 12 months, expiring the end of August. As you shall probably have to pay for the entire month of September, this is an additional incentive to arrive early, whenever possible.

Furniture

Here again the situation is confusing. The extra cost of a furnished apartment may be far greater than the value in use of the furniture. There are numerous ways to obtain furnishings. First, check the bulletin boards, although these are the most fruitful in May and June. Second, call the M.I.T. Dames who hold a furniture sale each fall (M.I.T. Student Furniture Exchange, Ext. 4293). Rental services can be a good value, and there are a large number of secondhand dealers. Massachusetts Avenue, in Cambridge, between Central and Harvard Squares, is lined with these places. Charitable groups such as the Salvation Army, the Morgan Memorial, and the Saint Vincent de Paul Society also sell second-hand furniture. On the other hand, judicious shopping in the legitimate new furniture stores and discount houses such as Sears or Lechmere Sales may yield better values in the long run. As might be expected, those firms specializing in the student trade raise prices come September—therefore, early arrival and use of more general sources is advisable. Last fall I became the Chippendale of amateur furniture makers and would be happy to give advice on this, if requested.

Graduate House

For unmarried students who want to avoid housekeeping, the Graduate House may be the answer. On paper the House, with its activities, dining room, and proximity to campus, seems ideal. Prices range from $160 to $235 a semester, and it is quite likely that you will be paying the higher prices, as there are many more rooms available in this range—all triples. Singles are almost impossible to obtain as a first-year student; further, the chances of rooming with a fellow economist are quite small. However, it has been possible in the past to switch roommates and/or rooms during the year if desired.

The rooms are fully furnished, which is a help, and contain lamps, beds, desks, easy chair, and bureaus. With the latest rent increase, the Institute also cut down janitorial service and stopped providing linen. There are washing machines in the basement, where the showers are also located. It is an old but well-kept-up building. Some of the rooms are on the dingy side, but they are large if nothing else (except for some of the singles, which look like converted closets).

There is a cafeteria-dining room in the Graduate House, which serves somewhat-better-than-average institutional food on a pay-as-you-eat basis; meal costs here are likely to run close to $3.00 per day (for three meals). You can contract for commons meals, arranging for these either at the Grad House or at Walker Memorial, or a combination of the two (breakfast at the Grad House, lunch and dinner at Walker, has proven convenient for Grad House residents who spend their life in the relative isolation of the Sloan Building). Walker Memorial is close to 5 minutes walk from the Grad House, but on the way to the Sloan Building, and provides a gathering spot for many economics students at lunch and dinner. For the single student, these gatherings can be a valuable aspect of life around M.I.T. The Grad House sponsors assorted dances, teas, and lectures, and is equipped with ping-pong, television, a record player, and a darkroom. There are intramural sports and you are allowed to entertain guests at any time. There is generally a long waiting list for entry into the Grad House, but students who have lived there recommend it highly, and well worth the effort of applying. A check at the House on arrival may reveal that the waiting list has shortened considerably as people changed their mind, went elsewhere, or otherwise dropped out.

Parking around the Graduate House is quite difficult, but not impossible. Parking permits to the House parking lot are next to impossible to obtain unless there is a special reason. The lot is open to all, however, on weekends, and occasional weekday parking in the lot usually leads to no difficulty.

Roomates

While normally considered a personal problem, we sympathize with the desire of some incoming graduate students to make contact with other members of your class in hopes of sharing an apartment (sounds like a lonely hearts club). Therefore, for your convenience (and to satisfy your curiosity), we have included a list of students admitted for next fall. If any of you want to make contact with classmates, send your name back to me by the end of May, plus your summer address, and I will compile a short list of those desiring roommates. This will be returned to the interested parties. All further action must be initiated by you. Correspondence during the summer might more safely be addressed to Myra Strober. (See last page)

The Coop

You are entitled to be a member of the nation’s most successful consumers’ cooperative—the Harvard Cooperative Society (or Coop). Its main store in Harvard Square stocks a full line of clothing, supplies, books and other needed items, and its Technology Store—to be located on the first floor of the new M.I.T. Student Union—on Massachusetts Avenue across from the main building of M.I.T.—carries a moderate number of these items and can, if feasible, have others transferred. The big advantage is that you get a 10 per cent discount on your purchases payable the following fall. (Economists have often wondered how all the bookstores in Harvard Square meet this competition. Apparently they can survive without following the same course; but one, the Mandrake, does give a 10 per cent spot discount which is, of course, even better than the Coop’s deferred 10 per cent. However, some negotiating may prove that the practice is more widespread than that.)

Employment for Students

Summer jobs and part-time jobs are handled through the Placement Office and/or the Department of Economics. See Professor Kindleberger or Miss Tapley for this.

Employment for Wives

The search for jobs for students’ wives can be something of a struggle. As in all cities women will find:

–employers are more interested in secretarial skills than higher education

–the fields where women can use their special training are those in which there is a shortage of men—the sciences in particular

–the average Boston company has little faith in the career girl, and she is likely to get passed over in favor of the male

The large employers in Boston are the insurance companies and banks, and the schools such as M.I.T. and Harvard. They are all constantly searching for qualified people, though the emphasis is generally on secretarial and clerical rather than professional or administrative jobs. At the Institute, both the Office of Personnel Relations and the Technology Dames are particularly interested in helping students’ wives find jobs.

There are commercial employment agencies which charge a week’s salary (or more) for placement, but they tend to be fee-happy and should be a last resort. However, the Women’s Educational and Industrial Union at 264 Boylston Street, Boston, is said to combine real counseling, consideration of your interests, and wide variety of jobs. The Boston Globe has the best listing of employment opportunities of all the papers.

Another field worth exploring, as we are told, is teaching in one of the private schools which may be open to women with college degrees even if they have had no formal training in education. However, they may require experience. The public school systems are a mass of prejudices, arbitrary rules, and other impediments to hiring. As a start, on requires American citizenship and certification by the Massachusetts Department of Education. For such work you will obviously need education courses and may find bars against you due to lack of experience or because of marriage. Surprising as it may seem, the suburban public school systems, which are the more attractive from a teacher’s standpoint, seem to be more willing to hire working wives of students than do the Boston or Cambridge Systems.

Miscellaneous

Harvard and M.I.T. students put out various unofficial guides to graduate school life, full of information on the worldly temptations of the area (music, women, restaurants, etc.). These are worth reading even if you are sure you will never stray from the path of duty. A copy of M.I.T.’s guide is sent to American students only, with admissions material. We will have copies of the guide available for those who did not receive them at the desk of the registration officer’s secretary (room 52-380) on registration day.

Owning a car here is extremely expensive and inconvenient, but the alternatives do not appeal to many people. Since Massachusetts auto registration and insurance in the Cambridge-Boston area are very expensive, you will be well advised to maintain your home-state registration. Daytime parking around M.I.T. is difficult, unless you arrive by 8:00 a.m. or are prepared to pay or walk. As was noted above, Tech parking lots are for staff, employees, and those who live far away (in the past this has meant outside Cambridge and off the M.T.A. routes) or are disabled. If you get lost frequently while driving in Boston, you are normal, but otherwise traffic is no heavier than in other cities. The style of driving takes some getting used to, but you can stand up to anyone except taxis and pedestrians.

Finally, here is a way to be one-up around M.I.T. The secret is numbers. Buildings, courses (i.e. fields of study), subjects, rooms, and books carry numbers, as do students. Example: your number is 658350, as you find out from your registration card. You are in Course XIV (Economics and Social Science), you are taking 14.121 (a first-semester, graduate economics subject), which meets in room 52-143 (Sloan Building, first floor, room 43.)

If you have any questions in the meantime, I would be happy to hear from you: my address is listed below. When you arrive at M.I.T., others will be pleased to answer any questions, and I will usually be available around the Dewey Library or the Economics Department on weekdays. The place is small enough that there should be no difficulty finding me there.

In closing, let me once again encourage you to write me if you have any questions, problems—or just to say hello. In any case, I look forward to seeing you come September.

Sincerely yours,
[signed]
Lovell S. Jarvis

GEA Officers

President	Secretary-Treasurer	Seminar Chairman
Lovell S. Jarvis 417 East Tenth Street Winfield, Kansas (During April and May, Room 52-371, M.I.T.)	Myra H. Strober 368 Riverway Boston, Massachusetts	William M. Vaughn, III

Source: M.I.T. Archives. Department of Economics Records. Box 2, Folder “1969 G.E.A. 1970”

Source: Historical Working Papers on the Economic Stabilization Program …, Part 3, By United States. Department of the Treasury. Office of Economic Stabilisation, p. 1496.

Tags Jarvis, Kindleberger, Strober, Vaughn

Amherst Barnard Berkeley Brown Chicago Colorado Columbia Cornell Dartmouth Duke Harvard Illinois Indiana Iowa Johns Hopkins Kansas M.I.T. Michigan Michigan State Minnesota Missouri Nebraska North Carolina Northwestern NYU Ohio State Pennsylvania Princeton Radcliffe Rochester Stanford Swarthmore Texas Tufts UCLA Vassar Virginia Washington University Wellesley Williams Wisconsin Yale

U.S. Bureau of Education. Contributions to American Educational History, Herbert B. Adams (ed.), 1887-1903

Post author By Irwin Collier
Post date 2020-02-22

I stumbled across this series while I was preparing the previous post on the political economy questions for the Harvard Examination for Women (1874). I figured it would be handy for me to keep a list of links to the monographs on the history of higher education in 35 of the United States at the end of the nineteenth century. Maybe this collection will help you too.

Contributions to American Educational History, edited by Herbert B. Adams

The College of William and Mary. Herbert B. Adams (1887)
Thomas Jefferson and the University of Virginia. Herbert B. Adams (1888)
History of Education in North Carolina. Charles L. Smith (1888)
History of Higher Education in South Carolina. C. Meriwether (1889)
Education in Georgia. Charles Edgeworth Jones (1889)
Education in Florida. George Gary Bush (1889)
Higher Education in Wisconsin. William F. Allen and David E. Spencer (1889)
History of Education in Alabama. Willis G. Clark (1890).
History of Federal and State Aid to Higher Education. Frank W. Blackmar (1890)
Higher Education in Indiana. James Albert Woodburn (1891).
Higher Education in Michigan. Andrew C. McLaughlin. (1891)
History of Higher Education in Ohio. George W. Knight and John R. Commons (1891)
History of Higher Education in Massachusetts. George Gary Bush (1891)
The History of Education in Connecticut. Bernard C. Steiner (1893)
The History of Education in Delaware. Lyman P. Powell (1893)
Higher Education in Tennessee. Lucius Salisbury Merriam (1893)
Higher Education in Iowa. Leonard F. Parker (1893)
History of Higher Education in Rhode Island. William Howe Tolman (1894)
History of Education in Maryland. Bernard C. Steiner (1894).
History of Education in Lousiana. Edwin Whitfield Fay (1898).
Higher Education in Missouri. Marshall S. Snow (1898)
History of Education in New Hampshire. George Gary Bush (1898)
History of Education in New Jersey. David Murray (1899).
History of Education in Mississippi. Edward Mayes (1899)
History of Higher Education in Kentucky. Alvin Fayette Lewis (1899)
History of Education in Arkansas. Josiah H. Shinn (1900)
Higher Education in Kansas. Frank W. Blackmar (1900)
The University of the State of New York. History of Higher Education in the State of New York. Sidney Sherwood (1900)
History of Education in Vermont. George Gary Bush (1900)
History of Education in West Virginia. A. R. Whitehill (1902)
The History of Education in Minnesota. John N. Greer (1902)
Education in Nebraska. Howard W. Caldwell (1902)
A History of Higher Education in Pennsylvania. Charles H. Haskins and William I. Hull (1902)
History of Higher Education in Colorado. James Edward Le Rossignol (1903)
History of Higher Education in Texas. J. J. Lane (1903)
History of Higher Education in Maine. Edward W. Hall (1903)

Image Source: Cropped from portrait of Herbert Baxter Adams ca. 1890s. Johns Hopkins University graphic and pictorial collection.

MONETARY ECONOMICS II 14.463 Professor R. Dornbusch Fall 1976

I. BACKGROUND

II. DISEQUILIBRIUM ANALYSIS

III. DEMAND FOR MONEY

IV. MONEY, INFLATION DYNAMICS AND GROWTH

V. RATIONAL EXPECTATIONS

VI. TEMPORARY EQUILIBRIUM, THE CONSUMPTION LOANS MODEL, AND THE BURDEN OF THE DEBT

VII. INDEXATION AND THE LABOR CONTRACT

VIII. MICRO FOUNDATIONS OF MONEY

14.454 MACRO THEORY IV Fall 1973, 2nd half

I. Growth Theory

II. Optimal Growth

III. Capital Theory

14.454 FINAL EXAM R. M. Solow 19 Dec 1973

Dating the Memo

Memo from E. Cary Brown to M.I.T. faculty going to Dec. 1965 AEA meeting

Memorandum Regarding Personnel Interviews in New York

University of Chicago

Princeton

Stanford

Yale

York

Johns Hopkins

University of California, Berkeley

Cornell

Buffalo

Columbia U.

Pittsburgh

Not included in the survey

How the Study was was Made [pp. 11-13]

War Courses Offered in Collegiate Schools of Business and Departments of Economics

Economics of War

Instructors and course descriptions

Bibliography Texts used in War Courses Offered by Collegiate Schools of Business and Departments of Economics

ECONOMICS OF WAR

General Examination in International Economics February 9, 1966

International Economics General Exam May 1966

GEA Christmas party 1964

Appetite of a Man; Income of a Boy (The Seven Stages of a Student) a play in six acts

Cast

Act I: The Admission Interview—Student and Admissions Committee

Act II—Registration

Act III—Reg. Off. To the First-Year Class.

Act IV: The General Examination

Act V. The Thesis Defense [missing]

Act VI. Employment

Reminder/Invitation

GEA CHRISTMAS SKIT 1968 [Faculty]

Appendix

Rostow Affair

Art Okun’s Reputation as an economic forecaster “on the back of an envelope”

From Shakespeare’s As You Like It Act V, Scene 4.

Kenneth Boulding’s Vote for AEA to Meet in Chicago in 1968

M.I.T. Economics Department’s Experience With Expanding Graduate Enrollment of Black Students, 1970-74

M.I.T.

The Economics Department

The Graduate Economics Association

Registration Day, September 20, 1965

LIVING IN THE BOSTON AREA

Geography

Housing

Furniture

Graduate House

Roomates

The Coop

Employment for Students

Employment for Wives

Miscellaneous

GEA Officers

Contributions to American Educational History, edited by Herbert B. Adams

MONETARY ECONOMICS II
14.463
Professor R. Dornbusch
Fall 1976

14.454
MACRO THEORY IV
Fall 1973, 2^nd half

14.454 FINAL EXAM
R. M. Solow
19 Dec 1973

How the Study was was Made
[pp. 11-13]

Bibliography
Texts used in War Courses Offered by Collegiate Schools of Business and Departments of Economics

General Examination in International Economics
February 9, 1966

International Economics General Exam
May 1966

Appetite of a Man; Income of a Boy
(The Seven Stages of a Student)
a play in six acts

Act V. The Thesis Defense
[missing]

GEA CHRISTMAS SKIT 1968
[Faculty]

From Shakespeare’s As You Like It
Act V, Scene 4.