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Economists Pennsylvania Teaching

Pennsylvania. Sketch of origins of economics instruction. Plummer, 1925

This 1925 memo was written in response to an inquiry by Edwin R. A. Seligman regarding the historical chronology of economics instruction at the University of Pennsylvania. It wandered into Joseph Dorfman’s papers where one finds a subset of Seligman’s papers. 

_________________________

Sampler of University of Pennsylvania
Documents

Circular of Information relating to the Wharton School of Finance and Economy, 1893

Circular of Information relating to the Wharton School of Finance and Economy, 1894-95

Catalogue of the University of Pennsylvania at HathiTrust
(Full-views 1848/49 through 1928/29).

Emory Richard Johnson, The Wharton School: Its First Fifty Years, 1881-1931.

Chapter 8  of Edgar Potts Cheyney’s History of the University of Pennsylvania 1740-1940

_________________________

UNIVERSITY OF PENNSYLVANIA
PHILADELPHIA

Wharton School of
Finance and Commerce

October 29th, 1925.

Professor Edwin R. Seligman
Columbia University
New York, N. Y.

My dear Professor Seligman:

About two weeks ago you wrote to Professor [Emory Richard] Johnson asking about the early teaching of Economics at the University of Pennsylvania and I informed you that I would look into the matter and let you have anything I could. Dr. W. C. [Wilbur Clayton] Plummer, an instructor in Economics, who has considerable ability as an historian, looked into the situation for me. Just how much of what he has prepared will be of use to you I am not sure, but I am enclosing you the copy of his material exactly in the form in which he submitted it to me.

If I can be of further help, will you kindly let me know!

With personal regards.
Very cordially,
[signed] Ernest M. Patterson

EMP/MH

THE EARLY TEACHING OF ECONOMICS
AT
THE UNIVERSITY OF PENNSYLVANIA.

The catalogues of the University of Pennsylvania beginning with the one for the year 1824 are preserved in the office of the Secretary of the University, and the descriptions of courses in these catalogues clearly indicate that the subject of Economics was not taught between the years 1824 and 1855. However, beginning with the scholastic year, 1855-56, lectures on the subject of Political Economy were given by Dr. Henry Vethake, Provost of the University and Professor of Intellectual and Moral Philosophy. In addition to the lectures on Political Economy, Dr. Vethake gave Instruction in “Intellectual Philosophy, Ethics, the Evidences of Natural and Revealed Religion, Logic, the Elements of Natural, International and Constitutional Law, and History in connection with Chronology and Political Geography. (1)

(1) University Catalogue, 1855-56, page 13.

All students in the Senior Class of the Department of Arts were required to attend the lectures on Political Economy and to take examinations in the subject. The public was admitted to these lectures upon presentation of tickets which were procured from the Professor in charge of the course. (2)

(2) Pamphlet, Report of the Committee appointed on the 2nd of January, 1855, proposing certain additions and alterations in the existing Laws for the Government of the Collegiate Department, page 3.

Former Provost Edgar Fahs Smith believes that none of the catalogues prior to 1824 is extant. In the absence of this reliable source, we cannot speak definitely of the period prior to 1824, except to say that if the subject of Political Economy or National Economy had ever been introduced into the curriculum during the period prior to 1824 it was also dropped from the curriculum during this same early period.

In 1749, Benjamin Franklin, in his proposals for a “compleat education of youth,” published when he was organizing the Academy which later developed into the University, proposed a course which resembles very much a modern course in Economic History. He thought that information on the History of Commerce, on the Invention of Arts, on the Rise of Manufactures, on the Progress of Trade, and the Change of Its Seats, with the Reasons, Causes, etc., should be given. (3) It may be said that he was proposing the teaching of History and not Economics but we believe it proper to mention this suggestion of the illustrious founder for it certainly refers to a great deal of subject matter which was later to be treated in Political Economy and the present Economics.

(3) Montgomery, T. H., a History of the University of Pennsylvania from Its Foundation to 1770, page 500.

An advertisement in the Pennsylvania Gazette of December 11, 1750 [sic, not found in that issue, but see below], shows that the course of study included “Merchants’ Accounts.” We also mention this fact at the risk of introducing irrelevant material into this paper. However, used in its broadest sense, the Economics of the present time includes Accounting, and we felt justified in making reference to the course in “Merchants’ Accounts,” given in the University in 1750.

The Pennsylvania Gazette (Friday, 18 December 1750), p. 3.

As stated above, the first course in Political Economy, as far as we have been able to determine, was given during the year 1855-56 by the Professor of Intellectual and Moral Philosophy. In 1868 the course was given by the Professor of English. In 1869, no course in Political Economy was given, but a course in Social Science was substituted for the course in Political Economy. The new course in Social Science undoubtedly included Political Economy as Carey was used as a text [see below]. In 1875, the course was changed again and given under the title “Social Science and National Economy.” The teacher at this time was Rev. Robert Ellis Thompson, who was appointed Assistant Professor of Social Science in 1874. The course was given in the Towne Scientific School as well as in the Department of Arts.

*  *  *  *  *  *  *  *  *

Carey, Henry Charles.
Principles of Political Economy.

Part the First: of the Laws of the Production and Distribution of Wealth. Philadelphia:1837.

Part the Second: of the Causes which Retard Increase in the Production of Wealth, and Improvement in the Physical and Moral Condition of Man. Philadelphia: 1837.

Part the Third and Part the Fourth: Of the Causes which Retard Increase in the Numbers of Mankind; Of the causes which Retard Improvement in the Political Condition of Man. Philadelphia: 1840.

*  *  *  *  *  *  *  *  *

The year 1881 was an outstanding year in the history of the University as far as the teaching of Economics is concerned. In that year the Wharton School of Finance and Economy, as it was then called, was founded. There was no Department of Political Economy but the course of study given under the Department of Social Science indicates the great emphasis placed upon the teaching of Economics in all its phases.

In the Senior year, the Economic studies were carried still further and the course of study included:

Lectures on Living Issues (Land, Labor, Monetary Questions in their popular aspects, Socialism and Communism, Free Trade and Protection, Charity Organization, Popular and Industrial Education);
Mulford’s Nation was studied, and
Original Research in the Theory and History of Economical Questions was made under direction of the Professor. (4)

(4) University Catalogue, 1881-82.

In the same year that the Wharton School was founded the University catalogue announced that “the University possesses what is believed to be the largest and most complete library of works on economic science that is to be found in any educational institution of the world. The foundation was laid by the great collection of the late Stephen Colwell, comprising between seven and eight thousand volumes, and including nearly every important book in this science in the English, French and Italian languages, besides many in German. This has been supplemented (1) by the gift from Mr. McCalmont of London, of a collection of some three thousand English pamphlets, covering the period from the close of the seventeenth century till our own time, and bound in chronological order; (2) by the bequest of the library of the late Henry C. Carey, including many works and pamphlets which appeared since Mr. Colwell’s death, and especially rich in statistical literature, European Governmental reports, and the like.” (5)

(5) University Catalogue, 1881-82, page 39.

The first Professorship of Political Economy in the University was established in 1888 and was held by Simon Nelson Patten. (6) Previous to the establishing of this professorship and the appointment of Professor Patten, Edmund Janes James, who had been appointed Professor of Finance and Administration in 1883 was one of the principal teachers of the various Economic subjects.

(6) Catalogue of Matriculates of the College, 1749-1893, prepared by a Committee of the Society of the Alumni, page XXIV.

Source: Columbia University Libraries Manuscript Collections. Joseph Dorfman Collection. Box 52 (Seligman, E.R.A.), Folder “E.R.A. Seligman, Correspondence”.

Image Source: University of Pennsylvania, PennLibraries. University Archives & Records Center website. “Henry Vethake, 1790-1866”.

Categories
Columbia Regulations Teaching

Columbia. List of suggestions for improving graduate education in economics. 1939

This post provides a 1939 students’ eye view of the graduate program in economics at the Columbia University Faculty of Political Science. Milton Friedman’s course on neo-classical economic theory gets very favorable mention and statistical methods are completely overlooked (the German proverb “The farmer only eats what the farmer knows“ probably captures the sentiment).

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All four students became professors

WYLLIS BANDLER: b. July 3, 1916 in White Plains, N.Y.; d. December 22, 1995 in Tallahassee, Florida.
B.A. (1937), M.A.(1938) in economics from Columbia. Ph.D. (1962) in mathematics from the University of Zurich. Professor of Computer Science at Florida State University, 1984-1995.

DICKSON RECK: b. April 13, 1904 in Rockford, Illinois; d. April 10, 1955 in Berkeley, California.
B.A. (1927) University of Illinois, Ph.D. (1951) in economics from Columbia University. Associate Professor of Business Administration, University of California (Berkeley), 1954-55.

VAN DUSEN KENNEDY: b. October 4 in Darjeeling, India; d. May 28 2015 in Santa Cruz, California.
B.A. (1935) Swarthmore College. Ph.D. (1945) in economics from Columbia University. Assistant Professor to Professor of industrial relations at the University of California (Berkeley), 1947-1977.

FRANK COOK PIERSON: b. November 4, 1911 in Denver, Colorado; d. November 30, 1995 in Haverford Township, Pennsylvania.
B.A. (1934) Swarthmore College. Ph.D. (1942) in economics from Columbia University. On the Swarthmore College faculty from 1940 to 1979.

________________________

Cover letter to Dean McCrea
from the students

Columbia University
May 9, 1939

Dean R. C. McCrea,
Columbia University,
New York City.

Dear Dean [Roswell Cheney] McCrea:

As we agreed at luncheon with you and Professor [Frederick Cecil] Mills the other day, we are sending you the typed notes of student suggestions to the Department of Economics. We believe that these represent the concurrence of general student opinion, plus the thought we have given these matters.

Hoping that the notes will prove useful to you,

Sincerely yours,

WYLLIS BANDLER
DICKSON RECK
VAN DUSEN KENNEDY
FRANK PIERSON

________________________

Notes on some student suggestions
for the operation
of the Department of Economics, Columbia Graduate Faculty.
5/7/39.

The suggestions concern chiefly gaps that are felt to exist in the offering of the department. There are also a few notes on the method of conducting various types of courses, and on the requirements placed on students, and on the allotment of credits.

1) History of Economic Thought. Intrinsic interest in this subject is amplified by a) Oral requirement, and b) the fact that many students feel that they will some day be called upon to teach it. Some feel that the subject is already overemphasized. In any case, there is the feeling that students should not be held responsible for so large a topic unless it is offered.

Various treatments are possible. a) A mere recital of doctrines. b) A tracing of current ideas. c) A combination with Economic History, concerned with the influence of the times on the theories, and vice versa. Treatment (c) is that followed by Professor [Wesley Clair] Mitchell in his former course, and in the extremely useful Lecture Notes made from it.

Student feeling la against being held for “all the doctrines, man by man, and all the men, doctrine by doctrine”. A combination of (b) and (c) above would probably be well received.

2) Economic theory. Statements in the first paragraph under (1) above hold here. This topic is understood to include (a) Systematic presentation of current schools of thought, and (b) in particular, the structure of Neo-Classical (and derivative) Theory. The material under (b) is very well handled by Milton Friedman’s Extension course. Convenience would be served by bringing this into the Graduate Catalogue, so that it would count, without special action, for the 15 central points for Master’s candidates.

Further particular large branches include c) Socialist Theory and d) Institutionalism. Student objection to the existing offering of Socialist Theory falls under two heads. First. It is claimed that the subject matter is not covered adequately in class, that the treatment is diffuse, incomplete and wandering. Second, it is protested that the treatment is not either so fair or so sympathetic as that given, say, Neo-Classical Doctrine.

Institutionalism is handsomely handled by Dr. [Joseph] Dorfman. There is some feeling that the materiel might be expanded to cover modern Institutionalists and their work and problems more intensively.

3) Economic History. Dr. [Louis Morton] Hacker’s treatment of American Economic History is very popular, as is Professor  [Arthur Robert] Burns’s course in modern capitalism. A course in Modern European Economic History, from the breakdown of Feudalism, would be very well received in addition, although the Burns course could be expanded to fill this need.

There is dissatisfaction with the existing Seminar. Auspices that would concentrate more closely on the material are rather widely held to be desirable. Professor [Archibald Herbert] Stockder’s seminar might fill this gap were it admitted to graduate economics standing. A suggestion for procedure should this prove impossible is included under “Catalog” below.

4) Labor. This may be discussed under two heads, a) Offering for the student specializing elsewhere, and b) Specialization in Labor Economics.

a) A General Survey Course in Labor Economics under capable, sympathetic auspices will be subject to very wide demand. Students whose major interest is elsewhere seem to feel quite generally that so important a branch of economics should not be left blank in their education. A large demand will also be forthcoming from first-year students who have not previously studied labor, either at all or adequately, whether or not they intend to specialize here. Such a course is of necessity a large lecture type, and requires in its instructor the specific technique relevant.

A counter-suggestion by the Faculty is that Professor [Leo] Wolman expand the subject-matter of his course. A very wide and almost unopposed sector of student feeling would prefer bringing in an outsider more cordial to the material and more tolerant of the viewpoints and questions of the members of the class.

b) A Seminar in Labor Relations for the specialist would find many applicants. Student desires as to the auspices are in agreement with the above comments. No university adequately specializes in training labor economists, and it is suggested that Columbia might consider filling this more than local gap.

5) Public Economic Policy. It is safe to day that no subject arouses wider interest among students. At present, public policy is dealt with piecemeal among the several courses, with by no means all the most important aspects being covered at all. (The most thoroughly considered section is monetary policy, both existing and proposed.) It is submitted that this is an important need which Columbia is well fitted to meet without much extra trouble.

Suggestions on this score represent the fusion of two streams of thought; a) The proposal of a joint seminar to explore specific areas of planning and policy, and to be conducted by academic experts in the various fields ([James Waterhouse] Angell, [James Cummings] Bonbright, [Arthur David] Gayer, [John Ewing] Orchard, [Arthur Whittier] Macmahon, [Robert Staughton] Lynd, etc.); b) The feeling that contact with people actually engaged in forming and executing public policy would provide a realistic knowledge of problems actually faced (economically, politically, administratively, etc.), as well  as valuable personal relations. The suggestion under (b) would involve the invitation to Columbia for one, several, or all meetings of the seminar such men as [Adolf Augustus, Jr.] Berle, [Mordecai] Ezekiel, [Lauchlin] Currie, [Rexford Guy] Tugwell, [Lewis?] Mumford, [Schuyler Crawford?] Wallace, etc. etc.

Experience with the more importation of outside lecturers, as is an instance in the Public Law Department, seems to show that a course so built lacks continuity and depth in grappling with such problems would be considered under (a) above.

Yet to define the benefits of (b) to the membership of a seminar of manageable size would be wasteful and otherwise undesirable. Two solutions have been advanced, which are not mutually exclusive. The first involves the holding of “public” and “private” meetings in the manner of the Banking Seminar. This could be assisted by co-operation with the Economics Club, that is, the visitors could partially be drained off into luncheon meetings. This solution suffers from several difficulties including the discontinuity of having each outsider only once. The second solution is embodied in the suggestion for Panel Seminars below.

Students would greatly like to co-operate in the organization of this seminar.

6) Agricultural Economics. While this is already a subject of inter-university [sic, “intra-university” is almost certainly meant here] specialization, a survey course is part of a rounded general offering.

7) Population. Students do not feel that this is ably handled. The suggestion has been made that Professor [Carter] Goodrich’s course in Internal Migration could be expanded to cover this, and also Regionalism (see under (8) below).

8) Economic Geography. The offering in the School of Business is excellent, and needs only to be given graduate economic status. See also under (7) above and “Catalogue” below.

9) Method and Techniques of Research. This includes a thousand little troublesome maters that each professor assumes that the student learns elsewhere. What are the Journals in economics and related fields? How do we keep up with current developments in economics? What are the basic sources in various branches? Where are all these things scattered in the library? How do we begin the investigation of a new topic? How do we prepare a bibliography? And many others.

The suggestions here fell under three heads. First, it is felt that a booklet answering the above and related questions would prove extremely helpful. Second, instructors should keep this need in mind, and clarify the portions of techniques and bibliography that fall in their sphere. Third, careful bibliographies already existing for various courses, and others that may arise, could be assembled and sold at cost.

10) Panel Seminar. This refers to a method of conducting seminars that shows promise of solving the dilemma of the unwieldiness of large numbers on the one hand, and the wastes of exclusiveness on the other. The discussion is conducted by a panel, consisting of one or more instructors and visitors and a carefully selected small group of students. Where student reports are to be presented, the selection is keyed to guaranteeing excellence and pointedness. An “audience” of students interested in the topic may ask occasional questions from the floor, but does not act to lower the tone of the discussion nor to encumber its progress. The “audience” may be regularly enrolled, receiving attendance credit, or may vary with the particular meeting’s content. Large and varying “audiences” are probably too much for this structure to carry.

It is felt that this method would meet the need in several situations. It should operate to raise the quality of the reports, doing away with the boredom and consequent loss of enthusiasm and tempo that so often assails large seminars now. But at the same time, it would avoid the narrow exclusiveness that operates to keep interested students from an organized study of subjects offered only in seminars.

The seating arrangements suggested by the above description seen rather stiff and stilted and disruptive. In point of fact, they are not a necessary corollary of this division of labor. Ordinary seminar seating can be used, the only requirement being that there is a staff of students who are considered capable, intelligible and interesting, and who do the reporting.

The panel seminar method is especially suggested for the discussion of public economic policy advocated in (5) above, where it le felt that side student interest would be aroused and should be encouraged.

11) Doctor’s Oral Examinations. Under existing conditions, orals engender a period of rather heavy strain in most students. This period is of the order of two weeks or so, and is not related to the quantity of work being done, but rather to the crisis quality of the examinations. No useful purpose is served by this strain, in fact it is generally considered a hindrance to efficiency.

The remedy seems to be a removal of some of the critical focus upon orals. This may be accomplished, with no loss of academic standards or relevant rigor, by the process of having the true examination take place informally with each of the professors involved before the formal oral is taken. The formal assembled examination then assumes the character of a more official formality, in which passing is nearly certain barring a strong reason to the contrary. This division between the investigation of proficiency and ability on the one hand, and the ceremonial opportunity to forbid the banns on the other, should not only relieve most of the strain on the candidate, but also afford the faculty a more intensive chance to satisfy itself as to the student’s competence.

There are some indications that the present situation approximates this suggestion more closely than appears on the surface. Insofar as this is true, all that is necessary is to let this true state of affairs become clear to the candidates. In any event, more could be done along these lines with benefit and relief to all concerned.

12) Training for Careers. It is Important periodically to review the types of career for which students in economics at Columbia are acquiring training, and at the same time to survey the curriculum with respect to the kind of training it chiefly affords. The student body is divided in proportions unknown at present [Footnote: One of the questions on this year’s questionnaire will be directed to this problem.] mainly among those preparing for teaching for research, and for government service. The curriculum is skewed in the direction of training research workers. This fundamental educational divergence is worth noting, and worth investigating in its effects upon the value of the Economics offering to the students.

Many of the curricular suggestions above are directed as much to the problem “what kind of work” as to the problem “research in what field”, and are worthy of reconsideration in this light.

13) Catalog. The arrangement of the catalog, and the standing given by it to various courses, can prove a powerful aid in broadening the area of endeavor for which preparation may be secured here, as well as filling many of the lesser holes mentioned above.

In regard to the standing given courses in other departments, particularly in the School of Business, the effort has been made above to mention fields in which benefit would accrue to Master’s candidates if Graduate Economics Standing were given to certain courses. Particularly does this apply to the offerings of [Paul Frederick] Brissenden, [Archibald Herbert] Stockder, perhaps Morgen, and to the advanced courses in Economic Geography. Where this is not feasible, something can be done by way of the advisory committee, see below.

Positive encouragement rather than permission can be given to students to broaden the scope of their studies if the catalog, or if necessary a separate printed or mimeographed announcement, would list as fully as possible all courses in related fields, or isolated courses of interest, that would be profitable to economists. In this way many gaps that the Economics Department cannot hope to fill itself would be plugged, and the benefits of intra-University division of labor would be received.

14) Advisory Committee. This has proved itself useful this year, and should certainly be continued. Its mention here is in connection with the potentialities of cooperation between it and the administration and faculty.

Many of the suggestions in these notes that may prove impossible of fulfillment, particularly those which come together under “Catalog”, may be aided by the unofficial action of the Advisory Committee. If the committee is in possession of information concerning related courses, for instance, then even in the absence of official action the broadening of courses of study can be advanced. In this and many similar cases, the worthwhileness of the Department to new students can be increased.

Source: Columbia University Libraries Manuscript Collections, Columbiana. Department of Economics Collection, Box 1, Folder “Committee on Instruction”.

Image Source: Alma Mater, Columbia University. Columbia College Today, Winter 2017-18.

Categories
Economists Harvard Teaching Undergraduate

Harvard. Annual Economics Newsletter. 1 June 1960

This three page departmental newsletter for Harvard economics from the end of the academic year 1959-60 is found in Edward H. Chamberlin papers curated at the Economists’ Papers Archive at Duke University. Among other things we learn from this newsletter is that a year’s course “Mathematics for Economists” was able to satisfy the foreign language requirement, or expressed differently, the punishment for receiving a grade less than B in the first semester of the math course was being required to pass a rigorous foreign language examination. 

Of course, finding this I wonder where I can find the first four issues of the Harvard Economics Newsletter.

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ECONOMICS NEWSLETTER
Fifth Annual Issue, June 1, 1960

UNDERGRADUATE INSTRUCTION:

The Department has been engaged in a study of its undergraduate curriculum over the past year and has now adopted a substantial series of changes in concentration requirements and, more particularly, in the undergraduate course offerings. The basic principles underlying the revisions were set out in a report of the Committee on Undergraduate Instruction under the chairmanship of Professor John Dunlop. These principles, briefly, were that the undergraduate program is “part of a liberal education” and, except in very special cases, is “not designed as professional training in Economics”; that the undergraduate program should be “clearly differentiated” from the graduate program; that the undergraduate should have as much flexibility as possible in choosing courses of interest to him; that close attention should be given to the teaching of Economics courses and to the balance of analytic and institutional material in each.

These principles clearly indicate a concern on the part of the Department that the undergraduate program may tend to become subordinate to the graduate program unless specific attention is paid to the particular interests and objectives of the younger student. The revisions, therefore, are in the direction of making a greater number of courses (particularly half-courses) open to undergraduates; breaking the traditional parallelism between graduate and undergraduate courses; and emphasizing historical, institutional and policy questions which will be of interest not only to the Economics concentrator but to able concentrators in other fields. To make certain that this greater freedom of choice does not lead to a lack of coherence, a certain “progression” has been introduced in the course offering and Honors candidates are required to take at least one “advanced” course in the area of their choice.

The sum total of these changes gives us a field of concentration which we believe will better serve the purposes of a liberal arts college. So far as undergraduate reaction is concerned, it will not be until the changes have gone into effect next year that we will be able to judge the response effectively. It is of interest, however, that the Crimson, not an altogether silent critic in the past, has called the new program a “model” which other departments might wisely study.

MATHEMATICS- LANGUAGE REQUIREMENT:

Realizing that mathematical competence is growing more important in most branches of economic work than linguistic ability, the Department has revised the language requirement in the following manner:

A full course entitled “Mathematics for Economists” has been established. All graduate students are now required to take and pass the first half of this course or pass an equivalent mathematics examination. Those who pass with at least a B may take the second half of the course, and no language will be required.

Those students who desire fluency in a foreign language or who receive a grade less than B in the first half of the mathematics course must complete the mathematics-language requirement by passing a rigorous language examination.

THE ECONOMICS OF HIGHER EDUCATION:

Professor Seymour E. Harris has been on leave this year on a Ford Fellowship, to complete the study of the Economics of Higher Education. He has visited more than 100 colleges and universities, and has submitted the following report for inclusion in this year’s Newsletter:

There were three resultant manuscripts:

  1. More Resources for Education (John Dewey Lecture), Harpers, 1960
  2. Economics and Educational Value. Edited volume based on seminar in 1958-59 for College Administrators. (Assisted by Richard Cooper and Reginald Green). Harvard University Press, 1960.
  3. Economics of Higher Education, McGraw-Hill Book Company, 1961.

A questionnaire sent to about 200 economists revealed attitudes towards higher education.  A considerable sentiment for:

    1. Higher tuition if accompanied by improved financing methods. But fear expressed of resultant excessive gains of enrollment for public institutions, increased recourse to colleges near home, a tendency to favor high income groups and endanger the position of many vulnerable private institutions.
    2. General agreement that much greater recourse to loans is practical. But some economists expressed dissatisfaction with the idea that young men and women should be encouraged to borrow. Furthermore, they are unaccustomed to seeking large credits.
    3. Economists generally envisaged the possibility of substantial economies — better use of plant, reduced number of courses, etc. But it was hoped that small discussion groups would not be eliminated.
PERSONNEL:

Professor Simon KUZNETS, now at Johns Hopkins, and Professor Hendrik HOUTHAKKER, now at Stanford, will join our staff next year.

Professor Otto ECKSTEIN has recently been promoted to Associate Professor of Economics. This fall he was in Washington, where he was Technical Director for the Douglas Committee investigating prices, wages, productivity, etc. Now he is in Europe working for the O.E.E.C. Professor GALBRAITH has been on leave in Switzerland for the spring term, working on a new book on corporation organization. Professor KAYSEN been working for Doxiadis Associates in Athens this year, making a study of Greek economy.

Professor James McKIE from Vanderbilt and Professor Henri THEIL from the Econometric Institute in the Netherlands have been visiting members of our staff this year.

Professor DUNLOP is President of the Industrial Relations Research Association for 1960. He has also been appointed to the President’s Committee investigating non-operating unions on the railroads.

Professor MASON has edited a book, Corporation and Modern Society. Professor DUESENBERRY has been working on his Capital Markets Project, supported by a grant from the Merrill Foundation to the Business School. Professor GERSCHENKRON’s Economic History Workshop, under a grant from the Ford Foundation, began operation in the fall of 1959.

Professor LEONTIEF gave three public lectures as Hitchcock Professor at the University of California in November 1959. Now he is in Argentina at the invitation of the University of Buenos Aires, where he is giving some lectures. He has been sent by ICA and will be there about two weeks. On the way back he will be stopping in Rio de Janeiro to give a lecture at the invitation of the Getulio Vergas Foundation.

Professor DORFMAN will be on leave next year, when he will be at the Center for Advanced Study in the Behavioral Sciences in Stanford, California.

The Department was saddened by the deaths of Professor SLICHTER in September 1959 and of Mrs. John H. WILLIAMS and Professor BLACK in April 1960.

Source: Economists’ Papers Archive, David M. Rubenstein Rare Book & Manuscript Library. Edward H. Chamberlin Papers, Box 17, Folder “Economics Department 1960-62”.

Image Source: “Overhead of empty Harvard Sq.” (1961) Cambridge Historical Commission, Cambridge Photo Morgue Collection. Digital Commonwealth, Massachusetts Collections Online.

Categories
Pedagogy Principles Teaching Undergraduate Yale

Yale. On different approaches to teaching college economics. Ruggles, 1964

Yale professor Richard Ruggles gave a great deal of thought to the organization of undergraduate and graduate instruction in economics. For a special issue of Challenge magazine dedicated to the question of improving economic literacy in society published in 1964, Ruggles contributed the following short essay on the difficulties of offering a single principles of economics course to meet the needs of very different publics compounded by the incentives that lead instructors to teach as though every student’s ultimate goal was to become an academic research economist. Plot-spoiler: one size does not fit all.

____________________________

On graduate training in economics.
Ruggles’ Yale conference, 1955.

During the fall and early winter of 1954-55, Richard Ruggles and colleagues in the Yale economics department organized a series of interviews with representatives of business, government, international organizations, and universities to review the ultimate goals of a graduate education in economics and to identify future desirable directions the evolution of economics training might take. The interviews were followed by panel discussions in the Spring of 1955 attended by, among others, seven future economics Nobel prize winners.

GRADUATE TRAINING IN ECONOMICS,
A Report on Panel Discussions at Yale, 1956
.

____________________________

TEACHING COLLEGE ECONOMICS
By Richard Ruggles

There is a wide divergence of opinion on what subject matter should be emphasized in the elementary college economics course. Some argue that its primary function should be to improve the student’s ability to be an intelligent citizen; others feel that the basic economics course should be handled as part of the general cultural background offered in a liberal arts college. A third view is that freshmen economics is basically a useful background subject for those entering business, law and engineering. And, finally, there are those who feel that introductory economics should be taught as a professional discipline. RICHARD RUGGLES, Professor of Economics at Yale University, examines the different approaches to the teaching of college economics, as well as the equally thorny problem of teaching materials.

The teaching of economics to college undergraduates is viewed with considerable uneasiness by both students and teachers. Many of the students find themselves in the difficult position of arbitrating between the ideas they hear in the classroom and those which are established doctrine in the minds of their parents. Others find the subject dull and uninspired, full of abstractions and generalizations which do not appear to match the reality around them. The teachers, on the other hand, are plagued by the multitude of purposes which the teaching of economics is supposed to serve. Disagreements among faculty members about the major purpose of economics teaching are often responsible for considerable acrimony.

First, there are those who believe that the primary function of economics training is to improve the student’s ability to function as a citizen and an individual. Proponents of this view point out that the level of economic literacy in the nation is very low. Neither voters nor legislators generally understand the basic problems involved in economic policy making. But, it is argued, if the next generation is properly trained, economic policy will improve. While the obvious irrationality of economic decision making at the national level propels many teachers of economics to concentrate on this aspect of economic education, others, who do not feel the frustration of economic events as acutely, place more emphasis on the individual aspects of economics training for citizenship. They may give priority to instruction which will help the student spend his money wisely, invest, and cope with financial problems he may encounter.

A second view of economic education considers economics as an integral part of the general education which should be given to all students attending a liberal arts college. The basic economics course is viewed as a cultural subject much like survey courses in literature, music, history and science. For such a purpose it is appropriate to paint with a broad brush, providing a survey course which is related to other subjects but also has its own individual stamp as a separate discipline. In the more extreme cases, economics may be submerged in a general course which treats the behavioral sciences as a group, or it may be combined with political science or history.

A third point of view presents the argument that economics is basically a tool subject, useful as a background for students who are intending to go into business, law or engineering. Economics in this role serves the same function as biology is supposed to serve for pre-med students. Economics is also viewed as useful for students in related disciplines such as history and political science. From this point of view, the major function of economics teaching is to provide needed service courses for students who are primarily concerned with other professions and disciplines. Emphasis is therefore placed on providing information on how the economy functions in terms of its institutions and government regulations. Finally, there are always a number of staff members who feel that economics should be kept pure and untainted. From this point of view, economics is a professional discipline with a body of rigorous theory which must be mastered if one is to enjoy the essence of the subject. Abstractions are not necessarily the means to this end; they are in large part the heart of the subject. Since the proponents of this view consider that it is the integrity of the discipline which is at stake, they often put up strong resistance to the service concept of economics, and even object to the presentation of institutional material or to any orientation of an applied nature. Instead attention is focused on the type of material which a Ph.D. candidate in economics is expected to master.

The content of economics as taught to undergraduates reflects these divergent objectives. The major exposure of college students to economics comes, of course, in the basic elementary course. Typically, 50 to 75 per cent of undergraduates take the elementary course in economics. No more than 10 to 15 per cent of these become economics majors. And no more than two to three per cent of economics majors go on to graduate training in economics. Thus the number of potential professional economists is a very minute percentage of those taking the elementary course, yet in many ways at many institutions the course is created for these few. At the major universities which offer graduate training in economics, the elementary course is often taught by graduate assistants. These graduate assistants are aspiring to be professional economists, and they have a tendency to wish that their students shared these aspirations. In fact, the pride and joy of a teacher is a student who wishes to be just like that teacher, and in a profession where theory, abstraction and a high degree of specialization are status symbols, the results for the teaching curriculum are obvious. The energy and enthusiasm of graduate assistants is often very great, and they are anxious to impart to the students the full kit of abstract tools which they themselves have so recently mastered. The course must also serve all the other purposes.

It must present a wide range of contemporary economic policy issues and information about major economic institutions. It must provide a comprehensive survey of economics for that large body of undergraduates who will never take any more courses in the area. It must also equip the student who expects to major in the field of economics with the tools he will need for more advanced courses. In most institutions the elementary course is a prerequisite for all other courses in economics, and it is expected that higher level courses will build on the foundation of the elementary course. The result of all of these pressures is to produce a jumbled polyglot of topics which are jammed into an incredibly short span of time. The major benefactors of these basic courses are those who teach them, since they are forced to master and digest an enormous amount of material before they can present it. In fact, a graduate student’s training is not complete until he has taught the elementary course.

At institutions which do not have graduate students, elementary economics may be quite a different subject. The content of the course will depend a great deal upon the individual teacher. Where the course is taught by someone just out of graduate school, he will tend to behave like his recent colleagues, the graduate assistants, and in these cases he will face many of the same problems. In some institutions, however, the course may revolve around such practical matters as how the stock market operates and the problems of family finance. In other instances, the elementary course may be a propaganda piece on how well the free enterprise system operates and how all problems would be solved if we left everything to the invisible hand as described by Adam Smith.

Economics courses beyond the elementary level at almost all schools are generally considered the domain of senior faculty members, whether or not they are equipped to teach them. Every professor regards the course he teaches as his own private property and does not take kindly to suggestions by his colleagues. Rightly or wrongly, he considers himself the authority on the subject he teaches. If, for any reason, the course must be taught by someone else, as for instance when the regular teacher goes on leave, it is usually found that the same course differs considerably in scope, orientation and content.

Thus, for example, a course on money and banking taught by one instructor may cover a body of material on banking institutions, banking practices, problems of credit, and the money supply. Another instructor teaching the same course may disregard such material entirely and cover instead problems of employment, prices and output, with heavy accent on fiscal policy and income analysis. As a result, it is often necessary to supply the name of the instructor as well as the name of the course in order to understand what training a student has had.

Teaching materials probably play an even more important role in economic education than do teachers. Many students can educate themselves if they are assigned good texts and readings, even though their teachers are mediocre or poor, but it is difficult for even the best teacher to provide a good course in the absence of good teaching materials.

Unfortunately, teaching materials are normally produced as a by product of academic life, with a mere fraction of the total resources devoted to the educational process. In a course of 20 or 30 students, instructional costs amount to about $100 to $200 per student, but the total cost of teaching materials will rarely be more than $10 to $20 — and most of that goes to the paper and printing industries, not to the more intellectual factors of production. Authors usually receive 10 to 15 per cent of the total amount spent on teaching materials, or approximately one per cent of the total teaching cost for the course as a whole. The preparation of teaching materials, furthermore, is never considered a full-time job. There is a mass of material produced, but most of it is developed on the side a kind of moonlighting activity. The fact that textbook writing often attracts the best talent in the profession is due to the existence of relatively high returns for those few who can turn out successful texts. But even the best talents could do a much better job if textbook writing were not just a spare-time activity.

Textbooks, like platforms of political parties try to be all things to all people. They are designed to cover a multitude of purposes, and try to echo the most widely accepted doctrines in a manner that will offend no one. Teachers are supposed to pick and choose what they want to use, rearranging and adding. The resulting mixture is often an ill-adapted set of disjointed and heterogeneous readings, and much of the potentiality for a consistent and cumulative body of teaching material is lost. In some fields, notably physics and mathematics, there are indications that the profession is sufficiently concerned about this problem to provide an organized effort to improve the quality of teaching materials. In economics, however, the development of teaching materials still depends upon the invisible hand.

It is quite possible that a different mix of the factors of production and some innovations in the teaching process could be introduced which would greatly improve teaching effectiveness and provide a greater feedback in terms of the advancement of the subject itself. At the present time, it is not feasible for textbook writers to undertake major efforts to fill in gaps in knowledge. Economics texts rely heavily on causal empiricism and reasoning by analogy; their major effort is devoted to organizing and presenting existing knowledge. But the preparation of good teaching materials should involve devoting substantial resources to those problem areas to which adequate attention has not yet been given.

The dynamic factors which economics relies upon to explain productivity growth in other sectors of the economy, such as specialization, division of labor and the development of new techniques, are all sadly lacking in the preparation of the discipline’s own teaching materials, and production is essentially still a handicraft process.

There is no obvious solution to this problem, but one thing is certain: the present industrial organization of the teaching profession does not readily foster the kinds of approaches which are capable of yielding a solution.

It is very difficult to evaluate the impact of college level economics courses. In terms of the prevailing views on major economic policies, it would appear that the economic and political temper of the times is a more important factor than the level of intellectual enlightenment. A recession accompanied by substantial unemployment or a major threat to a nation’s security will be quite effective in making both voters and legislators doubt the validity and meaningfulness of traditional balanced budget precepts. But in a prosperous peacetime economy, these doubts evaporate, and college graduates who once were exposed to economics but who are now a part of the business community echo the “sound” doctrines around them, despite the fact that such doctrines would result in slower growth, smaller profits and future recessions.

Despite the obvious shortcomings of confused objectives and inadequate resources devoted to the preparation of teaching materials, economic education nevertheless does progress. Much of this progress is due to the development of the subject itself. From this point of view the future holds considerable promise.

With the introduction of electronic data processing and the development of statistical techniques, economists are now able to formulate and test hypotheses in a manner which has not heretofore been possible. Up to now economics has been an armchair discipline, depending mainly on logical reasoning and causal empiricism. Perhaps in the near future it can evolve into the social science it claims to be. Then and only then can the teaching of economics reach its true potential.

Source: U.S. Congress. Joint Economic Committee. Subcommittee on Economic Progress. Economic Education: Hearings before the Subcommittee on Economic Progress of the Joint Economic Committee Congress of the United States vol. 2, Selected Materials (1967),pp. 231-234. Originally published in Challenge (Special Issue “Economic Literacy in a Free Society”, March 1964).

Image Source:  Richard Ruggles, noted economic statistician, diesYale Bulletin & Calendar Vol. 29, No. 23 (March 23, 2001). Image smoothed using AI.

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Harvard Suggested Reading Syllabus Teaching Undergraduate

Harvard. Junior Year Seminar/Tutorial Reading Assignments. Caves, 1964-1965

The evolution of the Harvard tutorial system as an integral aspect of its undergraduate economics program is a subject worthy of a long essay. For now we simply add the following snapshot of the “Tutorial for Credit, Junior Year” that Richard Caves had been tasked to reform when he joined the Harvard faculty in the 1962-63 academic year. This post provides the reading lists for the third iteration of Caves’ seminar/tutorial model that replaced the earlier lecture/tutorial model.

As far as content goes, the 1964-65 version of Economics 98 can be seen to have attempted an ambitious, advanced intermediate coverage of mainstream micro- and macroeconomics.

Harvard’s Memorial Minute for Richard Earl Caves (1931-2019).

____________________________

Course Announcement

*Economics 98a. Tutorial for Credit — Junior Year

Half course (fall term). Tu., 2-4, and tutorial meetings to be arranged. Professor Caves, Assistant Professor T. A. Wilson, Dr. Brunt and other Members of the Department.

*Economics 98b. Tutorial for Credit — Junior Year

Half course (spring term). Tu., 2-4, and tutorial meetings to be arranged. Professor Caves, Assistant Professor T. A. Wilson, Dr. Brunt and other Members of the Department.

Economics 98a will deal with micro-economic and 98b with macro-economic theories and policies. These seminars will serve as preparation for more specialized training in their subject matter in Group IV graduate and undergraduate courses. Economics 98a and 98b are required of all honors candidates and are open to non-honors candidates with the permission of the instructor.

The courses will consist of both seminar and tutorial, normally with one seminar and one tutorial session a week.

Source: Harvard University, Faculty of Arts and Sciences. Courses of Instruction for Harvard and Radcliffe, 1964-1965, p. 106.

____________________________

Harvard Crimson Article on the New Junior Seminars
May 16, 1962

Ec. 98 Will Be Taught in Small Seminar Units
Lecture Format Found Unwieldy

By Richard B. Ruge

The Economics Department announced yesterday that four seminar-groups of approximately 20 students each will replace the once weekly lectures in Ec. 98, or tutorial for credit, and that an associate professor at the University of California has been appointed to head the new junior tutorial program.

John T. Dunlop, chairman of the Department, said that increased enrollment in 98 had made lecture presentation of the subject matter — the central core of economic concepts — ineffective. Since Gill Plan opened tutorial for credit all concentrators, the number of students in the course has jumped to 80.

Dunlop declared that the use of two-hour, smaller seminar discussion groups meeting once a week is “more properly the spirit of tutorial, will improve a level of instruction, and will allow the students and professors to develop their own interests more thoroughly and participate in good give-and-take discussions.”

The seminars will split into smaller groups of four of five students, meeting once a week for 90 minutes to present and discuss papers. These groups will focus on the major aspect of economic thought considered in the larger seminars.

Caves to Head Program

Heading the program will be [Richard] Caves, who will become professor of economics on July 1. An expert on industrial organization, Caves worked on a new foreign trade program as deputy special assistant to the President in 1961. He received his M.A. and Ph.D. from Harvard before joining the faculty at California.

Source: The Harvard Crimson, May 16, 1962.

____________________________

Tutorial Assignments for Ec 98a Fall 1964

Harvard University
Department of Economics

Economics 98a
List of Suggested Tutorial Assignments
August 17, 1964

This list includes items which tutors may find helpful as assignments for discussion in tutorial sections, bases for small projects or papers, and the like. Many but not all have been used successfully for these purposes in the past. A few items contain mathematical or statistical complexities that make them suitable only for students with special backgrounds. Make sure that you check any item before using it.

If time permits, a more complete list will be prepared and issued at the beginning of the semester. Suggestions for additions from the tutors would be appreciated, as would reports of adverse experiences with any of the following items.

R.E.C.

  1. Consumer behavior [sic, “1. Introduction” not included here]

Becker, Gary S., “Irrational Behavior and Economic Theory,” Journal of Political Economy, February, 1962, 1-13

Houthakker, H.S., “An International Comparison of Household Expenditure Patterns, Commemorating the Centenary of Engel’s Law,” Econometrica October, 1957, 532-551

U.S. Department of Agriculture, Technical Bulletins on Demand Analysis, No. 1253 (meat), 1168 (dairy products), 1136 (wheat)

Alchian, A., “The Meaning of Utility Measurement,” American Economic Review, March, 1953, 26-50

Ellsberg, D., “Classic and Current Notions of Messurable Utility,” Economic Journal, September, 1954, 528-556

Friedman, M., and L.J,. Savage, “The Utility Analysis of Choices Involving Risk,” Am. Econ. Assn., Readings in Price Theory, chap. 3

  1. Theory of the firm

Hirshleifer, J., “An Exposition of the Equilibrium of the Firm: Symmetry between Product and Factor Analyses,” Economica, August, 1962, 263-268

Scott, R.H., “Inferior Factors of Production,” Quarterly Journal of Economics, February, 1962, 86-97

Apel, H., “Marginal Cost Constancy and Its Implications,” American Economic Review, December, 1948, 870-886

Hitch, C.J., and R.N. McKean, The Economics of Defense in the Nuclear Age, chaps. 7, 8

Cookenboo, Leslie, Jr., Crude Oil Pipe Lines and Competition in the Oil Industry, chap. 1

F.T. Moore, “Economies of Scale: Some Statistical Evidence,” Quarterly Journal of Economics, May, 1959, 232-245; also discussion August, 1960, 493-499

Alexander, Sidney, “The Effect of Size of Manufacturing Corporation on the Distribution of the Rate of Return,” Review of Economics and Statistics, August, 1949, 229-235

Johnston, J., Statistical Cost Analysis, chap. 4 (secs, 1, 3, 4); chap. 5; chap. 6 (pp. 186-194)

Staehle, Hans, “Measurement of Statistical Cost Functions,” American Economic Review, June, 1942; Readings in Price Theory, chap. 13

Eiteman, W.J., and G.E. Guthrie, “The Shape of the Average Cost Curve,” American Economic Review, December, 1952, 832-839

Hall and Hitch, “Price Theory and Business Behavior,” in T. Wilson, ed., Oxford Studies in the Price Mechanism

Earley, J.S., “Recent Developments in Cost Accounting and the ‘Marginal Analysis’,” Journal of Political Economy, June, 1955, 227-242

Earley, J.S., “Marginal Policies of ‘Excellently Managed Companies,” American Economic Review, March, 1956, 44-70

Grayson, C.J., Decisions under Uncertainty, pp. 233-278

  1. Competitive product and factor markets

Vernon L. Smith, “An Experimental Study of Competitive Market Behavior,” Journal of Political Economy, April, 1962, 111-137

Ezekiel, M., “The Cobweb Theorem,” Am, Econ, Assn., Readings in Business Cycle Theory, chap. 21

Richardson, G.B., Information and Investment.

Friedman, M., Price Theory: A Provisional Text, chaps, 7-9

Lester, R.A., and Machlup, F., marginalist controversy, reprinted in R.V. Clemence, ed., Readings in Economic Analysis, Vol. 2, chaps, 6-9

Bachmura, F.T., “Man-Land Equalization through Migration,” American Economic Review, December, 1959, 1004-1017

  1. General equilibrium and welfare

Stone, Richard, and G. Croft-Murray, Social Accounting and Economic Models, chaps. 1-3

Lange, Oscar, On the Economic Theory of Socialism, B. Lippincott, ed.

Hirshleifer, J. et al., Water Supply: Economics, Technology, and Policy, chap. 8

Nelson, J.R., ed., Marginal Cost Pricing in Practice, chaps. 1, 2, 3, 5 (skip pp. 110-123), 6, 7

  1. Imperfect competition: product markets
    1. Monopoly

Neale, Walter C., “The Peculiar Economics of Professional Sports,” Quarterly Journal of Economics, February, 1964, 1-14

Olson, M., and D. McFarland, “The Restoration of Pure Monopoly and the Concept of the Industry,” Quarterly Journal of Economics, November, 1962, 613-631

Wallace, D.H., Market Control in the Aluminum Industry, Part II

Davidson, R.K., Price Discrimination in Selling Gas and Electricity

    1. Monopolistic competition

Stigler, G.J., Five Lectures on Economic Problems, Lecture 2

Chamberlin, E.H., Towards a More General Theory of Value, chap. 15

    1. Oligopoly

Peck, M.J., Competition in the Aluminum Industry, 1945-1948

Markham, J., Competition in the Rayon Industry

Weiss, L.W., Economics and American Industry, chaps, 7, 8

Modigilani, F., “New Developments on the Oligopoly Front,” Journal of Political Economy, June, 1958, 215-232

Shubik, M., “A Game Theorist Looks at the Antitrust Laws and the Automobile Industry,” Stanford Law Review, July, 1956

Marris, Robin, “A Model of the ‘Managerial’ Enterprise,” Quarterly Journal of Economics, May, 1963, 185-209

  1. Imperfect, competition: factor markets

Fellner, W.J., “Prices and Wages under Bilateral Monopoly,” Quarterly Journal of Economics, August, 1947, 503-532

Segal, Martin, “The Relation between Union Wage Impact and Market Structure,” Quarterly Journal of Economics, February, 1964, 115-128

*  *  *  *  *  *  *  *  *  *  *  *

Harvard University
Department of Economics

DRAFT Reading List
Economics 98a
Fall Term, 1964

Students will be requested to purchase W.J.L. Ryan, Price Theory (London: Macmillan, 1958). Seminars may vary in the extent that they depend on Ryan for the basic exposition of micro theory. The following list assumes complete dependence on Ryan. Other readings are very tentatively included, and the list probably errs on the side of containing too much.

  1. Introduction

Lange, Oscar, “The Scope and Method of Economics,” in Arleigh P. Hess et al., Outside Readings in Economics, pp. 1-20

Knight, Frank, The Economic Organization, pp. 3-66

    1. Consumer behavior

Ryan, chaps. 1, 6

Alfred Marshall, Principles of Economics, Book III (or a textbook treatment of utility theory, such as D.S. Watson, Price Theory and Its Uses, chaps 4, 5)

One of the following:

Duesenberry, James S., Income. Saving and the Theory of Consumer Behavior, pp. 6-39

Leibenstein, H., “Bandwagon, Snob, and Veblen Effects In the Theory of Consumers’ Demand,” Quarterly Journal of Economics, May, 1950, 183-207

Frisch, Ragnar, “Some Basic Principles of Cost of Living Measurements,” Econometrica, October, 1954, 407-421

Fisher, Irving, The Theory of Interest, pp. 61-124.

  1. Theory of the firm

Ryan, chaps. 2, 3

Chamberlin, E.H., The Theory of Monopolistic Competition, Appendix B

Dean, Joel, Managerial Economics, pp. 257-313

Universities—National Bureau Committee for Economic Research, Business Concentration and Price Policy, pp. 213-238

Cyert, R.M., and J.G. March, A Behavioral Theory of the Firm, pp. 4-21, 26-43

Bierman, Harold, and S. Smidt, The Capital Budgeting Decision, chaps, 1-6, 9

  1. Competitive product and factor markets

Ryan, Chap, 4

Chamberlin, chap. 2

Marshall, Book V, chaps. 1-5; Book IV, chap. 13

Working, E.J., “What Do Statistical Demand Curves Show?”, in American Economic Association, Readings in Price Theory, chap. 4

Robinson, Joan, “Rising Supply Price,” Readings in Price Theory, pp. 233-241

    1. General equilibrium and welfare

Ryan, chap. 9

Boulding, Kenneth, “Welfare Economics,” in B.F. Haley, ed, for American

Economic Association, A Survey of Contemporary Economics, pp. 1-34

Bator, Francis M., “The Simple Analytics of Welfare Maximization,” American Economic Review,March, 1957, 22-44 (omit 44-59)

Scitovsky, Tibor, “Two Concepts of External Economies,” Journal of Political Economy, April, 1954, 143-151

McKean, R.N., Efficiency In Government through Systems Analysis, chaps, 1-5 (or something else on benefit-cost analysis)

  1. Imperfect competition: Product markets

Ryan, chap. 9

    1. Monopoly

Ryan, chap. 10

Bain, Joe S., Price Theory, pp. 208-247

Weiss, L.W., Economics and American Industry, chap. 5

    1. Monopolistic competition

Chamberlin, chaps. 1, 4, 5

Triffin, Robert, Monopolistic Competition and General Equilibrium Theory, pp. 78-89

Weiss, chap. 9

    1. Oligopoly

Ryan, chap. 11

Fellner, William, Competition Among the Few, chap. 1

Sweezy, Paul, “Demand under Conditions of Oligopoly,” Readings in Price Theory, chap. 20

Bain, pp. 297-332

Duesenberry, James S., Business Cycles and Economic Growth, chap. 6

Baumol, W.J., Business Behavior, Value, and Growth, pp. 27-32, 45-46

  1. Imperfect competition: factor markers

Chamberlin, chap. 8

Dunlop, John T., “Wage Policies of Trade Unions,” American Economic Association, Readings in the Theory of Income Distribution, chap. 19

Cartter, A.M., Theory of Wages and Employment, chaps. 7, 8

Friedman, Milton, “Some Comments on the Significance of Labor Unions for Economic Policy,” The Impact of the Union, D. McC. Wright, ed., pp 204-234

____________________________

Tutorial Assignments for Ec 98b Spring 1965

HARVARD UNIVERSITY
Department of Economics

Economics 98b
Reading List
Spring Term, 1965

All selections listed below should be considered as assigned, although the leaders of Individual seminars may choose either to add or subtract items. Students may wish to purchase Gardner Ackley, Macroeconomic Theory (New York: Macmillan, 1961), which will be assigned in part, especially at the beginning of the semester, and will serve as a general reference for issues which arise during the course. R.C.O. Matthews, The Business Cycle, will also be used extensively.

  1. Introduction of macro-economics (two weeks)
    1. The national income

Gardner Ackley, Macroeconomic Theory, chaps. 1-4.

U.S. Department of Commerce, Survey of Current Business, July, 1964, pp. 7-40.

S. Rosen, National Income, pp. 172-187.

    1. Prices and employment: pre-Keynesian background

Ackley, pp. 105-167.

  1. Income and employment determination (seven weeks)
    1. Effective demand

J.M. Keynes, The General Theory of Employment, Interest and Money, chaps. 1, 2.

A.H. Hansen, A Guide to Keynes, pp. 25-35.

P. Wells, “Aggregate Demand and Supply: An Explanation of Chapter III of the General Theory,” Canadian Journal of Economics and Political Science, XXVIII (Nov., 1962), pp. 585-59.

    1. Consumption function and the multiplier

Hansen, A Guide to Keynes, pp. 67-85.

J.S. Duesenberry, Income, Saving and the Theory of Consumer Behavior, chaps. 3, 5,

J. Tobin, “Relative Income, Absolute Income, and Saving,” Money, Trade and Economic Growth: Essays in Honor of J.H. Williams, pp. 135-156.

M. Friedman, A Theory of the Consumption Function, 220-229, 233-239.

Ackley, chap. 10.

Hansen, A Guide to Keynes, pp. 86-114.

A.H. Hansen, Business Cycles and National Income, chap. 12.

W.J. Baumol and M.H. Peston, “More on the Multiplier Effects of a Balanced Budget,” American Economic Review, XLV (March, 1955), 140-148.

    1. Investment

Keynes, chap. 11.

Hansen, Business Cycles and National Income, chap. 9.

J.M. Clark, “Business Acceleration and the Law of Demand: A Technical Factor in Economic Cycles,” in American Economic Association, Readings in Business Cycle Theory, chap, 11.

R.C.O. Matthews, The Business Cycle, , chaps. 3-5.

J.S. Duesenberry, Business Cycles and Economic Growth, chaps. 4, 5.

J.R. Meyer and R. Glauber, Investment Decisions, Economic Forecasting, and Public Policy, pp. 1-22.

    1. Interest

Keynes, pp. 165-185, 195-209.

Hansen, A Guide to Keynes, chap. 6.

L.R. Klein, The Keynesian Revolution, pp. 117-123.

    1. The Keynesian system

Keynes, pp. 257-271.

H.G. Johnson, Money, Trade and Economic Growth, chap. 5.

V. L. Smith, “A Graphical Exposition of the Complete Keynesian System,” Southern Economic Journal, XXIII (October, 1956), 115-125.

Ackley, chap. 15.

D. Patinkin, “Keynesian Economics Rehabilitated: A Rejoinder,” Economic Journal, LXIV (Sept.,1959), pp. 582-587.

D. Patinkin, “Price Flexibility and Full Employment,” American Economic Association, Readings in Monetary Theory, pp. 252-283

A.P. Lerner, “Comment,” American Economic Review, LI (May, 1961), pp. 20-23.

  1. Models of growth, fluctuations, and inflation (three weeks)
    1. Economic growth and fluctuations

Duesenberry, Business Cycles and Economic Growth, chap, 2.

W.J. Baumol, Economic Dynamics, chaps. 2, 3.

Hansen, Business Cycles and National Income, chap. 11.

D.B. Suits, “Forecasting and Analysis with an Econometric Model,” American Economic Review, LII (March, 1962), 104-132 (pp. 118-31 optional).

Matthews, chaps. 2, 13.

    1. Inflation

A.C.L. Day and S.T. Beza, Money and Income, chaps. 19-21.

Keynes, pp. 292-304.

M. Friedman, “Some Comments on the Significance of Labor Unions in Economic Policy,” Impact of the Union, D. McC. Wright, ed., 204-234.

S. Slichter, “Do the Wage-Fixing Arrangements in the American Labor Market Have an Inflationary Bias?” American Economic Review, XLIV (May, 1954), pp. 322-346.

C. Schultze, Recent Inflation in the United States (Study paper No. 1, Employment, Growth and Price Levels), pp. 1-77. Joint Economic Committee

O. Eckstein and T.A. Wilson, “Determination of Money Wages in American Industry,” Quarterly Journal of Economics, LXXVI (August, 1962), 379-409.

    1. Coordinating Policy for Growth and Stability

J. Tinbergen, Economic Policy: Principles and Design, pp. 1-37.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 8, Folder “Economics 1964-1965 (1 of 2)”.

Image Source: Harvard Square, 1961. From the Cambridge Historical Commission, image in the Photo Morgue Collection. Online: Digital Commonwealth.

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Cornell Dartmouth Economists Harvard Michigan Teaching Undergraduate

Harvard. Recitation section work described. Day, 1914

About 110 years ago the structure of a common lecture and smaller recitation sections for large college courses was novel enough to warrant a description with explanation. The assistant professor of economics and statistician, Edmund Ezra Day (Harvard Ph.D., 1909) penned a two page article for the Harvard Illustrated Magazine that is transcribed following a brief overview of Day’s career. 

Day went on to professorships at Harvard and the University of Michigan followed by a detour through the Rockefeller Foundation that took him to the Presidency of Cornell University. Economics in the Rear-view Mirror begins this post with a chronology of Edmund Ezra Day’s life.

___________________________

Biographical Timeline

1883. Born December 7 to Ezra Alonzo and Louise Moulton (Nelson) Day at Manchester, New Hampshire.

1905. B.S., Dartmouth College (Phi Beta Kappa).

1906. A.M., Dartmouth College.

1906-10. Instructor of economics, Dartmouth College.

1909. Ph.D., Harvard University. Thesis: “The History of the General Property Tax in Massachusetts.”

1910-20. Assistant professor of economics, Harvard University.

1912. Married June 5 to Emily Sophia Emerson (daughter of Dean Charles F. Emerson of Dartmouth College). Two sons and two daughters.

1915. Questions on the Principles of Economics (with Joseph Stancliffe Davis). New York: Macmillan.

1918. Seven months as statistician of the division of planning and statistics of the U. S. shipping board. Director, in 1919.

1918. September to December 1918 as statistician of the central bureau of planning and statistics of the war industries board.

1920-23. Professor of economics, Harvard University.

1920. “An Index of the Physical Volume of Production”. The Review of Economic Statistics (September 1920—January 1921).

1922. Revised edition of Questions on the Principles of Economics (with Joseph Stancliffe Davis). New York: Macmillan.

1920-23. Chairman of the department of economics.

1923-27. Professor of economics, University of Michigan. Beginning second semester of 1922-23 academic year)

1923-24. Chairman department of economics, University of Michigan.

1925. Statistical Analysis. New York: Macmillan.

1924-28. Founding dean of the school of business administration, University of Michigan. (leave of absence during 1927-28).

1927. Dean of Administration, University of Michigan.

1927. President of the American Statistical Association.

1927-28. Leave of absence to act as administrative head of Laura Spelman Rockefeller Memorial for the promotion of social sciences in New York City.

1928. The Growth of Manufactures, 1899 to 1923. A Study of Indexes of Increase in the Volume of Manufactured Products (with Woodlief Thomas). Census Monographs VIII. Washington, D.C.: USGPO.

1928-37. Director for the social sciences of the Rockefeller Foundation.

1930-37. Director for general education and for the social sciences with the General Education Board.

1932-33. U.S. representative on the preparatory commission of experts for the economic conference, held in London in 1933.

1937-49. President of Cornell University.

1941. The Defense of Freedom: Four Addresses on the Present Crisis in American Democracy. Ithaca, N.Y.: Cornell University Press.

1941 or 1942. Oncoming Changes in the Organization of American Public Education.  By Edmund E. Day, Chairman of the Committee on Teacher Education of the Association of Colleges and Universities of the State of New York.

1949-50. Chancellor, Cornell University.

1951. March 23. Died from a heart attack.

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Other misc. facts: Edmund Ezra Day was president of the New York State Citizens Council, the Association of Land-Grant Colleges and Universities, the World Student Service Fund; he was chairman of the American Council on Education, director of the National Bureau of Economic Research, director of the Federal Reserve Bank of New York (appointed January 1937), Councillor of the National Industrial Conference Board, and a trustee of Tuskegee institute beginning 1939. He held fifteen honorary degrees.

Sources:

  • Memorial minute. Cornell, 1951.
  • Ithaca Journal, March 23, 1951. p. 1. “Dr. Day, President Emeritus of Cornell, Dies at 67 of heart Attack in his Car.”
  • The National Cyclopedia of American Biography, 1942.

___________________________

Section Work in Economics

EDMUND E. DAY, ’09, Assistant Professor in Economics.

Among the methods of undergraduate instruction, the section-meeting is of large importance. By the section-meeting is meant an exercise attended by only a fraction of the men enrolled in the course. Usually it stands combined in varying proportions with the lecture. Usually, too, it is not in charge of the instructor “giving the course” (sic), but rather of an assistant. But neither of these common features is essential to the section idea.

The most important single question raised by the section method is: What is its purpose? Undoubtedly the section may, and does, serve many ends. It clearly is valuable in the grading of undergraduate work. It is in this rôle that, in many courses, the section is really significant. Such are the cases in which one-half of the only section-hour each week is devoted to a written test, and the balance of the hour to remarks by the assistant. But the section may certainly be made more than an adjunct to the College Office. Obviously, the section-meeting fosters that familiarity between student and instructor which should invariably exert a wholesome influence; serving the same purpose in undergraduate instruction that publicity does in politics.

Furthermore, in many courses the section-meeting offers the only opportunity for open discussion, for a free give and take between instructor and instructed. Such discussion is the sine qua non of effective teaching in many, if not in most, subjects. It develops clear thinking, power in logical analysis, and effective speech. It stimulates that interest which encourages faithful work from day to day, instead of hasty cramming at examinations. In general, it makes for permanent intellectual power as against temporary mental acquisition.

Such being the opportunities of the section-meeting, by what organization and methods may they best be seized? The immediate interest of the student might seem to demand that the instructor in charge of the course should conduct its sections. But this would violate every rule of good economy. Professors of scholarly and scientific experience and reputation, while they would probably give section instruction better than most assistants, have a vastly greater advantage in the work they are at present doing. In the long run they best advance undergraduate instruction by delegating section work to the younger men. Nor is this so generally to the disadvantage of the section as is commonly supposed. As a rule, the young instructor of promise brings to his task a zest, a sympathetic knowledge of college ways and ideals, an appreciation of the difficulties of the beginner which the older man has long since lost. And after all, teaching ability is in large measure a gift which needs little polishing by experience, good teachers are just as rare among older men as among the younger.

Section instructors and students should be, as we have noted, on terms of familiarity. Therefore assistants should be selected with great care. Appointments in the past have perhaps too little emphasized the need of certain human qualities not weighted in the Ph.D. examination. The leaven of a little sympathy, of more good humor, and of still more downright fairness and good sense works wonders in raising the level of section instruction.

Grading seems an essential element in section work, but it should be reduced to a minimum. This does not mean that it should be confined to a written test. Some grading had best accompany work in discussion. This seems necessary to compel intelligent discussion. Too often discussion degenerates into what the undergraduate expressively calls “drool.” Upon the other hand, so-called discussion sometimes is narrowed into mere drill upon the text. The assistant must steer the difficult course between the two extremes. In this endeavor a reasonable amount of inconspicuous “policing” is desirable.

Spirited and stimulated discussion is, after all, the most significant aim of the section-meeting. This imposes responsibilities upon instructor and student alike. The instructor must be able to direct and control discussion, the student must contribute his share of thought and interest; together they coöperate to make section work a success. The test of the section work in any course lies in the quality of the discussion provoked.

The weaknesses of the section are such as to call for improvement, rather than abolition, of the method. Improvement is in large measure a question of money cost. Adequate outlay would probably guarantee section instructors satisfactory alike to students and department staffs. Sufficient outlay to secure assistants with a firm grasp of their subjects is absolutely essential. But some improvements probably are within reach without much additional cost. Thus, by careful provision for standardizing grading, we may reduce the risks involved in the assignment of different students to assistants in the same course but of different experience and temperament. The value of section work may be more generally recognized and upheld. Greater emphasis may be laid on teaching ability in selecting assistants. And finally, possibly in coöperation with the Education Department, assistants may be helped to acquire the gentle art of section work.

Other improvements of the section method will undoubtedly be suggested. But to give it up entirely seems unwise; the section has probably come to stay. It seems, for the present, an advisable concession to large-scale education.

Source: The Harvard Illustrated Magazine, Vol. 15, No. 6 (March 1914), 295-296.

Image Source: Edmund Ezra Day in Harvard Class Album 1915.

Categories
Columbia Economists Germany Popular Economics Princeton Teaching

New York City Schools. Essay on Economics and the High School Teacher of Economics. Tildsley, 1919

Every so often I make an effort to track down students whose names have been recorded in course lists. I do this in part to hone my genealogical skills but primarily to obtain a broader sense of the population obtaining advanced training in economics beyond the exclusive society of those who ultimately clear all the hurdles in order to be awarded the Ph.D. degree. This post began with a simple list of the participants in Professor Edwin R.A. Seligman’s seminar in political economy and finance at Columbia University in 1901-02 published in the annual presidential report for that year (p. 154).

 John L. Tildsley’s seminar topic was “Economic Aspects of Colonial Expansion.” I began to dig into finding out more about this Tildsley fellow, who was completely unknown to me other than for the distinction of having attended a graduate course in economics at Columbia but never having received an economics Ph.D. from the university.

It turns out that this B.A. and M.A. graduate from Princeton had indeed already been awarded a doctorate in economics from the Friedrichs Universität Halle-Wittenberg (Germany), renamed the Martin-Luther-Universität Halle-Wittenberg in 1933, before he took any coursework at Columbia. A link to his German language doctoral dissertation on the Chartist movement is provided below.

I also found out that John Lee Tildsley went on to a distinguished if controversial career [e.g., he had no qualms about firing teachers for expressing radical opinions in the classroom] in the top tier of educational administration for the public high-schools in New York City. No less a critical writer than Upton Sinclair aimed his words at Tildsley.

For the purposes of Economics in the Rear-View Mirror John L. Tildsley is of particular interest as someone who had done much to introduce economics into the curriculum of New York City public schools.

Following data on his life culled from Who’s Who in America and New York Times articles on the occasions of his retirement and death, I have included his March 1919 essay dedicated to economics and the economics teacher in New York City high schools. 

_________________________

Life and Career
of John Lee Tildsley

from Who’s Who in America, 1934

John Lee Tildsley, educator

Born in Pittsburgh, Pennsylvania, Mar. 13, 1867;
Son of John and Elizabeth (Withington) Tidsley;
Married Bertha Alice Watters, of New York City, June 24, 1896;
Children—Jane, John Lee, Margaret, Kathleen (deceased).

B.A., Princeton, 1893 [Classmate of A. Piatt Andrew], M.A. 1894;
Boudinot fellow in history, Princeton, 1893-94;
Teacher Greek and history, Lawrenceville (New Jersey) School, 1894-96;
Studied Universities of Halle and Berlin, 1896-98, Ph.D., Halle, 1898;
Teacher of history, Morris High School, New York City, 1898-1902;
Studied economics, Columbia, 1902;
Head of dept. of economics, High School of Commerce, 1902-08;
Principal of DeWitt Clinton High School, 1908-14;
Principal of High School of Commerce, 1914-16;
Associate Superintendent, Oct. 1916-July 1920;
District Superintendent, July 1920, City of New York.

Member: Headmasters’ Assn., Phi Beta Kappa.
Democrat.
Episcopalian.

Formulated and introduced into public schools of New York City, courses in economics and civics for secondary grades. Speaker and writer on teaching and problems of school administration.

Club: Nipnichsen.
Home: [2741 Edgehill Ave.] Spuyten Duyvil, [Bronx] New York.

Source: Who’s Who in America 1934, p. 2356.

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Tildsley’s 1898 doctoral dissertation on the Chartist movement (in German)

Tildsley, John L. Die Entstehung und die ökonomischen Grundsätze der Chartistenbewegung, Inaugural-Dissertation zur Erlangung der philosophischen Doktorwürde der hohen philosophischen Fakultät der vereinigten Friedrichs-Universität Halle-Wittenberg. Halle a.S. 1898.

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New York Times, September 2, 1937

Dr. John L. Tildsley, Associate Superintendent of Schools, retired on Sept. 1, 1937.

One of Dr. Tildsley’s pet ideas has been the formation of special schools for bright pupils. As a result of his efforts two such schools are to be established in this city, the first to be opened next February in Brooklyn.
‘This new school will develop independent habits of work on the part of the superior student,’ he has explained. ‘Special emphasis will be placed upon the development of social-mindedness.’

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New York Times, November 22, 1948

Dr. John L. Tildsley died November 21, 1948 in St. Luke’s Hospital, New York, N.Y.

In 1920, having fallen out of the graces of Mayor John F. Hylan because of a political speech, he was denied a second term as associate superintendent.
At the urging of many admirers, he was assigned to the position of assistant superintendent which he held until the Fusion Board of Education restored him to his former rank in the spring of 1937.
When Dr. Tildsley was demoted he refused to be silenced, constantly championing controversial causes. He attacked the ‘frontier thinkers’ of Teachers College, and charged that under the existing high school set up much waste resulted to the city and to the pupil.
He urged the development of ‘nonconformist’ pupils, and angered patriotic organizations by suggesting that patriotic songs and holidays have little value in the schools.
Born in Pittsburgh of British parents, Dr. Tildsley received his early education in schools in Lockport, N.Y., and at the Mount Hermon School. Instead of becoming a minister, as he originally had planned, he decided to study at Princeton University, where Woodrow Wilson was one of his instructors for three years.

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Tildsley became a target of Upton Sinclair’s critical pen for his campaign to regulate teachers’ opinions expressed in school

Upton Sinclair, The Goslings: A Study of the American Schools (1924). See Chapters XV (Honest Graft) and XVI (A Letter to Woodrow Wilson), XVII (An Arrangement of Little Bits).

Cf. Teachers’ Defense Fund. The Trial of the Three Suspended Teachers of the De Witt Clinton High School (1917).

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HISS TILDSLEY FOR PRAISE OF GERMANS
School Superintendent Aroused Criticism by Talk in Ascension Parish House.
LIKES TEUTON DISCIPLINE
When He Said Their Military Success Was a Credit to Them the Trouble Began.

The New York Times, December 10, 1917.

Dr. John L. Tildsley, Associate Superintendent of Schools in charge of high schools, whose investigation of the opinions of the teachers at the De Witt Clinton High School resulted in the suspension and trial of three of them and in the transfer of six others, was hissed last night in the parish house of the Church of the Ascension, Fifth Avenue and Eleventh Street, when he said that the success of the Germans in military affairs was a credit to them rather than a discredit, and that their “good qualities” ought not to be ignored even if “they happen to be our enemies.”

Dr. Tildsley was also denounced as a “Prussian by instinct and education,” because of his laudation of family life in Germany and because he asserted that it was desirable to have in this country more obedience instinctively to authority as exemplified by the obedience of the German child to its father. The denouncer was Adolph Benet, a lawyer, who said that Dr. Tildsley’s sojourn in Germany, where he studied at the University of Halle, caused him to misunderstand Germany.

“There is one thing that is bad in Germany,” declared Mr Benet. “That thing is unqualified and instinctive respect for authority. And Dr. Tildsley, after living in Germany and observing the country, would come here and try to introduce here the worst part of the whole German system. I say Dr. Tildsley is a Prussian by instinct and a Prussian by education. Why did he not say these things two months ago when many were denouncing a Judge who is now Mayor-elect?”

The stormy part of the evening took place in the parish house, where the audience repaired to ask questions after Dr. Tildsley delivered an address in the church on “Regulation of Opinion in the Schools.” The hissing of the speaker occurred during his explanation of his ideas on obedience. He explained the system of instinctive obedience to authority which marks all Germans, and then said: “German family life is magnificent, and we ought to emulate it.” Here the hissing began. A minute later it began again and grew in volume for about minute, when it stopped.

In reply to another question relating to his charges against teachers, Dr. Tildslev. said that teachers have too much protection in the schools, and that not a single high school teacher in nineteen years has been brought up on charges. In this connection he declared that when a teacher is brought up on charges the Board of Education is handicapped in the handling of the case because must accept such a lawyer as it gets from the Corporation Counsel while the teacher may get the cleverest lawyer that money can buy. This was taken by the high school teacher in the audience to mean that Dr. Tildsley was dissatisfied with handling of the trial against the three teachers by the Corporation Counsel.

In his formal address Dr. Tildsley said that the teachers who were tried and those who were transferred were not accused of disloyalty. Later. in the parish house. he said he believed they were all internationalists and doubted whether a teacher who had the spirit of internationalism had the spirit necessary to teach high school students.

He said the teachers he investigated held that unrestricted expression of opinion was the best means of developing good citizenship. With this point of view he said, he and others differed. He quoted one teacher as being a believer in Bertrand Russell and he read from one of Russell’s works a passage which said in substance that it did not matter what the teacher said but what he felt and that it was what he felt that reached the consciousness of the pupils. It was Dr. Tildsley’s belief that the opinions which the teachers hold are accepted by the pupils, even if they if they were unexpressed. Dr. Tildsley read the letter of Hyman Herman, the sixteen-year-old pupil whose composition was the basis for a charge against Samuel Schmalhauser one of the suspended teachers. In this letter President Wilson was denounced as a “murderer.” Dr. Tildsley said the teacher was in in no way responsible for the letter.

While the speaker said that the teachers loyal he investigated were not disloyal and declared their convictions were honest, he also said that though the nation had gone to war they were unable to subscribe to the decision of the majority. He divided the radical group among the teachers into three classes, those who believe in absolute and unrestrained expression by the students, those who are opposed to the war and do not believe in it, and a third class, born in Germany, , who cannot be blamed for feeling as they do about Germany. The last mentioned he declared, must not allow any of their feelings to escape into their teaching. He gave a clean bill oi health as to loyalty to all the teachers in the De Witt Clinton High School.

“A teacher is not an ordinary citizen who has the right to express his opinions freely,” continued Dr. Tildsley. “Every teacher always teaches himself, and if he has not the right ideas toward the Government he has no right to accept payment from the taxpayers. We make no claim that any of these teachers were consciously disloyal, but if because of this belief in unrestricted utterance they spread disloyalty they are not persons to be intrusted with the teaching of citizenship to students.”

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From the New York Times, November 5, 1918:

…the dismissal of Thomas Mufson, A. Henry Schneer, and Samuel D. Schmalhausen in the De Witt Clinton High School was upheld by Acting New York Commissioner of Education E. Thomas Finegan.

_________________________

ECONOMICS AND THE TEACHER OF ECONOMICS IN THE NEW YORK CITY HIGH SCHOOLS

John L. Tildsley,
Associate Superintendent in Charge of High Schools.
[March 1919]

Every student graduated in June, 1920 and thereafter from the general course of the high schools of New York City, must have had a course in economics of not less than five periods a week for one-half year. This requirement, recently adopted by the Board of Superintendents, is one of the changes which may be charged directly to the clearer vision of our educational needs which the war has brought us. Many of us have long believed that economics is an essential element in the curriculum of the public high school, whose fundamental aim is to train the young to play their part in an environment whose ruling forces are preeminently industrial and commercial. But it has required the revelation of the dangers inherent in our untrained citizenship to cause us to force a place for the upwelcome intruder among the college preparatory subjects whose vested rights are based on immemorial possession of the field of secondary education.

One of the chief aims of the Board of Superintendents in establishing this new requirement is, without doubt, to give high school students a specialized training which shall bring to them some understanding of the forces economic and political which so largely determine their happiness and general well being, to the end that these students shall discharge more intelligently their duties as citizens in a democracy, and shall develop their productive capacity to the increase of their own well being and to the resulting advancement of the common good. A further reason for introducing economics is the belief that the boys and girls who have had this training will be better able to analyze the various remedies proposed for the evils of our social organization and to detect the iallacies which are so often put forth as measures of reform. These students should find in such training an antidote to the movements which have as their aim the over throw of institutions which the experience of our race has evolved through the centuries.

Because of this realization that economics deals not only with the conduct of business enterprises but also with political institutions and with movements for social amelioration, it is apt to enroll among its teachers the enthusiastic social reformer whose sympathies are all-embracing, who readily becomes a propagandist for his or her pet project of reform, and who finds it impossible to resist the temptation to enroll converts among the trusting students of his or her classes. It is because of this conception of the nature of economics teaching in our educational program that the new subject has been some what despised by the teachers of the sterner disciplinary subjects.

With full sympathy with the vocational aim of economics, I would offer as its chief claim for a place in our high school curriculum, that it is essentially a disciplinary subject, that it can be taught and should be taught so as to yield a training of the highest order, somewhat different in its processes, but no less searching in its demands upon the students, than mathematics or physical science.

It is a subject, therefore, to be taught by the man with the keenly analytical mind, by the man who can detect the untruth and train pupils to detect the untruth in the major premise, by the man who from tested premises can proceed to a valid conclusion. Economics is essentially applied logic rather than a confused program of social reform, as too many of its advocates have led the layman to believe.

Economics in the past has been for the most part a college and university subject. Consequently the well-trained student of economics has found his work in the college, in government service, on newspaper or magazine, and, in ever-increasing numbers, in bank ing and finance. Practically none has sought to find a career for himself in secondary work.

With full knowledge of this fact, we have added economics to the high school curriculum in the hope that ultimately the demand will create a supply of teachers thoroughly trained in economic theory before they begin their teaching. Meanwhile, we confidently expect that men thoroughly trained in other subjects which require a high degree of analysis and synthesis, will come to the rescue as they see the need. Applying the knowledge of scientific method which they possess to the new subject matter, these teachers may speedily acquire that mastery of principles which is necessary for the effective teaching of economics.

In my own experience, as I sought for economics teachers in the High School of Commerce, I found them among the teachers of mathematics and of biology. Certain of these teachers, who had an interest in business and public affairs and who were masters of scientific methods, became in the course of a single term expert teachers of economics. They even preferred the new subject to the old, because of the greater interest manifested by the students in this subject which never fails to enlist the enthusiastic interest of students when properly taught.

I trust, therefore, that some of our teachers who enjoy close, accurate thinking will take up some economic text, such as Taussig, Seligman, Seager, Carver, or Marshall, and, having read this, will follow it up with other texts on the specific fields of economics to which they find themselves attracted. Very soon, I believe, such teachers, in view of the urgent need for teachers of economics, will realize the very great service they can render our schools by utilizing their knowledge of boys and girls, their mastery of method, their awakened interest in economics and social phenomena, in training these boys and girls in this most vital subject.

As a text book for classroom use, I recommend a systematic book, such as Bullock’s Introduction to [the Study of] Economics, which lays the emphasis on principles rather than on descriptions of industrial processes or on the operation of social agencies. There are several books which are more interestingly written, but in the hands of most teachers they will lead to a descriptive treatment of industry and social institutions, to discussions for which the students are not qualified because of their ignorance of and want of drill in economic principles.

Our students need to be trained in economic theory before they attempt to discuss measures of social reform. They need to grasp the meaning of utility, value, price, before they take up the study of industrial processes. It is because of hazy conception of these primary elements that we fall so readily into error. The key to economic thinking lies in a clear understanding of the terms margin and marginal. The boy who has digested the concept “marginal utility” is already on the way to becoming a student of economics. Until he has arrived at an understanding of the nature of value, he is hardly ready to discuss socialism, wage theories, the single tax or other like themes.

The temptation for the untrained or inexperienced teacher is to begin with the study of actual business, partly as a means of interesting the student by causing him to feel that he is dealing with practical life, partly because he conceives business as a laboratory and desires as a scientist to employ the inductive method. The study of the factory or store takes the place of the study of the crayfish. The analogy does not hold. Induction in economics is the method of discovery, it is not the method of teaching, especially of secondary teaching. The method is deductive. The teacher must assume that certain great principles have been shown to be valid. He should drill on these principles and their application till the pupil has mastered them.

Let no one believe that this means a dull grind. Even such a subject as marginal utility can be made interesting to every student. It is altogether a matter of method. The concept must be presented from a dozen different angles. There must be no lecturing, no mere hearing of recitations. The pupil must not be assigned a few pages or paragraphs in the book and then left to work out his salvation. The real teaching must be done in the recitation period, with the teacher at the blackboard with a piece of chalk in his hand, ready to answer all questions and with a dozen illustrations at his command with which to drive home the principle, illustrations with which the pupils are thoroughly familiar because taken from the daily occurrences about them. For example, to explain the principle that the value of any commodity is determined by its marginal utility and that its marginal utility is the lowest use to which any commodity must be put in order to exhaust its supply, take the teacher’s desk as the illustration. Elicit from the pupils the different uses to which that desk may be put, and write the list as it is given on the blackboard. Some boy will remark that the desk could be used for firewood and will ask why the value of the desk is not determined by its utility as firewood; then comes the query, will not the supply of desks be exhausted before it is necessary to use them as firewood? As a result of this give and take process, the boys, in one recitation, may grasp this principle which is the very keystone of our modern economics.

John Bates Clark, our foremost theorist, once said to me that there is no principle in economics so difficult that it cannot be understood by a ten year old child if it is properly taught. But how often it is not properly taught! Teaching economics is like kneading bread. The teacher must turn over these principles again and again until they are kneaded into the boy so thoroughly that they have become a part of his mind stuff. When he has once had kneaded into him the concepts of the margin, marginal utility, the marginal producer, the marginal land, the marginal unit of capital, the marginal laborer, he can move fearlessly forward to the conquest of the most involved propositions of actual business. In business, in government, in all the multitudinous activities of life, we come to grief because our concepts are not clearly defined. Because of deficient analysis, we accept wrong premises and because of muddy reasoning, we allow factors to enter into the conclusion which were not in the premises. If economics be taught with the same degree of analysis of conditions, with the same accuracy in checking the reasoning as in geometry, the teacher will find himself surprised by the ability of the students to solve a most difficult problem in the incidence of taxation or one in the operations of foreign exchange. As a means of testing whether the student has gained a clear concept, problem questions should be assigned at the close of every discussion, to be answered at home in writing by the pupil, and written tests should be given at least once a week. Purely oral work makes possible much confusion of thought on the part of the pupil without the knowledge of the teacher. The slovenly thinking which may thus become a habit will produce a wrongly-trained citizen more dangerous than one who has had no training in economics at all. The problems which this training fits the student to solve are precisely the kind of problems that every businessman is called upon to face every day of his life. For example, the man who keeps the country store at Marlborough or Milton on the Hudson will soon need to decide how large a stock of goods he will order for the fall trade. This may seem to be a simple problem and yet he needs all his experience to enable him to analyze the problem of demand for his goods. This involves the effect of the mild weather on the vines and peach trees, the possibility of his customers again securing boys and girls from New York to pick the crops, the matter of freight rates on fruit, the buying capacity of the people of New York which, in turn, involves a knowledge of conditions in many industries. After he has considered all of these elements, he has come to a conclusion as to demand for his goods, but he has not yet touched the question whether the cost of his goods is to be higher or lower before September next. Do we wonder that failures are so common when we realize that few of our people, even our college graduates, are trained in accurate observation, keen analysis, rigid reasoning? The development of these powers in his pupils should be the fundamental aim of every teacher of economics this coming year. If this aim should be realized for every high school pupil in this country, we should not need to fear for the future of our city, our state, our nation. Inefficient government is due chiefly to the failure of our people to realize the connection between incompetent or dishonest officials and the well-being of the individual. Dangerous movements like the I. W. W. and Bolshevism are due to slovenly thinking, poor analysis of conditions by both the members of these organizations and those responsible for the conditions which breed these dangerous movements. Marxian socialism is based on premises which will not bear analysis, namely, the Marxian theory of value, which is not evolved from experience, the resulting expropriation theory, which depends upon this false theory of value, and the inevitable class struggle and the ultimate triumph of the proletariat, an unwarranted conclusion from invalid premises.

I have indicated that the primary aim of the Board of Superintendents in making economics a required subject was vocational in character. Through the medium of this subject it seeks to train good citizens. I trust I have made clear that this vocational aim can be best realized by making all aims subsidiary to the disciplinary aim; that we should, therefore, make the recitation periods in this subject exercises in exact analysis and rigid reasoning. If our schools can produce a generation of students with trained intelligence, students who can see straight, and think straight on economic data, we need not fear the attacks on our cherished institutions of the newcomers from lands where they have not been permitted to be trained and where the nursing of grievances has so stimulated the emotional nature as to render the dispassionate analysis of industrial movements and civil activities almost an impossibility.

Effective teaching in economics brings to the teacher an immediate reward, for the efficient teacher of economics must keep in touch not only with the changes in economic theory but with the movements in industry and finance, with problems of labor, problems of administration, local and national, with the vast field of legislation, and these not only in America, but in Asia, Australia, South America and Europe as well. Every newspaper, every periodical yields him material for his classroom. Almost every man he meets may be made to contribute to his work. The boundaries of his subject are ever widening. There is, moreover, no need of the stultifying repetition of subject matter, for there is no end to the material for the elucidation of economic principles. Nor is the teacher of economics in the high school compelled to create in his pupils an interest in the subject. for every New York boy is an economist in embryo. Questions of cost, price, wages, profits, labor, capital, are already the subjects of daily discussion.

The complaint so often heard that the teacher is academic, that he is removed from the world of practical affairs, and has little touch with the man in the street, cannot be made of the teachers of economics, who is vitally interested in his teaching. The more he studies his subject, the more he becomes a citizen of the world with an ever-deepening interest in all kinds of men and in all that pertains to man, the broader becomes his sympathies, the wider his vision.

The New York high schools offer great opportunities for men and women who, whether trained students of economics or not, are students of life. Here they may serve the state as effectively as the soldier in the field. Here they may train the young for lasting usefulness to themselves and to the city, while at the same time they are broadening their interests, expanding their vision and growing in intellectual vigor under, the compulsion of keeping pace with the demands of a subject which reflects as a mirror the changing needs and desires of men. The teaching of economics in high schools demands our strongest teachers. There is no place for the man who has finished his growth, who cannot change to meet changed conditions; nor is there place for the man who loves change just because it is change. The teacher of economics in the New York City high schools should be a co-worker with all those who seek to preserve and to develop those institutions, economic and civic, which have stood the test and gained the approval of the wise among us through the years. He should be a man who is fundamentally an optimist, constructive in his outlook on life, not destructive. If his motto be, “All’s wrong with the world,” there should be no place for him as a teacher of economics in a high school in New York City or in any other American city.

Economics is closely allied with the study of civics or government. In every school where there is not a full program in economics, the teacher of economics should also teach the civics. With the great increase in our civics work, there should be established in each school a department of economics and civics. For each of these subjects a license is being issued and separate examinations are being held. For the new department first assistants may be appointed and will be appointed.

May we not, therefore, confidently expect that some of our strongest teachers shall prepare themselves for this most interesting and vital work which will be given in every high school beginning September next?

Source: Bulletin of the High Points in the Work of the High Schools of New York City, Vol. I, No 3 (March 1919), pp. 3-7.

Image Source: Photo of Dr. John L. Tildsley in “Modern Girls Not All Wild; Here is Proof” [Construction of a new building to house Girls’ Commercial High on Classon Avenue, near Union Street] Sunday News,Brooklyn Section, p. B-15.

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Curriculum Economics Programs Economists M.I.T. Teaching

M.I.T. Charles Kindleberger’s Ruminations on Professional Education, 1966

 

Today’s post was an absolute treat to prepare. It gives us an opportunity to rise above the tactical aspects of economics education (i.e. syllabi and exams) to consider issues of grand strategy in higher education.

Charles Kindleberger was one of my professors in graduate school. Though I did take his course in European economic history, I must confess that I was not ready to absorb much of the intuition and wisdom that he tried to share with us. That said, my classmates and I very much respected his old-school, gentlemanly charm and deeply appreciated the scholar-economist dutifully warning us whipper-snappers that “the second-derivative is the refuge of a scoundrel!”

While this essay from 1966 mostly appears to present a distillation of Kindleberger’s experience at M.I.T. in the economics department and as chairman of the Institute Faculty, in it you will find timeless insights into the nature of higher education in general and of training in economics in particular. 

Research Tip:  I found this jewel of an essay while trawling through the collection of Technology Review ar srchive.org.

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The following essay was one of three papers having the theme “Innovation in Education” prepared for the 1966 M.I.T. Alumni Seminar.

Charles P. Kindleberger is professor of economics and chairman of the Faculty at M.I.T. He is known for teaching and research on world trade and economic development, and he is a member of the President’s Committee on International Monetary Arrangements. As chairman of the Faculty, Dr. Kindlberger has participated directly in many of the recent developments in professional undergraduate curricula at the Institute.

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Professional Education:
Towards a Way of Thought

by Charles P. Kindleberger

Technology Review, November 1966

THE age of the amateur is dead. Professionalism rules — in the cockpit of spaceships, in football, and in learning. We have abandoned the British tradition of the amateur who was good at everything for that of the Grandes Ecoles, with rigorous scientific training leading to professional competence. “He’s a pro,” which used to be insulting in Britain, is now a compliment everywhere.

There is some room left for the amateur tradition —  in politics. It is not good enough to duck the question of where the Inner Belt road should be located by saying that these are matters for resolution by experts. In economics, also, the number of distinct opinions on a given issue is frequently greater than one and sometimes approaches the number of experts. Social scientists resent that mere people feel entitled to have opinions on issues on which popular knowledge and capacity for theorizing are limited, but they have found no way to prevent it. And there is claimed to be scope for flair, inspiration and style — the hallmarks of the amateur — at the frontiers of science, when the ordinary professionals have carried the subject as far as they can. On the whole, however, the demand for professionals and professional education is greater than it has ever been.

Part of this demand is wasteful. An economic study some years ago claimed that there was not so much a shortage of scientists and engineers as very wasteful use of those on hand. Some part of the demand for Ph.D.’s today could perhaps be satisfied with M.S.’s, and some of the jobs seeking master’s could be filled by bachelor’s. During the long years of inadequate effective demand and considerable unemployment, we have tended to upgrade job requirements throughout the economy.

But the upgrading of the educational requirements of business and the professions goes well beyond snobbism and cultural lag. Knowledge has expanded. There is 100 times more information to be obtained today than in 1900, and it is estimated that by 2000 A.D. there will be 1000 times as much knowledge. Periodicals have risen in number from 45,000 in 1950 to 95,000 currently. Librarians blanch under the prospect of coping with the accelerating torrent of periodicals, books, monographs. A major problem in research is to find out what has been done by others so as to avoid rediscovering the same information.

The result is more professional education and more specialization. Eighty-five per cent of today’s new doctors are trained as specialists rather than general practitioners. Lawyers are experts in taxation, trusts domestic or international corporate law, or anti-trust. The man who used to be merely an economist is now a specialist in international economics or African trade. The one year of internship in medicine which was normal in 1945 has been extended to two, three or even four. Business recruits directly from the universities but increasingly from graduate schools of business, and even then the bright young graduate in management is put into a training program. Increasingly the practice is to spend a year in post-doctoral work in another university to extend one’s research training even beyond the scope of the doctorate. This stretching of the educational process to the point where the first professional income is not earned until age 25, or in some lines, 30 is expensive in many, as has been widely recognized by foundations, government, and, somewhat earlier, by parents. Together with the knowledge explosion, it is putting enormous pressure on our educational institutions to break out of old patterns and to find new ways of producing and packaging professional education.

These problems can properly be discussed in three Parts — preprofessional education, professional education as such, and mid-career upgrading. The divisions are hard to keep distinct, as will become apparent, but each section presents particular problems for the university in trying to rationalize and increase the efficiency of its professional mission.

BY preprofessional education is meant the provision of the prerequisites for professional training. In some fields such as law these are nothing more than the good general education which used to be required of the British civil servant. But I refer rather to the mathematics and physics which are needed for engineering, to organic chemistry and anatomy which used to be all that were needed as prerequisites for medical school, and to the elementary courses in a given field which must be mastered before a student goes on to the advanced reaches of any subject.

Any subject can be taught as general education, as preprofessional training, and for professional uses freshman mathematics can be taught so that the student learns to differentiate and integrate, which he needs to know preprofessionally outside of professional mathematics, or he can be taught them and mathematical analysis as well, either for general education, which includes a glimpse of the beauties of the mathematician’s universe, or as part of preprofessional work in mathematics. The clash between two of the ways of addressing a subject was neatly illustrated last spring by the resignation of 11 members of the Dartmouth medical school faculty who wanted to teach biochemistry, micro-biology and cytology as professional subjects rather than as preprofessional training for medicine.

The problem in the humanities is easier. One can argue that the ability to write a simple sentence is preprofessional education widely neglected, but for the most part English is taught as general education. But mathematics, physics, and chemistry are general education of a special sort, preprofessional education more narrowly.

The Challenge of Teaching

Most professional mathematicians, physicists, and chemists — and economists, political scientists, and psychologists as well — prefer professional to general preprofessional teaching. Preprofessional teaching for the narrow group or students which you know is going to be drawn further into the professional subject being taught is challenging and fascinating, but as general education, or preprofessional training for other fields, such training often fails to engage the excitement of the ordinary as opposed to the great teacher. The ordinary teacher is more engaged by the subject than by the students as people. The result is that he may succumb to the temptation to neglect this teaching, or to make it interesting to himself by making it more professional, or both. On his side the student is either bewildered or bored, or both. It is on this account that the quality of teaching in the first two years presents a problem of particular difficulty.

The problem is met not only at the university level. In medical school, I understand, the first two years are taken up with some anatomy and physiology but with a great deal of preprofessional training in biophysics, biochemistry, and subjects like pharmacology. It is difficult to have these well taught on the one hand, and well learned on the other, when the main professional mission or the school is clinical medicine.

Articulation: Skip or Repeat?

Articulation is painful. If the superbly trained preprofessional has to follow the regular route he is bored and discouraged. If he tries to skip large portions of early professional training which his preprofessional work presumably covered, he is never quite clear what of the work the others are taking he has mastered and what he has not.

Medical schools’ admissions officers profess to be looking for broad-gauged young men and women with wide-ranging interests developed through general education rather than those who have extensive study and good grades in biology, chemistry, mathematics and physics. In their admissions choices, however, they are likely to favor the science specialist over the generalist on the score or preprofessional advantage. But this leaves the particularly well-trained young scientist likely to waste a great deal of the first two years of medical school while his generalist colleagues catch up. The problem is particularly acute for graduates of such preprofessional curricula as molecular biology at places like M.I.T. for they are catapulted somewhere into the middle of the normal first two years of training in medicine

We have a similar problem in graduate education in economics for those students who come to us with excellent training in social science from their undergraduate institutions. For them to take the first year of graduate training — the regular courses in micro- and macro-economic theory, mathematics, statistics and economic history — involves a duplication of some 60 to 75 per cent of what they have already studied. The second time around, and more systematically, this material is warmed-over porridge and not very appetizing. But to leap right into the second year of graduate work runs the risk of missing vital elements of preparation in the 25 to 40 per cent which has been missed. And we find that the undergraduate teachers have exhausted a considerable portion of the wonder and beauty of first looking into Marshall’s Principles, if I may transliterate a line from Keats; indeed, a small but disturbing fraction of our best-taught young men become sufficiently discouraged to drop out. This can be regarded perhaps a difficulty of articulating professional rather than preprofessional education, but it is a general one.

The Several Routes to a Profession

Some of these difficulties might be overcome if the choice of profession were made earlier and all students followed the same path. But this is impossible. Professional choices are not made consistently by various young people at the same stage, with the result that there must be a variety of avenues to professional education rather than merely one. And if professional choice is made only in the junior year of college, at 21, it is hard to push the preprofessional training to lower levels.

While there are children who have known since the age of five that they wanted to be involved with electricity, or machinery, or the human body as a life’s work, career choice is more and more presenting a difficult problem to American youth. Two generations ago father dominance helped, and hurt, such choice. Today fathers know enough not to push their children in directions of which they approve —  or most of them know enough. The result is that career choice is much more squarely left to youth and is consequently fraught with youthful tension. The college dropout phenomenon is one aspect. Some young men welcome the army, the Peace Corps, or a year of travel, as legitimate means of delay in facing the necessity for career choice. Certain types of graduate training — business and law — are an escape from the need for decision. But even at M.I.T. at least 30 per cent of our undergraduates end up majoring in a different field than they put down as their intended specialization when they were admitted, and 20 per cent actually switch majors after they have chosen one at the end of their freshman year.

The social sciences labor under a considerable disability here, because fixing on a social science as a career comes as a rule much later than comparable decisions in science, engineering, medicine, or humanities. Children are aware of the body, animals, earth, sky, machines, and even prose, poetry, and the existence of the past, long before they become aware of the complexities of human society. The early models for career choice, as is well known, are firemen, policemen, and, in my day, streetcar conductors.

The consequence of late career decision is that one cannot insist that all applicants for professional training have completed their preprofessional work on admission — that all M.I.T. students, for example, come with calculus, or all medical students already have molecular biology, biochemistry, and biophysics. The only equitable, and I may add efficient, system of education is to keep all options open as long as possible. In consequence preprofessional cannot be dumped completely onto other training systems — by the technological institutes on to the schools, and by the graduate training programs on to the colleges. Some preprofessional education must be kept side-by-side with the professional, to offer a chance for the later chooser to catch up. This means that professional education must maintain a several-track system.

To keep preprofessional and professional education side-by-side in the same institution presents problems of teaching, as has already been mentioned. The ordinary instructor finds it easy and productive to take on advanced professional students — undergraduates in their senior year, or graduate students who have mastered the fundamentals. They work together, as members of a scholarly team, able to communicate in two directions. Preprofessional teaching, as I have said is less interesting.

There is no good solution for this problem. To divide the university into upper and lower division, as is sometimes done, creates a two-class system with invidious overtones. To separate preprofessional training off into colleges with dedicated teachers, and admit students to the universities only into graduate school from the four-year colleges and into the upper classes from junior colleges would not only violate traditions — which are important in the lives of institutions — but also compound the problem of articulation. The solution we see at M.I.T. is to strengthen the place of preprofessional teaching in the value system of the Institute, to restore it to the high esteem it enjoyed before it slipped under the pressure on staff of research, consulting, professional service and keeping up with the literature. No one contemplates that it is possible to staff a first-rate technological institution completely with instructors who are first-rate at teaching as they are at research and professional service. But the administration, the faculty, and the students can let all instructing staff know that whatever the professional demands on their time, teaching is not the marginal and dispensable activity.

Professional Education

The central issues in professional education have mostly been touched upon already: the extension or the material to be mastered, the difficulties of starting earlier because of late career choice, the downgrading of the bachelor’s and master’s degrees, the development postdoctoral training, the need for a rigorous scientific (instead of rule-of-thumb and seat-of-the-pants) approach in the applied fields because of the rapid rate of obsolescence, and so on. But I would make three points.

First, there is a risk that the revulsion from the empirical approach to engineering and applied social science in favor of science and pure theory can be carried too far. The simplest solution to a problem is not only the most efficient; it is also the most elegant. While it is true that one can stumble on solutions to applied problems as a by-product of pure theory, it is also true that theory is sometimes pursued for its own sake beyond the point of diminishing returns. It is not clear how much biophysics should be known to the gynecologist, how much topology to the student of fiscal policy, how much communication theory to the professor of the French language. I sometimes characterize these problems by a reference to medieval scholasticism and ask how many angels can dance on the rate of interest. Theory and pure mathematics are at the top or the pecking order in the intellectual world, and this is as it should be, just as the theoretical and mathematical requirements for the lowliest professional specialties have been increased. But high power can be overdone.

Second, the question of interdisciplinary education remains complex. The practitioner continues to be trained in a variety of fields — history, law, economics and political science for the foreign service officer; contracts, property, wills, constitution and international law for the lawyer (although the Yale Law School curriculum has been altered to include a year and a half of specialization); finance, statistics, accounting, marketing, and psychology for business; and so on. At the same time, research is increasingly conducted by centers which bring different specialists to bear on a single problem with the vantage point of their own focus: aeronautical, electrical, and mechanical engineers in instrumentation, for example. But the professional teaching which produces these scholars cannot be widely interdisciplinary. A man must master one social or physical science before attempting to integrate two. In my experience, the joint degree which bridges two or more fields in one Ph.D. is satisfactory neither for the student nor the faculty involved, and not only because of jurisdictional jealousies. Each field has an intellectual integrity as a discipline, much as it may lack in providing the complete answer to a complex research problem. The attempt to master them all ends in a mastery of none.

This is a pat answer which does not fully satisfy me. More and more professional practice is becoming the equivalent of research. Architectural design of a building is no longer a simple problem of drawing and construction engineering; as we at M.I.T. are acutely conscious, an architect needs to master the Venturi principle if his skyscraper is not to set up wind currents or micro-meteorology which makes it difficult to open the building’s doors. The designer of a rehousing project has to understand sociological grouping into communities.

Third, the narrowing distinction between research and practice leads me to question the desirability or intermediate degrees between the master’s and the doctorate, which we have developed at M.I.T. in the engineer degrees. These degrees are awarded to students who have completed the course work for the doctorate but who do not write the thesis. Their justification is that the student has undertaken course work beyond the master’s level and should get academic recognition for it. I can understand awarding the intermediate degree as a consolation prize to a student who is not being allowed to go on for the doctorate because of insufficient research creativity, or to a fully competent student who is unable for one reason or another to finish his thesis and who has gone far beyond the master’s level. But these degrees should not become ends in themselves. Teachers should have had exposure to a substantial research experience. and so. if possible, should practitioners.

IF there is an overpowering amount for professionals to learn, not only in the separate fields but in combining one or more of them, there is no need to learn it all at once, in the four, five, six to ten years between high school and professional practice. One of the most interesting developments in professional education today is mid-career schooling. This began in the business schools and is spreading rapidly. At M.I.T. we have the Sloan School of Management programs for junior and senior executives, the new Center for Advanced Engineering Study, and a host of one- and two-week summer courses. The larger companies — General Motors, General Electric, I.B.M., to cite only those I have lectured to — run training programs for their own executives. The American Bar Association has a Committee on Continuing Legal Education which runs week-long, weekend and day seminars on new problems in the law. The medical associations, national, state, and specialty groups, conduct study sessions of varying length in new techniques, medicines, specialties.

Mid-career education presents serious teaching problems. The engineer returning to the Center for Advanced Engineering Study, or the young executive enrolled in the Sloan Fellowship Program at M.I.T., is likely to need preprofessional brushing up before he can handle the material taught in professional subjects. The Sloan Fellows’ beginning experience is a summer term spent in a specially designed course which gets them up to first-year graduate speed for the regular year. The Center for Advanced Engineering has had design and give special subjects in modern calculus and quantum mechanics. This preprofessional teaching, I can say from experience, has its own special rewards for the teacher, because the students have a fresh point of view, a capacity to relate theory to real situations in a way that the undergraduate and regular graduate student cannot do. But here is another special job of teaching, and that is expensive.

Mid-career education is expensive for the university, for the student (who must uproot his family for the time) and for his company, which normally pays both his salary and tuition charges. Its great contribution is not the correction of obsolescence though this has importance. The real point is to give an opportunity in today’s complex world for a man who has worked his way through one field, and demonstrated his capacity, to introduce a slight shift in orientation and train for wider responsibilities. It used to be that only the armed services were wise enough to see its desirability and budget for the expense of training at all stages of a successful career. The State Department has long had program of sending individuals to do a year of graduate work and is now beginning to operate its own foreign Service Institute course of six months. It seems inevitable that government, industry, the learned professions and, above all others, university instructors must count on continuing education and re-education in a world of changing knowledge and maturing people.

This mid-career training need not be undertaken by the universities. The costs of adding to the diversity of the multiversity are high. It is more cheaply done without uprooting families. And yet there is benefit in bringing people from different companies, backgrounds and experience to rub elbows, in plunging the man of affairs back into the scholarly environment. The profit is mutual, so long as mid-career trainees do not overwhelm the academic tradition. There are obvious limits to how far universities can respond to the demand. If mid-career education grows, as is likely, it is reasonable to expect the development of new institutions which provide the specialized preprofessional training and mix students from different backgrounds.

No pat series of answers emerges from a discussion of professional education. I feel confident in rejecting a number of proposals for major reform. Starting professional studies earlier is undesirable insofar as it cuts general education on the one hand and closes off options for late deciders on the other. Eliminating the doctoral dissertation, or converting it to a longish paper representing a couple of months’ work, abolishes the vital test of whether a man can organize and carry through a substantial research project, a test of increasing importance in a world where the distinction between research and practice is narrowing. Dividing the university into divisions for general education and professional training not only misses the point that the same treatment of a subject can be preprofessional, general, or professional education for students with different abilities, backgrounds, and programs, but divides the faculty into elite and non-elite members in a way which subverts morale and harms the teaching mission of the university. How to improve the university’s performance in discharging the mission of general and preprofessional teaching remains an imposing challenge. Social science is a long way from ability to change value systems, and the real solution to the problem of undergraduate teaching is to restore the prestige accorded to non-professional teaching in the value systems or university staffs.

We have come a long way in American education, I believe, when we recognize that we have serious problems of what, when and how to teach and are prepared to modify the traditional system and to experiment with new techniques. The exact character of the new techniques may be less important than the attitude that the subject is important and that present conditions can be improved.

My basic conclusion is the trite one: professional education is a vastly different process than providing a young man with a hatful of formulas and training him to select the right one for the right occasion. The real task is to teach — if it can be taught, or by example to train — the young to attack a problem as a good experimental physicist, biologist, engineer, or economist would; to have a feel for the data and for the limits of standard analytical techniques; to sense, after a time, the distinction between the run-of-the-mill textbook case and that with new and puzzling complications. It is not enough to do what a professional does: one must think the way a professional thinks. And this capacity is communicated in a complex osmotic process which may be independent of or only very loosely connected with prerequisites, examinations, credits, and theses, much less closed-circuit television, teaching machines, computers, and high-powered mathematics. The educational process is an elusive one, but I venture to predict that in the long run it will be found to resemble more the chemistry of slow-cooking on the back of the stove than that of infrared split-second broiling of steaks from the deep freeze.

Source: MIT, Technology Review, 69(1), November 1966.

Image Source: Portrait of Charles Poor Kindleberger at the MIT Museum website. Colorized by Economics in the Rear-view Mirror.

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Harvard Regulations Teaching

Harvard. On the organization of the Division of History, Government, and Economics. Burbank, 1934

 

Professor Harold H. Burbank (Burbie to his friends) was a decades-long administrative multitasker during the first half of the 20th century. His realms covered both the tutorial system in the Division of History, Government, and Economics as well as the chairmanship of the economics department.The document transcribed for this post appears to have served as Burbank’s background briefing on the organization of the Division of History, Government, and Economics for the committee, chaired by the President of Princeton, Harold W. Dodds, tasked with establishing a school of public administration at Harvard.

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Who’s Who

James Bryant Conant (1893-1978) was a chemist, educator and public servant. The wide variety of his interests and occupations are reflected in the title of his memoirs, My Several Lives. Conant’s “several lives” included periods as a chemistry instructor, University president, national director of defense research, ambassador to Germany and as an author of critical works examining secondary education in the United States. Conant’s pursuits carried him from his boyhood home in Boston to Harvard University and eventually around the globe.

Conant graduated from Harvard College in 1914, completing a three-year program as an undergraduate concentrator in chemistry. He remained at the University, studying with Elmer Kohler, and received his degree two years later. An academic career followed, during which time Conant worked at Harvard as an instructor (1917), assistant professor (1919) and eventually as a tenured professor (1927) of organic chemistry. In 1921 he married Grace Thayer Richards, daughter of chemistry professor Theodore William Richards, whom Conant had met at a dinner for graduate students at Professor Richards’ house.

In 1933, despite the fact that his only previous administrative experience was a term as chair of the Chemistry Department, Conant was appointed to succeed A. Lawrence Lowell as President of Harvard University. President Conant worked to enhance Harvard’s position as a national institution with an international reputation for academic achievement. He established the National Scholarships which allowed young men of intellectual promise to attend Harvard College regardless of their financial circumstances or proximity to Cambridge, Massachusetts. He also broadened the intellectual scope of the undergraduate student body through the General Education Program. This program required each undergraduate, regardless of his concentration, to take courses in three broad disciplines: the humanities, the social sciences, and the natural sciences. President Conant further promoted intellectual exchange through the establishment of the prestigious University Professorships, which gave leading scholars tenured appointments at the University, unencumbered by ties to specific faculties or departments.

Conant’s achievements also included expansion in the teaching of education and of journalism. In the fall of 1935 the Harvard Faculty of Arts and Sciences and the Graduate School of Education voted to recommend his plan for the establishment of a new degree, the Master of Arts in Teaching (M.A.T.). The M.A.T. required prospective teachers to demonstrate a command of educational theory as well as familiarity with specific subjects by undergoing examination by members from both the teaching faculty and their specific subject faculty. Three years later, Conant helped to establish the Nieman Fellowships. These fellowships fund a year of study at Harvard for professional journalists.

During wartime, Conant balanced his service to the University with a commitment to national affairs. In 1917 he briefly left Harvard to join the Chemical Warfare Service and by the end of the First World War he was promoted to the rank of major. Conant, an outspoken critic of Nazi Germany, played a more prominent role during the Second World War. As a member and chairman of the National Defense Research Committee, he and his colleagues were responsible for the technical direction of military scientific research, including atomic research. At the end of the war he declined to become the first chairman of the Atomic Energy Commission, although he continued to serve as Chairman of the National Science Board.

Conant retired from Harvard in 1953. He immediately began another of his “lives,” serving as U.S. High Commissioner to Germany and Ambassador to Germany. In 1957 he resigned his diplomatic post and once again turned his attention to American education. In 1957, Conant, along with the Educational Testing Service, administered a large scale study of American high schools. Following this, he studied and reported on teacher education in American Universities. In 1964, he returned to Berlin for eighteen months as an educational advisor under the auspices of the Ford Foundation.

Conant spent his final years as a resident of New York City, Summering in Hanover, New Hampshire. He took ill in Hanover during the spring of 1977 and remained there until his death on February 11, 1978. He was survived by his wife who died in 1985 and his sons James Richards and Theodore Richards.

Source:  Harvard University Archives. Collection overview: Papers of James Bryant Conant, 1862-1987.

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Vernon Munroe, Jr., Harvard Class of 1931. One of three members of a special committee of the Student Council who wrote a report “The Tutorial System in Harvard College” (published as a supplement to the Harvard Alumni Bulletin, October 9, 1931).

SourceReport of the President of Harvard College 1930-31, p. 96.

MUNROE RESIGNS AS SECRETARY TO PRESIDENT CONANT

The Harvard Crimson, May 7, 1934

Announcement was made at University Hall yesterday of the resignation of Vernon Munroe, Jr. ’31, as secretary to President Conant.

Munroe has held the position since September 1, 1933 when he was appointed by the Corporation to a new post as assistant to the President of the University.

Graduating from Harvard in 1931 he spent the next year at the Law School, leaving there to assume his post as aide to the President. He plans to continue next year with his work in the Law School.

At college Munroe was President of the Student Council, Captain of the University track team, Chairman of the Dunster House Committee, and Third Marshal of his class. As President of the Student Council he was active in preparing a special undergraduate report on the Tutorial System at Harvard.

Although no one yet has been chosen to succeed Munroe, it is believed that the appointment of his successor will be made in the near future.

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Princeton University President (1933-57) Harold W. Dodds  was appointed by President Conant as head of a commission to consider the establishment of a new school of public administration (today’s John F. Kennedy School of Government).

Source: Report of the President of Harvard College 1934-35, p. 23.

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Harold Hitchings Burbank. Chairman of the department of economics 1927-38 and 1942-46 and Chairman of the Board of Tutorials in the Division 1916-46.

From the active list, Harold Hitchings Burbank, David A. Wells Professor of Political Economy, died on February 6, 1951, in his sixty-fourth year. He began his career in the field of Economics at Dartmouth where he taught for one year, 191o-11. He came to the University in 1911 as an Assistant in Economics, becoming an Instructor in 1912. In 1914 he was appointed a Tutor in that Department, and from 1916 to 1946 he served as Chairman of the Board of Tutors in the Division of History, Government and Economics. He was Assistant Professor of Economics from 1919 to 1923, Associate Professor from 1923 to 1926, and Professor of Economics from 1926 to 1932. From 1932 until his death he held the David A. Wells Professorship of Political Economy. He was also Chairman of the Department of Economics from 1927 to 1938, and again from 1942 to 1949; he acted as Chairman of the Division of History, Government and Economics from 1942 to 1946. Few Harvard teachers ever worked with as many students individually or gave so lavishly of their time and energy.

Source: Harvard University. Report of the President of Harvard College, 1950-51, p. 29.

Cf. Burbank’s earlier report, transcribed and archived at Economics in the Rear-view Mirror:  Report on the Tutorial System in History, Government and Economics. Burbank, 1922.

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Background information on the Division of History, Government, and Economics written by the Chairman of Economics Department, 1934

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

H. H. BURBANK

41 HOLYOKE HOUSE
CAMBRIDGE, MASSACHUSETTS

May 21, 1934

Dear Mr. Munroe,

The organization of the Division of History, Government, and Economics is complicated. I am listing below some comments on the questions raised by President Dodd. [sic, almost certainly should be “Dodds”] I can give you complete details should you require them.

  1. The Division has developed through the separation from History of the Departments of Economics and Government. The Division is composed of the members of these three departments.
  2. The Division unit was maintained before 1914 primarily for the administration of graduate degrees. Emphasis was placed upon the formulation and administration of the degree requirements rather than on the development and coordination of the curriculum. I believe that some attention was given also to candidates for Honors for the Bachelors‘
  3. As I recall it, there was a small independent budget to provide for secretarial assistance to the Chairman of the Division and to provide for the printing of the Division pamphlet and the schedule of graduate degree examinations.
  4. The administration of graduate degrees has continued since 1914, but latterly, the programs of the three departments have become characterized by their differences rather than by their unity of conception and action.
    1. The independent Division budget for the purposes summarized above has been continued. It is prepared and administered by the Chairman of the Division.
  5. In 1914 on the recommendation of the Division, Comprehensive Examinations and a system of Tutorial Instruction were initiated. To a small degree the curriculum within the Division was coordinated. Correlation among the subjects taught in the several departments was required. To meet the new objectives, an Examining Committee, appointed by the President, was created, and the general development and supervision of the Tutorial Instruction was placed in the hands of a new Division officer — the Chairman of the Board of Tutors in the Division of History, Government, and Economics.
    1. All tutors, whether in History, Government, or Economics, were, in theory, recommended by the Division. The appointment was, and is, in the Division rather than in a particular department.
    2. Until about 1925, a Division Committee on Appointments — the Chairman of the Board of Tutors, the Chairman of the Division, and the Chairmen of the three Departments — passed upon all recommendations for appointments in the Division as tutors. Since 1925, this Committee has not been active. All appointments as tutor therefore are now on the basis of Departmental recommendation. The Chairman of the Board of Tutors is usually consulted.
    3. With the appointment of Divisional Examiners and Tutors, a budget was called for, which included the expenditures for Tutorial Instruction, for the Examiners, and for Administration.
    4. Until 1931, this budget, prepared by the Chairman of the Board of Tutors was altogether distinct from Departmental budgets, although it was always prepared in consultation with the Division Chairman.
    5. During the last five years there has developed a tendency toward complete Departmental control of Tutorial Instruction. With the development of Departmental control and responsibility, the Division budget has become less important, until for the forthcoming year it will practically disappear except for the maintenance of a small sum for administration and examining.
  6. It may be stated that from 1914 to 1928, or 1929, there was thorough Division control in the development of Tutorial Instruction. After the functions and methods of instruction had been established on a satisfactory plane, Division control was slowly withdrawn and instruction decentralized. The Division still operates unqualifiedly as a unit in the administration of examinations.
  7. With the rapid increase in the membership in the Division since 1914, the group became ineffective as an administrative unit. For some years, the affairs of the Division have been administered by a Committee of Seven— the Chairman of the Division, the Chairmen of the three Departments, and delegates from each Department — which meets when necessary. Although the principal work of the Committee is confined to the administration of graduate degrees, the Committee frequently concerns itself with Tutorial Instruction and with questions of the curriculum which have common interest. The Division meets as a group for the recommendation of degrees — A.B., A.M., and Ph.D.
  8. Until 1930, instruction in Sociology was offered by the Department of Economics. Also, some subjects ordinarily regarded as belonging to the subject of Sociology were offered by the Department of Social Ethics which was affiliated with the Department of Philosophy. Independent instruction in Sociology has been established and the Department of Sociology stands as a Division without direct affiliation with other Departments.

Sincerely yours,
[signed]
H. H. Burbank

Mr. Vernon Munroe, Jr.
VS

Source: Harvard University Archives. Records of President James B. Conant, Box 9, Folder “History, Government & Economics, 1933-1934.”

Image Source: Portrait of Professor Harold H. Burbank in the Harvard Classbook 1934. Colorized by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard Suggested Reading Syllabus Teaching Undergraduate

Harvard. Course Outline, Reading Assignments, Semester Exams. Principles of economics. Smithies, 1951-52

The self-confidence of the businessmen appointed to Harvard’s economics department visiting committee at mid-20th-century to weigh-in on all matters related to the scope and method of economics as a science and policy art is breath-taking, and I don’t mean that in a good way. For an earlier post I transcribed the November 1950 report submitted by the visiting committee and the January 1952 response from Harvard President James B. Conant. Reading Keller and Keller’s Making Harvard Modern: The Rise of America’s University (2001), I learned that Clarence B. Randall [Chairman of the Economics Visiting Committee] alleged that the economics chairman, Arthur Smithies, ripped off the first page of the syllabus for the principles of economics course to hide the list of main sources of readings for the course, knowing that some of the items would displease Randall.

This was enough to get me to look at the syllabus with assigned readings and the final examinations for Economics 1 “Principles of Economics” for the academic year 1951-52 now transcribed for this post. The first page of the syllabus appears to simply be tables of primary sources for the readings assigned in the fall and spring terms that permit abbreviated reference in the course syllabus. But since he was given the complete list of readings and an outline of the course, I find it more likely that Randall merely saw a tempest in a teapot. Others can examine the artifacts themselves and come to their own conclusions.

If I were in the jury, I would vote to acquit Smithies of the charge of willfully destroying or hiding evidence known to be relevant. Any idiot could figure out Karl Marx made a guest appearance in the Harvard course readings from the course outline and its reading assignments. Smithies provided sufficient evidence as to course content to Randall. Actually I think Smithies should have been awarded damages for having his honor impugned, or even a Purple Heart. Suffering fools has always been a part of the price of departmental service.

__________________________

Cf. An earlier version of the Syllabus for “Principles of Economics”

1949-50.  Economics 1 outline and exams.

__________________________

Smithies’ letter of Oct 31, 1951 to Randall

October 31, 1951

Mr. Clarence B. Randall
38 South Dearborn Street
Chicago 3, Illinois

Dear Mr. Randall:

I was very glad to get your letter and I do wish we had more opportunities to sit down to discuss the affairs of the Department in a more leisurely manner than is usually possible.

We have given a great deal of thought during the fall to the questions about the Department that you have raised with the President. I am afraid it might confuse things if I attempted to discuss those questions by letter so I shall forebear. I would like to say, however, that whether or not I agree with your conclusions I have always found your criticisms of the Department very helpful.

Dave Bailey called and asked us to keep Sunday evening, January thirteenth, free for a meeting with the committee. As you know, I do not think these single evening meetings serve any very useful purpose. They do not enable the Committee to talk at any length with members of the Department or to make any adequate appraisal of the Department’s program. Several members of the Committee have told me that oven the full day we devoted to the purpose last year was too short. Several members of the Department have also indicated to me that they feel that the Sunday evening meeting is to [sic] perfunctory. Therefore, I very much hope we can arrange another program of the kind we had last year.

Things seem to be going quite satisfactorily here. The enrollment has not shrunk to anything like the extent that was anticipated last spring.

This year we have extended tutorial to sophomores in Group III and above so that we have now practically restored the tutorial system that was eliminated during the war.

I am sending you a copy of the outline of Economics 1 which may interest you. I still regard it as by no means perfect but am more satisfied with it than with what we have had before. We are continuing to have occasional lectures in Economics 1 and during the course of the year I hope that most of the senior members of the staff will give at least one lecture.

Our contract with the Business School for Smith and Butters to teach Burbank’s courses is working out quite as well as I expected. I want to make this a permanent arrangement, but I would not be surprised at some time to see some resistance from the Business School. If we need it, I hope we can rely on your Committee’s support to continue this arrangement.

The defense program has made fewer inroads on the Department than we expected. It is absorbing a good deal of Mason’s sabbatical leave; Dunlop is spending a day or two a week with the Wage Stabilization Board; and I go to Washington for a couple of days a week as a consultant to Charles E. Wilson.

If there is any chance of seeing you during the fall, I would very much appreciate the opportunity. I am regularly in Washington on Thursdays — if you can every bring yourself to visit that unholy city.

Yours sincerely,

Arthur Smithies

Enclosure

__________________________

Randall alleges sleight-of-hand by Smithies regarding the Economics 1 reading list.

“Besides their ideological concerns, the Overseers worried about the department’s ability (and desire) to teach undergraduates. [Chairman of the Economics Committee, Clarence B.] Randall fretted that research-obsessed professors were away too much; senior professors avoided teaching lowerclassmen. And he agreed with [President James B.] Conant that the field ‘has reached a point of ethereal content which is as lifeless to me as much…modern poetry. It just doesn’t seem to matter.’ Conant concede that the department ‘has not faced up to the problem of making a real effort ot improve the instruction in the introductory courses in Economics.’ Feeling the pressure, chairman [Professor Arthur] Smithies proposed an extensive plan to strengthen undergraduate teaching. Randall appreciated Conan’s response to his criticisms. He left the visiting committee in the fall of 1952, but not without a final disappointment. He heard that when he asked the chairman for a copy of the Economics A [sic, Principles of Economics last listed as “Economics A” in 1947-48. Beginning 1948-49 it was given the number “Economics 1″ ] reading list, Smithies tore off the first page because he thought that Randall would disapprove of many of the authors (as in all likelihood he would have). ‘I bear no animosity about that,’ Randall told Conant, ‘but it does make me a little heartsick. I am always shocked when I find amongst either professors or preachers ethical practices below the standard prevailing in business.”

Source:  Morton Keller and Phyllis Keller, Making Harvard Modern: The Rise of America’s University (Oxford University Press, 2001), pp. 84-85.

__________________________

Course Announcement

Economics 1. Principles of Economics

Full course. Mon., Wed., Fri., at 12. The major part of the course is conducted in sections. However, throughout the year there will be occasional lectures on Wed. at 12. Mon., Wed., and Fri., will be the normal hour for section meetings but sections will be scheduled at other hours. Professor Smithies and other Members of the Department.

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

Economics 1 is designed to introduce students to the methods of economic analysis that bear on the issues that confront this country and the world. The course will thus serve the needs both of those students who plan no further work in economics and those who desire to obtain the groundwork for more advanced courses in the field.

Source: Harvard University. Faculty of Arts and Sciences. Courses of Instruction, 1951-52 pp.  75-76.

__________________________

Economics 1
Syllabus and Readings
1951-52

[first page begins]

ECONOMICS 1
1951-52
Fall Term

Sources:

Bowman and Bach, Economic Analysis and Public Policy, Second Edition (1949)
** Clark, J.M., Common and Disparate Elements in National Growth and Decline
Daugherty and Daugherty Principles of Political Economy, vol. II
The Midyear Economic Report of the President, July 1951
Editors of Fortune, U.S.A. — The Permanent Revolution
* Gayer, Harriss, and Spencer, Basic Economics, A Book of Readings
Hart, Defense Without Inflation
Marx, The Communist Manifesto
Mill, J. S., Principles of Political Economy
* Morgan, T., Introduction to Economics
Office of Defense Mobilization, Meeting Defense Goals
Ruggles, R., National Income and Income Analysis
Schumpeter, J. A., The Theory of Economic Development
Slichter, S., The American Economy
** Spengler, J. J., Theories of Socio-Economic Growth
[“Baumol Economic Analysis” inserted here]

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

[end of first page]

ECONOMICS 1
Fall Term

PART I. The American Economy—Its Growth, Complexity, Institutions and Problems
  1. The Growth of the U.S. Economy and Its Present Complexity
    1. Change in productivity and income; the increase in population, capital accumulation, and the supply of natural resources.
    2. The functions of the economy.
    3. The complex division of labor and specialization within the U.S. economy for performing these functions.
    4. The role of the price system and market mechanism — the circular flow of economic activity.

Readings:

Slichter, Ch. 1, The American Economy

Gayer, et al., Nos. 6, 7, 8, 9, 59

Bowman and Bach, Ch. 3, The Economic System — A Summary View; Chapter 4, Private Enterprise, Profits, the Price System

  1. Prerequisites for a Growing Economy
    1. Climate and natural resources, attitudes of the population, capital and technology, institutional conditions and systems, etc.
    2. Comparisons among different economies

Readings:

Clark, Common and Disparate Elements in National Growth and Decline

Daugherty and Daugherty, Ch. 34, Modern Economic Society

  1. Institutions of an Advanced Industrial Economy
    1. Large scale enterprise — the organization of business
    2. The organization of labor and agriculture
    3. The role of the monetary system and its organization
    4. The role of the government

Readings:

Morgan, [Introduction to Economics]

Ch. 4, The Scale and Location of Production

Ch. 5, The Organization of Business

Ch. 6, The Rise of Labor Unions; Social Legislation of the 1930’s

Ch. 7, The Nature of Money

Ch. 8, The Supply of Money

Ch. 9, The Demand for Money

[“Ch. 28” inserted here]

Ch.10, The Control of Money

Ch. 3, Economic Decisions under Laissez-Faire, a Mixed Economy, and Socialism

Editors of Fortune, Ch. 4, The Transformation of American Capitalism

Gayer, et al., Nos. 51, 54, 65 [“, 12” inserted here]

  1. Some Views on Economic Growth
    1. The classical economists
    2. Schumpeter
    3. Marx
    4. Other socio-economic views

Readings:

Mill, Vol. II, Bk. IV, Ch. 6, Of the Stationary State

Schumpeter, Ch. 2, The Fundamental Phenomenon of Economic Development

Marx, The Communist Manifesto

Spengler, Theories of Socio-Economic Growth

  1. The Problems of a Growing and Complex Economy
    1. Business fluctuations and economic stability
    2. Competition and monopoly
    3. The distribution of income
    4. International problems
    5. Economic Power

Readings:

Morgan, Ch. 1, Economic Problems and Economic Progress, pp. 3-7

Slichter, Ch. 6, How Good is the American Economy

PART II. Fluctuations in National Income — The Problem of Economic Stability
  1. The Measurement of National Income
    1. Components of national income and their statistical measurement.
    2. Correcting national income figures for price changes over time — the real national income.

Readings:

Morgan, [Introduction to Economics]

Ch. 25, The National Income

Ch. 26, Fluctuations in the Real National Income: The Problem of Index Numbers

[“Ch. 27 Production & Employment” inserted here]

  1. The Sources of the Expenditures Determining National Income
    1. Consumption expenditures.
    2. Investment expenditures.
    3. Government expenditures.

Readings:

Morgan, Ch. 31, The Sources of Expenditure

  1. Fluctuations in National Income
    1. The determination of the level of national income.
    2. The effect of changes in spending—the multiplier and acceleration effects.
    3. Business cycle experience of the past.
    4. Counter-cyclical policies
    5. The problem of the national debt

Readings:

Morgan, Ch. 32, Fluctuations in Production and employment

Ruggles, Ch. 12, Economic Policy and the Level of Activity

Morgan, Ch. 36, Part C, The Burden of Public Debt, pp. 685-696

Gayer, et al., Nos. 81, 85

PART III. Economic Mobilization
    1. The pattern of mobilization.
    2. Methods of meeting the defense goals.
    3. The problem of checking inflation in the mobilization period.

*  *  *  *  *  *  *  *  *  *

[first page begins]

ECONOMICS 1
1951-52
Spring Term

Sources:

Allen and Brownlee, The Economics of Public Finance
Blakiston Company, Readings in the Social Control of Industry
Buchanan and Lutz, Rebuilding the World Economy
Dean, J., Managerial Economics
Ellsworth, P. T. The International Economy
Federal Budget in Brief, latest available
* Gayer, Harriss, and Spencer, Basic Economics, A Book of Readings
Galbraith, J. K., American Capitalism
* Morgan, T., Introduction to Economics
Peterson, S., Economics
Schumpeter, J. A., Capitalism, Socialism, and Democracy
** Slichter, S., Profits in a Laboristic Society

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

[end of first page]

ECONOMICS 1
Spring Term

PART IV. Economic Behavior of the Individual
    1. The problem of choice — the manner in which the individual will use his services and property to earn income and the way he will allocate his income among consumer goods.
    2. The factors influencing his decisions — marginal utility, prices and types of products and services, “conspicuous consumption,” technology, advertising, habit, etc.

Readings:

Peterson, ch. 19, pp. 478-488

Gayer, et al., Nos. 15, 18

PART V. Business Behavior in a Dynamic Economy
  1. Profit-making as the main objective of business enterprises.

The relevance of the time period, liquidity and safety, potential competition, the anti-trust laws, etc., for profit maximizing.

  1. The influence of market structure on the range of decisions by the firm.

Pure competition — agriculture;
Oligopoly or monopolistic competition — industry;
Monopoly — a limiting case.

    1. Conditions of product demand — income levels, availability of substitutes, the price and nature of the product, advertising, etc.
    2. Sales promotion plane and product improvement strategy — research.
    3. Investment decisions — choosing the best plant size and operating it in the most efficient manner.
    4. Pricing policies.
    5. Labor relations.
  1. The interactions of such decisions among business firms in a dynamic economy.
  2. The effectiveness of business behavior in satisfying consumer demand, allocating resources, and stimulating growth.

Readings:

Dean, Ch. 1, Sections 1, 2, 4, 5

Morgan, Chs. 12, 11, 15, 16

Dean, Ch. 7

Schumpeter, Ch. 8

Gayer, et al., Nos. 20, 21, 26

  1. Public Programs of Promotion and Control of Business.
    1. The historical development of government regulation.
    2. The anti-trust approach.
    3. Public utility regulation.
    4. Government sponsored restraints of competition.
    5. Evaluation of government regulation.

Readings:

Gayer, et al., No. 35

Morgan, Ch. 17

Readings in the Social Control of Industry, Ch. 1

Gayer, et al., Nos. 34, 38

PART VI. The Division of the National Income among the Major Groups
    1. The facts on distribution — past and present.
    2. The manner in which demand and supply factors affect the income of the means of production.
    3. The study of these elements in the determination of wages, rents, interest, and profits.
    4. Interactions among prices, profits, wages and property incomes in a dynamic, industrial economy.
    5. The influence of the government on the distributive shares.

Readings:

Morgan, Chs. 23, 18-22

Gayer, et al., Nos. 42, 41

Slichter, Profits in a Laboristic Society

Galbraith, Chs. 9-11, 14

Gayer, et al., Nos. 44, 50, 88 (Henry George)

PART VII. The International Economy
    1. The development of the world economy.
    2. The breakdown of the world economy.
    3. Reconstructing the world-economy-post-war problems and policies.

Readings:

Buchanan and Lutz, Ch. 1

Morgan, Ch. 38

Ellsworth, The International Economy, Ch. 5, 111-120 or

International Economics, Ch. 2

Gayer, et al., Nos., 100-102, 104, 105

PART VIII. Government Finance and Fiscal Problems
  1. Revenues and Expenditures of the Government
    1. The historical change in the role of the government.
    2. The structure of the Federal Budget.
    3. Financing expenditures from sources of taxation — types of taxes, who pays them, and their effects on the economy.
    4. The use of government borrowing to finance expenditures. Should we have an annual balanced budget? What is the burden of the National Debt.
    5. The role of the government as a credit agency.

Readings:

Allen and Brownlee, Ch. 1

Morgan, Ch. 24

Federal Budget in Brief.

Gayer, et al., Nos. 89, 90, 92, 95

PART IX. The Prospects and Fundamental Problems of the American Economy
    1. The problems of economic growth, economic stability, competition and monopoly, the distribution of income, and international economic relations.
    2. How can these problems best be met within the framework of democratic capitalism?

Readings:

To be assigned later.

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

__________________________

1951-52
HARVARD UNIVERSITY
ECONOMICS 1
[Mid-Year Examination, January 1952]

(Three hours)

Answer FIVE of the following SEVEN questions. Divide your time equally among each of the FIVE questions.

  1. “Although Schumpeter was influenced to a great extent by Marx’s ideas, his views of capitalistic development differed in many basic respects from those of Marx.”
    Develop the major points of similarity and difference of their theories of the process of capitalistic development.
  2. Define Gross National Product and National Income. Discuss some of the conceptual and statistical problems in measuring these economic aggregates including the difficulty of comparing Gross National Product at different times. Comment upon the usefulness of these concepts as measures of economic growth.
  3. Economic growth in the United States has been accompanied by bigness in business, labor, finance, and government. Should this concentration movement be regarded as inevitable in the process of capitalistic development? In your opinion has this trend towards bigness interfered with economic growth or accelerated it?
  4. (a) What powers does the Federal Reserve System have to combat inflationary and deflationary movements in the level of economic activity? Explain the manner in which the application of each measure is designed to influence the economy.
    (b) How has Treasury financing policy during the last decade interfered with the usefulness of these powers as a means of economic control?
  5. Discuss the behavior and interactions of consumption and investment expenditures as Gross National Product fluctuates over the course of the business cycle.
  6. “The Mobilization People seem to have two main goals – to maintain stability, i.e., prevent prices from rising, and to increase production. They are both laudable objectives by themselves. But those Washington bureaucrats don’t seem to realize they can’t have their cake and eat it too. They try to maintain stability by high taxes plus price and resource controls. Yet these are the very measures which strangle the businessman and take away his incentive to increase production. I say, forget the controls. American production in a free economy will achieve both goals.”
    Discuss the issues raised in this statement and, in so doing, suggest the kind of economic policies that you think will best meet our mobilization needs as presently conceived by the federal government.
  7. What in your opinion are the main factors which account for the different rates of growth in real income per capita at different periods of history and in various areas of the world.

Source: Harvard University Archives. Harvard University, Final examinations 1853-2001 (HUC 7000.28). Vol. 90 Final Exams [in] Social Sciences, January 1952.

__________________________

 1951-52
HARVARD UNIVERSITY
ECONOMICS 1
[Year-end Examination, May 1952]

PART I
(One hour)
Answer (a) and (b)

  1. (a) Assuming perfect knowledge and the desire to maintain profits, explain briefly the manner in which the price and output of a commodity are determined (1), under purely competitive conditions and (2) under conditions of pure monopoly.
    (b) How relevant and useful are these theories in adequately explaining business behavior:

(1) under industry conditions in which competitors are few and products differentiated,
(2) when short-run profit maximization may impair the long-run profit position, and
(3) in accounting for the phenomenon of innovation and company policy toward expansion.

PART II
(Two hours)
Answer any FOUR questions. Each will be counted equally.

  1. “The failure of traditional economic analysis to develop a theory of profits which links them to economic growth has in some ways resulted in an unrealistic anti-monopoly program.” Discuss.
  2. In what ways are wages related to the marginal productivity of labor? How does collective bargaining influence wages and employment?
  3. “Equality is a good thing, but so are rising living standards and greater opportunity.”
    To what extent do you think attempts to redistribute income are compatible with policies promoting economic growth? In your answer be careful to distinguish types of redistributive measures and their various effects.
  4. This year every presidential candidate is faced with the need for advancing a tax and expenditure program. As a citizen what economic issues would you want a candidate to cover and what criteria would you employ in evaluating his program?
  5. Answer (a) or (b).

(a) “We shall never have a sound system of international trade until we return to the Gold Standard.” Discuss critically the reasoning underlying this statement, particularly with regard to its implications as to the compatibility of domestic stability and international equilibrium.

(b) “Events in the past fifty years have seen the rise of the United States to a position of dominance in international trade. Yet it may be questioned whether we are willing to accept the responsibilities which our role in the world economy entails.”
Evaluate the statement in the light of the development of United States foreign economic policy in recent years.

Source: Harvard University Archives. Harvard University, Final examinations 1853-2001 (HUC 7000.28). Vol. 93 Final Exams [in] Social Sciences, June 1952.

Images Sources: Smithies from From Harvard Class Album 1952;
Portrait of Trustee of the University of Chicago, Clarence B. Randall, from the University of Chicago Photographic Archive, apf1-03000-082, Hanna Holborn Gray Special Collections Research Center, University of Chicago Library.