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Columbia Alumnus Arthur F. Burns applies to NBER for Research Associateship, 1930

Post author By Irwin Collier
Post date 2019-08-20

Arthur F. Burns was twenty-five years old when he submitted the following application for a Research Associate position that provided 11 months funding at the National Bureau of Economic Research. Results from this project would be ultimately incorporated into Burns’ doctoral dissertation published as the NBER monograph Production Trends in the United States Since 1870 (1934).

_____________________

Arthur F. Burns’ late NBER application forwarded to Edwin Gay

National Bureau of Economic Research, Inc.

February 25, 1930

Dr. Edwin F. Gay
117 Widener Library
Harvard University
Cambridge, Mass.

Dear Dr. Gay:

The attached application of Mr. Arthur Frank Burns has just been received. Athough the time limit has passed, you might wish to consider it, and I am therefore forwarding it to you.

Yours very truly,
[signed] G. R. Stahl
Executive Secretary

GRS:RD

[handwritten note]
[Frederick C.] Mills knows something about this man and regards him favorably.

_____________________

NBER Research Associate Application of Arthur F. Burns
(February, 1930)

National Bureau of Economic Research, Inc.

51 Madison Avenue
New York

RESEARCH ASSOCIATES’ APPLICATION FORM

Applications and accompanying documents should be sent by registered mail and must reach Directors of Research not later than February 1, 1930. Six typewritten copies (legible carbons) should accompany each formal application.

Candidates should have familiarized themselves with the main objects and work of the National Bureau of Economic Research.

Candidates are expected to be in good health, free from physical or nervous troubles, and able to complete their work in New York without predictable interruption.

Research Associates will not accept other remunerative employment while connected with the National Bureau of Economic Research.

Candidates’ names should be written plainly on each manuscript.

Title of Project

A Study of Long-Time Indexes of Production

Name of Candidate

Arthur Frank Burns

Date of Application

February 21, 1930

THE CANDIDATE

PERSONAL HISTORY:

Name in full: Arthur Frank Burns
Home address: 34 Bethune St., New York City
Present occupation: University teaching
Place of birth: Stanislawow, Poland
Date of birth: April 27, 1904
If not a native-born citizen, date and place of naturalization: About 1920; Bayonne, New Jersey
Single, married: Married
Name and address of wife or husband: Helen, 34 Bethune Street
Name and address of nearest kin if unmarried: [blank]
Number, relationship, and ages of dependents: [blank]

Name the colleges and universities you have attended; length of residence in each; also major and minor studies pursued.

Columbia College, Sept. 1921-Feb. 1925. Majors—Economics, German. Minors—English, History
Columbia University, Feb. 1925-June 1927. Major—Economics. Minor—Statistics.

List the degrees you have received with the years in which they were conferred.

B.A.—Feb. 1925
M.A.—Oct. 1925

Give a list of scholarships or fellowships previously held or now held, stating in each case place and period of tenure, studies pursued and amount of stipend:

Columbia College Scholarship, 1921-1924. $250 per annum
Gilder Fellowship, Academic Year 1926-1927, Columbia University. Stipend $1200. Chief study pursued—Monetary Theory

What foreign languages are you able to use?

French and German

ACCOMPLISHMENTS:

Give a list of positions you have held—professional, teaching, scientific, administrative, business:

Name of Institution	Title of Position	Years of Tenure
Columbia University	Instructor in Extension	Feb. 1926-June 1927
Soc. Science Res. Co.	Report on Periodicals	Summer of 1927
Rutgers University	Instructor	1927 to date

Of what learned or scientific societies are you a member?

Phi Beta Kappa
American Statistical Society

Describe briefly the advanced work and research you have already done in this country or abroad, giving dates, subjects, and names of your principal teachers in these subjects:

Master’s essay on Employment Statistics, under Professors F.A. Ross and W.C. Mitchell, in 1925
Studies in the field of Business Cycles, under Professor W.C. Mitchell, 1926 to date
Studies in the field of Monetary Theory, under Professors Mitchell and Willis, 1926-1927
Work on Negro Migration, under Professor F.A. Ross, Summer of 1925
Work on Instalment Selling, under Professor E.R.A. Seligman, Summer of 1926
Report on Social Science Periodicals for the Social Science Research Council, under Professor F. Stuart Chapin, Summer of 1927.

Submit a list of your publications with exact titles, names of publishers and dates and places of publication:

See separate sheet on publications

THE PROJECT

PLANS FOR STUDY:

Submit a statement (six copies) giving detailed plans for the study you would pursue during your tenure of an Associateship. This statement should include:

(1) A description of the project including its character and scope, and the significance of its presumable contribution to knowledge. Describe how the inquiry is to be conducted, major expected sources of information, etc.
(2) The present state of the project, time of commencement, progress to date, and expectation as to completion.
(3) A proposed budget showing the amount of any assistance, whether of a statistical or clerical nature, or traveling expense that you would require to complete your project.

REFERENCES:

Submit a list of references

(1) from whom information may be obtained concerning your qualifications, and
(2) from whom expert opinion may be obtained as to the value and practicability of your proposed studies.

_____________________

Arthur F. Burns

THE PROJECT
A Study of Long-Time Indexes of Production

Several years ago I embarked upon an inquiry into the broad problem “The Relationship between ‘Price’ and ‘Trade’ Fluctuations.” The study had two main purposes: (1) to provide a systematic description and analysis of one structural element of the “business cycle,” (2) to determine and appraise the empirical basis for the widely held view that “business stability” may be attained through the “stabilization of the price level.” But soon enough I found it difficult to adhere to the project that I had formulated. The task in the course of execution in the statistical laboratory loomed more formidable than in the “arm-chair” in which it found its inception. But another circumstance proved even more compelling in bring about a restriction of the area of the investigation: no sooner was a small segment of the plan that served as my procedural guide completed, but a host of new queries, not at all envisaged in the original plan, arose and pressed for an answer. Thus, impelled by considerations of a practical sort—working as I did single-handed, and by a growing curiosity, I subjected the project to successive reductions of scope. The present project, “A Study of Long-Time Indexes of Production,” is the untouched, and perhaps an unrecognizable, remainder of the original inquiry. On this limited project I have been at work intermittently for about a year and a half.

The object of the present project is to study the “secular changes” in “general production” in the United States, and thereby throw light on one important constituent aspect of the trend of “economic welfare.” The establishment of a theory of secular change in general production calls, in the main, for the performance of two tasks. In the first place, the rate of growth of the physical volume of production and its variation have to be determined. In the second place, the empirical generalizations so arrived at have to be interpreted. The general plan of the investigation is built around these two problems; but to perform these tasks adequately, a host of subsidiary problems have to be met.

Some details of the organization of the project, as well as the point to which work on the project has been carried thus far, may best be indicated by setting forth the extent to which the tentative individual chapters have been completed. The first chapter treats of the contents of the concept “economic welfare,” and traces, analytically and historically, problems in the measurement thereof; this chapter is practically finished. The materials for the second chapter, which is devoted to the history of production indexes, have, for the greater part, already been collected; and a preliminary draft of the chapter has been completed. Much of the third chapter, which is concerned with an analysis of a conceptually ideal measure of the physical volume of production, and the special bearing of this analysis on long-time indexes of production, is written; this chapter is to be but an extension of the paper on “The Measurement of the Physical Volume of Production,” which was published in the Quarterly Journal of Economics, February, 1930. In the fourth chapter, an analysis of the available long-time indexes of production is made; this chapter covers a much more extensive area than the brief reference to it may lead one to suppose; and though several months of continuous work have already been devoted to it, considerable literary research and statistical routine remain. The fifth and six chapters will present the results of the computations on the rate of secular change in physical production; though much ground has been covered (over one hundred trends have already been determined), even more remains to be done. Of the next and final two chapters, in which an interpretation of the computed results is to be offered, very little has been put into written form; but a substantial body of literature has been abstracted; and a preliminary outline of some portions of the theory to be presented, now that many of the calculations are completed, has been worked out.

It will be apparent from this statement of the work already done on the project that it has reached a point where completion by the middle of 1931 may well be expected. In fact, the freedom to pursue the investigation unencumbered by academic duties may make possible a more intensive cultivation of the demarcated field than is presently contemplated; or, if it be deemed advisable, an extension of the investigation, now confined to the United States, to several other countries for which what appear to be reasonably satisfactory materials have of late become available.

Needless to say, the above statement of the project constitutes no more than a report on its present status. There probably will be modifications of some importance. One change, in fact, is now being seriously considered: the replacement of Chapters II and III by a brief section, to be worked into the introductory chapter, to the end that a nicer balance between the divisions on, what may be described as, “data and method” and “results” be achieved.

In continuing with this study there will be no travelling expenses to speak of. At the most, there will be a trip or two to Washington. It goes without saying that the study will proceed more rapidly if clerical assistance is had. Only a single statistical clerk would be needed, and a halftime clerk might suffice.

_____________________

Arthur F. Burns

References

Group I

Professor Robert E. Chaddock, Columbia University
Professor Wesley C. Mitchell, Columbia University
Professor H. Parker Willis, Columbia University
Professor Eugene E. Agger, Rutgers University
Professor Frank W. Taussig, Harvard University

Group II

Professor Wesley C. Mitchell, Columbia University
Professor Wilford I. King, New York University
Mr. Carl Snyder, New York Federal Reserve Bank
Dr. Edmund E. Day, Social Science Research Council
Dr. Simon Kuznets, National Bureau of Economic Research

_____________________

Arthur F. Burns

Publications

A Note on Comparative Costs, Quarterly Journal of Economics, May, 1928

The Duration of Business Cycles, Quarterly Journal of Economics, August 1929

The Geometric Mean of Percentages, Journal of the American Statistical Association, September, 1929

The Ideology of Businessmen and Presidential Elections, Southwestern Political and Social Science Quarterly, September, 1929.

Thus Spake the Professor of Statistics, Social Science, November, 1929

The Quantity Theory and Price Stabilization, American Economic Review, December, 1929

The Relative Importance of Check and Cash Payments in the United States: 1919-1928, Journal of the American Statistical Association, December, 1929

The Measurement of the Physical Volume of Production, Quarterly Journal of Economics, February, 1930

_____________________

Reference Letter: H. P. Willis

Columbia University
in the City of New York
School of Business

February 27, 1930.

Mr. G. R. Stahl,
Executive Secretary,
National Bureau of Economic Research,
51 Madison Avenue,
New York City.

My dear Mr. Stahl:

I have received your letter of February 26. Mr. Arthur F. Burns, whom you mention, was a student here some years ago, passed his doctorate examination with money and banking as one of his topics. I had general supervision of his work in money and banking and also came into contact with him individually now and then. I thought him a specially acute and capable student of the subject and it seemed to me that he had rather unusual research ability. He has been teaching, I believe, at Rutgers University for a couple of years past and during that time he has occasionally written articles in the scientific magazines and has sent me copies. I have read them with substantial interest and have thought that they showed steady growth in the grasp of the subject and in ability to present it.

I do not know exactly what kind of work you would be disposed to assign him in your bureau were you to appoint him, and hence it is difficult for me to give specific opinion of his “strong and weak points”, for strength and weakness are relative to the work to be done. I should suppose that in a statistical research relating to monetary and banking questions, and particularly to the price problem, Mr. Burns would be decidedly capable. I do not think of any elements of corresponding weakness that need to be emphasized, but perhaps you might find him less devoted to the necessary routine work that has to done in every statistical office, than you would to the planning of investigation and the initiation of inquiries in it. Put in another was this might be equivalent to saying that Mr. Burns is perhaps stronger in conception and planning than he is in execution and yet I do not know that he is in any way to be criticized for his power of execution. I simply mean that he does not seem to be as outstanding in that direction as he is in the other.

I, however, commend him unreservedly to you as a capable man in connection with price, banking and credit research.

Yours very truly,
[signed] H. P. Willis

HPW:S

_____________________

Reference Letter: Willford I. King

AMERICAN STATISTICAL ASSOCIATION

Secretary-Treasurer
Willford I. King
530 Commerce Building, New York Univ.
236 Wooster Street, New York City

February 27, 1930.

Mr. G. R. Stahl,
National Bureau of Economic Research,
51 Madison Avenue,
New York City.

Dear Mr. Stahl:

I have met Mr. Arthur F. Burns two or three times but do not know very much about his record. One thing, however, stands out strongly in his favor. He recently published in the AMERICAN ECONOMIC REVIEW a very fine piece of work on the equation of exchange. This indicates to me that he is competent to do research work of high quality.

Cordially yours,
Willford I. King.

WIK:RW

_____________________

Reference Letter: F. W. Taussig

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
February 28, 1930

Dear Mr. Stahl:

I have a high opinion of A. F. Burns. I have watched his published work, and some I have examined with care. As will be noted, he has an article in the current issue of the Quarterly Journal of Economics which I consider first-rate. He is a keen critic, and handles figures well. He writes more than acceptably, and in my judgment gives promise of very good work in the future. You will have to go far to find a man clearly better.

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

Mr. G. R. Stahl
National Bureau of Economic Research
51 Madison Avenue
New York City

_____________________

Reference Letter: E. E. Agger

Rutgers University
New Brunswick, New Jersey
Department of Economics

March 5, 1930

Mr. G. R. Stahl,
National Bureau of Economic Research, Inc.
51 Madison Avenue,
New York City

Dear Mr. Stahl:

Replying to your letter of February 26^thI may say that I have known Mr. Arthur F. Burns ever since his undergraduate days. He was one of my honor students when I was at Columbia and when he finished his graduate work I brought him to Rutgers as an Instructor. I think that he will be promoted to an Assistant Professorship next year.

He has been a specialist in the field of Statistics and Economic Theory and would therefore, in my judgment, be ideally equipped for the post of Research Associate. He is meticulously careful and most painstaking. You are doubtless familiar with some of his writings during the past year or so. They have seemed to me excellent pieces of work. We shall sorely miss him should he ask for leave to accept possible appointment under you, but on the other hand, I believe that in the end it will add to his value to us, at the same time that you are getting the use of his services. In short, I recommend him without qualification.

Sincerely yours,
[Signed] E.E. Agger

EEA:H

_____________________

Reference Letter: Carl Snyder

COPY
Thirty Three Liberty Street
New York

March 5, 1930

Dear Mr. Stahl:

I have followed the work of Arthur F. Burns, of whom you wrote, with a great deal of interest. It seems to me careful, conscientious, well-planned work. He has the inquisitive mind, and that is the great thing. His ideas seem to me sound and his statistical methods well grounded.

The problem in which he is interested is one in which we have done a great deal of work here, and I know of nothing of greater importance. I wish very cordially to endorse the recommendation for his appointment as a Research Associate.

Please believe me, with very best regards,

Sincerely yours,
Carl Snyder

Gustav R. Stahl, Esq.,
National Bureau of Economic Research
51 Madison Avenue, New York City

_____________________

Reference Letter: Simon Kuznets

NATIONAL BUREAU OF ECONOMIC RESEARCH
51 Madison Avenue, New York

March 3, 1930

Committee on Selection,
National Bureau of Economic Research
51 Madison Avenue,
New York City

Gentlemen:

Arthur F. Burns who is applying for appointment as a Research Associate is my former classmate from Columbia University, and has always impressed me by his keen powers of observation and analysis. His work speaks for itself, for he has had opportunity to publish some of the by-products of his doctor’s thesis in the form of articles.

He has a thorough statistical training, both in theory and in technique, for he has studied statistics, taught it, and applied its principles. He is also thoroughly versed in economic theory, having studied it under Professors W. C. Mitchell and H. L. Moore.

On the whole, Mr. Burns is a candidate of high promise. He is still quite young in years, but is quite experienced in research work. He ought to prove equal to the opportunities which an appointment as a research associate will provide for him.

Yours respectfully
[signed] Simon Kuznets
[Research Staff member, NBER]

_____________________

Reference Letter: Robert E. Chaddock

Columbia University
in the City of New York
Faculty of Political Science

March 3, 1930.

Mr. G. R. Stahl, Executive Secretary
National Bureau of Economic Research
51 Madison Avenue, New York City

Dear Mr. Stahl,

I have expressed my opinion as to the qualifications of Cowden, Gayzer and Leong as candidates for Research Associate. Mr. Arthur F. Burns is superior to any of these in qualifications for research, in my opinion. All his inclinations and his critical attitude toward his own and the results of others point to research as his field. He has unusual technical preparation in Statistics and does not lose sight of the logical tests of his knowledge. He has been publishing articles constantly since entering upon his teaching at Rutgers University where he is successful as a teacher so far as I know. I would not rate him ahead of the candidates I have described before in matters of personality and personal contact, but I do regard him as a very superior candidate in respect to qualifications for research and scholarly productivity.

Sincerely yours,
[signed] Robert E. Chaddock

REC:CT

_____________________

Letter: Edwin F. Gay to Arthur F. Burns

NATIONAL BUREAU OF ECONOMIC RESEARCH
51 Madison Avenue, New York

June 25, 1930

Mr. A. F. Burns
34 Bethune Street
New York City

My dear Mr. Burns:

At a recent meeting of the Executive Committee of the National Bureau it was decided that since all the members of the regular staff are not available until the end of September, the Research Associates should be asked to report here on October 1, 1930, instead of September 15. You may, of course, come earlier but full provision for your work cannot conveniently be made before the date indicated. The stipends of the Research Associates are to run from October 1, and also the salaries of such statistical assistants as are designated for the service of the Research Associates.

Upon your arrival you are to report to Dr. Frederick C. Mills, who will have direct responsibility as your adviser. You will be free, of course, to consult with any of the members of the staff.

In regard to arrangements for statistical and other assistance, you will consult with Mr. Pierce Williams, the Executive Director.

It gives me great pleasure, in behalf of the directors and staff of the National Bureau, to welcome you as a research associate. We trust that you will find the eleven months with us not only scientifically profitable but personally enjoyable.

Sincerely yours,
[signed] Edwin F. Gay]
Director of Research

[handwritten note] P.S In looking over your application, I [word illegible] certain [items?] which I think should be filled out. These are: the date of arrival in this country, precise date of naturalization; pre-college education.

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Arthur F. Burns Papers, Box 2, Folder “Correspondence/NBER, 1930”. IMG_8329.JPG

Image Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Arthur F. Burns Papers, Box 6. Folder “Photographs, B&W I”. Note: “1930s” written on back of photograph.

Tags Agger, BurnsAF, Chaddock, Day, Gay, HP Willis, KingWI, Kuznets, MillsFC, Mitchell, Moore, Ross, Seligman, SnyderC, Taussig

Economists Gender Harvard Transcript

Harvard/Radcliffe. Economics PhD alumna and Wharton professor, Anne C. Bezanson, 1929

Post author By Irwin Collier
Post date 2019-03-15

The materials in this post are presented in the opposite order that they were actually assembled. I began with three pieces of correspondence and a transcript of economics courses for a Radcliffe graduate who was ABD (= “all but dissertation”) and still interested in submitting a thesis more than a decade after her last course work at Harvard. The economics department chairman, Harold H. Burbank, made no fuss and we can see from the record that Annie Catherine Bezanson was indeed awarded an economics Ph.D. in 1929.

After I filled in the course titles and professors for her transcript, I then proceeded to gather biographical/career information for Bezanson. It of course did not take very long to discover that shortly after being awarded her Ph.D. she was promoted to a professorship with tenure, the first woman to have cleared that professional hurdle at the University of Pennsylvania. What turned out to be more challenging was to find any photo whatsoever. Fortunately I stumbled upon a genealogical site that posted a picture of Anne Catherine Bezanson along with the obituary that begins the content portion of the post…

_______________________

Obituary from Bezansons of Nova Scotia

Died, Feb. 4, 1980, Dr. Anne Bezanson bur. Riverside Cemetery, Upper Stewiacke. Professor Emeritus, Wharton School of Finance & Commerce, U. of Pennsylvania, d… Hanover, Mass.

Born Mt. Dalhousie, N.S. daughter of the late John and Sarah (Creighton) Bezanson. Dr. Bezanson went to the United States in 1901, where she received her A.B. degree, A.M. & PhD. from Radcliffe…member of the Phi Beta Kappa…awarded an honourary doctor of science degree from University of British Columbia and from the University of Pennsylvania…served as Director of the Industrial Research Dept., Wharton School of Finance and Commerce; was professor at the Graduate School of the University of Pennsylvania…served on the staff of the U.S. Coal Commission..member of Conference of Price Research, advisor to the Social Services Research Project, Rockefeller Foundation…wrote numerous articles in various professional economic journals …member American Economic Associationn; Historical Society of Pennsylvania; Economic History Association., serving as President from 1946-1948; American Statistical Association; Econometrics Society; Vice-President Delta Chapter Phi Beta Kappa, University of Pennsylvania.

Source: From the Website: Bezansons in North America

_______________________

PIONEER IN ACADEMIC BUSINESS RESEARCH
ANNE BEZANSON, PROFESSOR

ANNE BEZANSON had not yet completed her PhD in economic history in 1921, yet she was about to make history herself. At Wharton, the young Canadian helped establish the first business school research center, the Industrial Research Unit (later known as Industrial Research Department or IRD), with Professor Joseph Willits. The founding marked Wharton’s shift toward becoming an academic business research hub — defining a new role for business schools that continues today.

Bezanson’s 1921 article on promotion practices became the first product of the IRD. Bezanson continued her practical research in the early 1920s, writing a series on personnel issues, focusing on turnover, worker amenities, and accident prevention.

Willits and Bezanson designed an ambitious research program to explore and help civilize industrial working conditions, with the goal of social change. In 1922, Bezanson and Willits spent a year studying the earnings of coal miners at the U.S. Coal Commission. Employer associations, government agencies, and international organizations continued to look to the IRD for timely and practical knowledge.

In 1929, Bezanson finished her Harvard PhD and became the first female faculty member of Penn’s Graduate School of Arts and Sciences. Under her leadership as co-director (which continued until 1945), the IRD had many women on its team and pursued research into the economic status of workers, revealing for the first time hard proof of the disparities in salaries and promotions for women and minorities across many industries.

Bezanson became the first woman to get full tenure at Penn, and in the 1930s sat on the National Bureau of Economic Research Price Conference. From 1939 to 1950 Bezanson was a part-time consultant at the Rockefeller Foundation, where she organized the first-ever roundtable on economic history in 1940. As a result of this involvement, Bezanson played a crucial role in the creation of the Economic History Association in the early 1940s, serving as president between 1946–1947. She died in 1980.

Source: University of Pennsylvania. The Wharton School.Wharton Alumni Magazine, 125^thAnniversary Issue (Spring 2007).

_______________________

Harvard/Radcliffe Academic Record

A.B. magna cum laude in economics.

Source: Report of the President of Radcliffe College for 1914-1915, pp. 10,13.

A.M. Annie Bezanson….Southvale, N.S. [Nova Scotia]

Source: Report of the President of Radcliffe College for 1915-1916, p. 12.

June 1929 Doctor of Philosophy

Annie Catherine Bezanson, A.B. (Radcliffe College), 1915; A.M. (ibid.), 1916. Subject, Economics. Special Field, Labor Problems. Dissertation, Earnings and Working Opportunity in the Upholstery Weavers’ Trade.

Source: Report of the President of Radcliffe College 1928-29, p. 321.

_______________________

Economics Coursework

HARVARD UNIVERSITY
(Inter-Departmental Correspondence Sheet)

Cambridge, Massachusetts

Miss Anne Bezanson, A.B., Radcliffe 1915; A.M., 1916.

1911-12

Ec 1….B [Principles of Economics, Prof. Taussig et al.]
Ec 5….B, A- [Economics of Transportation, half course. Prof. Ripley]

1912-13

Ec 23….A- [Economic History of Europe to the Middle of the Eighteenth Century. Dr. Gray]

1913-14

Ec 11….B [Economic Theory. Prof. Taussig]
Ec 24….A [Topics in the Economic History of the Nineteenth Century. Prof. Gay]

1914-15

Ec 7….. [Theories of Distribution. Prof. Carver, Excused for Generals.]

1914-15

Ec 13….A [Statistics: Theory, Method and Practice. Asst. Prof. Day]
Ec 34….A [Problems of Labor. Prof. Ripley]
Ec 12….B+ [Scope and Methods of Economic Investigation. Half-course. Prof. Carver]
Ec 33….B [International Trade and Tariff Problems in the United States. Half-course. Prof. Taussig]
Ec 20….A- [Course of Research. Probably Economic History with Prof. Gay]
Ec 14….A [History and Literature of Economics to the year 1848. Prof. Bullock]

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950. Box 3.

_______________________

Handwritten letter from Bezanson to Burbank

January 2, 1928 [sic]

My Dear Prof. Burbank:

A long time ago, I talked with Professor Young, as well as Professors Carver and Gay about submitting one of my studies in part fulfillment of the requirement for a doctor’s thesis. This request is the result of the difficulty of leaving my present work to complete the study upon which I was at work from 1915 to 1918 on the Industrial Revolution in France. This month when I completed the first analysis of the Earnings of Tapestry Weavers, I sent it to Professor Gay with the hope that it would be, or could be, made acceptable to the Department of Economics.

All this discussion has been informal and, of course, unofficial. I am now writing to you for advice about the official steps: should I apply to the Dean of the Graduate School for permission to change the thesis subject? or should this request go from you? Do you advise such a request and if so can it be made without changing my field of concentration?

Briefly my difficulty is that though I passed the General Examination in October, 1916, I have since not completed the thesis and final examination requirements. A degree seems to have some value in promotion here. Yet, I am engaged on studies which I cannot drop and go back to a subject as remote as French conditions. Dean Gay has been in touch with the progress of Tapestry Earnings and I am acting upon his suggestion in asking for an opinion upon the possibility of offering that study as a thesis.

Very sincerely yours
[signed]
Anne Bezanson

Industrial Research Department
University of Pennsylvania
Philadelphia, Pa.

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950. Box 3.

_______________________

Copies of responses by H.H. Burbank to Bezanson

January 7, 1929

Miss Anne Bezanson,
Index Research Department,
University of Pennsylvania,
Philadelphia, Pa.

Dear Miss Bezanson:

I see no reason why the program which you have offered for the Ph.D. cannot be changed to allow you to present your study on “Earnings in the Upholstery Weavers Trade”.

There will be some red tape about it. I expect I shall have to secure the consent of the Dean of the Graduate School and of the Department, but I foresee no difficulties in either direction.

I will write you as soon as there is a definite decision.

One question that is certain to be raised is whether or not the research is entirely your own work or whether it was carried on by an organization. I should like to have your reply to this as soon as possible. Your preface throws some light on this. I note that you say: “All analysis and interpretation of material has been made by the Index Research Department”. Does this mean that your own work was strictly limited to the writing of the report in the preparation of the material on which the investigation was based?

Very sincerely,
[H.H. Burbank]

* * * * * * * * * * *

January 9, 1929

Miss Anne Bezanson,
Index Research Department,
University of Pennsylvania,
Philadelphia, Pa.

Dear Miss Bezanson:

This is more or less a continuation of the note I sent to you yesterday. Last evening I talked to the members of the Department regarding your request. I think something can be worked out for you without very much trouble.

For your General Examination you presented Theory, Statistics, International Trade, Labor, and American History, reserving Economic History as your special field. It is my guess that you have done very little indeed with the literature of the field of Economic History during the last ten years, and that to prepare this field for a special examination would involve an inordinate amount of work. Further, it would require quite a stretch of the imagination to include your study of “The Upholstery Weavers” as Economic History.

Would it not be more within your general field of interest to present Labor problems as the subject for intensive examination. In spite of the fact that you presented this subject in your General Examinations it could be included as a special field. By a stroke of good fortune the Department put into effect this fall a ruling whereby candidates for the PhD may present an honor grade in an approved course in lieu of an oral examination in a subject. Ordinarily you would be required to stand for examination in Economic History as well as in Labor Problems, but under this new ruling we are able to accept the grade of A in Economics 24 taken in 1915.

Briefly then, it is my suggestion that your special field be Labor Problems, within which the dissertation which you are now presenting naturally would fall.

Please let me know if this meets with your approval.

Very sincerely,
H. H. Burbank.

HHB:BR

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950. Box 3.

Image Source: Website Bezansons in North America.

Tags Bezanson, Bullock, Burbank, Carver, Day, Gay, Gray, Ripley, Taussig

Courses Economic History Exam Questions Harvard

Harvard. Economics course descriptions, enrollments, final exams. 1915-16.

Post author By Irwin Collier
Post date 2019-02-07

In this post I have assembled all the Harvard economics examinations I could find for the academic year 1915-16 and then supplement these with the annual enrollment data published in the President’s annual report which incidentally identifies the course instructors. Next I thought it would be even nicer to add course descriptions, but unfortunately I did not have access to the published 1915-16 announcement for the Division of History, Government, and Economics so I have added the course descriptions from 1914-15 or 1916-17 where the course titles and instructors exactly match.

For year-long courses, only the year-end final examination was included in the Harvard publication of examination papers, i.e. the mid-year final exams from January are missing for those courses. However, for the principles course and Taussig’s graduate theory course I have been able to find copies of those exams filed elsewhere in the Harvard archives (see notes).

Primarily for undergraduates:

Principles of Economics (Day with selected topics by Taussig)

For undergraduates and graduates
Statistics (Day)
Accounting (Davis)
European Industry and Commerce in the Nineteenth Century (Gay)
Economic and Financial History of the United States (Gay)
Money, Banking, and Commercial Crises (Anderson)
Economics of Transportation (Ripley)
Economics of Corporations (Ripley
Public Finance, including the Theory and Methods of Taxation (Bullock)
Trade Unionism and Allied Problems (Ripley)
Economic Theory (Taussig)
Principles of Sociology (Carver)
Economics of Agriculture (Carver)

Primarily for graduates
Economic Theory (Taussig)
The Distribution of Wealth (Carver)
Statistics: Theory, Method, and Practice (Day)
History and Literature of Economics to the year 1848 (Bullock)
Analytical Sociology (Anderson)
Public Finance (Bullock)

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Principles of Economics (Day with selected topics by Taussig)

ECONOMICS A: Course announcement [1914-15]

[Economics] A. (formerly 1). Principles of Economics. Tu., Th., Sat., at 11.
Professor TAUSSIG and Asst. Professor DAY and five assistants.

Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes a consideration of the principles of production, distribution, exchange, money, banking, international trade, and taxation. The relations of labor and capital, the present organization of industry, and the recent currency legislation of the United States will be treated in outline.

The course will be conducted partly by lectures, partly by oral discussion in sections. A course of reading will be laid down, and weekly written exercises will test the work of students in following systematically and continuously the lectures and the prescribed reading. Course A may not be taken by Freshmen without the consent of the instructor.

ECONOMICS A: Enrollment [1915-16]

[Economics] A. Asst. Professor Day; and Dr. J. S. Davis and Mr. P. G. Wright, Dr. Burbank, and Messrs. Monroe, Lincoln, R.E. Richter, and Van Sickle. With Lectures on selected topics by Professor Taussig. — Principles of Economics.

Total 477: 1 Graduate, 28 Seniors, 111 Juniors, 278 Sophomores, 13 Freshmen, 46 Other.

ECONOMICS A: Mid-Year Examination [1915-16]

Plan your answers carefully before writing. Write concisely. Arrange your answers strictly in the order of the questions, beginning each on a new page.

What are the characteristic features of each of the following: (a) horizontal combination; (b) a bill of exchange; (c) bimetallism; (d) marginal cost; (e) subsidiary coinage?
Give four important economic advantages of (a) the complex division of labor; (b) large-scale production; (c) the corporate form of organization.
Indicate any important connections existing between (a) the corporation and large-scale production; (b) large-scale production and dumping; (c) dumping and a protective tariff; (d) a protective tariff and the geographical division of labor.
What conditions of demand and supply tend to promote, what to impede, organized speculation? What are the functions, and what the chief consequences of, organized speculation in agricultural products?
In what ways, if at all, is monopoly price affected by (a) cost of production per unit? (b) an elastic demand for the product? Illustrate by diagrams, assuming conditions of (1) constant cost, (2) decreasing cost.
Briefly describe the Panic of 1907 in New York. What provisions of the Federal Reserve Act do you consider most likely to be effective in preventing or allaying future financial panics in the United States? Give your reasons in detail.
What has been the general course of the sterling exchange rate since the beginning of 1914? What factors have been influential in causing changes in the rate? How has each factor operated?

Source note: This mid-year examination was found at Harvard University Archives. Department of Economics, Course reading lists, syllabi, and exams 1913-1992. (UA V 349.295.6) Box 1, Folder “Economics I, Final Exams 1913-1939”.

ECONOMICS A: Final Examination [1915-16]

Plan your answers carefully before writing. Write concisely. Arrange your answers strictly in the order of the questions, beginning each on a new page.

What is meant by (a) marginal cost; (b) the representative firm? How, if at all, is marginal cost connected with the short- and long-time values of (a)fresh vegetables; (b) wheat; (c)a railroad rate; (d) a gold dollar?
Explain: (a) free coinage; (b) undervalued metal; (c) overissue; (d) “creation of deposits”; (e) bank reserve; (f) currency premium.
“Think of it! British ships are bringing in foreign tires; British money is going abroad to pay for them¹; and British motorists are using them. The available supplies of British-made tires are ample for all needs. Imported tires are inessentials; they hurt British credit², they lower the exchange of the English pound³, they increase freights⁴, they make necessities dearer⁵, and increase our national indebtedness⁶.” To what extent is the reasoning valid at the several points indicated?
Explain what is meant by (a) the unearned increment of land; (b) “the unearned increment of railways”; (c) increment taxes; (d)the incidence of taxes on land; (e) the Single Tax.
What effects upon wages, if any, should you expect to result from (a) free industrial education; (b) collective bargaining; (c) limitation of output by organized labor; (d) introduction of labor-saving machinery?
What should you expect to be the effect of immigration into the United States on (a) the increase of population here; (b) wages in the United States; (c) American urban rents; (d) profits of American business men?
What is to be said for and against (a) unemployment insurance; (b) compulsory arbitration for public service industries; (c) profit-sharing as an agency for industrial peace?
Explain: (a) restraint of trade at common law; (b) restraint of trade under United States statute law; (c) “rule of reason”; (d) “unfair competition”; (e) Kartel.

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Statistics (Day)

ECONOMICS 1a¹: Course announcement [1914-15]

[Economics] 1a ¹hf. Statistics. Half-course (first half-year). Mon., Wed., Fri., at 11. Asst. Professor DAY, assisted by Mr. F. E. RICHTER.

This course will deal primarily with the elements of statistical method. The following subjects will be considered: methods of collecting and tabulating data; the construction and use of diagrams; the use and value of the various types and averages; index-numbers; dispersion; interpolation; correlation. Special attention will be given to the accuracy of statistical material. In the course of this study of statistical method, examples of the best statistical information will be presented, and the best sources will be indicated. Population and vital statistics will be examined in some measure, but economic statistics will predominate.

Laboratory work in the solution of problems and the preparation of charts and diagrams will be required.

ECONOMICS 1a¹: Enrollment [1915-16]

[Economics] 1a ¹hf. Asst. Professor Day, assisted by Mr. Cox. — Statistics.

Total 44: 2 Graduates, 17 Seniors, 18 Juniors, 7 Other.

ECONOMICS 1a¹: Final Examination [1915-16]

What is meant by “the statistical method”? What is the scientific importance of the method? What are its limitations?
Describe concisely the essential steps in the preparation for a population census.
Sketch briefly the history of wage statistics in the United States.
Describe in detail, and criticize, the Babson method of forecasting business conditions.
Explain briefly: (a) law of statistical regularity; (b) probable error; (c) series; (d) mode; (e) the normal frequency curve; (f) skewness.
Formulate a set of rules for the construction of frequency tables and graphs.
By what different statistical devices may the structure — or distribution — of two different groups of data be compared?
Explain briefly: correlation; ratio of variation.
Criticise fully the following statement: “A very large degree of regression — that is, a large deviation of the line of regression from the line of equal proportional variation — indicates a slight degree of correlation.”

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Accounting (Davis)

ECONOMICS 1b²: Course Announcement [1914-15]

[Economics] 1b ²hf. Accounting. Half-course (second half-year). Lectures, Mon., Wed., and (at the pleasure of the instructor) Fri., at 1.30; problems and laboratory practice, two hours a week. Dr. J. S. Davis, assisted by Mr. F. E. RICHTER and—.

This course will deal with the construction and the interpretation of accounts of various types of business units, designed to show the financial status at a particular time, the financial results obtained during a period of time, and the relation between the results and the contributing factors. In other words, it will be concerned with the measurement, in terms of value, of economic instruments, forces, products, and surpluses.

Some attention will necessarily be given to the fundamentals of book-keeping, but emphasis will be placed chiefly upon the accounting principles underlying valuation and the determination of profits and costs. Problem work will be regularly assigned, and published reports of corporations will serve as material for laboratory work.

ECONOMICS 1b²: Enrollment [1915-16]

[Economics] 1b²hf. Dr. J. S. Davis, assisted by Mr. Cox. — Accounting.

Total 116: 49 Seniors, 62 Juniors, 3 Sophomores, 2 Other.

ECONOMICS 1b²: Final Examination [1915-16]

Be concise. Reserve at least 45 minutes for Question 8. If desired, one of the first five questions may be omitted.

What purposes are served by a Journal? a Ledger? Is it possible to keep complete and accurate accounts with these books alone?
b. Name five other account books commonly found, and indicate briefly the nature and special function of each.
Explain briefly: posting, contingent liability, corporate surplus, amortization table, secret reserve.
With respect to each of the following, indicate (preferably in tabular form) (a) whether it would normally show a debit or credit balance, (b) whether it would appear on balance sheet or income statement, and (c) what kindof account it represents.

Rentals of Properties Owned
Sinking Fund Securities
Insurance Unexpired
Reserve for Accrued Depreciation
Depreciation on Equipment
Premium on Stock Issued
Advances to Subsidiary Companies
Extraordinary Flood Damages

Draft journal entries (omiting explanations) for the following transactions of the General Utility Company:
1. Sale of six desks to Jackson & Jackson, @ $15, 30 days, receiving in part payment their 30-day note for $50.
2. Declaring dividends of $200,000, setting aside out of current income a fire insurance reserve of $100,000, and adding the balance of the year’s income ($60,000) to the surplus.
3. Making the semi-annual interest payment on a million-dollar 6 per cent bond issue, the bond premium being simultaneously amortised to the extent of $2000.
4. Loss by fire of a building which cost $60,000, and upon which depreciation of $10,000 had accrued and been allowed for.
What is the purpose of a balance sheet? What are its essential elements? What are the main items or groups of items on the balance sheet of a railroad company? At what points are balance sheets frequently defective, inaccurate, or misleading?
Do the following, in a railroad report, ordinarily signify improvement or retrogression? Under what circumstances, if any, might each signify the opposite? How could you ascertain which was actually signified?
1. Decline in operating ratio.
2. Increase in maintenance of freight cars per freight car.
3. Decrease in freight train miles.
Explain the purpose of the “funding accounts peculiar” to governmental accounting, and illustrate their use.
b. What accounting distinctions are of especial importance in municipal accounting?
Below are comparative figures (in thousands of dollars) of a company manufacturing railway equipment. Summarize what they reveal of its history, condition, and policy, commending or criticising the statements or policy as occasion requires.

Income Account, Years ended December 31
	1907	1908	1909	1910	1911	1912	1913
Gross Earnings	Not reported	5,920	7,843	10,035	6,160	9,041	7,688
Operating and Mfg. Expenses, etc.	“	4,775	5,782	7,734	4,793	6,600	6,216
Depreciation and Maintenance	“	170	194	350	150	360	*
Net Earnings	2,320	975	1,866	1,951	1,217	2,081	1,472
Bond Interest	217	209	203	196	232	357	350
Dividends	1,485	1,350	945	945	945	945	945
Surplus for the Year	618	**584	718	810	40	779	177

*Included in “operating expenses.” **Deficit.

General Balance Sheet, December 31
Assets	1907	1908	1909	1910	1911	1912	1913
Plants, Properties, etc.	30,291	30,536	30,568	30,267	33,746	33,373	33,320
Inventories	2,341	1,914	1,927	2,210	1,622	1,927	1,593
Stocks, Bonds, etc.	185	217	222	242	400	704	686
Accounts Receivable	2,349	1,212	1,667	1,464	1,148	1,986	1,411
Other Items	84	75	38	32	28	41	48
Cash	264	344	382	871	1,484	1,225	1,814
Total	35,514	34,298	34,804	35,086	38,428	39,256	38,872

Liabilities
Common Stock	13,500	13,500	13,500	13,500	13,500	13,500	13,500
Preferred Stock (7% cumulative)	13,500	13,500	13,500	13,500	13,500	13,500	13,500
Bonded Debt	4,223	4,083	3,945	3,808	7,172	7,037	6,901
Accounts Payable	1,239	588	672	212	148	350	186
Bills Payable	50	200	…	…	…	…	…
Reserves for Dividends, Interest, Taxes, etc.	147	156	197	266	268	251	260
Surplus	2,855	2,271	2,990	3,800	3,840	4,618	4,525
Total	35,514	34,298	34,804	35,086	38,428	39,256	38,872

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European Industry and Commerce in the Nineteenth Century (Gay)

ECONOMICS 2a¹: Course announcement [1914-15]

[Economics] 2a¹hf. European Industry and Commerce in the Nineteenth Century. Half-course(first half-year).Tu., Th., Sat., at 9. Professor GAY, assisted by—.

Course 2a undertakes to present the general outlines of the economic history of western Europe since the Industrial Revolution. Such topics as the following will be discussed: the economic aspects of the French Revolution and the Napoleonic régime, the Stein-Hardenberg reforms, the Zoll-Verein, Cobden and free trade in England, labor legislation and social reform, nationalism and the recrudescence of protectionism, railways and waterways, the effects of transoceanic competition, the rise of industrial Germany.

Since attention will be directed in this course to those phases of the subject which are related to the economic history of the United States, it may be taken usefully before Economics 2b.

ECONOMICS 2a¹: Enrollment [1915-16]

[Economics] 2a¹hf. Professor Gay, assisted by Messrs. A. H. Cole and Ryder.— European Industry and Commerce in the Nineteenth Century.

Total 94: 23 Graduates, 17 Seniors, 33 Juniors, 16 Sophomores, 5 Other.

ECONOMICS 2a¹: Final Examination [1915-16]

Speaking of the industrial revolution in England, a writer says: “It is to a revolution in three industries, — agriculture, cotton and iron, — that this transformation is principally due.” Do you agree? Give your reasons.
Account historically for the present condition of the agricultural laborer in England, in East Prussia. What have been the social consequences in both cases?
Hadley says of railway construction: “The Englishman built for the present and future both; the American chiefly for the future.” Account for this difference, and show its effect on capitalization, on service and on inter-railway relations.
Trace the influence of the agrarian and industrial interests on tariff legislation in Germany and France since 1880.
Give an account of the development of the iron and steel industry in England and Germany in the last half of the nineteenth century. Account for the later development in the latter country, and trace the competition between the Ruhr and Lorraine districts.

(Take one of the following two questions)

Comment on Ashley’s statement regarding English exports:

“We shall more and more exhaust our resources of coal, and we shall devote ourselves more and more to those industries which flourish on cheap labor.”

How have the laboring people of England by voluntary collective action tried to meet the exigencies of the modern industrial system? Compare with Germany.

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Economic and Financial History of the United States (Gay)

ECONOMICS 2b²: Course Announcement [1914-15]

[Economics] 2b ²hf. Economic and Financial History of the United States. Half-course (second half-year). Tu., Th., Sat., at 9. Professor GAY, assisted by —.

The following are among the subjects considered: aspects of the Revolution and commercial relations during the Confederation and the European wars; the history of the protective tariff policy and the growth of manufacturing industries; the settlement of the West and the history of transportation, including the early canal and turnpike enterprises of the states, the various phases of railway building and the establishment of public regulation of railways; banking and currency experiences; various aspects of agrarian history, such as the public land policy, the growth of foreign demand for American produce and the subsequent competition of other sources of supply; certain social topics, such as slavery and its economic basis, and the effects of immigration.

ECONOMICS 2b²: Enrollment [1915-16]

[Economics] 2b ²hf. Professor Gay, assisted by Messrs. A. H. Cole and Ryder. — Economic and Financial History of the United States.

Total 94: 23 Graduates, 17 Seniors, 33 Juniors, 16 Sophomores, 5 Other.

ECONOMICS 2b²: Final Examination [1915-16]

“The expulsion of the French from Canada made it possible (for the American colonies) to dispense with English protection. The commercial restrictions made it to their interest to do so.” Do you agree? Give your reasons for or against.
“As to the strength of slavery as an institution in Southern society after it had been thoroughly established, its basis was partly economic and partly social.” Explain. Which do you think the more fundamental? Why?
(a) Give the reasons for the turn in our favor of the balance of trade in the seventies. (b) Into what periods would you divide the history of our export trade since that time? Characterize each period. What do you think are the probabilities for the future? Give your reasons.
Compare the marketing of grain with the marketing of wool. Why the difference?
In how far were the policies of the national government responsible for the panics of 1837 and 1893? Give your reasons.
(a) Describe briefly the development of the iron industry in the United States. (b) What effect has this development had upon American shipping before and after 1870?

The following questions are for graduates who did not take the tests:

Take one of the following subjects: (a) the history of American agriculture since 1860; or (b) Manufacturing development in the United States before 1860; or (c) the history of American transportation since 1860. Outline the periods and topics you would discuss in lecturing on it. Give also a short list of the chief books or papers you would consult, with critical estimates.
What criteria would you hold most significant in determining the successful application of protection to young industries. Draw your evidence from the manufactures we have considered.

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Money, Banking, and Commercial Crises (Anderson)

ECONOMICS 3: Course Announcement [1914-15]

[Economics] 3. Money, Banking, and Commercial Crises. Mon., Wed., Fri., at 2.30. Asst. Professor ANDERSON, assisted by —.

This course undertakes a theoretical, descriptive, and historical study of the main problems of money and banking. Historical and descriptive materials, drawn from the principal systems of the world, will be extensively used, but will be selected primarily with reference to their significance in the development of principles, and with reference to contemporary practical problems. Foreign exchange will be studied in detail. Attention will be given to those problems of money and credit which appear
most prominently in connection with economic crises. Though emphasis will be thrown upon the financial aspects of crises, the investigation will cover also the more fundamental factors causing commercial and industrial cycles.

ECONOMICS 3: Enrollment [1915-16]

[Economics] 3. Asst. Professor Anderson, assisted by Mr. Silberling. — Money, Banking and Commercial Crises.

Total 69: 2 Graduates, 25 Seniors, 31 Juniors, 3 Sophomores, 8 Other.

ECONOMICS 3: Final Examination [1915-16]

Omit either question 6 or 7.

State and discuss Fisher’s version of the quantity theory of money.
Discuss the relations of the banks and the stock exchange.
Contrast the Bank of England with the Banque de France:
(a) with reference to reserves;
(b) with reference to the discount rate;
(c) with reference to specie payments;
(d) with reference to relations with the government;
(e) with reference to foreign exchange policy.
In precisely what ways does our Federal Reserve system seek to remedy the defects in our banking system?
Discuss the development of State banking since the Civil War. Compare it with the development of the National Bank system. Explain the tendencies.
Give an account of the main movements in the prices of the war stocks since Oct. 1, 1915, and explain these movements as far as you can: (a) by reference to general causes; (b) by reference to factors affecting particular securities as far as you know them.
Explain the movements in demand sterling since the outbreak of the War. Give figures and dates as accurately as you can.
Summarize Wesley Mitchell’s theory of business cycles.
For what purposes does the farmer need credit? What is the extent of agricultural indebtedness in different sections in the United States? What agencies supply credit to the farmer? What rates of interest does the farmer pay in different parts of the country?
Contrast the Panic of 1893 with the Panic of 1914.

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Economics of Transportation (Ripley)

ECONOMICS 4a¹: Course Announcement [1914-15]

[Economics] 4a ¹hf. Economics of Transportation. Half-course (first half-year). Tu., Th., Sat., at 11. Professor RIPLEY, assisted by —.

A brief outline of the historical development of rail and water transportation in the United States will be followed by a description of the condition of transportation systems at the present time. The four main subdivisions of rates and rate-making, finance, traffic operation, and legislation will be considered in turn. The first deals with the relation of the railroad to shippers, comprehending an analysis of the theory and practice of rate-making. An outline will be given of the nature of railroad securities, the principles of capitalization, and the interpretation of railroad accounts. Railroad operation will deal with the practical problems of the traffic department, such as the collection and interpretation of statistics of operation, pro-rating, the apportionment of cost, depreciation and maintenance, etc. Under legislation, the course of state regulation and control in the United States and Europe will be traced.

ECONOMICS 4a¹: Enrollment [1915-16]

[Economics] 4a ¹hf. Professor Ripley, assisted by Mr. Cameron. — Economics of Transportation.

Total 121: 3 Graduates, 47 Seniors, 54 Juniors, 7 Sophomores, 10 Other.

ECONOMICS 4a¹: Final Examination [1915-16]

Discuss the propriety of the capitalization by a railroad of a surplus which had gradually accumulated during a period of twenty or more years. Would the recency of the surplus make any difference? How about the geographical location of the road?
Describe the existing situation as concerns the relation of American railroads to their employees.
What are the prime essentials of a railroad reorganization, necessary to insure its success?
In case of the creation of a Congressional commission on railway legislature, what are the topics which it would probably consider?
Outline the means which have been employed to bring about unity of action among the hard coal roads as to prices.
State briefly for the leading countries which have taken over their railways as government enterprises, the peculiar circumstances which have no counterpart in the American situation.
What is the trouble with the so-called basing point system?
What is the present condition of affairs concerning the relation of railroads to water lines, coastwise or lake?
When and how did the conflict of Federal and state powers over regulation of common carriers first become acute?
Why was the United States Commerce Court ‘abolished’ judging by the tenor of its decisions?

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Economics of Corporations (Ripley)

ECONOMICS 4b²: Course Announcement [1914-15]

[Economics] 4b ²hf. Economics of Corporations. Half-course (second half-year). Tu., Th., Sat., at 11. Professor RIPLEY, assisted by —.

This course will treat of the fiscal and industrial organization of capital, especially in the corporate form. The principal topic considered will be industrial combination and the so-called trust problem. This will be broadly discussed, with comparative study of conditions in the United States and Europe. The development of corporate enterprise, promotion, and financing, accounting, liability of directors and underwriters, will be described, not in their legal but in their economic aspects; and the effects of industrial combination upon efficiency, profits, wages, prices, the development of export trade, and international competition will be considered in turn.

ECONOMICS 4b²: Enrollment [1915-16]

[Economics] 4b ²hf. Professor Ripley, assisted by Mr. Cameron. — Economics of Corporations.

Total 115: 9 Graduates, 39 Seniors, 49 Juniors, 9 Sophomores, 1 Freshman, 8 Other.

ECONOMICS 4b²: Final Examination [1915-16]

Discuss critically the “economics of Industrial Combination.”
What peculiarity of the American situation has given especial prominence to the holding company, in contrast with European countries?
What principle of corporate finance, not of commercial practice, is illustrated by the experience of the following companies? Limit each answer to five words.
1. U.S. Leather Co.
2. International Mercantile Marine Co.
3. American Ice Co.
4. U.S. Steel Corporation.
5. American Tobacco Co.
6. The Glucose combination.
7. The Asphalt combination.
What is the most insistent feature in an industrial reorganization? How is the desired result commonly brought about?
Outline the relation of organized labor to the amendment of the Sherman Act in 1914.
“Competitors must not be oppressed or coerced. Fraudulent or unfair, or oppressive rivalry must not be pursued….Then, too, prices must not be arbitrarily fixed or maintained … an artificial scarcity must not be produced….The public is also injured if quality be impaired….Other injuries are done, if the wages of the laborer be arbitrarily reduced, and if the price of raw material be artificially depressed.”
Associate each of the foregoing practices named in a recent judicial opinion with some particular industrial combination.
How successful has the Department of Justice been in effecting the corporate dissolution of combinations? Outline the experience.
Describe those factors of British corporate financial practise which are essentially different from our own.
Compare the organization of the American and German combinations in the iron and steel industries; briefly, point by point.
If high prices constitute a grievance of the public against industrial combination, what are the objections to an attempt to regulate these prices directly by law? Discuss the proposition from as many points of view as possible.

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Public Finance, including the Theory and Methods of Taxation (Bullock)

ECONOMICS 5: Course Announcement [1914-15]

[Economics] 5. Public Finance, including the Theory and Methods of Taxation. Mon., Wed., Fri., at 9. Professor BULLOCK.

This course covers the entire field of public finance, but emphasizes the subject of taxation. After a brief survey of the history of finance, attention is given to public expenditures, commercial revenues, administrative revenues, and taxation, with consideration both of theory and of the practice of various countries. Public credit is then studied, and financial legislation and administration are briefly treated.

Systematic reading is prescribed, and most of the exercises are conducted by the method of informal discussion. Candidates for distinction will be given an opportunity to write theses.

Graduate students are advised to elect Economics 31.

ECONOMICS 5: Enrollment [1915-16]

[Economics] 5. Professor Bullock. — Public Finance, including the Theory and Methods of Taxation.

Total 60: 27 Seniors, 28 Juniors, 5 Other.

ECONOMICS 5: Final Examination [1915-16]

Trace historically the position occupied by the customs revenue in the finances of the United States. What principles should be observed in establishing a system of customs duties? Discuss the incidence of these duties.
To what extent and for what reasons has the working of the general property tax in Switzerland been different from the working of the same tax in the United States?
Discuss briefly and concisely the characteristic features of three of the following: (a) The impôt-personnel mobilier; (b) The French business tax; (c) The Prussian business tax; (d) inheritance taxes in the United States.
Explain and discuss critically the methods employed in the taxation of incomes in England and in Prussia.
(a) What are the different theories regarding the best method of apportioning taxes?
(b) Distinguish between “funded” and “unfunded” incomes. On what grounds can the heavier taxation of funded incomes be urged?
What principles should govern the prices charged for the services of public commercial undertakings?
Enumerate and discuss critically all the maxims, or canons, of taxation, with which you are familiar.
State either the case for or the case against the single tax.

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Trade Unionism and Allied Problems (Ripley)

ECONOMICS 6a¹: Course Announcement [1914-15]

[Economics] 6a ¹hf. Trade Unionism and Allied Problems. Half-course (first half-year). Tu., Th., Sat., at 10. Professor RIPLEY, assisted by —.

This course will deal mainly with the economic and social relations of employer and employed. Among the topics included will be: the history of unionism; the policies of trade unions respecting wages, machinery, output, etc.; collective bargaining; strikes; employers’ liability and workmen’s compensation; efficiency management; unemployment, etc., in the relation to unionism, will be considered.

Each student will make at least one report upon a labor union or an important strike, from the original documents. Two lectures a week, with one recitation, will be the usual practice.

ECONOMICS 6a¹: Enrollment [1915-16]

[Economics] 6a ¹hf. Professor Ripley, assisted by Mr. Weisman. — Trade-Unionism and Allied Problems.

Total 61: 24 Seniors, 29 Juniors, 1 Sophomore, 7 Other.

ECONOMICS 6a¹: Final Examination [1915-16]

Illustrate by a sketch the interrelation between the constituent parts of the American Federation of Labor.
Criticise the following premium wage plans for mounting “gem” electric lamp bulbs.

Daily Output	Wage per thousand
Under 900	$1.03
900-1000	$1.07
1000-1100	$1.12
Over 1100	$1.17

Have you any impression whether Webb favors craft or industrial unionism? What instances does he cite?
Define (a) Federal union; (b) Device of the Common Rule? (c) Jurisdiction dispute.
Is there any real difference between an “irritation strike ” of the I. W. W.and the British “strike in detail”?
Contrast the British and American policies of trade union finance, showing causes and results.
Describe the Hart, Schaffner and Marx plan of dealing with its employees.
Is the Standard Wage merely the minimum for a given trade or not? Discuss the contention that it penalizes enterprise or ability.
Is there any relation logically between the attitude of labor toward piece work and the relative utilization of machinery?
What is the nature of the business transacted at the annual convention of the American Federation of Labor?

________________________

Economic Theory (Taussig)

ECONOMICS 7a¹: Course Announcement [1916-17]

[Economics] 7a¹hf. Economic Theory. Half-course(first half-year). Tu., Th., at 2.30, and (at the pleasure of the instructor) Sat., at 11. Professor TAUSSIG.

Course 7a undertakes a survey of economic thought from Adam Smith to the present time. Considerable parts of the Wealth of Nations and of J. S. Mill’s Principles of Political Economy will be read, as well as selected passages from the writings of contemporary economists. No theses or other set written work will be required. The course will be conducted chiefly by discussion. It forms an advantageous introduction to Economics 7b.

Students who have attained in Economics A a grade sufficient for distinction (A or B) are admitted without further inquiry. Others must secure the consent of the instructor.

ECONOMICS 7a¹: Enrollment [1915-16]

[Economics] 7a ¹hf. Professor Taussig. — Economic Theory.

Total 27: 12 Graduates, 5 Seniors, 5 Juniors, 1 Sophomore, 4 Other.

ECONOMICS 7a¹: Final Examination [1915-16]

Arrange your answers strictly in the order of the questions.

“The wages of the inferior classes of workmen, I have endeavored to show in the first book, are everywhere necessarily regulated by two different circumstances: the demand for labor, and the ordinary or average price for provisions. The demand for labor, according as it happens to be either increasing, stationary, or declining, or to require an increasing, stationary or declining population, regulates the subsistence of the laborer and determines in what degree it shall be either liberal, moderate, or scanty.”
Explain (1) in what way Adam Smith analyzed the “demand for labor”; (2) the nature of the reasoning which led to his conclusions regarding the influence on wages of increasing or declining national wealth.
Explain in what way J. S. Mill analyzed the demand for labor, and wherein his analysis resembled Adam Smith’s, wherein it differed; and consider whether Mill’s conclusions regarding the influence of increasing national wealth on wages were similar to Adam Smith’s.
Explain:
(a) The Physiocratic notion concerning productive labor;
(b) Adam Smith’s distinction between productive and unproductive labor;
(c) Adam Smith’s doctrine as to the way in which equal capitals employed in agriculture, in manufactures, in wholesale or retail trade, put in motion different quantities of productive labor.
What reasoning led Adam Smith to arrange industries in the order of productiveness indicated in (c) and what have you to say in comment on it
Why, according to Adam Smith, is there rent from land used for growing grain? from land used for pasture? from mines? What would a writer like Mill say of these doctrines of Adam Smith’s?
How does Mill (following Chalmers) explain the rapid recovery of countries devastated by war? Do you think the explanation sound?
Wherein is Mill’s analysis of the causes of differences in wages similar to Adam Smith’s, wherein different?
What, according to Mill, is the foundation of private property? What corollaries does he draw as regards inheritance and bequest? What is your instructor’s view on the justification of inheritance and bequest?
Explain wherein there are or are not ” uman costs” in the savings of the rich, of the middle classes, and of the poor; and wherein there are or are not “economic costs” in these several savings.
Hobson says: (a) that” the traditional habits of ostentatious waste and conspicuous leisure . . . induce futile extravagance in expenditure”; (b) that “the very type of this expenditure is a display of fireworks; futility is of its essence”; (c) that “the glory of the successful sportsman is due to the fact that his deeds are futile. And this conspicuous futility is at the root of the matter. The fact that he can give time, energy, and money to sport testifies to his possession of independent means.” Consider what is meant by “futility” in these passages; and give your own opinion on the significance of “sport.”
Explain the grounds on which Hobson finds little promise for the future in (a) consumers’ cooperation; (b) producers’ cooperation; (c) syndicalism.

________________________

Principles of Sociology (Carver)

ECONOMICS 8: Course Announcement [1916-1917]

[Economics] 8. Principles of Sociology. Mon., Wed., Fri., at 9. Professor CARVER, assisted by Mr. —.

A study in social adaptation, both passive and active. Problems of race improvement, moral adjustment, industrial organization, and social control are considered in detail. [Note: in 1916-17 this became a two-term course]

ECONOMICS 8¹: Enrollment [1915-16]

[Economics] 8 ¹hf. Professor Carver, assisted by Mr. Bovingdon.— Principles of Sociology.

Total 130: 14 Graduates, 51 Seniors, 45 Juniors, 5 Sophomores, 15 Other.

ECONOMICS 8¹: Final Examination [1915-16]

How would you distinguish between progress and change?
Just what is meant by self-centered appreciation? Should the range of the average individual’s appreciations be widened? Give reasons for your answer.
What do you think of the economic test of the individual’s fitness for survival?
What is the function of religion? To what extent do you think that it is performing its function in the United States?
What is the function of an educational institution? To what extent do you think that Harvard University is performing its function?
What effect do you think that the increase of government ownership and operation of industrial capital in the United States will have upon the “open road to talent”?

________________________

Economics of Agriculture (Carver)

ECONOMICS 9¹: Course Announcement [1914-15]

[Economics] 9 ¹hf. Economics of Agriculture. Half-course (first half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 10. Professor CARVER.

A study of the relation of agriculture to the whole industrial system, the relative importance of rural and urban economics, the conditions of rural life in different parts of the United States, the forms of land tenure and methods of rent payment, the comparative merits of large and small holdings, the status and wages of farm labor, the influence of farm machinery, farmers’ organizations, the marketing and distribution of farm products, agricultural credit, the policy of the government toward agriculture, and the probable future of American agriculture.

ECONOMICS 9¹: Enrollment [1915-16]

[Economics] 9 ¹hf. Professor Carver, assisted by Mr. Shaulis.— Economics of Agriculture.

Total 58: 4 Graduates, 32 Seniors, 16 Juniors, 3 Sophomores, 3 Other.

ECONOMICS 9¹: Final Examination [1915-16]

What are the factors which determine the migration of rural people; of urban people?
What are the chief periods in the development of American Agriculture, and how would you characterize each period?
In what ways could a citizen acquire title to a piece of the public land of the United States at the following dates, 1850, 1870, 1900?
What do you regard as the necessary steps to the solution of the problem of rural credit in the United States? Explain your reasons.
What are the essentials to be achieved in the building up of a market for agricultural products?
Discuss the place of animal husbandry in the economy of the farm and also in the economy of food production from the standpoint of society in general.
Summarize the effects of modern farm machinery. Discuss the degree of its utilization in different sections of the United States.
Outline briefly a scheme for the organization of a rural community, and give your reasons for the main features of your scheme.
Outline the chief areas of production in the United States of the following crops: Potatoes, wheat, oats, hay and forage.
What are the chief forms of tenancy in the United States, and where is each form most common?

________________________

Economic Theory (Taussig)

ECONOMICS 11: Course Announcement [1914-15]

[Economics] 11. Economic Theory. Mon., Wed., Fri., at 2.30. Professor TAUSSIG.

Course 11 is intended to acquaint the student with some of the later developments of economic thought, and at the same time to train him in the critical consideration of economic principles and the analysis of economic conditions. The exercises are accordingly conducted mainly by the discussion of selected passages from the leading writers; and in this discussion the students are expected to take an active part. The writings of J. S. Mill, Cairnes, F. A. Walker, Clark, Marshall, Böhm-Bawerk, and other recent authors, will be taken up. Attention will be given chiefly to the theory of exchange and distribution.

ECONOMICS 11: Enrollment [1915-16]

[Economics] 11. Professor Taussig. — Economic Theory.

Total 29: 18 Graduates, 1 Grad.Bus., 6 Seniors, 3 Radcliffe, 1 Other.

ECONOMICS 11: Mid-year Examination [1915-16]

Arrange your answers strictly in the order of the questions.

On what grounds is it contended that there is a circle in Walker’s reasoning on the relation between wages and business profits? What is your opinion on this rejoinder: that Walker, in speaking of the causes determining wages, has in mind the general rate of wages, whereas in speaking of profits he has in mind the wages of a particular grade of labor?
According to Ricardo, neither profits of capital nor rent of land are contained in the price of exchangeable commodities, but labor only.” — Thünen.
Is there justification for this interpretation of Ricardo?
“Instead of saying that profits depend on wages, let us say (what Ricardo really meant) that they depend on the cost of labour. . . . The cost of labour is, in the language of mathematics, a function of three variables: the efficiency of labor; the wages of labour (meaning thereby the real reward of the labourer); and the greater or less cost at which the articles composing that real reward can be produced or procured.” — J. S. Mill.
Is this what Ricardo really meant? Why the different form of statement by Mill? What comment have you to make on Mill’s statement?
State resemblances and differences in the methods of analysis, and in the conclusions reached, between (a) the temporary equilibrium of supply and demand (e.g. in a grain market), as explained by Marshall; (b) “two-sided competition,” as explained by Böhm-Bawerk; (c) equilibrium under barter, as explained by Marshall.
Explain concisely what is meant in the Austrian terminology by “value,” “subjective value,” “subjective exchange value,” “objective exchange value.”
Does the introduction of “subjective exchange value” into the analysis of two-sided competition lead to reasoning in a circle?
“Suppose a poor man receives every day two pieces of bread, while one is enough to allay the pangs of positive hunger, what value will one of the two pieces of bread have for him? The answer is easy enough. If he gives away the piece of bread, he will lose, and if he keeps it he will secure, provision for that degree of want which makes itself felt whenever positive hunger has been allayed. We may call this the second degree of utility. One of two entirely similar goods is, therefore, equal in value to the second degree in the scale of utility of that particular class of goods. . . . Not only has one of two goods the value of the second degree of utility, but either of them has it, whichever one may choose. And three pieces have together three times the value of the third degree of utility, and four pieces have four times the value of the fourth degree. In a word, the value of a supply of similar goods is equal to the sum of the items multiplied by the marginal utility.” — Wieser.
Do you think this analysis tenable? and do you think it inconsistent with the doctrine of total utility and consumer’s surplus?
“If the modern theory of value, as it is commonly stated, were literally true, most articles of high quality would sell for three times as much as they actually bring.” What leads Clark to this conclusion? and do you accept it?

Source note: Mid-term exam from Harvard University Archives, Prof. F. W. Taussig, Examination Papers in Economics 1882-1935 (Scrapbook).

ECONOMICS 11: Final Examination [1915-16]

Arrange your answers strictly in the order of the questions. Allow time for careful revision of your answers.

“The productivity of capital is, like that of land and labor, subject to the principle of marginal productivity, which is, as we have seen, a part of the general law of diminishing returns. Increase the number of instruments of a given kind in any industrial establishment, leaving everything else in the establishment the same as before, and you will probably increase the total product of the establishment somewhat, but you will not increase the product as much as you have the instruments in question. Introduce a few more looms into a cotton factory without increasing the labor or the other forms of machinery, and you will add a certain small amount to the total output…. That which is true of looms in this particular is also true of ploughs on a farm, of locomotives on a railway, of floor space in a store, and of every other form of capital used in industry.” Is this in accord with Clark’s view? Böhm-Bawerk’s? Marshall’s? Your own?
What is the significance of the principle of quasi-rent for
(a) the “single tax” proposal;
(b) Clark’s doctrine concerning the specific product of capital;
(c) the theory of business profits.
Explain what writers use the following terms and in what senses: Composite quasi-rent; usance; implicit interest; joint demand.
On Cairnes’ reasoning, are high wages of a particular group of laborers the cause or the result of high value (price) of the commodities made by them? On the reasoning of the Austrian school, what is the relation between cost and value? Consider differences or resemblances between the two trains of reasoning.
“This ‘exploitation theory of interest’ consists virtually of two propositions: first, that the value of any product usually exceeds its cost of production; and, secondly, that the value of any product ought to be exactly equal to its cost of production. The first of these propositions is true, but the second is false. Economists have usually pursued a wrong method in answering the socialists, for they have attacked the first proposition instead of the second. The socialist is quite right in his contention that the value of the product exceeds the cost. In fact, this proposition is fundamental in the whole theory of capital and interest. Ricardo here, as in many other places in economics, has been partly right and partly wrong. He was one of the first to fall into the fallacy that the value of the product was normally equal to its cost, but he also noted certain apparent ‘exceptions,’ as for instance, that wine increased in value with years.” Is this a just statement of Ricardo’s view? Of the views of economists generally? In what sense is it true, if in any, that value usually exceeds cost?
Explain carefully what Böhm-Bawerk means by

(a) social capital;
(b) the general subsistence fund;
(c) the average production period;
(d) usurious interest.

In what way does he analyze the relation between (b) and (c)?

Suppose ability of the highest kind in the organization and management of industry became as common as ability to do unskilled manual labor is now; what consequences would you expect as regards the national dividend? the remuneration of the business manager and of the unskilled laborer? Would you consider the readjusted scale of remuneration more or less equitable than that now obtaining?
What grounds are there for maintaining or denying that “profits” are (a) essentially a differential gain, (b) ordinarily capitalized as “common stock,” (c) secured through “pecuniary,” not “industrial” activity? What method of investigation would you suggest as the best for answering these questions?

________________________

The Distribution of Wealth (Carver)

ECONOMICS 12¹: Course Announcement [1916-17]

[Economics] 12. ¹hf. The Distribution of Wealth. Half-course (first half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 9. Professor CARVER.

An analytical study of the theory of value and its applications, the law of diminishing utility, the nature and meaning of cost, the significance of scarcity and its relation to the general problem of social adjustment, the law of variable proportions and its bearing upon the problem of a better distribution of wealth.

ECONOMICS 12¹: Enrollment [1915-16]

[Economics] 12 ¹hf. Professor Carver. — The Distribution of Wealth.

Total 6: 3 Graduates, 1 Senior, 2 Juniors.

ECONOMICS 12¹: Final Examination [1915-16]

Is there any close connection between economic value and moral value? Explain and justify your answer.
How would you harmonize the Ricardian doctrine of rent with the doctrine that rent is determined by the specific or net productivity of land?
What is cost and what are its leading forms at the present time? How is it related to wages, interest, and profits?
What is meant by the intensive and by the extensive margins of cultivation and how are they related each to the other?
Can you see any connection between the wage fund doctrine and the doctrine of non-competing groups? Explain and justify your answer.
What would be the main items of your program for improving the present distribution of wealth? Give your reasons for each item.

________________________

Statistics: Theory, Method, and Practice (Day)

ECONOMICS 13: Course Announcement [1914-15]

[Economics] 13. Statistics: Theory, Method, and Practice. Mon., Wed., Fri., at 9. Asst. Professor DAY.

The first half of this course is intended thoroughly to acquaint the student with the best statistical methods. Such texts as Bowley’s Elements of Statistics, Yule’s Introduction to the Theory of Statistics, and Zizek’s Statistical Averages, are studied in detail. Problems are constantly assigned to assure actual practice in the methods examined.

The second half of the course endeavors to familiarize the student with the best sources of economic statistical data. Methods actually employed in different investigations are analyzed and criticized. The organization of the various agencies collecting data is examined. Questions of the interpretation, accuracy, and usefulness of the published data are especially considered.

ECONOMICS 13: Enrollment [1915-16]

[Economics] 13. Asst. Professor Day. — Statistics: Theory, Method, and Practice.

Total 10: 8 Graduates, 2 Radcliffe.

ECONOMICS 13: Final Examination [1915-16]

Explain and criticize the following statistical table:

PER CENT OF FAMILY INCOME CONTRIBUTED BY EACH CLASS OF WORKERS BY INDUSTRIES¹
	Per cent of family income contributed by each class of workers in—
	Cotton industry		Ready-made clothing indus-try	Glass indus-try	Silk indus-try
	New England group	South-ern group	Ready-made clothing indus-try	Glass indus-try	Silk indus-try
Fathers	37.7	34.0	48.4	56.0	50.5
Mothers	32.4	27.9	26.8	25.1	33.0
Male children 16 years of age and over	31.1	27.3	36.5	37.8	37.0
Female children 16 years of age and over	42.6	35.2	39.7	26.7	35.1
Children 14 and 15 years of age	18.7	22.9	14.2	18.9	16.6
Children 12 and 13 years of age	14.3	17.6	10.0	15.7	13.3
Children under 12 years of age	² 3.6	13.5	10.0	15.7	13.3

¹These per cents apply only to the incomes of families having wage earners of the specified class.
²Based on incomes of two families, each having one child under 12 at work.

Enumerate the means by which a bureau, charged with the administration of a state registration law, may ascertain the completeness of birth registration in any registration district.
Describe and illustrate the construction of a logarithmic curve. What are the advantages and disadvantages of such a curve for the purpose of graphic presentation?
What is the logical distinction, if there be any, between a weighted and a simple arithmetic mean? What are the reasons for and against weighting? Under what conditions may weighting safely be omitted?
Retail price quotations for two articles are reported from fifty markets as follows:

Article A		Article B
Price per dozen	Number of markets reporting this price	Price per bushel	Number of markets reporting this price
21¢	1	$1.00	8
22¢	2	$1.05	12
23¢	7	$1.10	15
24¢	11	$1.15	10
25¢	15	$1.25	5
26¢	9		50
27¢	4
28¢	1
	50

Measure by the standard deviation the relative variability in price of these two commodities. Employ the short-cut method.

“Imagine an ideal republic, in some respects similar to that designed by Plato, where not only were all the children removed from their parents, but where they were all treated exactly alike. In these circumstances none of the differences between the adults could have anything to do with the differences of environments and all must be due to some differences in inherent factors. In fact, the environment correlation coefficient would be nil, whilst the heredity correlation coefficient might be high.”
Comment upon the italicized statement.
Outline a correlation study of two economic variables both of which tend to increase steadily with the growth of population, and both of which are sensitive to the fluctuations of the seasons and of the business cycle.
What conditions are essential to simple sampling?
The expected proportion of accidents per year in a certain industry is 150 per 1000 workers. A company employing 2500 workers reports 405 accidents during the year 1913. Assume that the conditions of simple sampling are met; analyze the returns to determine whether the difference between the actual and expected number of accidents is significant.

________________________

History and Literature of Economics to the year 1848 (Bullock)

ECONOMICS 14: Course Announcement [1914-15]

[Economics] 14. History and Literature of Economics to the year 1848. Mon., Wed., and (at the pleasure of the instructor) Fri., at 11. Professor BULLOCK.

The purpose of this course is to trace the development of economic thought from classical antiquity to the middle of the nineteenth century. Emphasis is placed upon the relation of economics to philosophical and political theories, as well as to political and industrial conditions.

A considerable amount of reading of prominent writers will be assigned, and opportunity given for the preparation of theses. Much of the instruction is necessarily given by means of lectures.

ECONOMICS 14: Enrollment [1915-16]

[Economics] 14. Professor Bullock. — History and Literature of Economics to the year 1848.

Total 14: 13 Graduates, 1 Radcliffe.

ECONOMICS 14: Final Examination [1915-16]

What did the mercantilists teach concerning: (a) economic structure; (b) economic functions; (c) economic ideals; and (d) economic policies?
At what important points does Adam Smith draw upon the works of earlier writers? What important original contributions does he make?
At what points are Smith’s ideas inadequately developed or inconsistent?
What important changes were made in English economic doctrines by Ricardo and Mill?
Give the rest of the examination period to writing an essay upon the life, works, and economic doctrines of any economist prior to Adam Smith.

________________________

Analytical Sociology (Anderson)

ECONOMICS 18a¹: Course Announcement [1916-17]

[Economics] 18a ¹hf. Analytical Sociology. Half-course (first half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 3.30. Asst. Professor ANDERSON.

The centre of this course will be in the problems of social psychology: the raw stuff of human nature, and its social transformations; imitation, suggestion and mob-mind; the individual and the social mind; social control and the theory of social forces; the relation of intellectual and emotional factors in social life. These problems will be studied in their relations to the whole field of social theory, which will be considered in outline, with some emphasis on the influence of physiographic factors and of heredity. Leading contemporary writers will be studied, and some attention will be given to the history of social theory. Instruction will be by lectures, discussion, and reports.

ECONOMICS 18a²: Enrollment [1915-16]

[Economics] 18a ²hf. Asst. Professor Anderson. — Analytical Sociology.

Total 18: 16 Graduates, 2 Seniors.

ECONOMICS 18a²: Final Examination [1915-16]

What is the bearing of the Mendelian theory on social problems?
What difference does it make for sociology whether or not we accept the doctrine of the inheritance of acquired characters? To what extent, if at all, and in what connections, does Giddings make use of this doctrine? How far, if at all, are his conclusions incompatible with Weismann’s doctrine?
Explain what is meant by the “social mind.” By “social values.”
Summarize the theory of McGee as to the origin of agriculture.
Compare the views of Boas and W. B. Smith as to the comparative roles of race and environment in the case of the American negro. What is your own view?
What did you get from your reading of Tarde? Of Le Bon? of Ross’ Social Psychology? Let your summaries be brief, but not vague! Differentiate the books.
Summarize Giddings’ chapter on Demogenic Association.
Illustrate the social transformation of the raw stuff of human nature by the case of either the instinct of workmanship, the sex instinct, or the instinct of flight and hiding.
What reading have you done for this course?

________________________

Public Finance (Bullock)

ECONOMICS 31: Course Announcement [1914-15]

[Economics] 31. Public Finance. Mon., Wed., and (at the pleasure of the instructor) Fri., at 10. Professor BULLOCK.

The course is devoted to the examination of the financial institutions of the principal modern countries, in the light of both theory and history. One or more reports calling for independent investigation will ordinarily be required. Special emphasis will be placed upon questions of American finance. Ability to read French or German is presupposed.

ECONOMICS 31: Enrollment [1915-16]

[Economics] 31. Professor Bullock. — Public Finance.

Total 16: 14 Graduates, 2 Seniors.

ECONOMICS 31: Final Examination [1915-16]

If you were writing a treatise on public finance how far would you utilize Adam Smith’s chapter on taxation?
What is Eheberg’s opinion concerning any two of the following taxes: the Ertragssteuern, the Wehrsteuer, and the property tax?
What is Leroy-Beaulieu’s opinion concerning any two of the following taxes: octrois, increment taxes, and the French patente?
With what different opinions concerning the incidence of the house tax are you familiar? State briefly your own opinion.
Discuss the doctrine that consumption taxes tend to be “absorbed,” and state your opinion concerning the practical conclusions that follow from it.
What is the incidence of the usual tax on mortgages in the United States?
Compare French and British direct taxation.
State the principles upon which a policy of public borrowing should be based. Should public debts be extinguished?

Sources:

Enrollment data:

Harvard University. Report of the President of Harvard College 1915-1916, pp. 59-61.

Examinations (except where noted):

Harvard University. Papers Set for Final Examinations in History, History of Religions, History of Science, Government, Economics, Philosophy, Psychology, Social Ethics, Education, Fine Arts, Music in Harvard College (June, 1916), pp. 45-63.

Course Announcements:

Division of History, Government, and Economics 1914-15 printed in Official Register of Harvard University, Volume XI, No. 1, Part 14 (May 19, 1914), pp. 62-70.

Division of History, Government, and Economics 1916-17 printed in Official Register of Harvard University, Volume XIII, No. 1, Part 11 (May 15, 1916), pp. 61-69.

Image Source:

Card catalog in Widener Library at Harvard University, ca. 1915. Library of Congress Prints and Photographs Division Washington, D.C.

Tags Anderson, Burbank, Cameron, ColeAH, Cox, DavisJS, Day, Gay, Lincoln, Monroe, RichterFE, RichterRE, Ripley, Ryder, Sickle, Silberling, Taussig, WrightPG

Courses Gender Radcliffe

Radcliffe. Economics course offerings, 1915-1920

Post author By Irwin Collier
Post date 2019-01-24

Here are six previous installments in the series “Economics course offerings at Radcliffe College”:

Pre-Radcliffe economics course offerings and Radcliffe courses for 1893-94, 1894-1900 , 1900-1905 , 1905-1910 , 1910-1915.

______________________________

An asterisk (*) designates Graduate courses in Harvard University, to which Radcliffe students were admitted by vote of the Harvard Faculty.

Economics
1915-16

Primarily for Undergraduates:

A. Asst. Professor DAY. — Principles of Economics.

9 Se., 20 Ju., 24 So., 1 Fr., 5 Unc., 2 Sp. Total 61

For Undergraduates and Graduates:

2a¹hf. Professor GAY.— European Industry and Commerce in the Nineteenth Century.

2 Gr., 1 Se., 2 Ju., 1 So., 1 Unc., 2 Sp. Total 9

2b²hf. Professor GAY.— Economic and Financial History of the United States.

3 Gr., 2 Se., 5 Ju., 1 So., 1 Unc., 1 Sp. Total 13

6a¹hf. Mr. P. G. WRIGHT.— Trade-Unionism and Allied Problems.

4 Se., 1 Ju., 1 Unc. Total 6

6b²hf. Mr. P. G. WRIGHT.— The Labor Movement in Europe.

4 Se., 1 Ju., 1 So., 1 Unc. Total 7

7b²hf. Asst. Professor ANDERSON.— The Single Tax, Socialism, Anarchism.

1 Ju., 2 So., 1 Sp. Total 4

8a¹hf. Professor CARVER.— Principles of Sociology.

2 Gr., 9 Se., 12 Ju., 1 So., 1 Unc., 3 Sp. Total 28

8b²hf. Asst. Professor ANDERSON.— Principles of Sociology.

2 Gr., 2 Se., 5 Ju., 1 Unc. Total 10

Accounting

Associate Professor COLE.— Principles of Accounting.

5 Se. Total 5

Economic Theory and Method

Primarily for Graduates:

*11 Professor TAUSSIG.— Economic Theory.

1 Gr., 1 Se. Total 2

*13. Asst. Professor DAY. — Statistics. Theory, method, and practice.

1 Se. Total 1

*14. Professor BULLOCK. — History and Literature of Economics to the Year 1848.

1 Gr. Total 1

Economic History

*23. Dr. GRAS (Clark College). — Economic History of Europe to the Middle of the Eighteenth Century.

1 Gr. Total 1

Course of Research

20a. Professor GAY. — Economic History.

1 Gr. Total 1

Source: Annual Report of Radcliffe College for 1915-1916. Report of the Chairman of the Academic Board (September 1918), pp. 40-1.

______________________________

Economics
1916-1917

Primarily for Undergraduates:

1. A. Asst. Professor E. E. DAY.— Principles of Economics.

2 Gr., 7 Se., 23 Ju., 19 So., 1 Fr., 3 Unc., 2 Sp. Total 57

For Undergraduates and Graduates:

1a¹hf. Associate Professor COLE.— Accounting.

6 Se., 5 Ju., 1 Sp. Total 12

1b²hf. Dr. J. S. DAVIS— Statistics.

3 Gr., 3 Se., 4 Ju., 1 Unc. Total 11

1c²hf. Associate Professor COLE.— Accounting (advanced course).

2 Se., 3 Ju. Total 5

2a¹hf. Professor GAY.— European Industry and Commerce in the Nineteenth Century.

3 Gr., 7 Se., 3 Ju., 1 Unc., 1 Sp. Total 15

2b²hf. Professor GAY.— Economic and Financial History of the United States.

3 Gr., 8 Se., 6 Ju., 1 So., 1 Unc., 1 Sp. Total 20.

5. Dr. BURBANK, with lectures on selected topics by Professor BULLOCK.— Public Finance, including the Theory and Methods of Taxation.

5 Se., 3 Ju. Total 8

6a¹hf. Mr. P. G. WRIGHT.— Trade Unionism and Allied Problems.

3 Se., 2 Ju., 3 Unc. Total 8

6b²hf. Mr. P. G. WRIGHT.— The Labor Movement in Europe.

1 Se., 2 Ju. Total 3

7. Asst. Professor ANDERSON.— Economic Theory.

3 Gr., 1 Se., 1 Ju. Total 5

8. Professor CARVER.— Principles of Sociology.

1 Gr., 4 Se., 10 Ju., 1 Unc. Total 16

Economic Theory and Method

Primarily for Graduates:

*11. Asst. Professor DAY.— Economic Theory.

1 Gr. Total 1

*12¹hf. Professor CARVER.— The Distribution of Wealth.

2 Gr. Total 2

Applied Economics

*34. Professor RIPLEY.— Problems of Labor.

2 Gr., 2 Se. Total 4

Course of Research

20d. Professor GAY. — Economic History.

1 Gr. Total 1

Source: Annual Report of Radcliffe College for 1916-1917. Report of the Chairman of the Academic Board (September 1918), pp. 91-2.

______________________________

Economics
1917-1918

Primarily for Undergraduates:

1. A. Asst. Professor E. E. DAY. — Principles of Economics.

1 Gr., 8 Se., 16 Ju., 29 So., 1 Fr., 7 Unc. Total 62

For Undergraduates and Graduates:

1a¹hf. Associate Professor COLE.— Accounting.

12 Se., 3 Ju., 3 So., 1 Unc. Total 19

1b²hf. Asst. Professor E. E. DAY.— Statistics.

2 Gr., 5 Se., 3 Ju., 1 Unc. Total 11

1c²hf. Associate Professor COLE.— Accounting (Advanced Course).

5 Se., 1 Ju., 3 So., 1 Unc. Total 10

2a¹hf. Professor GAY.— European Industry and Commerce in the Nineteenth Century.

6 Gr., 6 Se., 1 Ju., 1 So., 2 Unc. Total 16

2b²hf. Asst. Professor GRAS (Clark University).—Economic History of the United States.

2 Gr., 4 Se., 1 Ju. Total 7

3²hf. Dr. LINCOLN.— Money, Banking, and Allied Problems.

3 Gr., 7 Se., 4 Ju., 1 So. Total 15

5. Dr. BURBANK, with lectures on selected topics by Professor BULLOCK.— Public Finance, including the Theory and Methods of Taxation.

1 Gr., 4 Se. Total 5

6a¹hf. Dr. LINCOLN.— Labor Problems.

2 Se., 1 Ju., 1 So. Total 4

7. Asst. Professor ANDERSON.— Theories of Social Reform.

4 Se., 1 Ju., 1 So., 1 Unc. Total 7

8. Professor CARVER.—Principles of Sociology.

2 Se., 5 Ju., 5 Unc. Total 12

Primarily for Graduates:

Accounting

Associate Professor COLE.— Accounting Problems.

1 Gr., 3 Se. Total 4

Economic Theory and Method

*11. Professors CARVER and BULLOCK.— Economic Theory.

1 Gr. Total 1

Economic History

*24¹hf. Professor GAY. — Topics in the Economic History of the Nineteenth Century.

1 Se. Total 1

Applied Economics

*32²hf. Professor CARVER. — Economics of Agriculture.

1 Gr., 3 Se. Total 4

*34. Professor RIPLEY. —Problems of Labor.

1 Gr., 1 Se. Total 2

Course of Research

20d. Professor GAY and Asst. Professor GRAS (Clark University). — Economic History.

1 Gr. Total 1

Source: Annual Report of Radcliffe College for 1917-1918. Report of the Chairman of the Academic Board (January 1919), pp. 44-45.

______________________________

Economics
1918-1919

Primarily for Undergraduates:

1. A. Dr. BURBANK. — Principles of Economics.

11 Se., 30 Ju., 16 So., 1 Fr., 13 Unc. Total 71

For Undergraduates and Graduates:

1a¹hf. Professor COLE. — Accounting.

1 Gr., 6 Se., 6 Ju., 3 So. Total 16

1c²hf. Professor COLE. — Accounting (advanced course).

1 Gr., 2 Se., 4 Ju., 2 So. Total 9

2a¹hf. Dr. E. E. LINCOLN. — European Industry and Commerce in the Nineteenth Century.

1 Gr., 7 Se., 3 Ju., 1 So., 2 Unc. Total 14

2b²hf. Dr. E. E. LINCOLN. — Economic History of the United States.

8 Se., 1 Ju., 1 So., 2 Unc. Total 12

3²hf. Dr. E. E. LINCOLN. — Money, Banking, and Allied Problems.

1 Se., 4 Ju. Total 5

5. Dr. BURBANK, with lectures on selected topics by Professor BULLOCK. — Public Finance, including the Theory and Methods of Taxation.

3 Se. Total 3

6a¹hf. Dr. E. E. LINCOLN. — Trade-Unionism and Allied Problems.

5 Se., 3 Ju., 1 So. Total 9

7a. Professor BULLOCK. — Economic Theory.

9 Se., 3 Ju., 1 Unc. Total 13

8. Professor CARVER. —Principles of Sociology.

5 Se., 6 Ju., 1 So. Total 12

Primarily for Graduates:

Accounting

Professor COLE. — Accounting Problems.

1 Gr., 1 Se., 3 Ju., 1 So. Total 6

Economic Theory and Method

*13. Dr. PERSONS. — Statistics. Theory, Method, and Practice.

1 Gr., 1 Se., 1 Ju. Total 3

Applied Economics

*34. Professor RIPLEY. —Problems of Labor.

2 Se. Total 2

Source: Annual Report of Radcliffe College for 1918-1919. Report of the Chairman of the Academic Board (January 1920), pp. 41-42.

______________________________

Economics
1919-1920

Primarily for Undergraduates:

1. A. Asst. Professor DAY. — Principles of Economics.

9 Se., 24 Ju., 23 So., 1 Fr., 6 Unc., 2 Sp. Total 65

For Undergraduates and Graduates:

1a¹hf. Professor COLE.— Accounting.

2 Gr., 10 Se., 3 Ju., 2 So., 1 Unc., 1 Sp. Total 19

1b²hf. Asst. Professor J. S. DAVIS.— Statistics.

9 Se., 6 Ju., 2 So., 2 Unc. Total 19

1c²hf. Professor COLE.— Accounting (advanced course).

1 Gr., 6 Se., 1 Ju., 2 So., 1 Sp. Total 11

2a¹hf. Dr. E. E. LINCOLN.— European Industry and Commerce in the Nineteenth Century.

2 Se., 1 Ju., 2 Unc. Total 5

2b²hf. Dr. E. E. LINCOLN.— Economic History of the United States.

1 Gr., 6 Se., 2 Ju., 1 Unc. Total 10

3²hf. Dr. E. E. LINCOLN.— Money, Banking, and Allied Problems.

4 Se., 2 Ju., 2 Unc. Total 8

4b¹hf. Asst. Professor DAVIS. — Economics of Corporations.

1 Gr., 6 Se., 1 Ju. Total 8

5. Asst. Professor BURBANK. — Public Finance, including the Theory and Methods of Taxation.

10 Se., 1 Ju. Total 11

6a¹hf. Dr. E. E. LINCOLN. — Trade-Unionism and Allied Problems.

1 Gr., 1 Se., 3 Ju., 1 Unc. Total 6

8. Professor CARVER. —Principles of Sociology.

2 Gr., 3 Se., 6 Ju., 1 So., 1 Unc. Total 13

Economic Theory and Method

Primarily for Graduates:

*11. Professor TAUSSIG. — Economic Theory.

2 Gr., 3 Se. Total 5

*12¹hf. Professor CARVER. — The Distribution of Wealth.

1 Gr., 2 Se. Total 3

*14. Professor BULLOCK. — History and Literature of Economics to the year 1848.

2 Gr. Total 2

Applied Economics

*32²hf. Professor CARVER. — Economics of Agriculture.

1 Se. Total 1

*33²hf. Professor TAUSSIG. — International Trade and Tariff Problems.

1 Gr., 1 Se. Total 2

*34¹. Professor RIPLEY. — Problems of Labor.

3 Gr., 4 Se., 1 Ju. Total 8

Statistics

*41. Asst. Professor DAY. — Statistics: Theory and Analysis.

2 Gr. Total.2

*42. Asst. Professor DAY. — Statistics: Organization and Practice.

2 Gr. Total 2

Course of Research in Economics

*20. Professor CARVER.

1 Se. Total 1

Source: Annual Report of Radcliffe College for 1919-1920. Report of the Chairman of the Academic Board (January 1921), pp. 41-42.

Image Source: Barnard and Briggs Halls, Radcliffe College, ca. 1930-1945. Boston Public Library: The Tichnor Brothers Collection.

Tags Anderson, Bullock, Burbank, Carver, Cole, DavisJS, Day, Gay, Gras, Lincoln, Persons, Ripley, Taussig, WrightPG

Economists Harvard

Harvard. Economics Ph.D. Alumnus, Hermann F. Arens, 1918

Post author By Irwin Collier
Post date 2019-01-20

Besides being a typical addition to the collection of posts “Meet an Economics Ph.D. alumna/us”, we may consider the life/career of Hermann Franklin Arens (Harvard A.B., A.M., and Ph.D.) as that of a poster-child of a “non-survivor” in the history of economics. Serious historians worry about the survivor-bias in the accounts that are read that would systematically miss evidence of potentially productive scholarly/scientific paths not attempted. Evidence of what has actually happened to those who voluntarily or involuntarily separated from active careers in economic research will be haphazard and difficult to gather (e.g., I have been unable to find Arens’ date of death in a casual search), but at least Economics in the Rear-view Mirror can provide an occasional empirical reminder of these least-studied characters in the history of economics.

Even within the truncated autobiographical account of Arens’ post-Harvard career, we pick up the following self-deprecating and heavily ironic remark that points to his status as a “non-survivor”:

Outside of making a living for a family, I have accomplished practically nothing.

_________________

Harvard Class 1907, 25th Anniversary Report (1932)

HERMANN FRANKLIN ARENS

Born: Boston, Mass., May 3, 1882. Son of Edward Johannes, Adelma Sohmes (Atkinson) Arens.

Prepared at Dummer Academy, and Newburyport High School, Newburyport, Mass.

In College: 1903-06. Degrees: A.B. 1907; A. M. 1913; Ph.D. 1918.

Married Elizabeth Clare McNamara, Sept. 11, 1907. New York, N.Y. Children: Hermann Athanasius, May 4, 1911; Winifred Adelma, Feb. 16, 1914; Friederich Vincent, April 6, 1916; Mary Elizabeth, March 28, 1918 (died April 28, 1928); Konrad, Jan. 11, 1920 (died April 24, 1931).

Occupation: Economist.

Address: 2 Woodworth St., Neponset, Mass.

At present I am the staff economist and editor for the United Business Service, Boston, and instructor in economics at Northeastern University, Boston.

My most extensive travels were a trip to Japan and China in the winter of 1922-23.

I have a small wind-jammer, and yachting is the only sport that interests me.

Outside of making a living for a family, I have accomplished practically nothing.

Member: American Economic Association; Royal Economic Society (life fellow).

Source: Harvard Class of 1907. Twenty-Fifth Anniversary Report, Sixth Report. Norwood, Mass.: Plimpton Press, June 1932.

_________________

General Exam Report (1914)

Hermann Franklin Arens.

General Examination in Economics, Friday, May 15, 1914.
Committee: Professors Taussig (chairman), Sprague, Anderson, Foerster, and Yerkes.
Academic History: Harvard College, 1903-06; Episcopal Theological School, Cambridge, 1906-08; General Theological Seminary, New York, 1908-09; Harvard Graduate School, 1912—. A.B., Harvard, 1907; A.M. ibid., 1913. Assistant in Economics, Harvard, 1912-13; Assistant in Social Ethics, 1913—.
General Subjects: 1. Economic Theory and its History. 2. Sociology. 3. Socialism and Labor Problems. 4. Philosophy. 5. Agricultural Economics. 6. Money, Banking, and Commercial Crises.
Special Subject: Sociology.
Thesis Subject: (undecided).

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1913-14”.

_________________

Harvard Ph.D. Report (1918)

Hermann Franklin Arens.

Special Examination in Economics, Monday, April 29, 1918.
General Examination passed May 15, 1914.
Academic History: Harvard College, 1903-06; Episcopal Theological School, Cambridge, 1906-08; General Theological Seminary, New York, 1908-09; Harvard Graduate School, 1912-16. A.B., Harvard, 1907; A.M., ibid., 1913. Assistant in Economics, 1912-13; Assistant in Social Ethics, 1913-14; Assistant in Economics, 1914-15.
General Subjects: 1. Economic Theory and its History. 2. Sociology. 3. Socialism and Labor Problems. 4. Philosophy. 5. Agricultural Economics. 6. Money, Banking, and Commercial Crises.
Special Subject: Sociology.
Committee: Professors Carver (chairman), Day, Anderson, and Foerster.
Thesis Subject: “The Relation of the Group to the Individual in Political Theory.” (With Professor Anderson.)
Committee on Thesis: Professors Anderson, Carver, and Yeomans.

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1917-18”.

_________________

1926 Directory of Harvard Ph.D.’s

1918. Arens, Hermann Franklin [Economics].

Thesis title: The relation of the group to the individual in political theory.

A.B. Harvard University, 1907; A.M. Harvard University, 1913.
1918. Economics Expert, Babson Statistical Organization, Wellesley Hills, Mass.
1926. Editor, United Business Service Co. 210 Newbury St., Boston, Mass.

Sources:

Harvard University. Doctors of Philosophy and Doctors of Science Who have received their Degree in Course from Harvard University, 1873-1926, with the Titles of their Theses. Cambridge: 1926.

Harvard University. Reports of the President and the Treasurer of Harvard College, Reports of the Dean of the Graduate School of Arts and Sciences (available at the Harvard Archives Online Reference Shelf).

Image Source: Harvard Class of 1907. Twenty-Fifth Anniversary Report, Sixth Report. Norwood, Mass.: Plimpton Press, June 1932.

Tags Anderson, Arens, Carver, Day, Foerster, Taussig, Yeomans

Harvard Teaching Undergraduate

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

Post author By Irwin Collier
Post date 2018-11-09

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

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

__________________

Taussig’s Cover Letter

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts
March 22, 1911.

Dear Mr. Blake:

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

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

Mr. J. A. L. Blake

__________________

Frank W. Taussig and Edmund Ezra Day’s Courses

From the Course Announcements, 1910-11

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

[Economics] 18b ²hf. Banking and Foreign Exchange. Half-course (second half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 1.30. Dr. [Edmund Ezra] Day [Harvard Ph.D., 1909].

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

* * * * * * *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts

Memorandum regarding Economics 1

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

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

__________________

Courses of Thomas Nixon Carver

From the Course Announcements, 1910-11

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

[Economics] 14a ¹hf. The Distribution of Wealth. Half-course (first half-year). Tu., Thu., at 1.30.Professor Carver.

[Economics] 14b ²hf. Methods of Social Reform.—Socialism, Communism, the Single Tax, etc. Half-course (second half-year). Tu., Thu., at 1.30. Professor Carver.
Open only to those who have passed satisfactorily in Economics 14a.

Information about the teaching assistant actually named by Carver

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

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

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

Additional biographical information.

* * * * * * *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts

Dear Taussig:

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

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

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

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

Professor Taussig.

__________________

William Morse Cole’s Accounting Course

From the Course Announcements, 1910-11

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

* * * * * * *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts
February 23, 1911

Dear Professor Taussig

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

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

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

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

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

Sincerely yours
[signed]
William Morse Cole

__________________

Economic history courses of Edwin F. Gay

From the Course Announcements, 1910-11

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

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

* * * * * * *

HARVARD UNIVERSITY
THE GRADUATE SCHOOL OF BUSINESS ADMINISTRATION

Office of the Dean

Cambridge, Massachusetts
March 4, 1911

Dear Taussig:

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

I think this answer the points raised by your question.

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

Professor F. W. Taussig

__________________

Public Finance Course of Charles Bullock

From the Course Announcements, 1910-11

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

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

Possible Harvard Undergraduate as a teaching assistant

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

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

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

Source: Harvard Crimson, May 17, 1911.

* * * * * * *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts
March 7, 1911

My dear Taussig:

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

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

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

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

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

Professor Taussig

__________________

Labor and Transportation Courses taught by W. Z. Ripley

From the Course Announcements, 1910-11

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

[Economics] 9a ¹hf. Problems of Labor. Half-course (first half-year). Tu., Thu., and (at the pleasure of the instructor) Sat., at 1.30. Professor Ripley, assisted by Mr. Whitnack.

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

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

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

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

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

Whitnack’s death in 1919

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

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

* * * * * * *

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

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

Cambridge, Massachusetts
24 February 1911.

Dear Professor Taussig,–

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

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

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

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

The correction of weekly papers is done by the assistant.

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

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

__________________

Source for the memoranda:

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

Source for course listings information:

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

Source for ex post staffing of courses:

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

Source for Harvard economics Ph.D.’s:

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

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

Tags Balcom, Bristol, Bullock, Carver, ColeWM, Day, Eldred, Foerster, Gay, Huse, KennedyPB, KleinJulius, Ripley, Sharfman, Taussig, Whitnack

Curriculum Gender Harvard Radcliffe

Radcliffe. Economics course offerings, 1910-1915

Post author By Irwin Collier
Post date 2018-08-31

Here are five more installments in the series “Economics course offerings at Radcliffe College”…

Pre-Radcliffe economics course offerings and the Radcliffe courses for 1893-94, 1894-1900 , 1900-1905 , 1905-1910 have been posted earlier.

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1910-1911
ECONOMICS.

Primarily for Undergraduates:—

1. Dr. HUSE and DAY. — Outlines of Economics. — Production, Distribution, Exchange, Socialism, Labor, Railroads, Trusts, Foreign Trade, Money, and Banking.

45 Undergraduates, 6 Special students. Total 51.

For Undergraduates and Graduates:—

3. Professor CARVER. — Principles of Sociology.—Theories of social progress. 2 hours a week, and a third hour at the pleasure of the instructor.

3 Graduates, 31 Undergraduates, 1 Unclassified student. Total 35.
(1 Graduate, 2d half only).

6a¹. Professor GAY. — European Industry and Commerce in the Nineteenth Century. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 1^sthalf-year.

1 Graduate, 8 Undergraduates. Total 9.

6b². Professor GAY. — Economic and Financial History of the United States. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 2^dhalf-year.

2 Graduates, 12 Undergraduates, 2 Special students, 2 Unclassified students. Total 18.

8¹. Dr. HUSE. — Money. A general survey of currency legislation, experience, and theory in recent times. Half-course. 3 hours a week, 1^sthalf-year.

7 Undergraduates. Total 7.

8². Dr. DAY. — Banking and Foreign Exchange. Half-course. 3 hours a week, 2^dhalf-year.

5 Undergraduates, 1 Special student. Total 6.

14a¹. Professor CARVER. — The Distribution of Wealth. Half-course. 2 hours a week, 1^sthalf-year.

2 Graduates, 11 Undergraduates, 2 Special students. Total 15.

14b². Professor CARVER. — Methods of Social Reform.—Socialism, Communism, the Single Tax, etc. Half-course. 2 hours a week, 2^dhalf-year.

1 Graduate, 11 Undergraduates, 3 Special students, 1 Unclassified student. Total 16.

Primarily for Graduates:—

COURSES OF RESEARCH

20a. Professor GAY. — (a) The Millinery Trade in Boston. 1 Graduate. (b) The Small Loan Business in Boston. 1 Graduate.

Total 2.

**20b. Professor CARVER. — The Laws of Production and Valuation.

1 Graduate. Total 1.

[Note] The courses marked with two stars (**) are Graduate courses in Harvard University, to which Radcliffe students were admitted by vote of the Harvard Faculty.

Source: Radcliffe College. Report of the President of Radcliffe College 1910-11, pp. 49-50.

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1911-1912
ECONOMICS.

Primarily for Undergraduates:—

1. Dr. DAY and Mr. J. S. DAVIS. — Outlines of Economics. — Production, Consumption, Distribution, Exchange, Socialism, Labor Problems, Trusts, Money, Banking, and Public Finance.

43 Undergraduates, 8 Special students, 1 Unclassified student.
(1 Undergraduate, 1 Special student, 1 Unclassified student 1^sthalf only.) Total 52.

For Undergraduates and Graduates:—

3. Professor CARVER. — Principles of Sociology. — Theories of social progress. 2 hours a week, and a third hour at the pleasure of the instructor.

4 Graduates, 18 Undergraduates, 6 Special Students. (1 Special student, 1^sthalf only.) Total 28.

6a¹. Professor GAY. — European Industry and Commerce in the Nineteenth Century. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 1^sthalf-year.

1 Graduate, 4 Undergraduates, 3 Special students, 1 Unclassified student. Total 9.

6b². Professor GAY. — Economic and Financial History of the United States. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 2^dhalf-year.

2 Graduates, 9 Undergraduates, 3 Special students. Total 14.

14a¹. Professor CARVER. — The Distribution of Wealth. Half-course. 2 hours a week, 1^sthalf-year.

3 Undergraduates, 1 Special student. Total 4.

14b². Professor CARVER. — Methods of Social Reform.—Socialism, Communism, the Single Tax, etc. Half-course. 2 hours a week, 2^dhalf-year.

3 Undergraduates, 1 Special student. Total 4.

*18. Asst. Professor COLE. — Principles of Accounting. 3 hours a week.

6 Undergraduates. (4 Undergraduates, 1^sthalf only; 1 Undergraduate, 2^dhalf only.) Total 6.

Primarily for Graduates:—

COURSES OF RESEARCH

20a. Professor GAY. — (a) The Organization of the Boot and Shoe Industry in Massachusetts in the First Half of the Nineteenth Century. 1 Graduate. (b) Economic Policy of England from 1625 to 1660. 1 Graduate. (c) Women in the Boot and Shoe Industry in Massachusetts. 2 Graduates.

Total 4.

20b. Professor CARVER. — Economic Theory.

1 Undergraduate. Total 1.

Source: Radcliffe College. Report of the President of Radcliffe College 1911-12, pp. 53-54.

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1912-1913
ECONOMICS.

Primarily for Undergraduates:—

1. Dr. DAY. — Outlines of Economics. — Production, Consumption, Distribution, Exchange, Socialism, Labor Problems, Trusts, Money, Banking, and Public Finance.

24 Undergraduates, 8 Special students, 4 Unclassified students.
(1 Special student, 1^sthalf only.) Total 36.

For Undergraduates and Graduates:—

2a¹(formerly 6a¹). Professor GAY. — European Industry and Commerce in the Nineteenth Century. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 1^sthalf-year.

3 Graduates, 4 Undergraduates, 1 Special student. Total 8.

2b²(formerly 6b²). Professor GAY. — Economic and Financial History of the United States. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 2^dhalf-year.

3 Graduates, 5 Undergraduates. Total 8.

7 (formerly 14). Professor CARVER. — Theories of Distribution and Distributive Justice. 3 hours a week.

9 Undergraduates, 2 Special students. Total 11.

8 (formerly 3). Professor CARVER. — Principles of Sociology.—Theories of social progress. 3 hours a week.

27 Undergraduates, 2 Special students, 2 Unclassified students. (1 Undergraduate, 1^sthalf only.) Total 31.

9 (formerly 18). Asst. Professor COLE. — Principles of Accounting. 3 hours a week.

5 Undergraduates. Total 5.

Primarily for Graduates:—

I
ECONOMIC THEORY AND METHOD

**12¹(formerly 13). Professor CARVER. — Scope and Methods of Economic Investigation. Half-course. 2 hours a week, 1^sthalf-year.

1 Graduate. Total 1.

**13 (formerly 4). Professor RIPLEY. — Statistics, Theory, method and practice. 2 hours a week.

3 Graduates. Total 3.

II
ECONOMIC HISTORY

**23 (formerly 11). Dr. GRAY. — Economic History of Europe to 1760. 3 hours a week.

1 Special student. Total 1.

[Note] The courses marked with two stars (**) are Graduate courses in Harvard University, to which Radcliffe students were admitted by vote of the Harvard Faculty.

COURSES OF RESEARCH

20a. Professor GAY. — Selected Topics in Modern European Economic History.

2 Graduates. Total 4.

20b. Professor CARVER. — Economic Theory.

1 Graduate. Total 1.

Source: Radcliffe College. Report of the President of Radcliffe College 1912-14, pp. 42-43.

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1913-1914
ECONOMICS.

Primarily for Undergraduates:—

1. Asst. Professor E. E. DAY and Mr. BURBANK. — Principles of Economics. 3 hours a week.

33 Undergraduates, 5 Special students, 2 Unclassified students. Total 40.

For Undergraduates and Graduates:—

2a¹(formerly 6a¹). Professor GAY.— European Industry and Commerce in the Nineteenth Century. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 1^sthalf-year.

1 Graduate, 10 Undergraduates, 2 Special students, 1 Unclassified student. Total 14.

2b²(formerly 6b²). Professor GAY. — Economic and Financial History of the United States. Half-course. 2 hours a week, and a third hour at the pleasure of the instructor, 2^dhalf-year.

2 Graduates, 9 Undergraduates, 1 Special student, 1 Unclassified student. Total 13.

7 (formerly 14). Asst. Professor ANDERSON. — Economic Theory: Value and Related Problems. 3 hours a week.

1 Graduate, 5 Undergraduates. Total 6.

9 (formerly 18). Associate Professor COLE. — Principles of Accounting. 3 hours a week.

5 Undergraduates. Total 5.

Primarily for Graduates:—

I
ECONOMIC THEORY AND METHOD

**11. Professor TAUSSIG. — Economic Theory. Half-course. 3 hours a week.

1 Undergraduate. Total 1.

**14. Professor BULLOCK. — History and Literature of Economics to the year 1848. 2 hours a week, and a third hour at the pleasure of the instructor.

1 Graduate. Total 1.

II
ECONOMIC HISTORY

**24. Professor GAY. — Topics in the Economic History of the Nineteenth Century. Two consecutive evenings a week.

1 Undergraduate. Total 1.

[Note] The courses marked with two stars (**) are Graduate courses in Harvard University, to which Radcliffe students were admitted by vote of the Harvard Faculty.

COURSES OF RESEARCH

20a. Professor GAY. — Economic History.

2 Graduates (1 Graduate, 1^sthalf only). Total 2.

Source: Radcliffe College. Report of the President of Radcliffe College 1912-14, pp. 99-100.

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1914-1915
ECONOMICS.

Primarily for Undergraduates:

1. Asst. Professor E. E. DAY. — Principles of Economics.

5 Seniors, 14 Juniors, 15 Sophomores, 1 Freshman, 3 Unclassified students, 4 Special students. Total 42.

For Undergraduates and Graduates:

2a¹hf. Professor GAY. — European Industry and Commerce in the Nineteenth Century.

3 Graduates, 3 Seniors. Total 6.

2b²hf. Professor GAY. — Economic and Financial History of the United States

3 Graduates, 2 Seniors, 1 Junior. Total 6.

7. Professor CARVER. — Economic Theory.

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

8. Asst. Professor ANDERSON. — Principles of Sociology.

6 Seniors, 3 Juniors, 1 Special student. Total 10.

Accounting

Associate Professor COLE. — Principles of Accounting.

5 Seniors, 1 Junior. Total 6.

Economic Theory and Method

Primarily for Graduates:

**12¹hf. Professor CARVER. — Scope and Methods of Economic Investigation.

1 Graduate. Total 1.

**13. Asst. Professor DAY. — Statistics: Theory, method, and practice.

1 Graduate. Total 1.

Applied Economics

**33 hf. Professor TAUSSIG. — International Trade, with special reference to Tariff Problems in the United States.

1 Graduate. Total 1.

**34. Professor RIPLEY. — Problems of Labor.

1 Graduate. Total 1.

Course of Research

20a²hf. Professor GAY. — Economic History.

2 Graduates. Total 2.

[Note] The courses marked with two stars (**) are Graduate courses in Harvard University, to which Radcliffe students were admitted by vote of the Harvard Faculty.

Source: Radcliffe College. Report of the President of Radcliffe College 1914-15, pp. 41-42.

Image Source: From front matter of the bound version of The Radcliffe Bulletin, 1912-13 in the Harvard University Library.

Tags Anderson, Burbank, Carver, Cole, DavisJS, Day, Gay, Gray, Huse, Ripley, Taussig

Exam Questions Harvard

Harvard. Year-end exams. Money, Banking, Commercial Crises. Young, 1921-27

Post author By Irwin Collier
Post date 2018-05-19

Today’s artifacts come from the roaring ’20s. Besides his courses in economic theory, Allyn A. Young taught a year long course at Harvard, “Money, Banking and Commercial Crises”. Before presenting enrollment figures and the exams for Young’s Economics 3, I have assembled a chronology that identifies the course instructors over the entire period 1911-1946. Links are provided to the related artifacts that have been transcribed here at Economics in the Rear-view Mirror.

The chronology is followed by Young’s course description for 1924-25. Presumably there was a mid-year exam for the course, but these were not included in the printed collection of final course examinations. It is possible that the questions have been limited to the second-semester’s course content. This is something that definitely deserves checking.

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Chronology of the Harvard economics course
“Money, Banking and Commercial Crises”

This two semester course was the product of merging the one semester course “Commercial Crises and Cycles of Trade” (Economics 12) with the two semester sequence “Money” and “Banking and Foreign Exchange” (Economics 8a and 8b, respectively).

The new course “Money, Banking, and Commercial Crises” (Economics 8, then 3, and later 41) was a staple of economics course offerings for the next 35 years.

Economics 8

1911-12 taught by E.E. Day

Economics 3

1912-13, 1913-14 taught by E.E. Day.

Money, Banking, and Commercial Crises (1914-15) taught by Benjamin M. Anderson.

1915-16 taught by Norman John Silberling

Money, Banking, and Commercial Crises (1917-18) taught by Benjamin M. Anderson.

1918-19, 1919-20 taught by A. E. Monroe.

1920-21 through 1926-27 taught by Allyn A. Young. Year-end exams transcribed below.

1927-28 through 1931-32 taught by John H. Williams

1932-33 taught by John H. Williams, Joseph Schumpeter and Lauchlin Currie.

1933-34 [course title: Money, Banking, and Cycles] Seymour Harris

1934-35, 1935-36 taught by John H. Williams and Seymour Harris

Economics 41

1936-37 taught by John H. Williams and Seymour Harris

Money, Banking, and Commercial Crises (1937-38) John H. Williams and Richard V. Gilbert.

1938-39 to 1941-42 taught by John H. Williams and Seymour Harris

1942-43, 1943-44 taught by Alvin Hansen and John H. Williams

1944-45 first semester taught by Schumpeter, second semester by Hansen and Williams

1945-46 Economics 41 morphed back into a two semester course “Money and Banking” taught by John H. Williams with a new one term course “Business Cycles” taught by Alvin Hansen.

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Course Description, 1924-25

[Economics] 3. Money, Banking, and Commercial Crises. Mon., Wed., Fri., at 2. Professor Young.

In this course money and credit will be studied with special reference to the part they play in the present economic system. The principal problems of public policy with respect to the control of money and banking will be discussed. Foreign exchange, organized speculation in its relation to the money market, and the characteristic phenomena of commercial crises will be considered in some detail. The course will be conducted by means of lectures, discussions, frequent short reports or exercises on assigned topics, and (in the second half-year) a thesis based on work in the library. Certain subjects, such as the monetary and banking history of the United States, will be covered almost wholly by assigned reading, tested by written papers.

Source: Division of History, Government and Economics 1924-25 published in Official Register of Harvard University, Vol. 21, No. 22 (April 30, 1924), p. 67.

_______________________

Enrollment, 1920-21

[Economics] 3. Professor Young —Money, Banking, and Commercial Crises.

Total 148: 6 Graduates, 34 Seniors, 67 Juniors, 26 Sophomores, 3 Freshmen, 30 Others.

Source: Harvard University. Report of the President of Harvard College 1920-21, p. 19.

Year-end examination, 1920-21
HARVARD UNIVERSITY
ECONOMICS 3

What is a dollar?
In what manner and why were bank reserves inelastic under the national banking system? What were the consequences?
Discuss the relation of overproduction to crises, distinguishing carefully different types of overproduction.
Outline the sequence of events in a typical business cycle.
Define: federal reserve bank note, gold-exchange standard, “value of money.”
In what different ways may federal reserve notes be issued?
Explain and discuss the “equation of exchange.”
Describe and explain the dominating position the London money market held before the war.

Source: Harvard University Archives. Examination Papers 1921 (HUC 7000.28, No. 63), Papers Set for Final Examinations [in] History, Church History,…,Economics,…, Fine Arts, Music. June, 1921, p. 56.

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Course announcement, 1921-22

[Economics] 3. Money, Banking, and Commercial Crises

Mon., Wed., Fri., at 1.30. Professor Young.

Source: Harvard University, Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year, 1921-22 (Third Edition),p. 109.

Year-end examination, 1921-22
HARVARD UNIVERSITY
ECONOMICS 3

Draw up a statement showing the condition of a national bank. Explain the meaning of the various items.
Under what conditions is a large surplus an indication of a bank’s strength? How may it be an indication of weakness?
To what classes of persons are rising prices advantageous? To what classes are they disadvantageous?
Define: gold exchange standard, banker’s acceptance, finance bill, bimetallism, index number.
What do you take to have been the causes of the fall of prices between 1874 and 1896?
Why were “surplus reserves” under the national banking system normally exceedingly small?
State and explain the Ricardian theory of gold movements. Are the recent movements of gold from Europe to the United States explainable by the Ricardian principle?
What relation was there between the Bank Act of 1844 and the controversies of the restriction period?
If the weight of the gold dollar were reduced by half would prices be doubled? Explain your reasoning.
“The bulk of the acceptance business arising out of the foreign trade of the entire world has for many years been conducted in London.” Explain what this statement means and why it is true.

Final. 1922

Source: Harvard University Archives. Examination Papers 1922 (HUC 7000.28, No. 64), Papers Set for Final Examinations[in] History, Church History,…,Economics,…, Social Ethics, Education. June, 1922.

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Enrollment, 1922-23

[Economics] 3. Professor Young—Money, Banking, and Commercial Crises.

Total 129: 6 Graduates, 33 Seniors, 75 Juniors, 11 Sophomores, 1 Freshman, 3 Others.

Source: Harvard University. Report of the President of Harvard College 1922-23, p. 92.

Year-end examination, 1922-23
HARVARD UNIVERSITY
ECONOMICS 3

Define: money of account, standard of deferred payments, inflation, gold-exchange standard, discounting.
Give an account of the life-history of a typical commercial long bill of exchange, as used in international trade.
Discuss the nature and significance of the par of exchange between two countries when one has a gold standard and the other has (a) a gold standard, (b) a silver standard, (c) inconvertible paper.
Is New York City likely to become the center of the world’s foreign exchange markets? Discuss.
In what ways are federal reserve notes and clearing-house loan certificates alike? In what ways are they unlike?
Professor W. C. Mitchell holds that prosperity breeds a crisis because of (a) the gradual increase in the costs of doing business, and (b) the accumulating tension of the investment and money markets. Explain and discuss.
Was the federal reserve system responsible for the rise of prices between 1917 and 1920 and for the subsequent drop? Discuss.
In what ways do the federal reserve banks effect (a) regional and (b) national clearings?
On what grounds is it generally held that a larger use of bank acceptances in this country is desirable?

Final. 1923.

Source: Harvard University Archives. Examination Papers 1923 (HUC 7000.28, No. 65), Papers Printed for Final Examinations [in] History, History of Religions,…,Economics,…, Social Ethics, Anthropology. June, 1923.

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Enrollment, 1923-24

[Economics] 3. Professor Young—Money, Banking, and Commercial Crises.

Total 119: 2 Graduates, 25 Seniors, 81 Juniors, 5 Sophomores, 1 Freshman, 5 Others.

Source: Harvard University. Report of the President of Harvard College 1923-24, p. 106.

Year-end examination, 1923-24
HARVARD UNIVERSITY
ECONOMICS 3

Answer nine questions.

Explain the first and either the second or the third of these theories of the business cycle: (1) the “banking theory”; (2) Hobson’s theory of over-saving; (3) Fisher’s theory of the lagging adjustment of interest.
“It thus appears that the Bank of England’s official rate is often through long periods a mere empty symbol, leaving no actual relation to the real price of money in London; and only becomes effective, and a factor in the monetary position when…” When?
Draw up a statement showing the principal items which enter into the balance of payments.
What conditions must be fulfilled if New York is to become the center of the world’s foreign exchange markets?
State and discuss the doctrine of purchasing-power parity.
Discuss the open-market operations of the federal reserve banks, with special reference to (a) the provisions of the law, (b) the purposes of such operations, (c) their relation to possible changes in prevalent types of commercial paper.
Why did national bank notes constitute an inelastic currency? in just what manner do federal reserve notes constitute an elastic currency?
Discuss the effect of organized speculation on prices, taking account of the fact that different types of price variations cover different periods of time.
G. Moulton lists as “fallacies,” (1) the notion that a nation’s capacity to pay a foreign debt (such as reparations) is measured by the excess of its annual production over its annual consumption, and (2) the notion that a country can pay such a debt by selling securities to other countries. Do you agree? Explain.
“In the main, banks do not lend their deposits, but rather, by their own extensions of credit, create the deposits.” Explain.

Final. 1924.

Source: Harvard University Archives. Examination Papers 1924 (HUC 7000.28, No. 66), Papers Printed for Final Examinations [in] History, History of Religions,…, Economics,…, Psychology, Social Ethics. June, 1924.

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Enrollment, 1924-25

[Economics] 3. Professor Young—Money, Banking, and Commercial Crises.

Total 111: 1 Graduate, 22 Seniors, 72 Juniors, 12 Sophomores, 1 Freshman, 3 Others.

Source: Harvard University. Report of the President of Harvard College 1924-25, p. 75.

Year-end examination, 1924-25
HARVARD UNIVERSITY
ECONOMICS 3

Answer eight questions.

Some writers hold that business cycles are caused by the expansion and contraction of bank credit. Why and how, in their view, does bank credit expand and contract?
“A country can pay a foreign debt only by exporting more than it imports.” Explain and discuss critically.
What was the major defect of the old national banking system?
Define: rediscount, trust company, par collections, gold standard, purchasing power parity.
“The Bank of England has power to exert a decisive influence over the magnitude of the gold movements to and from England.”—Furniss.
What are the distinguishing characteristics (economic or legal, not physical characteristics) of the following types of money: silver dollars, United States notes, national bank notes, federal reserve notes?
What are the prerequisites to the stabilizing of a depreciated paper currency?
In what measure was the federal reserve system responsible for the rapid rise of prices in 1919 and 1920 and for the subsequent collapse?
The federal reserve banks hold nearly $3,000,000,000 in gold, amounting to about 75 per cent of their liability on account of deposits and note issues combined, and constituting a large idle investment. Under what conditions would a considerable part of this gold be exported to other countries?

Final. 1925.

Source: Harvard University Archives. Examination Papers 1925 (HUC 7000.28, No. 67), Papers Printed for Final Examinations [in] History of Science, History, …, Economics,…, Anthropology, Military Science. June, 1925.

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Enrollment, 1925-26

[Economics] 3. Professor Young—Money, Banking, and Commercial Crises.

Total 110: 31 Seniors, 64 Juniors, 8 Sophomores, 1 Freshman, 6 Others.

Source: Harvard University. Report of the President of Harvard College 1925-26, p. 77.

Year-end examination, 1925-26
HARVARD UNIVERSITY
ECONOMICS 3

Answer eight questions.

Define deposits, discount, monetary standard, bimetallism.
Formulate the “quantity theory” in any way that you prefer, and discuss it critically.
A Brazilian firm draws a 90-day bill upon a London banker on account of a shipment of coffee to Boston.

(1) Why should the London bill be preferred to a bill upon New York or Boston?
(2) What is done with the bill after it reaches London?
(3) How is the bill finally settled?

Some writers hold that when a government issues inconvertible paper money it obtains what is virtually a “forced loan.” Others hold that such an issue is more like taxation. What is your opinion, and why?
Give an account of one of the following:

The socialist theory of crises.
Hobson’s theory of over-saving.
The “banking theory” of crises.

Explain briefly the meaning of any two of the following phrases:

Par-collections controversy.
Open market policy.
Gold settlement fund.
Rediscounting

Compare the Bank of England and either the Bank of France or the Reichsbank with respect to

(a) restrictions on note issue;
(b) discount policy.

Was the federal reserve system responsible for the inflation of 1919-20 and the ensuing collapse? Explain.
Just why, in your opinion, did the mark (or the franc, or the greenback) depreciate?

Final. 1926.

Source: Harvard University Archives. Examination Papers 1926 (HUC 7000.28, No. 68), Papers Printed for Final Examinations [in] History, History of Religions, …, Economics,…, Social Ethics, Military Science. June, 1926.

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Enrollment, 1926-27

[Economics] 3. Professor Young and Mr. Marget.—Money, Banking, and Commercial Crises.

Total 125: 2 Graduates, 27 Seniors, 74 Juniors, 14 Sophomores, 2 Freshmen, 6 Others.

Source: Harvard University. Report of the President of Harvard College 1926-27, p. 74.

Year-end examination, 1926-27
HARVARD UNIVERSITY
ECONOMICS 3

Answer eight questions.

Explain and discuss critically some form of the “banking” or “credit” theory of business cycles.
“If prices are rising” Hawtrey observes, “the mere holding of commodities in stock yields an additional profit over and above the usual dealer’s percentage on the turn-over. If traders are to be deterred from borrowing money to buy commodities, the rate of discount must be high enough to offset the additional profit. But, it may be asked, how is this possible when prices are rising at the rate of 30 per cent per annum?” Hawtrey’s answer? Your own?
Discuss critically either (a) Fisher’s proposals for stabilizing the price level, or (b) proposals for attaining the same end by controlling the supply of bank credit.
Select two of the following and discuss their significance as “causes” of the depreciation of inconvertible paper money: (1) excessive quantity; (2) ultimate redemption uncertain; (3) unbalanced budget; (4) adverse balance of foreign payments; (5) speculation.
Define: rediscounts, purchasing-power parity, invisible exports, monetary standard, par collections.
Compare the note-issue system of the Bank of England (as established by the Act of 1844) with the note-issue system of the federal reserve banks, with particular reference to (a) separation of “banking” and “issue” departments, and (b) the type of assets by which the notes are “covered.”
In what way or ways do purchases and sales of government securities in the New York money market by the federal reserve banks affect the state of that market?
If you were Dictator of France, and took account of considerations of justice as well as of expediency, would you plan to stabilize the franc at its present (gold) value? Or would you plan for a gradual recovery of its pre-war value? Why?
Discuss the relation of international gold movements to changes of (a) relative price levels, (b) relative discount rates.

Final. 1927.

Source: Harvard University Archives. Examination Papers 1927 (HUC 7000.28, No. 69), Papers Printed for Final Examinations [in] History, History of Religions, …, Economics,…, Social Ethics, Military Science. June, 1927.

Image Source: Allyn Young in Harvard Classbook 1925.

Tags Anderson, Currie, Day, GilbertRV, Hansen, Harris, Monroe, Schumpeter, Silberling, WilliamsJH, Young

Courses Harvard Principles

Harvard. Report on the Recitation Sections of Principles of Economics, 1913-14

Post author By Irwin Collier
Post date 2018-03-28

A member of the Department of Economics Visiting Committee, John Wells Morss, took it upon himself to sit in and observe classroom performance in the recitation sections of the Harvard Principles of Economics course during the Fall term of 1913-14. From the first paragraph of his report it would appear that the department of economics had invited him to provide a report to serve as a complementary (friendly?) assessment to the survey being (or to be) conducted by the Harvard Division of Education on teaching in the economics department. That Division of Education report was later published: The Teaching of Economics in Harvard University—A Report Presented by the Division of Education at the Request of the Department of Economics. Cambridge: Harvard University Press, 1917.

Morss’ report was passed along to President A. Lawrence Lowell of Harvard by the chairman of the department of economics, Charles Bullock, for-the-(positive)-record. While the report seems rather long-winded by today’s standards, it does provide us some good information, e.g. about the importance of the weekly questions discussed in the recitation sections. For a sample of the questions we are fortunate to have the published record.

Edmund Ezra Day and Joseph Stancliffe Davis. Questions on the Principles of Economics. New York: 1915.
“A few of the questions here presented are frankly borrowed from previously published collections…More of the questions have been drawn from a stock accumulated through several years in the hands of the instructing staff of the introductory course in Economics at Harvard University.” (p. vii)
The questions were arranged by topics to follow Taussig’s own textbook Principles of Economics (Second, revised edition of 1915: Volume One; Volume Two).

Another interesting takeaway is that Morss noted that over the four weeks that he attended sections, the average amount of assigned reading for these recitations was 33 pages per week from the Taussig textbook. This certainly seems modest from the perspective of today’s nominal reading lists but perhaps actually corresponds to the actual reading completed by the average undergraduate in an introductory or intermediate economics course.

Note: Since the following items come from the last folder from a box that contains the papers of President Lowell of 1909-14 and the month of February is significantly closer to the start than the end of the year, it seems likely that the date, “1913”, found in the typed date on Charles Bullock’s cover letter was mistaken and that both items transcribed below are from February 1914.

__________________

Course Announcement and Description, 1913-14

[Economics] A. (formerly 1). Principles of Economics. Tu., Th., Sat., at 11.

Professor Taussig and Asst. Professor Day, assisted by Messrs. Burbank, J. S. Davis, R. E. Heilman, and others.

Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes a consideration of the principles of production, distribution, exchange, money, banking, international trade, and taxation The relations of labor and capital, the present organization of industry, and the recent currency legislation of the United States will be treated in outline.

The course will be conducted partly by lectures, partly by oral discussion in sections. A course of reading will be laid down, and weekly written exercises will test the work of students in following systematically and continuously the lectures and the prescribed reading. course A may not be taken by Freshmen without the consent of the instructor.

Source: Harvard University. Division of History, Government, and Economics, 1913-14, published in Official Register of Harvard University, Vol. X, No. 1, Part X (May 19, 1913) , p. 60.

__________________

Course Enrollment, 1913-14

[Economics] A (formerly 1). Professor Taussig and Asst. Professor Day, assisted by Dr. J. S. Davis, and Messrs. P. G. Wright, Burbank, Eldred, and Vanderblue.—Principles of Economics.

Total, 494: 1 Graduate, 1 Business School, 13 Seniors, 129 Juniors, 280 Sophomores, 24 Freshmen. 46 Others.

Source: Harvard University. Report of the President of Harvard College, 1913-1914, p. 54.

__________________

Examination Questions for Economics A, 1913-14

Mid-year and Year-end final exams for 1913-14 for Economics A have been transcribed and posted earlier.

__________________

Cover letter from Professor Bullock (Economics)
to President Lowell

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Cambridge, Massachusetts
February 20, 1913 [sic].

Dear Mr. Lowell:

Mr. John Wells Morss of our Visiting Committee has recently completed a very thoro investigation of the work done in the sections of Economics A. I enclose herewith a copy of the Report, which I think, will be of great interest to you. Last Tuesday I had the pleasure of an hour’s conference with Mr. Morss, in which he told me somewhat more fully about this investigation; and I think it may be worth your while to confer with him upon the subject.

Sincerely yours,
[signed]
C. J. Bullock.

__________________

Harvard University

THE SECTION MEETINGS OF ECONOMICS A

Notes by John Wells Morss
February, 1914.

When an amateur attempts to pass upon the work of professionals, a knowledge of his point of view is essential to one who would consider his conclusions. It therefore seems fitting to state that I was invited by the Department of Economics to make an examination of some of its work not because I was expected to reach results comparable to those expected from the examination now being conducted by the Department of Education, but because, as my invitation expressed it, the Department of Economics believed it “important to secure the opinion of some one who represents a different point of view, and brings to the work of inspection the experience of a man of business rather than of a student of education”. I have limited my examination to the work of the section meetings of the Economics Department, and shall limit this report to the work of the section meetings of Economics A, as that course has a large majority of the section meetings of the Department, and to consider them only greatly simplifies what I have to say. I have not compared my results with those of the Department of Education, and I have sought but little to obtain the views of those who conduct the section meetings as to their problems and difficulties lest they overwhelm my own observation.

Economics A, the introductory course to the subject most popular in Harvard College, has an enrollment of students this year of about five hundred and twenty-five. On Saturdays a lecture is delivered to the students in a body in the New Lecture Hall. On two other days of the week each student attends a meeting of the section to which he is assigned. There are twenty-one sections, each with a membership of about twenty-five. They are conducted by five instructors and Assistant Professor Day, all of whom will be referred to as the instructors. Twenty minutes or more of the one hundred minutes given weekly to the section meetings are devoted to writing an answer to a question set by the instructor. As twenty-one section meetings cannot be held at once, the same question cannot be put to all the students of the course; but the six different questions, prepared at a conference of the instructors, are all designed to serve the same purpose of testing the students’ knowledge and comprehension of recent work. I have not attempted to judge either questions or answers, but their usefulness seems to me to be unquestionable. After the answer is written the rest of the two meetings is devoted to a quiz with explanations and discussions based on the required reading which is usually from twenty to fifty pages of Prof. Taussig’s “Principles of Economics”. It is to this part of the work that I have given the most of my attention.

The attendance has been excellent at all the meetings at which I have been present. The maximum number of absences in a section of twenty-five does not ordinarily exceed two. One section had but five absences in six successive meetings beginning in the second week of the fall term. This record may not be equaled at meetings close to holidays and other special occasions, but on the whole the attendance is surprisingly good.

The preparation of the students is stimulated and tested by the questions asked of them by the instructor. So generally did it appear that substantially all the students of a section were called upon in an hour that I ceased after a time to attend to the point, though it seems plain that care should be used not to miss sluggish students assigned to seats in the back of the room. How generally the required reading had been done it was difficult to judge. Perhaps on the average three or four at each meeting answered that they were not prepared. At one meeting near the end of the year in another course than Economics A the preparation had been widely neglected, but that was a single case in my experience, and on the whole it seems that success is attained in the attempt to cause the students to work throughout the year with reasonable regularity.

The attention of the students seemed also satisfactory. Nobody went to sleep and apparently very few were near it. I saw no carving of the desks, though many results of such handiwork are visible. A half dozen raised hands would often indicate a strong desire to answer a question or join in the discussion. A considerable number of questions were asked in the class, some showing thought above the realization of ignorance. At some meetings a few students asked questions after the class, though the total number of those so doing was rather disappointing, considering the theoretical and stimulating nature of the subject.

The quality of the thinking done by the students did not seem to equal their attention. That they should show a lack of practical knowledge and of well considered opinions was to be expected in an elementary course; but they showed a striking incapacity for the simplest mental arithmetic, and on one occasion but few, if any, of them had had the curiosity, when studying the different kinds of currency, to look at the bills in their own pockets. And there was frequently illustrated the difference in result between reading and hard study. Often their ideas seemed hazy and too often a whole class seemed unable to answer a question adequately explained in the text. In other words, one who seeks the thoroughness required of a man is disappointed as is also he who expects to find among these students the indifference of an idle boy. When however one remembers that the average student of an elementary course in college is neither boy nor man, but in progress of development from one to the other, one is reasonably satisfied with the attitude and work of the students, and with their response to what is done for them.

In one particular however it seems that special effort should be made to improve the work of the students. In all the section meetings I attended comparatively few notes were taken. A reason may be that it is difficult to take notes of a running discussion; but the results of the discussions are often summarized by the instructor, and nobody can really take notes who can only report a slowly delivered lecture. Moreover in one case apparently not a single member of a section copied from the blackboard figures excellently illustrating the working of a clearing house. I for one should be glad to see lectures delivered to all the students of the College explaining the importance of note taking, and suggesting various practical methods. Further I would have the instructors of this course informally supplement such lectures from time to time by encouraging good note taking.

When the work of the instructor of a section meeting is considered, it is necessary early to realize that one of the most serious limitations under which he works is that of time. The maximum time available weekly for discussion in the section meetings is a short eighty minutes. The average number of pages assigned to be read in four successive weeks was thirty-three, and an experiment showed that it takes three minutes to read aloud one of those pages very rapidly. In other words there are but eighty minutes to discuss a text which cannot be read rapidly in less than one hundred minutes, and which is usually condensed in statement, closely reasoned and in many points debatable. There has therefore arisen a demand for an additional section meeting. This does not appeal to me. Economics A is a course which should be taken by every student in the College, and it should not require an exceptional amount of time from its students lest the number of them taking it be thereby limited. Moreover an additional fifty minutes would not solve the problem; the cry for still another hour would inevitably follow.

The work of the instructor is also rendered difficult by the exceptional nature of the course itself. Economics A is not only an introductory course, but is also the only course in Economics taken by a large proportion of its members. It embraces a great number of topics, each as a rule involving difficult questions of theory and based on a great variety of facts. The amount of ground to be covered is so great that of most topics only a cursory view can be had. It is impossible to pursue to any considerable extent the method of teaching by asking questions introduced into the Law School by Prof. Langdell. With that method, at least in the first year, but little ground can be covered, the facts must be few and certain, and the students either trained to reason closely or ambitious to become so trained. In Economics A the students are two or three years younger than in the Law School, and the facts and principles involved in a simple economic problem are generally of much greater complexity than those contained in the printed report of a law case. Moreover it is a rare person who does not believe that his general knowledge of economics questions is valuable. Therefore the attempt to teach elementary economics by questioning usually leads into a maze of disputed facts. Frequently therefore the instructor can ask questions only until the points are developed and then must make a statement relative to the matter under discussion. These statements are necessary and save much time, but one wonders occasionally if they are fully understood by the students, and whether a question or two after the statement would not furnish a useful test.

The variety, and to some extent the inconsistency, of the objects sought to be accomplished in the section meetings is another difficulty of the instructor. He seems called upon to see that his students do steady work; to check that work for deficiencies; to emphasize the more important, and explain the more difficult parts of a difficult subject; to stimulate intellectual interest and develop good mental habits; and, so far as time allows, to add to the contribution of others further facts and principles. In other words he must be a drill sergeant, an efficient and inspiring teacher, and an authority overflowing with his subject. An illustration of the problems caused by this diversity of objects presents itself when we consider whether it is better to ask single questions of one student after another, or to ask a considerable number of questions of one student before calling on another. If the latter course is followed, the subject can be more thoroughly and consistently developed, and the questioned student better tested and aroused. But then the poorer members of the class may fail to follow the line of questioning or may even regard the considerable time given to one man as an opportunity mentally to go to sleep. A rattling fire of single questions keeps the whole class wide awake.

An observer who has come to realize some of the difficulties of conducting a section meeting, and has seen different methods pursued by different instructors, is tempted to theorize and to select the methods which he thinks he would adopt if he were himself conducting a meeting. He would call upon his students in an order which they could not forsee, and would call on each one of them at least weekly to test his reading of the text. He would use the single question when the simplicity of the subject matter encouraged it, or the class seemed dull, and would seek the opportunity to develop with one student a more complicated problem by a series of questions. He would realize that the limitation of time made it necessary not to attempt to cover in the class all the ground covered by the text, but to plan carefully what topics should be touched upon and the amount of time to be given to each of them, even if his intention was not to hold rigidly to his plan, but to meet the needs of his class as it developed in the meeting. He would try to present in some measure of scale the most important points, although saving time on those which could not fail to be seized by the students because of their relative simplicity or general popular interest. In such an introductory course he would tend to emphasize reasons rather than conclusions, and theory rather than facts, although he would welcome an opportunity to explain and illustrate the actual working in detail of practical affairs. He would as a rule follow the opinions of the text and not complicate a problem by introducing too often his own opinions or those of other authorities; nor would he expect himself largely to contribute additional material to the discussion; yet he would avoid frequent references to the text by name, but endeavor to have a proposition rest not on the authority of the writer but on its own reasonableness. Realizing that a problem is half solved when the definitions of its terms are accurately determined, he would emphasize the importance of the exact meaning of words, and would not infrequently write on the blackboard a list of significant words and phrases as an outline for the work of the meeting.

But even if a method could be determined upon which would be better than any other, its creator would still be far from his goal. The very perfection of the method of one instructor may cause his class to bow to it and hardly ask a question, while the apparent deficiencies of another’s method seems to stimulate his class to ask questions until the ground is well covered. Again a method highly successful with one teacher cannot be effectively pursued by another; and the needs of the students, even of the students of the same section, vary greatly from time to time. Moreover almost every conclusion embodied in a method is a resultant of conflicting considerations and its application is a question of degree. One therefore is here led to an opinion often reached before in similar cases that good teaching is primarily a matter not of method, but of judgment, energy and skill in the teacher.

In studying the characteristics of the instructors of Economics A, one first notes that they are men of very diverse temperaments, experience and methods. So different are they that when I learned that they had a weekly meeting I thought that they might greatly help each other by consultation about their common work, especially as most of them obtain in in this course their first experience in teaching. I was distinctly disappointed when I learned that the object of their weekly meeting was mainly to prepare the questions for the written answer, rather than to consult about the next week’s teaching. Still much consultation, if attempted, might easily become formal or cramping, and it may be better that each should be left alone to work out his results, and that we should trust that freedom will continue to justify itself by its fruits. Whichever plan is followed, the probability that there will occasionally be employed an instructor of inferior quality is sufficiently great to raise the question whether it would not be desirable to have each section taught by different instructors in the first and second half years. This would guarantee to each section at least a half year’s good instruction, and in addition would give to the students the advantage of two methods and two points of view.

In conclusion I am happy to be able to report that in my opinion the instructors of the section meetings of Economics A, with all their differences, are men of an exceptionally high average of ability and earnestness, and that their instruction is notably good,–much better than I had expected to find. The expenditure in the past few years of additional money to better the grade of these instructors has been justified by results, and those responsible for it are entitled to congratulations.

Source: Harvard University Archives. President Lowell’s Papers 1909-1914, Box 14, Folder 404.

Image Source: Wikimedia Commons photograph by Bill McLaughlin : Lowell Hall, originally called “New Lecture Hall”, Harvard University.

Tags Bullock, Burbank, DavisJS, Day, Eldred, Taussig, Vanderblue, WrightPG

Exam Questions Harvard

Harvard. Exams from Principles of Economics. Day, Davis, Burbank et al., 1917-18

Post author By Irwin Collier
Post date 2018-02-20

For most students who go on to concentrate in economics, the principles of economics course is the first contact with the discipline. Like they say, you have only one try to make a first impression. We’ll see in a coming post that Taussig’s textbook Principles of Economics still served as the backbone of the Harvard principles course twenty years later.

________________________

Course Description

INTRODUCTORY COURSES
Primarily for Undergraduates

[Economics] A. Principles of Economics. , Th., Sat., at 11. Asst. Professor Day and Dr. Davis, Dr. Burbank and Messrs. P. G. Wright, Monroe, Lincoln, and Van Sickle.

Course A gives a general introduction to economic study, and a general view of Economics for those who have not further time to give to the subject. It undertakes an analysis of the present organization of industry, the mechanism of exchange, the determination of value, and the distribution of wealth.

The course is conducted partly by lectures, more largely by oral discussion in sections. Taussig’s Principles of Economics is used as the basis of discussion.

Course A may not be taken by Freshmen without the consent of the instructor.

Source: Division of History, Government, and Economics. 1917-18. Official Register of Harvard University, Vol. XIV, No. 25 (May 18, 1917) p. 58.

________________________

Course Enrollment

[Economics] A. Asst. Professor Day and Asst. Professor J. S. Davis, Dr. Burbank, Mr. Monroe, and Dr. E. E. Lincoln.—Principles of Economics.

Total 258: 1 Graduate, 8 Seniors, 73 Juniors, 150 Sophomores, 3 Freshmen, 23 Other.

Source: Harvard University. Report of the President of Harvard College, 1917-18, p. 53.

________________________

1917-18
HARVARD UNIVERSITY
ECONOMICS A
Mid-year Final Examination

Plan your answers carefully before writing. Write concisely. Arrange your answers strictly in the order of the questions, beginning each on a new page.

What is labor? To what extent is it irksome? How, if at all, is the irksomeness of labor to be minimized?
Explain “producers’ surplus.” Under what conditions of cost does it arise? How is monopoly profit to be distinguished from producers’ surplus? Illustrate throughout by diagram.
“Before the war started the bullion value of the U.S. silver dollar, measured in gold, was about 42c. At this rate it took 37 ounces of silver to equal one of gold. Today [October, 1917], with silver bullion at about $1.00 an ounce, the value of a silver dollar is 77c., a ratio of about 20 to 1. It would only take another advance such as occurred within the last month for silver to reach the U.S. coinage ratio of ‘16 to 1.’”
In this case what would happen, and why? Would the consequences be objectionable? If so, on what grounds? If not, why not?
Explain briefly: (a) commercial banking; (b) “deposits as currency”; (c) bank reserves; (d) Federal Reserve notes; (e) Gold Settlement Fund.
Analyze the factors contributing to the present “high cost of living.”
“The nations of the world should adopt a uniform system of currency with a common standard. This would do away with all this bother about ‘par of exchange,’ ‘gold points,’ ‘rate of exchange,’ etc.”
To what extent is this conclusion warranted? Explain.
To what extent does the following offer a solution of the tariff problem?
“In all tariff legislation the true principle of protection is best maintained by the imposition of such duties as will equal the difference between the cost of production at home and abroad.”
Comment briefly upon the following:
“During the days and weeks and months ahead there must be no cessation or lessening of effort on the part on any one of us—man or woman—to keep business healthy and normal.
“Industries of every kind must be maintained to their fullest capacity. Money must be kept in circulation. There must be no hysterical, misguided retrenchment, masquerading under the cloak of economy.
“The nation calls for every encouragement and support that the commercial and industrial forces can supply—and that means everybody doing his bit to keep business booming.”

Source: Harvard University Archives. Department of Economics, Course reading lists, syllabi, and exams 1913-1992 (UA V 349.295.6). Box 1, Folder “Economics I, Final Exams 1913-1939”.

________________________

1917-18
HARVARD UNIVERSITY
ECONOMICS A
Year-end Final Examination

Plan your answers carefully before writing. Write concisely. Arrange your answers strictly in the order of the questions, beginning each on a new page.

What factors tend to limit the extension of (a) large-scale production in agriculture? (b) large-scale production in manufacture? (c) large-scale management, or industrial combination?
Explain briefly: (a) demand; (b) decreasing cost; (c) internal economies; (d) “dumping.”
State carefully: (a) Gresham’s law; (b) the law of diminishing returns; (c) the law of monopoly price; (d) Malthus’s law of population.
To what extent and for what reasons should taxes be employed in financing the present war?
In what respects are business profits like, in what unlike, (a) wages? (b) rent?
What practical expedients would you suggest for raising the wages of workers in the lowest social group?
Discuss the following contention: “One objection to having the state pay people when they are ill or old or out of work is that it saps that personal initiative and prudence and foresight which lie at the basis of an orderly civilization.”
What grounds are there for saying that under a socialistic régime the efficiency of the rank and file of workers would be (a) greater? (b) less?

Source: Harvard University Archives. Department of Economics, Course reading lists, syllabi, and exams 1913-1992 (UA V 349.295.6). Box 1, Folder “Economics I, Final Exams 1913-1939”.

Tags Burbank, DavisJS, Day, Lincoln, Monroe, Sickle, Taussig, WrightPG

Arthur F. Burns’ late NBER application forwarded to Edwin Gay

National Bureau of Economic Research, Inc.

NBER Research Associate Application of Arthur F. Burns (February, 1930)

National Bureau of Economic Research, Inc.

RESEARCH ASSOCIATES’ APPLICATION FORM

THE CANDIDATE

THE PROJECT

THE PROJECT A Study of Long-Time Indexes of Production

References

Publications

Reference Letter: H. P. Willis

Columbia University in the City of New York School of Business

Reference Letter: Willford I. King

AMERICAN STATISTICAL ASSOCIATION

Secretary-Treasurer Willford I. King 530 Commerce Building, New York Univ. 236 Wooster Street, New York City

Reference Letter: F. W. Taussig

HARVARD UNIVERSITY DEPARTMENT OF ECONOMICS

Reference Letter: E. E. Agger

Rutgers University New Brunswick, New Jersey Department of Economics

Reference Letter: Carl Snyder

COPY Thirty Three Liberty Street New York

Reference Letter: Simon Kuznets

NATIONAL BUREAU OF ECONOMIC RESEARCH 51 Madison Avenue, New York

Reference Letter: Robert E. Chaddock

Columbia University in the City of New York Faculty of Political Science

Letter: Edwin F. Gay to Arthur F. Burns

NATIONAL BUREAU OF ECONOMIC RESEARCH 51 Madison Avenue, New York

Obituary from Bezansons of Nova Scotia

PIONEER IN ACADEMIC BUSINESS RESEARCH ANNE BEZANSON, PROFESSOR

Harvard/Radcliffe Academic Record

A.B. magna cum laude in economics.

A.M. Annie Bezanson….Southvale, N.S. [Nova Scotia]

June 1929 Doctor of Philosophy

Economics Coursework

HARVARD UNIVERSITY (Inter-Departmental Correspondence Sheet)

Miss Anne Bezanson, A.B., Radcliffe 1915; A.M., 1916.

Handwritten letter from Bezanson to Burbank

Copies of responses by H.H. Burbank to Bezanson

Principles of Economics (Day with selected topics by Taussig)

ECONOMICS A: Course announcement [1914-15]

ECONOMICS A: Enrollment [1915-16]

ECONOMICS A: Mid-Year Examination [1915-16]

ECONOMICS A: Final Examination [1915-16]

Statistics (Day)

ECONOMICS 1a1: Course announcement [1914-15]

ECONOMICS 1a1: Enrollment [1915-16]

ECONOMICS 1a1: Final Examination [1915-16]

Accounting (Davis)

ECONOMICS 1b2: Course Announcement [1914-15]

ECONOMICS 1b2: Enrollment [1915-16]

ECONOMICS 1b2: Final Examination [1915-16]

European Industry and Commerce in the Nineteenth Century (Gay)

ECONOMICS 2a1: Course announcement [1914-15]

ECONOMICS 2a1: Enrollment [1915-16]

ECONOMICS 2a1: Final Examination [1915-16]

Economic and Financial History of the United States (Gay)

ECONOMICS 2b2: Course Announcement [1914-15]

ECONOMICS 2b2: Enrollment [1915-16]

ECONOMICS 2b2: Final Examination [1915-16]

Money, Banking, and Commercial Crises (Anderson)

ECONOMICS 3: Course Announcement [1914-15]

ECONOMICS 3: Enrollment [1915-16]

ECONOMICS 3: Final Examination [1915-16]

Economics of Transportation (Ripley)

ECONOMICS 4a1: Course Announcement [1914-15]

ECONOMICS 4a1: Enrollment [1915-16]

ECONOMICS 4a1: Final Examination [1915-16]

Economics of Corporations (Ripley)

ECONOMICS 4b2: Course Announcement [1914-15]

ECONOMICS 4b2: Enrollment [1915-16]

ECONOMICS 4b2: Final Examination [1915-16]

Public Finance, including the Theory and Methods of Taxation (Bullock)

ECONOMICS 5: Course Announcement [1914-15]

ECONOMICS 5: Enrollment [1915-16]

ECONOMICS 5: Final Examination [1915-16]

Trade Unionism and Allied Problems (Ripley)

ECONOMICS 6a1: Course Announcement [1914-15]

ECONOMICS 6a1: Enrollment [1915-16]

ECONOMICS 6a1: Final Examination [1915-16]

Economic Theory (Taussig)

NBER Research Associate Application of Arthur F. Burns
(February, 1930)

THE PROJECT
A Study of Long-Time Indexes of Production

Columbia University
in the City of New York
School of Business

Secretary-Treasurer
Willford I. King
530 Commerce Building, New York Univ.
236 Wooster Street, New York City

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

Rutgers University
New Brunswick, New Jersey
Department of Economics

COPY
Thirty Three Liberty Street
New York

NATIONAL BUREAU OF ECONOMIC RESEARCH
51 Madison Avenue, New York

Columbia University
in the City of New York
Faculty of Political Science

NATIONAL BUREAU OF ECONOMIC RESEARCH
51 Madison Avenue, New York

PIONEER IN ACADEMIC BUSINESS RESEARCH
ANNE BEZANSON, PROFESSOR

HARVARD UNIVERSITY
(Inter-Departmental Correspondence Sheet)

ECONOMICS 1a¹: Course announcement [1914-15]

ECONOMICS 1a¹: Enrollment [1915-16]

ECONOMICS 1a¹: Final Examination [1915-16]

ECONOMICS 1b²: Course Announcement [1914-15]

ECONOMICS 1b²: Enrollment [1915-16]

ECONOMICS 1b²: Final Examination [1915-16]

ECONOMICS 2a¹: Course announcement [1914-15]

ECONOMICS 2a¹: Enrollment [1915-16]

ECONOMICS 2a¹: Final Examination [1915-16]

ECONOMICS 2b²: Course Announcement [1914-15]

ECONOMICS 2b²: Enrollment [1915-16]

ECONOMICS 2b²: Final Examination [1915-16]

ECONOMICS 4a¹: Course Announcement [1914-15]

ECONOMICS 4a¹: Enrollment [1915-16]

ECONOMICS 4a¹: Final Examination [1915-16]

ECONOMICS 4b²: Course Announcement [1914-15]

ECONOMICS 4b²: Enrollment [1915-16]

ECONOMICS 4b²: Final Examination [1915-16]

ECONOMICS 6a¹: Course Announcement [1914-15]

ECONOMICS 6a¹: Enrollment [1915-16]

ECONOMICS 6a¹: Final Examination [1915-16]

ECONOMICS 7a¹: Course Announcement [1916-17]

ECONOMICS 7a¹: Enrollment [1915-16]

ECONOMICS 7a¹: Final Examination [1915-16]

ECONOMICS 8¹: Enrollment [1915-16]

ECONOMICS 8¹: Final Examination [1915-16]

ECONOMICS 9¹: Course Announcement [1914-15]

ECONOMICS 9¹: Enrollment [1915-16]

ECONOMICS 9¹: Final Examination [1915-16]

ECONOMICS 12¹: Course Announcement [1916-17]

ECONOMICS 12¹: Enrollment [1915-16]

ECONOMICS 12¹: Final Examination [1915-16]

ECONOMICS 18a¹: Course Announcement [1916-17]

ECONOMICS 18a²: Enrollment [1915-16]

ECONOMICS 18a²: Final Examination [1915-16]

Economics
1915-16