Tag: Harbison

Chicago. Economics Department Budget Proposal for 1944-45 by Simeon Leland, Feb 1944

Post author By Irwin Collier
Post date 2025-12-28

The 1944-45 budget file for the department of economics consists of a three page spreadsheet, is followed by fifteen pages of line item justifications for changes signed by the chairman of the department Simeon E. Leland and a one page budget memorandum by the assistant comptroller (Lincicome) to the Vice President (Filbey). This is an informationally rich document.

For this posting I have converted the item rows of the budget spreadsheet into individual columns for the items. The separate items have then been paired with the line item justifications.

An excerpt from a 1945 development plan by Chairman Leland for the department has been transcribed and posted.

___________________________________

Named in the Instructional Budget, 1944-45

Harbison, Frederick H.

McGuire, Christine H. (Mrs. Jules Masserman)

___________________________________

The University of Chicago
Budget and Appointment Recommendations
1944-45

Division of the Social Sciences
Department of Economics

February 21, 1944

Departmental Recommendations

In presenting the Budget for 1944-45, I am transmitting the recommendations of the Professors in the Department of Economics as decided upon at their meeting February 15, 1944. The specific recommendations, save as to dissents where their own welfare was involved, were unanimous. For convenience, the recommendations are presented in two divisions: (I) The college; (II) The Department. An attempt is also made to consider problems of the future development of the Department.

The College

Recommendations concerning those members of the College staff who have status in the Department will be appended hereto when they are received from Dean Faust. As in the past, the Department has no responsibility in connection with the College and hence does not assume responsibility for recommendations in the College. The Department is glad to incorporate in its budget or transmit through customary channels any recommendations Dean Faust desires to make.

The Department

The recommendations of the Professors in the Department can be classified under four convenient headings: (A) Advancements in Rank and Increases in Salaries Related Thereto; (B) Recommendations as to Changes in Salaries; (C) Appointments ;(D) Future Development of the Department; (E) Recommendations as to Service and Equipment.

Instructional Budget Account

Item No.			1-20
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		$54,600)
	Proposed
		Chairman	$65,550)
		Dean
President’s Recommendation
	Rank
	Salary Level		[….]
	Amount 1944-45

___________________________________

Items requiring no change
in rank or salary

Professor Jacob Viner

Item No.			1
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Viner, Jacob, Prof.
Tenure
	Present Expira.		Sept….
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		$10,000
	Proposed
		Chairman	$10,000
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Professor T. W. Schultz

Item No.			4
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Schultz, T.W., Prof.
Tenure
	Present Expira.		Sept….
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		$9,000
	Proposed
		Chairman	$9,000
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Professor Jacob Marschak

Item No.			6
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Marschak, Jacob, Prof. ([Paid by] Commission
Tenure
	Present Expira.		Dec….
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3 [in Economics] 4 [in Cowles]
	If part-time, approx. %		50% [Economics] 50% [Cowles]
Salary Level
	1943-44		$7,500 Total From Economics $3,750 From Cowles $3,750
	Proposed
		Chairman	$7,500 Total From Economics $3,750 From Cowles, $3,750
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Professor Paul H. Douglas

Item No.			7
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Douglas, P.H., Prof. (On leave, 10/1/42—enlisted)
Tenure
	Present Expira.		Sept….
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		($7,000)
	Proposed
		Chairman	($7,000)
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Assistant Professor Frederick H. Harbison

Item No.			13
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Harbison, F. H., Asst. Prof. (On leave [to 9/30/44] Government Service)
Tenure
	Present Expira.		Sept. 45
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		($4,000)
	Proposed
		Chairman	$4,000
		Dean
President’s Recommendation
	Rank
	Salary Level		[4,000]
	Amount 1944-45

___________________________________

Advancements in Rank and Increases in Salaries Related Thereto

[Note: All departmental recommendations for an advancement in rank were rejected by the President’s Office.]

___________________________________

Associate Professor Lloyd W. Mints

[11] The Department recommends that the rank of Lloyd W. Mints be changed from Associate Professor to Professor of Economics. Mr. Mints has been a member of the staff since 1920, rising successively from Instructor to Assistant Professor to Associate Professor. He has earned the respect of students and colleagues for the thoroughness of his teaching and for his insight into economic and monetary theory. He has been a willing worker and has carried a heavy load of administrative routine for many years in connection with the advising of students. The Department has considered this recommendation on several occasions within the last few years and expected to make the recommendation at a time when Mints’ book on A History of Banking Theory would appear. Through no fault of his own the publication of this work — the fruition of several years’ research — has been delayed due to the war and the shortage of paper. Harper and Brothers have the manuscript in their possession and have agreed to publish it, but because of market difficulties plus rationing of paper stocks actual publication will probably be postponed for some time. It does not seem fair to delay this promotion in hope of finding a strategic occasion for its presentation. If one looks ahead to retirement and the possibility of accumulating a satisfactory annuity, the earlier this promotion is given the greater will be its worth to Mr. Mints. On the other hand, delay may tend to impair morale and produce discouragement, especially when the length of Mints’s service to the University is considered. It is recommended that Mr. Mints’s salary be increased $1,000.

Item No.			11
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Mints, L. W., Prof. (Assoc. Prof.)
Tenure
	Present Expira.		Sept. 45
	New appointment
		From	10/1/44
		Yrs.	[Ind]
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		$4,000
	Proposed
		Chairman	$5,000
		Dean	Ac. Prof.
President’s Recommendation
	Rank
	Salary Level		[$4,500]
	Amount 1944-45

___________________________________

Associate Professor Henry C. Simons

[10] The Department recommends the promotion of Henry C. Simons from Associate Professor to Professor of Economics. Simons has earned the reputation here and among his peers at other institutions of being a brilliant economist. His powers of theoretical analysis are equaled by few men: his scintillating suggestions as to public policy in the fields in which he has written have been widely recognized and favorably quoted; his writings have an originality and style which matches the subjective contributions of his works. Simons’ opinions on many economic subjects are eagerly sought. The Department recommends that his salary be increased $1,500. The recommendations as to advancement in rank and increase in salary will also be supported by the Law School, to which Simons devotes ono-third of his time.

See the Law School recommendations, Item 12. Since the present contract for the Civil Affairs Training Program does not extend throughout the year 1944-45, provision must be made in the regular budget for the salary if a new appointment is to be made from the budget.

Item No.			10
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Simons, H.C., Prof. (Assoc. Prof)
Tenure
	Present Expira.		Sept….
	New appointment
		From	10/1/44
		Yrs.	[Ind]
Service Basis
	Number of quarters		3
	If part-time, approx. %		67 (Econ.) 33 (Law School)
Salary Level
	1943-44		$4,500 (Total) $3,000 (Econ.) $1,500 (Law School)
	Proposed
		Chairman	$6,000 $4,000 (Econ.) $2,000 (Law School)
		Dean	[Ac. Prof]
President’s Recommendation
	Rank		[Ac. Prof]
	Salary Level		[$5,000 (Total)] [$3,333 (Econ.)] [$1,667 (Law School])
	Amount 1944-45

___________________________________

Instructor H. Gregg Lewis

[14] The Department proposes that H. Gregg Lewis be promoted from Instructor to Assistant Professor and that his salary be increased $500, effective upon his return to the University at the close of the war. His work merits this recognition. By the time he returns, it is believed that Lewis will have received his Ph.D. His dissertation is in final stages of preparation.

The leave must be extended if the salary is not to be included in the budget totals.

Item No.			14
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Lewis, H. G. Asst. Prof. (Instructor) (On leave, Govt. Serv. To 9-30-44 to be extended to 9/30/45)
Tenure
	Present Expira.		Sept. 44
	New appointment
		From	10/1/44
		Yrs.	3
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		($3,500)
	Proposed
		Chairman	($4,000)
		Dean
President’s Recommendation
	Rank		[Instructor]
	Salary Level
	Amount 1944-45		[$4,000]

___________________________________

Lecturer Robert K. Burns

[15] The Department desires to recommend the appointment of Robert K. Burns as Assistant Professor, to serve the University on a half-time basis at a stipend of $2,000 per annum. Burns, who holds the title of Lecturer, has carried the bulk of the work of the Department in the field of labor during the past two years. Not only has he carried a heavy instructional load but he has supervised class research, and dissertations as well. Burns has been Regional Director of the War Labor Board in Chicago and has recently been transferred to the Washington office to direct certain new activities of the Board. This promotion came as a recognition of outstanding work. How soon Burns could assume increased responsibilities in the University is not known, but any time his services can be made available the Department is in a position to utilize them effectively. With Harbison and Douglas also in the field of labor, it is believed that a half-time appointment for Burns is all that is now required.

Item No.			15
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Burns, R. E., Asst Prof. (Lecturer, part time).
Tenure
	Present Expira.		June, 44
	New appointment
		From	7/1/44
		Yrs.	3
Service Basis
	Number of quarters		3
	If part-time, approx. %		50
Salary Level
	1943-44		$1,400
	Proposed
		Chairman	$2,000
		Dean
President’s Recommendation
	Rank		[Lect]
	Salary Level		[$2000]
	Amount 1944-45

___________________________________

Changes in Salaries

Professor Frank H. Knight

[2] The Department, over the protest of Frank H. Knight, recommends to the Division that Knight’s salary be increased $1,500 so as to place his compensation on the $10,000 level. If a Distinguished Professorship is available, Knight should receive it; if such a Professorship is unavailable, Knight should receive a stipend as though he were so honored. He is known throughout the world as one of its outstanding economists. His reputation and scholarship extend to the fields of philosophy, ethics, religion, and history, to name but a few. His fellow economists have honored him on many occasions; he has represented them for many years on learned societies. He has been tempted with offers from other institutions. He has been made a Professor of the Social Sciences in recognition of the breadth of his competence. Honor is bestowed on him everywhere; only the University can give him the freedom from financial ills he sorely needs and deserves. His present salary is an embarrassment to the Department, even though it is all charged against the Division.

Item No.			2
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Knight, F. H., Prof. (also Soc.Sci.Div.Instr.
Tenure
	Present Expira.		June….
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		$8,500 From Econ. …. From Soc.Sci.Div. $8,500
	Proposed
		Chairman	$10,000 From Econ. …. From Soc.Sci.Div. $10,000
		Dean
President’s Recommendation
	Rank
	Salary Level		From Soc.Sci.Div. [$9,000) 4]
	Amount 1944-45

___________________________________

Professor John U. Nef

[5] The Department would like to recommend an increase in salary of $1,000 for John U. Nef, but Nef says that he will not hear of it nor accept an increase in compensation. The Department believes that such an increase is well deserved and wants its recommendation to be recorded even if Mr. Nef declines to receive what is manifestly his due.

Item No.			5
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Nef, J.H., Prof. (also History
Tenure
	Present Expira.		Sept….
	New appointment
		From	[10/1/44]
		Yrs.	[Ind]
Service Basis
	Number of quarters		3 [in Economics and History]
	If part-time, approx. %		50% [Economics] 50% [History]
Salary Level
	1943-44		$7,500 Total From Econ. $3,750 From Hist. $3,750
	Proposed
		Chairman	$8,500 Total From Econ. $4,750 From Hist., $3,750
		Dean
President’s Recommendation
	Rank
	Salary Level		[$8,000 Total] [From Econ. $4,250] [From Hist. $3,750 (4]
	Amount 1944-45

___________________________________

Professor Oscar Lange

[9] The Department recommends an increase in salary of $500 for Oscar Lange. When Lange returned to the University of Chicago after a year’s leave at Columbia, he did so at a distinct financial sacrifice. Any continuation of that disadvantage should be removed. It is the opinion of the Department, too, that Simons and Lange should be treated equally with respect to salary and rank. In view of the salary proposed for Mr. Simons, this increase is doubly appropriate.

Item No.			9
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Lange, Oscar, Prof.
Tenure
	Present Expira.		June….
	New appointment
		From	[7/1/44]
		Yrs.	[Ind]
Service Basis
	Number of quarters		3
	If part-time, approx. %
Salary Level
	1943-44		$5,500
	Proposed
		Chairman	$6,000
		Dean
President’s Recommendation
	Rank
	Salary Level		[$6000]
	Amount 1944-45

___________________________________

Appointments

Professor Simeon E. Leland

The new appointment information should be inserted for the position of Chairman.

Item No.			3
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Leland, S.E., Prof. and Chairman (also Political Sci.
Tenure
	Present Expira.		June…. [As Chairman Jun 44]
	New appointment
		From	[7-1-44] [As chairman 7-1-44]
		Yrs.	Ind [as Prof] 3 yrs [as chairman]
Service Basis
	Number of quarters		3 [in Economics and Pol. Sci.]
	If part-time, approx. %		50% [Economics] 50% [Political Sci.]
Salary Level
	1943-44		$8,000 Total From Econ. $4,000 From Pol.Sci. $4,000
	Proposed
		Chairman	$8,000 Total From Econ. $4,000 From Pol.Sci. $4,000
		Dean	$9,000 Total From Econ. $4,500 From Pol.Sci. $4,500
President’s Recommendation
	Rank
	Salary Level		[$9,000 Total] [From Econ. $4,500] [From Pol.Sci. $4,500 (4]
	Amount 1944-45

___________________________________

Professor Chester W. Wright

[8] At the end of the present year Chester W. Wright becomes Professor Emeritus. Up to the present time the Department has been unable to fill Professor Wright’s post. Outstanding scholars of American Economic History are few; promising young men are scarce. Professor Wright’s health and energy are unimpaired. He is at the peak of his career. His recently completed Economic History of the United States is an outstanding achievement. The Department believes that Professor Wright should be invited to remain at the University during the coming year on a half-time basis. The continuance of his work and his presence here will make easier the finding as well as the appointment of a successor. As long aa Professor Wright is in the city the University will be the beneficiary of his work on Library acquisitions. His painstaking labors in the Library over a period of years is reflected in the excellence of the collections of books in Economics and Social Sciences — collections which include rare books, historic volumes and current issues, making our Library one of the best of university libraries.

The desirability of the renewal of Professor Wright’s appointment is strengthened by the fact that Mr. Harold Innis of the University of Toronto, to whom a Professorship in the Department has been offered, has declined our offer for the duration due to his feeling of responsibility toward his own institution in the present emergency. Innis has indicated that when the war is over he will be glad to reconsider our offer. Due also to his great regard for Professor Wright, the renewal of Wright’s appointment for the duration (on a year-to-year basis, as may be required) will be an important factor in inducing Innis to come to the University of Chicago. Probably more than any one person, Wright may be able eventually to induce Innis to join the staff.

If Innis does come to the University of Chicago, he will doubtless wish to devote his attention to Canadian economic history and only gradually devote his energies to continental developments. It will be necessary, therefore, to bring in a young man to teach United States economic history. As has been indicated, promising candidates are hard to find and the Department is unable to recommend a person for appointment at this time. Both Professors Wright and Nef emphasize the difficulties of this task. And, if a recommendation is to be made, the candidate must enjoy the support of senior professors in this field. All of which strengthens the recommendation of the Department for the continuance of Professor Wright’s teaching.

Is the proposed salary to be in addition to the retiring allowance at $3,000 per year?

Item No.			8
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Wright, C. W., Prof. Emer. (Prof.) [(also Retiring Allowance (Total Salary]
Tenure
	Present Expira.		Sept. 44
	New appointment
		From	[10/1/44]
		Yrs.	1
Service Basis
	Number of quarters		3
	If part-time, approx. %		50
Salary Level
	1943-44		$6,500
	Proposed
		Chairman	$3,250
		Dean
President’s Recommendation
	Rank		[Retire 10/1/44]
	Salary Level
	Amount 1944-45		[$1625]

___________________________________

Instructor Henry S. Bloch

[16] It is recommended that the appointment of Henry S. Bloch as instructor be renewed. Bloch at present is devoting his time exclusively to the CATS program, where his salary is charged. Should that training program be liquidated, Bloch’s services can be transferred immediately to Departmental teaching, research, and assistance in advising students. During the past year such needs have arisen, but because of the demands of the military program Bloch has not been able to assist the Department in its civilian program. Attention is called to the fact that Bloch’s salary is on a four-quarter basis.

Our payroll department states that the present appointment for Mr. Bloch at $2,200 per year is charged to the Economics budget and expires June 30, 1944. There is no record of the appointment chargeable to the Civil Affairs Specialists Training Program. Will you please check your records. Also, since the Training Program contract does not cover 1944-45, it is assumed that any salary for next year must be included in the department totals.

Item No.			16
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Bloch, H. S., Inst. (also CATS).
Tenure
	Present Expira.		9/30/44
	New appointment
		From	10/1/44
		Yrs.	1
Service Basis
	Number of quarters		4
	If part-time, approx. %
Salary Level
	1943-44		$3,600 (CATS)
	Proposed
		Chairman	$3,600 (CATS)
		Dean
President’s Recommendation
	Rank
	Salary Level		[$3,600 (CATS)]
	Amount 1944-45

___________________________________

Visiting Professor D. H. Buchanan

[12] D. H. Buchanan of the University of North Carolina is a Visiting Professor assisting in the military training program of the University. It is our understanding that his appointment is for the duration or during the continuance of the military training program. Mr. Buchanan’s salary has been charged against the CATS budget and I presume his appointment will continue at the same rate and so long as this program continues. Buchanan is included in this budget only for the sake of completeness.

Item No.			12
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Buchanan, D. H., Vis. Prof. (also CATS
Tenure
	Present Expira.		Aug. 44
	New appointment		9/1/44 (CATS)
		From	10/1/44
		Yrs.	1
Service Basis
	Number of quarters		4
	If part-time, approx. %
Salary Level
	1943-44		$8,000 (CATS)
	Proposed
		Chairman	$8,000 (CATS)
		Dean	[Do not appoint] [illegible word]
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Research Associate Gale Johnson

[18] The appointment of Gale Johnson as a Research Associate in Agricultural Economics at a four-quarter stipend of $3,700 was recommended during the current year to provide research assistance for Professor T. W. Schultz. Johnson’s appointment will commence as of April 1, 1944.

Item No.			18
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Johnson, Gale, Res.Assoc. in Agri. Economics
Tenure
	Present Expira.		6/30/44
	New appointment
		From	7/1/44
		Yrs.	1
Service Basis
	Number of quarters		4
	If part-time, approx. %
Salary Level
	1943-44		$3,700
	Proposed
		Chairman	$3,700
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

Lecturer John K. Langum

[17] The Department recommends the appointment of John K. Langum, Vice President of the Federal Reserve Bank of Chicago in charge of the Bank’s economic research and statistics, as Lecturer in Banking and Banking Policy. The Department would like to appoint Langum as a Lecturer, with the expectation that the arrangement would continue for many years to the mutual advantage of both institutions. A stipend of $500 is proposed, in return for which Langum would be invited during two Quarters of the academic year to give a seminar or series of evening lectures on current topics in banking and banking policy. These lectures should greatly strengthen the work of the University in the field of banking, a defect in our training and research of which we have long been cognizant. We are anxious to make the appointment at an early date, but will make the expenditure of funds contingent upon adequacy of registrations.

The Langum appointment should bring credit to the University. He is well and favorably known in economic and banking circles. He holds his Ph.D. from the University of Minnesota. He is the author of numerous articles in his field. Recently he has prepared a monograph which the Committee on Economic Development is to publish.

Item No.			17
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Langum, J.K., Lecturer
Tenure
	Present Expira.
	New appointment
		From	1/1/45 (Winter and Spring Quarters)
		Yrs.
Service Basis
	Number of quarters		2
	If part-time, approx. %		Pt.
Salary Level
	1943-44
	Proposed
		Chairman	$500
		Dean
President’s Recommendation
	Rank
	Salary Level		[$500]
	Amount 1944-45

___________________________________

Items 12a, 13a, 15, 1, and 16a are inserted since the individuals have appointments extending beyond June 30, 1944.

Professor Maynard C. Krueger

Item No.			[12a]
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			[Krueger, M. C. As Prof. (also College]
Tenure
	Present Expira.		[Sept. 44]
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		[$4,000]
	Proposed
		Chairman	[$4,000) 4]
		Dean
President’s Recommendation
	Rank
	Salary Level		[$4,000]
	Amount 1944-45

___________________________________

Assistant Prof. Gerhard E.O. Meyer

Item No.			[13a]
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			[Meyer, G.E.O. As. Prof. (also College]
Tenure
	Present Expira.		[Sept. 44]
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		[$2,700]
	Proposed
		Chairman	[$3,500) 4]
		Dean
President’s Recommendation
	Rank
	Salary Level		[$4,000]
	Amount 1944-45

From the spreadsheet it is not clear about the breakdown of source of funding between the Department of Economics and the College.

___________________________________

Instructor/Dean of Students Christine McGuire Masserman

Note: items 15a and 16a refer to the same person. Christine H. McGuire (who married the psychiatrist Jules H. Masserman). Christine H. McGuire is listed in the U.S. National Register of Scientific and Technical Personnel, 1921-1970 as having received a master’s degree in 1938. She later moved from teaching economics to

Item No.			[15a]
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			[McGuire, Christine (Mrs. Jules H. Masserman), Inst. (also College and Dean of Students]
Tenure
	Present Expira.		[Sept 44]
	New appointment
		From
		Yrs.	1
Service Basis
	Number of quarters		4
	If part-time, approx. %
Salary Level
	1943-44		[$2,000
	Proposed
		Chairman
		Dean	[$2,000 Total College (?) $1,500 )4 Economics (?) $500)4]
President’s Recommendation
	Rank
	Salary Level		[$2,000 Total College (?) $1,500 )4 Economics (?) $500)4]
	Amount 1944-45

Instructor C. H. Masserman

Item No.			16a
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			[Masserman, H. H., Inst.]
Tenure
	Present Expira.		[Sept 44]
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		[$2,000]
	Proposed
		Chairman
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

___________________________________

The Future Development of the Department

From time to time the Department has called attention to its future needs. It has appraised its deficiencies and has projected problems certain to arise with the retirement of its staff. Some of the problems are still unsolved; one has been solved with brilliance and good fortune.

1. Agriculture

During the past year one of the long standing weaknesses of the Department was cured with the appointment of T. W. Schultz as Professor of Agricultural Economics. With his coming, two important developments can be undertaken. First, a plan for joint degrees in Agricultural Economics cooperatively undertaken by a few selected land grant colleges can be developed. Already we are negotiating with Purdue University to see if we can agree on the details and administration of such a plan. Second, we hope to introduce Agricultural Economics as a field to be studied by undergraduates in the typical four-year college program. At the present time economics departments throughout the country do not call the attention of students to the problems of agriculture either in the so-called “applied economics” courses or in their general survey courses. This is partly due to the fact of specialization, in which work in agriculture and in agricultural economics has been developed almost exclusively in the land grant colleges. It is also due to the fact that few students as part of their graduate education have been exposed to courses In Agricultural Economics. The Department is offering courses in Agricultural Economics to students as part of a general educational program and as part of their training for advanced degrees. Eventually this should bring to the student in urban colleges of liberal arts, where our students are employed, a better understanding of the problems of agriculture. Sooner or later the general courses in economics should deal with agricultural questions just as they now give attention, for example, to the problems of labor, capital, transportation, taxation, or business organization. It is believed that our Department is pioneering in this field, thanks to the active support and encouragement of the University.

2. Transportation

In times past the Department has called attention to the need for strengthening the work offered in Railroads and Transportation. Chicago is the strategic place for the development of advanced training and research in these related fields. It is the railroad center of the United States; it is its central airport; it is a dominant market for railroad equipment and supplies, and during the war has become an important airplane parts manufacturing center. Motor bus and truck-line activities teem in and around Chicago. To meet this opportunity, the University boasts of but one professor whose interests are largely centered in railroad freight rates and who in recent years has typically been on leave. More emphasis in the future should be given to transportation by motor vehicles and airplanes. A major professorial appointment should be contemplated in the field of transportation.

3. Trusts and Monopolies

The retirement of Professor Wright raises the question as to what should be done with respect to teaching and research in the field of Trusts, Monopolies and Business Combinations. Once each year Professor Wright has given a course in Trusts which from the point of view of training of graduate students has been adequate. The decrease in student enrollment during the war has not made the problem critical. The renewal of Professor Wright’s appointment will solve the question for another year.

The field of Trusts alone is not one of sufficient importance, It is believed, to justify a full-time staff appointment. It could easily be combined with Public Utilities or the Control of Business, depending upon the interests of possible candidates for appointment, but some provision should be made to cover this field in the near future.

4. Public Utilities and Control of Business

The offerings of the Department in the field of Public Utilities has been scant, if courses and research over the years are listed. This is true even if the offerings of other Departments and Schools are taken into account. Prior to the depression, efforts were made to make a professorial appointment in this field. Unfortunately, the nominees of the Department could not be induced to join the faculty. Visiting professors were employed on several occasions but with the advent of the depression this practice had to be discontinued. It may be doubted whether Public Utilities is as important a field as it was over a decade ago. Emphasis now has shifted to the Control of Business, with the regulation of public utilities, the dissolution of trusts and the reduction of competition as phases of larger general problems. The control of business by government (and perhaps by other institutions) has long been of interest to economists and political scientists, as well as business men. It has likewise been the concern of lawyers.

The field is of increasing importance in the future. An outstanding professorial appointment would greatly strengthen the University as a whole.

5. Advanced Statistical Theory

In proposing a joint professorship with the Mathematics Department for Professor Abraham Wald, the Department gave expression to a long-felt desire to expand the work of the University in the field of advanced mathematical theory as applied to statistics. Such an appointment with mathematical advice and consultation available to the faculty on their own research and teaching problems would be invaluable. On the whole, the training of students is secondary to this need and service. By such an appointment our research could be strengthened greatly. It offers the opportunity, too, to develop graduate work in the field of statistics far beyond present limits. It is believed that this view and this conception is shared by the Mathematics Department.

As a matter of University policy a closer integration of courses, training and research in the field of statistics would seem to be desirable. The Institute of Statistics has made progress in this direction. More and more the foundations and advanced training in the field should center in the Mathematics Department, with applications being taught in other Departments and Schools. A major appointment such as the one proposed for Wald would strengthen and facilitate these developments.

Although Wald declined our offer, the Department hopes to join Mr. Bartky, Professor of Applied Mathematics, Associate Dean and Dean of Students in the Division of the Physical Sciences and Chairman of the Institute of Statistics, and Mr. Lane, Chairman of the Department of Mathematics, in presenting another recommendation for an outstanding appointment in this field. Such an appointment is a University need which the Department of Economics shares. The Department will help in any way it can to bring about a noteworthy appointment.

6. Joint Appointments with Other Departments

In suggesting appointments in the fields of Trusts and Monopolies, Railroads and Transportation, Public Utilities and the Control of Business, Advanced Mathematical and Statistical Theory, the Department is cognizant of the fact that University resources are limited and that at any time only the most urgent or most important things can be done. Other Departments and Schools, as well as our own, have problems and claims for financial support. Without attempting to weigh the importance of alternative claims or uses for funds, the recommendations of the Department have been made because we think they are important. They represent a portion of a program oriented toward the future.

In making the suggestions enumerated, appointments to the Department of Economics are not being urged per se. Most of the problems also concern other Departments and Schools. In these fields joint appointments are in order. Thereby other parts of the University as well as our own Department would be strengthened. An appointment in Trusts and Monopolies concerns both the Law School and the Department of Political Science, as well as Economics; Railroads and Transportation also concerns the School of Business; Public Utilities and Control of Business should involve Law, Political Science, Business, and Economics; Urban Planning involves the Departments of Geography, Political Science, Economics and the Schools of Law and Business; Social Legislation affects Social Service Administration, Law and Economics. If the University is interested in furthering this suggested development, the Department is ready to take the initiative. Joint appointments will help us improve our Department, its research and teaching.

7. Visiting Professors

Whenever a need arises or a deficiency becomes evident, the easy solution is to suggest “an outstanding appointment.” This may also be the most costly solution even though it may temporarily increase the size, the number of course offerings or the ego of particular departments. It tends to increase the emphasis on less important aspects of particular branches of knowledge. It expends the applications, or the applied courses, rather than the basic elements of theory or science. The growth and strength of certain departments may be increased by concentrating on the development of the fundamental aspects of their subject matter by the regular full-time members of their faculty and by funds spent on increasing the eminence of this central group, the requisite diversification of teaching or research being secured by means of visiting professorships, continuously utilized to cover first one peripheral subject and then another. By bringing to the Department various men for one or two quarters a year, the best they have to offer both in instruction of students and stimulation of faculty colleagues can be secured at relatively low cost. As different men are brought to the Department the gains from this policy can be extended first to one field and then to another. If it is pursued regularly, it will soon become a tradition that new people with unique contributions to supplement those of the regular staff are always in residence in the Department of Economies at the University of Chicago. The Visiting Professorships should be chosen quite as much for their ability to stimulate and educate their faculty colleagues as to enrich the graduate program, though it is hard to see how one could take place without the other.

Next year may not be the time to inaugurate this policy due to difficulties connected with the war and the possible decrease in exceptional graduate students who would profit most from it, but it is urged that the plan be given a careful trial over a period of several years, within which the Department be allowed to experiment freely to see what could be accomplished. It is suggested that $5,000 per annum be placed at the disposal of the Department for 3 to 5 years to see what it can do for itself and the University in the execution of this policy. If it can not demonstrate the gains from this policy, it should be held to account for its failure.

8. Departmental Lectures

A similar line of thought prompts the Department to ask in addition for the sum of $600 per annum for expenditure on occasional lectures to be given by individuals doing new and unique things about which staff members and their best students would otherwise remain ignorant. Such lectures would have little popular appeal and would attract few outside of the Department, but they would give the faculty the benefit of discoveries, hypotheses an ideas before they become current in the profession. Such Iectures could find their way into print via the Journal of Political Economy, Econometrica, or otherwise, as might be determined. The $600 requested would probably provide only two or three such lectures a year due to the payment of expenses and honoraria.

9. A Special Fund for Student Assistance

The suggestion has been made that there be included among the worthy projects to be submitted to prospective donors proposals for the creation of Departmental Funds for the Assistance of Brilliant Students, such as the Littauer Fund now available at Harvard. This would not be a loan fund but a source of grants-in-aid to supplement fellowships, scholarships, loans and other assistance and would be administered by the respective departments which are close to students, and are, therefore, familiar with their needs. A study of the results attained by the Littauer Center might well justify the search for a similar fund.

Recommendations as to Service and Equipment

The Department is unanimous in recommending an increase in salary of at least $35.00 per month for Mrs. Margaret Finnamore who by vote of the faculty has been acting as Secretary of the Department. If it is possible to have this title confirmed and a new salary classification adopted so as to give effect to the work now being performed by Mrs. Finnamore, the wishes of the Department will be carried out. [“]In running the Department, Mrs. Finnamore is the most essential person.”

The Department feels that it is appropriate to increase the salary of Mrs. Marian Woodyard from $145 to $150 per month.

With the continued increase in members of the Department and the increase in their scholarly output, present clerical and stenographic facilities are inadequate. The situation was eased somewhat last year by the addition of $500 to our Equipment and Expense Account. This sum has been utilized to provide additional typing service for staff members but the need can only be met by the addition of one full-time clerk-stenographer. To provide this assistance and to take care of the salary changes recommended above an increase of $2,040 is needed in our Service Account. (I have reduced our Equipment and Expense Account by $500.)

Item No.			21
Account No.			2624 Service
Name and Proposed Rank (Old rank in parenthesis if change recommended)
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		$3,960)
	Proposed
		Chairman	$6,000
		Dean
President’s Recommendation
	Rank
	Salary Level		[$6,000]
	Amount 1944-45

Equipment and Expense

Item No.			22
Account No.			2625 Equipment and Expense
Name and Proposed Rank (Old rank in parenthesis if change recommended)
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		$1,360
	Proposed
		Chairman	$860
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45

An independent check on the present volume of office and stenographic work, as well as its work-program for the future, would be welcomed to test the reasonableness of this recommendation.

Respectfully submitted,
[signed] Simeon E. Leland

___________________________________

Three items crossed out of economics departmental budget by President

Visiting Professors

Item No.			19
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Visiting Professors
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44
	Proposed
		Chairman	$600
		Dean
President’s Recommendation
	Rank
	Salary Level		[….]
	Amount 1944-45

Lecturers

Item No.			20
Account No.			2621 Instruction
Name and Proposed Rank (Old rank in parenthesis if change recommended)			Lecturers
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44
	Proposed
		Chairman	$5,000
		Dean
President’s Recommendation
	Rank
	Salary Level		[….]
	Amount 1944-45

Agricultural Economic Research & Development

Item No.			23
Account No.			2626 Agricultural Economic Research & Development
Name and Proposed Rank (Old rank in parenthesis if change recommended)
Tenure
	Present Expira.
	New appointment
		From
		Yrs.
Service Basis
	Number of quarters
	If part-time, approx. %
Salary Level
	1943-44		$5,000
	Proposed
		Chairman	$5,000
		Dean
President’s Recommendation
	Rank
	Salary Level
	Amount 1944-45		[In Division Budget]

___________________________________

Source: University of Chicago Library. Department of Special Collections. Office of the President. Hutchins Administration Records. Box 284, Folder “Economics, 1943-1947”.

Image Source: Portrait of Simeon E. Leland. University of Chicago Photographic Archive, apf1-03716, Hanna Holborn Gray Special Collections Research Center, University of Chicago Library. Image colorized by Economics in the Rear-view Mirror.

Tags Bloch, BuchananDH, BurnsR, Douglas, Harbison, JohnsonDG, Knight, KruegerM, Lange, Leland, LewisHG, Marschak, McGuire, MeyerGEO, Mints, Nef, SchultzTW, Viner, WrightCW

Chicago Economics Programs Faculty Regulations

Chicago. Economics A.M. requirements amended to become “Consolation Prize”. Lewis and Schultz, 1950

Post author By Irwin Collier
Post date 2021-05-02

In 1950 the Chicago economics department voted to convert its master’s degree into an award for the successful partial completion of its Ph.D. program. It was to serve as a “consolation prize” for good graduate students but those found not to have the right “Ph.D. stuff” (H. Gregg Lewis’ words in his memo of Sept. 29, 1950 to chairman T. W. Schultz, transcribed below). I have also included the relevant portion of the distributional and examination requirements for the Ph.D. that had already formed part of the so-called “alternate departmental master’s degree”. H. Gregg Lewis’ proposal was largely accepted by the department (minutes from the meeting of November 2, 1950 transcribed below), thereby eliminating distinct tracks for its A.M. and Ph.D. degree programs, respectively.

_______________________

ALTERNATIVE DEPARTMENTAL MASTER’S DEGREE
[1950-51 regulations]

Upon request the Department will consider recommending for the Master’s degree candidates who have satisfied the distribution requirement for the Ph.D. degree and have passed with satisfactory standing the three written field examinations for the Ph.D. degree. One modern foreign language is required. In place of a thesis such candidates may present an acceptable paper or report on a problem approved by the Department.

[…]

Distributional requirement [Ph.D.]. The candidate is expected to have familiarity with the subject matter equivalent to that covered in at least one course (200 or 300 level of reasonable comprehensivenss in each of ten fields (five required and five elected), satisfactory evidence of which can be provided by course credit or by passing a special examination. The required fields are: (a) economic theory, (b) accounting, (c) statistics, (d) economic history, and (e) money, banking, and monetary policy. The fields from which five may be elected are: (f) consumption economics, (g) industrial relations, (h) monopoly and public utilities, (i) agricultural economics, (j) government finance, (k) international economic relations, and (l) substitute fields, but not in excess of two, proposed by the candidate and approved by the Departmental counselor or the Department. One or both of these substitute fields may be outside the Department of Economics, and in general some work outside the Department is recommended with a view to rounding out a program appropriate for the individual student. In case of students transferring from other institutions, adequate training in general history may be substituted for economic history upon the written recommendation of the Departmental counselor.

Preliminary written field examinations [Ph.D.]. In each of three fields of specialization, in addition to presenting course credit or special examinations to show satisfactory preparation, the candidate will be required to pass a written examination.

The candidate is expected to select the three fields of specialization—a primary field and two secondary fields—for intensive graduate work. The primary field is that in which the [Ph.D.] thesis will be written. One of the three fields (primary or secondary) must be that of economic theory, including monetary theory. The fields from which selection is to be made are listed above under the heading “Distributional Requirement,” except that accounting may not be chosen as a field without approval of the Department. One secondary field of specialization may be a field named by the candidate outside the list above, and this may be in a department other than Economics. A secondary field may also be developed under one of the interdepartmental committees of specialization International Relations, Human Development, Planning or Social Thought. The program of work proposed, which ordinarily will include four to five courses, must be approved by the Department. No other secondary field may replace the required field in economic theory.* Students should consult with the Departmental counselor with respect to appropriate programs of work in preparation for the field examinations. The field examinations are given by the Department in the sixth and seventh weeks of the Winter and summer quarters. Application for any field examination should be made not later than the end of the first week of the quarter in which the examination is to be taken.

*Students who take the field examination in money, banking, and monetary policy will not be required to write the monetary theory part of the economic theory examination.

Source: University of Chicago, Announcements. The Division of the Social Sciences, Sessions of 1950-1951, Vol. L, Number 9 (July 20, 1950), pp. 25-26.

_______________________

ECONOMIC COURSES LISTED IN THE LEWIS MEMO (29 Sept 1950) AND INCLUDED IN THE DEPARTMENTAL MINUTES (2 Nov 1950)

209. Intermediate Economic Theory. (Procter Thomson/Harold Gregg Lewis) Designed for students majoring in economics. Deals with factors controlling production, value and relative prices, and distribution.

211. Introduction to Statistics. (Harold Gregg Lewis) Elementary principles of statistics. Main topics: frequency distributions, averages, dispersion, index numbers, elements of the theory of statistical inference.

220. Economic History of the United States. (Earl J. Hamilton) Facts and factors in American’s economic growth from the Colonial period to World War II, including the development of agriculture, industry, commerce, finance, and transportation; economic effects of wars; role of the entrepreneur; rise in living standards; unrest and utopias in periods of stagnation; commercial crises and economic basis of cultural progress.

222. The Rise of Industrial Civilization in Europe. (John Ulrich Nef) Economic development in its relation to religious, political, intellectual and artistic history since the seventeenth century.

230. Introduction to Money and Banking. (Milton Friedman/Lloyd Wynn Mints) Factors which determine the value of money in the short and in the long run; and operation of the commercial banking system and in relation to the price level and general business activity.

240. Introduction to Industrial Relations. (Albert E. Rees) The nature of the labor market; government regulation of wages; social security; the history, structure, and functions of American labor unions; and collective bargaining. Special attention is given to current problems of public policy.

255. Introduction to Agricultural Economics. (D. Gale Johnson). Nature of resources used in agriculture. Prices, production, resource allocation, and income distribution. Analysis of government programs, subsidies, storages, crop control, soil conservation, food-stamp plan.

260. Introduction to Government Finance. (Richard B. Goode) Survey of institutions and theories of government finance. Effects of public expenditures; functions of public revenue; forms of taxation; tax criteria; determination of tax policy; public borrowing; debt management; fiscal policy.

270. International Economics. (Bert F. Hoselitz) The nature of international payments and receipts; foreign trade and banking system. The gold standard in the interwar period. The breakdown of the gold standard and the period of fluctuating exchange rates. Exchange controls, clearing agreements and payments agreements. The second world war and the foreign exchange markets. The position of the International Monetary Fund and the International Bank for Reconstruction and Development in the present world economy.

271. Economic Aspects of International Politics. (Bert F. Hoselitz) An introductory survey, with particular reference to the United States, of the economic policies and activities of governments. Topics: international specialization of production and the distribution of world resources, structure of international exchanges and the mechanism of international transfer of goods and services; tariffs and other regulatory measures; trade agreements and the most-favored nation clause; international flow of capital and investment; the position of the ITO, the IMF, the ECA and other official agencies in international trade and exchange.

300A, 300B. Price Theory. (W. Allen Wallis 300A/Lloyd A. Metzler 300B/Milton Friedman 300B) A systematic study of the pricing of final products and factors of production under essentially stationary conditions. Covers both perfect competition and such imperfectly competitive conditions as monopolistic competition, oligopoly, and monopoly. 300A deals primarily with the pricing of final products; 300B, with the pricing of factors of production.

Source: University of Chicago, Announcements. The Division of the Social Sciences, Sessions of 1950-1951, Vol. L, Number 9 (July 20, 1950), pp. 27-28.

_______________________

THE UNIVERSITY OF CHICAGO

September 29, 1950

To T. W. Schultz

From H.G. Lewis

In Re: Requirements for the Master’s Degree

This is an elaboration of comments made to you this summer concerning the Master’s degree.

I should like to recommend the following changes in our requirements for the A.M. degree:

That the distinction between the “regular” A.M. and the “alternative” A.M. be abolished.
That the departmental requirements for the A.M degree consist of the following alteration of the present alternative A.M. requirements:
1. A distribution requirement covering five (rather than the present eight) fields of economics of which theory, statistics, and money and banking shall be mandatory. Students who do not hold the traditional A.B. degree must meet the requirement by passing satisfactorily a qualifying examination coving the subject matter of Economics 209, 211 (unless the student has passed the Divisional qualifying examination), 230, and two courses chose from 220, 222, 240, 255, 260, 270, 271.¹^/ Students holding the traditional A.B. may meet the requirement by showing equivalent course credit.
2. The passing of two Ph.D. field examinations (with Part I of the Theory exam counting as a full exam) at a satisfactory level (that is, at either the Ph.D. level or at a level somewhat lower but not so low as not to warrant blessing the candidate with a Master’s degree).²^/
3. A showing of competence in economic principles; made either by passing (at the A.M. level or higher) Part I of the Theory examination, by course credits or course examinations in Economics 300A and 300B, or by equivalent course credit.

I would recommend that the changes in requirements become effective as of the beginning of the Summer Quarter, 1951 for students entering the Department in that and later quarters.

1/ This qualifying examination is now offered every quarter. This is an extravagant use of faculty. I should like to see the exam offered only once a year. Furthermore, I should like to permit students to substitute course grades for all or part of the exam provided the course grades are for courses taken here and provided they are not at a level lower than B.

2/ There would be therefore no special examinations for A.M.’s, but the examinations would be graded into three levels: passing for the Ph.D. and A.M. degrees, passing for the A.M. degree but not for the Ph.D., failing for both.

I would urge students to give requirement (b) high priority in preparing their programs of study.

Since the ends sought by these changes can be reached in other ways, I specify below what these ends are.

I view our principal instructional purpose as that of training high-level (Ph.D. and beyond) professional economists. I think we ought to view our training of “junior” economists and the awarding of the A.M. degree only as an incident arising from the fact that at the time a student applies for admission to the department, we cannot predict accurately either his calibre as a student or his academic goals.

It seems to me that the requirements for the Master’s degree should meet these tests:

They should include no requirements which the Department would not make for the Ph.D. degree. Otherwise both student and faculty time will be spent in activities extraneous to the training of high-level economists. The present alternative A.M. meets this test but the regular A.M. does not.
The requirements should be at a level high enough to be respected by the academic world. Both present degrees meet this test, I believe.
But the standards for the degree should not be so high that potentially able Ph.D. candidates will be deterred from entering because of the considerable risk that if they fail to meet Ph.D. standards they will also fail to meet A.M. standards. If we set standards for the A.M. that are almost as likely not to be met as the Ph.D. standards we hold out no “consolation prize” to those good students who are fearful of not being able to meet Ph.D. standards. The present alternative A.M. requirements do not meet this test.

One of the ways by which we can raise the calibre of our Ph.D. candidates without reducing our enrollment is to increase the number of students who are given an opportunity to show at close hand their potentialities to us and to screen out at an earlier date those who are not of Ph.D. stuff. I am confident that quite accurate screening can take place ordinarily by the end of the first year of graduate residence. I contemplate our using the A.M. requirements as a screening device; the present alternative A.M. is not satisfactory from that point of view since it postpones too long the screening decision.

Source: University of Chicago Archives. Department of Economics Records. Box 41, Folder “41.8”.

_______________________

MINUTES
Meeting of the Department

Time and Place: Thursday, November 2, 1950, at 1:00 p.m. in Room 424, Social Science Research Building.

Present: T. W. Schultz (chairman), H. G. Lewis, A. Rees, R. Goode, G. Tolley, D. G. Johnson, F. H. Harbison, J. Marschak, C. Hildreth, F. Knight, L. Metzler.

Handling of Student Business
It was agreed that all bona fide applications for admission to candidacy filed this quarter would be considered as falling under present degree requirements even though Departmental action does not take place until Winter quarter.
Ford Foundation
Schultz stated that as a Department we have an obligation to ourselves, to the University, and to the community more largely to think through carefully the problem of making the best use of the Ford Foundation’s present grant of $300,000 to the University as well as possible later grants. There was a brief general discussion of the problem.
Departmental Rules Governing Residence and Availability to Students
Schultz pointed out that in the current year we have been able for the first time to reduce direct teaching loads for most of our members to four courses per year or less. This reduction, he pointed out, makes it desirable that the Department impose upon itself rules governing residence and availability to students and others in the university community lest they be imposed upon us from outside. The problem of rules for residence involves not only a rule stipulating in some way minimum residence, but also the question of whether “free” quarters out of residence should be considered a matter of a right accruing to an individual from his residence or a privilege dependent upon ad hoc decisions made by the Department chairman and the Dean. Schultz expressed himself as being in favor of a rule somewhat similar to the rules for accumulating sabbatical leave under a 3Q contract. In addition there is the problem of insuring, perhaps by rule, “availability” when in residence. The formulation of appropriate rules is to come before the Department for its consideration in the Winter quarter.
The Department considered Lewis’ recommendations for changes in the A.M. requirements. (See attached memo. [above]) the following amendment of Lewis’ recommendation was passed:
1. That the distinction between the regular A.M. and the “alternative” A.M. degrees be abolished.
2. That the Departmental requirements for the A.M. degree consist of the following:
  1. A distribution requirement to be met by passing a “Qualifying” examination covering the subject matter of Economics 209, 211 (unless the student has passed the Divisional qualifying examination) 220 or 222, 230 and two courses chosen from 240, 255, 260, 270, and 271. Students holding the traditional A.B. may satisfy the requirement by equivalent course credit.
  2. The passing of two Ph.D. field examinations (with Part I of the Theory examination counting as an examination) at a satisfactory level of A.M. candidates.
  3. A showing of competence in economic principles; made either by (at the A.M. level or higher) Part I of the Theory examination, by course credits or examinations in Economics 300A and 300B, or by equivalent course credit.
  4. An acceptable paper or report on a problem approved by the Department. The paper will be read by two members of the Department of which the course instructor will be one in the event the student submits a term paper prepared for a course.

The above changes in requirements are to become effective as of the beginning of the Summer quarter, 1951 for students entering the Department in that and later quarters.

It was understood that the above motion in no way changes present preliminary examinations or other requirements for the Ph.D. degree. Professor Knight asked the minutes to show his objection to dropping Economics 210 (Accounting) from the requirements for the A.M. degree.

Student Business
1. Petitions

Lawrence Bostow’s petition for approval of French and Russian as languages for the Ph.D. was approved.

Mr. H. M. Herlihy’s petition for the field of “Social Organization” (Sociology Department) as his third field for the Ph.D. degree was approved.

Mr. John Holsen’s petition for a third Ph.D. field in Planning (Planning Department) was approved. Mr. Johnson, his counselor, was asked to inform Mr. Holsen, however, that this approval does not entitle Holsen to shorten his total program in Economics for the Ph.D.

Mr. Edward Mishan’s petition for approval of Spanish as a Ph.D. language was denied.

1. Admission to Candidacy

Mr. Howard Ammerman’s application for admission and for approval of a thesis topic was moved to the bottom of the list of applications.

Mr. Rondo E. Cameron’s application for admission to candidacy for the Ph.D. degree was recommended to the Division for approval, contingent upon his passing the Theory examination (written Summer, 1950) and his proposed thesis topic, “French Foreign Investment, 1815-1870,” was approved. Thesis committee: E. J. Hamilton, chairman, L. Metzler, P. Thomson.

After some discussion, Mr. Clifford Clark’s application was moved down the list. Lewis was instructed to advise Clark to consult with Hamilton concerning the latter’s misgivings about the proposed thesis topic, and in addition to confer with Hayek, Knight, and other members of the Department concerning the thesis topic.

Mr. George P. Coutsoumaris’ application for admission to candidacy for the Ph.D. degree was recommended to the Division for approval, contingent on his passing the Theory examination (written Summer, 1950), and his proposed thesis topic, “Possibilities of Increasing Economic Efficiency in Greek Agriculture,” was given qualified approval, the Department suggesting that he limit the topic somewhat preferably to a topic approximately the same as that covered in the sections (VII and VIII) of his outline dealing with capital in Greek agriculture. Thesis committee: D. G. Johnson, chairman, C. Harris, J. Margolis (planning).

Mr. David Fand’s proposed thesis topic, “Monetary Theory of the Federal Reserve Board,” was discussed. It was agreed to come back to it at the next meeting after several more of the members of the Department had an opportunity to discuss the topic with Fand.

The meeting was adjourned at 3:05 p.m.

Source: University of Chicago Archives. Department of Economics Records. Box 41, Folder “41.8”.

Images: University of Chicago Photographic Archive, H. Gregg Lewis [apf1-03861] and T. W. Schultz [apf1-07479], Hanna Holborn Gray Special Collections Research Center, University of Chicago Library.

Tags Cameron, Friedman, Goode, Hamilton, Harbison, Hildreth, Hoselitz, JohnsonDG, Knight, LewisHG, Marschak, Metzler, Mints, Nef, Rees, SchultzTW, ThomsonP, Tolley, Wallis

Chicago Economics Programs Economists Fields

Chicago. Schedule of the preliminary economics exams for the Ph.D. and A.M., Summer 1951

Post author By Irwin Collier
Post date 2020-05-06

The following schedule for preliminary examinations in economics at the University of Chicago from the summer quarter of 1951 comes from Milton Friedman’s papers at the Hoover Institution Archives. We see that he was on the two economic theory examination committees along with Lloyd Metzler and Frank Knight. Besides providing the names of the faculty members serving on the nine committees, the schedule also provides the names of the sixty students registered for the examinations during that quarter.

____________________

DEPARTMENT OF ECONOMICS

SCHEDULE FOR PRELIMINARY EXAMINATIONS
FOR THE PH.D. AND FOR THE A.M.

Summer Quarter, 1951

The schedule below shows the examinations requested for the current quarter. Will the chairman of each committee please be responsible for turning in the complete examination at least one week before the date on which it is to be given?

Date	Examination	Committee	Students Registered
Thurs., Aug. 2 8:30 Law Court	Agricultural Economics	D.G. Johnson, chr. C. Hildreth T.W. Schultz	Dunsing, Marilyn (A.M.) Fox, Kirk (Ph.D) Hughes, Rufus (Ph.D.) Taylor, Maurice (Ph.D.)
Tues., July 31 8:30 Law Court	Economic Theory I	L. Metzler, chr. M. Friedman F. Knight	Baskind, Irwin (Ph.D.) in abs. Bassett, Marjorie (Ph.D.-A.M.) Blumberg, Lionel (Ph.D.-A.M.) Chen, Ho-Mei (Ph.D.) Chen, Sze-te (Ph.D.-A.M.) Chien, Chih Chien (Ph.D.) Cleaver, George (Ph.D.) Dunsing, Marilyn (A.M.) Emmer, Robert (Ph.D.) Fox, Kirk (Ph.D.) Frank, Andrew (Ph.D.-A.M.) in abs Gustus, Warren (Ph.D.) Heizer, Raymond (Ph.D.) Herlihy, Murray (Ph.D.) Hoch, Irving (Ph.D.) Hughes, Rufus (Ph.D.) Krawczyk, Richard (Ph.D.-A.M.) in abs Lerner, Eugene (Ph.D.) Liang, Wei K. Liang (Ph.D.) Lininger, Charles (Ph.D.) Lurie, Melvin (Ph.D.) McGuire, Charles (Ph.D.) Malhotra, Man Mohan (Ph.D.) Malone, John (Ph.D.) Mitcham, Clinton (Ph.D.-A.M.) Morrison, George (Ph.D.-A.M.) Sonley, Lorne (Ph.D.) Taylor, Maurice (Ph.D.) Terrell, James (Ph.D.-A.M.) Toscano, Peter (Ph.D.) Traeger, Gordon (Ph.D.-A.M.) Viscasillas, Felipe (Ph.D.) Waldorf, William (Ph.D.) Weir, Thomas (Ph.D.) Weiss, Roger (Ph.D.-A.M.) Zelder, Raymond (Ph.D.)
Tues., Aug. 7 8:30 Law Court	Economic Theory II	L. Metzler, chr. M. Friedman F. Knight	Chen, Ho-Mei (Ph.D.) Herlihy, Murray (Ph.D.) Hoch, Irving (Ph.D.) Toscano, Peter (Ph.D.) Weir, Thomas (Ph.D.)
Thurs., Aug. 9 8:30 Law Court	Government Finance	P. Thomson, chr. J. Marschak D.G. Johnson	Frank, Andrew (Ph.D.-A.M.) in abs Haskell, Max (Ph.D.) in abs Henry, Edward L. (Ph.D.) Horwitz, Bertrand (Ph.D.-A.M.) Lininger, Charles (Ph.D.) Selden, Richard (Ph.D.)
Thurs., Aug. 9 8:30 Law Court	Industrial Relations	F. Harbison, chr. E. Hamilton H.G. Lewis	Barghout, Saad (Ph.D.) Bechtolt, Richard (Ph.D.) Hoch, Irving (Ph.D.) Liang, Wei K. (Ph.D.) Mullady, Philomena (Ph.D.) Ness, David (Ph.D.)
Thurs., Aug. 2 8:30 Law Court	International Economics	L. Metzler, chr. B. Hoselitz A. Rees	Alberts, William (Ph.D.) Anderson, Edwin (Ph.D.) in abs Chen, Sze-te (Ph.D.-A.M.) Chien, Chih Chien (Ph.D.) Cleaver, George (Ph.D.) Frank, Andrew (Ph.D.-A.M.) Glick, Milton (Ph.D.-A.M.) Gustus, Warren (Ph.D.) Lukomski, Jesse (Ph.D.-A.M.) Mitcham, Clinton (Ph.D.-A.M.) Morey, Donald J. (Ph.D.-A.M.)
Tues., Aug. 7 8:30 Law Court	Money, Banking, and Monetary Policy	L. Mints, chr. E. Hamilton J. Marschak	Alberts, William (Ph.D.) Bauer, Milton (Ph.D.) Blumberg, Lionel (Ph.D.-A.M.) Chen, Sze-te (Ph.D.-A.M.) Chien, Chih Chien (Ph.D.) Cleaver, George (Ph.D.) Conomikes, George (Ph.D.-A.M.) Davis, George (Ph.D.) in abs Emmer, Robert (Ph.D.) Heizer, Raymond (Ph.D.) Horwitz, Bertrand (Ph.D.-A.M.) Hughes, Rufus (Ph.D.) Krawczyk, Richard (Ph.D.-A.M.) in abs Lerner, Eugene (Ph.D.) Liang, Wei K. (Ph.D.) Lukomski, Jesse (Ph.D.-A.M.) Meckling, William (Ph.D.) Mitcham, Clinton (Ph.D.-A.M.) Morey, Donald (Ph.D.-A.M.) Ogawa, George (Ph.D.) Smulekoff, Suzanne (Ph.D.-A.M.) Sonley, Lorne (Ph.D.) Taylor, Maurice (Ph.D.) Terrell, James (Ph.D.-A.M.) Traeger, Gordon (Ph.D.-A.M.) Zelder, Raymond (Ph.D.) Zingarelli, Carla (Ph.D.-A.M.) Rayack, Elton (Ph.D.) in abs
Thurs., Aug. 2 8:30 Law Court	Statistics	T. Koopmans, chr. C. Hildreth H.G. Lewis	Cagan, Phillip (Ph.D.) Hogan, Lloyd (Ph.D.) Katzman, Irwin (Ph.D.) Malhotra, Man Hohan (Ph.D.) Waldorf, William (Ph.D.)
Thurs., Aug. 2 8:30 Law Court	Economic History	E. Hamilton	Mullady, Philomena (Ph.D.) Toscano, Peter (Ph.D.)

Source: Hoover Institution Archives. Papers of Milton Friedman. Box 76, Folder “University of Chicago ‘Economic Theory’”.

Tags Cagan, Friedman, Hamilton, Harbison, Hildreth, Hoselitz, JohnsonDG, Knight, Koopmans, LewisG, Marschak, Metzler, Mints, Rees, Schultz, ThomsonP

Chicago Economics Programs Economist Market

Chicago. Draft memo of a program to rebuild the department of economics by T.W. Schultz, 1956

Post author By Irwin Collier
Post date 2019-04-04
3 Comments on Chicago. Draft memo of a program to rebuild the department of economics by T.W. Schultz, 1956

The following draft memo by T. W. Schultz outlines the serious faculty replacement needs of the University of Chicago department of economics in the mid-1950s. Particularly noteworthy, aside from the impressive list of lost faculty, is the appended table listing the sponsored research/3rd party funders of the economics department at that time. One also sees that the department had been authorized to make offers to Kenneth Arrow, Robert Solow and Arthur F. Burns. So much for the best-laid plans of mice and men. A better historian of economics than I might spin a counterfactual tale of a post-Cowles Chicago with Arrow and Solow on the faculty.

Regarding the ICA Chile Enterprise: Economic Research Center, Schultz wrote “The Chilean enterprise will give us a fine ‘laboratory’ in which to test ourselves in the area of economic development– a major new field in economics.” This reminds me of the old Cold-War Eastern European joke about whether Marx and Engels were scientists (“No, real scientists would have tried their experiments on rats first”). What a “fine ‘laboratory'” for testing oneself!

_________________________

A Program of Rebuilding the Department of Economics
(first draft, private and confidential – T. W. Schultz, May 22, 1956)

Your Department of Economics has been passing through a crisis. Whether it would survive as a first rate department has been seriously in doubt, with one adversity following another as was the case up until last year. It is now clear, however, that we have achieved a turning point in that we can rebuild and attain the objective which is worth striving for – an outstanding faculty in economics.

The crisis came upon us as a consequence of a combination of things: (1) the department, along with others in the University, had been denied access to undergraduate students of the University who might want to become economists; (2) Viner left for Princeton, Lange for Poland, Yntema for Ford and Douglas for the Senate; (3) the Industrial Relations Center drained off some of our talent and when it jammed, Harbison left for Princeton; (4) Mr. Cowles’ arbitrary decision to shift “his” Commission to Yale was a major blow; (5) Nef been transferring his talents to the Committee on Social Thought, and (6) add to all these the retirement of Knight.

Meanwhile, there were several external developments which did not reduce our difficulties: (1) a number of strong (new) economic centers were being established – at Stanford, Johns Hopkins, Yale, Vanderbilt, M.I.T. and with public funds at Michigan and Minnesota; (2) our salaries were falling behind seriously relative to some of the other places, and (3) recruiting of established, highly competent economists became all but impossible given the crisis that was upon us and the (then) low repute of the University neighborhood.

The ever present danger of the past few years has been that we would be in the judgment of competent colleagues elsewhere, in the beliefs of oncoming graduate students and in the eyes of the major foundations – not recover our high standing but instead sing to a second or even a third-rate department and in the process lose the (internal) capacity to recruit and rebuild.

We now have achieved a turning point distinctly in our favor.

The major efforts which have contributed most have been as follows:

We have taken full advantage of our unique organization in combining real research with graduate instruction. Our research and instruction workshops are the result. The Rockefeller Foundation gave us three grants along the way – agricultural economics, money and public finance – to test this approach and advanced graduate work. The Ford Foundation has now financed our workshops with $200,000 (eight 5-year grant) (our proposal of January 1956 to The Ford Foundation states the theory and argues the case for this approach on the basis of the experiences we have already accumulated).
We set out aggressively to recruit outstanding younger economists. The workshops were a big aid to us in doing this; so was the financial support of the University. We had the ability to “spot them”. We now have the best group of talented young economists, age 30 and less, to be found anywhere. This achievement is rapidly becoming known to others in keen “competition” is already upon us as a consequence.
We need urgently to run up a lightning rod, a (rotating) professorship with a salary second to none, to attract talent and make it clear we were in business and would pay for the best. The Ford Foundation took favorably to the idea. (Thought so well of it that they will do the same for 3 other privately supported Universities – Columbia, Harvard and Yale!)
The $500,000 endowment grant from them for a rotating research professorship is our reward.
The foundations have given us a strong vote of confidence: grants and funds received by the Department of Economics during 1955-56 now total $1,220,000. (A statement listing these is attached).
The marked turn for the better in the number and the quality of students applying for scholarships and fellowships is, also, an affirmative indication.
The Economics Research Center is filling a large gap in providing computing, publishing and related research facilities which was formally a function of the Cowles Commission.
The Chilean enterprise will give us a fine “laboratory” in which to test ourselves in the area of economic development – a major new field in economics.

There remains, however, much to be done. We must, above all, not lose the upward momentum which is now working in our favor.

Faculty and University Financial Support

To have and to hold a first rate faculty in economics now requires between $225,000 and $250,000 of University funds a year.

To have a major faculty means offering instruction and doing research in 8 to 10 fields. Up until two years ago we came close to satisfying the standard in our graduate instruction. We then had 11 (and just prior to that, 12) professors on indefinite tenure.

Then, Koopmans and Marschak were off to Yale, Harbison to Princeton and Knight did reach 70. And, then there were 7. On top of these “woes” came the serious illness of Metzler which greatly curtailed his role; and, Nef having virtually left economics. Thus, only 5 were really active in economics with Wallis carrying many other professional burdens. Meanwhile we added only one – Harberger was given tenured this year.

Accordingly at the indefinite tenure level we are down to about one-half of what is required to have a major faculty. Fortunately, several younger men have entered and have been doing work of very high quality.

It should be said that the Deans and the Chancellor have stood by, prepared to help us rebuild.

Major appointments were authorized – Arrow, Stigler, Solow and others. We still are hoping that Arthur F. Burns will come.

The resignations and the retirement, however, did necessarily reduce sharply the amount of financial support from the University.

In rebuilding, at least five additional tenure positions will be required:

Labor economics (from within)
Trade cycle (we hope it will be Arthur F. Burns, already authorized).
Money
Econometrics and mathematical economics.
Business organization
Consumption economics (when Miss Reid retires; next 3 years we shall have the extra strength of Dr. D. Brady with finances from The Rockefeller Foundation)
International trade (pending Metzler’s recovery)
Economic development.

The faculty and the University financial support recommended is as follows:

Tenured positions (for individuals fully committed to economics).

1. Now in the harness

6: Friedman, Johnson, Harberger, Hamilton (Metzler), Wallis (Nef), Schultz

1. To be added

5: Burns pending, (labor), (money), and two other fields, most likely econometrics and business organization

Budget: 11 [tenured positions]	$165,000
Metzler and Nef	$15,000
	$180,000
III. Supplementary non-tenure faculty	$45,000
Altogether	$225,000

Outside Financial Support for the Department of Economics

Grants	Amount of grant	Available 1956-57
A. Received during 1955-56.
1. Sears Roebuck Fellowships	$4,000	$4,000
2. National Science Foundation (2 years)	$13,000	$6,500
3. Conservation Foundation (2 years)	$33,000	$16,500
4. Rockefeller Foundation: consumption economics (3 years)	$45,000	$15,000
5. American Enterprise (2 years)	$17,250	$8,625
6. Ford Foundation: research and instructional workshops (5 years)	$200,000	$30,000
7. Earhart Fellowships.	$6,000	$6,000
8. S.S.R.C. Student Grants	$5,000	$5,000
9. Ford Foundation: 3 pre-doctoral grants	$10,200	$10,200
10. Ford Foundation: faculty research grant (Hamilton)	$12,500	$8,000
11. ICA Chile Enterprise: Economic Research Center Fellowships, research support (3 yrs)	$375,000	$125,000
12. Ford Foundation: endowment for rotating research professor	$500,000	$25,000
13. Rockefeller Foundation: Latin America (Ballesteros)	$5,000	$5,000
Sub-totals	$1,225,950	$264,825
B. Received prior to 1955-56 where funds are available for 1956-57.
1. Rockefeller Foundation: workshop in money (3 years with one year to go)	$50,000	$20,000
2. Rockefeller Foundation: workshop in public finance (3 years with one year to go)	$50,000	$20,000
3. Resources for the Future (3 years with one year to go)	$67,000	$27,000
4. Russian Agriculture (2 years with one to go)	$47,000	$22,000
B sub-totals	$214,000	$89,000
A and B totals	$1,439,950	$353,825

Source: University of Chicago Archives. Department of Economics Records. Box 42, Folder 8.

Image Source: 1944 photo of T.W. Schultz from University of Chicago Photographic Archive, apf1-07479, Special Collections Research Center, University of Chicago Library. Cf. Wikimedia Commons, same portrait (dated 1944) from Library of Congress.

Tags Arrow, Brady, BurnsAF, Cowles, Douglas, Friedman, Hamilton, Harberger, Harbison, JohnsonDG, Knight, Koopmans, Lange, Marschak, Metzler, Nef, Reid, SchultzTW, Solow, Stigler, Viner, Wallis, Yntema

Chicago Economics Programs Fields

Chicago. Memo to Dean from Chair of Economics. Strengths & Weaknesses, 1955

Post author By Irwin Collier
Post date 2018-03-16

What I found particularly striking in the following memo, written by the chairman of the Chicago department of economics in 1955, is the number of fields in which the department saw itself weak or at least in need of support: labor, international, mathematical economics and econometrics, development, and industrial organization. Perhaps this was just a matter of administrative strategy, beg for assistance for five fields and hope to actually get assistance for three. That said, Schultz does not appear to be engaging in three-dimensional chess here. Will be interested in hearing what other people think about the this memo.

_______________________

Carbon Copy of Strengths and Weaknesses Memo
T.W. Schultz to Dean Chancy D. Harris

September 22, 1955

[To:] Dean Chancy D. Harris
[From:] Theodore W. Schultz
[Re:] Department of Economics

It may be helpful to have me briefly state the major elements of strength and, also, of weaknesses which I see in economics, in the hope that these notes may serve you as you prepare your presentation for the trustees.

Elements of Strength

A comparatively young faculty strongly committed to research and graduate instruction.
Research and related seminars are effectively organized as small scale enterprises:
1. Workshop on Money
2. Workshop on Public Finance
3. Resources Research Enterprise
4. Technical Assistance Studies
5. Studies of Russia Agriculture
6. Inventory Studies
Satisfactory foundation support for some of the workshops and research enterprises now underway:
1. Rockefeller Foundation supporting the money and public finance workshops.
2. Resources for the Future supporting the resources research.
3. Ford Foundation supporting the technical assistance studies.
4. Also, for individual research, the Rockefeller Foundation support of economic history of Professor Hamilton.
U. S. Government contracts and grants are proving satisfactory in financing some research:
1. The inventory studies
2. Russian agriculture work
Financial support for competent advanced graduate students doing research is available from the several small scale research enterprises and, also, from SSRC (Griliches this year); from Earhart funds (Nerlove); and from corporations (Oi)
Our new Ph.D. theses procedure is proving most effective in bringing student and faculty resources to bear on productive research.
The new Economic Research Center of the Department is now proving important and necessary overhead facilities and services required by faculty and students working in the several small scale research enterprises.
The new arrangements with the University Press to publish our Studies in Economics represents a major advance.
The Journal of Political Economy continues strong as Prof. Rees and Miss Bassett take over.
While we are not satisfied with the “quality” of many of our graduate students, we appear to be holding our own in a period when many averse factors are at work in lowering the quality of students in most branches, and also in economics generally as it appears.

Elements of Weakness

Too many of the faculty are now in junior roles and there are too few major staff members on indefinite tenure in view of the fields of specialization in economics, the range and number of advanced graduate students, and the research work that is underway.
With Professor Harbisons’s leaving and the non-functioning of the Industrial Relations Center in economics, our work in labor economics needs to be reorganized and strengthened. This replanning is now underway. Research resources are required: about $20,000 a year would be optimum.
We are not prepared to serve adequately most of the many (representing about 30% of our graduate students) foreign students working in economics:
1. Many of them should be in a modified Master’s program.
2. Relevant research should concentrate on “developmental” problems.
3. More effort is required to guide their work.
The Department is now weak in International Economics because of the illness of Professor Metzler.
The work in consumption economics has not been made as effective as it should be in bringing major graduate students into play in research.
The reorganization and staffing of work in Mathematical Economics and Econometrics, with the Cowles Commission leaving, is unfinished business:
1. Professor Hans [a.k.a., “Henri”] Theil is here this year as visiting Professor.
2. Plans beyond this year await action.
3. No research support at present for advanced students or for complementary staff in this important area.
The broad area of Economic Development requires major attention and it should be placed high on our agenda as we develop plans and staff during the next few years:
1. This area is needed to serve especially graduate students from foreign countries.
2. The economic problems are important to the U.S. scene also.
3. The Research Center for Economic Development and Cultural Change and importantly the “Journal” it has established need to be drawn into this new effort.
4. Major new research resources are required.
The long neglected field of Industrial Organization.

Some Concrete Steps

To establish the work in Mathematical Economics about $20,000 a year will be required for a “professor” to head this work, for complementary staff, and related research.
To establish the new enterprise now contemplated in Economic Development about $50,000 a year appears essential.
In this area, a professorship, a visiting professor for each of the next several years, complementary staff, student research in a workshop and support for the Journal “Economic Development and Cultural Change.”
Also in Labor Economics we need to move to a professorship and research support of about $20,000 a year.
How to strengthen the work in International Economics must await developments affecting Professor Metzler’s recovery.
There remains then the long neglected area usually referred to as Industrial Organization. Since no major individual has emerged here or elsewhere, we are compelled to “invest” in a younger person in breaking into this area.

Source: University of Chicago Archives. Department of Economics Records. Box 42, Folder 8.

Image Source: T. W. Schultz, University of Chicago Photographic Archive, apf1-07484, Special Collections Research Center, University of Chicago Library.

Tags Griliches, Hamilton, Harbison, Metzler, Nerlove, Oi, Rees, SchultzTW, Theil

Chicago Economists

Chicago. Historical Enrollment Trends, Economics Faculty by Age and Educational Background. 1944-45.

Post author By Irwin Collier
Post date 2016-10-09

__________________________

On April 10, 1945, the chairman of the University of Chicago’s economics department, Professor Simeon E. Leland, submitted a 77 page (!) memorandum to President Robert M. Hutchins entitled “Postwar Plans of the Department of Economics–A Wide Variety of Observations and Suggestions All Intended To Be Helpful in Improving the State of the University”.

In his cover letter Leland wrote “…in the preparation of the memorandum, I learned much that was new about the past history of the Department. Some of this, incorporated in the memorandum, looks like filler stuck in, but I thought it ought to be included for historical reasons and to furnish some background for a few of the suggestions.”

In a recent post I provided a list of visiting professors who taught economics at the University of Chicago up through 1944 (excluding those visitors who were to receive permanent appointments). For this post I have selected a few supporting tables from the memo providing data on the age distribution and educational backgrounds of the economics faculty along with time series on enrollments and registrations. A later post provides talent-scouting lists for possible permanent, visiting and joint appointments.

______________________________

In making his plea for administration support for new additional hires, Chairman Leland began by noting that in 1944 Professor Chester Wright “was transferred to the emeritus status”. Negotiations with Professor H. A. Innis of the University of Toronto to succeed Wright were taking place but Leland did not appear to be overly confident, having written “If he [Innis] does not [accept a Chicago offer], due to the scarcity of men in Economic History, the post occupied by Professor Wright will be very difficult to fill.”

Looking ahead over the six years before the retirements of Knight and Kyrk were scheduled, Leland hoped to get support to begin the process of hiring younger faculty (only three of the staff were under 40 years of age as of the end of 1944), so that (1) gaps in the existing program would not occur and (2) promising new fields could be covered.

Furthermore Leland argued “…the Department does not seem to have enough young men as instructors and assistant professors. As a result, the chores of running a department, including sharing in administration and advising students, fall heavily on the older, higher-salaried men on the staff.”

Ages of Staff Members
(as of December 31, 1944)

Name	Rank	Age	Came to University of Chicago
Bloch, Henry Simon	Instructor	29	1939
Douglas, Paul Howard	Professor*	52	1920
Harbison, Frederick Harris	Assistant Professor	33	1940
Knight, Frank Hyneman	Professor	59	1917-19; 1927
Kyrk, Hazel	Professor; also Home Economics	59	1925
Lange, Oscar	Professor	40	1938
Leland, Simeon Elbridge	Professor; also Political Science	47	1928
Lewis, Harold Gregg	Instructor*	30	1939
Marschak, Jacob	Professor	46	1943
Mints, Lloyd Wynn	Associate Professor	56	1919
Nef, John Ulric	Professor; also History	45	1929
Schultz, Theodore William	Professor	42	1943
Simons, Henry Calvert	Associate Professor	45	1927
Viner, Jacob	Professor	52	1916

This list does not include part-time instructors (3), research associates (3), lecturers, or members of the college staff (3).

*On leave for military service

______________________________

To reassure the President that the department was not in danger of “inbreeding” the following table was included in the memo. Leland’s first comment was that the educational backgrounds of the economics faculty included some 18 U.S. and 13 foreign institutions. While noting a significant concentration of Harvard and/or Chicago training of the economics faculty, only five of the fourteen actually had advanced training at Chicago and of those just two held Ph.D.’s from Chicago as of 1945 (Kyrk and Leland).

Educational Institutions Attended by Members of the Department of Economics

Name and Rank	Degrees or Advanced Training			Other Work
Name and Rank	A.B.	A.M.	Ph.D.	Other Work
H. S. Bloch (Instructor)	Nancy*	Nancy	Strasbourg* Paris’ Nancy (Dr. en Droit)	Acad. Int’l. Law The Hague
P. H. Douglas (Professor)	Bowdoin	Columbia	Columbia	Harvard
F. H. Harbison (Asst. Prof.)	Princeton	Princeton	Princeton
F. H. Knight (Professor)	Tennesee(B.S.) Milligan (Ph.B.)	Tennessee	Cornell University	American University, Harriman, Tennessee
H. Kyrk (Professor)	Ohio Wesleyan* Chicago (Ph.B.)		Chicago
O. Lange (Professor)	Poznan*	Cracow (LL.M.)	Cracow (LL.D.)	London
S. E. Leland (Professor)	De Pauw	Kentucky	Chicago	Harvard Law School
H. G. Lewis (Instructor)	Chicago	Chicago*	Chicago*
J. Marschak (Professor)		Oxford	Heidelberg	Technolog. Institut, Kiev Berlin
L. W. Mints (Assoc. Prof.)	Colorado	Colorado	Chicago*
J. U. Nef (Professor)	Harvard (B.S.)	Paris* London* Montpellier*	Brookings
T. W. Schultz (Professor)	South Dakota State	Wisconsin	Wisconsin
H. C. Simons (Assoc. Prof.)	Michigan	Michigan*	Iowa* Chicago* Columbia* Berlin*
J. Viner (Professor)	McGill	Harvard	Harvard

*Work taken at this level; no degree conferred.

______________________________

Two time series were included in Leland’s memo to provide evidence for an upward trend in the demand for economics courses: enrollments and course registrations.

It is difficult to forecast the postwar enrollment in Economics. Since 1928 there has been a steady upward trend in the number of students majoring in the Department, as is shown in the following table. Even the depression only slightly retarded the growth of our student body. Part of the increase was due to the emphasis given our subject matter by the events of the Thirties. Another factor responsible for the gain in students was the strength of the faculty—its reputation in the United States and abroad.

Total Number of Different Graduate Students Majoring in the Department of Economics Who Have Been in Residence a Part or All of the Years Indicated Below

Years	Number of Students
1943-44	57
1942-43	77
1941-42	133
1940-41	162
1939-40	156
1938-39	144
1937-38	133
1936-37	113
1935-36	111
1934-35	98
1933-34	114
1932-33	111
1931-32	125
1930-31	113
1929-30	118
1928-29	101

The trend of registrations in the Department for “200- and 300-level courses” (roughly corresponding to former undergraduate and graduate registrations) is shown in the following table. Data are shown only since 1931-32 inasmuch as statistics prior to that date included introductory courses for College freshmen and sophomores. This inflates all statistics prior to 1931 and destroys their validity for comparative purposes. The peak of enrollment in Economics came in 1938-39. It is believed that comparable enrollments will reappear soon after the cessation of hostilities.

Registration in Courses Offered by the Department of Economics

Years	Quarters
	Summer		Autumn	Winter	Spring
	First Term	Second Term
1944-45	74
1943-44	62		202	138	185
1942-43	252	237	249	207	153
1941-42	214	206	329	396	406
1940-41	264	225	455	529	516
1939-40	262	224	431	589	583
1938-39	277	244	560	516	689
1937-38	249	214	477	447	592
1936-37	243	206	407	438	457
1935-36	245	218	367	503	534
1934-35	239	206	325	460	398
1933-34	183	174	361	371	396
1932-33	278	244	337	427	244
1931-32	233	224	443	411	339

Source: University of Chicago Library, Department of Special Collections. Office of the President. Hutchins Administration Records. Box 73, Folder “Economics Dept., “Post-War Plans” Simeon E. Leland, 1945″.

Tags Bloch, CW Wright, Douglas, Harbison, Innis, Knight, Kyrk, Lange, Leland, LewisHG, Marschak, Mints, Nef, SchultzTW, Simons, Viner

Named in the Instructional Budget, 1944-45

The University of Chicago Budget and Appointment Recommendations 1944-45

Division of the Social Sciences Department of Economics

Instructional Budget Account

Items requiring no change in rank or salary

Professor Jacob Viner

Professor T. W. Schultz

Professor Jacob Marschak

Professor Paul H. Douglas

Assistant Professor Frederick H. Harbison

Associate Professor Lloyd W. Mints

Associate Professor Henry C. Simons

Instructor H. Gregg Lewis

Lecturer Robert K. Burns

Professor Frank H. Knight

Professor John U. Nef

Professor Oscar Lange

Professor Simeon E. Leland

Professor Chester W. Wright

Instructor Henry S. Bloch

Visiting Professor D. H. Buchanan

Research Associate Gale Johnson

Lecturer John K. Langum

Professor Maynard C. Krueger

Assistant Prof. Gerhard E.O. Meyer

Instructor/Dean of Students Christine McGuire Masserman

Instructor C. H. Masserman

ALTERNATIVE DEPARTMENTAL MASTER’S DEGREE [1950-51 regulations]

ECONOMIC COURSES LISTED IN THE LEWIS MEMO (29 Sept 1950) AND INCLUDED IN THE DEPARTMENTAL MINUTES (2 Nov 1950)

MINUTES Meeting of the Department

DEPARTMENT OF ECONOMICS

SCHEDULE FOR PRELIMINARY EXAMINATIONS FOR THE PH.D. AND FOR THE A.M.

Summer Quarter, 1951

A Program of Rebuilding the Department of Economics (first draft, private and confidential – T. W. Schultz, May 22, 1956)

Faculty and University Financial Support

Outside Financial Support for the Department of Economics

Carbon Copy of Strengths and Weaknesses Memo T.W. Schultz to Dean Chancy D. Harris

Elements of Strength

Elements of Weakness

Some Concrete Steps

Ages of Staff Members (as of December 31, 1944)

Educational Institutions Attended by Members of the Department of Economics

Total Number of Different Graduate Students Majoring in the Department of Economics Who Have Been in Residence a Part or All of the Years Indicated Below

Registration in Courses Offered by the Department of Economics

The University of Chicago
Budget and Appointment Recommendations
1944-45

Division of the Social Sciences
Department of Economics

Items requiring no change
in rank or salary

ALTERNATIVE DEPARTMENTAL MASTER’S DEGREE
[1950-51 regulations]

MINUTES
Meeting of the Department

SCHEDULE FOR PRELIMINARY EXAMINATIONS
FOR THE PH.D. AND FOR THE A.M.

A Program of Rebuilding the Department of Economics
(first draft, private and confidential – T. W. Schultz, May 22, 1956)

Carbon Copy of Strengths and Weaknesses Memo
T.W. Schultz to Dean Chancy D. Harris

Ages of Staff Members
(as of December 31, 1944)