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Economists Harvard Radcliffe Swarthmore

Harvard. Wolfgang Stolper describes his training in letter to Hobart College, 1941

 

This post provides Wolfgang Stolper‘s own description of his academic training, teaching and research interests as of early 1941 in a letter to the President of Hobart College regarding his application for an assistant professorship. Stolper’s Harvard coursework for 1934-37 was transcribed for an earlier post. He was on the job market for the 1941-42 academic year after having taught a wide range of courses at Harvard since completing his Ph.D. in 1938. 

Hobart’s offer ended up being only 73% of the offer he was to receive from  Swarthmore (and which he accepted). From the April 29, 1941 letter from President’s office at Swarthmore:  “I realize that the salary which we are offering you [$3300] is considerably under what you have been receiving this year. It is, however, the equivalent of your combined Harvard and Radcliffe salaries for the past two years…” A follow-up letter from the President of Swarthmore College dated May 7, 1941 confirmed the approval of Stolper’s appointment as Assistant Professor of Economics at Swarthmore for 1941-42 at a salary of $3300 ($900 higher than the Hobart offer).

Also of some interest is the rather casual/modest mention of what ultimately was to become Wolfgang Stolper’s greatest hit: “Right now I am finishing another article on Protection and Real Wages.”

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Carbon copy of Wolfgang Stolper’s letter
to President of Hobart College

Wolfgang F. Stolper

19 Ware Street
March 18, 1941

Mr. Brooks Otis
Hobart College
Geneva, N.Y.

 

Dear Mr. Otis,

I am writing this letter to you about my background and training, as you suggested at our meeting on March 17. If you think it desirable either you or I can ask the Harvard appointment office to send you all the documents concerning me.

First about my background. I was born in Vienna in May 1912. There I went to elementary school and through the first three years of high school. We then moved to Berlin where I finished high school (humanistisches Gymnasium) in 1930, and where I also studied law for three semesters. I then went to Bonn, where I studied law and economics in about the same proportions. My economics teachers were Professors Spiethoff, who is now retired, H. v. Beckerath, who is now at Chapel Hill, and Schumpeter who is now in Harvard. From Bonn I went to to Zürich where I wrote a thesis under Professor Eugen Grossmann on the reasons, economic and otherwise, which lead the various nations to defend different economic policies during the World Economic Conference in London in 1933.

In August 1934 I came to Harvard as a Holtzer fellow, and I held a University fellowship during the next year 1935/36. Since 1936 I have been teaching. I took somewhat more than the required eight courses, my main interests within the field of economics being: Theory, Money and Banking, Business Cycles, International Economic Relations, and Building.

In May, 1935 I took my M.A., and in May, 1938 I got my Ph.D.. My thesis was on the British housing boom from 1931-36, and its connection with monetary policy in the widest sense.

My teaching experience has been quite extensive, more so, I believe, than that of most of my colleagues. Besides the usual complement of tutees and the principles course I have been giving half of the lectures in the course on International Economic Relations [Econ 43a,  Report of the President of Harvard College 1938-39, p. 98;  Report of the President of Harvard College 1939-40, p. 99;  Report of the President of Harvard College 1940-41, p. 58,], and I am this year assisting Professors Haberler and Hansen in the course on Business Cycles [Econ 45a, Report of the President of Harvard College 1940-41, p. 58]. In Radcliffe College I am also giving a section of the course on principles, half of the course on International Economic Relations, and also half of the course on Business Cycles [Radcliffe College. Courses of Instruction 1940-41, pp. 43, 45.]. This year I was also asked to give a University Extension course on International Economic Relations [Report of the President of Harvard College 1940-41, p. 347].

The list of my publications does not look too impressive. I have published a number of short book reviews in the American Economic Review, a short theoretical article in the Quarterly Journal. My thesis which I have revised and brought up to date will be published by the Harvard University Press. I also just signed a contract with Blakiston Co. to write a text on International Trade together with my friend, Dr. H.K. Heuser who is Professor at the Fletcher School of Law and Diplomacy. Right now I am finishing another article on Protection and Real Wages.

Perhaps I should add that I am married and have a ten-year old son.

I hope that this information is what you wanted. My teachers and senior colleagues will of course be glad to give you any information about me which you might want. I need hardly add that I am very interested in the position, and that I, therefore, hope very much to hear from you again in the not too distant future.

Yours very sincerely,

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Job Offer to Wolfgang Stolper from Hobart College

HOBART COLLEGE
Geneva, New York

April 29, 1941

The President

 

Mr. Wolfgang F. Stolper
19 Ware Street
Cambridge, Massachusetts

 

Dear Mr. Stolper:

I regret to think that more than a month has passed since I talked with you at Cambridge. Doubtless you have gathered that we had entirely lost interest in you in the interim. That is, however, by no means the case. Since we have to appoint three men at this time, a sociologist, a political scientist and an economist we have, necessarily, had to proceed rather slowly. Our major preoccupation so far has not been Economics simply because we have had to concentrate on one thing at a time. We have now, however, reached a point where the Economics appointment is directly concerning us.

I am writing this letter to you to find out more definitely what your expectations would be. The plain fact is that we find that we cannot offer the salary that we should like to. The best thing that we can do for next year in Economics is an Assistant Professorship at twenty-four hundred dollars ($2400.00). I might also add, as I think I said to you personally, that anyone appointed to this position would have considerable freedom in the choice of courses and in the teaching, and a considerable opportunity to influence the operation and planning of the whole Social Science curriculum here in cooperation with his colleagues in Sociology and Political Science,–that is, of course, if he cared to do so.

If it is not too much trouble, would you drop me a line stating whether you would still be interested in the job as outlined above?

Very truly yours,
[signed]
Brooks Otis

BO/bg

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Carbon copy of Stolper letter
declining Hobart offer

Wolfgang F. Stolper

19 Ware Street
May 2, 1941

Mr. Brooks Otis
Hobart College
Geneva, N.Y.

 

Dear Mr. Otis,

Thank you very much for your letter of April 29. I regret very much that I have to reject your offer to come to Hobart next year since I have just accepted a position as Assistant Professor at Swarthmore College.

I was very glad to have had a chance of meeting you, and I hope very much that this letter will not be the end of our relationship.

Very truly yours,

 

Source:Duke University. David M. Rubenstein Rare Book & Manuscript Library. Economists’ Papers Archive. Wolfgang F. Stolper Papers, Box 23, Folder “[illegibly marked]”

Image Source: Wolfgang F. Stolper from  John Simon Guggenheim Memorial Foundation (Fellow, 1947).

Categories
Harvard Seminar Speakers

Harvard. International Economic Relations Seminar. Haberler and Harris, 1940-45

 

The most famous economics seminar at Harvard University in the history of economics is undoubtedly the fiscal policy seminar run by John Williams and Alvin Hansen. A list of that seminar’s speakers and their topics was included in an earlier post. Below I provide the reported speaker’s and topics for the “younger” international economic relations seminar jointly organized by Gottfried Haberler and Seymour Harris during the War years.

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EXPANSION OF THE SEMINAR PROGRAM

Several additions have been made in the seminar program of the School [of Public Administration] for the year 1940-1941. Professors Haberler and Harris are presenting a seminar on international economic relations. We planned our seminar program in 1937 on the assumption that it was wise to begin with domestic problems despite the fact that a number of the Faculty had special interests in the international field. In view of the events of the last few years, it seems highly important to develop these interests. The seminar given by Professors Haberler and Harris deals with the application of the principles of international trade to current problems…

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1939-40, p. 306.

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1940-41
INTERNATIONAL ECONOMIC RELATIONS SEMINAR
[partial list]

[Seven of the meetings of the Fiscal Policy Seminar were held jointly with other seminars – four with the International Economic Relations Seminar and three with the Agricultural, Forestry, and Land Policy Seminar.]

 

October 11. SVEND LAURSEN, Student, Graduate School of Arts and Sciences, Harvard University.

Subject: International Trade and the Multiplier. (Joint meeting with Fiscal Policy Seminar.)

February 21. HARRY D. WHITE, Director, Division of Monetary Research, United States Treasury Department.

Subject: Blocked Balances. (Joint meeting with Fiscal Policy Seminar.)

March 21. RICHARD V. GILBERT, National Defense Advisory Commission.

Subject: The American Defense Program. (Joint meeting with Fiscal Policy Seminar.)

May 2. GUSTAV STOLPER, Financial Adviser.

Subject: Financing the American Defense Program. (Joint meeting with Fiscal Policy Seminar.)

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1940-41, p. 323 ff.

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INTERNATIONAL ECONOMIC RELATIONS SEMINAR:
1941-1942. Professor Haberler and Associate Professor Harris

In 1941-42 the seminar devoted its attention to war and post-war problems in the field of International Economic Relations. A few meetings were spent on the discussion of fundamental theoretical problems. During the first semester all meetings were taken up by papers of outside consultants and their discussion. In the second semester student reports were presented and discussed, and a few extra meetings were arranged for outside speakers. The consultants and their topics were as follows:

 

October 1. EUGENE STALEY, Fletcher School of Law and Diplomacy. Economic Warfare.

October 8.[**] CHARLES P. KINDLEBERGER, Federal Reserve Board. Canadian-American Economic Relations in the War and Post-War Period.

October 15.[**] A. F. W. PLUMPTRE, University of Toronto. International Economic Position of Canada in the Present Emergency.

October 22. HEINRICH HEUSER, Fletcher School of Law and Diplomacy. Exchange Control.

October 29. FRITZ MACHLUP, University of Buffalo. The Foreign Trade Multiplier.

November 5. HENRY CHALMERS, United States Department of Commerce. Trade Restrictions in Wartime.

November 12. ARTHUR R. UPGREN, United States Department of Commerce. International Economic Interest of the United States and the Post-War Situation.

November 19. OSKAR MORGENSTERN, Princeton University. International Aspects of the Business Cycle.

November 28.[*] NOEL F. HALL, British Embassy. Economic Warfare.

December 5.[*] ROBERT BRYCE, Department of Finance, Canada. International Economic Relations with Special Reference to the Post-War Situation.

January 26.[*] PER JACOBSSEN, Bank for International Settlements. The Problem of Post-War Reconstruction.

February 13.[*] JACOB VINER, University of Chicago. Monopolistic Trading and International Relations.

February 18. H. D. FONG, Director, Nankai Institute of Economics, Chungking, China. Industrialization of China.

February 25. MICHAEL HEILPERIN, Hamilton College. International Aspects of the Present and Future Economic Situation.

March 11. JACOB MARSCHAK, New School for Social Research. The Theory of International Disequilibria.

March 14.[*] RICHARD M. BISSELL, JR., Yale University and the United States Department of Commerce. Post-War Domestic and International Investment.

March 18. ANTONIN BASCH, Brown University. International Economic Problems of Central and Southeastern Europe.

March 20.[*] ALBERT G. HART, University of Iowa. The Present Fiscal Situation.

April 10. ABBA P. LERNER, University of Kansas City. Post-War Problems.

May 8. HORST MENDERSHAUSEN, Bennington College. International Trade and Trade Policy in the Post-War Period.

 

Six of these were joint meetings with the Fiscal Policy Seminar [*] and two were joint meetings with the Government Control of Industry Seminar[**].

Student reports were presented on the following subjects:

Argentine International Trade.
Exchange Control in Argentina.
Some Aspects of Sino-Japanese Trade.
International Effects of Price Ceilings.
Location Theory and the Reconstruction of World Trade.
Some Post-War Politico-Economic Problems of the Western Hemisphere.
Economic Problems and Possibilities of a Pan Europe, Pan America and Similar Schemes.
The Balance of Payments of China.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1941-42, pp. 344-346.

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INTERNATIONAL ECONOMIC RELATIONS SEMINAR
1942-43. Professor Haberler

A larger portion of the time of the seminar than usual was devoted to the discussion of fundamental principles of international trade and finance. This was due to the fact that the graduate course on international trade (Economics 143) was not offered, and the seminar had to take over to some extent the functions of the graduate course.

There were eleven meetings with outside consultants, of which eight were joint meetings with the Fiscal Policy seminar. The smaller number of students made it advisable to combine the two seminars more frequently than usual. The consultants and the topics discussed with them were as follows:

 

November 13. Professor FRITZ MACHLUP, University of Buffalo. (Joint meeting with Fiscal Policy seminar.)

Subject: National Income, Employment and International Relations; the Foreign Multiplier.

November 18. Dr. THEODORE KREPS, Economic Adviser, Board of Economic Warfare, Office of Imports.

Subject: Some Problems of Economic Warfare.

November 27. Hon. GRAHAM F. TOWERS, Governor, Bank of Canada. (Joint meeting with Fiscal Policy seminar.)

Subject: Canadian War Economic Measures.

December 4. LYNN R. EDMINSTER, Vice-Chairman, U. S. Tariff Commission. (Joint meeting with Fiscal Policy seminar.)

Subject: Post-War Reconstruction of International Trade.

December 11. Professor SEYMOUR E. HARRIS, Director, Office of Export-Import Price Control, Office of Price Administration. (Joint meeting with Fiscal Policy seminar.)

Subject: Trade Policy in Wartimes.

February 12. THOMAS MCKITTRICK, President, Bank for International Settlements. (Joint meeting with Fiscal Policy seminar.)

Subject: The Bank for International Settlements.

February 24. Dr. LEO PASVOLSKY, State Department. (Joint meeting with Fiscal Policy seminar.)

Subject: Post-War Problems in International Trade.

March 3. P. T. ELLSWORTH, War Trade Staff, Board of Economic Warfare.

Subject: The Administration of Export Control.

April 12. EMILE DESPRES, Office of Strategic Services, Washington, D. C. (Joint meeting with Fiscal Policy seminar.)

Subject: The Transfer Problem and the Over-Saving Problem in the Pre-War and Post-War Worlds.

April 16. Dr. ALBERT HAHN. (Joint meeting with Fiscal Policy seminar.)

Subject: Planned or Adjusted Post-War Economy.

April 20. Dr. ALEXANDER LOVEDAY, League of Nations.

Subject: European Post-War Reconstruction.

 

Student reports were presented on the following subjects among others: practice and theory of an international bank; post-war industrialization of China; coordination of fiscal policy in different countries; international position of the Brazilian economy; international commodity agreements; international implications for fiscal policy; British exchange equalization account; and Argentine exchange control.

Twelve students were enrolled in the seminar of which four were Littauer fellows, seven graduate students from the Graduate School of Arts and Sciences, and one from the College.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1942-43, pp. 246-247.

 

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INTERNATIONAL ECONOMIC RELATIONS SEMINAR
1943-44. Associate Professor Harris

A new approach was tried in the International Economic Relations Seminar this year. We paid particular attention to the international economic problems of Latin America and especially to the problems raised by the great demand for Latin American products for war, the expansion of exports and of money, and the resulting inflation. Attention was also given to the transitional problems in the postwar period, particularly to the adjustments that will be required in exports, imports, capital movements, exchange rates, and the allocation of economic factors. In the course of the year leading government authorities on Latin American economic problems were invited to address meetings of the seminar, which were frequently joint meetings with the Fiscal Policy Seminar or the students of the graduate course in international organization.

The schedule of meetings for 1943-44 was as follows:

 

November 12. Professor HARRIS.

Subject: Inflation in Latin America.

December 9. Dr. CORWIN EDWARDS, Chairman, Policy Board of the Anti-Trust Division of the Department of Justice and Chief of Staff of the Presidential Cooke Commission to Brazil.

Subject: Brazilian Economy.

December 17. Dr. HARRY WHITE, Director of Monetary Research, Treasury Department.

Subject: Problems of International Monetary Stabilization.

January 6. Professor HARRIS.

Subject: International Economic Problems of the War and Postwar Period.

January 10. Professor HABERLER.

Subject: Reparations.

January 14. Dr. N. NESS, Member, Mexican-U. S. Economic Commission.

Subject: Mexico.

January 17. Dr. BEARDSLEY RUML, Chairman, Federal Reserve Bank of New York.

Subject: Economic Budget and Fiscal Budget.

January 21. Dr. P. T. ELLSWORTH, Economic Studies Division, Department of State.

Subject: Chile.

January 24. Dr. DON HUMPHREY, Special Advisor on Price Control to Haitian Government; Chief, Price Section, O.P.A.

Subject: Haiti.

January 31. Dr. ROBERT TRIFFIN, Member, U. S. Economic Commission to Paraguay.

Subject: Money, Banking, and Foreign Exchanges in Latin America.

February 4. Dr. MIRON BURGIN, Office of Coordinator of Inter-American Affairs.

Subject: Argentina.

February 9. Dr. FRANK WARING, Director, Research Division, Office of Coordinator of Inter-American Affairs.

Subject: Broad Aspects of Latin-American Economics.

February 10. Dr. BEN LEWIS, Head of Price Control Mission to Colombia, Special Assistant to the Price Administrator.

Subject: Colombia.

March 9. Dr. HENRY CHALMERS, Department of Commerce.

Subject: Inter-American Trade Practices.

March 31. Mr. HENRY WALLICH.

Subject: Fiscal Policy and International Equilibrium.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1943-44, pp. 271-2.

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INTERNATIONAL ECONOMIC RELATIONS SEMINAR
Professor Haberler and Associate Professor Harris

The seminar meetings in the year 1944-1945 may be arranged under the following headings:

  1. Exchanges, Controls, and International Trade (8 meetings)
  2. Regional Problems (8 meetings).
  3. Regional and International Aspects of Domestic Problems (8 meetings).
  4. Lectures and Discussions on International Trade by Professors Haberler and Harris (8 meetings).

Four of the papers presented at these meetings were subsequently published in economic journals.

The schedule of meetings for 1944-1945 was as follows:

November 16. Dr. RANDALL HINSHAW, Federal Reserve Board.

Subject: American Prosperity and the British Balance-of-Payments Problem. (Published in the Review of Economic Statistics, February 1945.)

December 11. EDWARD M. BERNSTEIN, Assistant Director, Division of Monetary Research, Treasury Department.

Subject: The Scarcity of Dollars. (Published in The Journal of Political Economy, March 1945.)

December 15. Dr. FRANCIS MCINTYRE, Representative of the Foreign Economic Exchange on Requirements Board of the War Production Board.

Subject: International Distribution of Supplies in Wartime.

December 21. Dr. ALEXANDER GERSCHENKRON, Federal Reserve Board.

Subject: Some Problems of the Economic Collaboration with Russia.

January 11. Dr. WOLFGANG STOLPER, Swarthmore College.

Subject: British Balance-of-Payments Problem After World War I.

January 22. Dr. WALTER GARDNER, Federal Reserve Board.

Subject: Some Aspects of the Bretton Woods Program.

January 26. Dr. WILLIAM FELLNER, University of California.

Subject: Types of Expansionary Policies and the Rate of Interest.

January 29. Professor WALTER F. BOGNER, Dr. CHARLES R. CHERINGTON, Professors CARL J. FRIEDRICH, SEYMOUR E. HARRIS, TALCOTT PARSONS, ALFRED D. SIMPSON, and Mr. GEORGE B. WALKER.

Subject: The Boston Urban Development Plan.

March 5. Dr. ROBERT TRIFFIN, Federal Reserve Board.

Subject: International Economic Problems of South America.

March 19. Dr. LOUIS RASMINSKY, Foreign Exchange Control Board, Ottawa, Canada.

Subject: British-American Trade Problems from the Canadian Point of View. (Published in the British Economic Journal, September I945.)

March 22. Dr. ROBERT A. GORDON, War Production Board.

Subject: International Raw Materials Control: War and Postwar.

March 26. Dr. HERBERT FURTH, Federal Reserve Board.

Subject: Monetary and Financial Problems in the Liberated Countries.

April 2. Dr. LLOYD METZLER, Federal Reserve Board.

Subject: Postwar Economic Policies of the United Kingdom. (An article based on this paper and written in collaboration with Dr. RANDALL HINSHAW was published in The Review of Economic Statistics, November 1945.)

April 16. Professor EDWARD S. MASON, State Department, Washington.

Subject: Commodity Agreements.

April 23. Dr. ABBA P. LERNER, New School for Social Research, N. Y.

Subject: Postwar Policies.

April 27. Professor JOHN VAN SICKLE, Vanderbilt University.

Subject: Wages and Employment: A Regional Approach.

May 14. Dr. E. M. H. LLOYD, United Relief and Rehabilitation Administration, British Treasury.

Subject: Inflation in Europe.

May 28. Professor LEON DUPRIEZ, University of Louvain, Belgium.

Subject: Problem of Full Employment in View of Recent European Experience.

May 29. Professor SEYMOUR E. HARRIS, Professor WASSILY W. LEONTIEF, Professor GOTTFRIED HABERLER, Professor ALVIN H. HANSEN.

Subject: The Shorter Work Week and Full Employment.

 

Source:   Harvard University. Report of the President of Harvard College and Reports of Departments for 1944-45, pp. 285-6.

 

Categories
Exam Questions Harvard Suggested Reading Syllabus

Harvard. International Trade and Commercial Policy. Haberler, Harris, Leontief 1940

 

Of the fields with a deep bench at Harvard in the immediate pre-WWII era, international trade could boast three faculty members and two post-docs of great distinction: Gottfried Haberler, Wassily Leontief, Seymour Harris; and Wolfgang Stolper and Heinrich (a.k.a. “Henry”) Heuser. This post has the course outlines with assigned readings for both the trade theory and commercial policy semesters and the final examination questions for commercial policy. 

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Henry Heuser from AEA List of Members 1948

HEUSER, HENRY KARL-MARIA, 1747 F St., N.W., Washington, D.C. (1942) Int. Monetary Fund, econ., res., govt serv.; b. 1911; B.A., 1932, McGill; M.A., 1933, Ecole des Science Economiques et Politiques (Paris); Ph.D., 1938, Univ. of London. Fields 10, 1a, 7. Doc. dis.  Economics of exchange control. Pub. Control of international trade (Rutledge, London, 1938; Blakiston, Philadephia, 1939).

Source:  Alphabetical List of Members (as of June 15, 1948) in the 1948 Directory of the American Economic Association (Jan., 1949). American Economic Review, Vol. 39, No. 1.p. 85.

 

Obituary for Henry Heuser (1911-95) from the Washington Post
April 21, 1995

Henry K. Heuser, 83, an economist who retired in the early 1970s from the Agency for International Development, died of cancer April 18 at the Washington Hospice.

Mr. Heuser was born in Berlin. In the mid-1920s, he immigrated to Canada. He graduated from McGill University and also studied at Ecole des Sciences Economiques in Paris and at the London School of Economics, where he received a doctorate.

In the late 1930s, he taught economics and international trade at the University of Minnesota, Harvard University and the Fletcher School of Law and Diplomacy at Tufts University. He was author of a book, “Control of International Trade,” which was published in 1939.

During World War II, he was an intelligence officer with the Office of Strategic Services, then after the war he worked in Paris on the Marshall Plan for the economic rehabilitation of postwar Europe.

In the late 1940s, he worked for the Federal Reserve and the International Monetary Fund, then joined U.S. foreign assistance programs. He served in Italy, Korea, Tunisia, Libya, Sudan and the Ivory Coast.

On retiring from AID, Mr. Heuser lived in the Tuscany region of Italy, where he restored a 16th-century monastery and grew grapes for Chianti wine. He returned to Washington about 1987.

Survivors include his wife of 48 years, Maria Heuser of Washington; five children, Chilla Heuser-Rousselle of Paris, Alice Heuser of Potomac, Stephen Heuser of London, Tayo Heuser Shore of Narragansett, R.I., and Michael Heuser of Beverly Hills, Calif.; and 13 grandchildren. MARK LEE PATTEN Carpenter

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Course Enrollment
1940-41

[Economics] 43a 1hf. Professor Haberler and Associate Professor Leontief.—International Economic Relations, I. Theory of International Trade.

Total 22: 1 Graduate, 13 Seniors, 3 Juniors, 2 Sophomores, 3 Others.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1940-41, p. 63.

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Course Description
1940-41

Economics 43a 1hf. International Economic Relations, I. Theory of International Trade. Half-course (first half-year). Mon., Wed., and (at the pleasure of the instructors) Fri., at 9. Professor Haberler and Dr. Stolper.

The course will deal with the following subjects: Monetary problems of international trade; the pure theory of international trade.

 

Source: Division of History, Government, and Economics Containing an Announcement for 1940-41. Official Register of Harvard University, Vol. XXXVII, No. 51 (August 15, 1940), p. 56.

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Economics 43a
International Trade and Commercial Relations
[1939-40]

During the first half of the term the monetary problems of International Trade will be discussed in the following order:

The theory and measurement of the balance of payments
Gold Standard
Paper standard and purchasing power parity theory
Exchange Depreciation
The transfer problem and capital movements
The present gold problem
Problems of exchange control

Assignments of the first six weeks:

Haberler, Theory of International Trade, pp. 1-117.
Whale, International Trade, Chs. 17-19, 21-23
Department of Commerce, The Balance of International Indebtedness of the United States for 1938.
Graham and Whittlesey, “The Gold Problem,” Foreign Affairs, January, 1938.
Meade and Hitch, Economic Analysis, Part V, pp. 307-355.

 

The second half of the term will be devoted to the pure theory of international trade and to some of its applications. The classical theory will be discussed and confronted with Ohlin’s approach. The concept of the terms of trade will be taken up and some applications of monopoly theory, especially to the problem of dumping, will be treated.

Assignments for the second half of the term:

Meade and Hitch, Economic Analysis, Part V, pp. 356-408.
Haberler, International Trade, Chs. IX-XII, and Ch. XVIII.
Ohlin, Interregional and International trade, Parts I and II.
Viner, J., Memorandum on Dumping (League of Nations).

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1) Box 2, Folder “Economics, 1940-1941”.

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Final Examination
Economics 43a 1hf.
1940-41

[Not found (yet).]

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Course Enrollment
1939-40

[Economics] 43b 2hf. Associate Professor Harris , Drs. Heuser and Stolper.—International Economic Relations, II. Commercial Policy.

Total 18: 11 Seniors, 6 Juniors, 1 Other.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1939-40, p. 99.

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Course Description
1940-41

[Economics 43b 1hf. International Economic Relations, II. Commercial Policy.] Half-course (second half-year). Mon., Wed., at 12, and a third hour at the pleasure of the instructors. Professor Haberler, Associate Professor Harris, and Dr. Stolper.

Omitted in 1940-41.

 

Source: Division of History, Government, and Economics Containing an Announcement for 1940-41. Official Register of Harvard University, Vol. XXXVII, No. 51 (August 15, 1940), p. 56.

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Economics 43b
1939-40

Week Subject Reading
Feb. 5-10 General case for free trade and criticism
(Dr. Stolper)
Haberler, Chs. 13, 14.
Robertson, “The Future of International Trade,” Economic Journal, March, 1938.
Feb. 12-17 General effect of tariffs, partial analysis. Preferential tariffs.
(Dr. Stolper)
Haberler, Ch. 15
Feb. 19-March 9 Special tariff arguments. Discussion of some of the Hutchins Committee Report. Schüler and Keynes arguments. Foreign Trade Multiplier.
(Dr. Stolper)
Beveridge, Tariffs, the Case Examined, Chs. 5, 9, 10, 13.
Haberler, Chs. 16, 17, and Ch. 12, §4 review Macmillan Report, Addendum I.
Copland, D.B., “A Neglected Phase of Tariff Controversy,” Q.J.E., 1931.
Anderson, Karl, “Protection and the Historical Situation,” Q.J.E., 1938.
Samuelson, Marion Crawford, “The Australian Case for Protection Re-examined,” Q.J.E., 1939.
Taussig, Chs. 13 and 16.
Suggested reading: Taussig, Chs. 14, 15.
March 11-16 Dumping, anti-dumping duties
(Dr. Stolper)
Haberler, Ch. 18, omitting the graphs.
Robinson, J., Economics of Imperfect Competition, Ch. 15, sec. 1-4.
Viner, J., Memorandum on Dumping (League of Nations).
March 18-April 20 Other measures, particularly quotas. Exchange Control and Clearing. Exchange Agreements, etc.
(Dr. Heuser)
Haberler, Chs. 19, 20, 21.
Heuser, Control of International Trade, Ch. VI.
Ellis, Exchange Control, Supplement to Q.J.E., 1939, Ch. I.
Ellsworth, Chs. IX, X.
April 22-27 Tariff History: The glass industry.
(Dr. Davis)
Probably Taussig, Tariff History.
April 29-May 4 Reciprocal Trade Agreements
(Dr. Stolper)
Tasca, Reciprocal Trade Policy, selected chapters.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1) Box 2, Both in Folders “Economics, 1939-1940 (2 of 2)” and “Economics, 1940-1941”.

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HARVARD UNIVERSITY
ECONOMICS 43b2
1939-1940

Part I
(One hour and a half)

Take both questions. Write one hour on one of them and one-half hour on the other.

  1. “Territorial jurisdiction over a particular area can never be of economic advantage as long as there is free trade in commodities.” Do you agree?
  2. Discuss the relative merits of general depreciation, discriminating exchange rates, and export subsidies as means of restoring equilibrium after a period of strict exchange control.

Part II
(One hour and a half)

Answer question 3 and two other questions.

  1. Take (a), (b), (c), or (d) only.
    1. Do you think that Marshall’s argument for free trade are applicable to the United States of to-day?
    2. Outline the reciprocal trade agreements program of the U. S. A. and its probable effects on various sectors of the American economy. Do you think the program leads towards increased bilateralism or towards greater free trade?
    3. “Increased competition from newly industrialised countries compels the older industrial countries to choose between higher tariffs or lower standards of living.”
    4. It has been claimed that the protective effect of an import quota and a tariff combined are cumulative. Discuss with regard to the effects in the importing country as well as in the exporting countries.
  2. If a country’s exports are subject to foreign tariffs it cannot improve its position by levying tariffs on its imports. Give your considered opinion of this assertion.
  3. Under conditions conducive to a flight of capital [,] restrictions on capital exports may fail completely to bring about a permanent improvement in the balance of payments. Discuss.
  4. The total volume of trade between two countries under exchange clearing is just as likely to increase as to decrease. Discuss with respect to clearings between (a) a free country and a control country, (b) two control countries.
  5. “The operation of the foreign trade multiplier necessitates reconsideration of the proposition that employment and national income can never be increased by the introduction of tariffs.” Discuss.

Final. 1940.

 

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

Image:  Haberler, Leontief and Harris from Harvard Album 1942.