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Chicago Courses Syllabus

Chicago. Money and Banking, Economics 330 Mints, 1932

The following reading list for Lloyd Wynn Mints’ course “Money and Banking” (Summer Quarter of 1932) was hand-marked by Albert G. Hart indicating either required or recommended readings. Everything in italics and within square brackets, [], are Hart’s additions. I have substituted asterisks for Hart’s use of checkmarks. My additions are placed inside parentheses within the square brackets [()].

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E: THE FINANCIAL SYSTEM AND FINANCIAL ADMINISTRATION

Courses 330, 331 are introductory to the problem and research courses.

330, 331. Money and Banking.–This is a double course having two objectives. (1) The student is expected to make a wide acquaintance with the literature of the field and to become familiar with those theories and principles in the fields of money and banking which are essential to an intelligent understanding of the problems arising in these fields. The relation of a medium of exchange to the processes by which changes in the price level are brought about is critically examined. Consideration is given to the principles which should govern the operations of individual commercial banks and of the banking system, and to the relation of these operations to changes in the price level and business conditions. (2) Time is devoted to a discussion of the feasibility of control of economic activities through the pecuniary system. The outstanding issues in international finance are surveyed. Prerequisite: accounting and statistics and Economics 230 or its equivalent. Summer, Autumn, Winter, Mints.

Source: Announcements, The University of Chicago, Vol. XXXII, no. 12 February 1932. Arts, Literature and Science for the Sessions of 1932-33, p. 358.

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Economics 330
Money and Banking

  1. The functions of money and banking
    1. The origins of money
      1. Monroe, Monetary Theory before Adam Smith (See the table of contents)
      2. Moulton, Readings in Money and Banking, pages 45-74
      3. Phillips, Readings in Money and Banking, pages 7-25
    2. The functions of money
      1. Monroe (See table of contents)
      2. Mill, Principles of Political Economy, Book III, ch. 7
      3. Foster and Catchings, Money, pages 1-52
      4. Holdsworth, Money and Banking, ch. 1
      5. Johnson, Money and Currency, ch. 1 and 2
      6. Kinley, Money, ch. 1
      7. Marshall, Money, Credit, and Commerce, pages 12-20
      8. Moulton, Financial Organization of Society, ch. 1-3
      9. Moulton, Money and Banking, Part I, pages 5-13, 31-44
      10. Scott, Money and Banking, pages 1-49
    3. The functions of banking
      1. Gilbart, The History, Principles and Practice of Banking, Michie edition, Vol. I, pages 210-223
      2. Mill, Book III, ch. 11
      3. McLeod, Theory and Practice of Banking, Vol. I, pages 313-326
      4. [*]Agger, Organized Banking, pages 3-36
      5. [*]Conant, Principles of Money and Banking, Vol. II. Pages 206-219; 239-255
      6. [*]Dunbar, Theory and History of Banking, pages 1-19
      7. [*]Moulton, In the Journal of Political Economy, Vol. 26, pages 484-508; 638-663; and 849-881
      8. Watkins, (and Moulton) in the Journal of Political Economy, Vol. 27, pages 578-605
      9. Steiner, Some Aspects of Banking Theory, pages 34-67
      10. Veblen, Theory of Business enterprise, pages 91-132
  2. Statement of theories concerning the relation of money and banking to the price level
    1. Monroe, chs. 7, 12, 19, 22, 29, 30, 34
    2. [1*]Ricardo, Principles of Political Economy (Gonner edition) ch. 27
    3. [2*]Mill, Book III, chs. 7-13
    4. Laughlin, Principles of Money, chs. 8 and 9
    5. [3*]Fisher, Purchasing Power of Money, chs. 2-5 [,8]
    6. Anderson, The Value of Money, ch. 20 [sample]
    7. [4?*]Cassel, Theory of Social Economy, ch. 11
    8. [5*]Hawtrey, Currency and Credit, pages 1-110 [(3rd ed. )]
    9. Keynes, Monetary Reform, pages 81-95
    10. Cannan, Money, 4th or 5th edition, parts I and II.
    11. Robertson, Money, revised edition, chs. 2, 3, and 4.
    12. [*]Marshall, Money, Credit, and Commerce, pp. 38-50
    13. Phillips, Readings in Money and Banking, pp. 178-212
    14. [**]Pigou, The Value of Money, in the Quarterly Journal of Economics for 1917-18, pp. 38-65
    15. Foster and Catchings, Money, ch. 10
    16. Kemmerer, Relation of Money and Credit to Prices, Book I, chs. 1 and 2; Book II, chs. 1 and 8
    17. Scott, Money and Banking, ch. 4
    18. [**]Keynes, A Treatise on Money, Vol. I, chs. 9-12 and 14[-17]
  3. Appraisal of these theories by means of
    1. Logical analyses
      [Vol I of Keynes, pp. 53-120, 221-39]

      1. Anderson, The Value of Money, chs. 2-19
      2. Burns, The Quantity Theory and Price Stabilization, in The American Economic Review for December, 1929; Part III, pp. 573-579.
      3. [*]Davenport, Velocities, Turnovers and Prices, in The American Economic Review for March, 1930; pp. 9-19
        [cf. Marget in J.P.E.]
      4. Laughlin, The Principles of Money, ch. 8
      5. Lewinski, Money, Credit and Prices, chs. 1 and 3
    2. Examination of the process of changes in the price level
      1. In countries whose governmental budgets were unbalanced
        1. Early European experiences
          1. Moulton, Money and Banking, pp. 89-95; 144-148
          2. Fisher, pp. 252-256
          3. Seligman, Currency Inflation and Public Debts
          4. Johnson, Money and Currency, ch. 14
          5. Walker Money ch. 16
          6. [*]Cannan, The Paper Pound of 1797-1821; contains the text of the Bullion Report
          7. Sumner, History of American Currency, ch. 2 and the appendix, pp. 311-324; contains the text of the Bullion Report
          8. [*]Hawtrey, Currency and Credit, 1st. and 2nd. Editions, chs. 15 and 16; 3rd edition, chs. 17 and 18
          9. Andreades, A History of the Bank of England, pp. 161-242
          10. [?]Angell, The Theory of International Prices, ch. 3
            [Harris, Assignat]
        2. American experience: pre-war
          [D C Barrett, Greenbacks]

          1. White, Money and Banking, Book II, pp. 79-192
          2. Moulton, Money and Banking, pp. 148-199; 210-248
          3. Hepburn, History of Currency in the United States, chs. 2, 11 and 13; but see also the table of contents
          4. Sumner, especially pp. 1-59 and 189-227
          5. Johnson, Money and Currency, pp. 272-290
          6. [Best]Mitchell, History of Greenbacks, especially Part I, chs. 1 and 2; and Part II, ch. 10
          7. Noyes, Forty Years of American Finance, chs. 1-3
          8. Fisher, pp. 256-265
          9. Walker, Ch. 15
        3. American experience: World War
          1. Garrett, Government Control over Prices (published by the War Trade Board), pp. 23-59.
          2. Comptroller’s Reports. See, for example, that for 1926, especially pp. 268-282.
          3. Annual Reports of the Secretary of the Treasury; that for 1920, pp. 104-6; 413-16.
          4. Federal Reserve Bulletins.
          5. The Statistical Bulletin of the Standard Statistics Company.
          6. Annual Report of the Federal Reserve Board for 1926; especially pp. 40-2; 134; 142-3; and 220.
          7. The Review of Economic Statistics for July, 1927; pp. 121-141.
          8. Hardy and Cox, Forecasting Business Conditions, chs. 19-22 and Appendix A.
        4. European experience: World War
          Great Britain

          1. [*]Young, John Parke, European Currency and Finance (U. S. Senate Commission of Gold and Silver Inquiry). Vol. I, pp. 273-306; 442-69.
            [Something (from items 2-9)]
          2. Withers, Bankers and Credit, chs. 2, 4, and 5.
          3. Kirkaldy, British Finance, 1914-1921.
          4. Shaw, Currency, Credit and the Exchanges, chs. 1 and 3.
          5. Hawtrey, Monetary Reconstruction.
          6. Keynes, A Treatise on Money, Vol. II, pp. 170-89.
          7. Jack, The Restoration of European Currencies, ch. 2.
          8. Robertson, revised edition, ch. 6.
          9. Harris, Monetary Problems of the British Empire, pp. 65-82, 157-168.

          France

          1. [*]Rogers, The Process of Inflation in France, chs. 6, 11, and 12.
          2. Dulles, The French Franc, 1914-1928, chs. 1, 7, 8 and 9.
          3. Young, Vol. I, pp. 307-46; 470-93.
          4. Moulton and Lewis, The French Debt Problem.
          5. Jack, ch. 7.

          Germany

          1. [*]Graham, Exchange, Prices, and Production in Hyper-Inflation: Germany, 1920-1923, pp. 3-173.
          2. Young, Vol. I, pp. 387-430; 522-42.
          3. Rogers, ch. 7
          4. Jack, ch. 6.
          5. Moulton and McGuire, Germany’s Capacity to Pay.
          6. Keynes, Economic Consequences of the Peace.
          7. Schacht, Stabilization of the Mark.

          Austria

          1. [*]de Bordes, The Austrian Crown, pp. 144-229.
          2. Young, Vol. II, pp. 9-25, 291-297.
          3. Jack, ch. 10

          Some general references on the theory of international prices.

          1. Mill, Book III, chs. 20-22.
          2. Young, Vol. I, pp. 29-49.
          3. Taussig, Principles of Economics, first edition, Vol. I, pp. 458-462.
          4. Viner, Canada’s Balance of International Indebtedness, pp. 191-255.
          5. Cassel, Money and Foreign Exchange after 1914, pp. 137-169, 187-202.
          6. Keynes, Monetary Reform, pp. 95-116.
          7. Taussig, International Trade, pp. 34-42, 337-408; but especially pp. 337-358.
          8. Angell, The Theory of Internaitonal Prices, chs. 7, 14-17.
      2. During a peace-time business cycle.
        1. [*]Mitchell, Business Cycles: The Problem and its Setting, ch. 2.
        2. Mitchell, Business Cycles (1913), pp. 6-18.
        3. Pigou, Industrial Fluctuations, Part I, chs. 8, 12-17; but particularly chs. 8 and 12.
        4. Cassel, Theory of Social Economy, chs. 17 and 19, and pp. 458-467.
        5. Keynes, A Treatise on Money, Vol. I, chs. 18 and 19.
        6. Fisher, ch. 4.
        7. Foster and Catchings, Money, particularly ch. 20, but also ch. 18.
        8. Foster and Catchings, Profits, last chapter.
        9. Anderson, ch. 10.
        10. Laughlin, pp. 92-112.
        11. Adams, Economics of Business Cycles, pp. 198-233.
        12. Hansen, Business Cycle Theory, chs. 1 and 6.
        13. Wagemann, Economic Rhythm, chs. 18 and 19.
        14. Copeland, Two Hypotheses Concerning the Equation of Exchange, in the Journal of the American Statistical Association, Proceedings, 1929, pp. 146-48.
        15. Copeland, Recent Changes in Our Wholesale Price Level, in the Journal of the American Statistical Association, Proceedings, 1930, pp. 164-169.
        16. Copeland, Special Purpose Indexes for the United States, 1919-1927, in the Journal of the American Statistical Association for June, 1929, pp. 109-122.
        17. Some convenient sources of data:
          1. Hardy and Cox, Appendix A.
          2. Schluter, The Pre-War Business Cycle
          3. Standard Statistics Bulletin
          4. Federal Reserve Bulletin
          5. Annual Reports of the Federal Reserve Board
          6. Survey of Current Business
      3. During a longer period covering several cycles.
        1. Cassel, Theory of Social Economy, pp. 467-473.
        2. Fisher, chs. 10-12 and respective appendices.
        3. Laughlin, Money and Prices, chs. 2-4, and 6.
        4. Anderson, ch. 19.
        5. Davis, The Quantity Theory and Recent Statistical Studies, in the Journal of Political Economy for March, 1921, pp. 213-221.
        6. Working, Prices and the Quantity of the Circulating Medium, 1890-1921, in the Quarterly Journal of Economics for 1922-23, pp. 228-256.
        7. Working, Bank Deposits as a Forecaster of the General Price Level, in the Review of Economic Statistics for 1926, pp. 120-133.
        8. Snyder, New Measures in the Equation of Exchange, in the American Economic Review for December, 1924, pp. 699-713.
        9. Edie, Gold Production and Prices before and after the World War.
        10. Burns, The Quantity Theory and Price Stabilization, in the American Economic Review for December, 1929, pp. 561-573.
        11. Kitchin; Berridge; Coyle; a series of articles on the production and consumption of gold, in the Review of Economic Statistics for 1920-21, 1924-26, and 1929.

[Business cycle

Hawtry Trade & Credit. “Trade Cycle”
J. M. Clark JPE Mar 1917 “Business Acceleration & law of demand”, Overhead Costs ch 19, esp. pp. 386-96]

Source: Columbia University Libraries, Manuscript Collections. Albert Gailord Hart Papers. Box 60. Folder “Mints, Money 1932”.

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Chicago Courses Syllabus

Chicago. Banking Theory and Monetary Policy. Mints, 1942

“Lloyd Mints, though less brilliant and exciting than Viner, served the same function for us in monetary theory that Viner did in price theory. His Economics 330 and 331 introduced us to the organic core of monetary theory. Like Viner, Mints concentrated on the fundamentals, not on institutional arrangements. He was thorough and meticulous in his presentations and, again, like Viner, assigned us readings ranging over a wide variety of views.”
Rose Friedman in Milton and Rose D. Friedman, Two Lucky People: Memoirs (1998), p. 38.

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E: MONEY, BANKING, AND BUSINESS CYCLES

  1. Money.—An examination of various theories of the factors which determine the value of money in the short and in the long run. Prerequisite: Economics 230 [Mints’ course, Introduction to Money and Banking] or equivalent. Summer, 1:30; Autumn, 2:30; Mints.
  1. Banking Theory and Monetary Policy.—Theories upon which the Federal Reserve Act is based; the validity of these theories; and the possible objectives and techniques of central-bank and monetary management. Prerequisite: Same as for Economics 330. Summer, Winter, 2:30, Mints.

Source: Announcements, The University of Chicago, Vol. XLI, No. 10 (April 25, 1941). The College and the Divisions for the Sessions of 1941-42, p. 310.

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NOTE: The following reading list for Lloyd Wynn Mints’ course “Banking and Monetary Policy” (Winter Quarter of 1942) was hand-marked by Norman Kaplan with sufficient detail to warrant including his notes with the original reading list. Everything in italics and within square brackets, [], are Kaplan’s additions. A few non-italicized corrections/comments of mine are inside parentheses within the square brackets [()].

The identical printed reading list can be found at the Hoover Institution Archives, Milton Friedman’s papers (Box 5, Folder 12: Student years), together with other course reading lists. Since Milton Friedman himself never took this course according to his own course records and his copy of the reading list for Economics 331 definitely looks to be of a later vintage (at least less worn) from that of his reading list for Economics 330, we cannot conclude with any certainty that the reading list remained completely unchanged for the entire decade 1932-42.

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ECONOMICS 331
BANKING AND MONETARY POLICY

[Lloyd Mints, University of Chicago, Winter Quarter 1942]

  1. Theoretical and historical foundations of the Federal Reserve Act
    1. Theoretical
      1. Smith, The Wealth of Nations, part of Book II, chapter 2; in Everyman’s edition, pages 266-286 [in Vol I; for sake of completeness, Vol II]; in Cannan’s edition, pages 285-304
        [Read]
      2. Ricardo, Reply to Mr. Bosanquet’s Practical Observations on the Report of the Bullion Committee, chapter 5; in Gonner’s edition of Ricardo’s essays, pages 113-119
      3. Mill, Principles of Political Economy, Book III, chapter 24
      4. Scott, Money and Banking; in the second edition, pages 147-176
      5. Willis, The Federal Reserve, pages 46-84, 176-191
      6. Warburg, The Discount System in Europe (The National Monetary Commission)
      7. Dunbar, The Theory and History of Banking, chapters 3, 5, and 6
      8. Agger, Organized Banking, pages 31-33, 37-63, 140-174
        [Read pp. 31-33]
      9. Conant, The Principles of Money and Banking, Vol. II, pages 17-110, 143-163
      10. Moulton, Commercial Banking and Capital Formation, in the Journal of Political Economy, Vol. 26 (1918), pages 705-731
      11. Cannan, The Meaning of Bank Deposits, in Economica for January, 1921, pages 28-36
      12. Phillips, Bank Credit, chapter 3
        [Read]
      13. Angell and Ficek, The Expansion of Bank Credit, in the Journal of Political Economy, Vol. 41 (1933), pages 1-32, 152-193
        [Read Viner, Trade, pp. 218-288]
    2. Historical: The development of the Bank of England and the London money market
      1. Dunbar, The Theory and History of Banking, the chapter on the Bank of England
        [Read]
      2. Feavearyear, The Pound Sterling, A History of English Money
      3. Andreades, A History of the Bank of England
      4. Bagehot, Lombard Street, chapters 3, 7, 9-12
      5. Whitaker, Foreign Exchange, the chapter on “Foreign Money Market Factors”; in the first edition, chapter 8
        [Read]
      6. Leaf, Banking, chapters 3, 7 and 8
      7. Willis and Beckhart, Foreign Banking Systems, chapter 17
      8. Report of the Committee on Finance and Industry (The Macmillan Report), chapter 4
      9. The Report of the Bullion Committee; to be found in “The Paper Pound of 1797-1821,” edited by Cannan
        [Read]
      10. Gregory, the introduction to the reprint of the “History of Prices,” by Tooke and Newmarch; especially pages 69-91
    3. Historical: the development of banking in the United States before 1913
      1. Dewey, State Banking before the Civil War; and Chaddock, the Safety Fund Banking System in New York, 1829-1866 (The National Monetary Commission)
      2. Hepburn, History of Currency in the United States
      3. Noyes, The War Period of American Finance
      4. Sprague, Crises Under the National Banking System, chapter 1
        [*Read]
      5. Davis, Origin of the National Banking System
      6. The appropriate chapters in any good economic history of the United States
        [Read]
      7. Miller, Banking Theories in the United States before 1860
  1. The organization and operation of the Federal Reserve system
      1. Hardy, Credit Policies of the Federal Reserve System
        [Read]
      2. Burgess, The Reserve Banks and the Money Market
        [Read]
      3. Currie, The Suppply and Control of Money in the United States
        [Read a little if you have time]
      4. Willis and Steiner, Federal Reserve Banking Practice
        [Omit]
      5. Annual Report of the Federal Reserve Board for 1923, pages 3-39
        [*Read. Written by Walter W. Stewart, Mints thinks. Represents position of old Board which was homogeneous & consistent until 1934.]
      6. Woodworth, Supplement to Kilborne’s “Principles of Money and Banking” (1934; on recent developments)
      7. The Federal Reserve Bulletin for September, 1935 (the banking act of 1935)
      8. Huffman, Expansion Possibilities of Our Banking System, in the Journal of Political Economy, Vol. 34 (1926), pages 717-741.
        [Read if you want to]
        [added: Willis, Federal Reserve (not Res. System, a later book cf. A.5 for pages) 1st 2 or 3 chapters on what it was they were interested in in getting banking reform]
  1. The Problem of Monetary Policy
      1. Keynes, The Means to Prosperity
        [Omit]
      2. ________, Monetary Reform, pages 167-222[Read, not so important]
      3. ________, A Treatise on Money, Vol. I, pages 185-220, Vol. II, pages 211-408
        [Omit]
      4. Hawtrey, Trade Depression and the Way Out; in the first edition, pages 68-84
        [Read this or ch. 8 (of The Art of Central Banking by Hawtrey)]
      5. ________, The Art of Central Banking, chapters 5,7, and 8
        [(Read) ch. 8 or pp. 68-84 (of Trade Depression and the Way Out by Hawtrey)]
      6. Whittlesey, Banking and the New Deal (Public Policy Pamphlet No. 16)
        [Read if you want to]
      7. Fisher, 100% Money
        [Read if you don’t understand 100% money]
      8. Gayer, Monetary Policy and Economic Stabilization
        [Read if you want to]
      9. Report of the Committee on Finance and Industry (the Macmillan Report)
        [Read if you want to]
      10. Simons, Currency Systems and Commercial Policy; in the Report of the Commission of Inquiry into National Policy in International Economic Relations, pages 344-349
        [Read]
      11. ________, Rules versus Authorities in Monetary Policy, in the Journal of Political Economy for February, 1936
        [Read Esp.]
      12. ________, A Positive Program for Laissez Faire (Public Policy Pamphlet No. 15)
        [Read]
      13. Gregory, The Gold Standard and its Future
        [Read if you want to]
      14. Hansen, Economic Stabilization in an Unbalanced World, pages 277-323
        [Read]
      15. Robertson, Banking Policy and the Price Level
        [ Written as a reaction against stable price level protagonists.]
      16. ________, Theories of Banking Policy, in “Economic Essays and Addresses,” by Pigou and Robertson, pages 95-115
        [Also in Robertson’s Essays in Monetary Theory]
      17. Harrod, The Expansion of Credit in an Advancing Community, in Economica, New Series, Vol. I (1934), pages 287-299
        [Omit]
      18. Durbin, The Problem of Credit Policy, pages 80-87, 109-241
        [Omit]
      19. Mahr, Monetary Stability (Public Policy Pamphlet No. 9)
        [Omit]
      20. Cassel, A Theory of Social Economy; in the McCabe translation, pages 414-419, 473-481
        [You might read this if you want to]

[Read these:

Henry Villard, “Federal Reserve System’s Monetary Policy in 1931 & 1932.” JPE (To be read in connection with II)

L.V. Chandler, “Monopolistic Elements in Commercial Banking” JPE
G. L. Bach, “Monetary Policy & the Price Level”, typewritten condensation of doctoral dissertation

Optional on gold vs. Paper

C. R. Whittlesy, International Monetary Issues, chs. 4-7 (for paper)
F. A. Hayek, Monetary Nat’lism & Internat’l Stability (for gold)
Gregory, pro-gold standard
Heilperin (a book Mints can’t remember published in last 3 years)

You should read some in:

Hansen, Fiscal Policy & Business Cycles, ch. 15 esp.]

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Source: Kaplan, Norman Maurice. Papers, [Box 3, Folder 6], Special Collections Research Center, University of Chicago Library.

Image Source: From a Japanese webpage that certainly appears to be about the Chicago School(s) of Economics. Here is the link to the picture of Mints.

 

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Chicago Columbia Economists Transcript

Milton Friedman’s Coursework in Economics, Statistics and Mathematics

Before Milton Friedman could be a teacher of economics, he was of course the student of many teachers. This list of his relevant coursework and teachers is complete. I merely add here that his transcript also shows three semesters of college French and four semesters of college German and that he entered Rutgers with advanced credits in French.

Rutgers University
University of Chicago
Columbia University
Dept. of Agriculture Graduate School

Rutgers University (1928-32)

Principles of Economics E. E. Agger 1929-30
Money and Banking E. E. Agger 1930-31
Statistical Methods Homer Jones 1930-31
Business Cycles Arthur F. Burns 1931-32
Economic Research Ivan V. Emelianoff 1931-32
Principles of Insurance Homer Jones 1931-32
College Algebra 1928-29, 1st term
Analytical Geometry 1928-29, 2nd term
Calculus 1929-30
Advanced Calculus 1930-31
Theory of Numbers 1929-30, 2nd term
Theory of Equations 1930-31, 1st term
Differential Equations 1930-31, 2nd term
Analysis 1931-32
Elliptic Integrals 1931-32, 2nd term

 

University of Chicago (1932-33, 1934-35)

Econ 301 Prices and Distribution Theory Jacob Viner Autumn Quarter 1932
Econ 302 History of Economic Thought Frank H. Knight Winter Quarter 1933
Econ 303 Modern Tendencies in Economics Jacob Viner Spring Quarter 1933
Econ 311 Correlation and Curve Fitting Henry Schultz Winter Quarter 1933
Econ 312 Statistical Graphics Henry Schultz Spring Quarter 1933
Econ 330 Graduate Study of Money and Banking Lloyd W. Mints Autumn Quarter 1932
Econ 370 International Trade and Finance Jacob Viner Winter Quarter 1933
Econ 220 Economic History of the United States, not taken for credit Chester Wright Winter Quarter 1935
Econ 220 Economic History of Europe, not taken for credit John U. Nef Autumn Quarter 1934
Labor (visited) Paul H. Douglas  1934-35
Theory of Demand (visited) Henry Schultz  1934-35
Math 306 Introduction to Higher Algebra  E. Dickson Autumn Quarter 1932
Math 341 Calculus of Variations  G. Bliss Autumn Quarter 1932
Math 324 Theory of Algebraic Numbers  A. Albert Winter Quarter 1933
Math 310 Functions of a Complex Variable (not taken for credit) L. M. Graves

 Master’s thesis: An empirical study of the relationship between railroad stock prices and railroad earnings for the period 1921-31.

 

Columbia University (1933-34)

Stat 111-12 Statistical Inference Harold Hotelling Winter/Spring semesters
Econ 117-18 Mathematical Economics Harold Hotelling Winter/Spring semesters
Econ 119 Economic History V. G. Simkhovitch Winter semester
Econ 128 Currency and Credit James W. Angell Spring semester
Econ 211-12 Business Cycles Wesley Claire Mitchell Winter/Spring semesters
Econ 315-16 Economic Theory Seminar John M. Clark, James W. Angell, and Wesley C. Mitchell Winter/Spring semesters
Social Economics (visited) J. M. Clark
Labor (visited) Leo Wolman
Theory (visited) R. W. Souter

 

Department of Agriculture Graduate School (1936-37)

Statistics 17-18 Adjustment of Observations

Source: Assembled from transcripts and course lists kept by Milton Friedman. Hoover Institution Archives, Milton Friedman Papers, Box 5, Folders 11, 13 (Student years).

Image Source: Columbia University, Columbia 250 Celebrates Columbians Ahead of Their Time.