13 and 14. Labor and Capital.—Unsettled problems of distribution. The more abstruse questions of distribution will be considered. No student, therefore, can undertake the work of this course with profit who has not already become familiar with the fundamental principles. The course is open only to those who have passed satisfactorily course 2, or who can clearly show that they have had an equivalent training. The subjects to be considered will be as follows: The wages-fund and other theories of wages, the interest problem, managers' profits, and allied topics. The discussion will be based upon selected passages of important writers. The study of wages, for example, will include reading from Adam Smith, Ricardo, J. Š. Mill, Cairnes, F A. Walker, Marshall, George, Bohm-Bawerk, J. B. Clark, Carver, Fetter, and others. Students will also be expected to discuss recent important contributions to these subjects in current books or journals. 2Mjs. Autumn and Winter Quarters, 12:00, PROFESSOR LAUGHLIN AND PROFESSOR JOHNSON. 15. Socialism.-It is the aim of this course to make the student acquainted with socialism in its threefold aspects of Ideal, Theory, and Propaganda, to give him an intelligent understanding of the causes which underlie the Socialist movement, and to bring him into contact with the work of leading socialist critics. Marxian or Scientific Socialism, in its orthodox and revised phases, is made the center of study and is given the greatest share of attention, but Utopian, Christian, Academic, State, and Municipal Socialism are considered. In connection with the study of Propaganda, the organizations, methods, and constructive proposals of the Socialists both in America and abroad are carefully reviewed. This course is intended primarily for graduate and advanced students. [Not given in 1909–10.]

16. The Theory of Population.-This course will survey the theories which have been held and the policies which have been followed in regard to population, especially since the time of Malthus, and will point out the way in which variety of opinion concerning the increase of numbers has been related to variety of economic and social circumstance. In the light of the evidence thus afforded some present-day problems of population will be considered. It is desirable that students who elect the course should have a reading knowledge of French and German. Mj. Autumn Quarter, 8:30, MR. FIELD.

17. Methods of Social Investigation.-A course designed primarily to acquaint students with the purpose, methods, and results of the most important work that has been done in the field of social research. Such investigations as LePlay's Ouvriers européens, Booth's Life and Labor of the People of London, Rowntree's Poverty, women in the printing trades, and the recent Dundee and West Ham inquiries will be studied, as well as some selected reports of Royal Commissions and of the English and American Labor Departments. The application of statistical methods to social problems, the collection and tabulation of data, the use and misuse of averages, index-numbers, and weighting will be treated briefly; and the use and limitations of experiment, the interview, the document, and personal observation will be considered.

Students may supplement this course by practical work in investigation in connection with one of the Inquiries being carried on by the Research Department of the School of Civics and Philanthropy. An additional major's credit will be given to students who give not less than 12 hours a week to this part of the course. Mj. or 2 Mj. Winter Quarter, 9:30, DR. ABBOTT.

20. Training Course in Statistics. Students are trained in the practical use of statistical methods of investigation, in the collection, tabulation, and interpretation of statistics of different orders, in the technique of work done by government statistical bureaus in the United States and other countries. A survey of the sources of statistical information, public and private, is undertaken with a view to determining the degree of accuracy and legitimacy of inferences drawn. Exercise is given the construction of averages, of index

numbers of wages and prices, and of wage tables; in graphic presentation of data, and in the use of mechanical instruments of computation, tabulation, and chart construction. The work of the course is adapted to the needs of students preparing to enter into the service of government, or of private statistical bureaus. The course deals also with the statistical work of railway, industrial, and commercial corporations. Course 20 is introductory and should be taken by students intending to elect more advanced courses in Statistics. While the work is mainly technological, it is intended to demonstrate the scientific value and scope of the statistical method as employed in the social sciences. Mj. Autumn Quarter, 8:30, ASSISTANT PROFESSOR CUM

MINGS.

21. Vital Statistics.-A study of the movement of population, especially as it is occasioned by births, marriages, and deaths, and of scientific statistical methods of collecting, analyzing, presenting, and interpreting the appropriate data. The general principles developed will be applied in investigation of special topics and in criticism of statistical materials and results. Mj. Spring Quarter, 2:00, MR. FIELD.

22. Statistics of Wages in the Nineteenth Century.-In this course effort is made to determine what has been the actual movement of wages during the nineteenth century. An examination is undertaken of the more important statistical investigations of wage-movements which have been made from time to time by economists, government bureaus, or other agencies, in specific industries; the object being to determine the extent to which the wage-earner has in general participated in the benefits of industrial progress and of the increased economic efficiency of labor and capital. The course is intended to be informational and descriptive in character, as well as to give training in the collection and tabulation of statistical data. ASSISTANT PROFESSOR CUMMINGS. [Not given in 1909–10].

23. Statistics of Population, Demography. Statistical methods are illustrated by studies in population data, comprising vital statistics and construction of life tables; data of criminality, pauperism, and dependency; of growth, migration, racial character, and economic value of populations. The development of official statistics of population, methods of census taking and estimating, and the demographic work of government bureaus are taken up, and students are given training in the handling of population data as a basis of sociological and economic speculation. Examination is made of the statistical evidence of the validity of the various population theories upon which economic and sociological reasoning is largely based-such as the Malthusian doctrine, and later theories which relate population movements to material and social environment. ASSISTANT PROFESSOR CUMMINGS. [Not given in 1909-10.]

24. Statistics of Wealth.-The course deals with the statistics of trade and commerce, and with such sources of information as consular and board of trade reports. It is intended especially for students preparing to enter the consular service, or to engage in any occupation where a knowledge of trade conditions and industry in foreign and domestic markets is essential. Course 24 deals with the statistics of wealth, undertaking a comparative study of wealth statistics gathered in different countries, and methods of determining the accumulation, concentration, and distribution of wealth. ASSISTANT PROFESSOR CUMMINGS. [Not given in 1909-10.]

Courses 23 and 24 are given in rotation, and are intended for advanced students who have had an elementary training in statistical work.

GROUP IV. MONEY AND FINANCE

30. Money and Practical Economics.—An examination is first made of the principles of money, whether metallic or paper. Preliminary training for investigation is combined, in this course, with the acquisition of desirable

statistical information on practical questions of the day. The student is instructed in the bibliography of the subject, taught how to collect his data, and expected to weigh carefully the evidence on both sides of a mooted question. The work of writing theses is so adjusted that it corresponds to the work of other courses counting for the same number of hours. This course will be open to undergraduates. Mj. Autumn Quarter, 12:00, PROFESSOR LAUGHLIN.

31. Advanced Course in Money.-After having been drilled in the general principles of money (course 30), the student is given an opportunity to examine the more difficult problems of money and credit. Mj. PROFESSOR LAUGHLIN. [Not given in 1909-10.]

32. The Theory and History of Banking.-The course will begin with a description of the functions of a bank, followed by the history of Banking in the United States, including the First and Second Banks of the United States, the national banking system, state banks and trust companies. The salient points in the constitution and policy of the Bank of England, the Reichsbank, the Bank of France, and other great European banks will be taken up. A careful study will also be made of the banking systems of Scotland and Canada. The following points will be considered: note issue, deposit currency, loans, reserves, clearing-houses, the relation of banks to the government, the relation of banks to commercial crises, branch banking, and international exchange. Finally, a critical examination will be made of proposed modifications of the national banking system of the United States. Mj. Spring Quarter, 12:00, PROFESSOR LAUGHLIN.

36. Finance.-A comprehensive survey of the whole field of public finance. The treatment is both theoretical and practical, and the method of presentation historical as well as systematic. The main emphasis is placed upon the study of taxation, although public expenditures, public debts, and financial administration are carefully studied. Mj. Spring Quarter, 11:00, ASSISTANT PROFESSOR BOGART.

37. Financial History of the United States.-In this course the Financial History of the United States is followed from the organization of our national system in 1789 to the present time. The following topics may be mentioned as indicating the scope of the course: the funding and management of the Revolutionary and other war debts; the First and Second United States Banks; the Independent Treasury; the present national banking system; Civil War financiering with especial reference to bond and note issues, and resort to legal-tender currency; the demonetization of silver and issue of silver certificates; inflation of the currency and the gold reserve; the currency act of 1900. Mj. Spring Quarter, 9:30, ASSISTANT PROFESSOR BOGART.

38. Tariffs, Reciprocity, and Shipping.-The course of legislation and the development of our commercial policy are followed, and an effort made to indicate the influence of our protective tariffs upon the development of our domestic industries, upon the growth and character of our international trade, and upon the general business interests of the country. Foreign trade policies and schemes for imperial tariff federation are taken up, and especial attention given to the negotiation of reciprocity treaties, as well as to recent attempts, which have been made through federal legislation granting subsidies to build up American shipping. Mj. Spring Quarter, 8:30, MR. KEN

NEDY.

GROUP V. LABOR

41. The Labor Movement.-An historical and comparative study of labor conditions in the United States and in foreign countries, and of the social and economic consequences to the wage earner of industrial development during the nineteenth century. Especial attention is devoted to the course of labor legislation which has in different countries accompanied industrial reorganization; to the extent to which labor organization has taken place; to the

actual methods provided for arbitration, conciliation, and adjustment of wage disputes; to systems of workingmen's insurance and provision for the unemployed; industrial education, and other conditions affecting the economic status and welfare of labor. The course is intended to be descriptive and informational, rather than theoretical in character. [Not given in 1909-10.]

43. Economics of Workingmen.-Continuing the study of distribution (course 14), examination is here undertaken of social movements for improving the condition of labor, to determine how far they are consistent with economic teaching, and likely in fact to facilitate or to retard economic betterment of workingmen. Topics considered in this connection are the programme of trade-unionism; schemes of workingmen's insurance; co-operation; profitsharing; industrial education; social settlement work; establishment of labor colonies; the establishment of trade-union and of corporation benefit funds for workingmen. Efforts to increase earnings through more or less radical moditication of the wages system itself, resort to legislation and to labor organization are discussed, with especial reference to their effect upon labor efficiency, earning capacity, and steadiness of employment. The course is

mainly theoretical in its effort to test the efficiency of these schemes of social betterment, by determining the extent to which they are consistent with the fundamental teachings of economic science. Mj. Autumn Quarter, 9:30, ASSISTANT PROFESSOR CUMMINGS.

44. The Constructive Programme of Trade Unionism.-This course aims chiefly to make the student acquainted with the essential character and activities of American Unionism and to explain scientifically the general and concrete Union phenomena. After a brief descriptive account of Unionism in general and some discussion of the leading interpretations of the labor movement, a careful study is made of the ultimate aims, essential principles, and characteristics methods of Unionism as they have been developed in this country and are exemplified in Trade Agreements, Union working Rules, Conflicts with Employers, Union Financial Systems, and structural adaptions. In this work the student makes use largely of original sources and is brought into frequent contact with the men, organizations, and activities which are being studied. Mj. Winter Quarter, 8:30, ASSISTANT PROFESSOR HOXIE.

45. The Broader Aspects of Trade Unionism.-This course deals mainly with the terms of the indictment currently brought against Unionism and with the developmental tendencies and probable outcome of the organized labor movement in this country. The study involves a consideration of the relations of Unionism to efficiency, productivity, standards of living, law and order, constructive legislation, politics, etc., and also considerable historical and comparative study of the development of Union structure and policies in relation to general institutional evolution. [Not given in 1909-10.]

46, 47. Research Course in Labor Problems.-This course aims to take full advantage of the exceptional opportunities offered in Chicago for the intimate study of existing labor conditions, industrial and pecuniary psychology, and the practical and scientific problems raised by the organized labor movement. Each student will select for investigation one of a group of related topics. The investigation will be carried on by him under the personal supervision and guidance of the instructor. At stated times the class will meet for the consideration of fundamental and common problems and for the interchange of information. During the session 1909-10 carefully selected phases of the recent labor history of Chicago, or specially important labor organizations, will be investigated with the immediate purpose of bringing out and scientifically examining the viewpoints and methods of action involved in the working relations, peaceful or belligerent, between labor organizations and employers. Open to graduate students and, on the approval of the instructor, to Senior College students who have taken one or more of the courses devoted specifically to the study of labor and labor problems. 2 Mjs. Autumn and Winter quarters, 9:30, ASSISTANT PROFESSOR HOXIE.

GROUP VI. THE INDUSTRIAL FIELD

50. Railway Transportation.-The economic, financial, and social influences arising from the growth of modern railway transportation, especially as concerns the United States, will be discussed. An account of the means of transportation developed in Europe and America during the early part of this century; the experiments of the states in constructing and operating canals and railways; national, state, and municipal aid to private companies; the rapid and irregular extension of the United States railway system; the failures of 1893; the reorganizations and consolidations since that time, with some attention to railway building in other countries, will form the historical part of the work. A discussion of competition, combination, discrimination, investments, speculation, abuse of fiduciary powers; state legislation and commissions, and the Inter-State Commerce Act, with decisions under it; and the various relations of the state, the public, the investors, the managers and the employées, will form the most important part of the work. This course gives a general view of the subject. Mj. Winter Quarter, 11:00, AssoCIATE PROFESSOR MARSHALL.

51. The Regulation of Railway Rates. A comparative study of the experience of the United States, Great Britain, Germany, France, AustriaHungary, Russia, and Australia, made for the purpose of ascertaining: (a) whether the public regulation of railway rates leaves the railways sufficiently unhampered to enable them to develop trade and industry; (b) whether it secures more substantial justice for the producer and the trader than does the policy of leaving railway rates to adjust themselves. Mj. Spring Quarter, 11:00, AsSOCIATE PROFESSOR MARSHALL.

53. Problems of American Agriculture.— Reasons for the movement of population from agriculture to other occupations; influence of our land policy and railway development upon methods of agriculture and waste of resources; fundamental importance of establishing methods of agriculture that will maintain the productiveness of the soil; comparative status of the agricultural and other classes and methods of raising the ideal and improving the status of the farming class; changes in the volume of production; price and methods of marketing the different crops and live stock products; farm labor problems; tenant farming; size of farms; change in value of farm lands; the work of the agricultural department and of agricultural colleges. [Not given in 1909-10.]

54. Insurance.-This course will aim to cover those aspects of insurance important to the practical business man. The history and theory of insurance will be examined with especial emphasis given (1) to Life Insurance: the various forms of organization; theory of rates; the different combinations of contracts; loan and surrender values; dividends; distribution periods; (2) to Fire Insurance: the various forms of business organization; the terms and conditions of the insurance contract; the different forms of hazard, and the computation and combination of rates therefor; the theory of reserves; coinsurance; the problem of valued-policy laws; (3) the general principle of public supervision with regard to the different forms of insurance, and the wider question of public ownership. [Not given in 1909-10.]

55. Industrial Combinations-Trusts.-A discussion of the growth of the conditions which have made large business coalitions possible, the motives which have led to their formation, the conditions requisite to their successful operation, the character and extent of the advantages to be derived from them, the drawbacks and dangers which may be involved in their further growth, the chances of governmental guidance or limitation of their formation and of the exercise of their power, the feasible policy and methods that may be pursued in dealing with the trusts. Mj. Autumn Quarter, 12:00, DR. WRIGHT.

56. Economic History of the United Staies.-This course covers the same general field as course 5, but is designed for students who have taken courses I and 2. Mj. Spring Quarter, 8:30, DR. WRight.