Posts filed under ‘Syllabus Exchange’

Popular Economics Readings

| Peter Klein |

CDYFOCnUsAEllehThe Open Syllabus Project is a useful repository of course reading lists from almost every academic discipline. (Hey, we had the idea first!) A fun feature is the ability to browse by popularity, i.e., to see the most frequently assigned readings in a particular field. Of course, the sample consists of syllabi posted on public websites, so it may be biased toward particular kinds of courses or universities. Still, the findings are interesting. This article complains that The Communist Manifesto is near the top across all disciplines, but confusingly bounces back and forth between economics and other fields and doesn’t distinguish among textbooks, research monographs, and research articles.

I made my own list of most popular items under Economics, excluding textbooks and other non-research materials. The results are interesting:

  1. Coase, “The Problem of Social Cost”
  2. Smith, The Wealth of Nations
  3. Keyness, The General Theory
  4. Hardin, “The Tragedy of the Commons”
  5. Marx, Capital
  6. Pritchett, “Divergence, Big Time”
  7. Coase, “The Nature of the Firm”
  8. Tiebout, “A Pure Theory of Local Expenditures”
  9. Akerlof, “The Market for Lemons”
  10. Hayek, “The Use of Knowledge in Society”
  11. North, Institutions, Institutional Change, and Economic Performance
  12. Friedman, Capitalism and Freedom
  13. Stiglitz, Globalization and Its Discontents
  14. Friedman, “Monetary Policy”
  15. Solow, “A Contribution to the Theory of Economic Growth”
  16. David, “Clio and the Economics of QWERTY”
  17. Spence, “Job Market Signaling”
  18. Marx, Communist Manifesto
  19. Dornbusch, “Expectations and Exchange Rate Dynamics”
  20. Easterly, The Elusive Quest for Growth
  21. Friedman, “The Role of Monetary Policy”
  22. Grossman and Helpman, “Protection for Sale”
  23. Diamond, “Social Security”
  24. Kremer, “Population Growth and Technological Change: One Million B.C. to 1990”
  25. Stigler, “The Theory of Economic Regulation”
  26. Freeman, “Are Your Wages Set in China?”
  27. Duflo, “Schooling and Labor Market Consequences of School Construction in Indonesia”
  28. Arrow, “Uncertainty and the Welfare Effects of Medical Care”
  29. Rogoff, “The Purchasing Power Parity Puzzle”
  30. Barro, “Are Government Bonds Net Worth?”

Pretty much all classics, and not surprising to see any on a reading list. But some surprising omissions. No Samuelson, Becker, Lucas, Krugman, Sargent, Kahneman, or Fama, just to mention a few Nobelists. No Shleifer, Tirole, Mankiw, Holmstrom, Simon, Jensen, Kreps, Alchian, Demsetz, and others with highly cited SSCI or RePEC papers. Of course, these are undergraduate as well as graduate syllabi, so highly technical articles assigned to PhD students are less likely to make the cut. Still, this might be a good “Books and Articles Every Economist Should Know” kind of list.

29 January 2016 at 3:41 pm Leave a comment

PhD Strategy Syllabi

| Peter Klein |

Russ Coff has assembled an impressive list of syllabi and reading lists for PhD courses in strategy, innovation, research methods, and related subjects. Feel free to send him additional suggestions. Many useful references here for faculty and students teaching or taking these courses, and for anybody wishing to learn more about classic and contemporary literature in strategic management research.

25 November 2014 at 9:21 pm 2 comments

The Myth of the Flattening Hierarchy

| Peter Klein |

We’ve written many posts on the popular belief that information technology, globalization, deregulation, and the like have rendered the corporate hierarchy obsolete, or at least led to a substantial “flattening” of the modern corporation (see the links here). The theory is all wrong — these environmental changes affect the costs of both internal and external governance, and the net effect on firm size and structure are ambiguous — and the data don’t support a general trend toward smaller and flatter firms.

Julie Wulf has a paper in the Fall 2012 California Management Review summarizing her careful and detailed empirical work on the shape of corporate hierarchies. (The published version is paywalled, but here is a free version.) Writes Julie:

I set out to investigate the flattening phenomenon using a variety of methods, including quantitative analysis of large datasets and more qualitative research in the field  involving executive interviews and a survey on executive time use. . . .

We discovered that flattening has occurred, but it is not what it is widely assumed to be. In line with the conventional view of flattening, we find that CEOs eliminated layers in the management ranks, broadened their spans of control, and changed pay structures in ways suggesting some decisions were in fact delegated to lower levels. But, using multiple methods of analysis, we find other evidence sharply at odds with the prevailing view of flattening. In fact, flattened firms exhibited more control and decision-making at the top. Not only did CEOs centralize more functions, such that a greater number of functional managers (e.g., CFO, Chief Human Resource Officer, CIO) reported directly to them; firms also paid lower-level division managers less when functional managers joined the top team, suggesting more decisions at the top. Furthermore, CEOs report in interviews that they flattened to “get closer to the businesses” and become more involved, not less, in internal operations. Finally, our analysis of CEO time use indicates that CEOs of flattened firms allocate more time to internal interactions. Taken together, the evidence suggests that flattening transferred some decision rights from lower-level division managers to functional managers at the top. And flattening is associated with increased CEO involvement with direct reports —the second level of top management—suggesting a more hands-on CEO at the pinnacle of the hierarchy.

As they say, read the whole thing.

28 January 2013 at 12:56 am 4 comments

The Institutional Revolution

| Peter Klein |

I’m very excited about Doug Allen’s forthcoming book The Institutional Revolution (University of Chicago Press). Trained by Yoram Barzel (and hence part of the Tree of Zvi), Doug is a leading contemporary scholar on property rights, transaction costs, contracting, and economic history. His work on agricultural contracting with Dean Lueck, including their 2002 book The Nature of the Farm, is a classic contribution to the economics literature on economic organization. He also has a very good introductory textbook. More information is at Doug’s informative (and amusing) website.

Here’s the cover blurb for the new book:

Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions.

In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army.

Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.

Bonus: Here’s the syllabus from Doug’s course on the economics of property rights.

4 September 2011 at 9:43 pm 3 comments

Short Course on Network Economics

| Peter Klein |

I’m teaching a five-week, online course starting in January called “Networks and the Digital Revolution: Economic Myths and Realities.” It’s offered through the Mises Academy, an innovative course-delivery platform that is becoming its own educational ecosystem. A description and course outline is here, signup information is here. I’d love to have you join me!

17 December 2010 at 12:24 pm 3 comments

Tilburg Conference on Private Ordering

| Scott Masten |

O&M readers might be interested in a conference held this week (Sept. 30 – Oct. 1) at the Tilburg Law and Economics Center on the topic “Economic Governance and Competition: The Pros and Cons of Private Ordering in the Shadow of the Law.” The conference was organized by Jens Prüfer and featured keynote presentations by Lisa Bernstein, Avinash Dixit, Robert Gibbons, and Bentley MacLeod. Many interesting papers, several of the authors of which will be familiar to the O&M/ISNIE crowd. The full program, including downloadable papers, can be found here. (Would have liked to attended but classes interfered.)

2 October 2010 at 10:26 am Leave a comment

Chris Coyne’s Austrian Course

| Peter Klein |

Earlier I shared the reading list for my graduate course in the Austrian school of economics. Chris Coyne is teaching a similar class and has posted his syllabus here. Chris’s course is laid out differently than mine, with a different mix among types of readings, but I like what he’s done. As Pete Boettke and Joe Salerno have noted, the diversity and variety of course offerings and educational programs in Austrian economics is a sign of the health and vitality of the school.

1 September 2010 at 10:53 am 4 comments

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Our Recent Books

Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).


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