The record-union., 1893-12-12
UNIVERSITY EXTENSION.
Proposed Lectures on the Economics
of Industry,
Professor Plehn Outlines the Manner
in Which the subject VIII
be Treated.

Since the Sacramento University Club
is now receiving subscriptions to the
proposed course of lectures on the Eco
nomics of Industry" the following ex-
tracts from letter by Professor Plehn to
a member of the club will be of interest,
as showing the scope of his lectures:
My object in this course will be to
give my hearers, first, an idea of what
the science of economics is all about; Sec
ond, to give such hints as to methods of
study and books TO read as would assist
any one who was sufficiently Interested
to pursue the subject further; and, third,
to eXpound and explain some of the more
fundamental dOctrines-to point out the
errors of current thought on these sub
jects. and to show the direction in which
economic science is now seeking a solu-
ton Of important questions.
people in general find great difficulty
in understanding the great questions OF
the day-such as the relations of labor
and capital, the silver question, the
tariff-not because of the inherent diff
culties of these questions in and of them
selves, but because such an understand
ing demands first clear grasp Of some OF
the fundamental principles of economic
science
Following is more detailed outline OF
the lectures: The frs: two lectures will
be devoted to the history of the study OF
political economy, and to definitions
necessary to an understanding of the
subject. Sections 3 TO Z will be on the
constituent elements of economic life, in
Guiding:
First-Natural elements (such as cli-
matte and geographical influencesl, raw
products, land, rent and the law of di-
minishing returns.
Second = Population and its needs
(under which head will be discussed the
Malthuslan theory of population), the in
crease Of population, birth-rate, death
rate, emigration, proportion of sexes, de-
tectlve classes, sumptuary laws, stand
ards of life.
Third-Labor and wages, including the
different forms of labor, the quantity and
quality of labor force, the organization
of labor, the division of labor, the or
gdnization of modern industry, methods
OF industrial remuneration, cooperation
and Notwithstanding, the amount OF wages.
Fourth-Capital and interest; the diff
ferent forms of capital; what socialism
means by capital; supply and demand,
as determining the rate of interest.
Flfth-The lender of industry and his
profits; the functions of the entrepreHeur;
the law governing profits; the earnings
of monopoly; plans proposed by social
lists Tor reorganization OF industry.
! Lectures eight and nine will be on
| some Of the processes OF economic life,
! as. first, exchange and money, including
a brief outline of the history OF silver
since l545, and Of the history Of silver in
/ the United states; second, international
! exchange. with the history OF the tariff in
| the United States since 1889. a brief out
! line of the causes of industrial crises will
| be included in the course.
In treating party questions Professor
| Plehn writes: at is my custom in the
| classroom. as elsewhere, to take a nom
/ partisan standpoint and simply state his
torical facts (Which, by the way are usu-
ally distorted in current discussion), the
opposing arguments at different periods,
and-except where economic science
points to definite conclusiOn-leave my
auditors, to apply the facts as they see
| fit"