The Bundesbank, Maastricht and world financial markets
1 I would like to acknowledge the assistance of UWA archivists, Maria Carvalho, Mim Congdon and Narelle Crighton for allowing me access to a range of documents and to thank Mark David, Manager of HR Services at UWA, for permission to examine a number of staff files. I am also indebted to the following past and present economists from UWA who either talked to me about the project or provided me with comments: Reginald Appleyard, Roger Bowden, Ken Clements, Robin Ghosh, Ray Petridis, Darrell Turkington and Douglas Vickers. Thanks also to Simon Mongey, for compiling Appendices 3 and 4, John Roberts, for providing a copy of his 1979 class notes on monetary economics, and Rony Gabbay, for providing his list of publications. The initial plan for this paper provided for consideration of economics at the WA Institute of Technology / Curtin University of Technology, Murdoch University and the WA College of Advanced Education / Edith Cowen University. To that end, I spoke with, or received comments from, Peter Kenyon, Robert Leeson, Margaret Nowak, Herb Thompson and Malcolm Tull. However, that project turned out to be too unwieldy and the paper was reduced to its current form. I thank these people for their assistance and apologise for not being able to utilise their comments.
2 He was generally referred to as ‘Ian’ (and not ‘Ivor’) Bowen. He also published under the name ‘Ian Bowen’.
3 Optional units offered included ‘History of Economic Thought’, ‘Agricultural Economics’ and ‘Social Economics’ as well as units that were directly linked specialisations within the degree.
4 John Roberts, a student of Arnold Cook in 1979, has kept the unit outline for Cook’s 1979 class in “Monetary Economics 210”. The outline is a very high quality document. It includes a summary of each lecture topic and is supported by around fifty references for each topic. Roberts has also kept the lecture notes that he took during Cook’s lectures in this unit.
5 In February 2009 the Geographical Association of WA introduced the Joseph Gentilli Memorial Award. It noted:
“Dr Joseph (Joe) Gentilli, as a 27year-old, arrived in Fremantle in 1939 and soon obtained a job teaching statistics at the University of Western Australia. However, his main interest was geography and he gradually designed and built up a Geography course until it eventually became its own department at the university. Dr Gentilli was known as the ‘father of Australian Climatology’” (Geographical Association of Western Australia 2009, p. 21)
6 Leslie Clarkson (PhD Nottingham) was a lecturer in economic history but left the UWA economics program in 1966, which was a major loss to the program. He went on to become Professor of Social and Economic History at Queen’s University in Belfast and published numerous articles and chapters on European economic and social history. Clarkson was made a member of the Royal Irish Academy in 1990 and is currently Emeritus Professor of Social History at Queens University. His major books include Death, Disease and Famine in Pre-industrial England(1976), Proto-industrialisation: the First stage of Industrialisation (1985) and AUniversity in Troubled Times: Queen's Belfast, 1945-2000 (2004).
7 The UWA handbook for 1964 does not record any economic history unit for second year students – only first year and fourth year.
8 Appleyard is currently consolidating the major findings from this long running longitudinal study, which he hopes to publish as a book.
9 Craufurd Goodwin (1968) reviewed this book for Economica and, after contrasting Terence Huthison’s comment in the preface that it is the “first full account of this subject” with Donald Winch’s (1965) Classical Political Economy and Colonies, published two years earlier, suggested that “In bringing forth his book at this time Dr Ghosh may be the victim of deplorable delays as well as execrable production by his Indian publishers” (1968, p. 314).
10 While at UWA Ghosh did not publish his HET research in refereed journals, two of his departmental discussion papers were influential: ‘Adam Smith on Capital Accumulation and Growth’ (Ghosh 1984) was an extension of an earlier unpublished paper that attracted favourable comment from Walter Eltis (1975) and ‘John Stuart Mill on colonies and colonization’ (Ghosh 1985) was published in a collection on John Stuart Mill (Wood 1987).
11 More recently Davies became the foundation editor of the Journal of Australasian Mining History,from its inception in 2003 until today.
12 Appleyard has indicated that his approach to running the department was modeled on that of Professor W. D. Borrie, the head of demography when Appleyard worked at the Australian National University.
13 In the decade prior to Vickers’s arrival, Petridis was the editor of Economic Activity from 1963 to 1969, before Alexander Kerr took over the editorial role (with Robin Ghosh subsequently taking over editorial responsibility for the journal after Kerr’s departure fro UWA in 1975 for Murdoch University). Petridis continued to publish in Economic Activity until 1986.
14 Although, it should be noted that Reginald Appleyard’s recollection of Vickers’s departure from UWA accords with Treloar’s account.
15 Although, as Treloar (1988) has noted, the general decision to establish a separate Industrial Relations Department was largely taken by Faculty in 1977.
16 This arrangement basically reflects the model that Appleyard has often espoused. As a master’s student in the UWA economics program in the mid-1980s, I recall Appleyard introducing seminars by observing that there are three fundamental elements to economics: theory, measurement and history. When the Japanese studies area is set aside, as it was eventually moved out of the Faculty, the three remaining Chairs in economics correspond to each of these three fundamental elements: economics, for theory, applied economics, for measurement, and economic history, for history.
17 Clements still plays a leading role in the economics program at UWA, where he is currently head of economics.
18 David Treloar (1988, p. 271) reports that there was “internecine conflict between two members of the Department of Economics” at the Academic Board meeting to consider funding for the establishment of the Faculty’s Economic Research Centre.
19 In the undergraduate program from 1984 to 1987, units that fall within the economic history stream are: Economic History 100, Economic History 200, British Economic History 210, Russian Economic History 220, Japanese Economic History 231, Japanese Economic History 232, Australian Economic History 241, Australian Economic History 242, United States Economic History 250, South East Asian Economic History 260, Economic development 220, Population Economics 230, Middle East Economics 270, Middle East Economies 370, Middle East Economies 470, History of Economic Analysis 310, and Topics in Post-War Australian Economic History 410. The economics department introduced a coursework masters program in 1986, which also offered two units from the economic history stream: Topics in Economic History 502; and Topics in Contemporary Middle East Economies 503.
20 Reginald Appleyard has suggested that Treloar’s negative comment on research output should be read in the context of: a rapid rise in student numbers, which placed greater demands on the teaching staff; the introduction of half units, which provided scope for a greater range of units to be offered; and the distorting role played by a particular economic history lecturer who was not inclined to undertaking research.
21 The author of this paper has very fond memories of the small postgraduate classes he took on Middle East Economies, which was taught by Rony Gabbay, Topics in Economic History, which was taught by Ian vanden Driesenand Reginald Appleyard, and Topics in the History of Economic Analysis, which was taught by Robin Ghosh.
22 Rony Gabbay has supervised eight PhD theses and at UWA and Ghosh has supervised two.
23 Two of these theses concerned consumption economics (alcohol, meat) and one on the economics of protection
24 The title “PhD conference in Economics and Business” did not emerge until the fourth conference in 1991. The first conference was convened between 1-3 November 1987 at UWA, but was titled the ‘Economics Postgraduate Research Conference’, the second conference convened in November 1988 prefaced the previous title with the word ‘international (i.e. the “International Economic Postgraduate Research Conference’) and the third conference, convened in November 1989, reverted to the original title by dropping the word ‘international’. Two academic reports on the PhD Conference have since been published, the first by Robert Gregory, Takashi Takayama and Kenneth Clements (1991) and the second by Qiang Ye and Kenneth Clements (1999).
25 Robin Ghosh also places considerable weight on the importance of Miller’s contribution to course structures in the late 1980s.
26 Turkington classes McAleer along with Bowden as the two best research economists to have worked at UWA during his period of tenure.
27 This is not to say that the path followed from the early 1990s onwards was always smooth. Someone may extend the history of economics at UWA into the 21st Century, and, if they do, they will no doubt find instances of conflicting vision. The point here, however, is that the structure of the UWA economics program in the early 1990s and the research potential of economics staff employed at UWA provided a suitable basis from which a strong economics program could prosper. It should be noted, however, that this assessment is not shared by all members of Staff from the 1992.
28 PhD dissertations undertaken in the UWA economics programs for the period of this study are listed in Attachment 1 and a selection of masters dissertations are listed in Attachment 2.
29 The full Shann lecture program for the period under review is shown in Appendix 3 The Shann memorial lectures presented during the 1980s were published by Abu Siddique (1993) and a companion volume of lectures presented during the 1990s was published by Paul Crompton (2004).
30 Unfortunately UWA’s records of Bateman lectures are incomplete and a comprehensive list of Bateman lectures dedicated to economics is not available. Appendix 4 contains a fragmented record of such these lectures.
31 Although, it should be noted that Douglas Vickers was a committee member of the WA Branch for much of his time, even serving as a Vice President in 1977. Wayne Frank was also Treasurer in the five years to 1973.
32 Michael McAleer made a brief appearance on the WA committee in late 1991.
33 Prior to the introduction of the ‘Austin Holmes’s award, the ‘Economic Society’ award was given at a time when the Society’s WA Branch was mainly presided over by representatives from industry and public service, with awards made to Sir Charles Court and Sir Harry Sorensen. In 1984, the Award was also presented to Alexander Kerr.
34 Pamela Statham taught first year microeconomics for many rears