TRANSACTIONS OF SECTION F, 697 



suggested by Trofessor Marshall, the chief subjects being History, Economics, 

 and Political Science. 



(2) The existing ITonours Degree in Economic Science at the Scottish 

 Universities. 



(3) A proposed post-graduate school at Oxford iu Economics and cognate 

 subjects. 



(4) The new degrees of B.Sc. and D.Sc. (in Commerce, &c.) at London 

 Unirersity, the subjects for the ordii^ary B.Sc. being Economics, History, Public 

 Finance, and either Accountancy or a legal subject. 



(5) The Edinburgh scheme of granting the M.A. degree (with certain modifi- 

 cations) in * commercial ' subjects. 



"While these schemes are satisfactory so far as they go, they cannot be accepted 

 as supplying a cojnjilcte education of the future business man by the university. 

 For instance, they give no teaching that would be helpful towards the understand- 

 ing of the processes of manufactures, therefore they need to be supplemented by 

 courses in applied sciences. Such teaching (e.//., economics and applied science) 

 has the advantages of both the English and German systems. Two schemes 

 endeavour to eftect this union — that of the Birmingham Faculty of Commerce 

 (adapted for a university which works on the three-term system with a B.A. 

 degree) ; and a scheme proposed for universities, such as those of Scotland, with a 

 long session. 



(1) T/ie Binninijham Scheme ofters the degree of Bachelor of Commerce after 

 a three years' course. The following are the subjects of examination at the end 

 of the third year: A. — Six papers in all of the following: 1, Commerce; 



2, Modern Languages ; 3, Accounting ; 4, Commercial Law ; 5, Transport. B. — Six 

 papers chosen from the following : 1, Technique of Trade ; 2, Money, Credit, &c. ; 



3, Methods of Statistics ; 4, Factory Hygiene ; 5, (i) Physics ; (ii) Chemistry ; 

 (iii) Engineering ; (iv) Metallurgy ; (v) Economic Geology ; (vi) Electro-technics ; 

 (vii) Brewing ; (viii) Mining. 



(2) A Scheme adapted to the Scottish Universities, proposing the degree of 

 B.Sc. (in Economics and Applied Science) after two courses of lectures and two 

 examinations in each of the following subjects selected by the student: First 

 examination in three subjects on the M.A. standard. Final examination in three 

 or more subjects on an honours standard (one subject at least to be taken from 

 Group ii), Stibjects: Group i. — 1, Commercial Law; 2, International Law; 

 3, Modern History ; 4, Political Science, Group ii. — 5, Agriculture ; 6, Economic 

 Botany ; 7, Geology, &c. ; 8, Engineering ; 9, Political Economy ; 10, Public 

 Finance; 11, Pure Economics, Banking, &c. ; 12, Technological Chemistry; 

 18, Technical Zoology ; 14, Transport. 



The advantages of the last proposal are that in every case the student will 

 enter on the applied part of his course after having acquired a sufficient acquaint- 

 ance with the principles of his subject. The flexibility of the scheme enables 

 subjects to be grouped so as to answer the needs of most businesses. The exten- 

 sion of the influence of the universities to include practical interests would bft 

 valuable both to them and the students of the proposed curriculum. 



FRIDAY, SEPTEMBER 12. 

 The following Papers were read : — 



1. Trusts: from the Point of View of Economical Theory. 

 By Professor W. Graham, M.A. 



The principal object of the paper is to attempt to estimate the effect of a 

 general Trust system on the chief economic categories — namely, production, prices, 

 profits (including interest), and wages. 



