Invitation and ProgramSeventhBiennial Meeting

Pennsylvania Conference of Economists

2:00 p.m., Thursday. June 8 to 2:00 p.m., Friday, June 9,1967

Lebanon Valley CollegeAnnville, Pennsylvania

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PROGRAM

THURSDAY, JUNE I

REGISTRATION: I t noon to 4:00 p.m.

R E S E A R C H P A P E R S

t:00 - 4:30 p.m.Chairman: HOWARD M. TEAF, JR., Haverford CollegePapers : DAVID B. HOUSTON, University of Pittsburgh

"Regional incorni Growth"WILL LYONS. franklin and Marshall College "A Neu Look a t the Stagnation Thesis"DAVID W. STEVENS, The Pennsylvania S tate University "LaboA Sector E la stic itie s as a Guide to the Development of Labor Market information"

Introduction» ROBERT C. RILEV, President, Pennsylvania Conference of Economists

C U R R E N T R E S E A R C H B Y G R A D U A T E S T U D E N T S I

1:30 - 10:15 p.m.

Board of Governors, The Federal Reserve System "Member Batik Borrouing irom the federal Reserve"GIEN BEESON, University of Pittsburgh"The A pptlcab ility of Spatla l Economic Tkeory Touard Vefining the Relevant Market for Antitrust?

MICHAEL HARTLEV, University of Pennsylvania."An Extension of Simultaneous Least Squares"HIROKI TSURUMI, University of Pennsylvania "An Econometric Model of th e Automobile Industry"HARREN WEBER, Carnegie In stitu te of Technology "Short-run Dynamic Consunption Models"

Discussion: Audience Participation

D IN N E R M E E T IN G

6i00 - 7:30 p.m.

Welcome: ALLAN MUND, Acting President, Lebanon Valley College

Speaker: KARL R. BOPPr PrtAid*Mtf The federal Reserve Banfe of PhiladelphiaTopic* "The Agony of Monetary Policy"

Chairman: DAVID EASTBURN, federal Reserve Bank of Philadelphia Papers: LESLIE M. ALPERSTEIN, University of Pittsburgh

Discussion: Audience Participation

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CURRENT RESEARCH BY GRADUATE STUDENTS H 1:30 - 10:15 p.m.Chalkman: JACOB J. KAUFMAN, The Pennsylvania. S ta te UniversityPapers: ERNEST BONNER, U niversity of, Pittsburgh

"Higher Education as a Major S ta tt Industry: The impact o i a University on i t s Commnity and State"BERNARD BOOHS, University o i Pittsburgh"Empirical Estimates o i Secondary Education Production functions"JEROME V. HASS, Carnegie In s titu te o i Technology "Transfer Pricing in a Decentralized Firm: A Decomposition Algorithm for Quadratic Programing"CHARLES UPTON, Carnegie In stitu te o i Technology "Optimal Taxing o i Water Pollution"SAMUEL UAGNER, Temple University "Underdevelopment in Indian Agriculture"

THURSDAY, JUNE t {Continued)

FRIDAY, JUNE 9

9tOQ - 10:30 a.m.11:00 - 1T:bd noonPanel: The Teaching o j Economics in the Public SchoolsChairman: MARK PERLMAN, U niversity o{ PittsburghPapers: ARTHUR WELSH, Joint Council on Economic Education

"Economic Education in th e Secondary Schools - The National Picture"STANLEY KILLER, The Pennsylvania S ta te University "Economic Education in th e Secondary Schools o i Pennsylvania."JOHN F. SOWS LAY, Pittsburgh Board o i Public Education"The Pittsburgh Experience: Economics in the Secondary Schools"ROBERT HAINAN, Pennsylvania M ilitary College"Sum er Workshop lor Training Teachers o i Economics in theSecondary Schools”

Teaching Techniques in Principles o j Economics GEORGE I. TREVZ, Haveriord College"Computer Problems lo r Undergraduate Courses in Macroeconomics"

10:50 - 11:00 a.m. - Business Meeting 1t:50 p.m. - LuncheonChairman: DAVID H. MC KIN LEV, The Pennsylvania. S ta te University Speaker: To Be Announced Closing *H4 -fof44

Announcements

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LOCATION:Lebanon Valley College i s located a t A nnvillt, twenty m ilts east o i HaAAisbuAg and favt m ilts west oi Lebanon.

GENERAL INFORMATION

HOW TO REACH LEBANON VALLEY COLLEGE:8y Ca* - Tht Canpus ¿acts U.S. Highway 422 on the soath and Pennsylvania Highway 934 on th t w tit . Highway 422 i s an east-west highway paAolleling U.S. Highway 22 to th t noAth and th t Pennsylvania TuAnpikt to th t south (tue the Lebanon-LancasteA JnteAchangt of th t Pennsylvania TuAnpikt).By Bus - Bus seAvict exists between majoA cities and teAminals in Heading and MAÀZsbuAg. Fami these two teAminals, bus seAvict i s ava ilab lt to A nnvillt, oveA Highway 422.By Hail - Railway seAvict i s ava ilab lt betwttn majoA c i t ie s and teAminals in Reading and HaAAisbuAg.By AiA - Ain connections can be made between majoA c itits and th t HaAAisbuAg-VoAk s ia te AiApoAt which seAvices je t tAa^ic.

FEES:

Cost peA AegistAant ioK a l l events; including biennial dues oi ConieAtnct oi Economists, sleeping accotmodations, and meals:

EntiAt ConltAenct including dues (double Aoom) EntiAt ConieAtnct including dues \single Aoom) June i only [DinneA and ConieAtnct dues)June 9 only (Luncheon and ConieAtnct dues)June i (VinneA only)Wiie [EntiAt ConieAtnct)

[All i te s apply to Individual AegistAation. )

Please mail AtseAvations by Hay 20 to : RobeAt C. RileyLebanon Valley College Annville, Pennsylvania

Please makt youA check payable to LEBANON VALLEY COLLEGE

OFFICERS:

President: RobeAt C. R iley, Lebanon Valley CollegeViet-President, PAogAm: Gnant N. Foaa, Tht Pennsylvania. S ta te UniveAsity Vice-PAtsident, HembeAShip: Reuben E. SlesingeA, UniveAsity o i PittsbuAgh SecAttaAy: David H. UdUnlty, Tht Pennsylvania S ta te UniveAsityTAtasuAtA: Edwin H. Yot, III, PittsbuAgh National BankExecutive Comnittet: Anthony J. Bkyski, Lehigh UniveAsity

LawAence Klein, UniveAsity o i PennsylvaniaDavid EastbuAn, FedeAal ReseAvt Bank o i Philadelphia

the Pennsylvania

$16.00 I t . 00 8.00 6.00 5 .00

12 .00

17003

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PENNSYLVANIA CONFERENCE OF ECONOMISTS Lebanon Valley C o llege

June 8 and 9, 1967

ALBRIGHT COLLEGE David L. Schw artz

ALLENTOWN COLLEGERev. Thomas J . Furphy

BEAVER COLLEGEEverett B. Townsend

BOARD OF GOVERNORS,FEDERAL RESERVE SYSTEM

L e slie M . A lperstein

BUCKNELL UNIVERSITY W illiam H. Cooper R u sse ll H eadley Owen Mahon R. N e llis

CARNEGIE INSTITUTE OF TECHNOLOGY Jerome E. H ass C h arles Ward Upton Mr. and M rs. Warren E. W eber

DICKINSON COLLEGEDr. Andrew C . Houston

DREXEL INSTITUTE OF PHILADELPHIA R u sse ll U . M cLaughlin

FEDERAL RESERVE BANK OF PHILADELPHIA Karl Rw Bopp . iMr;, alid Mrs L Hugh C h aim off M rs. E. Deutermann D avid P. Eastburn M r. Epps M r. G ustus D avid C . M elnicoff Mr. W atson

FRANKLIN AND MARSHALL COLLEGE Dr. BellWinthropp Everett D r. W ill Lyons Lee Robins W illiam White s e l l

GENEVA COLLEGE Stew art M . Lee

GETTYSBURG COLLEGEDr. and M rs. W illiam F. Railing

HAVERFORD COLLEGE Holland Hunter Dr. Howard M. T eaf, Jr .George I. Treyz

HOLY FAMILY COLLEGE Dr. Bronislaw Sadnicki

IMMACULATA COLLEGES is te r M. Cor ImmaculatumS is te r Mary LeoDr. M aurice C . Zichy

INDIANA UNIVERSITY OF PENNSYLVANIA Dr. Francis G . McGovern

JOINT COUNCIL ON ECONOMIC EDUCATION Arthur W elsh

KUTZTOWN STATE COLLEGE M iss C on stance J . Hinman

LAFAYETTE COLLEGEMr. and M rs. M orrison H andsaker Mr. and M rs. George Sau se

LASALLE COLLEGEJosep h F . F lubacher

LEBANON VALLEY COLLEGE D r. Robert C . Riley Dr. Ralph S . Shay Dr. M ilton L. Stokes D r. C . F . Jo seph Tom

MORAVIAN COLLEGE Jo h n J . Gehman

MUHLENBERG COLLEGE Robini P. Sinha

PENNSYLVANIA DEPARTMENT OF COMMERCE M r. and M rs. M ilbum L. Forth Jam es Reilly

PENNSYLVANIA DEPT. OF PUBLIC INSTRUCTION D r. Norman A. M illerDigitized for FRASER

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PENNSYLVANIA STATE UNIVERSITY Jo sep h D . Coppock Dr. Grant N. Farr Irwin F eller Jam es B. Herendeen Dr. Jaco b J . Kaufman W esley Long David H. McKinley S tan ley M iller Warren C . Robinson David W. Stevens

PITTSBURGH BOARD OF PUBLIC EDUCATION John F . S o b o slay

PITTSBURGH NATIONAL BANK Lee J . N ash Edw in H. Yeo, III

PRENTICE-HALL, IN C . (C ollege D ivision) Jo h n C . N eifert

SAINT FRANCIS COLLEGES is te r Mary Benjam in, S .S .A .Paul J . M aloskey

SLIPPERY ROCK STATE COLLEGEMr. and M rs. Harold T. W ieand

TEMPLE UNIVERSITY(School of B u sin ess Administration)

Sam uel W agner

THE PMC COLLEGES Robert Hamman

UNIVERSITY OF PENNSYLVANIA M ichael H artley Hiroki Tsurumi

UNIVERSITY OF PITTSBURGH G len Beeson Ernest Bonner Bernard Booms D avid B. Houston Prof. Mark Perlman

UNIVERSITY OF SCRANTON Harry B. Strickland

VILLANOVA UNIVERSITY Rev. John A. Coughlan

WILSON COLLEGERoswell G . Townsend

INSTITUTION UNIDENTIFIED W illiam R. C o llier C . H . Gormon Dr. Leonard H. Sc hoff Harry C . Symons

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PENNSYLVANIA CONFERENCE OF ECONOMISTS Lebanon V&ljey C o llege

June 8 and 9, 1967

A lperstein , L e slie M .

B eeson , Glen B ell, p r .Benjamin SSA, S is te r Mary Bonner, Ernest Boom s, Bernard Bopp, Karl R.

C h aim off, Mr. and M rs. Hugh C o llie r , W illiam R.C ooper, W.C oppock, Jo seph D .C oughlan , Rev. John A.

Deuterm ann, M rs. E.

Eastburn , D avid P.E p p s, Mr.Everett, Winthrop

Farr, Grant N.F e lle r , Irwin Flubapher, Jo sep h F..Forth, Mr. and M rs. Milburn Furphy, Rev. Thomas J .

Gehm an, John J .Gorman, C . H.G u stu s , Mr.

Hamman, RobertH an dsaker, Mr. and M rs. M orrison H artley , M ichael H a s s , Jerome E.H ead ley , R.H erendeen, Jam es B.Hinman, C on stan ce J .H ouston , Dr. A. C .H ouston , Dr. D avid B.Hunter, H olland

Imm aculatum , S is te r M . Cor

Kaufman, Dr. Jaco b J .

L e e , Stew art M.Leo , S is te r Mary Long, W esley L yon s, Dr. W ill

M ahon, O.M alo sk ey , Paul J .M cGovern, Dr. Francis G. M cKinley, David H.M cLaughlin, R u sse ll U. M eln icoff, D avid C .M iller, Dr. Norman A.M iller, Stan ley

N ash , Lee J .N eifert, John C .N e ll is , R.

Perlman, Prof. Mark

R ailing, Dr. and M rs. W illiam F R eilly , Jam es R iley, Dr. Robert C .R obins, Lee Robinson, W. C .

Sadn ick i,, Dr. Bronislaw S a u se , Mr. and M rs. George Sch o ff, Dr. Leonard H. Schw artz, D avid L.Shay , Dr. Ralph S .S inh a, Robini P.S o b o slay , John F.S te v e n s , D avid W.S to k e s , Dr. M ilton L. S trick lan d , Harry B.Sym ons, Harry C .

T eaf, Dr. Howard M ., Jr.Tom, Dr. C . F . Joseph Townsend, Everett B.Townsend, Rosw ell G .Treyz, George I.Tsurumi, Hiroki

Upton, C h arles Ward

W agner, Sam uel W atson, Mr.W eber, Mr. and M rs. Warren E. W elsh , Arthur W hites e l l , W illiam W ieand, Mr. and M rs. Harold T

Yeo JI I , Edwin H.Z ichy, Dr. M aurice C .

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