Because Monopolistic Industry had grown to be too large a subject to be used by the Department of Economics as a special field, the second half of old Economics 4 has been divided into Economics 4b, "Industrial Organization and Control," and Economics 4c, "Public Utilities including Transportation." Either of these courses may now be chosen as a special field by concentrators in Economics and candidates for honors in either of them may now choose Government Regulation of Industry as a correlative field.

Economics 4b will cover competitive and monopolistic forces in manufacturing, mining, and other commercial interests exclusive of agriculture under the guidance of Professor Mason and Dr. Wallace. The effect of the NRA on business and what acts should be taken when it expires next June will receive special attention.

Professor Chamberlain, also, will be assisted by Dr. Wallace in Economics 4c, which will discuss the problems of the light, gas, water, bus, railroad, and air interests. Continuing the policy of considering current events, the course will discuss the proposed regulations of motor transportation and the work of the Federal Railroad Coordinator with the suggested changes proposed in the reports of Mr. Eastman. The possibilities of public ownership will also enter the discussion as a possible alternative.

In both courses, Dr. Wallace will give about one-third of the lectures. Section meetings will be held occasionally, but it is not yet decided how often. Economics 4 has held meetings once in every ten days, and it is probable that this policy will be continued. The reading will be comparable in amount to that of Economics 4, but it will be changed somewhat to make it more interesting and pertinent to current problems.