Interesting topic - What is(was) taught in intro macro classes where you went to school?
I had been reading Austrian literature from the age of 17 and was under the impression that mainstream econ was almost entirely Keynesian. When I actually took an intro macro class ( last year ) I found this to not really be the case. Example(relevant) - We were taught that the phillips curve DOES NOT hold in the long run ie - in the long run the classical dichotomy holds and there is no relationship between unemployment and inflation(we even went through how Friedman predicted this in the late 60s and was subsequently proven correct by the great inflation of the 70’s and 80’s), the conclusion drawn from this was that policy makers should be very hesitant about inflating in the short term to drive down unemployment as it’s only a short term fix with costly trade offs. Interestingly todays policy seems to be ignoring these lessons…
I was expecting the course to be quite painful but was pleasantly surprised, mainstream econ and Austrian theory seemed to generally be in agreement over the long term.