ABSTRACT
COLANDER & KLAMER surveyed graduate students in US Ivy League universities and concluded that “there definitely seems to be a Chicago School of Economics”. Chicago students evidenced a higher degree of confidence in the market, a readier acceptance that there is a sharp line between positive and normative economics, more conviction that inflation is primarily a monetary phenomenon, and more commitment to the view that the Federal Reserve should maintain a constant growth of the money supply. Students at other schools (such as Stanford and MIT) demonstrated more interest in assumptions of price rigidity, imperfect competition, and mark-up pricing.
