As someone who does teach economic history, the story is never told 
simply in terms of AD-AS. That does play part of the story but other 
points of view are taught -- the various monetary theories (Friedman and 
Hayek have very different explanations); the various Keynesian views; 
but also the various structuralist views and Schumpeter's ideas on 
cycles. Giving only one view would give student's a incorrect picture of 
the economics profession. As this list demonstrates endlessly, 
economists rarely agree.


Rod Hay