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The inspiring teacher is a well-recognized type in education, celebrated in fiction from Goodbye Mr. Yet specialization is relentless, even in education. Especially in research universities, the razor-like maxim often holds: In recent years, however, the value of stellar educators has become so obvious that, landreth trading options in big research universities, landreth trading options of chemistry, physics, biology and economics have begun offering tenure to the occasional gifted PhD who, over the landreth trading options of a long career, is expected to concentrate mainly on teaching undergraduates — landreth trading options commitment landreth trading options produce cutting-edge research required.

That he turned up at all owed mainly to Harry Landreth, his professor at Miami University, landreth trading options Ohio, for whom Case had taught classes as a senior. Rosovsky, the incoming chairman, arranged a second letter. Certainly, Case was not a typical graduate student in that year of winding down the war in Vietnam.

He was married, for one thing. He was a passionate outdoorsman. He was not particularly mathematical. And he was just back from a year as an Army lieutenant in Quang Tri, and had a colorful vocabulary to show for it.

Yet he was in love with economics; ready to take the math-for-dummies course necessary to form at least a speaking acquaintance with linear algebra and transcendental logarithmic production functions; able to form strong bonds with key older members of the faculty, Richard Musgrave and John Kain in particular; and willing to serve as a source of levity and relief to his fellow students in a department preoccupied landreth trading options turning itself around.

He would be a ranking, but still not-quite-first-class citizen in the capital city of the Republic of Landreth trading options. Before long, it landreth trading options obvious that he was a master teacher. Wellesley students headed for business school thronged to his class. More than a few went to economics departments instead.

No fewer than eighty Wellesley women have obtained PhDs in economics in the thirty years since Case began teaching there. Virtually all credit him with having played some part in the process. Still, he managed to keep a hand in research. As a graduate student, he did field-work on the landmark study Housing Markets and Racial Discriminationby Kain and John Quigley, now of the University of California at Berkeley, which crystallized his life-long interest in residential real-estate markets.

Once established at Wellesley, he signed on as a researcher in regional economics at the Federal Reserve Bank of Landreth trading options. Then, in the s, with Landreth trading options Fair of Yale University, he co-authored an introductory economics textbook which not only succeeded commercially, but which produced some key changes landreth trading options the way economics today is taught to college students — microeconomics first, instead of business cycles.

But it was at the Boston Fed that Case struck it landreth trading options, first intellectually, then financially. Not until was the depth of that wisdom borne in upon him — when the value of their house went up 40 percent in a single year. Case checked real estate prices in a dozen cities around the country, looking for similar appreciation in other markets. He asked his macro co-author, Fair, to recommend an expert on bubbles: What was needed, Case and Shiller agreed, was a proper index of house prices: It was a tall order, but not an impossible one.

Doyle spent the summer in deeds offices in six cities and towns around the state. When she was done, the professors had something worth having — the clearest picture ever developed of what a theorist would want to know about developments in a single market.

Another summer of collecting similar prices, in other cities around the country, and Case and Shiller had a paper in the March American Economic Review: She is now a lecturer at Dartmouth College.

Eventually the paper would become famous, at least landreth trading options certain circles, as evidence that even the housing market was prone to the kinds of mood swings that seemed to routinely afflict the markets for stocks and bonds.

The reason that macroeconomists are interested in such matters should be amply clear in the winter of ! If indeed one region of the country could swing up landreth trading options another swung down then there were risks to home owning that a prudent investor, especially one who thought he might someday move, could hope to hedge against — but only if there were an actual market for such risks.

The partners now enlisted a Shiller student, Allan Weiss, and formed a company to create the kinds of dependable indexes of house prices in cities around the country on which trading of index-based futures and options could be based. Each put up a few thousand dollars at the beginning. A decade later, when the company had become the market leader in residential housing data and valuation, they would sell it for many millions.

His wife, who had moved to Milton Academy to serve as college counselor, added a new stream of students. Case began filling in teaching introductory economics at Harvard Law School. Throughout, Case invested wisely, speculated even more wisely in fancy wine, drank more than a little of it with friends along the way, and went to as many Boston Red Sox games as possible. Dozens of friends and former students turned up. Buzz about the subprime crisis filled the breaks.

The final dinner was a particularly warm occasion. Edward Lazear, chairman of the Council of Economic Advisers, landreth trading options. At the end of the long evening, Case returned it all in kind. A learner with the simplest, a teacher of the thoughtfullest; A novice beginning, yet an experient of myriads of seasons; Of every hue and caste am I, of every rank and religion A farmer, mechanic, artist, gentleman, sailor, quaker A landreth trading options, fancy-man, rowdy, lawyer, physician, priest.

I landreth trading options anything better than my own diversity I breathe the air, but leave plenty after me, And am not stuck up, and am in my place. Home About Archive Bulldog Edition. What is Better Than Beating the Yankees?

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