Student: Do you have an overall teaching philosophy?
Dr. Stanton: Yes. Change the world.
Student: Okay I’ll bite. Please expand on that.
Dr. Stanton: I guess I can explain. When I was a student, my professors believed that we should focus on changing the world as our key objective. Make it a better place. All of the facts and figures and equations take second place to this idea that you have an obligation to do the kinds of things that make a real difference. Part of what we do is to give students things that they have to memorize and regurgitate on tests and exams, but that can’t be the big picture. I want them to come away with a different way of thinking about problems after they complete the class, than they had beforehand. Does that make sense to you? I expect that they can and will read the book and the materials, but then having done that, they should be able to participate in conversations that go beyond that. As an example, many students try to memorize formulae and then pray that on the exam, the problem will be just like the one in the textbook so that they can plug in the numbers and get the right answer. I don’t like that approach. If at all possible, I try to give them the intuition and the skills to actually understand the formula and hopefully even derive it if necessary. That said, I also know that if they do as much homework as they ought to, they will also memorize most of the formulae that they need in the process. I think it’s right to expect a lot from students. In my opinion, they are paying to learn the skills that make them a better employee than those around them so that they will have an advantage. And the next generation of UB students who follow in their path, will also benefit if the path breakers stand out as more talented than those educated elsewhere. There is a reputational effect that can be seriously harmed if we hand out high grades for just showing up and exhibiting a pulse. I get some truly great students here at UB and I really want them to achieve the high level of success that I think they are capable of.
Student: Dr. Stanton, after looking over your CV and other material on the web I have quite a bit of background information about you, but is there anything else that you think would be interesting to prospective students, that isn’t on the web.
Dr. Stanton: {laughing} One thing immediately comes to mind. I know that Dean McCarthy, and a few others find it amusing that I was once a DJ. Is that the kind of thing that you meant?Student: A DJ? That hardly seems like the typical path to being a finance professor. There must be a story behind that.
Dr. Stanton: Well, that was a long time ago, but I really enjoyed it. I had a great time with the music and since I wasn’t a great musician, I did it as a really cheap substitute for becoming a rock star. Jokes aside, I learned a lot from it too. It never really made me nervous to speak in front of an audience, or to make presentations, but the DJ experience made me even more comfortable with it. People are surprised that I can still make with the snappy patter when I have to {smile}. Since coming to UB I have also been interviewed or otherwise appeared on television and radio stations very frequently so I suppose it has helped there too.
Student: Out of those interviews, are there any that stand out?
Dr. Stanton: Well, let’s see. Some of the interviews have been sensitive in ways that made it difficult to be really candid. I mean, you do have to realize that there can be repercussions to expressing your opinion in public about things that are politicized. Actually, one of the most fun appearances took place right here on campus, when my friends from WERQ’s Big Phat Morning Show broadcast from the Academic Center.
Student: You said “your friends” from 92Q. I know that you are always making comments in class about that station. Just what is the link between you and that station?
Dr. Stanton: That’s a funny story actually. Before I came to UB, I taught at a university that is just outside Saint Louis. Nelly actually did a concert on that campus, before he really blew up. One of the local radio stations had a morning show that featured Marc Clarke and Troy Johnson, and I used to listen to it regularly. Shortly after I arrived in Baltimore, I saw a WERQ van out in front of Sylvan Beach with Marc’s face splashed across it. It turns out that they left the Lou’ about the same time as I did and ended up in Baltimore. Our paths crossed on a bunch of occasions here in Baltimore after that, in relation to the firebombing of the Dawson home and various other good and bad things that happened here. I started listening to the station because it offered so many insights into what actually goes on in this town. Martin O’Malley, Bob Erlich, Michael Steele, Elijah Cummings… All of the politicians have discovered that 92Q is an important stop, so it helps me stay informed about this city while enduring my long commute. I later visited the website for the station and discovered that Marc dreams of becoming a college professor (You can check this out at their website: 92qjams.com ). Since I did the reverse, the parallels were good entertainment. Marc, Troy and Sonjay also care about Baltimore’s problems and are willing to make things happen when they can. I value them as allies in changing the world because they are willing to take action.
Student: You hardly look a hip hop kind of guy. What music do you like?
Dr. Stanton: You just made a mistake. You jumped to a conclusion based on your prejudice, didn’t you? {laughing} Remember, contributions to stereotypes are not tax deductible! In truth, I like all kinds of music with a couple of notable exceptions. I mean, don’t forget that if you want to really experience this town, the dominant music probably isn’t going to be Celtic. This is the town that spawned jazz legends like Billy Holliday and now it is turning out some of the big stars in all forms of urban music.
Student: So, do you have a favorite artist?
Dr. Stanton: Remember the part about how I used to be a DJ? It would be impossible for me to narrow it down like that. Let’s see if I can give you a list. I actually like some of the old legends. Dinah Washington, Ella Fitzgerald, Frank Sinatra. These people had amazing talent. Among my favorite songs… Here’s a few older songs that are important to me: Old Man by Neil Young; Respect Yourself, Staple Singers; One Love, and No Woman No Cry, both by Bob Marley; Wild Cherry, Parliament, Marvin Gaye and Al Green belong in here too. I grew up within the broadcast range of Motown’s stations so that probably had an effect. New music… You know even though some of the lyrics are admittedly stupid and some of the images are goddawful I like quite a lot of the hip hop material. Jay-Z, Luda, Juvey, even Fifty. Kanye West also has something to say that rises above a lot of the typical stuff.
Student: Does that explain all the pop culture references that your classes are famous for?
Dr. Stanton: One of the things that I really love to do is to bash down stereotypes. I know that a lot of the references that I toss in to keep the evening classes awake are out of the realm of many of the students. I hope that it opens their eyes a bit though. Besides, it's a lot of fun.
Student: At one point, you had a picture of the Dawson house on your website. What was that about?
Dr. Stanton: I drove past that fire on my way to work that morning. It haunted me for a long time. Hard to explain, but I didn’t want people to stop thinking about ways to stop such horrible things from happening in this town. And still I knew that the images would rapidly be forgotten. Only a year after that fire, students could not tell me what that picture was when I put it up on the screen. It still haunts me. That might be in part because I am a parent and these kinds of things hit parents in a way that is not fully understood by young single people. On my daily commute, I drive through the parts of town where they film The Wire. All of this is just over the tracks from the school. It bothers me that we can’t seem to fix it. Young boys with guns and knives for crying out loud. That’s what most of them are just children with weapons and a completely messed up view of the world.
Student: Does that explain why a finance professor is focusing on obesity research?
Dr. Stanton: Of course. One more paper on yet another parameter to estimate the term structure of interest rates could do a lot for my career mind you, but I don’t believe that it will have near the impact that can be had by convincing politicians to take society’s big problems seriously. I am interested in the whole health care problem and other social problems like violence and all its destructive side effects such as witness intimidation. Obesity is a serious problem because of its social cost and because it is a precursor to so many major health problems such as diabetes and heart problems. It also affects the poor to a greater extent than the rest of the population. Because of the obesity research, I have been extremely lucky to be able to work with the very top research people at this school and elsewhere. And we have gained wide recognition for it. My colleagues and I have been instrumental in getting obesity control legislation passed in states from here to Texas. This is important work. As a state funded institution, I think we have a special responsibility to guide policy. The saddest thing about the obesity problem is that the consequences for the poor are more likely to end in the worst effects of diabetes such as blindness and limb amputations. This is pretty depressing to talk about in this interview, isn’t it?
Student: Let me switch to something happier then. I hear that congratulations are in order for you.
Dr. Stanton: Okay, you got me. Congratulations for …. ?
Student: Nominated to Who’s Who Among America’s Teachers.
Dr. Stanton: Oh yeah. That’s neat. I know it probably doesn’t mean a lot, but it makes me smile. I take teaching seriously and this is a nice acknowledgement.
Student: One more question. You are always injecting Hyundai cars and the island, Barbados, into your examples. Why is that?
Dr. Stanton: Since I don’t know where this may end up, I’ll plead
the fifth on the Hyundai thing. In case I, or the school need
Scotty Donahoo’s cooperation in the future, I better leave that for
the classroom {laughing}. Barbados? That one’s easier. My wife is
Bajan. It’s also a nice interesting place and has some features that
make it an interesting example in banking and finance. It has a fixed
exchange rate for example. It also, for reasons that are not
understood, has an ancient banyan tree in the middle of it that
predates known exploration from the east.
Banyan trees aren’t found anyplace else west of Africa.
You probably didn’t know that