When Professor Emeritus of Economics Bill Schaffer, IM 56, lived in Towers dormitory as a student in 1952, the interstate highways had not yet cut their way through Atlanta. The only nearby TVs were at the Varsity. And the student center was just a patch of kudzu.
A lot has changed since Schaffer first came to Georgia Tech more than 60 years ago. He’s watched the Institute—and the city of Atlanta—grow tremendously during the decades he’s spent on campus as a student and faculty member. And through it all, Schaffer remains a proud Yellow Jacket, this year celebrating an illustrious 50th anniversary of teaching at Tech.
“If I had a motto, it would be to never let an opportunity go by,” Schaffer says.
One of those opportunities came when he and some of his high school friends from Monticello, Ga., hitchhiked their way to Macon to take a Navy ROTC entrance exam. Though his friends didn’t make the cut, Schaffer did, and he enrolled at Georgia Tech the following year.
After “getting out” with a bachelor’s in industrial management, Schaffer served as a pilot in the U.S. Marine Corps and went on to earn a doctorate in economics from Duke University before returning to Tech to teach in 1964. Schaffer says teaching has been—by far—his favorite part of being a professor.
Early in his career at Tech, Schaffer went out of his way to get to know his students, and he interacted with them as much as possible. It’s a tactic that made him a perennial favorite among Tech’s student body. In 1988, he was named Faculty of the Year by the Student Government Association.
“Bill’s longevity at Tech is a true accomplishment and a testament to his love of teaching,” says David Laband, chairman of Tech’s School of Economics. “He loves the subject of economics and he’s passionate about it. I think it infuses his life with great purpose.”
Schaffer also has a soft spot for students with poor grades. He says he’s learned that it’s often his worst students who go on to be the most memorable, and ultimately, successful. “You never judge a guy by what he looks like or acts like, especially in class,” Schaffer says.
In 1966, a student with less than stellar test scores came to Schaffer with a unique opportunity. That student introduced Schaffer to the president of the Atlanta Braves, the city’s then-new major league baseball club, who hired him to study the economic impact of the baseball team on the city.
“This was the beginning of my career as a consultant,” Schaffer says. After that first study, Schaffer went on to examine the economic impact of sporting and cultural events in Hawaii, Nova Scotia, Conneticut and Montreal. Today, Schaffer is still active in the field, analyzing the impact of the arts in the U.S. and golf in Canada.
In addition to being an anchor of the economics department, Schaffer has also volunteered countless hours around campus. He served for 20 years as an adviser for Beta Theta Pi, the fraternity he belonged to as an undergraduate, back in the days when fraternity dances required chaperones. He still serves as an emeritus adviser and is sometimes invited to teach the young Betas lessons in etiquette.
As a member of the Georgia Tech Athletic Association’s Board of Trustees for more than 20 years, Schaffer has made many memories following his beloved Yellow Jackets. Among his favorite are the two times he took his sons to watch the men’s basketball team compete in the NCAA Final Four.
And if that weren’t enough engagement, each fall, the Schaffers invite Bill’s students to their home for what’s known as a “Peach Party,” where they are treated to his famous homemade peach ice cream.
Laband said he’s amazed by how committed Bill and Lee Schaffer are to Georgia Tech. “I’ve never seen anything like it in my career,” he says. “They are so woven into the fabric of the university.”
One of Bill’s strengths as a teacher, according to his wife, is that he understands students are often overloaded with classes and activities. “Sometimes, professors won’t realize students have lives outside their class, but he does,” she says.
Laband says when he approached Schaffer about naming a chaired professorship in his honor, Schaffer thought about it but turned it down, asking instead to create an endowed student scholarship. That’s pretty typical of Schaffer: For 50 years, he has always put his students first.
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Congratulations on your 50 years teaching at Ga Tech from your “student with less than stellar test scores”.
I took an Economics course from Prof. Shaffer in the mid 60’s. I was one of those weaker students mentioned here. I also went on to be an aviator in the USMC. I did not know that about Prof. Shaffer at the time. I also was privileged to have an excellent relationship with Dean James Dull, the Dean of Students at the time. Both of these gentlemen made an impression on me and provided great service to the Institute.
Bill Schaffer taught me economics and I worked with him on an economic consulting project while I was a student. I very much appreciated his style and, 40 years later I am surprised to find that he is still teaching. What a great man and what a great thing for 4 decades of students.
Bill Schaffer and Carl Biven where the two professors who led me to a lifelong fascination with Economics. I thank them very much.
Bill Schaffer is one of the few Tech professors in the Industrial Management school that I fondly remember. He was my student adviser, 1962-68. As I am sure many would say, if it had not been for Dr. Schaffer’s keen personal interest, understanding and advice I would not be the proud Tech grad I am today ! God bless and keep you, sir.
An excellent story about one of Tech’s finest professors. I was fortunate to have Dr. Schaffer at the Undergraduate and Graduate levels. You could sense his concern for helping students master his course of instruction. Many years later I learned that I followed his footsteps, to a degree, in Marine Corps Aviation. Semper Fidelis, Dr. Schaeffer!