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In my case, i once took a prof who graduated from U Chicago, and although his math skills were probably excellent, his english was terrible, and although he had published work on health economics, his knowledge about real world health issues seemed minimal. His class consisted of rote-memorizing how to solve problems and proofs and then regurgitating them on exams. I assumed that must have been how he was "trained" at Chicago.
Even so, If Chicago was the only top 20 school I had a shot at, I'd seriously consider it b/c of the faculty and reputation.
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