23, No. 9, Nov. 6, 2003
Arnould splits retirement between
Sharita Forrest, Assistant Editor
(217) 244-1072; email@example.com
by Bill Wiegand
Although Richard Arnould retired from the department
of economics in January, he is teaching two classes
on campus this semester. However, Arnould plans to
spend the upcoming winter and spring months at the
condominium he and his wife, Carol, own in Sanibel
Island, Fla. In addition to teaching, Arnould is director
of the Program in Health Economics, Management and
Policy; is co-editing a journal; and is organizing
a domestic health-economics organization.
Shortly after economics
professor Richard Arnould officially retired in early January, he and
his wife, Carol, joined the ranks of the “snowbirds,” those
retirees who migrate to warmer climes for portions of the year. The
Arnoulds fled the Illinois winter of early 2003 for the white sands
and balmy breezes of Sanibel Island, Fla., where they own a condominium.
They hope to make another sojourn there for the upcoming winter and
But Richard Arnould returned to campus for the fall semester to do something
he loves: teach. Arnould, whose specialty is health economics, is teaching
courses in health economics and microeconomic theory this semester.
“We really have influence on people when we teach,” Arnould
said. “There are great rewards when a student comes back and says,
‘Gee, you motivated me to study economics’ or if they go
into business or law school and say, ‘Gee, I thought economics
was a useless thing to take but it really did have some value.’
Motivating people about economics is an exciting thing. It’s really
what turns me on.”
Arnould joined the Illinois faculty in 1967. During his career, he held
appointments as head of the economics department, associate dean of
the College of Commerce and Business Administration and director of
the college’s Office of Research.
But after 35 years in teaching, research and administration, retirement
began to look appealing, especially since Carol had been retired for
several years from her interior design business and several of Arnould’s
friends were retiring too.
“I clearly was going to step down from being department head,”
Arnould said. “I’d had enough of the high pressure. Financially
as well as emotionally it was the thing to do.”
Although Arnould may teach again during the fall 2004 semester, he has
decided that one semester each year is sufficient, and during the rest
of the year he plans to indulge his interests in golf and flower gardening.
Avid travelers, the Arnoulds have visited Europe several times and hope
to take some type of trip next summer, although their destination is
Before coming to Illinois, Arnould earned his bachelor’s, master’s
and doctoral degrees in economics at Iowa State University. In his research,
Arnould examined the effects of government regulation on markets, including
analyses of government-sponsored vaccine programs for children, auto
safety-regulations and issues related to long-term care. An affiliate
of the College of Medicine and the Institute for Government and Public
Affairs, Arnould has been a consultant to various law firms and a local
hospital, the American Hospital Association and the Illinois Bar Association
among others. In 1974, the U.S. Department of Justice honored him with
its Outstanding Service Award.
Still very active professionally despite his retirement, Arnould remains
director of the Program in Health Economics, Management and Policy and
co-editor of the Quarterly Review of Economics and Finance.
In addition, he is founding a domestic health-economics organization
under the auspices of the International Health Economics Association.
The as-yet unnamed organization will be analogous to the professional
organizations already in existence in Australia, Canada and Europe.
“There’s a huge demand for people to give papers and interact
with one another on a domestic level,” Arnould said. “But
many people can’t afford to go to Europe or Asia for the international
association’s meetings very frequently. Our initial meeting probably
will be in Madison, Wis., in 2006, and we anticipate having 800 to 1,000
people in attendance.”