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For the importance of teachers' general academic ability, see R. Ferguson, "Paying for Public Education: New Evidence on How and Why Money Matters," Harvard Journal on Legislation 28 (1991), 465-498.
For more on math and science content knowledge, see D. Monk and J.R. King, "Subject Area Preparation of Secondary Mathematics and Science Teachers and Student Achievement," Economics of Education Review 12, no. 2 (1994), 125-145; R. Murnane, "Understanding the Sources of Teaching Competence: Choices, Skills, and the Limits of Training," Teachers College Record 84, no. 3 (1983)