Having in mind that student achievement and interest in subject are some of the most important educational goals, and that quality of teaching is the crucial schooling factor influencing them, we examined the contribution of teacher-level variables from the dynamic model of educational effectiveness to student achievement and interest in mathematics and biology. The representative sample included 5,476 students from 125 elementary schools in Serbia and 5,021 parents. Data on student and teacher variables were collected through student and parent questionnaires, while data on prior and current achievement were comprised from students' Trends in International Mathematics and Science Study (TIMSS) 2011 scores and national examination results, respectively. Data were analyzed using multilevel modeling. The results indicate that teacher factors from the dynamic model did not impact student achievement in mathematics and biology but influenced student interest in both subjects. We offer recommendations for educational policy and directions for further research.