Conservative teacher retires from institute and school in The Emergency (6)
I believe the answer is:
crisis
'school in the emergency' is the definition.
'crisis' can be an answer for 'emergency' (a crisis is an emergency). I'm unsure of the 'school in the' bit.
'conservative teacher retires from institute' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'teacher' becomes 'sir' (way of addressing a male teacher).
'retires' is a reversal indicator.
'from' means one lot of letters go next to another.
'institute' becomes 'is' (I can't justify this - if you can you should believe this answer much more).
'sir' backwards is 'ris'.
'c'+'ris'+'is'='CRISIS'
'and' is the link.
Can you help me to learn more?
(Other definitions for crisis that I've seen before include "Time of intense difficulty or danger" , "Crucial stage in a series of events" , "crucial period" , "unstable period" , "Climax, breaking point" .)