Ranking: World’s Best Universities For Business & Economics by: Kristy Bleizeffer on July 22, 2024 | 15,658 Views July 22, 2024 Copy Link Share on Facebook Share on Twitter Email Share on LinkedIn Share on WhatsApp Share on Reddit Another month, another ranking to tell us that Harvard University is pretty good at business education. U.S. News & World Report has updated its Best Global Universities Rankings for 2024-2025 and, along with it, how those universities ranked in 51 different subject areas, including Economics and Business. It’s not a huge surprise that some of the top universities in the world also have best-in-class business programs. In fact, the home universities to almost all of the M7s (the so-called Magnificent 7 of business schools) are right there at the top. The only exception is University of California-Berkeley (home to Haas School of Business which is not an official M7) which ranked No. 5, taking the place of Northwestern University (home to Kellogg School of Management, most definitely an M7) which ranked No. 13 worldwide. In fact, eight of the dozen universities that made it into U.S. News’ top 10 (including a three-way tie) are located in the United States. And all of them have superb business schools to match. U.S. News’ Top 10 Finishers (Economics & Business) Rank School Name Country 1 Harvard University United States 2 Massachusetts Institute of Technology (MIT) United States 3 University of Chicago United States 4 Stanford University United States 5 University of California–Berkeley United States 6 Columbia University United States 7 University of Pennsylvania United States 8 London School of Economics & Political Science United Kingdom 9 Monash University Australia 10 Erasmus University Rotterdam Netherlands 10 National University of Singapore Singapore 10 New York University United States A MEASURE OF BUSINESS & ECONOMICS RESEARCH This particular ranking doesn’t distinguish between undergraduate degrees, MBAs, or master’s programs, but looks at the universities’ business and economics research and reputation. U.S. News starts with its Best Global Universities Ranking of 2,250 of the world’s top institutions. It then further ranks those according to 51 different subject areas ranging from environmental engineering to microbiology, from arts and humanities to artificial intelligence. Business and Economics is just one of those subject areas. Considering the United States’s dominance in business education, it’s not really a surprise that it landed the most universities in the top 100 at 33 – including the seven most highly ranked. But, if you’re a U.S. student considering studying abroad, there are plenty of great universities that excel in business and economics. China has the second most universities on the list at 18 (including four in Hong Kong), followed by the United Kingdom with 14, Australia with 11, and the Netherlands with 5. Switzerland and Singapore each have three universities while France, Italy, and Canada have two apiece. To measure each school’s research reputation in business and economics, U.S. News surveys academics and researchers who are asked to identify the institutions they believe conduct the best research in the field, according to the ranking methodology. (This is very similar to U.S. News’ methodology of ranking undergraduate business schools, which is mainly a measure of what business schools and faculty think about other business schools.) This ranking also considers bibliometric data – data derived from the books, articles, and other publications authored by university faculty – to measure productivity and impact of research output. Metrics include the total number of publications and citations, the number and percentage of publications among the top 1% and 10% most cited, as well as research collaboration with other institutions. For economics and business, the ranking looks at journals on the production, distribution and consumption of goods and services as well as strategic planning, decision-making and financial concerns in business. NOT YOUR TYPICAL B-SCHOOL RANKING These subject-specific rankings are not rankings of academic majors, departments, or specific schools at the universities, but of the university’s research performance and reputation in those areas. So, this ranking is not even a ranking of business schools per se, and several of the top-ranked universities don’t even offer undergraduate business degrees. They instead have among the best MBA programs in the world. If you are a prospective college student looking for a top-notch undergraduate business school, there are plenty of rankings out there to help you do that. Check out P&Q’s own ranking of the Best Undergraduate Business Schools in the U.S. Ours measures business schools on data collected from both institutional and alumni surveys, and collects all the data prospective students care about the most: Tuition, employment and internship rates, graduates’ first-year salaries and bonuses, and how alumni rate their programs. Find all those data stories in our rankings tab. Or you can go back to U.S. News’ specific ranking of the Best Undergraduate Business Programs Of 2024 or even Princeton Review’s top 50 undergraduate programs in entrepreneurship. If you do think research output is an indicator for a great business education, you can compare the list on the following pages to another list that ranks business schools according to research. Moral of the story: Take all rankings with a grain of salt. Use them as a way to collect data, and as a validation that schools you’re considering will in fact deliver a solid business degree. But, as always, gauge your final decision on the factors that are most important to you. Flip through the following pages to see U.S. News’ Best Global Universities for Economics & Business. U.S. News’ Global University Rankings (Economics & Business) Economics & Business Rank School Name Country Global Universities Rank Subject Score 1 Harvard University United States 1 100.0 2 Massachusetts Institute of Technology (MIT) United States 2 94.3 3 University of Chicago United States 25 92.4 4 Stanford University United States 3 91.9 5 University of California–Berkeley United States 5 91.5 6 Columbia University United States 9 83.0 7 University of Pennsylvania United States 14 82.5 8 London School of Economics & Political Science United Kingdom 239 81.4 9 Monash University Australia 35 80.3 10 Erasmus University Rotterdam Netherlands 70 78.4 10 National University of Singapore Singapore 22 78.4 10 New York University United States 32 78.4 13 Northwestern University United States 24 78.3 14 Yale University United States 10 77.8 15 University of Cambridge United Kingdom 6 77.7 15 University of Oxford United Kingdom 4 77.7 17 Tsinghua University China 16 77.2 18 Princeton University United States 18 76.8 19 Copenhagen Business School Denmark 635 75.6 20 Montpellier Business School France Unranked 74.6 21 Peking University China 31 73.9 22 Boston University United States 73 73.6 23 Southwestern University of Finance & Economics China 474 73.3 24 University of Michigan United States 19 71.6 Next page: U.S. News’ Best Global Universities for Economics & Business, No. 25-49 Continue ReadingPage 1 of 4 1 2 3 4