QS Ranking for Top Universities: Economics 2019

Different international rankings for top universities in the world in different academic fields are announced annually by various institutions and relevant bodies.

Quacquarelli Symonds (QS) World University Rankings is considered as one of the three most influential university rankings in the world, along with the Times Higher Education World University Rankings and the Academic Ranking of World Universities.

QS is on operation since 2004 as the only international ranking approved by the International Ranking Expert Group (IREG).

The Times Higher Education, in partnership with Quacquarelli Symonds, publishes a list of the world’s top 200 universities (named QS World University Rankings) each year.

It annually introduces top universities in each field, based on six main indicators that are allocated different weightings:

QS Indicators

• Academic reputation (40%): This indicator is weighed the highest in QS ranking and is determined by expert opinions about the quality of teaching and research at a given university, by over 94,000 individuals in the higher education. This indicator contributes 40% to the overall rankings score.
• Employer reputation (10%): This indicator is weighed according to 45,000 responses to QS Employer Survey, to inform the students who are looking for the best universities around the world whether they will receive valuable preparation for the employment market. This indicator contributes 10% to the overall rankings score.
• Citations per faculty (20%): This indicator is scored by dividing the total number of citations during a five-year period by the number of academicians in a university. This indicator contributes 20% to the overall rankings score.
• Faculty/student ratio (20%): This indicator is scored by dividing the number of students who attend a school or university by the number of teachers. This indicator contributes 20% to the overall rankings score.
• International faculty ratio (5%): This indicator is scored according to the ability of any university, school or institution to attract students from other nations to prove it possesses a strong international brand. This indicator contributes 5% to the overall rankings score.
• International student ratio (5%): This indicator is scored according to the ability of any university, school or institution to attract staff and faculty members from across the world. This indicator contributes 5% to the overall rankings score.

Thanks to the holding of the 4th International Conference on New Directions in Business, Management, Finance, and Economics by the Canadian Institute for Knowledge Development (CIKD) in Turkey, in February 2020, I decided to write about QS’ latest university rankings, to introduce world’s top universities in the field of economics:

Top 10 Universities for Economics in North America

USA continues to dominate the list of best universities for Economics, with Harvard University taking the top spot, claiming over 100 top economic schools in the QS ranking in 2019. Canada is home to a total of 18 institutions in the field.

Top 10 Universities for Economics in Europe

QS has ranked 200 of the best universities for economics in Europe, 48 of which are in the UK.

Top 10 Universities for Economics in Asia/Oceana

China is the leading country in Asia this year in the list of QS’ top universities for economics, with Peking University and Tsinghua University in the top 50. In Oceana, Australia is home to 22 of the world’s top universities for economics.

Top 10 Universities for Economics in Latin America

The Latin American region is home to 26 top economic schools in total, with the majority based in Brazil (eight) and five in Colombia.

Top 10 Universities for Economics in Africa/Middle East

Heading to Africa, South Africa has five entrants, including the University of Cape Town, which moved up from 251-300 to rank in the 201-250 range.