An objective ranking of economics departments worldwide in terms of graduate education is derived. The central idea is that the value of a department is the sum of the values of its PhD graduates, as reflected in the values of their current employing departments. The scores are thus derived as solutions to a linear system of simultaneous equations in the values. The sample includes the top fifty-four departments, the composition of which is determined endogenously using a criterion requiring a minimum of four placements in the departments comprising the sample. Two other related rankings are proposed, which place more emphasis on more recent faculty recruitments. The results point to a very high concentration in the economics PhD education market worldwide, confirming the dominance of the top U.S. departments, in particular of Harvard and M.I.T. Nevertheless, a modest de-concentration trend is under way. The rankings are in close agreement with the 1994 National Research Council survey ranking based on the perceived quality of PhD programs.
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number
2005051.
Find related papers by JEL classification: A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms R32 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Other Production and Pricing Analysis
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