Based on the jobs, following the graduation, Amir and Knauff (2005) composed the global ranking of economics departments. The central core of the methodology which authors apply to the research experiment, is that the sum of the value of PhD graduates reflects the value of their current employing departments. The authors derive solutions (scores) from linear system of values from simultaneous equations. Further, the authors adapt Liebowitz-Palmer method in the context of academic ranking which is essential for measuring the competitive ranking of economics departments. According to rankings based on full sample, undiscounted normalized score and 98 percent discounted normalized score, Harvard University Economics Department scored the best. In terms of truncated-sample normalized score, based on the data of PhD graduates from 1990 onwards, MIT Department of Economics came on top of the scale.
Sources:
Rabah AMIR, Malgorzata KNAUFF: Ranking Economics Departments Worldwide on the Basis of PhD placement, Univesite de Louvain
Prof. Greg Mankiw: Ranking Econ Departments, Saturday, June 30, 2007
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