Times Higher Education (THE) has released the World University Rankings 2024 by subject, revealing a greater diversity of universities and countries excelling in various fields. While US and UK institutions continue to dominate the top positions, there is a notable change in the top 10 rankings for business and economics. Two Chinese universities, Tsinghua and Peking, have secured spots in this elite group, a significant shift from five years ago when only US and UK universities held those positions. In fact, China has doubled its presence in the top 10, with Peking University rising from 15th to 10th place, marking its first entry into the top 10, while Tsinghua University maintains its position at 8th.
In the United States, Harvard University has moved from 4th to 3rd place this year. However, the London School of Economics and Political Science has fallen to the 11th position after ranking 10th last year.
Furthermore, this year's rankings also feature the University of Reading and the University of Massachusetts, both making significant strides by entering the top 100. They now stand at 79th and share the 80th position, respectively, after being in lower bands (101-125 and 126-150) in the previous rankings.
Here are the world's top 10 business and economics universities:
- Massachusetts Institute of Technology (United States)
- Stanford University (United States)
- Harvard University (United States)
- University of California, Berkeley (United States)
- University of Cambridge (United Kingdom)
- University of Oxford (United Kingdom)
- The University of Chicago (United States)
- Tsinghua University (China)
- Yale University (United States)
- Peking University (China)
In the rankings, 18 different measures have been used to assess how well universities perform. These measures are grouped into five categories:
- Teaching quality and the classroom experience account for 30.4 per cent of the ranking.
- The amount of research conducted, the money earned from it, and the reputation of the research environment make up 31.6 per cent.
- The quality, impact, and excellence of research are the main focus, contributing 25 per cent.
- A global perspective, which considers the international makeup of staff, scholars, and research, is worth nine per cent.
- Industry engagement, as seen through revenue and patents, accounts for four per cent.
