5 best universities in the world for Business and Economics
The cream of the crop in business and economics education. Source: Unsplash

The Times Higher Education (THE) World University Rankings for 2019 were recently released, revealing the top ranked universities by subject.

THE‘s methodology in determining these ranking uses 13 carefully-selected performance indicators which then provide comprehensive and balanced comparisons. The rankings have been audited by PricewaterhouseCoopers (PwC), making them the only global university rankings subjected to independent scrutiny.

Here are the top 5 universities for Business and Economics.

1. Massachusetts Institute of Technology (MIT)

Source: Shutterstock

MIT is located in Cambridge, Massachusetts in the US. The private research university was established in 1861 and is known for its technological breakthroughs and scientific discoveries, receiving several awards, Nobel Prizes and other coveted accolades.

The ranking for Business and Economics was based on an evaluation of both the MIT Department of Economics (housed in the MIT School of Humanities, Arts, and Social Sciences), and the MIT Sloan School of Management.

The Department of Economics has won nine Nobel Prizes over the years while the MIT Sloan faculty has won two, and both are powerhouses in their respective fields.The MIT Sloan School of Management churns out entrepreneurs year after year, going on to establish companies that have created million of jobs, generating close to US$2 trillion a year in revenue.

MIT’s campus environment is also noteworthy, spreading over 168 acres with 18 student residences, 26 acres of playing fields, 20 gardens and green areas, and over 100 public works of art.

2. Stanford University

Source: Shutterstock

Founded in 1885, Stanford University is located in Silicon Valley, California. A household name, Stanford is a global leader, known for high academic, teaching and research standards. Stanford’s campus is one of the largest in the United States, covering 8,180 acres with 18 interdisciplinary research institutes and seven schools.

Ever since its inception, the university has emphasised health and well-being, as the school was founded to “promote the public welfare by exercising an influence on behalf of humanity and civilization”. One of Stanford’s most prominent achievements was the first successful heart-lung transplant.

Recently, Stanford University was also ranked no.1 among US business schools in the 2018 Bloomberg Businessweek survey. The survey was based on responses from 26,699 MBA students, alumni and recruiters, as well as compensation and job-placement data from each school.

3. The University of Oxford

Source: Shutterstock

Commonly referred to as ‘Oxford’, this is the oldest university in the English-speaking world, with evidence that teaching took place as far back as 1096! The exact founding date is unknown. The school has over 100 libraries, and 44 colleges and halls. The institution prides itself on its diverse student population and faculty, in which 40 percent of the total 22,000 students are international.

It was recently reported that Oxford’s Saïd Business School plans to spend approximately £60m (US$76,613,160) to expand and convert the city’s Victorian power station into a luxury hotel-style campus for students; also a space where they can conduct residential training courses for senior executives. It’s expected to be completed in 2020, and will position Oxford as a global leadership centre.

4. University of Cambridge

Source: Shutterstock

The University of Cambridge in England has a large student population of 18,000, including 4,000 international students. The public research institution was founded in 1209 and it is the fourth-oldest surviving university in the world.

The prestigious university houses six schools: Arts and Humanities, Biological Sciences, Clinical Medicine, Humanities and Social Sciences, Physical Sciences and Technology, and is home to over 100 libraries. Furthermore, there are nine arts, science and cultural museums and a botanical garden on the property, all of which are open to the public.

5. Duke University 

Source: Shutterstock

Located in North Carolina, US, Duke University is a private research institution founded in 1838. It was originally called Trinity College and only became Duke University in 1924. Duke University encompasses 10 schools and colleges, and is also well-known for its outstanding achievements in sports and performance art.

The university is highly competitive, as only 11.4 percent of applicants received a place for the Class of 2019 cohort. In November, it was reported that the Duke University Fuqua School of Business is stringent in its acceptance of students, looking for learners who are not only well-rounded, but also display “triple threat capability leadership”, a combination of IQ (raw intelligence), EQ (emotional intelligence) and DQ (decency quotient).

For the full list of World University Rankings 2019 by Times Higher Education for Business and Economics, please click here.

Liked this? Then you’ll love…

Rankings explained: What do rankings really mean for students?

US News Rankings: The top 10 universities in each global region