Tuesday, April 8, 2008

US News Graduate Economics Programs Rankings

http://grad-schools.usnews.rankingsandreviews.com/grad/eco/search

Here they are - they seem a bit out of date somehow given some recent faculty movements and, of course, they ignore heterogeneity by field which matters a lot for some things. You would not come to Ann Arbor to write a theoretical econometrics thesis and you would not go to Minnesota to write a micro-labor economics thesis for example, despite the overall rankings. This is but a special case of the main issue with rankings such as these in my view, which also applies at the undergraduate level, which is that the "within" variation in treatment effects is quite large relative to the between variation. This does not mean that rankings do not matter; it does mean that a lot depends on the particular match between the student and his or her dissertation committee and between the student's interests and the particular strengths and weaknesses and personality quirks and so on of a given department.