Economist Global MBA Ranking (Top 20)

The Economist Global MBA Ranking of 2007 marked a significant moment in the evolution of business school rankings. While the usual suspects, such as the University of Chicago Graduate School of Business (GSB), Stanford University GSB, and Dartmouth College’s Tuck School of Business, remained prominent, the 2007 list was notable for several key shifts in positioning, indicating broader trends in the global business education landscape. In particular, the rise of the University of Chicago GSB to the top spot, surpassing established leaders like Stanford and IESE, reflected growing shifts in MBA program quality, focus, and the evolving preferences of students and employers.

For those following MBA education closely, the Economist ranking is particularly insightful because it prioritizes factors that are often overlooked in more traditional rankings, such as the potential return on investment, the diversity of the student body, and the extent to which the program prepares graduates for leadership positions in the global economy. As such, the 2007 rankings not only offer a snapshot of the top programs in the world but also provide a glimpse into the larger forces shaping the future of business education, from the globalization of industry to the increasing emphasis on leadership development.

University of Chicago Graduate School of Business

The most striking change in the 2007 Economist Global MBA Ranking was the rise of the University of Chicago GSB to the top position. In 2006, Chicago had been ranked fourth, but by 2007, it had surpassed longstanding leaders such as Stanford University and IESE Business School. Chicago’s ascent was a testament to the school’s growing reputation and its ability to adapt to the changing demands of business education. The GSB's emphasis on analytical rigor, quantitative skills, and its deep connection to the world of finance and economics had long been its hallmark, but the school’s ability to innovate and refine its curriculum made it increasingly appealing to MBA candidates worldwide.

Chicago's MBA program had undergone significant changes in recent years, underpinned by its emphasis on data-driven decision making and a commitment to developing leaders who could excel in complex, global business environments. The school’s focus on leadership development, ethical decision making, and the application of economics in business strategy was seen as a key differentiator. The rise of Chicago’s reputation in areas such as financial engineering, entrepreneurship, and strategic leadership reflected a broader trend where top-tier business schools were adapting their programs to meet the demands of an increasingly interconnected and data-driven world.

The school’s faculty also played a major role in its rise, with renowned scholars in economics, finance, and business strategy bolstering its academic credibility. Chicago’s unparalleled strength in quantitative analysis and its emphasis on creating actionable knowledge for the global marketplace contributed to its reputation as a powerhouse in business education. Moreover, Chicago’s international outreach and its ability to attract students and faculty from diverse backgrounds made it an ideal institution for developing future business leaders. The school’s top placement in the 2007 Economist ranking was a reflection of its continued focus on academic excellence, a robust alumni network, and a student body that increasingly valued intellectual rigor and practical application.

Stanford University Graduate School of Business

Stanford University GSB, ranked second in the 2007 Economist Global MBA Ranking (down from first in 2006), continued to be a dominant force in global business education. While it lost its top position in 2007, it remained one of the most prestigious and sought-after programs in the world. Located in the heart of Silicon Valley, Stanford was renowned for its focus on entrepreneurship, innovation, and technology management. The school's emphasis on nurturing entrepreneurial leaders who could build and lead transformative companies made it an attractive choice for individuals looking to make a mark in the world of startups, venture capital, and tech.

Stanford's MBA program had long been celebrated for its innovative curriculum, flexibility, and focus on leadership development. The school's case-based teaching model, combined with its emphasis on experiential learning, provided students with the tools to tackle complex business problems in creative ways. One of Stanford's most notable features was its entrepreneurial spirit, which not only shaped its academic curriculum but also permeated the culture of the entire business school. Stanford graduates often went on to become leaders in Silicon Valley, launching successful ventures or joining the ranks of influential tech companies.

The school’s strong connections to the technology and venture capital sectors further solidified its reputation. Given Stanford's proximity to industry giants such as Google, Apple, and Facebook, students had unparalleled access to some of the most influential leaders in business and technology. Additionally, Stanford's global reach, diverse student body, and international network of alumni contributed to its continued prominence. Despite losing the top spot to Chicago, Stanford’s placement at number two in the 2007 Economist ranking confirmed its status as one of the most influential business schools in the world.

IESE Business School

IESE Business School, based in Barcelona, Spain, held steady in third place in the 2007 Economist Global MBA Ranking, a slight decline from its first-place ranking in 2006. The fact that IESE remained firmly in the top tier of global business schools spoke volumes about the school's consistent focus on international business education and leadership development. One of the key reasons for IESE's continued prominence was its commitment to a globally oriented MBA program, which attracted students from all over the world and helped produce leaders with a keen understanding of global business dynamics.

IESE’s unique position in the European market, combined with its focus on developing ethical leaders and its strength in areas such as general management and strategy, made it a top choice for international students. The school’s strong ties to multinational companies across Europe, coupled with its global campus offerings in cities such as New York and São Paulo, made it a prime destination for students looking for a truly international business education.

The school’s leadership focus and ethical management principles set it apart from other institutions, making it a leader not only in Europe but also in the broader global business education ecosystem. Despite falling from the top spot, IESE’s emphasis on values-based leadership, combined with its stellar academic credentials, ensured its place among the world’s best business schools.

Dartmouth College (Tuck School of Business)

Dartmouth College’s Tuck School of Business, ranked fourth in the 2007 Economist Global MBA Ranking, represented another strong U.S. institution that had maintained its position of excellence. Tuck, known for its tight-knit community and emphasis on teamwork and leadership, had long been one of the top MBA programs in the U.S. The school’s rigorous academic environment, combined with its commitment to personal development, made it an appealing option for candidates seeking a comprehensive business education with a strong focus on collaboration and leadership.

Tuck’s approach to education was distinctive for its emphasis on developing well-rounded leaders who could excel in any business environment. With a relatively small cohort size compared to some of the other top schools, Tuck offered a highly personalized education that allowed students to develop close relationships with professors and peers. The school’s reputation for producing graduates with strong leadership and interpersonal skills contributed to its continued success in the rankings, despite its relatively lower international visibility compared to its larger counterparts.

IMD

IMD, located in Switzerland, ranked fifth in the 2007 Economist Global MBA Ranking, maintaining its position from the previous year. IMD’s reputation as one of Europe’s premier business schools was reinforced by its strong focus on leadership development, entrepreneurship, and international business. The school’s small, highly selective MBA program catered to mid-career professionals who wanted to enhance their leadership capabilities and broaden their global business perspectives. IMD’s emphasis on practical, real-world learning and its ability to attract students from diverse backgrounds made it a highly respected institution in global business education.

IMD’s focus on executive education and its deep ties to multinational corporations helped it maintain its strong position in the ranking. As European businesses increasingly sought managers with global experience and cross-cultural leadership abilities, IMD’s reputation for providing an international perspective became more appealing. The school’s emphasis on small class sizes, personalized attention, and hands-on learning further differentiated it from larger, more traditional MBA programs.

UC Berkeley (Haas) and Other Schools

UC Berkeley’s Haas School of Business, which jumped to sixth place from tenth place in 2006, demonstrated the increasing influence of top-tier public institutions in the U.S. Haas’s reputation for innovation, entrepreneurship, and leadership development made it a compelling option for students interested in creating their own ventures or entering industries such as technology, finance, or consulting. Haas’s strong ties to the tech ecosystem in the San Francisco Bay Area, coupled with its focus on values-based leadership and social responsibility, made it a standout institution in the global rankings.

The 2007 Economist Global MBA Ranking also highlighted the continued rise of schools outside of the traditional U.S. powerhouses. Programs such as IESE and IMD, which had a stronger European and global focus, were increasingly attracting candidates seeking a global perspective on business education. Economist Global MBA Ranking 2007

Rank in 2007, Rank in 2006, School, Country
1 4 Uni of Chicago GSB US
2 3 Stanford Uni GSB US
3 1 IESE Business School Spain
4 2 Darmouth College (Tuck) US
5 5 IMD Switzerland
6 10 UC Berkeley (Haas) US
7 11 Uni of Cambridge (Judge) UK
8 8 New York Uni (Stern) US
9 16 IE Business School Spain
10 14 Henley Management College UK
11 19 Cranfield School of Management UK
12 9 Univ of Michigan (Ross) US
13 7 Harvard Business School US
14 6 Northwestern Univ (Kellogg) US
15 20 London Business School UK
16 18 MIT (Sloan) US
17 N/A Insead France/Singapore
18 12 Columbia Business School US
19 N/A Ashridge UK
20 N/A HKST China

Source: Economist