Economics Ranking by The Times (UK)

The study of economics has always been a key discipline within higher education, as it provides the essential tools for understanding the complexities of financial markets, public policy, and global economies. The Times 2009 rankings of the top UK universities for economics offers a comprehensive overview of the institutions that were considered the best at the time in terms of teaching quality, research output, academic reputation, and student satisfaction. The ranking places Cambridge at the top, followed by the London School of Economics (LSE), Oxford, University College London (UCL), and Warwick. These institutions represent the best of the UK’s offerings in economics, each with its own unique strengths and areas of specialization.

At the forefront of this list is the University of Cambridge, which has long been regarded as one of the leading institutions for economics not just in the UK, but globally. With a rich history stretching back to the 13th century, Cambridge has established itself as a centre of excellence in many disciplines, and economics is no exception. The university's economics department is known for its intellectual rigor and its influence on economic thought. Cambridge has produced some of the most prominent economists in history, including John Maynard Keynes, whose ideas on economic intervention and macroeconomic management revolutionized the field during the 20th century. Today, Cambridge continues to attract leading economists from around the world, and its economics program remains one of the most prestigious.

Cambridge’s economics department is known for its strong focus on both theoretical and empirical research. The university’s academic approach to economics stresses the importance of mathematical models and formal reasoning, enabling students to build a deep understanding of economic principles and quantitative techniques. Cambridge’s graduate program is rigorous, and students often go on to make major contributions to the field, whether in academia, government, or industry. The unique tutorial system at Cambridge—where students receive individualized attention from expert faculty—also fosters critical thinking and intellectual independence. As a result, Cambridge consistently ranks among the top universities globally in economics.

In second place on the 2009 Times list is the London School of Economics (LSE), which is another institution with an outstanding reputation for economics. Unlike Cambridge, LSE is a specialist institution, solely focused on the social sciences, and it has gained a reputation for being at the forefront of economics research and teaching. Established in 1895, LSE has produced numerous influential economists, including Nobel laureates such as Amartya Sen, George Akerlof, and Peter Diamond. The department’s research spans a wide range of fields, including microeconomics, macroeconomics, development economics, and political economy. One of the hallmarks of LSE’s economics program is its emphasis on empirical research and its commitment to solving real-world economic issues.

LSE’s location in the heart of London offers a unique advantage. It provides students with unparalleled access to global financial institutions, government bodies, and international organizations. This proximity to key economic actors means that LSE students often find themselves in an ideal position to engage with high-level economic policy debates, internships, and collaborative research projects. The university’s international reputation and diverse student body also contribute to its prominence, as it brings together people from all corners of the globe to share ideas, perspectives, and research on economic issues.

Third on the list is the University of Oxford, another historic institution that has long been recognized as one of the world’s top universities. Oxford’s economics department has produced many leading economists, and its curriculum is renowned for its academic rigor. Like Cambridge, Oxford has a strong focus on theoretical economics, but it also places a significant emphasis on the practical application of economic models and principles. The university’s economics program is interdisciplinary, allowing students to draw from other departments such as politics, philosophy, and law, which enriches their understanding of economics as a social science. The department is known for its work in macroeconomics, development economics, and public finance, among other fields.

Oxford’s tutorial system, which is unique to the university, allows students to work closely with expert faculty members in small groups or one-on-one sessions. This personalized instruction ensures that students receive a high level of academic support and can develop their ideas in a supportive yet challenging environment. Oxford’s economics department is also closely involved in policy research, and many of its graduates go on to influential roles in academia, government, and international organizations.

Ranked fourth in the 2009 Times rankings is University College London (UCL), which has gained a reputation for its strong economics department and its emphasis on interdisciplinary research. UCL’s economics program is known for its academic rigor and its commitment to exploring the relationship between economics and other social sciences. The university is particularly renowned for its research in microeconomic theory, game theory, and behavioral economics, but it also offers students the opportunity to specialize in other areas such as international economics and development economics. UCL’s economics department is home to a diverse and distinguished faculty, many of whom have contributed extensively to the advancement of economic theory.

UCL’s location in central London offers students access to a wide range of opportunities, both in terms of academic resources and professional connections. The university is home to a number of leading research centres and institutes, many of which focus on the intersection of economics with other disciplines such as political science, law, and sociology. UCL’s emphasis on interdisciplinary learning allows students to approach economic issues from a broader perspective, ensuring they are well-equipped to tackle complex global challenges.

The University of Warwick, ranked fifth in the 2009 Times list, is another institution that has established itself as a leader in economics education. Warwick’s economics department is known for its strong focus on applied economics, econometrics, and policy analysis, making it an attractive option for students interested in the practical aspects of economics. The department’s research spans a range of areas, including labor economics, industrial organization, and macroeconomics, and Warwick is home to a number of leading economists whose work is widely respected both in academic circles and by policymakers.

Warwick has also gained a reputation for its international outlook, with many of its students and faculty members coming from outside the UK. The university’s emphasis on quantitative methods and its focus on producing high-quality empirical research ensure that Warwick remains one of the most respected economics departments in the country. Warwick’s strong connections with the business community and public policy organizations in the UK also give its students valuable opportunities for internships and research collaborations.

In sixth place is Durham University, another respected institution with a growing reputation for economics. Durham’s economics department is known for its focus on applied economics and its emphasis on developing students’ quantitative skills. The department’s research is diverse, with strengths in areas such as development economics, international economics, and environmental economics. Durham’s economics program is characterized by its rigorous approach to both theory and practice, and the university’s faculty members are involved in research that addresses key global issues such as climate change, poverty, and inequality.

The University of Birmingham, ranked seventh, offers a strong economics program that combines theoretical learning with practical applications. Birmingham’s economics department has particular strengths in areas such as financial economics, labor economics, and regional development. The university’s emphasis on research and policy analysis ensures that its students are well-prepared for careers in both academia and the private sector.

The University of Nottingham, ranked eighth, is another leading institution for economics. Nottingham’s economics department is known for its work in development economics, environmental economics, and health economics. The department places a strong emphasis on empirical research, and its faculty members regularly contribute to leading academic journals. Nottingham’s commitment to producing well-rounded graduates with the skills necessary to succeed in a wide range of careers has helped the university maintain its reputation as one of the top economics schools in the UK.

The University of Bristol, ranked ninth, is another respected institution with a strong economics department. Bristol’s economics program offers students the opportunity to specialize in areas such as economic history, labor economics, and international trade. The university’s focus on quantitative methods and empirical research ensures that its graduates are well-equipped to tackle complex economic issues.

Finally, the University of Exeter rounds out the top ten in the 2009 rankings. Exeter’s economics department is known for its work in environmental economics, public policy, and development economics. The department has a strong emphasis on applied research, and students are encouraged to engage with real-world economic problems throughout their studies.

In conclusion, the Times 2009 rankings of the top UK universities for economics reflect the continued dominance of institutions like Cambridge, LSE, and Oxford, which have long been recognized as world leaders in the field. However, universities such as Warwick, Durham, Birmingham, and Bristol are also gaining recognition for their strong economics programs and their contributions to advancing economic research and policy. These institutions provide students with a rigorous, well-rounded education in economics and ensure that graduates are equipped with the skills and knowledge to make meaningful contributions to the field.

UK Top 30 Universities in Economics by The Times:
1 Cambridge
2 London School of Economics
3 Oxford
4 University College London
5 Warwick
6 Durham
7 Birmingham
8 Nottingham
9 Bristol
10 Exeter
11 East Anglia
12 St Andrews
13 York
14 Lancaster
15 Bath
16 Loughborough
17 Southampton
18 Glasgow
19 Essex
20 Leicester
21 Kent
22 Edinburgh
23 Royal Holloway
24 Surrey
25 Cardiff
=25 Hull
27 Sussex
28 School of Oriental and African Studies
29 Strathclyde
=29 Leeds

Source: Times Good University Guide 2009