RAE 2008 - Economics & Econometrics

The Research Assessment Exercise (RAE) 2008 provided a comprehensive evaluation of research quality across various disciplines in UK universities, and its findings offer valuable insights into the institutions excelling in Economics and Econometrics. According to the RAE 2008 rankings for this field, the London School of Economics and Political Science (LSE) was ranked first, with a weighted average of 3.55, reflecting its reputation as one of the premier institutions for economic research globally. LSE’s dominance in Economics is underscored by its long-standing history of producing influential research and being a hub for economists of international renown.

Following closely behind LSE, University College London (UCL) secured the second spot with a weighted average of 3.5, highlighting its strong research output in Economics and Econometrics. UCL’s Economics department is known for its multidisciplinary approach, integrating areas such as political economy, development economics, and economic theory, which contributes to its consistently high rankings in various national and international assessments.

In joint third place, the University of Essex, with a weighted average of 3.35, shares the accolade with the University of Oxford. Essex is widely recognized for its contributions to econometrics and quantitative economics, particularly in the areas of labor economics, microeconomics, and statistical methods. Oxford, on the other hand, continues to be one of the world’s leading centers for economic thought, with a focus on both theoretical and applied economics, alongside a strong emphasis on research in policy and development economics.

The University of Warwick, also with a weighted average of 3.35, shares the third place, reaffirming its status as a leading institution for Economics in the UK. Warwick’s Department of Economics is renowned for its rigorous research in macroeconomics, econometrics, and finance, consistently ranking among the top economics departments in the country.

Other top performers in the RAE 2008 rankings include the University of Bristol, University of Nottingham, and Queen Mary, University of London, each with a weighted average of 3.15, indicating their strong contributions to the field of Economics and Econometrics. Bristol is known for its excellence in applied economics and economic policy, while Nottingham has made significant strides in areas like behavioral economics and economic history. Queen Mary, University of London, while a relatively newer institution compared to others on this list, has garnered recognition for its innovative research in economic theory and econometrics.

The University of Cambridge and the University of Manchester rounded out the top ten with weighted averages of 3.05, reflecting their high-quality research output in economics. Cambridge’s Economics department is one of the most prestigious in the world, with a focus on both theoretical economics and its application to real-world problems, while Manchester is known for its work in development economics, industrial organization, and macroeconomics.

In summary, the RAE 2008 rankings for Economics and Econometrics confirm the dominance of LSE, UCL, and Essex, with other institutions such as Oxford, Warwick, and Cambridge also excelling in the field. These universities demonstrate the UK’s leadership in economic research, with a diverse range of specializations contributing to global knowledge in economics.

Ranking of Top UK Universities for Economics & Econometrics by RAE 2008:

Rank, Name, Weighted Average
1 London School of Economics and Political Science 3.55
2 University College London 3.5
3 University of Essex 3.35
4 University of Oxford 3.35
5 University of Warwick 3.35
6 University of Bristol 3.15
7 University of Nottingham 3.15
8 Queen Mary, University of London 3.15
9 U of Cambridge 3.05
10 U of Manchester 3.05
11 U of Glasgow 3
12 Royal Holloway, U of London 3
13 U of Southampton 3
14 U of Edinburgh 2.95
15 U of Exeter 2.95
16 U of Kent 2.9
17 U of Leicester 2.9
18 U of Aberdeen 2.85
19 Birkbeck College 2.85
20 U of Sheffield 2.8
21 U of Surrey 2.8
22 U of Stirling 2.75
23 U of Birmingham 2.75
24 U of East Anglia 2.75
25 U of York 2.75
26 Swansea Univ 2.75
27 U of St Andrews 2.7
28 U of Sussex 2.7
29 Brunel Univ 2.65
30 City Univ, London 2.65
31 U of Dundee 2.45
32 Loughborough Uni 2.45
33 London Metropolitan Uni 2.25
34 Kingston Uni 2
35 Manchester Metropolitan Uni 1.7

Note: weighted averages are calculated based on 4*=4, 3*=3, 2*=2, 1*=1, unclassified=0.