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UI economics department ranked among top 30 by journal Econometric
IOWA CITY, Iowa -- The economics faculty at the University of Iowa College
of Business Administration is among the 30 most productive in the world
when it comes to the statistical analysis of the economy, according to
a new study that compared scholarly papers published in prestigious journals
in the field.
According to the study, which appeared in the February 1998 issue of
the journal Econometric Theory, the UI department of economics ranked 22nd
in publication activity based on work by faculty that appeared in the leading
journals of theoretical econometrics from 1989 to 1995, and ranked 26th
in publication activity in overall econometric journals for the same period.
The study named Joel L. Horowitz, professor of economics, as a member
of the "Hall of Fame" in the field of econometrics for his work.
N. Eugene Savin, the George Daly Professor of Economics, also was included
as a top scholar in theoretical econometrics.
The study, conducted by Badi H. Baltagi of Texas A&M University,
updated studies for the period 1980 to 1988 that appeared in the journal
in 1988 and 1990. Using a "standardized page count," the study
compared work that appeared in the 15 top journals in the areas of applied
and theoretical econometrics and ranks the top 200 institutions.
In the earlier studies, the UI economics faculty ranked 39th in theoretical
econometrics and 45th in overall econometrics.
The study is the latest to rank the economics program highly. The 1998
ratings by U.S. News and World Report ranked the UI's doctoral program
in economics as the 30th best in the country.
Robert Forsythe, professor of economics and associate dean for faculty
and development in the College of Business Administration, says the Econometric
Theory study is an important benchmark because it recognizes the quality
of work by faculty.
"The journals that the study compares are very competitive and
accept work only by the best scholars in the United States and the rest
of the world," Forsythe says. "The department's high rankings
are an indication of the esteem with which our faculty are held by their
The study compared publication activity in the following journals: American
Economic Review, Econometrica, Econometric Reviews, Econometric Theory,
Economic Journal, International Economic Review, Journal of the American
Statistical Association, Journal of Applied Econometrics, Journal of Business
and Economic Statistics, Journal of Econometrics, Journal of Monetary Economics,
Journal of Political Economy, Journal of the Royal Statistical Society,
Review of Economics and Statistics, Review of Economic Studies, and the
Journal of Applied Econometrics.
In the study:
-- The UI department of economics ranked 22nd out of 200 institutions
in theoretical econometrics publications. Yale University ranked first
in the category, followed by the London School of Economics, Massachusetts
Institute of Technology and the University of Michigan. The University
of California at San Diego rounded out the top five.
-- The UI department of economics ranked 26th out of 200 institutions
in all econometrics publications. Yale ranked first, followed by the University
of Chicago, MIT, Harvard University and the University of Pennsylvania.
-- In a ranking of the top 100 individual contributors to the leading
journals, what the study author calls the "Econometricians' Hall of
Fame," the UI's Horowitz ranked 16th for his contributions to all
econometrics publications. Faculty from Yale, Hong Kong University of Science
and Technology, MIT and Boston College ranked in the top five.
-- In individual rankings by contributions to theoretical econometrics,
Horowitz ranked 17th out of 100. Faculty from Yale, Hong Kong University
of Science and Technology, MIT and the London School of Economics ranked
in the top five.
-- In rankings based on the number of econometrics articles published
in the 15 journals, Horowitz ranked 24th with 11 articles and 162.49 standardized
-- In rankings based on the number of theoretical econometrics articles
in the 15 journals, Horowitz ranked 26th with seven articles and 106.93
standardized pages; Savin ranked 32nd with seven articles and 41.99 standardized
In concluding remarks, Baltagi cautioned readers to recognize that the
study contains some subjectivity in the choice of journals, but says the
rankings "are a useful guide to graduate students, faculty, and academic