"When I'm [ranked only number] 64..."

Back in the early 1980s, Stan Liebowitz and I did a series of studies ranking economics journals according to citation rates (that study appeared in the Jl of Econ Lit and is still being cited). We then used those data to rank economics departments according to total weighted citations, per-capita weighted citations, total weighted publications, and per-capita weighted publications. Depending on the metric used, the University of Western Ontario's economics department ranked somewhere between 15th and 30th in the world. It was an excellent department (that study appeared in the Quarterly Jl of Econ and Bus).

Provincial budget cuts, coupled with some poorly managed destructive in-fighting, led to serious deterioration of the department's prestige and ranking in the early 1990s. We struggled, but recently people here have been working to rebuild the department. Nevertheless, a recent ranking has our department at 64th in the world. That is big drop from our glory days [h/t to co-blogger, Gabriel].

And very likely things will get worse.

The financial folks here gambled with our rent money: they invested huge chunks of the university's operating revenues AND endowment funds in equities. They looked like geniuses when stock prices were rising, but who is suffering now? Not them. In fact, they blame the market, not their own injudicious investment strategies.

Instead, the admin types here are reneging even on re-negotiated agreements. As a result, our department is losing a very dynamic and energetic chair and will likely lose other very creative economists.

There is a report that some of the senior admins here think that even having a ranking of 64 is too high for a university whose overall ranking in the world is somewhere between 100 and 150. They think this department is too good and commands too many of the university's resources. They see that top new PhDs in economics draw big salaries at top schools, and so they want us to hire lesser people and fall in the rankings.

For this and other personal reasons, I will be happy to be out of here in a few years.

Comments

[Stephen Gordon]

That really is a sad story. The Université de Montréal has a similar tale of woe: it had the makings of a top-20 department (in econometrics, it was already there) up until the mid-1990's, and then it too lost people.

My understanding is that at UdM and at UWO, there were deans who supported the economics departments, and that's how they rose in the rankings. But in both cases, they were replaced by econ-hostile deans who withdrew those resources.

Do I have it right?

[Ironman]

"Nevertheless, a recent ranking has our department at 64th in the world."

Dare I ask which schools' departments moved up most in the rankings? And is that more to increased output or due to others falling back?

"For this and other personal reasons, I will be happy to be out of here in a few years."

Most people wouldn't be aiming to have their professorial careers span 70 years. Come to think of it, do the Guinness people know?...

[Fraser]

I can say i have had great and poor experiences at UWO Econ, from stimulating energetic professors, to professors (but perhaps it was a "lecturer") who's english was so poor i actually stopped attending classes and spent that 3 hours a week reading the text book over and over..
Note I later learned the lecturer in question was being tutored in english by a classmate, because both he and the lecturer spoke some japanese (a second language for both). I was always unsure how this was allowed.

Speaking to the budget cuts and financial difficulties plaguing the department, I am curious to what extent tuition freezes etc contribute to changes in quality of education. (Insert admission of somewhat un-realisitc and perhaps extreme view of all student protests here) It seems B.A.'s are pleantiful these days, I got mine... It always amazes me to see students petitioning for lower tuition.. which in effect is decreasing the value of their education. Sure they save $300 a year (or some small amount) but on aggregate think of how much that means to the department to help maintain quality faculty and research. Not to mention that when students lobby to lower tuition, they are making the degree they are working for more achievable, so supply and demand says they are lobbying down the rents they will earn as future employees by flooding the market with degrees.
I suppose the counter argument is a more educated population raises the living standard for all, but I will leave that for someone else to discuss.