<p>" For that interesteddad's efforts should be thanked, not dismissed out of hand as you seem to do."</p>
<p>Mackinaw, I am afraid to have to disagree here, as well as with your comments about I-Dad NOT trying to measure the relative value of the economics departments. Producing a ranking list IS a measurement. I have no problem whatsoever with the exercise of counting the number of PhD produced by Swarthmore -or the other listed schools-, or the with the control factor of establishing a ranking by 1000 students. I would be glad to thank I-dad for the effort of segregating that data from the giant databank of NSF. However, the problems I have starts with the reaching of spurious conclusions from the same data. As I have said before, the ONLY conclusion that can be reached from the data is ... that there are some differences in the number of PhD among schools. Nothing MORE!</p>
<p>Again, allow me to repeat that the exercise is absolutely irrelevant to the world of economics at the undergraduate level, because the number of annual PhD in Economics represents a VERY small fraction of the population of students in Economics. Have you really checked the landscape for admissions at PhD programs? We are talking about 200 ANNUAL admissions at leading programs. In the simplest terms, there are many attributes that define a successful program in Economics, and the production of PhD ought to be one the least relevant. </p>
<p>As far as rankings, I am on the record for stating that I do not believe that in the existence of any truly meaningful rankings for measuring the quality of schools. Some rankings -a la US News- provide a valuable insight for admissions' purposes, but this value is restricted to quantifiable and measurable elements such as selectivity. The bulk of the report and especially the final ranking is a complete joke. </p>
<p>However, if you insist to find rankings of higher education in Economics, there ARE accepatble and recognized standards. Like it or not, the standards are based on the number of citations and quality pages. The resulting rankings DO seem to confirm the "overall" reputation of schools. Those rankings are prepared by economists and, with subtle variances, seem to be pretty consistent. While they might not apply to the quality of undergraduate institutions, I'd rather adopt conclusions reached on similar methodologies than a set of conclusions that lack relevance to the field of economics. </p>
<p>Lastly, I'd like to comment on another issue. While there is ample evidence that the LAC do contribute solidly to the number of PhD -as I-dad has pointed out- I would still question if a LAC is the most adequate path to a LEADING PhD in Economics IF that is the intent of a student. There is data that indicates that the admission in leading Econ PhD department is highly influenced by the UG. In other words, a school like Harvard seems to favor Harvard undergraduates. Similar situations appear to show up at Chicago, Yale, etc. </p>
<p>However, this is NOT THAT relevant for the overall landscape of economics at the undergraduate level. It only applies to students who have decided to earn a terminal degree in the field, and, again, this represents only a fraction of the students.</p>