<p>, moving up one spot from last year.</p>
<p>The annual list ranks the top 400 universities worldwide and is based on 13 performance indicators separated into five categories: teaching, research, citations, industry income and international outlook.</p>
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<p>Learn more about the 2014-15 Times Higher Education rankings.
The London-based higher education magazine worked with Thomson Reuters to produce "World University Rankings 2014-2015."</p>
<p>Phil Baty, editor of Times Higher Education rankings, stated that all the universities ranked have to meet high standards against tough, rigorous and comprehensive criteria.</p>
<p>"Making the top 20 in the world is an outstanding achievement, and perhaps even more impressive is the fact that Michigan has risen further up the table this year against a backdrop of falls for many of the U.S.' leading public universities, and against mounting competition from rising stars in East Asia which have been enjoying strong financial support," he said.</p>
<p>U-M was one of 15 U.S. universities making the top 20. That list includes: California Institute of Technology, Harvard University, Stanford University, Massachusetts Institute of Technology, Princeton University, University of California-Berkeley, University of Chicago, Yale University, University of California-Los Angeles, Columbia University, Johns Hopkins University, University of Pennsylvania, Duke University and Cornell University.</p>
<p>The ranking is one of two released annually by Times Higher Education. Earlier this year, U-M was ranked 15th in the organization's annual Reputation Rankings, which are based on results from an invitation-only survey of scholars from around the world.</p>