2005 rank | 2004 rank | Institution | Country | Peer score | Citations per paper |
| 1 | 1 | Harvard University | US | 100 | 9.4 |
| 2 | 2 | London School of Economics | UK | 96.3 | 4.6 |
| 3 | 4 | Oxford University | UK | 88.4 | 5.3 |
| 4 | 3 | University of California, Berkeley | US | 85.3 | 6.9 |
| 5 | 6 | Stanford University | US | 80.4 | 8.5 |
| 6 | 7 | Yale University | US | 77.3 | 7.2 |
| 7 | 9 | Massachusetts Institute of Technology | US | 73.9 | 8.9 |
| 8 | 8 | Cambridge University | UK | 73.5 | 4.6 |
| 9 | 5 | University of Chicago | US | 73 | 9.9 |
| 10 | 11 | Princeton University | US | 68.9 | 8 |
| 11 | 12 | Melbourne University | Australia | 63.6 | 2.8 |
| 12 | 14 | Columbia University | US | 63.3 | 6.7 |
| 13 | 10 | National University of Singapore | Singapore | 63.1 | 3.1 |
| 14 | 15 | Tokyo University | Japan | 61.7 | - |
| 15 | 16 | Australian National University | Australia | 60.5 | 3.3 |
| 16 | 13 | Cornell University | US | 57.1 | 5.8 |
| 17= | 28 | Monash University | Australia | 56.9 | 3.1 |
| 17= | - | Indian Institutes of Management | India | 56.9 | - |
| 19 | 24 | Sydney University | Australia | 52.2 | 4.1 |
| 20 | 21 | New York University | US | 50.3 | 6.1 |
| 21 | 20 | Erasmus University Rotterdam | Netherlands | 49.2 | 4.6 |
| 22 | 17 | Pennsylvania University | US | 48.6 | 7.6 |
| 23 | 19 | Beijing University | China | 48.4 | - |
| 24 | 23 | University of New South Wales | Australia | 48.1 | 3.7 |
| 25 | 36 | Queensland University | Australia | 47.2 | 2.7 |
| 26 | 18 | University of California, Los Angeles | US | 47 | 7.6 |
| 27 | - | Catholic University of Leuven (French) | Belgium | 46.7 | 3.5 |
| 28 | 33 | Boston University | US | 46.1 | 6.2 |
| 29= | 22 | McGill University | Canada | 44.3 | 4 |
| 29= | 30 | University of Toronto | Canada | 44.3 | 4.2 |
| 31 | 25 | Manchester University & Umist | UK | 43.2 | 4.3 |
| 32 | 31= | Carnegie Mellon University | US | 43 | 9.4 |
| 33 | 45 | Hong Kong University | Hong Kong | 41.8 | 2.5 |
| 34 | 27 | University of Michigan | US | 41.5 | 7.6 |
| 35 | 73 | Munich University | Germany | 41.3 | - |
| 36 | 31= | Université Paris I Panthéon Sorbonne | France | 41 | - |
| 37 | 84 | RMIT University | Australia | 40.7 | - |
| 38 | 25= | University College London | UK | 40.1 | 5.6 |
| 39 | 44 | Kyoto University | Japan | 39.7 | - |
| 40 | - | Northwestern University | US | 39.5 | 8.1 |
| 41 | 38= | Massachusetts University | US | 39.4 | 4.4 |
| 42= | 92 | Vienna University | Austria | 39.2 | - |
| 42= | 29 | Warwick University | UK | 39.2 | 3.6 |
| 44= | 38= | Bonn University | Germany | 38.1 | - |
| 44= | - | Amsterdam University | Netherlands | 38.1 | 3.9 |
| 46= | 50 | Macquarie University | Australia | 37.4 | - |
| 46= | 58 | Chinese University of Hong Kong | Hong Kong | 37.4 | 3.4 |
| 46= | 46= | Chulalongkorn University | Thailand | 37.4 | - |
| 49 | 53= | University of British Columbia | Canada | 37.2 | 4.8 |
| 50 | 35 | Copenhagen University | Denmark | 37.1 | - |
| 51 | - | Jawaharlal Nehru University | India | 36.6 | - |
| 52 | 46= | Indian Institutes of Technology | India | 36.5 | - |
| 53 | 56 | University of Texas at Austin | US | 36.2 | 5.3 |
| 54 | 40 | Hebrew University of Jerusalem | Israel | 36.1 | 3.9 |
| 55= | 53= | Stockholm School of Economics | Sweden | 36 | - |
| 55= | 37 | Duke University | US | 36 | 8 |
| 55= | 96 | Pennsylvania State University | US | 36 | 5.4 |
| 58 | 57 | Hong Kong University Sci & Technol | Hong Kong | 35.5 | 4.9 |
| 59 | 41 | Edinburgh University | UK | 34.9 | 4.4 |
| 60 | 43 | Autonomous University of Barcelona | Spain | 34.8 | - |
| 61 | 98 | Lahore University | Pakistan | 34.1 | - |
| 62= | 48 | Sussex University | UK | 33.8 | 5.3 |
| 62= | 60 | Johns Hopkins University | US | 33.8 | 6.2 |
| 64 | 66= | Heidelberg University | Germany | 33.7 | - |
| 65 | - | Auckland University | New Zealand | 33 | 3.4 |
| 66= | 70 | Fudan University | China | 32.9 | - |
| 66= | - | Korea University | South Korea | 32.9 | - |
| 68= | - | La Trobe University | Australia | 32.6 | 3.2 |
| 68= | - | Tel Aviv University | Israel | 32.6 | 4.2 |
| 70= | 51 | Humboldt University Berlin | Germany | 32.5 | - |
| 70= | 53= | Bologna University | Italy | 32.5 | - |
| 72 | 77= | Maastricht University | Netherlands | 32.4 | 4.7 |
| 73= | 62= | Helsinki University | Finland | 32.3 | 4.3 |
| 73= | - | HEC Paris | France | 32.3 | - |
| 75= | 42 | National Taiwan University | Taiwan | 31.5 | - |
| 75= | 69 | University of Wisconsin - Madison | US | 31.5 | 5.4 |
| 77 | 79 | North Carolina University | US | 31.4 | 5.2 |
| 78= | - | Georgetown University | US | 31.3 | 5.1 |
| 78= | 75= | Rochester University | US | 31.3 | 8.1 |
| 80= | - | Université Paris Sorbonne - Paris IV | France | 31.2 | - |
| 80= | 65 | Trinity College, Dublin | Ireland | 31.2 | - |
| 80= | - | Pompeu Fabra University | Spain | 31.2 | - |
| 83= | - | Malaya University | Malaysia | 30.3 | - |
| 83= | 70= | Nanyang Technological University | Singapore | 30.3 | - |
| 85= | 84= | Nanjing University | China | 30.2 | - |
| 85= | 74 | University of California, San Diego | US | 30.2 | 8.5 |
| 87= | - | Keio University | Japan | 30.1 | - |
| 87= | 58= | Michigan State University | US | 30.1 | 5.6 |
| 89 | 66= | University of Illinois | US | 30 | 5 |
| 90 | 92= | Oslo University | Norway | 29.9 | 3.4 |
| 91 | 49 | ETH Zurich | Switzerland | 29.7 | - |
| 92 | 62= | Toulouse I | France | 29.6 | - |
| 93= | 70= | Shanghai Jiao Tong University | China | 28.9 | - |
| 93= | 61 | City University of Hong Kong | Hong Kong | 28.9 | - |
| 93= | - | Mumbai University | India | 28.9 | - |
| 96= | - | Curtin University of Technology | Australia | 28.8 | - |
| 96= | - | Tasmania University | Australia | 28.8 | - |
| 96= | 83 | Hitotsubashi University | Japan | 28.8 | - |
| 99= | - | University of Newcastle | Australia | 28.7 | - |
| 99= | 84= | School of Oriental and African Studies | UK | 28.7 | - |
| 99= | 91 | Brown University | US | 28.7 | 6.6 |