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The Academic Ranking of World Universities is a college and university ranking list based on research output. The ranking was compiled by researchers from Shanghai Jiao Tong University and includes major institutes of higher education ranked according to a formula that took into account alumni winning Nobel Prizes and Fields Medals (10 percent), staff winning Nobel Prizes and Fields Medals (20 percent), "highly-cited researchers in 21 broad subject categories" (20 percent), articles published in Nature and Science (20 percent), the Science Citation Index, Social Sciences Citation Index, and Arts and Humanities Citation Index (20 percent) and the size of the institution (10 percent). The results have often been cited by The Economist magazine in ranking universities of the world *. Because of its methodology the list ranks almost exclusively research universities and not liberal-arts colleges. The rankings have been criticized for being biased towards math and science and for placing much emphasis on the Nobel Prizes. The Times Higher Education Supplement by The Times of London, which also publishes an annual report about world rankings (the Times Higher Education World University Rankings) criticized the rankings in 2004 for crediting the universities where prize-winners studied (some as far back as the late 18th century)and for crediting universities where winners carried out their research, often 20 years or more previously, instead of the institution that now benefits from their presence. The report also criticized the rankings for their emphasis on the natural sciences. Another paper published in the Romanian journal Ad Astra found that the results could not be reproduced using the ranking's stated methodology. The Shanghai group also refused to provide raw data in response to a request.
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