<p>Sure although MIT does better in John Bates Clark medals, which despite being less prestigious may be a better indicator because of less lag time. Harvard does better in publications. That isn’t to say that Chicago’s econ department isn’t good but it’s not an undisputed hegemon. Most undergrads pursuing econ probably care less about research than placement on Wall Street as well. Somewhat surprisingly, Chicago doesn’t do very well in number of undergraduates who eventually get econ phds <a href=“http://www.vanderbilt.edu/econ/wparchive/workpaper/vu06-w11.pdf[/url]”>http://www.vanderbilt.edu/econ/wparchive/workpaper/vu06-w11.pdf</a> [caveat the data is old].</p>