University rankings have been based on a number of criteria, the most important of which is research output and quality. Although there is a lot of discussion on the controversy that surrounds all ranking methods, university evaluations are perhaps even more popular these days with the global economic recession. The present paper presents a methodology for ranking universities based on research using as criterion the different academic positions in a university i.e. professors, assistant professors, and uses the Greek departments of economics as a case study. The results produce useful conclusions for the present and future status of the institutes. Decision-makers can use the results as guidance to assess their present status and to identify if and how they want to improve.