The University of Arizona is among the world's leading institutions for student success and research impact, according to Time magazine.

The U of A ranks No. 18 among U.S. public colleges and universities in the new World's Top Universities ranking, released Wednesday by Time and Statista R, a global provider of market and consumer data and rankings. The U of A placed No. 43 in the U.S. and No. 103 globally.

The list includes 500 global institutions that qualified for analysis, which is based on academic capacity and performance (60% of the final total), innovation and economic impact (30%), and global engagement (10%). Eligibility criteria required institutions to be older than three years, offer bachelor's degrees and enroll more than 2,000 students.

The U of A's top score came in the innovation and economic impact category (78.66 out of a possible 100), which ranked 15th among public institutions, 29th in the U.S. and 47th globally. This category measured universities' contributions to the advancement of science and technology, the diffusion of knowledge, and their influence on economic decision-making through the careers of their graduates.