Original post by BenRyan99You've got research how these things like rankings, accreditations and uni groups are constructed to be able to interpret them properly. And I don't mean that in an offensive way, most people don't and they're very opaque to students.
Firstly let's take the rankings, often these are made up of some good predictors of quality and some less good ones. One metric is average entry tariff, this is a fairly useful one because it indicates the past grades of your classmates, it's limited by the fact that uni is very different to school so it's not a perfect relationship between who does well at school and uni. Secondly there's things like employability, obviously sounds good but it doesn't actually take into account what kind of jobs people are getting, are they even jobs relevant to the course or just any job. Student satisfaction, this is by far the worse one, typically there is a negative relationship between satisfaction and quality of degree because students find rigorous courses tough but that doesn't make them bad degrees (e.g. LSE often has the lowest satisfaction for example). There's often also a research ranking, this has nothing to do with undergrad at all so not really relevant. So you can start to see why for undergraduate courses the rankings are very very flawed, which is why rankings like the guardian have UCL at 25th for Economics and LSE at 13th even though they're both in the top 3.
Secondly, being part of the Russell group means that these unis produce a lot of research (quality and volume). Obviously this is a good thing if you have lecturers who are leaders in their fields. Naturally research isn't a big part of undergraduate degrees and becomes more important at postgrad level, along with the fact that top researchers aren't always good/nice teachers, they often have less time for you. So there are pros and cons of being in the Russell group but generally a good thing.
Thirdly business school accreditation, you often here unis say "our business school has a triple accreditation". If they're saying this for an economics course this is a bad thing. Economics departments within business schools are not a good thing at all, shows the department is too small to be a standalone. Notice how all of the top unis have separate economics departments and business schools? Obviously if you're doing a business school subject like accountancy, business, finance, marketing, etc then the accreditations are important but for economics it's useless advertising that they use to attract you. Think of it this way, the accreditations are from organisations like ACA, CIMA, etc which are accounting qualification bodies, so if you do these courses, often you get exemptions from accountancy/actuarial exams. Therefore for economics this is completely useless, unless you want to do accountancy after an Econ degree?
The best way to figure out the good unis for what you want to do is to look at people on LinkedIn who currently work in the jobs you're interested in and see what unis they went to. For example if you want to be an economist, just search economists, click on lots of profiles and you'll get a good idea of real good unis, it's clear evidence rather than university marketing.
In terms of what unis employers of economists like and respect, there's the top5 (Oxbridge, LSE, UCL and Warwick) next you've got the group of pretty good unis (Bristol, Durham, Nottingham, Bath, Edinburgh, maybe St Andrews, Exeter & Manchester at a push). Then there's the group below like Leeds, Sheffield, Glasgow, Southampton, Birmingham, etc so still solid unis. Then you get some ones that people don't really know about but place really well for their low rankings (this is due to either being located next to a big economics employers or strong employer links) and these are places like Birkbeck, Queen's University Belfast, Sussex and Essex (very strong for postgrad so has good faculty).
Apologies for the long msg but hopefully this helps a bit to actually understand what all these terms universities throw at you actually mean. Personally I think it's very misleading for unis to say all these things to 17&18yr olds who will never be able to know this stuff by themselves. There's a lot more to say on stuff like the rankings and the Russell group as the implications for an undergrad degree are quite nuanced and complicated but yeah hopefully this helps!