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(Source: Columbia University)So now we're down to the top four universities in America. Let's see who just missed the bronze.

#4: ColumbiaNew York City is the capital of the world, in many respects, so its best university has to rank among the elite, right? Well, actually, yes, it does.

That would be Columbia, of course. NYU may be nipping at its heels on some fronts, but Columbia still reigns supreme. Why? Top graduate and professional programs, for one. Its schools of law, medicine, business, journalism, international affairs, education (Teachers College) and public health all merit mention among the best. What's more, departments within arts and sciences are uniformly good. Economics, political science, history, English and sociology have always been stellar. Not surprisingly, the School of the Arts is also outstanding, given the concentration of such activity in the city and the school's ability to attract many of the best artists and practitioners.

At the undergraduate level, Columbia College, while small, has left an indelible mark on American higher education through its strong faculty and its commitment to a core curriculum, which has been modeled elsewhere. Undergrads can also enroll in the oddly-named Fu Foundation School of Engineering; the sister-school, Barnard; and the School of General Studies, which offers nontraditional students the opportunity to take "real" Columbia courses with "real" Columbia professors. Imagine that.

Weaknesses? Not many, but Columbia still loses skirmishes for faculty and student talent to those institutions ranking above it (and even to some below). Not everyone wants to be in New York. If you don't, then the university isn't for you. Crime persists, and it's not exactly the easiest or cheapest place to visit or live in. But if you love New York, or can at least manage it for a few years, then Columbia is your best bet for top academics, almost across the board.

Columbia's reputation as one of the world's premier intellectual hubs is well-deserved. It does, though, lag behind a few institutions in that respect—three, to be exact.

That's why it ranks fourth.

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