Evaluate the considerations that are important to you. These key considerations may be factors such as: proximity to home, national recognition as a leading economics department, online options, specific curriculum and financial considerations, among others. Analyzing individual needs and wants will result in a decision that is best for you, which may or may not be the same as the next person's definition of "the best."
Examining independent, respective rankings of economics departments is a great way to begin searching for the best program. Understanding how those rankings are made is critical in determining the validity of the rankings, as well as how much credence should be afforded to each. Take time to learn the methodology of the rankings process, before simply accepting them at face value.
Reviewing one ranking, and one ranking alone, does not do justice to such an important search as deciding where to attend college. Compare multiple rankings, keeping an eye out for redundancies. As the rankings here indicate, many of the top-tier economics departments show up on several rankings. They are not always in the exact numerical order, of course, but they are consistently listed.
These departments are consistently among the top in several rankings: Massachusetts Institute of Technology (MIT), Harvard, the University of Chicago, Stanford and Princeton.