This new book presents a comprehensive overview of the current ?state of the art? of ranking in higher education and research, and introduces a completely new approach called ?multidimensional ranking?. In part 1 rankings are discussed in the broader context of quality assurance and transparency in higher education and research. In addition the many current ranking methodologies are analyzed and critized, and their impacts are explored. In part 2 a new approach to ranking is introduced, based on the basic idea that higher education and research institutions have different profiles and missions and that the performances of these institutions should reflect these differences. This multidimensional approach is operationalized in a new multidimensional and user-driven ranking tool, called U-Multirank. U-Multirank is the outcome of a pilot project, sponsored by the European Commission, in which the new ranking instrument was designed and tested at a global scale.