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Report: UT Austin is one of the best universities in the world

UT is the only Texas university to make the top 100 in the U.S. News and World Report's global rankings.

AUSTIN, Texas — The University of Texas at Austin is one of the top 50 universities in the world, according to U.S. News and World Report's new ranking of the Best Global Universities. UT was ranked 43rd in the world. 

U.S News and World Report uses a variety of criteria to determine a university's place on its list, including global and regional research reputation, publications and conferences.

UT is the only Texas school to make the top 100 in the global rankings, though the school did drop a few spots from last year when it was ranked 38th.

RELATED: UT Austin is one of the top public schools in the nation, U.S. News & World Report says

The top five universities on the list were Harvard University, the Massachusetts Institute of Technology (MIT), Stanford University, the University of California-Berkeley and the University of Oxford in the U.K.

Last month, U.S. News and World Report ranked UT as one of the top public schools in the nation. UT tied with the Georgia Institute of Technology, the University of California-Davis and the College of William and Mary for the No. 10 position among public schools. UT also ranked No. 38 overall among U.S. universities, tying with UC-Davis.

WATCH: Memorial tree planted at Disch-Faulk Field for late UT super fan

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