The Dublin university is the only Irish business school ranked in the top 100 by the Economist's Which MBA? survey. The magazine praised the Smurfit school for the range of career opportunities opened up to its MBA graduates.

UCD was ranked 53rd on last year's list and has moved up 15 places in the Economist rankings. The Smurfit school is now ranked 13th among the among the top 20 business schools in Europe by the Economist.

Tom Begley, dean of the Smurfit school, said UCD's goal is to improve its standing further in the coming years.

Its target is to be considered among the top 25 business schools in the world within the next 10 years.

"We are pleased with these results, and will continue to compete internationally. Ireland needs a world class business school generating state of the art knowledge to guide innovative business practice, " he said.

The school's 10-year plan includes establishing several new departments, including a global finance academy which will conduct research into cutting edge financial instruments.

Begley said UCD is "investing significantly" in filling ten new professorial positions, to strengthen its teaching staff and its research capabilities.

UCD claims to have been the first Irish university to offer an MBA programme, in 1964. The Smurfit school has since seen over 10,000 alumni pass through its doors.