This article provides the first academic ranking of Mongolian economists and economic institutions, to gauge where we are at in terms of international standards, what requirements and incentive mechanisms are necessary for our further advancement. Only 8.6% of the 751 economists considered in this study, 6.6% of the 530 economics doctorate holders and 3 of the 34 universities and colleges that are permitted to provide economics training at the undergraduate and higher levels by the Ministry of Education and Science have publications in Web of Science and Scopus indexed journals. None of the 37 Mongolians who obtained the Soviet Union's and Russia's Doctor of Science degrees, 1 out of 18 holders of the Mongolian version of such degrees, 1 economics professor titleholder, 1 out of 7 Academicians, 2 out of 23 full-professors and out of 41 associate professors have such publications. This finding indicates that we need to raise requirements and expectations for our economics doctors, their dissertation supervisors and defence committee members, professors and academicians. Replication data and R codes of this study are made publicly available, and I ask colleagues in other scientific fields to conduct similar investigations.