In a new report released on Monday, U.S. News & World Report ranked the undergraduate program at the UConn School of Business among the Top 50 in the nation.

The program is ranked No. 47, based on peer assessment by deans and senior faculty members at other highly-regarded colleges. UConn tied with UMass for the top public undergraduate business education in the New England.

“The new U.S. News ranking, placing our undergrad business program in the top 50 nationwide, is a strong testament of the quality of our programs,’’ said professor Nora Madjar, associate dean for undergraduate programs at the School of Business.

“Our academic offerings provide a very solid foundation for our students, including critical problem-solving skills and professional development,’’ Madjar said.

“Combined with our experiential learning engagement opportunities, our students are very well prepared to become well-rounded and sought after business professionals, ready to solve real-world problems from the first day on the job,’’ she added.