There is evidence of economic writing that dates all the way back to the Mesopotamian era. The development of modern economics is largely due to two groups which were known as the physiocrats and the mercantilists. These groups help develop capitalism in Europe in the 16th century.

A master’s program is a focused degree that requires about two years of classwork, research, and possibly a thesis paper to earn. This advanced program of study allows students to further specialize their schooling in an area that interests them.