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.

There are several private universities that can be found throughout Guatemala. Despite this, it still has some of the lowest literacy levels in all of Central America. Those looking to study in this country may have to pay higher tuition due to the privatized school systems.

A bachelor’s degree is a four-year undergraduate degree and is the standard for higher education throughout most of the world. Bachelor’s degrees can be earned at state universities, at private universities, at community colleges and via online universities.