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.

South Korea, officially the Republic of Korea, is a sovereign country located in the southern part of the Korean Peninsula. The name "Korea" is derived from Goryeo, a dynasty which ruled in the Middle Ages. South Korea is now a liberal democracy and an economic powerhouse. The most prestigious comprehensive universities are Seoul National University, Korea Advanced Institute of Science and Technology, Yonsei University and Korea University.

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.