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.

Iceland officially the Republic of Iceland, is a Nordic island country situated at the confluence of the North Atlantic and Arctic Oceans, on the Mid-Atlantic Ridge.

A master's degree is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice.