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.

The institutions of higher education included regular four-year colleges and universities. Education is taken very seriously in South Korea, and the country is home to several world class universities, many of which have exchange agreements with various foreign universities, and are a good way for foreigners to experience life in the country.

Earning a Bachelor of Arts (BA) degree is an academic achievement upon completing a series of courses over the course of three or four years. The subjects that are studied in order to earn this degree vary widely under the disciplines of the liberal arts and sciences.