Economic development is a study that prepares students to use economic theories to create policies that help a nation’s people prosper economically and socially. This area of economics focuses on the growth of a country and its citizens.

The Czech Republic, is a landlocked country in Central Europe. The country is bordered by Germany to the west, Austria to the south, Slovakia to the east and Poland to the north. Its capital and largest city, with 1.3 million inhabitants, is Prague.

The PhD is a doctoral degree, specifically called a "doctor of philosophy" degree. This is misleading because PhD holders are not necessarily philosophers (unless they earned their degree in philosophy!). That said, PhD recipients are able to engage in thought experiments, reason about problems, and solve problems in sophisticated ways.