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 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.