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.

Associate of Science degrees are similar to Associate of Arts degrees in that they are offered by community colleges and require general education classes. They differ in the fact that Associate of Science degrees require elective courses on specialized science subjects.