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.

Israel has 8 universities and is academically supervised by the Council for Higher Education in Israel. The country is among the countries, which have the high rate of university enrollment in the world. They have a friendly student’s relationship not only to the local students but also to international students.

Requirements for the PhD program often involve the student having already obtained a Master’s degree. Additionally, a thesis or dissertation primarily consisting of original academic research must be submitted. In some countries, this work may even need to be defended in front of a panel.