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.

Due to the numerous countries within Oceania, work occasions and work permit laws differ greatly, with data on opportunities in some nations being limited. Australia and New Zealand are the most advanced countries in the area.

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.