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.

Serbia, officially the Republic of Serbia, is a country located at the crossroads of Central and Southeast Europe, covering the southern part of the Pannonian Plain and the central Balkans. Serbia's capital Belgrade was voted as one of the up and coming capitals of Europe.