Managua in Alajuela, Costa Rica was the second established in 1984. The latter was made the main campus following the lack of government support during the 1980s; in fact the Managua campus was actually closed for most of this time. It then reopened in 1990 after democracy was restored in Nicaragua; however, the main campus remained in Alajuela. According to a study done by América Economía INCAE ranked as the number one business school in Latin America in 2004 and 2005 and ranked in the top ten international business schools by "The Wall Street Journal" in 2006. Managua is the economic
Managua Somoza García and his family (1936–1979), the city was rebuilt and began to grow rapidly. New government buildings were erected, industry developed, and universities were established. The city's development caught the attention of Irving Fields and Albert Gamse, who composed a musical piece about the city that became popular in the 1940s through the performances of Freddy Martin, Guy Lombardo and Kay Kyser. Managua had become Central America's most developed city. Today's references differentiate the pre-1970s Managua by labeling it as "La Antigua Ciudad," which in English translates to "The Ancient City" or "The Old City". Managua's progress came to