Economy of South America centuries. This can be explained by South America´s high concentration on primary commodities as well as the state of the educational system and institutional structure, some of which are still related to its colonial past, others to recent political developments. It was only from the 1990s when countries in South America switched over to the system of Free-Market economy. This eventually pulled countries in South America out of the debt crisis. Now, major economic activities include agriculture, industry, forestry, and mining. In 2016, four countries, which include Brazil, Ecuador, Argentina and República Bolivariana de Venezuela experienced decline in output. Other
University of Cartagena 1826, General Francisco de Paula Santander decree cleared the way for the creation of a university in the Caribbean Region of Colombia and was chosen to host Cartagena de Indias. On October 6, 1827 the Liberator Simon Bolivar formalized, thus was born the University of Magdalena and the Isthmus, because at that time Panama was part of Colombia. Subsequently, due to changes in territorial and political type, and University of Central Magdalena became the University of Cartagena in the Cloister of St. Augustine, then had only two undergraduate: Law and Medicine. In the 1950s, officially adopting the current shield University.