The University of Colima was founded in 1940, following the educational philosophy of President Lázaro Cárdenas meant to provide higher education to the poorer classes. Today, the university offers high school level classes along with undergraduate and graduate degrees. Much of the institution's current size and offering is due to growth in the 1980s, and during that time its reputation in Mexico and abroad increased. Most of the university's majors are concentrated in agriculture, industry and commerce with aim of enhancing Colima's economy.