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*UMD Short-term: Economic & Business Development in Peru
Cuzco, Peru; Lima, Peru (Outgoing Program)
Program Terms: May Session
This program is currently not accepting applications.
Dates / Deadlines:
There are currently no active application cycles for this program.
Fact Sheet:
GPA: 2.5 Language of Instruction: English
Class Standing: 2-Sophomore, 3-Junior, 4-Senior Housing: Homestay
Type of Program: Faculty Led Short-term Program: Yes
Program Description:

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Program Highlights
  • Study the economic, social, cultural, business and political environments in Peru and how they shape macroeconomics, industry and business relationships and their outcomes
  • Visit organizations, businesses, think-tanks and government institutions for hands-on experience in the challenges, advantages and necessary skills to conduct business and formulate policy in developing nations
  • Learn about the socioeconomic revolution that the food industry is bringing to Peru, as well as how to cook a Peruvian dish
  • Explore Machu Picchu, one of the Seven Wonders of the World, to learn about the Incan Empire

Program Overview
Cities visited: Lima, Cuzco and
Dates: May 17 - June 8, 2015


Learn why Peru has become the third fastest growing economy in the world in the last 10 years. Explore Peru’s rich culture as it converges with business. Investigate why foreign investors see Peru as a new market for profit opportunities. Examine the factors of the evolution of the Peruvian economy in the last 20 years; the improvement in business conditions and competitiveness in the last decade; and the economic issues and policies related to inequality, poverty, health and labor markets, microfinance and social responsibility.

Attend lectures given by faculty at Universidad del Pacifico (University of the Pacific) and take field trips to bring the topics to life. Involvement in cultural activities will aid in grasping the different approaches to business relationships and policymaking in Latin America. For example, the food industry in Peru, which has provided a sense of identity to the Peruvian society, is improving economic conditions by generating jobs and a demand for local produce, which in turn increases the price paid to farmers and rural dwellers.

Visit a dance studio of a Peruvian business major who combined her degree with a passion for dancing to help kids stay away from crime and drugs. Peruvian people are passionate about dancing; learn how to do the salsa. Likewise, just as Minnesotans love the Twins and the Vikings, Peruvians love soccer. Get a chance to see a soccer game and kick a ball around with professional players. Explore colonial Lima, situated on the Pacific coast, with centuries-old historical landmarks. Take a day trip to warm Cieneguilla, and visit Cuzco, where the Inca civilization flourished. Live with a Peruvian family and become immersed in Latin American culture.

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There is a prerequisite for this program:
  • ECON 1003, 1022, or 1023
Earn 3 credits in IntB 4495: Economic and Business Development in Peru, which is approved for:
  • Global Perspectives requirement for the Liberal Education core
  • Upper division international requirement for BBA and BAc majors
  • Upper division Economics elective
  • Group B2 for Human Resources Management major
  • Group B for Organizational Management major
  • Group C for FMIS major
  • Group B for BBA Economic major
Course topics include:
  • Economic policies that focus on reducing income inequality and improving living standards for the underprivileged
  • Evolution of the Peruvian economy, its business environment and the policies that have generated sustained growth in the last 20 years
  • Economic phenomena that are inherent to developing countries, such as income inequality, poverty, microfinance and agribusiness

Program Leader
Luiggi Donayre is an assistant professor in the Department of Economics at University of Minnesota Duluth. His area of focus is economics, and he has extensive experience in Peru. View additional information about the program from Luiggi's perspective here!

Program Costs

May Session 2015
Program Fee: $4,564
Estimated Out-of-Pocket Expenses: $1,388
Estimated Total Cost: $5,952

What’s included in the program fee?
  • Personalized advising
  • Pre-departure orientation
  • Tuition
  • Housing (homestay)
  • Local transportation
  • Field trips & entry fees
  • CISI international travel, health and security coverage
  • Faculty leader support
  • Re-entry support
View the breakdown of costs for Economic and Business Development in Peru. These estimated costs do not include the application fee. Financial aid only applies to students who take at least 6 credits total during May and Summer session combined. Credits taken on study abroad programs cannot be used in tuition banding. Apply for scholarships.

Travel Documents
A passport valid for 6 months beyond the end of the program is required.

Know the following program information to provide on the online application:

Country: Peru
Program Name: Economic and Business Development in Peru

Early application is strongly encouraged, as space is limited and the program will be filled on a first-come, first-serve basis. Completed applications require an essay and an unofficial transcript. A non-refundable application fee of $50 will be billed to students’ One Stop account upon submission of an online application.

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for end of brochure pages

UMD 138 Kirby Plaza, 1208 Kirby Drive, Duluth MN 55812
Email | (218) 726 8764 or (877) 755-4200

UMD student & faculty photo contributions by: Alexa Anders and Luiggi Donayre


This program is currently not accepting applications.