Universidad Francisco Marroquín is a private university founded in Guatemala in 1971. Its mission is to teach and disseminate the ethical, legal, and economic principles of a society of free and responsible persons. UFM has fifteen schools and departments that offer undergraduate and graduate degrees in several disciplines, from economics and entrepreneurial engineering to law and medicine.
One of the goals of UFM’s founding president, Manuel Ayau, was to put an end to “economic illiteracy.” While trying to understand the causes of poverty in Guatemala, Ayau realized that he had been asking the wrong questions. The answers he was searching for lay in the causes of wealth.
Ayau recognized that in order to reduce poverty in Guatemala more people needed to understand the process of wealth creation and what makes nations prosper. This is why all UFM students, regardless of their discipline, are
required to take basic economics courses.
UFM targets the brightest students for admission, it has the most rigorous entrance requirements in the country, and selection of students is based solely on academic criteria. Faculty members are not offered tenure; instead all professors are evaluated every semester to determine if their contracts will be renewed.