The region of Latin America has experienced two dramatic economic and political experiments since the late 1980s. The emergence of large economies in Brazil, Mexico, Argentina, and Chile has made the region more important for the US economic health. In fact, Brazil is routinely predicted to be a top six economy in terms of total GDP in the next decades by economic analysts. This would mean that there would be a continental shift in the economic balance of power in Latin America. Politically, the region has been amazingly receptive to democratic governance in recent decades. It has seen regular and peaceful transition of power from one contender to another after a particular electoral cycle, a fact unseen in the previous 200 years of political history. These two facts, together with the relative decline of US influence in the region, could become a catalyst to innovative economic and political experiments that a Major in Latin American Studies would most credibly focus and analyze.