The Ancient Romans trace their history back to the 7th century BC when they were a small group of Italic people who settled in the Italian peninsula. Over the next few centuries, the Roman Republic was established and the Romans extended their influence through the Mediterranean region. During this time, Rome rose to become one of the most powerful civilizations in the world, overseeing an empire that stretched from Britain in the north to Egypt in the south. The Roman Empire officially began in 27 BC when Octavian (later known as Augustus) was declared the first Emperor. The period of Pax Romana, or Roman peace, followed, as Roman law and culture spread throughout the empire. In the 2nd century AD, Rome was at its peak, with a population of over one million people. However, towards the end of the 3rd century, the Roman Empire began to decline, leading to its eventual collapse in the 5th century AD. Yet even to this day, the influence of the Ancient Romans can be seen in modern life, from their language and architecture to their laws and government systems.