Business & Economics

Business and economics masters degrees are by far the most popular subjects that are studied in the UK. Almost 89,000 students were enrolled on a management masters degree in 2019 and the demand has continued to rise. 

Global challenges cause demographic shifts as well as the aftermath of the pandemic. Learning how communities adapt to living and surviving through commerce is key to survival. In every industry sector business are employing staff and encouraging new services to thrive. These are the core skills that lead to economic success.

Business degrees are in great demand. Worldwide the opportunities for qualified business executives show no sign of falling. This is one of the key benefits of study with a masters in management and a business and economics degree. The skills acquired are truly international.

There are many specialties within business and economics masters degrees.

Masters in management subjects cover a number of themes, including:

• Finance
• Law
• Marketing
• Sales Operations
• Human Resources
• Project Management

Of equal importance are areas related to staff and customer relations, such as corporate social responsibility, employee wellbeing, widening access, gender and representation.

Entrepreneurship is available as a masters level degree. While many businesses are launched by entrepreneurs who have not studied a business masters, the purpose of creating a qualification in this subject is simple. To ensure that students have the added advantages that a validated course can offer. Students can bring these skills to fruition in a business venture.

Masters degrees in management allow the student to engage intensively in the many issues that responsible business and entrepreneurs need to understand. Finance is a critical one of course, but as most modern businesses contribute

Management skills apply in many different sectors 

The range of potential management masters degrees extends into all areas of business life. There is a big market for management masters degrees linked to specific industries. Sports Management, Retail, Hospitality, Science and Engineering are all areas of employment that encourage management masters degrees.

Some business sectors experience seasonal declines and the mix of skills can change. However, the versatility of a management degree is a key advantage that management masters graduates have over their counterparts.

 MBA vs an MA in Management 

The MBA is recognised by employers as the standard qualification for potential business leaders. However many prospective MBA candidates do not reach the requirements to take an MBA because they don’t have enough experience at a supervisory level.

This can present a paradox for students from overseas because it can be much harder to achieve the necessary experience due to a lack of qualifications. The solution to this is resolved by completing a masters in management. Many universities and business schools will welcome applications from international students to study a masters in management so long as the have achieved a good undergraduate degree and (if they are intending to study in the UK) their standard of English is sufficient for study purposes.

The outcome for the student of an MA in Management rather than an MBA can in some instances be better. The individual will have completed the academic training much earlier rather than having to accumulate many additional years in the workplace before undertaking masters study.

The role of a Business School

You don’t have to study a management masters degree at a Business School, but there are certain advantages. They will have an academic structure built around research, and this informs the quality of the teaching and their international reputation. Business Schools provide an excellent environment for business and economics masters students to experience all the factors that effect modern complex businesses. Some are part of a university while others operate as individual institutions.

Many masters students choose their course based upon the availability of part time courses or blended learning and also fully online. Choosing how to study a masters degree in business is just as important as where you study it.

Rankings and reputation in management education

Business schools achieve international rankings, and through external validation bodies, such as AMBA, AACSB and EQUIS. Business Schools that have achieved the ‘triple ranking’ are among the most sought after by applicants and academic staff. The investment in academic research also means that the portfolio of taught courses is more diverse than typically found in smaller departments. This does not mean that a degree awarded by a different university is any less than one awarded by a well-known Business School.

Many people dream that their big idea can be turned into a money-making venture. A masters in management, business and economics provides the core knowledge and expertise to turn those ideas into reality.