A Master in Business and Economics vs a Master in Business Administration
Finding a suitable focus for your Master’s degree
After completing a Bachelor’s degree, it can often be difficult to decide between a Master in business and economics and a Master in business administration. The courses cover similar topics, but the two Master’s degrees have different approaches and core content.
After gaining a Bachelor’s degree in business and economics, it is not always easy to choose the right Master’s course for you. A Master in business administration already covers a broad spectrum of topics, but a Master in business and economics includes both business management and economics content. Both courses of study explore economic trends and contexts, but the course contents are different.
See the big picture with a Master in business and economics.
A Master in business and economics brings together the two branches of business administration and economics. If you’re interested in a holistic education and are keen to discover the processes and mechanisms of the economy as part of the bigger picture, a Master in business and economics is recommendable. The most important aspects of the two subjects are taught on such courses, and you will be exploring economic processes from the perspective of corporations as well as taking a macrosocial view. After learning about the theories and methods of business administration and economics, you can then, during the course of a Master’s program in business and economics, choose your own area of focus. Options include topics such as data science, accounting, and international management. It is always worth taking a look at the study regulations in order to find out what development opportunities are open to you during the course.
As a rule, the admissions requirements for a Master in business and economics include a Bachelor’s degree in business administration, economics, or similar. A good command of English is often an advantage since you will also be exploring international contexts during your Master’s course. The Master is offered partly or exclusively through the medium of English at a growing number of universities. Applicants are also often required to have some experience in the form of internships and to provide an enthusiastic letter of motivation.
With a Master in business and economics, you will have a number of options when you later come to choose a career. You will be able to work in many areas of the private and public sector. You will be given a thorough grounding in the management, planning, and organization of companies, and prepared for a career in a wide range of fields, e.g. in finance and accounting, logistics, controlling or marketing.
Versatility in the workplace with a Master in business administration.
A Master in business administration is recommended for students who want to keep their career options open and who do not want to specialize in a particular area for the time being. The core content of such courses is the organization and management of companies. With a traditional Master in business administration you will be optimally prepared for the challenges of company management. The curriculum covers topics such as HR management, information systems, accounting, and controlling. International management and elements of marketing also often make up part of the Master’s course. This will make you a true all-rounder, allowing you to apply for a wide range of jobs after you graduate.
As a rule, an initial degree in business is required for admission onto business administration Master’s courses, and a good command of English is a prerequisite. The aim is to further develop the knowledge and methods you acquired during your Bachelor’s course, and to place a special focus on one of the subdisciplines, e.g. accounting. However, there are also business administration Master’s that are open to graduates in other subjects. These cover more general theories and strategies of management.
The Master in business administration opens numerous doors for you in the professional world because the study content is more general. During the course, you acquire a broad spectrum of knowledge in different areas, and you do not commit to a specialty field. As a result, your versatility will allow you to fulfil a variety of functions, and you will have a greater choice of positions you can apply for. For example, you can start your career in business and HR consulting, HR management, or traditional controlling.
Career opportunities with a Master of Science at WHU.
Would you like to take on responsibility and solve challenges on an international level? WHU developed the Master in Management (MiM) Program for exactly that purpose. The English-language program combines elements from all areas of business and economics, and prepares students for a career in corporate management. Parts of the curriculum include traditional business administration elements, as well as modules in the field of marketing and sales, and supply chain management.
The course combines theoretical elements from the field of economics with the practical orientation of a Master in business administration. All WHU Master programs include an internship after the first two semesters. You are free to decide where you complete the internship – that can be in Germany or abroad. The world is your oyster! A semester abroad at one of 200 partner universities around the world is another opportunity to gain insights into other cultures and to deepen your understanding of international contexts.
Numerous workshops and guest lectures by successful businesspeople provide you with fascinating insights into the processes and challenges of everyday professional life. Events such as the annual Career Day are a great opportunity to network with top employers in industry so that you can start your career with confidence after completing your Master’s course. 89 percent of our students receive offers of employment within three months of completing their studies and can go straight into a job.
If you already know that you want a career in finance, you can apply to do the Master in Finance (MiF) at WHU. This course gives students a deeper knowledge in financial management.
If you would later like to found your own company, or have already started on that path, you also have another alternative option. WHU offers the Master in Entrepreneurship MiE (Master of Science), which gives you an understanding of innovative thinking and the latest developments in the start-up scene.