The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.
Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about sixty credits, nearly twice the number of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.
The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.
A general MBA program covers several important business disciplines, including economics, human resources, marketing and business policy. Students can usually choose an area of business specialization, such as human resources, marketing or international business. Programs are available in both online and on-campus formats, with internship and study abroad opportunities offered to all students. Applicants must have a bachelor's degree and submit professional recommendations and GMAT or GRE scores.
In MBA programs, students start by completing a general program curriculum and then choose elective courses in their areas of interest. Common course topics include:
Popular Career Options
Most students complete an MBA program with the aspiration to work in top management positions. Students may already be employed in management and complete a program in order to qualify for a promotion. Students may qualify for management positions within a variety of industries such as:
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