Master of Commerce
Encyclopedia
Master of Commerce is a postgraduate Masters Degree focusing on commerce
-, management
- and economics
-related subjects. Like the undergraduate Bachelor of Commerce
, the degree is offered in Commonwealth
nations.
is usually concentrated on one subject area — such as accounting, economics
, statistics
, finance
or marketing
— and emphasises underlying theory
. Relatedly, programs usually include a thesis
component, or may even be exclusively research based.
Given this structure, the MComm differs from other business and management degrees:
Admission is usually on the basis of an existing Bachelor's
, or similar compatible, degree, generally the Bachelor of Commerce
; often, an "Honours degree" will be required. Depending on the degree focus, a related undergraduate major and / or a fairly strong quantitative background may also be a prerequisite. Some programs admit students from non-business backgrounds such as liberal arts
, engineering, or the sciences - these programs usually require that students complete a bridging course.
The Master of Commerce includes a research component and thus provides access to a doctorate
; progressing from the Master of Commerce, a student can pursue a Doctor of Commerce (D.Comm), Doctor of Business Administration
(DBA), or a Doctor of Philosophy
(Ph.D) degree program.
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Commerce
While business refers to the value-creating activities of an organization for profit, commerce means the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any...
-, management
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
- and economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
-related subjects. Like the undergraduate Bachelor of Commerce
Bachelor of Commerce
A Bachelor of Commerce is an undergraduate degree in commerce and related subjects. The degree is also known as the Bachelor of Commerce and Administration, or BCA...
, the degree is offered in Commonwealth
Commonwealth of Nations
The Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an intergovernmental organisation of fifty-four independent member states...
nations.
Structure
The Master of Commerce typically requires one year of full-time study. The curriculumCurriculum
See also Syllabus.In formal education, a curriculum is the set of courses, and their content, offered at a school or university. As an idea, curriculum stems from the Latin word for race course, referring to the course of deeds and experiences through which children grow to become mature adults...
is usually concentrated on one subject area — such as accounting, economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, statistics
Statistics
Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....
, finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
or marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
— and emphasises underlying theory
Theory
The English word theory was derived from a technical term in Ancient Greek philosophy. The word theoria, , meant "a looking at, viewing, beholding", and referring to contemplation or speculation, as opposed to action...
. Relatedly, programs usually include a thesis
Thesis
A dissertation or thesis is a document submitted in support of candidature for an academic degree or professional qualification presenting the author's research and findings...
component, or may even be exclusively research based.
Given this structure, the MComm differs from other business and management degrees:
- Its concentration on one area distinguishes it from generalist degrees, such as the MBA; Some universities offer the MComm in general managementManagementManagement in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
, although this is more similar to the Master of ManagementMaster of ManagementThe Master of Management is a post-graduate master’s degree awarded to students who normally complete a one to two year program of graduate level coursework in business management at an accredited academic institution. As the program is designed for students interested in entering leadership...
than to the MBA. http://secure.financialmail.co.za/09/0918/cover/coverstory.htm - As compared to specialised Professional degrees - such as the Master of Science in Finance or Master of Accounting - the MComm places more emphasis on theoryTheoryThe English word theory was derived from a technical term in Ancient Greek philosophy. The word theoria, , meant "a looking at, viewing, beholding", and referring to contemplation or speculation, as opposed to action...
, http://secure.financialmail.co.za/09/0918/cover/coverstory.htm although sometimes less on practice; generally, though, there is a close correspondence between these degrees and the related MComm; see also Master of Science in ManagementMaster of Science in ManagementMaster of Science in Management, abbreviated MSc or MSM, is a Master of Science academic degree that is common throughout the United States and Europe. It is similar to the MBA degree, and often requires a dissertation before a graduate is admitted to it. The MSc is a research-oriented program...
.
Admission is usually on the basis of an existing Bachelor's
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
, or similar compatible, degree, generally the Bachelor of Commerce
Bachelor of Commerce
A Bachelor of Commerce is an undergraduate degree in commerce and related subjects. The degree is also known as the Bachelor of Commerce and Administration, or BCA...
; often, an "Honours degree" will be required. Depending on the degree focus, a related undergraduate major and / or a fairly strong quantitative background may also be a prerequisite. Some programs admit students from non-business backgrounds such as liberal arts
Liberal arts
The term liberal arts refers to those subjects which in classical antiquity were considered essential for a free citizen to study. Grammar, Rhetoric and Logic were the core liberal arts. In medieval times these subjects were extended to include mathematics, geometry, music and astronomy...
, engineering, or the sciences - these programs usually require that students complete a bridging course.
Post Graduation
Based on specialisation, graduates are typically employed in fields related to their degree focus, such as financial services, marketing and project management; graduates also often work in general management and business consulting http://www.uq.edu.au/study/program.html?acad_prog=5165.The Master of Commerce includes a research component and thus provides access to a doctorate
Doctorate
A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder to teach in a specific field, A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder...
; progressing from the Master of Commerce, a student can pursue a Doctor of Commerce (D.Comm), Doctor of Business Administration
Doctor of Business Administration
The degree of Doctor of Business Administration, abbreviated, or and equivalent to , is a research doctorate in business administration. The D.B.A...
(DBA), or a Doctor of Philosophy
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
(Ph.D) degree program.
See also
- Bachelor of CommerceBachelor of CommerceA Bachelor of Commerce is an undergraduate degree in commerce and related subjects. The degree is also known as the Bachelor of Commerce and Administration, or BCA...
- Master of ManagementMaster of ManagementThe Master of Management is a post-graduate master’s degree awarded to students who normally complete a one to two year program of graduate level coursework in business management at an accredited academic institution. As the program is designed for students interested in entering leadership...
- Master of Science in ManagementMaster of Science in ManagementMaster of Science in Management, abbreviated MSc or MSM, is a Master of Science academic degree that is common throughout the United States and Europe. It is similar to the MBA degree, and often requires a dissertation before a graduate is admitted to it. The MSc is a research-oriented program...
- Business schoolBusiness schoolA business school is a university-level institution that confers degrees in Business Administration. It teaches topics such as accounting, administration, economics, entrepreneurship, finance, information systems, marketing, organizational behavior, public relations, strategy, human resource...
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