Is it Possible to Do a Master’s in Economics from a Business Management Bachelor’s Degree?

Transitioning from a business management bachelor's degree to a master's in economics may seem daunting, but it is certainly possible. In the UK, and in many other countries, the path to earning a master's in economics can be navigated with a business management background. In this article, we explore the different pathways and considerations for those looking to make this transition.

Evaluation of Requirements for Different Master’s Degrees

The requirements for a master's in economics can vary depending on whether you are aiming for an MA, an MSc, or an MRes. Here's a breakdown of what you need to consider:

MA in Economics: An MA is generally less quantitative and may be more flexible. It typically does not require a strong background in mathematics. If you possess a business management degree, you may be able to pursue an MA in economics due to the less mathematical nature of the program. MSc in Economics: An MSc is more likely to require a more robust background in mathematics and statistics. If you lack this background, you may need to take additional courses to meet the prerequisites. Alternatively, you can complete a graduate diploma in economics, which can provide the necessary grounding in economics and quantitative methods before applying for the MSc. MRes in Economics: An MRes is typically research-oriented and may require extensive knowledge in economics and related quantitative disciplines. If you are transitioning from a business management background, you may need to take preparatory courses or gain additional experience to meet the research requirements.

Complimentary Learning Paths

A business management bachelor's degree and a master's in economics can be highly complementary. The business management background can provide you with a strong foundation in management and business operations, while the economics master's can deepen your understanding of economic principles and theories. This combination can be particularly advantageous if you are seeking a career in fields such as finance, policy analysis, or business strategy.

Prerequisites and Application Process

Regardless of your undergraduate major, you will need to meet the specific prerequisites and requirements for the master's program. If your business management degree lacks the necessary background in economics and quantitative methods, you may need to complete additional courses or apply for a graduate diploma program. It is important to check directly with the universities where you plan to study for detailed guidance on the specific requirements for their master's programs.

Time and Effort Commitment

With the right preparation and dedication, completing a master's in economics from a business management bachelor's degree is certainly achievable. It may take approximately 2 years to complete a master's program, but the time frame can vary based on your chosen pathway and the institution's requirements. The journey may require some additional effort in terms of coursework or preparatory work, but the potential benefits of a deeper understanding of economics can be significant.

Examples and Success Stories

Many individuals have successfully transitioned from a business management background to a master's in economics, proving that it is a viable pathway. For instance, there are graduates who have completed a master's in economics even if their undergraduate degree was in sociology, public administration, or other non-economic fields. These success stories highlight the flexibility and potential of the economics field and serve as encouragement for those considering a similar transition.

Conclusion

Transitioning from a business management bachelor's degree to a master's in economics is possible with the right preparation and perseverance. Whether you pursue an MA, MSc, or MRes, the path may require additional coursework or preparatory steps. By researching the specific requirements, preparing adequately, and fully committing to the process, you can achieve your academic and career goals in economics.