The Master's Degree in Economics and Business

Abstract

PROBABLY upon no subject in the field of higher education is there less agreement than on the question of what are the desirable prerequisites and requirements for a Master's degree in economics or business. This is partly because we do not know precisely what our objectives are in giving graduate work in this field. Especially is this true of programs for the Master's degree in business. With candidates for the degree, in economics, the problem has been easier, since traditionally the graduate students in economics have been chiefly persons who have wanted to teach. The year or two of graduate work for them which has been rewarded by a Master's degree has thus ordinarily been part of a longer program leading to the doctorate, concluded either in residence or elsewhere at some later time. But most candidates for the Master's degree in business have no such ultimate academic objective. They want the actual year or two of work beyond their undergraduate business course merely to carry their mastery of the field, or of some subdivision of it, than their undergraduate work has done. But just what somewhat farther here means is something to which relatively few students themselves have given any great amount of thought. To be sure, some of them undeniably wish to specialize-to do most of their work in banking, in finance, or in accounting. Others desire a less intensive training in one field, but want to cultivate rather carefully several fields, while still others place themselves in the hands of their advisers as though they were clay and say Here, make something out of me. To which the experienced observer, who has seen numerous degreechasers of this sort before, is tempted to remark, Yes, just try and do it! Since there is no consensus as to whether or not the aim of the Master's degree should be primarily to train specialists, to train research men, or to give just general training for business, I shall assume