Australian masters degrees in business, management, commerce or economics
Students contemplating studying a Masters degree in business, face a bewildering array of options. The range and diversity of Masters Degrees in the Business/Management/Commerce/ Economics fields is extensive and the choice of a suitable degree for an individual student will depend on a wide range of considerations relating to the students backgrounds, their career aspirations and the availability of suitable programmes. 
Perhaps, the most fundamental distinction between programmes is that of a "generalist" and "specialist" Masters degrees. The most popular "generalist" graduate business degree is the Master of Business Administration (MBA) which has become almost universal across the world. This is certainly the "default" option in the USA although in Australia it has been challenged in student numbers by Master of Commerce and Master of Business Administration programs. In Australia, MBA programs were originally the choice for students holding a "non-business" first degree (frequently engineering) who usually wanted to change career paths from a technical role to a senior management one. MBA graduates might therefore be seen as ideal candidates for "General Manager" roles. MBA programs have also typically required minimum working/managerial experience of up to five years. For those students who lack a first business-related degree and who wish to move into management, the MBA is a logical and sound choice.
At the "specialist" end of the spectrum, there are a range of Masters Degrees which focus on industry and professional education, often with accreditation with the relevant professional bodies, such as CPA, and the Institute of Actuaries. These masters' degrees are usually offered to students holding the relevant undergraduate degrees in the professional field, although students may also take these degrees through "transitional" programs. For instance, the Macquarie University Actuarial Studies and Professional Accounting programmes offer Masters Degree pathways to professional accreditation to graduates who come from "non-cognate" (i.e. unrelated) degrees, in addition to those whose undergraduate degrees are in the same field.
Beyond those Masters degrees which offer professional accreditation, there are also a wide range of specialized Coursework Masters degrees, for those whose first degrees are from the business/commerce, management and economics fields. Such programs typically have no workplace experience requirements. Coursework masters degrees are for those graduates who aspire to reach the highest levels of technical expertise and management in their chosen fields, for example, as Directors of Finance, Marketing, or Human Resources. In this context, Master of Commerce or specialized Masters in International Business, Economics or Master of Business degrees with specializations are offered at most Australian Universities. The Master of Applied Finance is offered through Macquarie University's Applied Finance Centre and it is considered a world leader.
Students can expect to complete a coursework master's degree in their chosen field of specialization over one year. There are two further important considerations when contemplating a suitable Masters by coursework program. One concerns minimum English standards, and most Australian universities will insist on minimum English standards as evidenced by IELTS or TOEFL or equivalent tests.
The range of courses is extensive and students holding a first degree should have little difficulty in finding a Masters program which closely matches their circumstances and their professional and personal aspirations. My own advice after having spent a career involved in teaching in Masters Programs across the world is that above all, in deciding on your degree and University; choose quality and reputation over price or expediency.
"Contributors: The Learning Curve Magazine issued by The Chopras"
