Bachelor of Commerce (abbreviated BCom, B.Com., BComm, or B.Comm.) is an undergraduate degree in commerce.
Master of Commerce (MComm or MCom) is a postgraduate Masters Degree focusing on commerce, management and economics related subjects.
The Master of Commerce typically requires one year of full-time study. The curriculum 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:
Its concentration on one area distinguishes it from generalist degrees, such as the MBA; Some universities offer the MComm in general management, although this is more similar to the Master of Management than to the MBA.
As compared to specialised Professional degrees – such as the Master of Science in Finance or Master of Accounting – the MComm places more emphasis on theory, 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 Management.
Admission is usually on the basis of an existing Bachelor’s (or similar compatible) degree, generally the Bachelor of Commerce. 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 Business Administration (MBA or M.B.A.) is a master’s degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, finance, marketing, human resources, operations management, etc. Students in MBA programs have the option of taking general business courses throughout the program or can select an area of concentration and focus approximately one-fourth of their studies in this subject.
Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education. Business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations.