Academic degree

An academic degree is the state of recognized completion of studies at a school or university. A diploma is generally issued in recognition of having satisfactorily completed the prescribed course of study. The two most common degrees awarded today are associate and bachelor's.

Higher education institutions commonly offer master’s, doctoral, academic certificates, and professional degrees.

Overview

The modern academic system of academic degrees evolved and expanded in the medieval university, spreading everywhere across the globe as the institution did:

Emergence of the doctor’s and master’s degrees and the licentiate

The doctorate (Latin: doceo “I teach”) appeared in medieval Europe as a license to teach (Latin: licentia docendi) at a medieval university. Its roots can be traced to the early church when the term "doctor" referred to the Apostles, church fathers and other Christian authorities who taught and interpreted the Bible. The right to grant a licentia docendi was originally reserved to the church which required the applicant to pass a test, to take oath of allegiance and pay a fee. The Third Council of the Lateran of 1179 guaranteed the access – now largely free of charge – of all able applicants, who were, however, still tested for aptitude by the ecclesiastic scholastic. This right remained a bone of contention between the church authorities and the slowly emancipating universities, but was granted by the Pope to the University of Paris in 1231 where it became a universal license to teach (licentia ubique docendi). However, while the licentia continued to hold a higher prestige than the bachelor's degree (Baccalaureus), it was ultimately reduced to an intermediate step to the Magister and doctorate, both of which now became the exclusive qualification for teaching.

Master of Business Administration

The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.

The MBA is a terminal degree and a professional degree.Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive, and distance learning students, many with specialized concentrations.

History

The first graduate school of business in the United States was the Tuck School of Business at Dartmouth College. Founded in 1900, it conferred the first advanced degree in business, specifically, a Master of Science in Commerce, the predecessor to the MBA.