Then what do students study after acquiring their "first degree"? After that, there are those degrees which a university gives for the successful completion of a piece of research. The MA (or Master of Arts), the MSc (or Master of Science) and the MBA ( or Master of Business Administration) are the ones most frequently awarded here at postgraduate level. At one time these degrees were awarded only for the completion of research work; but over the past twenty years or so a large number of additional Master degrees have been introduced which combine a quite small piece of research with a substantial amount of course work on which the student is examined. Then there is Doctor degree, right? Yes. It is called Ph.D. (or Doctor of Philosophy), which is the most prestigious research degree. It is awarded for a piece of research which shows great depth and considerable originality. It is expected to make a significant contribution to our knowledge of and understanding of a problem. It usually involves at least four years full-time research.