A master's degree is a postgraduate academic degree. One must already have an undergraduate degree to apply for a master's program. Most master's degree program would require students to complete a master's thesis or research paper.
Aside from the distinguishing between microeconomics and macroeconomics, students who are studying economics must also learn the difference between positive economics and normative economics. The former deals with that which is, while the later deals with that which ought to be. Other distinguishing characteristics include economic theory and applied economics.
Latvia has both fee-paying and state-financed higher education. The country has two kinds of higher education courses. These include the academic and professional programs. There are three levels of academic higher education – bachelor’s, master’s and doctoral studies. The climate in the country favors various winter sports and recreation activities such as ice skating, skiing and ice hockey. International students prefer studying in Latvia due to its social life, arts and cultural institutions. The country’s culture is easy to adopt to.
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