An MBA is a university degree you take after your first degree. It teaches the skills you need to run a business: money, people, plans, and markets. The letters stand for Master of Business Administration. In many countries it is a well-known degree that people respect; in Taiwan you will hear “MBA” in English more often than the Chinese name. The same letters also name the person who has the degree: “She is an MBA” means she has finished that course, not that she is the course itself. It is not a first degree, and it is not a licence to be a doctor or a lawyer — it is extra study in business, often for people who already have a job.