Many outstanding universities offer undergraduate degrees in economics to students interested in a business career, rather than a generalized degree in business administration. They regard the various specialized areas of economics as the foundation stones of business knowledge. Economists enter the business world in specialized, technical capacities. They advise those in management positions what decisions to take and they do the technical work once management has made a decision. Experience in the technical departments of the business world combined with the academic training an MBA program offers makes one eligible for top management positions. An MBA teaches management skills and the specialized knowledge of how to lead a company in today's gobalized market. Of course, there are young people who reach management positions without an MBA. Indeed in today's Hi-Tech world there are those who reach management positions without any degree whatsoever. They had the brains; they demonstrated business acumen in practice; they were entrusted with responsibilities beyond their years, and they proved worthy of that trust. These people are often even more attractive to MBA schools than university graduates. They are accepted without an undergraduate degree or GMAT on the basis of their outstanding business record. Why would those already in a management position want to do an MBA? For personal reasons: they might feel that they missed out on the college experience. They might feel that they would like to acquire a body of knowledge that is broader and more academic than the knowledge they have acquired in their particular business. For career reasons: they might sense that as high as they have risen in their company they will be denied the CEO position because they lack academic experience. In other words, the time has come that they want university experience for a combination of reasons.