Spain, officially the Kingdom of Spain, is a sovereign state and a member state of the European Union. It is located on the Iberian Peninsula in southwestern Europe. Spanish universities regulate access to their degrees, and they fix the academic fees. They can also offer unofficial postgraduate degrees. Madrid has the largest number of bars per capita of any European city and a very active nightlife.

A master of business administration (MBA) is a professional degree given to those who study business management at a business school. Various forms of analysis and strategy are covered including operations, marketing, finance, and accounting.