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A Masters Degree is a Graduate Degree.
What this means is that one is (usually) extending their education beyond their Bachelors Degree. Depending on the subject, a Masters degree can mean many different things. But on most occasions, what you will find is that someone specializes in one or two areas within their field.
For example, the person who gets a Bachelors Degree in electrical engineering, and then goes on to get a Masters, might be a specialist in semiconductors, robotics, or a host of other subfields in the engineering profession. Likewise, a person who gets a Bachelors Degree in history, might return to get a Masters Degree in Latin American history.
In general, a Masters curriculum is challenging, and in many cases the programs are highly selective. Also, it is very common to sum up one's degree by the completion of a Thesis. This is usually a scholarly research paper ranging from 40 to 150 pages.
It is safe to say that the more advanced degree one is pursuing, the more specialized their course of study becomes. This is emphasized even further in the acquisition of a Ph.D.
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