The full form of MPhil is Master of Philosophy. It is a postgraduate academic research degree that is typically pursued after completing a bachelor's degree.
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It depends on the context. Generally, "philosophy" is not capitalized when referring to the subject in general, but it is capitalized when specifically referring to the academic degree or program, such as a Bachelor of Philosophy.
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I have never been made aware of an associates in philosophy.
Typically, students who plan on pursuing a bachelor's in philosophy
start with an associates of arts in liberal arts at the associates
level. It fits the intended degree nicely.
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Your academic studies after you earn a bachelor's degree can be:
Post-bachelor study
Masters Degree
Doctor of Philosophy Degree
Or any other professional degree -- lawyer, doctor, and so forth, that you earn and are awarded. All degrees have names and initials associated with them.