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a Master Electrician is the person who has the educational and practical experience to perform electrical work according to NEC "National Electric Code". although others like a journeyman can perform those duties, the master electrician hold more education and able to certify electrical work.
where and electrical contractor is a company which is licenced to obtain and perform electrical contracts. whoever, and electrical contractor can't perform have their licence without a master electrician being on board. in other words, an electrical contractor must maintain a valid master electrician and it own contracting license
some states allow a person to be a contractor using his own SSN, in this case a master electrician could be also the contractor.
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