Possesive form

[Ethioman]

I am very confused with an international degree naming and about to comment on the English of one of the best country in the world, The Netherlands. The common degree naming is "Master of Science or Art in a certain field. Universities in the Netherlands write "Master's diploma' as a heading and below to it they write the full name 'Master of Science or Art in a certain subject. It is true that English is a second language for Holland. But I must hear from natives about this reality. Master's diploma means 'Master is diploma' or 'the diploma of Master' based on the way we read and interpretate the apostrophe. When I was an undergraduate student, I wrote a wrong statement not due to knoweldge, but due to rushing. It was its instead of it's. Its means the possesive form. It's means it is. As I said this mistake of me was due to rushing. Otherwise this was covered as a subject in my primary school English. So now the Master's diploma looks 'Master is diploma'. The other explanation could be the diploma of master. The Netherlands never answer to my question. I can not comment on them as it is not their first language. Do you know analogus degree naming?. Please tell me the experience of other countries. I already assumed I do not have MSc degree because of the way the English is written. Please assist me in this direction. Natives always have solution for our confusion.

[DavyBCN]

I think this is a problem common in the UK also - the incorect positioning of the apostrophe. To me it should be Masters' Degree - the Degree of Masters. My logic is that it is a degree awarded to people who master the subject, and the plural apostrophe is needed.