Is MSc in Management or International business a good postgraduate degree? Watch
MSc in Management: It is more traditional and provides core modules such as accounting, finance, marketing and quant analysis. It is useful for undergrad outside BA business. Some MScs in Management offered by established unis are excellent.
International Business: very similar, but some modules may address international aspects with some specific case studies. Some electives may be intercultural management, transnational markets, int. marketing.
I would look at modules and teaching methods closely (case studies, lecture, group based projects, consulting work and dissertation). It depends on your career goals and how the MSc can help in terms of personal and professional development (recruitment opps, see career report).
Have you done any internships? It helps to test the water and it strengthens your application.
I have a 2.1 in BSc Physiology from UCL but there are not many jobs that I can apply for with my degree.
From my experience, it's better if you have some idea as to what you want to be doing, management is quite varied - marketing, accounting, human resource, operations. From my guess, as a psychology graduate you'd probably like marketing or human resource more than accounting/finance or operations (grab a standard book on each and have a read, Kotler's principles of marketing and Mullin's Management & Organisational Behaviour, though that's just one aspect of HRM).
Also, a one year master course doesn't provide you with sufficient knowledge in all of these to be able to compete for a job in a "management role" but might get you better chances for a grad scheme, and you'd also have difficulties competing for a more specific job role, say as an accountant or marketing assistant.
Important is that you check the programme's structure very careful, how much time is spent on each aspect of management and can you specialise through a good choice of electives.
MSc in International Business/Managment
These are slightly different as they put a global perspective on things, e.g. you'd be looking at global supply chain management and the challenges of sourcing your material from multiple countries, or how you can expand into new markets.
Again, think of the job market thereafter, employers would prefer it if you had some international exposure / are able to speak at least a second language and have experienced other cultures (not on holiday trips).
These programmes attract a fair amount of international students - normally more than the pure management programmes. They should also provide you with team projects where you can explore cultural differences first hand (check programme descriptions!). Some universities may also allow you to learn a second language while on a course with them - I know of one university that's currently exploring the idea of a language course for all students, aiming to introduce something for 2014/15.
Most MBA's require that you've got at least 3 years relevant work experience, though there are some out there that don't: Cardiff University's MBA for example doesn't.
They've got a few other interesting programmes as well, including a couple of those specific management functions and an International Management one but check out their Business Strategy & Entrepreneurship.