To me, it depends with what you want to do and where in your career you are. If you don't have a couple years of substantive work experience after your bachelors graduation, a reputable MBA won't accept you. This is the case for me, only one year of post-grad work experience, so I am doing an MA in Economics in the fall.
The Applied Economics Masters will teach you how to be an analyst who can render opinions as to the value of things, and as to forecasting economic forces. The MBA is more geared toward business management and leadership.
Which do you see yourself being happier with? If you get the Masters in Economics now, you can get a job with a bank or financial services company, work for a couple years, then go to a really good MBA program, like a Harvard or a Stanford, and break into management then. If you get an MBA now, you use up that opportunity. This is my plan, but like I said above, it depends on your goals and preferences.
