Far from being an expert on economics, what I can tell you is that your translation sounds pretty much accurate to me. I'm not sure but you could take a look at this link (is a quite famous Italian University "Bocconi"):
(...)
Sorry but I am not allowed to post the link because I'm a new member try to find something in their website, the keyword is "Università Bocconi", or you may even try to skim trough some other Italian universities which manly have a English version in their own websites: best of luck!
Ho sempre sentito parlare di colleghi laureati in Economics and/or Business Administration. Mai di business management ma per quello che ne so potrebbe essere una laurea nuova. Ciaooo
In AE, degrees in management, business management, business administration, and simply business are all understood to mean more or less the same thing.