Metal-C core-shell nanoparticles have been recently demonstrated to be promising candidates for microwave absorption applications. However, the underlying absorption mechanism, such as the contributions of the metal cores and C shells on their absorption performance, remains far from clear due to the complicated interfaces and synergetic effects between metal cores and C shells, as well as the significant challenges in the preparation of samples with well-defined comparability. In this study, Cu-C core-shell nanoparticles and their derivatives, i.e., bare Cu and hollow C nanoparticles, were synthesized for a comparative study on their microwave absorption properties. Electric energy loss models of the three samples were established, and based on these models, the comparative study suggested that the polarization loss could be significantly improved by C shells, and Cu cores had negligible influences on the conduction loss of Cu-C core-shell nanoparticles. The interface between C shells and Cu cores tuned the conduction loss and polarization loss to establish improved impedance matching and achieve optimal microwave absorption performances. A wide effective bandwidth of 5.4 GHz and a low reflection loss of -42.6 dB were achieved for Cu-C core-shell nanoparticles. This work provides new insights into how metal nanocores and C nanoshells affect the microwave absorption of core-shell nanostructures from experimental and theoretical points of view, which has reference values for the construction of highly efficient metal-C-based absorbers.