Master in Business Economics


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The Master of Economics in Business Economics Program was first launched in 1992 (B.E. 2535). It offers fundamental body of knowledge in economic theories and quantitative techniques, both of which proven to be valuable for serving the demands of the private and public sectors.

The Program was recently revised in 2017 to meet the needs in a dynamic business environment. The structure of our program ensures flexibility in students’ education. Three majors are currently offered under the program, namely, International Business, Project Analysis, and Business Finance and Banking. Obtaining a double-major degree and non-major degree is also possible. By combining courses, students can fine-tune their personal profile according to their own interests and career aspiration.

Program Philosophy:

The program emphasizes the acquisition of economic theoretical knowledge and quantitative methodology thus enabling graduates to apply economics to practical scenarios. Not only our MBE graduates are with strong ethical values, but they also strive to improve their knowledge and ability in the constantly changing global economic environment.

Program Objectives

  1. To produce graduates capable of applying knowledge in economics to serve the demands of private and public sectors as well as society.
  2. To enhance the graduates’ potential in developing economic knowledge and in applying economic concepts to practical scenarios.
  3. To instill professional ethics in graduates.
  4. To develop the graduates’ skills for the workplace.

Expected Learning Outcomes

  1. Apply economic theories, econometrics, quantitative techniques and modeling skills to serve the demands of private and public sectors as well as society.
  2. Employ up-to-date and appropriate research tools for modeling, analyzing and interpreting data in order to solve relevant problems.
  3. Engage in lifelong learning, career advancement activities, and keep up-to-date with knowledge and emerging technologies.
  4. Integrate and synthesize sustainable development concepts in the broader context of the organization and society.
  5. Communicate effectively in writing and speaking.
  6. Possess thought leadership and accountability and be an effective team member.
  7. Adhere to professional ethics and maintain societal responsibilities.


Plan A

Plan B

1. Remedial Courses

No credit

No credit

2. Basic Courses

6 credits

6 credits

3. Core Courses

9 credits

9 credits

4. Major Courses

9 credits

9 -  15 credits

5. Elective Courses


3 - 9 credits

6. Independent Study

3 credits

7. Thesis

12 credits

8. Comprehensive Examination





Total credits

36 credits

36 credits

Program Structure

Course Description

Remedial Courses (No credit)

ND 4000 Foundation for Graduate Studies 3 credits

An overview of Thai government, Thai economy, Thai business, Thai society, codes of ethics for executives and academics, personality development, physical and mental health, the Constitution of the Kingdom of Thailand, Thai for communication, academic report writing, and sufficiency economy and development.

LC 4001 Reading Skills Development in English for Graduate Studies 3 credits

This course is aimed at enhancing students’ understanding of English structure such as sentence types, core parts, headwords and modifiers. This will enable students to develop their English reading skills necessary for academic texts and research papers. Emphasis is placed on developing students’ skills in reading for main ideas, drawing conclusions and making inferences, using context clues to arrive at the meanings of unknown words, skimming and scanning, and developing their discourse competence, including critical reading skills.

LC 4002 Integrated English Language Skills Development 3 credits

Course contents and teaching activities focus on the integrated skills of listening, speaking, reading and writing with a particular emphasis on academic writing at the introductory level.

LC 4011 Remedial Reading Skills Development in English for Graduate Studies 3 credits

This course is intended to provide additional practices in the reading skills and strategies covered in LC 4001. Students receive individualized attention to enhance their reading skills for academic purposes. 

LC 4012 Remedial Integrated English Language Skills Development 3 credits

This course is intended to provide additional practice in the four skills listening, speaking, reading and writing strategies covered in LC 4002. Students receive individualized attention to enhance their communication skills in English.

BE 4010 Mathematics and Statistics for Business Economics 3 credits

The course focuses on applying basic mathematical techniques to analyze and construct economic models. The focus is on interpretation of economic data, analyzing of data, basic probability theory, sampling and survey design, statistical inference, hypothesis testing, correlation, simple regression, concluding and presenting the statistical analysis.

Basic Courses

BE 5010 Fundamentals of Accounting and Finance 3 credits

This course aims to provide students with knowledge of basic accounting and financial statement analysis for business decision making. The course also offers basic tools for financial management including time value of money and its applications, risk and return concept, term structure of the interest rate with applications to financial assets, cost of capital, as well as basic capital budgeting analysis.

BE 5020 Applied Econometrics and Business Forecasting 3 credits

The course aims to provide students with knowledge of basic quantitative tools for estimating the relationships between various economic variables focusing on ordinary least squares (OLS) method. This course also covers other non-standard models and forecasting time series of economic and business variables as well as the application of econometrics by studying relevant and practical works.

Core Courses

BE 6010 Microeconomics 3 credits

The course provides an introduction to the economic way of thinking and the role of the government in the economy. The course also covers consumer behavior and market demand, theory of production and cost, market structure and the determination of market price. Game theory and decision-making process, input market, income distribution, market failures and their solutions are also included.

BE 6020 Macroeconomics 3 credits

The Macroeconomics course focuses on interconnection among four economic agents, which are household sector, business sector, public sector and foreign sector. This course emphasizes the long-run economic growth as well as the short-run economic fluctuation analysis. The impacts of government policy on private sector are also discussed.

BE 6030 Economic Policy and Business Environment 3 credits

This course provides the foundation of economic policy with an aim to provide a better understanding on the direction of economic policies and the impacts on private sector. The course covers issues such as market mechanism, government market intervention measures and their distortion, the provision of public goods, externalities, information asymmetry, competition law and state enterprise policies. On macroeconomic policies, the course covers both fiscal and monetary policies aimed at achieving economic stability and enhancing long term economic growth. The final section covers policies aimed at reducing poverty and income inequality.

Major Courses

BE 7000  Industry and Organization Strategy 3 credits

This course aims to provide students with fundamental knowledge of industrial organization and managing industrial organization in global environments. The course covers the organizational strategy development, including the design of industrial organization structure, culture and strategy. Types and forms of organizational change and the techniques of strategic management are also discussed.

Project Analysis

BE 7011 Investment Project Analysis 3 credits

This course aims to provide students with knowledge of basic methodologies for the analysis of the financial and economic feasibility of investment projects in public and private sectors under different types of market structures. The broad areas of interest include costing of projects, investment criteria (NPV, IRR, B-C Ratio) measures, the social costs of investment, with and without project analysis, appropriate discount rate, issues of conversion factor, and project sensitivity analysis. Social costs of investment (environmental and health impacts) are also discussed.

BE 7012 Project Planning and Management 3 credits

This course aims to provide principles of project planning and management. It exposes the students to the context, framework, rationale, and methods of planning and evaluating, as well as management of development projects. It covers demand and market analysis, technical and financial analysis, and economic, environmental and social impact analysis. The course also deals with the transformation of an organization's plan into a business plan and project plan, conversion of a project's strategic plan into project implementation plans and feasibility analysis, as well as the preparation of project analysis reports.

International Business

BE 7021 International Trade and Business 3 credits

This course focuses on international trade and investment theory and policy study, the impacts of economic cooperation and integration on the economy and business under globalization process. The international microeconomics is applied to analyze the transitions of socioeconomic, international economic policy, and the role of international institutions influencing international business operations and practices. The essential of international business strategy and competitiveness facing the dynamics of global economic atmosphere is also discussed.

BE 7022 International Finance 3 credits

This course provides fundamental knowledge of international finance and policy study, the changing of international financial system, and the structure of international capital mobility, as well as its impacts on the economy and local business. The course covers global financial landscape, forecasting of exchange rate volatility and exchange rate risk management. In addition, firm’s foreign investment strategy, political risk management, and evaluation of international investment project are discussed.

Business Finance and Banking

BE 7031 Financial Market and Institutions 3 credits

This course gives fundamental knowledge on the structure, function and role of the financial system and institutions in light of the interconnections with the economy. It covers topics such as the determinants of interest and exchange rates, financial investment theories, financial innovation, capital and money markets, bank asset and liability management, and financial regulation. In addition, the course analyzes the impact of monetary policies on the economy.    

BE 7032 Business and Financial Analysis 3 credits

This course provides qualitative and qualitative tools and process for analyzing business in various aspects, including business risk, financial risk, and investment analysis. Credit analysis and management as well as loan structure are covered from both lenders and customers’ perspectives. The course also covers modern sources of fund raising from financial institutions, capital markets, and alternative sources using relevant case studies.

Elective Courses

BE 7100 Economics for Operation and Marketing Management 3 credits

This course focuses on the relationship between production and marketing management in business. Theory of production, which is the economic process, including planning, executing and controlling of process converting inputs into outputs, using resources to create a good or service that is suitable for exchange in a market economy are discussed.  Besides, the course covers the study of the marketing strategy to increase sale and develop the market.  Techniques of sale forecast and market analysis to efficiently support market planning process are discussed. 

BE 7200 Economics for Personnel Management 3 credits

This course provides the theoretical analysis of personnel management for organizational competitiveness.  Topics include organizational structure and job design, employee selection and hiring, job assignment, investment in skills, performance evaluation and incentives, compensation and benefits, and layoff. 

BE 7300 Sufficiency Economy Philosophy and Sustainable Business 3 credits

This course aims to provide students with the concepts of Sufficiency Economy Philosophy (SEP) and its application in various levels: individual, community, society and country. Case studies of SEP applications in business are discussed. The course also covers the application of the SEP as decision making means leading the firm to achieve the sustainable business goals. Empirical research development for knowledge extension for SEP is also discussed.

BE 7400 Enterprise and Business Risk Management  3 credits

This course aims to provide students with the philosophy, objectives and concept of the business and enterprise risk management. The course covers the risk management process including risk identification, risk impact analysis, risk control and management techniques, and risk monitoring and evaluation.  This course also provides knowledge on crafting the organizational culture and communication process to ensure achievement of risk management objectives are also discussed. 

BE 8001  Workshop in Business Economics 3 credits

This course is to assist students to develop research proposal under advisors’ supervision.   Students will learn how to set research questions and choose the appropriate research methodology and data analysis techniques to solve the research problems and be able to present their works to others.    

BE 8800 Directed Studies 3 credits

This course offers students the opportunity to study some specific topics or issues in development economics and/or business economics related to the students’ selected field and useful for their research projects.

Independent Studies

BE 9000 Independent Studies 3 credits

This course is to assist students to do their research projects with the advisors’ supervision.  Students will learn and practice how to apply their knowledge in business economics to solve business and economic problems in their research projects. Moreover, students will be trained to be able to effectively present their works to others.   


BE 9004 Thesis  12 credits

This course offers students the opportunity to work on a specific research topic in the field of business economics under the guidance and supervision of a main thesis advisor and comments from thesis committee. The focus is to utilize knowledge in business economics as well as research and analytical skills in developing the outstanding academic research paper with local or international standards for publication.

Learning Methodology



1) Applicants must hold a bachelor’s degree in any field accredited by the Office of the Higher Education Commission (OHEC).

2) In case of Written Examination, applicants must have work experience in any field at least one year and bachelor’s degree graduation.

3) In case of Interview Examination, applicants must have work experience in any field at least one year after bachelor’s degree graduation.

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