Program

Master in Business Economics

Overview

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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 boarder 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. Recognize professional ethics and maintain societal responsibilities.

Courses

Plan A

Plan B

1. Remedial Courses

No credit

No credit

2. Basic Courses

6 credits

6 credits

3. Core Courses

15 credits

15 credits

4. Elective Courses

3 credits

 12 credits

5. Independent Study

-

3 credits
6. Thesis

12 credits

7. Comprehensive Examination

Comprehensive

Examination

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 4000    Mathematics and Statistics for Business Economics                                   3          credits

This course provides knowledge on fundamental mathematical techniques for economic applications. The topics include mathematical modeling, function, linear algebra, derivative and optimization. The aforementioned techniques can be utilized in determining equilibrium, forecasting impacts, and choice optimization. Additionally, fundamental statistics is covered in this course to assist students in data analyzing, forecasting, and behavioral predicting. The included topics are probability theory, statistical measures, distribution, and hypothesis testing.

Basic Courses

BE 5000     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. Students will learn about the estimating technique, potential problems related to OLS and how to fix them, and result interpretation. Special topics such as dummy variables, Logit model, Probit model and hypothesis testing are also covered. Basic time-series modelling which is useful in forecasting time-series variables is also explored.

BE 5001     Workshop in Business Economic Research                                                  3          credits

This course assists students in developing research proposals under advisors' supervision. Students will learn how to set research questions, review literature, 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 5002     Workshop in Business Consulting                                                                 3           credits

This course assists students in identifying problems in an organization or defining an organization problem or an organization consulting issue under advisors' supervision.   Students will learn how to set the problem or the consulting issue, review literature, choose the appropriate methodology to solve the problem or the consulting issue, and present their works to others.

Core Courses

BE 6001     Microeconomics and Business Decision Making                                          3          credits

The course provides the economic analysis of price and quantity adjustment in market equilibrium, consumer behavior, production theory, cost of production, market structures, theory of market price determination, market failures, impacts on the environment, efficiency in resource utilization, and implementation of appropriate policy measures.

BE 6002     Macroeconomics Analysis                                                                               3          credits

This course provides fundamental macroeconomic theory related to domestic economic environment analysis for planning business strategy. The course emphasizes understanding of macroeconomic variables and crucial indicators, effectiveness of monetary and fiscal policy, interactions between various sectors. The topics include the Aggregate Demand analysis based on the closed economy IS-LM model and the open economy IS-LM-BP model, and the Aggregate Supply (AS) model.

BE 6003     Fundamentals of Accounting and Financial Management                           3          credits                       

This course aims to provide students with knowledge of basic accounting and financial statement analysis for business decision making. The course also covers financial management decisions including investment decision, financing decision.

BE 6004     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 6005     Economics for Business Strategy                                                                   3          credits

This course aims to provide students with conduct and strategies under a variety of market competitions. Examples of strategies are business integration, entry or exit, and organizational structure design. It also covers industry analysis and strategic positioning

Elective Courses

BE 7001     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. Social return on investment is discussed. The course also covers applications of cost benefit analysis to small and medium enterprises.

BE 7002     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 project evaluation the preparation of project analysis reports.

BE 7003     International Business                                                                                     3           credits

This course focuses on international trade, international investment, and international finance theories. It covers the essentials of international business strategy and competitiveness facing the dynamics of the global economic atmosphere, including international cooperation and integration. The course also covers the analysis of exchange rates for business management and applies financial tools for managing exchange rate risk.

BE 7004     Digital Technology in Business and Economy                                                3          credits

This course aims to investigate how modern technologies- such as digitalization, artificial intelligence, blockchain, and 3D visual network- revolutionize business and economy. In the micro-perspective, students will learn how to use these technologies to create the value-added, to develop the business plan and strategies, as well as to be able to analysis the digital business model. In the macro-perspective, the impact of these technologies on economy will be studied. 

BE 7005     Data Analytic for Business Decision                                                                3          credits

This course aims to provide students with necessary computational skills. Dealing with the economic, business, and financial data, student will learn data management, spreadsheet creation, basic programming, for-loop algorithm, root finding, optimization, regression, basic machine learning, classification/clustering, and data visualization for business decision.

BE 7006     Sustainable Business and Policy                                                                      3          credits

The course introduces the concepts of sustainable development, climate change, international measures and the impacts on the Thai economy and businesses. The Sustainable Development Goals (SDGs) are discussed together with the notions of Bio-Circular-Green (BCG) model as well as low carbon economy and sustainable finance. To address such issues, appropriate policy measures will be developed to ensure sustainability for both organization and entrepreneur.

Directed Studies

BE 8801     Directed Studies 1                                                                                              1          credit

This course offers students the opportunity to study special issues in business economics that are up-to-date and useful for business applications

BE 8802     Directed Studies 2                                                                                              2          credits

This course offers students the opportunity to study special issues in business economics that are up-to-date and useful for business applications

BE 8803     Directed Studies 3                                                                                              3          credits

This course offers students the opportunity to study special issues in business economics that are up-to-date and useful for business applications

BE 8806     Directed Studies 6                                                                                               6         credits

This course offers students the opportunity to study special issues in business economics that are up-to-date and useful for business applications

 Independent Studies

BE 9000     Independent Studies                                                                                           3        credits

This course assists students in doing their research projects or suggesting a solution(s) to solve an organizational problem or service an organization consulting issue under the advisors' supervision.  Students will learn and practice applying their knowledge in business economics and how to present their work effectively.

Thesis

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

  

Qualification

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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