Master in Economics and Management



With the rapid and incessant economic, social and environmental changes at present, executives are faced with decision-making challenges on various matters within the organization, requiring the knowledge and ability to apply several bodies of knowledge that will lead to the organization’s management practices which enable the different aspects of operation to achieve the targets set efficiently and effectively. Knowledge in economics is one of the important tools that will greatly help with the said management under the merits of virtuous and ethical operations which will in turn assist in the sustainable social and economic development of the country as a whole. Consequently, the School of Development Economics recognizes the need for the production of personnel to support the country’s development in accordance with such guidelines and has thus launched a special project of “Master of Economics in Executive Economics” (2011), focusing on the application of economics theories and concepts for decision-making in both public- and private-sector organizations to produce executives with broad visions and clear understanding of the economic environment who are capable of analyzing both the economic and business situations competently. They must also be highly advanced executives in the modern business world.


MEM covers a study period of 1 year and 8 months. Classes take place on Mondays – Fridays. The course will focus on the economic principles needed for decision-making and organizational management. The course will cover economic theories, case studies, analysis of materials, discussion, and field trips.

Learning Methedology

Core Program

Program Structure


Course Description

Basic Course

EX 5000    Economic Data Analysis for Management
An introduction course to applied quantitative and qualitative tools in economic data analysis for business management and decision-making. Selection and handling of such data and information cover issues including primary data collection, interview, questionnaire design and survey, focus group brainstorming, sourcing of secondary data. Descriptive statistics analysis, quantitative analysis together with meaningful figure and graphical presentation are discussed. Application of statistic calculation/estimation and interpretation of data and information with statistic parameters and data distribution.

Core Courses

EX 6010 Managerial Economics
Managerial Economics is the application of microeconomic theory and methodology to managerial decision-making problems under limited resources. The course focuses on demand analysis and estimation, production and cost analysis under different market conditions focusing on management decision in problems, alternatives, and consequences.

EX 6020  Analysis of Open Economy
Students will learn the macroeconomic analysis of an open economy. This course focuses on the interaction between household and business and the effectiveness of government policy in the open market economy. Long run growth and short run fluctuations of a nation in an increasingly connected world are explored. Also, current challenges in global economic issues are investigated.

EX 6030   Economic Policy
This course is a study of the foundation of economic policy formulation. The course recognizes the importance of free market economy, discusses market failures, market imperfections and identifies conditions for government interventions in the economy. The course will also discuss the outcome of government intervention in the economy, such as, pricing policy, tax policy, monetary policy and fiscal policy designed to achieve economic stability and long-term growth. A variety of policy issues will be discussed, such as, state enterprise policy, poverty reduction policy, education policy or policies on natural resources and environment.

Major Courses

EX 7010         Competitiveness Analysis and Organization Strategy
This course covers the concept of competitiveness analysis in an organizational level. The techniques of the internal and external environmental analysis will be explored to enable students to analyze the strengths and weaknesses of the firm and to determine suitable strategies for responding to the opportunities and threats. The concept of business and industry life cycle, value chain management, business-level, corporate-level and international-level strategy formulation are discussed. The applications of data analysis and case study involving competitive advantage creation in an organization are examined.

EX 7020    Finance for Executives
This course explores the concepts of financial management covering the objective setting, understanding the key drivers of financial performance, outlining financial management strategies, understanding of financial planning, analysis of financial statements, capital budgeting, cost of capital, choosing the sources of fund, and study principle of financial risk management for executive decision makings.

EX 7030    Project Planning and Analysis
This course covers the fundamental concept, the process, the planning, the implementation, and the cycles of the projects. The feasibility analysis of private and public project investments covers the analyses of demands, markets, technology, finance, economic issues, social, and environmental concerns. Costs and benefits analyses of projects under various market structures in both business and economic points of view are examined. Project investment decision criteria and discount rates are studied. Market prices and non-market prices of goods and services are explored. A transformation of strategic plans to business plans and project plans and a transformation of project plans to operational plans are discussed. Project appraisal reports are also outlined.

EX 7040  Economic Indicators
This course studies features and collection of the economic data together with key indicators for economic situation analysis and business decision-making. Understanding of sources, meaning, and the essential of fundamental economic data and indictors. Logically and meaningfully applies the economic indicators to analyze current economic situation and forecast trends and changes in economic conditions that affect business management decision.

EX 7050  Managing Business under Economic Interdependence
Application of international trade and international finance theory for management decision making under the context of global economic uncertainty and Thailand’s economic development. Significant of international trade and investment linkages both in terms of potential benefits and possible negative impacts are covered. The emergence of cryptocurrency and its influence on the economy and future development. Understanding the dynamics of global economic integration to establish economic agility and resiliency in response to an increasing volatility of domestic as well as international factors including movement of capital, labor, exchange rate, technology, and information that contribute to the real sector and sustainable economic development.

EX 7060   Innovation Management and Creative Economy
This course aims providing the importance of innovation adoption and management in different types of organizations that include types of innovation, innovative pricing, digital economy and network externality, innovative vision and strategic position. In the boarder context, innovative-driven structure such as creative entrepreneurship, innovative cluster, market structure for innovation, intellectual property rights and public policies for promoting innovation will be discussed.

Elective Courses

EX 7101  Human Resource for Competitiveness
This course aims applying microeconomics concepts for human resource management which includes recruitment process, training and reskill, wage compensation, job promotion,  and job design to fit for each organization structure. In addition, this course emphasizes on skill development process and labor market outcomes that aims for increasing competitiveness of the country.

EX 7102  Seminar on Economics and Management
A study of specific issues on economic and management to give students an opportunity to explore frontier knowledges that is up to date and able to apply for current business practices.

EX 8001  Directed Studies
The course covers some specific issues in economics and management, which are current and benefit to the students’ research interests.

EX 8002  Directed Studies
The course covers some specific issues in economics and management, which are current and benefit to the students’ research interests.

EX 8003  Directed Studies
The course covers some specific issues in economics and management, which are current and benefit to the students’ research interests.

Independent Study

EX 9000         Independent Study
This course will provide students the opportunity to pursue in-depth independent study of an economics and management issue, theme, or problem. Student will be in consultation with a faculty member to develop a research. The completed project displays the student’s abilities as an effective writer, knowledge of audience, and thorough familiarity with the selected topic area.


EX 9000 Thesis
Equivalent to coursework not less than 1 semester


For Written Examination

1)  Applicants must hold a bachelor’s degree in any field or major from an accredited academic institution. or

2)   Applicants who are studying in their last semester must graduate with a bachelor’s degree on or before the first day of the semester for which they have been accepted.

For Interview Examination

1)  Applicants must hold a bachelor’s degree in any field or major from an accredited academic institution. or Applicants who are studying in their last semester must graduate with a bachelor’s degree on or before the first day of the semester for which they have been accepted

From 2) – 5) (Applicants must have at least one qualification.)

2)  Applicants who have a working experience at least 1 year

3)  Applicants with a TOEFL score of 500 PBT, 173 CBT and 61 iBT or IELTS SCORE OF 6.0 or NIDA TEAP score of 500 or higher

4)  Applicants must have a minimum GPA at Bachelor Degree level no less than 2.70

5)  Applicants who are native speaker of English or who have undergraduate studies in English – speaking countries within 5 years prior to application


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