Master in Economics


Due to the rapid and continuous changes of economic, social and environmental situations both inside and outside the country, government and private sectors nowadays encounter several challenges. Public and private organizations hence require the ability to apply knowledge, concepts and theories to lead their missions so as to achieve the objectives of their organizations effectively and efficiently. Economics is an important area of study that will equip learners with knowledge and tools to manage their resources wisely taking into consideration of morality and ethics of organizational behavior that could affect the overall economic and social development of the country. For this reason, the School of Development Economics see the need for producing manpower with such qualifications in order to support the sustainable development goals of all nations.

School of Development Economics has unceasingly improved the curriculum of Master of Economics Program. The Development Economics Program has been offered first in 1966, then was renamed to the Master of Economics Program in 2007 conforming to the current economic and social situation. In each endeavor of improvement, the emphasis is placed on the quality of the program to ensure its up-to-date, response to the workforce demand of the industries, consistent with the major economic environment, and also comply with the standard set out by the office of Higher Education Commission.


Master of Economics Program is designed to equip students with theoretical knowledge and analytical skills necessary for applying in public sector, private business, international agencies, as well as non-profit organizations. Our faculty members spend every effort to guarantee an in-depth investigation of state-of-the-art economic research, while at the same time, providing opportunities for students to make appropriate applications to ongoing development agenda – not only in Thailand and Southeast Asia, but also in Asia and countries around the world in a truly global marketplace.

Graduate program in economics encompasses both theoretical knowledge and practical application. Without the former, practical application becomes weakened and ineffective, and without the latter, theoretical understanding remains isolated and out of touch with the real world. Consequently, we believe that, with the theoretical training and respectful dialogue with our faculty that we provide, our students will develop the skills necessary to make practical and concrete contributions to economic development in Thailand and in the global arena.

“We make contributions to economic development in Thailand and in neighboring Asian Countries”

Expected Learning Outcomes

L01: Apply economic principles to explain changes in economic conditions and effects of government policies on the economy.
L02: Collect and manage data using appropriate quantitative tools.
L03: Engage in lifelong learning and keep up with advancement of knowledge and technology.
L04: Display competence in written, oral, and visual communication with ethics.

Course Objective

Master of Economics Program aims to provide comprehensive up-to-date knowledge in economics for our students. We encourage the application of individuals from a variety of educational backgrounds. Candidates who would like to work as university lecturers, researchers in economics and policy research, and policy makers in the public sector are encouraged to apply. It is part of our philosophy that it is not only an excellent teaching staff that brings about high quality in education, but also a rich student body that contributes to the sharing of information that is so essential to a broad understanding of economic issues.


Bachelor’s degree or equivalent from institutions certified by the Office of Higher Education Commission, Office of the Civil Service Commission or other standardized institutions Academic standing approved by the council
Qualification of applicants can be changed which will be announced by the institution

Program Structure

Courses Plan A (Thesis) Plan B
1. Pre-Foundation Courses Non credit Non credit
2. Basic Courses 12 credits 12 credits
3. Core Courses 12 credits 12 credits
4. Elective Courses 9 credits
5. Independent Study 3 credits
6. Thesis 12 credits
6. Comprehensive Examination Comprehensive Examination Comprehensive Examination
Total 36 credits36 credits

Courses List: Elective in Apply Economics Courses

Course Description

A. Pre-Foundation Courses

ND 4000 Foundation for Graduate Studies

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

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 Intgrated English Language Skills Development

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

The 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

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.

ME 4000 Principles of Economics

Study the definitions and concepts in economics, such as market economy, role of government, demand and supply, marginal analysis, optimization, cost and production theory, macroeconomic theory, aggregated demand, balance of payment, demand for money, central bank and monetary policy, government and fiscal policy, inflation and unemployment.

B. Basic Courses

ME 5001 Mathematics for Economists 3 (3-0-3)

This course aims at providing students with useful mathematical foundation in order to apply with economic problems. The topics include real number, sets, relation, functions, sequences and series (through the application on time value of money), system of equations (through the application on finding equilibrium), matrix and linear algebra (through the application on input/output table), limits, derivatives, and integrals which finally lead to optimization methods.

ME 5002 Economic Data Analytics 3 (3-0-3)

This course is designed to introduce the following economic data analytics knowledge to students: (1) quantitative data analyses, and (2) Economic data analytics modeling in the computer software. This course teaches graduate students the process of analyzing big data and discovering new information to support management decision making. Topics include Descriptive Statistics, Analysis of Variance, Factor Analysis, Linear Regression, Time Series Analysis, Cluster Analysis, Discriminant Analysis, Linear Programming, and Monte Carlo Simulation.

ME 5003 Econometrics 3 (3-0-3)

Study the econometric and statistic tool economics and policy. The course covers regression analysis, limited dependent variable model and time series analysis.

ME 5004 Lab for Econometrics 3 (3-0-6)

This course gives students a hands-on experience in carrying out an empirical econometric research. Students who successfully completed the course are expected to know how to pose a research question, write a literature review, decide on the appropriate data set, and estimate econometric models using statistical software. Topics will include the method of ordinary least squares estimation and selected tests of its assumption, limited dependent variables estimation, and basic time series analysis.

C. Core Courses

ME 6001 Microeconomics 3 (3-0-3)

The content of this course include the analysis of consumer behavior, producer behavior,  market structure, game theory. price diseimination, factor market structure. general equilibrium theory, and welfare economics theory.

ME 6002 Macroeconomics 3 (3-0-3)

Theoretical and empirical models in intermediate macroeconomics are explained in this class by investigating how the models in both static and dynamic form can be applicable in real economic world. This class also analyzes how monetary policy from the central bank and fiscal policy from central government should have its impact on macroeconomic indicators and its stability. Besides the analysis on short-term and medium-term responses, analysis on long-term approach by using basic growth theory should also be explained in this class.

ME 6003 Economics of Sustainable Development 3 (3-0-3)

This course examines classic economic development theories over the past century. In addition, the benign and malignant implications of these past development policies will be discussed. Alternative development framework and policies will also be explored to strengthen understanding of sustainable development.

ME 6004 Economic Policy for Stabilization 3 (3-0-3)

This course examines the importance and problem of economic stability. We analyze the sources of macroeconomic instability and the roles of fiscal and monetary policies in stabilization or destabilization of the macro economy. Issues explored are the causes of inflation, unemployment, recessions and depressions, the long- and short-run effects of taxes, government expenditure, and public debt. In addition, we cover topics such as financial regulation, the management of the exchange rate and foreign reserves, market expectations, and central bank credibility and transparency. The aim is for sustainable economic growth.

D. Elective Courses

ME 7100 Economics in Practice 3 (3-0-6)

This course aims at preparing students for professional experience in economics through the lens of various activities such as seminar with practitioners, case studies, as well as practicing economic profession through research apprentice or co-operative education. At the end of the course, students have to submit report and present their economic practices.

E. Independent Study

ME 9000 Independent Studies

Student develop and write research paper related to economic issues under supervision of faculty member and presentation is required for all students.

F. Directed Studies

ME 8800 Directed Studies

Study of Special issues in economic related to the major subject and research topics.

G. Thesis

ME 9004 Thesis 12 Credits

Student develop and write research paper related to economic issues under supervision of faculty member and presentation is required for all students.

Learning Methodology

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