2940603 : Advanced Economic Theory I (3 credits)

Consumer theory; theory of production and cost; market structure and competition; game theory; factor market; general equilibrium; uncertainty and asymmetric information; moral hazard; market failure; public goods and externalities.

2940604 : Advanced Economic Theory II (3 credits)

This course provides a rigorous and integrated study of modern macroeconomic theory, focusing on the behavior of the economy in the short run, medium run, and long run, with extensions to the open economy. 

The course begins with short-run analysis grounded in Keynesian theory, emphasizing goods and financial market interactions through the IS–LM framework to analyze output, interest rates, and the role of fiscal and monetary policy under different institutional settings.  

The medium-run perspective extends the analysis by introducing price and wage dynamics, inflation, and expectations. Central to this part of the course are the Phillips Curve and the IS–LM–PC model, which jointly explain the interaction between aggregate demand, inflation, and monetary policy, and provide a coherent framework for understanding stabilization policy, business cycle fluctuations, and policy trade-offs.  

The long-run section focuses on economic growth and structural change. Students study classical and modern growth theories, with particular emphasis on the Solow growth model, to analyze the determinants of long-run output, capital accumulation, technological progress, and cross-country income differences.  

Finally, the course extends macroeconomic analysis to the open economy, examining international trade, capital flows, exchange rates, and macroeconomic policy in an interconnected global environment.

Throughout the course, theoretical models are linked to real-world policy issues, enabling students to develop strong analytical skills for advanced study, research, and policy analysis in macroeconomics.

2940605 : Quantitative Methods in Economic Analysis (3 credits)

Basic data; formulation and estimation of econometric models; forecasting and simulation techniques; computer applications in these areas.

2949651 : Cost and Financial Analysis (3 credits)

Financial system of firm; managing operating funds; assessment of firm performance; projection of financial requirements; analysis of capital investment decisions; assessment of the cost of capital; analysis of financing choices of firm.

2949601 : Economics of Production and Marketing Management (3 credits)

Economic relationships between organizational production and marketing management; production theory and organizational practice in planning, administration and factory control to improve productive efficiency and quality control; theories and techniques of current marketing management

2949653 : Economics of Human Resource Management (3 credits)

Various economic theories related to investment in human capital; education, training, health care, migration, job information, and child quality, assuming heterogeneity of population; econometric method using the selection technique to correct ability or selectivity bias; macro effects of investments in human capital, particularly in various levels of education, on the urban Thai economy, the imbalances between such investments and absorptive capacity of the urban formal labor market, the imbalance between the rural and urban sectors, migration, unemployment, under-employment, the evolution and expansion of the urban informal labor market, and appropriate human resource development, and planning.

2949652 : Money and Financial Management in Economic Development (3 credits)

This course examines the role of money, financial markets, and financial institutions in the process of economic development. It provides students with a comprehensive understanding of how financial systems support economic growth, stability, and structural transformation in both developed and developing economies.

The course begins with an introduction to money and financial markets, focusing on the determination of interest rates, the term structure of interest rates, and the functioning of stock and bond markets. The course then explores banking systems and the management of financial institutions, emphasizing the role of banks in financial intermediation, risk management, regulation, and financial stability in emerging and developing economies.

Central banking and monetary policy form a core component of the course. Students study the objectives, instruments, and transmission mechanisms of monetary policy, as well as the role of central banks in maintaining price stability, supporting economic growth, and safeguarding the financial system.

The international finance section examines exchange rates, capital flows, balance of payments, and financial globalization, with attention to their implications for economic development and macroeconomic stability. 

The course concludes with an analysis of digital currency and financial innovation, including central bank digital currencies (CBDCs), cryptocurrencies, and fintech developments, and their potential impact on financial inclusion, monetary policy, and economic development.

2949656 : Economics of International Business Management (3 credits)

Scope, structure and evolution of international business; theories related to international business phenomena; problems in business activities among various economic, social and political environment; structure and factors affecting international business, e.g. monetary market, rules and regulations on trade agreements and international law, role of the government and international organizations; the control of multinational corporation; economic analysis of the multinational corporation.