Business Economics

As the first undergraduate business economics program in Thailand, the Department of Business Economics recognizes the social and economic needs and challenges in an era of globalization where a successful manager of tomorrow must be able to carry out sound economic analysis as well as blending a wealth of theoretical tools and practical experience to bear on the relationship among business, government, and society. Our program has been an innovative force in research, teaching, and corporate social service in supporting economic and social growth, development and sustainability of the globalizing economy over a decade.

Members of the Business Economics faculty have held appointments from other prominent universities in Thailand and abroad, been managers in well-known multinational corporations, held research appointments and fellowships in both government and not-for-profit organizations, and provide consulting services to government agencies and businesses. The Department has shown the highest ratio of international faculty members in Martin de Tours School of Management and Economics, and almost all faculty members have some substantial experience in foreign countries, either in their education or professional background.

The recent innovation in our curriculum of two different economic approaches focuses on the diversified needs of the market. While the managerial approach aims to produce graduates who encompass practical economic skills and equipped with sound business decisions abilities, the quantitative approach intends to develop research skills adequate for further studies in the fields of economics and finance. This new development in the curriculum will help cater good opportunities for graduates’ career path in public and private sectors both locally and internationally.
English :
- Bachelor of Economics (B.Econ.) in Business Economics
- B.Econ. (Business Economics)

ภาษาไทย :
- คณะบริหารธุรกิจ หลักสูตรเศรษฐศาสตรบัณฑิต
- สาขาวิชาเศรษฐศาสตร์ธุรกิจ

Chaiperson :
Dr.Ing-Wei Huang

Website :
Business Economics (Under Construction)
LMS for Business Economics

Curriculum for Students ID between 54xxxx - 58xxxx (more detail)
Curriculum for Students ID 59xxxx and above

Number of credits 144 Credits
Duration of Study
Students must complete all the requirements for the degree in a maximum of 8 years.

Curriculum Structure
C. Free Elective Courses6credits
Total number of credits141credits
A. General Education Courses33credits
Language Courses 15credits
Social Science Courses 6credits
Humanities Courses6credits
Science and Mathematics Courses6credits
B. Specialized Courses102credits
Core Courses35credits
Major Required Courses 40credits
Major Elective Courses12credits
Business Concentration Courses15credits

A.General education courses

Language courses
Total15 credits
Course codeCourse titlecredits
BG1001English I3 (3-3-7)
BG1002English II3 (3-3-7)
BG2000English III3 (3-3-7)
BG2001English IV3 (3-3-7)
GE 1403
(OR)
GE 1401
Communication in Thai
(OR)
Language and Communication Skills (for international students)
3 (3-0-6)

Social science courses 
Total6 credits
Course codeCourse titlecredits
GE 2202Ethics3 (3-0-6)
MGT 1101Introduction to business3 (3-0-6)

Humanity courses 
Total6 credits
Course codeCourse titlecredits
GE 2101World Civilization3 (3-0-6)
MGT 2404Managerial Psychology3 (3-0-6)

Science and mathematics courses 
Total6 credits
Course codeCourse titlecredits
BG 1200Mathematics for business3 (3-0-6)
GE 1301Environmental science3 (3-0-6)


B.Specialized courses

Business core courses 
Total35 credits
Course codeCourse titlecredits
ACT 1600Fundamentals of Financial Accounting3 (3-0-6)
ACT 2620Fundamentals of Managerial Accounting 3 (3-0-6)
BIS 1141Business Software Applications1 (0-1-1)
BIS 2180Information Technology3 (3-0-6)
BIS 3340Computer Tools in Research1 (0-1-1)
ECO 1231Principles of Economics3 (3-0-6)
ECO 2531Principles of Microeconomics4 (4-0-8)
ECO 2541Principles of Macroeconomics4 (4-0-8)
ECO 3251Business Economics Writing3 (3-0-6)
ECO 3252Information Literacy Skills3 (3-0-6)
FIN 3101Corporate Finance3 (3-0-6)
MGT 2900Principles of Management3 (3-0-6)
MKT 2280Principles of Marketing3 (3-0-6)

Major Required Courses – Plan A: Managerial Economics 
Total40 credits
Course codeCourse titlecredits
ECO 1251Statistics for Economists4 (4-0-8)
ECO 2551Introduction to Econometrics3 (3-0-6)
ECO 2561Economy, Society and Government3 (3-0-6)
ECO 2641Intermediate Macroeconomics3 (3-0-6)
ECO 2661Managerial Economics3 (3-0-6)
ECO 3731International Trade3 (3-0-6)
ECO 3732Industrial Organization3 (3-0-6)
ECO 3741Monetary Economics3 (3-0-6)
ECO 4551History of Economics Thoughts3 (3-0-6)
ECO 4761Economics of Strategy3 (3-0-6)
ECO 4961Managerial Economic Research3 (3-0-6)
MGT 3940Business Research Methodology3 (3-0-6)
MGT 4914Entrepreneurship3 (3-0-6)
Major Required Courses – Plan B: Quantitative Economics 
Total40 credits
Course codeCourse titlecredits
ECO 1251Statistics for Economists4 (4-0-8)
ECO 1252Calculus I3 (3-0-6)
ECO 1253Calculus II3 (3-0-6)
ECO 2551Introduction to Econometrics3 (3-0-6)
ECO 2631Intermediate Microeconomics3 (3-0-6)
ECO 2641Intermediate Macroeconomics3 (3-0-6)
ECO 3741Monetary Economics3 (3-0-6)
ECO 3771Advanced Microeconomics3 (3-0-6)
ECO 3772Intermediate Econometrics3 (3-0-6)
ECO 3773Mathematical Economics3 (3-0-6)
ECO 4551History of Economics Thoughts3 (3-0-6)
ECO 4971Quantitative Economic Research3 (3-0-6)
ECO 4972Independent Study3 (3-0-6)

MAJOR ELECTIVE COURSES – Plan A: Managerial Economics 
Total12 credits
Course codeCourse titltecredits
ECO 3733Economics of Human Resources3 (3-0-6)
ECO 3734Agriculture Economics and Agri - business3 (3-0-6)
ECO 3735Public Economics3 (3-0-6)
ECO 3751Business Cycle and Forecasting3 (3-0-6)
ECO 3771Advanced Microeconomics3 (3-0-6)
ECO 4731Economics of Sustainability3 (3-0-6)
ECO 4741International Finance3 (3-0-6)
REM 3113Real Estate Economics3 (3-0-6)
MAJOR ELECTIVE COURSES – Plan B: Quantitative Economics 
Total12 credits
Course codeCourse titltecredits
ECO 3731International Trade3 (3-0-6)
ECO 3732Industrial Organization 3 (3-0-6)
ECO 3733Economics of Human Resources3 (3-0-6)
ECO 3734Agriculture Economics and Agri-business3 (3-0-6)
ECO 3735Public Economics3 (3-0-6)
ECO 3751Business Cycle and Forecasting3 (3-0-6)
ECO 4731Economics of Sustainability3 (3-0-6)
ECO 4741International Finance3 (3-0-6)
ECO 4751Financial Economics3 (3-0-6)
ECO 4761Economics of Strategy3 (3-0-6)

Business concentration courses 
Total15 credits
Student must choose ONE of the following groups of concentration as their business concentration:
Course codeCourse titltecredits
Finance and Banking
FIN 3201Investment3 (3-0-6)
FIN 3202Valuation3 (3-0-6)
FIN 3203Bank management3 (3-0-6)
FIN 3221Financial Feasibility Planning3 (3-0-6)
FIN 4101Financial Management3 (3-0-6)
Total15 credits
Business Information Systems
BIS 3315Programming and Algorithms3 (2-2-6)
BIS 3348Principles of Multimedia3 (2-2-6)
BIS 3617Web Design and Programming3 (2-2-6)
BIS 3635Database Systems3 (2-2-6)
BIS 3666Information Systems Analysis and Design3 (3-0-6)
Total15 credits
International Business Management
IBM 3101Comparative Management3 (3-0-6)
IBM 3102Export-Import Policy and Strategy3 (3-0-6)
IBM 3203International Management3 (3-0-6)
IBM 4115International Product and Brand Planning3 (3-0-6)
IBM 4208International Strategic Management3 (3-0-6)
Total15 credits
Industrial Management
IDM 3203Logistics and Supply Chain Management3 (3-0-6)
IDM 3204Industrial Safety and Risk Management3 (3-0-6)
IDM 4201Manufacturing Planning and Control3 (3-0-6)
IDM 4203Quality Management3 (3-0-6)
IDM 4206Industrial Environmental Management3 (3-0-6)
Total15 credits
Insurance Management
INS 3101Principles of Risk Management and Insurance3 (3-0-6)
INS 3201Property Insurance3 (3-0-6)
INS 3202Casualty Insurance3 (3-0-6)
INS 3301Principles of Life Assurance3 (3-0-6)
INS 4302Accident, Group and Health Insurance 3 (3-0-6)
Total15 credits
Management
MGT 3901Organization Theory3 (3-0-6)
MGT 3917Innovation and Change Management3 (3-0-6)
MGT 3922Introduction to New Ventures3 (3-0-6)
MGT 3942Organization Behavior3 (3-0-6)
MGT 4916Negotiation Strategy3 (3-0-6)
Total15 credits
Marketing
MKT 3102Integrated Marketing Communications3 (3-0-6)
MKT 3525Sales Management3 (3-0-6)
MKT 3530Consumer Behavior3 (3-0-6)
MKT 4725Competitive Analysis and Strategy3 (3-0-6)
MKT 4730Marketing Management3 (3-0-6)
Total15 credits
Real Estate
REM 3111Principles of Real Estate3 (3-0-6)
REM 3114Building Design and Construction Techniques3 (3-0-6)
REM 3211Principles of Real Estate Development3 (3-0-6)
REM 3212Real Estate Finance3 (3-0-6)
REM 3213Real Estate Appraisal3 (3-0-6)

C.Free elective courses

Students can take free elective courses of 9 credits from any faculty in Assumption University upon completion of the prerequisites (if any).

STUDY PLANS
First and Second Years (Freshmen and Sophomore)
During the freshmen year, all students in Business Economics pursue the same study plan consisting of general education courses and business core courses, which provides them with the basic knowledge on all the disciplines in Economics and Business. The study plan also prepares the students with adequate knowledge to select a business concentration that suits his/her ability, background, and preferences.

Third and Fourth Years (Junior and Senior)
During the junior and senior years, Business Economics students follow the Economics program of studies:
1. Ten Major Required Courses
2. Four Major Electives Courses
3. Five Business Concentration Courses
4. Three Free Elective Courses
Plan A

First year
For International students, replace GE 1403 with GE 1401 Language and Communication Skills
Managerial (A) First Semester
Course codeCourse titlecredits
BG 1001English I3
BIS 1141Business Software Applications0
ECO 1231Principle of Economics3
ECO 1251Statistics for Economists4
GE 1301Environmental Science 3
GE 1403Communication in Thai3
MA 1200Mathematics for Business3
Managerial (A) Second Semester 
Course codeCourse titlecredits
ACT 1600Fundamentals of Financial Accounting3
BG 1002English II3
BIS 2180Information Technology3
ECO 2561Economy, Society and Government3
ECO 2531Principles of Microeconomics4
MGT 1101Introduction to Business3

Second year 
Managerial (A) First semester
Course codeCourse titlecredits
ACT 2620Fundamentals of Managerial Accounting3
BG 2000English III0
ECO 2541Principle of Macroeconomics4
ECO 2551Introduction to Econometrics3
GE 2101World Civilization3
MKT 2280Principles of Marketing3
Managerial (A) Second Semester 
Course codeCourse titlecredits
BG 2001English IV3
BIS 3340Computer Tools in Research0
ECO 2661Managerial Economics3
ECO 2641Intermediate Macroeconomics3
ECO 3731International Trade3
GE 2202Ethics3
MGT 2900Principles of Management3

Third year 
Managerial (A) First semester
Course codeCourse titlecredits
ECO 3251Business Economics Writing3
ECO 3252Information Literacy Skills3
ECO 3741Monetary Economics3
FIN 3101Corporate Finance3
MGT 2402Managerial Psychology3
MGT 3940Business Research Methodology3
Managerial (A) Second semester 
Course codeCourse titlecredits
ECO 3732Industrial Organization3
ECO 4761Economics of Strategy3
Major Elective3
Major Elective3
Business Concentration3
Business Concentration3

Fourth year 
First semester
Course codeCourse titlecredits
ECO 4551History of Economic Thoughts3
MGT 4915Entrepreneurship3
Major Elective3
Business Concentration3
Business Concentration3
Second semester 
Course codeCourse titlecredits
ECO 4691Information Systems Security3
Managerial Economic Research3
Major Elective3
Business Concentration3
Free Elective3
Free Elective3


Plan B

First year
For International students, replace GE 1403 with GE 1401 Language and Communication Skills
Managerial (B) First Semester
Course codeCourse titlecredits
BG 1001English I3
BIS 1141Business Software Applications0
ECO 1231Principle of Economics3
ECO 1251Statistics for Economists4
GE 1301Environmental Science 3
GE 1403Communication in Thai3
MA 1200Mathematics for Business3
Managerial (B) Second Semester 
Course codeCourse titlecredits
ACT 1600Fundamentals of Financial Accounting3
BG 1002English II3
BIS 2180Information Technology3
ECO 1252Calculus I3
ECO 2531Principles of Microeconomics4
MGT 1101Introduction to Business3

Second year 
Managerial (B) First semester
Course codeCourse titlecredits
ACT 2620Fundamentals of Managerial Accounting3
BG 2000English III0
ECO 2541Principle of Macroeconomics4
ECO 2551Introduction to Econometrics3
ECO 1253Calculus II3
MKT 2280Principles of Marketing3
Managerial (B) Second Semester 
Course codeCourse titlecredits
BG 2001English IV3
BIS 3340Computer Tools in Research0
ECO 2631Intermediate Microeconomics3
ECO 2641Intermediate Macroeconomics3
GE 2101World Civilization3
GE 2202Ethics3
MGT 2900Principles of Management3

Third year 
Managerial (B) First semester
Course codeCourse titlecredits
ECO 3251Business Economics Writing3
ECO 3252Information Literacy Skills3
ECO 3741Monetary Economics3
FIN 3101Corporate Finance3
MGT 2404Managerial Psychology3
ECO 3773Mathematical Economics3
Managerial (B) Second semester 
Course codeCourse titlecredits
ECO 3771Advanced Microeconomics3
ECO 3772Intermediate Econometrics3
Major Elective3
Major Elective3
Business Concentration3
Business Concentration3

Fourth year 
First semester
Course codeCourse titlecredits
ECO 4551History of Economic Thoughts3
ECO 4971Independent Study3
Major Elective3
Business Concentration3
Business Concentration3
Second semester 
Course codeCourse titlecredits
ECO 4691Managerial Economic Research3
Major Elective3
Business Concentration3
Free Elective3
Free Elective3