Behavior of economic agents that differ from standard economic assumptions models, particularly, the effects of bounded rationality of economic agents on their decision making on various topics. Application of behavioral factors to real life phenomena.

Introduction to business economics and modern practice; critical factors contributing to business success in the world today; analysis of various concepts, objectives, policies and strategies of firms under competitive environment and socio-cultural factors and technology undergoing rapid changes; modern and wide-ranging topics on business economics.

Goals of financial management for business sectors; techniques used in financial analysis; financial planning and control; working capital management; capital budgeting; long-term financing; cost of capital and capital structure.

Role and significance of money and credit in the economic system; financial system and financial markets; role of interest rates in the financial system; commercial banks and money supply; central bank and use of monetary policy influencing economic activities; significance of money in international trade and international payments; role of commercial banks.

Characteristics of entrepreneur; analysis of entrepreneur’s problems and opportunities; investigation of  new business opportunities;  business  plan; concept of selecting business and type of investment;  managing a young enterprise for profitability and growth.

Concepts of accounting; financial statements; recording process; adjusting the accounts; accounting cycle; accounting for service and merchandising operations; preparation of cash flow statements and basics of financial statement analysis.

Roles of accounting in management; cost concepts and classifications, production costing, job costing, process costing, activity-based costing, full costing and variable costing, cost-volume-profit analysis, analysis of costs for decision making, standard costing and variance analysis, budgeting, responsibility accounting and performance evaluation.

Evolution of Thai politics and government; the growth of democratic forces; expansion of public bureaucracy in the context of economic changes; various issues in Thai politics and government: instability of government, administrative centralization, constitution, political parties and parliamentary system, election, authoritarianism in Thai political system and government, ex-parliamentary politics.

Definitions of Economics, economic system, microeconomics and its applications; demand, supply, production, market structure (goods and factors), market failure; macroeconomics and its applications; national income, monetary and fiscal policies, financial market, open economy, economic growth and income distribution.

Principles and methods of dealing with multinationals; managing multinational companies;  models  and  strategies  of  multinational  corporate  management; business functions: international marketing, international finance, comparative management, and international business policy.

Applications of statistics in economics: random variables; probability; probability distribution of discrete random variables; normal distribution; sampling distribution; estimation theory; hypothesis testing; chi-square distribution; non-parametric testing; simple regression and analysis of variance.

Demand for transport; transportation cost; transportation market and competition; transport regulations and policies; pricing and revenue management; demand forecast; transport system planning and appraisal; transport externalities; urban transport; freight transport; rail transport; air transport.