Mahidol University

Course Description

  • Course Name


  • Host University

    Mahidol University

  • Location

    Bangkok, Thailand

  • Area of Study


  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Host University Units

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    Course Summary and Objectives:

    We will study how the market forces of supply and demand cause prices to be what they are. We will see the sense in which market economies are efficient, and the way governments can make our economy less or more efficient. We will delve behind the supply curve to see how firms choose their production levels to maximize profits, culminating in the model of perfect competition. We will also look at monopoly market.

    Course Outline:

    • Part I. How Market Works 
      • The market forces of supply and demand 
      • Elasticity and its application 
      • Supply, demand and government policies
    • Part II. Firm Behavior and the Organization of Industry 
      • The cost of production 
      • Firm in competitive markets 
      • Monopoly
    • Part III. Markets and Welfare 
      • Consumers, producers, and the efficiency of markets 
      • Application: The cost of price ceiling, price floor and tax policies

    Teaching Methods:

    Lecturing and Discussing

    Teaching Media:

    Power Point Presentation and Whiteboard

Course Disclaimer

Courses and course hours of instruction are subject to change.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations


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