Black Ribbon

History of the Faculty of Economics

Since 1964, Faculty of Economics, Chiang Mai University has provided instruction to students. It originated at Department of Economics in the Faculty of Social Sciences. On August 28, 1992, it was then formally founded as the Faculty of Economics. In accordance with the government's strategy to establish Chiang Mai University in accordance with the Northern Development Plan, the establishment's goals were to increase regional possibilities for higher education and to function as a hub for academic services and research for the general public.

Vision

Asia’s Leading School of Economics for a Sustainable Society

Values and Culture

"Visionary – Agile – Excellence – Caring – Transparent – Resilient & Sustainable"

Visionary

Setting long-term visions and goals, planning the organisation’s future with foresight and prudence, embracing change, and fostering innovation.

Agile

Acting with speed and responsiveness, avoiding procrastination, prioritising effectively, and working with efficiency and enthusiasm.

Excellence

Striving for the highest standards, continuously improving oneself and one’s work, and delivering outcomes that exceed expectations.

Caring

Attentive to learners and stakeholders, understanding their needs, responding wholeheartedly, and creating positive experiences.

Transparent

Operating with honesty, openness, accountability, and clear communication, guided by the principles of good governance.

Resilient & Sustainable

Taking responsibility for society and the environment, fostering balance, ensuring organisational resilience, and promoting long-term sustainable growth.

Memorable acronym: "KOR TOR POR MOR"

  • KOR = Visionary Thinking: Set a long‑term vision and goals, take a forward‑looking view, plan the organisation’s future carefully, stay ready for change, foster innovation.
  • TOR = Swift Action: Act promptly, avoid procrastination, be proactive, prioritise effectively, work efficiently.
  • POR = Excellence with Transparency and Care: Strive for the highest standards, pursue continuous improvement, communicate clearly, act with honesty, be open and auditable, care for learners and stakeholders.
  • MOR = Resilience and Sustainability: Act responsibly towards society and the environment, balance economic, social and environmental considerations, build stable, long‑term organisational growth.

Mission

  • To educate future‑ready graduates with a strong grounding in economics, robust analytical skills, and leadership to drive sustainable societal change.
  • To create and disseminate knowledge and innovation from high‑quality, high‑impactful economic research that contribute to policy-making and sustainable development.
  • To foster the creation and exchange of knowledge through academic services that generate added value for the economy, society, and the environment

Current

Core Competencies
CC1

Expertise and capacity in conducting economic research on sustainable development.

CC2

Ability to integrate multiple disciplines to produce research and academic services that address the needs of society and communities.

Future (Target)

Core Competencies
CC1

Integration of teaching, research and academic services to generate social innovation.

CC2

Staff capable of learning and adapting to new technologies for teaching and research.

CC3

Future‑ready staff with the skills to anticipate, adapt to and lead through change. (Strategic Workforce & Organisational Culture)

The goal of achieving the vision of the Faculty of Economics

In 2026
Ranked 401-450
In 2027
Ranked 351-400
In 2028
Ranked 351-400
In 2029
Ranked 251-300

In 2026
10 journal
In 2027
10 journal
In 2028
10 journal
In 2029
10 journal

In 2026
15 achievements
In 2027
15 achievements
In 2028
15 achievements
In 2029
15 achievements

In 2026
34 million baht
In 2027
46 million baht
In 2028
58 million baht
In 2029
70 million baht