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ECON419 – Entrepreneurship and Economic Theories

Course Description

General concepts of economic theory and entrepreneurship. Behavior and characteristics of entrepreneurs. Creation of new ideas in doing business for potential entrepreneurs. Entrepreneurial opportunities in small and medium enterprises (SMEs). Case studies of entrepreneurial success in progress.

Course Objectives:

Students are able to

  1. Understand general concepts of economic theory and entrepreneurship
  2. Understand behavior and characteristics of entrepreneurs
  3. Create of new ideas in doing business for potential entrepreneurs
  4. Analyse entrepreneurial opportunities in small and medium enterprises (SMEs)
  5. Analyse case studies of entrepreneurial success in progress.

Communication channels

econ419.jpg

Topics

  1. Introduction and Entrepreneurship (pdf)
    – Characteristics of Entrepreneurs
    – Business and Firms
    – Roles of Entrepreneurs in the Economy
  2. Economic Theories related to entrepreneurship
    – Market type (e.g., Monopoly, Monopsony, Oligopoly)
    – Pricing strategies
    – Demand and Supply Theories
    – Elasticity of Demand and Supply
  3. Business Model Generation (html)
    – Value Proposition
    – Customer Segment
    – Customer Relationship
    – Channels
    – Key partnership
    – Key resources
    – Key activities
    – Cost structure
    – Revenue stream
  4. Creative Thinking and Entrepreneurship
    – Design Thinking
    – Innovation
  5. Case studies
    – Creative industry
    – Service industry
    – Digital industry
    book_business_model_generation.png

Time table

  1. 7 August – Orientation
  2. 10 August – No class 1
  3. 14 August – No class
  4. 15 August – AED Conference
  5. 17 August – No class 2
  6. 21 August – Economic Theories for Entrepreneurship 1
  7. 24 August – Economic Theories for Entrepreneurship 2
  8. 28 August – No class 3
  9. 31 August –No class 4
  10. 4 September – Economic Theories for Entrepreneurship 3
  11. 7 September – No class 5
  12. 11 September – No Class 6
  13. 12 September – Make up 1-2 (09:00 – 12:00)
    Group Presentation – Business Opportunity + Business Canvas 
  14. 14 September – Business Canvas 1
  15. 15 September – Make up 3-6 (08:30 – 16:30)
    Special Workshop on 7 wonder product development at Holiday Inn Hotel 
  16. 18 September – No class 7
  17. 21 September – No class 8
  18. 22 September – Make Up 7-10 Chiang Business Forum at Shagri-la Hotel 9:00 – 12:00 / Visit Lanna MICE Mart and do the report 13:00 – 16:00
  19. 25 September – Business Canvas 2
  20.  28 September – No class 9

Note: Midterm period 1-7 October (We have no Midterm exam)
But please submit both individual and group work during the Midterm period via email (me@pairach.com) and a hard copy in the common room box.

October – November Timetable TBC

 

Assessments

  1. Special Lecture and Seminar  10%
    Students required to attend special events e.g., a conference or a seminar and produce a summary note.
  2. Business Case Review (Individual work) 30%
    Students required to produce a local business (in Chiang Mai) analysis using theories and model taught in class or other else that suitable e.g., business canvas, lean canvas, or value proposition canvas. The words limits of the report is 3,000 words. Submit During Midterm Exam Period
  3. Economic Analysis for Business Opportunity 30%
    Students required to produce an economic analysis to identify business opportunities in Chiang Mai using related economic theories(e.g., transaction cost economics or resource based view) and suitable economic tools (e.g., econometrics or institutional analysis). The words limits of the report is 3,000 words. Submit During Midterm Exam Period
  4. Business Model Generation (Group work, 3 person per group) 30%
    In a group of 3 students, Students required to produce a business model using business canvas and other related tools and pitch the business model using appropriate presentation material e.g. PowerPoint or Prezi. The words limits of the report is 3,000 words. Submit During Final exam Period

Grading

  • A    > 90%
  • B+  80 – 89%
  • B    70 – 79%
  • C+  60 – 69%
  • C    50 – 59%
  • D+  40 – 49%
  • D    30 – 39%
  • F    < 30
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