International Program

The International Program mission at CMMU is to produce students who are more self-confident to work in a complex global business world.


Fundamental knowledge in financial management is vital for successfully running a corporation. CMMU’s Master of Management in Corporate Finance (CF) responds to opportunities and challenges of the exciting and complex world of finance in a new era of globalization. The changing global context of the 21st century is demanding higher levels of profound expertise for corporate financial managers in Thailand and the Asia-Pacific Region.

Financing a corporation is the pre-requisite of all of its business activities. Managing new strategies for increasing the rate of return of investments (assets), and for being aware of the cost of capital of all financing decisions are taking on major importance. This equally applies in Thailand, where expertise in financial management in the corporate and public sectors needs to be strengthened. Furthermore, new financial tools such as options and derivatives are increasingly causing decisions to be made swiftly without the luxury of errors.


The aim of this program is to train students for a role of Chief Financial Officer (CFO) or a top executive who needs to make, implement and monitor financial decisions. The program would be ideal for any applicants who would like to pursue a career in financial management. Backgrounds in accounting are not required, as CMMU provides basic financial accounting courses as well as advanced management accounting classes. Quantitative analysis with the use of appropriate software like Excel or @Risk would be emphasized. However, there is no need for a strong mathematical background to study in the program, as we apply mathematical methods, and not develop or prove them.


  • Chief Financial Officer (CFO)
  • Finance manager
  • Top executive who needs to make financial decisions
  • Credit officer of Loan officer


CF students have the opportunity to study 3 terms at CMMU and then continue their studies at Macquarie University, Sydney, Australia for 1 year. They will receive a Master in Management from CMMU and a Master of Commerce with a specialization in Finance from Macquarie University. A scholarship of 10,000 AUD is available from Macquarie University for this program.

Contact and Enquiries

CMMU regular business hours
  • Open 10.00 - 18.00 Weekday
  • Open 08.30 - 16.30 Weekend
Tel: (66) 02 206 2000 Ext.3201
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Curriculum
    *Note: This structure is the normal curriculum structure. It may change without prior notice. Please check with the program educator.

    Core Course
    (Total 15 Credits)
    • Financial Management
    • Organization Behavior and Human Resource Management
    • Management Information Systems
    • Asian Economy in Global Context
    • Strategic Marketing Management
    Foundation Course
    (Select 3 subjects Total 9 Credits)
    • Financial Planning and Strategy
    • Investment Management
    • Quantitative Methods in Finance
    Capstone Project
    • CFO Simulation
    • Strategic Management for Finance
    • Derivatives and Risk Management
    • Valuation
    (Total 6 Credits)
    Specialization Course
    (Select 4 subjects Total 12 Credits)
    • Mergers and Acquisitions
    • International Finance
    • Management Accounting
    • Valuation
    Free Elective
    (Total 3 Credits)
    Total 45 credits  
    • Organization Behavior and Human Resource Management

      Meaning, Individual behavior, personal decision making, value, attitudes and job satisfaction, role of motivation and performance, group behavior, communication and decision making in group, leadership and ethics, power and monetary, conflict, negotiation and group behavior, organization structure, organization design , person policies, morals, ethics and social responsibility, corporate culture and environment, planning and goal setting, stress in workplace, management and organizational behavior, organizational development and change

      Management Information Systems

      Information systems from the business viewpoint; identification of an organizations information needs, the information technology and application systems to support the needs from operational to strategic levels, development and acquisition of the systems

      Asian Economy in Global Context

      Microeconomics, demand and supply, elasticity, government policies, production and output, costs, perfect competition market, monopoly, monopolistic competition, oligopoly, game theory, market failures. Macroeconomic, measuring GDP, economic growth, inflation, unemployment, monetary policy, fiscal policy, business cycle, international trade, and international finance, the examples and cases of real situations happened in Asian economies

      Financial Management

      An overview of financial management, financial statements, financial statement analysis, risk and return, time value of money, bonds and their valuation, stocks and their valuation, cost of capital, capital budgeting, cash flow estimation, risk analysis and real options, long-term financial planning, capital structure decisions, issuing securities, refunding operation, current asset management, short-term financing, derivatives and risk management


      Strategic Marketing Management

      Marketing, building customer satisfaction, marketing process and marketing planning, marketing information system and marketing research, scanning the marketing environment, analyzing consumer markets and buyer behavior, analyzing business market and business buyer behavior, analyzing industry and competition, demand measurement, market segmentation and selecting target market, differentiate, positioning, developing, testing and offering new product, the product life cycle, designing market-leader strategies, market- challenger strategies, market- follower strategies and market-nicher strategies, designing global market offering, managing product line, brands and packaging, managing services, channel management, managing retailing, wholesaling and market logistic, managing integrated marketing communications, design direct marketing and public relation, managing sales force, evaluation and control.

    • Financial Planning and Strategy

      Formulation of the financial strategy assisting management in making a financial decision, raising capital, equity or debt financing, the weighted-average cost of capital, preferred stocks and hybrid securities, dividend policy, capital budgeting decision, mergers and acquisitions, financial planning and strategy in multi-business companies, earnings per share evaluation, leasing, international finance strategies, and risk management.

      Investment Management

      Principles of investment, the various kinds of financial instruments, the security markets and indexes, the investment returns and risks, modern portfolio theories, valuation models, and the efficient market hypothesis, characteristics and markets of the equity and fixed-income securities, measuring the portfolio performances, the methods to forecast and analyze the economic conditions, the industry and the company, warrants and convertible bonds.

      Quantitative Methods in Finance

      Statistical concepts and market returns, probability concepts, common probability distributions, sampling and estimation, hypothesis testing, correlation and regression, multiple regression and issues in regression analysis, mathematical, statistical and financial functions in Financial software for quantitative methods, linear algebra and linear programming mean-variance analysis, optimization, implementing mean-variance analysis, macros and objects in Financial software for quantitative methods, visual basic for applications.
    • Mergers and Acquisitions

      Objectives, events, and benefits of the mergers and acquisitions. To value the intrinsic value of the companies after merged or acquired. The valuation methods, The mergers and acquisitions financing decision, tax-related effects, accounting-related effects and laws, M&A strategies and the financial instruments.

      International Finance

      The international financial management, capital flows between countries, international financial markets, foreign exchange rates, foreign exchange market instruments, and arbitraging on foreign exchange currencies, the relationship between the countries’ inflation rates, interest rates, and exchange rates, the future exchange rates forecasting, managing any potential loss from the foreign exchange risk exposure, the financing in short-term source of fund, international cash management, international capital structure and cost of capital, foreign direct investments, country risk analysis and international banking.

      Management Accounting

      Introduction to managerial accounting, cost management concepts and cost behavior, product costing: job costing, activity-based cost systems, activity analysis and cost behavior, cost-volume-profit analysis, budgeting and behavioral aspects of control, decision making: relevant costs and benefits, pricing, standard costing, operational performance measurement and the balanced scorecard, responsibility accounting and transfer pricing performance evaluation and financial control.

      Value Based Management

      The purpose of the course is to enhance participants’ knowledge, insights, and analytical skills related to the way corporate managers’ design, and utilize planning and management control systems to implement strategies. Techniques of the management control process are studied and behavioral considerations involved in the use of these techniques are discussed. Value Based Management (VBM) serves the purpose of driving all activities of organizations toward value creation for shareholders.

      Specifically, VBM provides management the information on value-creation performance of organization/business units, derives the value drivers, as well as structures incentive system that aligns self interests of management with long-term shareholder wealth.


      Using the valuation models to value financial assets, real assets, and the firm value, applying valuation in financial planning and performance measurements, analysis of the cost of capital of the company to be used as the discounted rate in the valuation model. Free cashflow valuation including both the free cashflow to firm and the free cashflow to equity.

      Wealth Management

      Client goals and constraints, risk analysis, risk management and tools, data analysis and data gathering, investment theory, asset allocation, investment policy
  • Item Pre-Course
    1st Year 2nd Year Total
    1. Matriculation - 35,000 35,000 35,000 35,000 35,000 175,000
    2. Entrance Fee 38,000 - - - - - 38,000
    3. Tuition Fee(1) (4,800 Baht/credit) - 43,200 43,200 43,200 43,200 43,200 216,000
    Total Academic Expenses 38,000 78,200 78,200 78,200 78,200 78,200 429,000

    Download Payment Schedule


    1. All students are required to achieve at least 45-credits program of study. The fee (exclude text book) of 216,000 THB (4,800 THB/credit x 45 credits) charged for the Master of Management (International Program) is considered a "total program fee".
  • Successful completion of the Masters Program requires students to meet several quality standards set by the College. Students must register to maintain their status as active students during every trimester of study until they graduate. In order for students to do this, they must register for a minimum of three (3) credit hours per trimester. As noted earlier, the maximum number of credits that a student may take in one trimester is twelve hours. The Program Chair and the Director of Academic Programs must approve exceptions to the above policy.

    Students who have satisfied the general requirements for admission or successfully transferred from Conditional Status will be admitted as Graduate Students. To retain Graduate Status in the Master program, a student must maintain an overall GPA of 3.00 or higher.

    Overall GPA
    Students must earn an overall GPA of at least 3.0 in their Masters program.

    Pass Written Comprehensive Examination
    The purpose of the Written Comprehensive Exam is for students to demonstrate their mastery of core material drawn from the CMMU management curriculum.

    TOEFL ITP score of 520+ prior to graduation
    (Equivalent to TOEFL IBT 68, IELTS 5.0 or MU GRAD TEST 70)

69 Vipawadee Rangsit Road
Samsennai, Phayathai District,
Bangkok, Thailand 10400
Tel: 662 206 2000 Fax: 662 206 2090
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