Faculty of Economics is an institution which was appointed based on the 11th Higher Education Development Plan, Khon Kaen University, as a faculty-level office pursuant to Article 4 of Internal Management of the Higher Education Institutions Act B.E. 2550 and the announcement of the Higher Education Commission on Criteria for Founding of Internal Offices in the Higher Education Institutions B.E. 2555. Given that Khon Kaen University had become the autonomous university, the university issued the announcement no. 1765/2558 dated the twenty-fifth of July, 2015, on the Establishment of Offices of Khon Kaen University, which specifies the establishment of offices, including the Faculty of Economics, and there was the announcement in the Royal Thai Government Gazette, Issue 132, Special Section 186 NGO dated the thirteenth of August, 2015; thus, Faculty of Economics is a faculty-level institution of Khon Kaen University. Afterwards, Khon Kaen University issued the announcement No. 125/2559 dated the fourth of February, 2016, on Management of Faculty of Economics, specifically related to the transfer of courses, students, staff and essential resources. The faculty established the dean’s office to provide any service at Building 4, 4th floor, Faculty of Management Science, as its temporary office.

With ASEAN integration and an expansion of businesses in regional areas, there has been a need for in-depth knowledge for economic development of the Greater Mekong Sub-region and for staff with knowledge and understanding of attributes of growth and problems in the region.