Accounting Students Trip to the Bank of Thailand Museum 2020

On 1st February 2020, the Department of Accounting at St. Theresa International College arranged a field trip for the accounting major students – to visit the Bank of Thailand Museum. This is a part of STIC’s effort to promote our students to learn from the history of Thai coins and banknotes, together with roles and responsibilities of BOT for monetary policy.

During this trip, students were privileged to receive a presentation by the museum authority to learn about the history of the Thai central bank, money printing and storing process, the evolution of money used as a medium of exchange in Thailand, as well as the role of the Bank of Thailand in safeguarding the Thai financial markets and promoting economic growth. They also able to know the importance of saving and process of saving by observing various saving concept of the museum. The students had also an opportunity to ask questions and discuss about the challenges Thailand is facing from the recent strong Thai Baht.

Beside the often-discussed monetary policy tools such as interest rates and exchange rates students also discovered an unthought-of aspect of modern monetary policy conduct – something rather unorthodox and complementary to the usual textbook theories.

Moreover, the students were also shown a short documentary video on the evolution of Thai money, which helps the students to know the historic development of Thai money as a medium of exchange: ancient money from the Funan, Davaravati, and Sri Vijaya Kingdoms; Pot Duang; Thai coins; Thai bank notes, money from the north (Lanna money) and the northeast (Lanchang money).

The students also visited the Bangkhumprom Place of the museum where they could able to know the life, works, activities, the talents of H.R.H Prince Paripatra Sukhumbhand, Prince of Nakornsavarn, and artistic values in architectural.