Thailand Emission Trading Scheme (Thailand ETS) was established to prepare for Thailand’s emission trading in playing a part in the global movement for the reduction of CO2 emissions. The energy intensive sectors, including, petrochemicals, cement, iron and steel, electricity, and aviation industries, are selected to target industries to achieve the reduction of CO2 emission. The implementation of Thailand ETS can be expected to effect change in the Thailand economy. This study applied the concept of economic cost as the external cost is introduced ...