M.Sc. in Energy Studies without specialisation
by Distance Learning
The M.Sc. programme is designed for economists and non-economists who wish to gain and understanding of the economics of the international petroleum and energy industries.
Structure
The MSc is made up of 200 credits as follows:
| The M.Sc. is made up of 200 credits as follows: | |
|---|---|
| Compulsory modules | 60 credits |
| Core modules | 40 credits |
| Optional modules | 60 credits |
| Dissertation, Internship or extended PhD Proposal | 40 credits |
200 credits |
|
Compulsory Modules
Energy Economics: The Issues (20 credits)
The primary objective of this module is to provide an introduction and background to those essential concepts that allow an understanding of the issues faced by the energy sector from the perspective of an economist.
The emphasis is on understanding
The concepts, theories and analytical frameworks to be applied to particular issues or problems faced by the energy sector.
How to use basic economic ideas and concepts to analyse the energy sector issues.
The skill is to analyse the energy sector issues relying on simple economic concepts.
Energy Economics: The Tools (20 credits)
The primary objective of this module is to provide an introduction and background to those essential concepts that allow an understanding of the energy sector from the perspective of an economist.
The emphasis is on understanding
The basic concepts related to energy demand, supply and investments and their interaction in the economic framework of markets.
Specific technical features of the energy sector.
The skill is to identify an appropriate approach or tool to be used to analyse topical issues faced by the energy sector.
Induction Programme (20 credits)
The Induction Programme provides students with vital knowledge and skills before they embark on the main components of CEPMLP's taught Masters and Diploma programmes. CEPMLP students have a wide range of academic and professional backgrounds and the Induction Programme provides each student with a basic introduction to all the main disciplines included in the degrees programmes, namely law, economics, finance and geology. It also provides training in research methods.
Core Modules
Candidates should choose a minimum of 40 credits from the list below:
Financial and Project Analysis for Natural Resources and Energy Ventures (20 credits)
The main aim of this module is to introduce the student into current methods of financial and project appraisal techniques that relate to natural resources and energy organisations. This is a practical module in which evaluation techniques and concepts are taught, such as discounted cash flows and pay back period, which are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. These are set within the business framework of the overall capital budgeting processes of these organisations. The student should be able to recommend the appropriate appraisal techniques to a given capital investment, along with an appreciation of social and other non-financial features. Taxation and sources of finance are also introduced in this module, but any in-depth analyses of them can only be provided in other modules.
Legal Framework for International Project Finance (20 credits)
The module aims to demonstrate how project finance can be used to fund investment in energy, petroleum and mining (and infrastructure) projects. Another objective of the module is to provide an understanding of the issues surrounding project financing in the mentioned sectors.
The emphasis is on providing the student with a practical understanding of the issues and key areas of concern which are revealed by careful examination and analysis of proposed energy, petroleum or mining projects.
The module will also look at how governments might encourage the use of project financing in cases where domestic funding is not sufficient to meet demand.
Mineral and Petroleum Taxation (20 credits)
This module provides an introduction to mineral and petroleum taxation. It alerts students to the main policy issues in this area and the main instruments and forms of resource taxation. Rather than teaching skills in accounting and financial analysis, the course emphasises a broad understanding of the issues.
Mineral Resources Policy and Economics (20 credits)
The main objective of this course is to give an understanding of the main economic forces that drive and influence the hard-rock mineral industries, and of the major economic policy issues for the industry. Students will acquire an appreciation of both the macro- and micro-economic factors that affect the industry and that provide the context for all legal and policy issues. They will also be introduced to the various conflicting aims and objectives of all concerned with the industries, and with the consequent problems for policy resolution.
Petroleum Policy and Economics (20 credits)
The main aim is to equip the students with an understanding of how economic analysis can help inform and understand the international oil and gas industry. This requires the students to be familiar both with the relevant economic analysis and technical dimensions of the industry. In addition the course enables the student to become familiar with current issues in the industry.
Optional Modules
Candidates should choose a minimum of 60 credits for the M.Sc..
In common with other CEPMLP degrees, any approved module can be included in the optional modules. The optional modules below are only a suggestion as to which modules students might be advised to take.
Downstream Energy Law and Policy (20 credits)
The primary objective of the course is to provide an introduction and background to the way in which legislation and regulation can be used to implement policy decisions in the downstream energy industries. The emphasis is on understanding the way in which policy decisions to restructure the (electricity and gas) industries lead to changes in both legislation and the approach of regulators. The skill is to identify what makes particular approaches successful in particular legal environments. This course is not aimed only at lawyers, but also at those influencing the policy debate who must have an understanding of the implementation of policy changes.
Environmental Law and Policy for Natural Resources and Energy (20 credits)
The course deals with selected issues central to understanding international and national environmental policy and law related to production and consumption of natural resources and power generation. It addresses, in particular, environmental problems arising in connection with production and transportation of petroleum (both on-land and offshore), mining activities, use of nuclear energy, including production of uranium and disposal of radioactive wastes, and use of fossil fuels, including transboundary air pollution and global climate effects. A special emphasis is placed on the solutions for environmental problems provided by various national regulatory systems, in particular British and North American.
International and Comparative Mineral Law (20 credits)
The module provides an introduction to the main legal and policy issues in the mining industry, with an emphasis on the common methods within which mining is regulated. The approach is a comparative one and focuses on techniques applicable in various settings and countries, noting the influence of law, economics, finance, technical aspects and geology. Students will acquire understanding of the key law and policy issues relating to the regulation of mining, including the ownership of minerals and application for rights to mine; and the effects that mining can have, on environment and communities, and how these are addressed.
International Petroleum Law and Policy (20 credits)
The main objective of this module is to provide an understanding of the main law and policy issues in the international petroleum industry, with an emphasis upon transactional agreements concluded between host government and oil company/investors.
Common and diverging objectives between the two parties and indeed among the international corporate and financial investors themselves are faced in a candid and practical way, with an emphasis upon ways of accommodating the interests of diverse stakeholders in the development of petroleum resources.
A brief introduction is provided to petroleum taxation issues. The module focuses upon problem-solving techniques in a variety of settings, noting the inputs of lawyers, economists, accountants, engineers and geologists.
Investment Decision Making in the Energy and Mining Industries (20 credits)
The primary aim of the course is to provide a detailed consideration of the theory of finance as it applies to the energy and mining industries and to consider how the theory is applied in practice. The two key focus areas will be investment decision making with uncertainty and how the investment demands are financed.
M.Sc. Candidates
In addition to the Induction Programme plus the core and elective modules, M.Sc. candidates are required to complete an additional 40 credits as follows:
The Dissertation: Candidates are required to write a Dissertation of up to 15,000 words on a topic approved by an academic supervisor.
or
An Internship: Candidates are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor. The Internship includes the submission of a written report as part of the assessment.
or
An extended PhD Proposal: Candidates who propose to follow up the M.Sc. with a PhD may, with the approval of an academic supervisor, submit a 10,000 word PhD proposal in lieu of the Dissertation.