• For Entry: January | September
  • Duration: 12 months
  • School: Social Sciences
  • Study Mode: Full Time

A course for economists and non-economists who want to understand the economics of the international petroleum and energy industries.

TEF Gold - Teaching Excellence Framework
 

The aim of the MSc programme is to prepare participants for managerial, advisory and academic positions in the energy sector. The programme aims to provide an intellectually challenging academic programme of study, which will demand of the student the ability to analyse, synthesise and evaluate key theoretical concepts and practical applications in energy with an emphasis on the economic dimensions of the subject.

The world's long-term economic development depends on the existence of efficient, innovative and creative energy and resources industries. These in turn rely on individuals who possess a sound grasp of their legal, economic, technical and policy backgrounds.

The CEPMLP is at the heart of these issues and provides the best in advanced education in its field, preparing its graduates to meet the challenges posed by the evolving global economy.

Throughout its history, the CEPMLP has achieved continuous growth and has established international pre-eminence in its core activities: scholarly performance, high level academic research, strategic consultancy and top-quality executive education. Currently, we have over 500 registered postgraduate students from more than 50 countries world-wide.

All modules are heavily contextualised and draw on the wide global network of expert staff in delivering a cutting edge programme of the highest quality and relevance to students.

All modules will be delivered on the campus of the University of Dundee in face-to-face mode. Self-study makes up a considerable proportion of the student's learning experience. Formal and informal group work occurs in some modules.

Who should study this course?

This programme is designed for graduates with a good first degree, who aspire to work in the Energy sector and who have a particular interest in Oil & Gas or related sectors. To gain admission to the MSc Energy Studies programme, students are expected to hold a good honours degree or equivalent.

Teaching Excellence Framework (TEF)

The University of Dundee has been given a Gold award – the highest possible rating – in the 2017 Teaching Excellence Framework (TEF).

Read more about the Teaching Excellence Framework

TEF Gold - Teaching Excellence Framework

How you will be taught

The intended learning outcomes of the programme are as follows:


Knowledge & Understanding:
Knowledge of the main economic tools available for analysing the international energy industry.
An understanding of the key policy issues relating to the exploitation, trade, processing and consumption of energy.



Applied Knowledge and Understanding:
The ability to:
Use economic analysis to understand issues in the international energy industry.
Explain to others what forces are driving the international energy industry, market and players.
Provide an informed opinion on approaches and strategies in the international energy sector.



Generic Cognitive skills
The ability to:
Critically review information and critically analyse issues relating to the international energy sector, informed by developments at the forefront of the subject.



Communication, IT & numeracy skills
The ability to:
Communicate in writing complex ideas concisely and clearly.



Autonomy, accountability & working with others
The ability to:
Exercise autonomy and initiative in the identification and addressing of problems and issues in the field of study.
Work with others and to demonstrate leadership in addressing complex issues in the field of study.

 

How you will be assessed

Each course is assessed by a combination of examinations and a research paper.

 

What you will study

Our MSc is made up of a total of 180 credits

Core Modules

The following modules must be completed (60 Credits)

Credits: 20

Overview

The aims of the module are to introduce the economic principles relevant for the energy sector, and to provide an overview of the tools typically used in performing economic analysis on the energy sector. The intended learning outcomes of the module are an understanding of the essential concepts and frameworks central to the operation and expansion of the energy sector, their economic implications, and the basic economic tools for analysing them. The module is designed for an interdisciplinary audience. It is delivered through lectures, computer laboratory work, and virtual direction. It is assessed through class participation, a research paper, and an examination. A familiarity with microeconomics principles or numerical techniques is not required but would be helpful.

Module leader

Dr Rafael (Manny) Macatangay

Credits: 20

Overview

The aims of the module are to introduce the economic principles relevant for the energy sector, and to highlight some of the most challenging economic issues facing the global energy complex. The intended learning outcome of the module is an understanding of how economic analysis informs the national and international debates on energy sector issues, and how economics research affects energy sector decisions made by industry or government. The module is designed for an interdisciplinary audience. It is delivered through lectures and virtual direction. It is assessed through class participation, a research paper, and an examination. A familiarity with microeconomics principles or numerical techniques is not required but would be helpful.

Module leader

Dr Rafael (Manny) Macatangay

Credits:20

Overview

The main objective of this course is to equip students with a basic understanding of statistical concepts, quantitative methods and econometric tools utilized in analysing energy markets. The module will give an introductory overview and practical applications of statistical theories and quantitative methods utilized in analysing energy markets and industry.

Module leader

Dr Anita Schiller

Core Specialist

A minimum of 40 credits from

Credits: 20

Overview

The main aim of this course is to introduce students to current methods of financial and project appraisal techniques that relate to natural resources and energy organisations. This is a practical course in which evaluation techniques and concepts are taught, such as discounted cash flow, internal rate of return and payback period, which are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The student should be able to recommend the appropriate appraisal techniques to a given business 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 courses.

Credits: 20

Overview

Project financing is a tool, not an outcome in itself. This course recognises that energy projects are frequently financed by lenders. Where the lenders are content to accept repayment solely from the revenues of that project – not from the wider revenues of the sponsor – there is a limitation of recourse (or at the extreme an absence of recourse). That is project financing. The course looks at how various types of energy project can be structured to achieve that goal. The bank is not an equity risk taker – its business is to take credit risks. Project finance will force the bank to take a degree of project risk, so the bank will demand a contractual structure which mitigates that risk exposure. The course is concerned with understanding the risks for various energy projects – oil development; gas development; power generators; mining projects etc – and seeing how the principle risks inherent in those projects are moved by contract to the party best able to bear the risk. The course understands that where the bank is happy with the project risk profile, it will lend. If the bank is not happy with the project risk profile, it will not lend. The course looks at the risks which can be moved and how are they moved to a party acceptable to the lender – whilst at the same time ensuring that the holder of that risk is happy with the level of payment for taking that risk.

Module leader

Stephen Dow

Credits:20

Overview

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.

Module leader

Mr Armando Zamora

Credits:20

Overview

The main objective of this module is to provide students with a practical understanding of commercial strategies currently utilized in the energy trading industry. The module will give an introductory overview, and practical applications of the financial and economic theories, and methodologies utilised in real and financial trading activities, options pricing, real options valuation techniques and asset optimization.

Module leader

Dr Jennifer Considine

Compulsory Choice Modules

40 credits from

Credits: 20

Overview

The project report contributes to the achievement of the aims of the Masters degree, by:

  • promoting a deep and critical understanding of specific issues to the specialisation of the student
  • developing originality of thought and the skills of research, analysis, argumentation and expression
  • building upon, developing and integrating the knowledge and skills acquired in taught modules

The project report should be approximately 8000 words.

Credits: 20

Overview

The internship provides the student with the opportunity to apply in the workplace the knowledge and skills learnt at CEPMLP and to learn how professionals in the field perform their tasks.

Students who choose this option 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.

The internship requires an intellectual report of approximately 5000 words.

Elective Modules

Sufficient modules from the academic timetable to bring the total number of credits to 180.

In common with other CEPMLP MSc degrees, any approved module can be included in the elective modules.

What sort of jobs do alumni of CEPMLP go on to do?

The answer is a wide range of varied roles. It is important to be aware that as with any job it depends upon your level of experience and skills set as to whether the role would be suitable for you, there is no one size fits all.

Past alumni have found employment with a variety of organisations including National Oil Companies, Exploration and Production Companies, Government and Ministries and Commercial Organisations including Banks, Law Firms and Global Consultancies.

Faith Musimenta

Faith Musimenta

My first class at CEPMLP got me thinking how privileged I am to be here. We were all from different countries and almost or if not all, continents were represented by the students and lecturer. The vast knowledge that this brings is immeasurable to me as we get to share and generate ideas to create an even better energy economy.

You should have a good 4-year degree, equivalent to a UK honours degree, preferably at upper 2nd class level or above. Candidates holding the equivalent of a good 2nd class lower degree may also apply. You must provide degree certificates and academic transcripts with your application. Preferred degree disciplines are Law, Economics, Geology, Petroleum or Mining Engineering, Finance. Work experience in the energy/natural resources industry is an advantage, though it is not a strict requirement for admission to the MSc.

 EU and International qualifications


English Language Requirement

IELTS Overall 6.5
Listening 6.0
Reading 6.0
Writing 6.0
Speaking 6.0

 Equivalent grades from other test providers

 

English Language Programmes

We offer Pre-Sessional and Foundation Programme(s) throughout the year. These are designed to prepare you for university study in the UK when you have not yet met the language requirements for direct entry onto a degree programme.

 Discover our English Language Programmes

The fees you pay will depend on your fee status. Your fee status is determined by us using the information you provide on your application.

 Find out more about fee status

Fee statusFees for students starting 2018-19
Scottish and EU students £17,950 per year of study
See our scholarships for UK/EU applicants
Rest of UK students £17,950 per year of study
See our scholarships for UK/EU applicants
Overseas students (non-EU) £17,950 per year of study
This programme is eligible for our Global Excellence Scholarship

You apply for this course via the UCAS Postgraduate (UKPASS) website which is free of charge. You can check the progress of your application online and you can also make multiple applications.

You'll need to upload relevant documents as part of your application. Please read the How to Apply page before you apply to find out about what you'll need.

  Degree Course Code
Apply NowEnergy Studies with Specialisation in Energy Finance MScP037340

Course Contact

Dr Anita Schiller
Centre for Energy, Petroleum and Mineral Law and Policy
a.schiller@dundee.ac.uk
+44 (0)1382 388384

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