• For Entry: January | February | March | April | May | June | July | August | September | October | November | December
  • Duration: 24 months - 60 months
  • School: Social Sciences
  • Study Mode: Full Time+Part Time+Distance Learning

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 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 Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP), University of Dundee 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. Stimulated by oil and gas developments in the North Sea, the CEPMLP was established in May 1977.

Our students achieve the practical and professional skills needed to mastermind complex commercial and financial transactions in the international workplace, with exposure to many varied and exciting opportunities. Our interdisciplinary approach to teaching, research and consultancy provides a unique perspective on how governments, business and communities operate, providing the professionals of today with the ability to meet the challenges of tomorrow

As an internationally renowned graduate school in the field of international business transactions, natural resources and energy law and policy, our distance learning programmes provide a rigorous training for graduate students and working professionals who cannot afford the time to undertake full time studies.

The aim of the MSc programme 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 MSc programme offers students an unrivalled ability to tailor their programme of study to their own particular interests and learning objectives.  These allow for the development of in-depth and specialist knowledge of business management, legal, economic and policy issues in the petroleum and related sectors of the world economy.

Our MSC programme aim to deliver knowledge of the main economic tools available for analysing the international energy industry; an understanding of the key policy and economic issues relating to the exploitation, trade, processing and consumption of energy; an understanding of the forces that are driving the international energy industry, market and players and to provide an informed opinion on approaches and strategies in the international energy sector.

This programme is designed for graduates with a good first honours degree, who aspire to work in the Energy sector and who have a particular interest in Oil & Gas or related sectors. Why not take a few minutes to complete our application form - it could be the most far-reaching career move you'll ever make!

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

Modes of delivery

Each module will be delivered by distance learning using the My Dundee - our online learning system.

The Study Guide

  • The student will receive a hard copy of the Study Guide
  • The Study guide will be available on the My Dundee

This Study Guide has the following aims:

  • To introduce the student to the key concepts and issues of debate.
  • To guide the student towards a wide range of reading material from which they may choose what research topics to pursue.
  • To provide the student with some opportunity for self-evaluation through a combination of short questions, tasks, exercises and case studies. 

Reading Material

  • A core reading book will be provided to the DL students
  • Core and additional reading material will be available on the My Dundee. 

Academic Support/Guidance

A core team of distance learning academic staff and tutors will provide support to the students with relation to:

  • Information on the structure and content of the programme
  • Guidance on using the full range of learning guides and tools
  • Academic questions relating to particular issues in the field of study
  • Preparation of assessments and research papers
  • Feedback on assessments and research papers

How you will be assessed

Each distance learning module will be assessed by at least two methods: EITHER

Written examination and research paper (most modules are assessed in this way).  The exam and research paper are each worth 50% of your total mark.

OR

Written examination and case studies.  The exam is worth either 60% or 70% and the case studies are worth either 40% or 30% of your total mark respectively.

  • an Internship report - students who choose this option are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor, or
  • Project Report of up to 8,000 words on a topic approved by academic supervisor for MSC and MBA programmes 

 

What you will study

Our MSc is made up of a total of 180 credits

Core Compulsory Modules

Both modules must be completed (40 credits)

Credits: 20

Overview

This is a module in applied economics that applies economic analysis to energy sector issues. Various contemporary and traditional issues faced by the energy sector such as competition versus state control in the sector, pricing, regulation, environmental challenges, economics of renewable energies, as well as issues like high energy prices, energy security, energy sector reform and energy investments are considered. The aim is to familiarise the students with economic concepts and their applications to analyse and appraise the energy sector issues and policies. The module provides an international perspective and allows students to appreciate the challenges in a logical manner.

Module leader

Professor Subhes Bhattacharyya

Credits: 20

Overview

This module introduces the tools relevant for the economic analysis of energy sector challenges. The module introduces energy data and tools for demand analysis as well as the demand-side management. Similarly, it also presents the concepts for energy investment analysis and tools for analysing fossil fuel and electricity supply. Finally, it introduces the integrated analysis of supply and demand-sides. The aim of the module is to help students understand the essential tools that are required to gain a good understanding of energy economics. Students get an opportunity to see how various approaches and methods are used to deal with decision making problems in the energy sector.

Module leader

Professor Subhes Bhattacharyya

Core Modules

A minimum of 60 credits from

Credits: 20

Overview

This module deals with the economic and policy aspects of the international oil and industry. It presents the specific economic characteristics of the industry and explains the developments of the industry using economic logic. The module covers the entire supply chain of the oil and gas industry and focuses both on the supply and demand sides of the industry. It also considers the current issues and challenges faced by the industry. The main aim of the module is to help students become familiar with the economic concepts relevant for the petroleum industry and apply them to analyse relevant developments and challenges of the industry.

Module leader

Professor Subhes Bhattacharyya

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 main aim of this course is to introduce you into current appraisal techniques and concepts that relate to natural resources and energy organisations. It focuses on the internal investment decision from the perspective of the operational manager. The key starting point is the question: how can companies create value through sound investment decisions in order to support the business? As a result, we are concerned with the deployment of finance, rather than how it is generated from the financial markets.

This is a practical course in which evaluation techniques, such as discounted cash flow analysis, are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The objective is the capability to recommend appropriate appraisal techniques to a given business investment, along with an appreciation of social and other non-financial features, underpinned by a basic understanding of the principles of risk analysis.

Credits: 20

Overview

This module focuses on energy-environment interactions and highlights the role energy plays in ensuring sustainable development. The module introduces the key economic concepts used to analyse energy-environment interactions and applies them to stationary and mobile sources of pollution to bring out the effects, policy challenges and to analyse alternative measures that have been used to address these issues. The module also introduces to the economics of climate change and the Clean Development Mechanism. The aim of the module is to allow students to consider the energy-related environmental issues and policies from an economic perspective. The module provides an international outlook and helps gain a broad understanding of various energy-induced environmental challenges and policies.

Module leader

Professor Subhes Bhattacharyya

Compulsory Choice Modules

20 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 1-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.

You should have the equivalent to a UK Honours degree, preferably at 2:1 level or above. Candidates with a 2:2 degree may also apply. 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

2019/20
  Distance Learning
Registration Fee (non-refundable) £ 480
CEPMLP Specialised Modules (20 credit modules, applicable to all degrees) £ 1350
CEPMLP Specialised Modules (10 credit modules, applicable to all degrees) £ 810
Dissertation/Internship £ 1710
Additional Costs:  
Additional exam fee £ 150
Exemption request fee £ 300

All Distance Learning course fees include one examination fee and courier charges.

Advance notice is required (minimum of 6 weeks) for all on-campus courses due to class size restrictions. Contact the Distance Learning administrator for further information. 

All fees are subject to increases without prior notification.

 

Full time fees

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 2019-20
Scottish and EU students £10,950 per year of study
Rest of UK students £10,950 per year of study
International students (non-EU) £17,950 per year of study
Fee statusFees for students starting 2020-21
Scottish and EU students £7,650 per year of study
Rest of UK students £7,650 per year of study
International students (non-EU) £18,150 per year of study
See our scholarships for International applicants

Additional costs

You may incur additional costs in the course of your education at the University over and above tuition fees in an academic year.

Examples of additional costs:

One off costOngoing costIncidental cost
Graduation feeStudio feeField trips

*these are examples only and are not exhaustive.

Additional costs:

  • may be mandatory or optional expenses
  • may be one off, ongoing or incidental charges and certain costs may be payable annually for each year of your programme of study
  • vary depending on your programme of study
  • are payable by you and are non-refundable and non-transferable

Unfortunately, failure to pay additional costs may result in limitations on your student experience.

For additional costs specific to your course please speak to our Enquiry Team.

You apply for this course via the UCAS Postgraduate 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 nowInternational Energy Studies without specialisation (Distance Learning) MScP044675

Course Contact

Helen Bone
Centre for Energy, Petroleum and Mineral Law and Policy
DL-SocialSciences@dundee.ac.uk
+44 (0)1382 388350

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