Online Economics 2024-2025

This course introduces key techniques from economics and finance to allowing understanding of the basics of business decision making within the energy industries and the economic implications of key energy policies. We consider basic financial concepts such as: present value, the opportunity cost of capital and their role in business decision making in energy industries. We also consider key economic elements of markets and how the economic environment structures the way in which businesses make decisions and energy market outcomes.

The energy and the financial sector relies heavily on analysis based on quantitative and empirical methodologies. This course develops a mathematical and statistical ‘toolbox’ for the participant, essential for the in-depth understanding of economic analysis. This course surveys some of the basic methods used to understand the underlying theories and empirical examples and tests found in these fields. 

The first part of the course covers basic mathematical models common across these fields. The second part of the course develops standard data analysis methods, including multivariate regression. Applications from various energy economic areas are used in order to illustrate the mathematical and statistical concepts.

This module will seek to answer the following questions

1. What is it that Governments are attempting to tax?
2. How should a Government measure the size of the tax base?
3. How should a Government ensure that it collects a fair share of the tax base without distorting a company’s decision to invest?

To answer these questions we will examine the theory of rent, which lies at the heart of petroleum taxation. In addition, we will look at the financial calculations that oil companies make in reaching a decision to explore for and to produce oil. These decisions are rooted in the assessment of risk, the accounting for time, and the calculation of a sufficient return on the investment planned. Finally, we will examine the instruments that governments use to collect a share of rents, and, by employing practical spreadsheet models, that you will build, examine the interplay of these instruments to understand how an effective and efficient fiscal regime can be constructed.

This course covers a broad range of topics that come under the general heading of ‘Business Strategy’. The course introduces students to concepts, frameworks and models that are useful for providing explanations on how companies operate with respect to goal setting, understanding their competitive landscape, assessing opportunities, managing own capabilities, coordinating their activities with other companies, and competing to create value for customers.

This course offers an in-depth study of investment decision-making, especially in the energy sector. It combines theoretical frameworks with practical skills to prepare students for the complexities of corporate finance. The course covers four key areas: Time Value of Money, Decision Rules, Financial Analysis Workshops, and Risk Assessment. Graduates will gain a solid understanding of corporate finance, practical investment analysis skills, and essential professional competencies.

The main aim of the course is to equip students with good analytical skills in order to understand the role of data within the energy sector, in particular in the context of decision making under uncertainty and to apply time series econometric tools 

After completing the course students should acquire not only a sound knowledge about underlying statistical concepts, but also practical skills of using that knowledge for solving practical problems within the energy sector.

Special attention in this course is given to the Oil&Gas sector and the discussed topics are referred to the examples from this sector.

Offshore oil and gas decommissioning is here to stay and is increasingly being regarded as a normal aspect of doing business in the oil and gas industry, alongside exploration, development and production.

This course provides an in-depth understanding of the main issues in contemporary offshore oil and gas decommissioning, and develop student skills to analyse and evaluate the different decommissioning options which face society and oil and gas businesses.

The course takes an interdisciplinary approach to these issues, combining aspects of law, regulation, engineering, commercial and economics.

In the face of climate change the energy system is undergoing a structural transition from fossil fuels to more sustainable methods of energy.  This is an unprecedented challenge what is required in terms of cooperation between countries, changes in technologies, and consumer behaviours. 

Learn about the international challenges as the energy system moves from fossil fuels to more sustainable methods of energy sources.  Expand your ability to analyse the key issues important in understanding how the world might make this transition.

Managing resource wealth can impact the economic growth and development of a country for generations. Many countries with large natural resource endowments do not have the institutional structures to exploit the potential of the vast revenues they receive and can suffer as a result, potentially leading to the so-called “resource curse”.  

Learn about the economics and politics of natural resource extraction, the problems that can arise for countries with abundant natural resources, and the ways which governments can better manage this wealth.

Producing and using energy is fundamentally bound up with environmental issues and challenges For example, climate change; oil spills, Acid Rain, environmental pollution and health in cities, bind the use (and misuse) of the natural environment with energy.  In this module you will learn how institutions and structures affect the incentives for energy firms and consumers to damage the environment or otherwise, how to analyze the trade-offs between environmental damage and economic activity associated with the energy industry.  How should governments response and what policies are likely be effective in context of environmental challenges such as Climate change? Can emissions trading and taxes help?