Postgraduate Economics 2024-2025

This course focuses on the economics of business allowing students to understand the economics that underlie a whole host of business issues. The course will cover the functioning of markets, consumer behaviour, pricing, production and costing problems, monopoly and the business implications of inflation, economic growth and economic policy.

This course develops a mathematical and statistical ‘toolbox’ for PGT students in the Business School.  These tools will be useful in understanding and implementing research in business- and economics-related fields both during a student’s academic career as well as after graduation.  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.  The final part of the course examines shortcomings in the standard model and describes ways of overcoming those shortcomings.

The course will cover the main elements of Microeconomic Theory together with how this underpins the macro economy, covering consumer theory, how consumers choose under constraint of a budget, to generate demands. How this theory can be used to consider the welfare effects of price changes will be considered. The problem of production will be examined to understand the supply, and the demand and supply side will be drawn together to consider market structure.  How the theory can be used to identify market supplies and demands  from empirical data will be examined.

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.

Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.

This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.

This course focuses on the economics of business allowing students to understand the economics that underlie a whole host of business issues. The course will cover the functioning of markets, consumer behaviour, pricing, production and costing problems, monopoly and the business implications of inflation, economic growth and economic policy.

This course discusses the world petroleum market in the context of overall energy markets.  The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve.  Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry.  The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power.  The economics of climate change and the place of renewable energy in the wider energy market is discussed.

Business Strategy covers a broad range of topics that come under the general heading of “Business Strategy” / “Strategic Management”. The course introduces participants to concepts, frameworks and models that are useful in providing explanations of 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. The course is interactive in nature, applying a learning-by-doing method involving students taking on roles as part of a series of simulation exercises. 

Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.

This course teaches intermediate/advanced statistical/econometric methods at the postgraduate level. Building on the basic quantitative methods that students have learned in previous courses, they will further develop their understanding of and practical skills for more advanced statistical and econometric methods.

The course aims to instill knowledge but, much more importantly, stimulate students’ thinking about the major challenges within different health systems and the options for the health services management. Furthermore, it aims to take a genuinely international perspective on health care, providing knowledge of different health care systems and encouraging comparison and critique. It covers a wide variety of topics including an overview of the health systems around the world, the effects of social inequalities on health inequalities and their repercussions for social policy and issues of public health policy towards tobacco, alcohol and obesity.

This course introduces the student to key aspects in labour and personnel economics and how these are related to human resource practices.  It focuses on how firms seek to incentivise workers to yield efficient outcomes in the labour market.

This compulsory element of the Masters degree in Petroleum, Energy Economics & Finance is the final stage of the degree programme.

​There is an interest in raising the level of understanding of mathematics in the financial sector. This course is a part of the new MSc programme in Financial Mathematics and provides students with the theoretical and practical skills related to mathematical modelling of financial markets.

The main aim of the course is to equip students with good analytical skills in order to understand the

The main aim of the course is to equip students with good analytical skills in order to understand the implications of corporate financing decisions and to enable students to understand the theoretical underpinnings of corporate finance theory.

After completing the course students should acquire not only a sound knowledge about corporate finance theory but also practical skills of using that knowledge for solving practical problems within the corporate finance theme.

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

The course will cover the main elements of Microeconomic Theory focusing on how they apply in the energy sector. The aim of the course is to provide students with an understanding of how economic entities, consumers and producers/firms, make choices. To do that, the content of the course will develop the participant's ability to apply core microeconomic principles and analytical methods in relation to relevant theory and model-based analysis. As well as to familiarise himself/herself with different methods of analysis adopted by economists through an awareness of the importance of model building and the choice of assumptions.

The course will focus on consumer theory,  examining how consumers make chooses, under the constraint of a budget, to generate demands. This theory could be extended to include choice under uncertainty and intertemporal choice. Producer theory will also be examined providing an understanding of how firms decide what and how much to produce. The demand and supply side will be drawn together to consider the different market structures and how they determine the price and quantity at which the good will be traded in the market. Other relevant topics, such as auctions and contract structure could be covered.

Dissertation project for MSc Law & Economics of Oil and Gas