Avendri Simatupang
Energy, Economics and Finance, MScEcon
Introduction
The MSc Energy Economics and Finance is a programme both intellectually challenging and provides the career-ready credentials that are essential to increase your appeal with employers within an energy economics context.
Study Information
At a Glance
- Learning Mode
- On Campus Learning
- Degree Qualification
- MScEcon
- Duration
- 12 months
- Study Mode
- Full Time
- Start Month
- September
- Location of Study
- Aberdeen
The MSc Energy Economics and Finance is an intellectually challenging programme that equips students with the analytical skills and industry knowledge needed to thrive in the energy sector.
The University of Aberdeen is a global leader in energy and economics education, with teaching and research excellence spanning decades. Our MSc Energy, Economics and Finance builds on the Business School’s strong expertise and incorporates valuable industry input through direct engagement with multinational corporations, government agencies, and professional practitioners.
With a renowned energy economist, Professor Alexander Kemp OBE actively teaching on the programme, students gain insights from world-leading expertise This MSc programme is designed for energy professionals looking for a recognised path to career progression, or for anyone keen to understand the energy industry, how decisions are taken, and policies made. Students develop the ability to evaluate market trends, energy policies, and investment decisions in a dynamic global context.
The University’s Business School is home to research centres such as the Scottish Experimental Economics Laboratory (SEEL), the Centre for Labour Market Research (CeLMR), and the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF). Strong links with industry and government bodies provide unique opportunities for practical learning and impactful research. Graduates have gone on to work with organisations such as the Scottish Government, BP, and Total, leveraging their expertise to shape the future of the energy sector.
What You'll Study
- Semester 1
-
Compulsory Courses
- Economic Analysis (BU5033)
-
15 Credit Points
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.
- Quantitative Methods (BU5025)
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15 Credit Points
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.
- Investment and Real Options Analysis for Energy (BU505J)
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15 Credit Points
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.
- Contemporary Issues in Energy Economics (BU505G)
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15 Credit Points
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.
- Semester 2
-
Compulsory Courses
- Internationalisation (BU5579)
-
15 Credit Points
International Business is a wide-ranging subject that includes economic, political, cultural and technological facets. The aim of this course is to provide an introduction to the complexities of international business management by examining how the global environment and our understanding of these affect management within an international context.
- Empirical Methods in Finance Research (BU5565)
-
15 Credit Points
This course aims to provide students with the quantitative skills to undertake extended investigation of financial data and assist in financial decision making. It introduces various standard time series techniques such as univariate and multivariate time series modelling, unit root tests, and volatility modelling. Particularly emphasis is on intuitive discussions of the methods, and practical examples and applications are also included.
- Economics of Energy Transition (BU555H)
-
15 Credit Points
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.
- Resource Rent and Energy Policy (BU555E)
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15 Credit Points
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.
- Semester 3
-
Compulsory Courses
- Dissertation in Energy Economics and Finance (BU595P)
-
60 Credit Points
This compulsory element of the Masters degree in Petroleum, Energy Economics & Finance is the final stage of the degree programme.
We will endeavour to make all course options available. However, these may be subject to change - see our Student Terms and Conditions page.
| Fee category | Cost |
|---|---|
| EU / International students | £26,250 |
| Tuition Fees for 2025/26 Academic Year | |
| Self-funded international students commencing eligible postgraduate programmes in 2025/26 will receive a £8,000 tuition waiver - See full terms and conditions | |
| UK | £11,900 |
| Tuition Fees for 2025/26 Academic Year Graduates of the University of Aberdeen are eligible for the Alumni Postgraduate Scholarship, which reduces the tuition fee to £7,000, in line with the current tuition fee loan amount offered by the Student Awards Agency Scotland (SAAS). Please see the following for full terms and conditions: https://www.abdn.ac.uk/study/funding/653 | |
Fee Information
Additional Fee Information
- In exceptional circumstances there may be additional fees associated with specialist courses, for example field trips. Any additional fees for a course can be found in our Catalogue of Courses.
- For more information about tuition fees for this programme, including payment plans and our refund policy, please visit our Tuition Fees page.
Funding Opportunities
The University of Aberdeen provides an Alumni Discount Scheme:
The University of Aberdeen is very pleased to offer a 20% discount on postgraduate tuition fees for all alumni who have graduated with a degree from the University of Aberdeen. More Information can be found here.
Scholarships
All eligible self-funded international Postgraduate Masters students starting in September 2025 will receive an £8,000 scholarship. Learn more about this Aberdeen Global Scholarship here.
To see our full range of scholarships, visit our Funding Database.
How You'll Study
In the first semester of this one-year MSc, you will develop essential analytical skills, study the fundamental micro and macroeconomic modelling techniques, and spend time understanding the critical aspects of financial analysis. You will also explore key contemporary issues in energy economics.
In the second semester, the focus shifts to energy policy, the economics of energy transition, and internationalisation, equipping you with advanced insights into global energy markets.
During the summer term, you will complete a dissertation on a key topic in energy economics and finance, applying your knowledge to real-world industry challenges. For part-time students, a flexible structure allows course selection over two years, balancing study with professional commitments.
Learning Methods
- Individual Projects
- Lectures
- Research
- Seminars
- Tutorials
Assessment Methods
You’ll attend a variety of stimulating lectures, seminars and tutorials, with your skills and competency assessed by a mix of presentations, traditional exams, essays and projects.
Why Study Energy, Economics and Finance?
Specialist Industry Focus:
The programme is highly specialised in energy markets, finance, and policy. It covers investment analysis, decommissioning, just transition, and energy transition—all critical in today's sector. The corporate finance applications make it ideal for careers in energy investment and financial analysis.
Strong Quantitative and Analytical Training:
Students develop energy market analysis skills, project evaluation expertise, and economic forecasting abilities. Courses in Advanced Data Analysis and Resource Rent & Energy Policy prepare graduates to handle complex economic modelling in the energy sector.
Led by Renowned Experts:
The programme benefits from the leadership of Professor Alexander Kemp OBE, a globally recognised energy economist, providing students with valuable credibility and networking opportunities.
Applied Learning & Industry Integration:
The curriculum incorporates real-world case studies, industry guest lectures, and dissertation opportunities with major energy firms and government bodies. We offer exclusive workshops on topics like Joint Venture Contracts (delivered by industry experts) and Gas in the Energy Transition (led by a former BP Senior VP).
Excellent Career Prospects:
Graduates secure roles in government, consultancy, and major energy firms in areas such as energy policy and regulation, financial analysis, and market research. Alumni have completed dissertation projects with Total, BP, and the Scottish Government.
Strategic Location & Industry Connections:
As Europe's Energy Capital, Aberdeen offers unparalleled networking opportunities. The University hosts the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF) and the Aberdeen University Centre for Energy Law (AUCEL), providing students access to leading academics, industry reports, and policy insights.
What Our Students Say
Bright Sarfo
Entry Requirements
Qualifications
The information below is provided as a guide only and does not guarantee entry to the University of Aberdeen.
Our minimum entry requirement for this programme is an undergraduate degree at UK Honours level (or a degree from a non-UK institution which is judged by the University to be of equivalent worth).
Please enter your country or territory to view relevant entry requirements.
English Language Requirements
To study for a Postgraduate Taught degree at the University of Aberdeen it is essential that you can speak, understand, read, and write English fluently. The minimum requirements for this degree are as follows:
IELTS Academic:
OVERALL - 6.5 with: Listening - 5.5; Reading - 6.0; Speaking - 5.5; Writing - 6.0
TOEFL iBT:
OVERALL - 90 with: Listening - 17; Reading - 21; Speaking - 20; Writing - 21
PTE Academic:
OVERALL - 62 with: Listening - 59; Reading - 59; Speaking - 59; Writing - 59
Cambridge English B2 First, C1 Advanced or C2 Proficiency:
OVERALL - 176 with: Listening - 162; Reading - 169; Speaking - 162; Writing - 169
Read more about specific English Language requirements here.
Document Requirements
You will be required to supply the following documentation with your application as proof you meet the entry requirements of this degree programme. If you have not yet completed your current programme of study, then you can still apply and you can provide your Degree Certificate at a later date.
- Degree Transcript
- a full transcript showing all the subjects you studied and the marks you have achieved in your degree(s) (original & official English translation)
- Personal Statement
- a detailed personal statement explaining your motivation for this particular programme
Aberdeen Global Scholarship
Eligible self-funded Postgraduate Taught (PGT) students will receive the Aberdeen Global Scholarship. Eligibility details and further information are available on our dedicated page.
Aberdeen Global ScholarshipCareers
If you’re a professional already working in the energy sector, this degree provides a strong route to career progression. You’ll graduate ready to take up roles including:
- Commercial Analyst
- Economist
- Energy and Business Consultant
- Market Analyst
- Oil and Gas Associates
- Project Manager
- Strategy Analyst
Industry Links
Your tutors include Professor Alex Kemp, OBE. A Professor of Energy Economics, Alex is also Director of the internationally recognised Aberdeen Centre for Research in Energy Economics and Finance (ACREEF).
All your tutors are members of ACREEF, and are active in research and teaching across energy economics. As well as interacting with leading researchers in the field, you’ll benefit from direct input from our significant range of energy industry partners.
Accreditation
The Business School is EQUIS accredited, placing it among a select group of globally recognised institutions. Out of over 15,000 business schools worldwide, only around 200 schools across 45 countries have attained this distinction.
This degree holds accreditation from
What our Alumni Say
Doris Agbevivi
Our Experts
You will be taught by and have access to a number of experts, many of whom are internationally renowned within their respective fields. These will include members of the Scottish Experimental Economics Laboratory (SEEL), the Centre for Labour Market Research (CeLMR), and the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF)
- Programme Leader
- Dr Hossein Radmard
- Other Expert
- Prachi Singh
Information About Staff Changes
You will be taught by a range of experts including professors, lecturers, teaching fellows and postgraduate tutors. However, these may be subject to change - see our Student Terms and Conditions page.
Facilities
The University of Aberdeen, established in 1495, is Scotland’s third oldest and the UK’s fifth oldest University. The university’s ancient campus reflects its long-standing academic tradition, with historic buildings such as King's College, which dates back to the 15th century. This blend of ancient architecture and modern facilities creates a unique atmosphere where students can experience the best of both tradition and innovation.
Sir Duncan Rice Library
The University’s award winning Sir Duncan Rice Library is listed in the “Top 20 spellbinding University libraries in the World”. It contains over a million volumes, more than 300,000 e-books and 21,000 journals.
Find out more
Aberdeen City
Named Scotland's Safest University City (Unbroken Britain Survey, Provident Financial, 2018) and is in the top 10 in the UK for places to live and work (PricewaterhouseCoopers, 2018).
Affordability
Aberdeen has been named the cheapest place for students to rent private accommodation in the UK. In 2024, StuRents reports that the average price of a student private rental property in the Granite City was just over £96 a week.
Get in Touch
Contact Details
- Address
-
Business School
University of Aberdeen
MacRobert Building
King Street
Aberdeen
AB24 3FX