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Courses UK » Petroleum, Energy Economics and Finance at University of Aberdeen

Petroleum, Energy Economics and Finance

Semester One

Economic Analysis 

Equips students with an understanding of micro and macroeconomic modelling techniques. 


Provides students with an understanding of accounting information and financial reporting and introduces key aspects of financial analysis.

Introduction to Corporate Finance

Equips students with the analytical skills in order to understand the implications of corporate financing decisions and the theoretical underpinnings of corporate finance theory.

Quantitative Methods

Introduces the statistical and quantitative methods used in economics and finance.

Introduction to Energy and Petroleum Economics 

Applies economics and finance principles to examine key issues in the petroleum and energy industries.  Issues examined include an analysis of the world petroleum market, the Hotelling model and oil price behaviour, the role of OPEC plus global warming, renewable policy.


Semester Two

Business Strategy 

Provides a systematic approach to strategic thinking (game theory) and uses its concepts to explain understand how businesses interact strategically.

Real Options and Decision Making  Develops students’ analytical skills and understanding concerning investment decisions under uncertainty.  It introduces students to methods of analysis of the benefits and costs of investment decisions and provides an appreciation of how these are useful to decision makers in the petroleum and energy industries industry.

Issues in Energy & Petroleum Economics  Further application of economics to key issues in the energy and petroleum sectors.  Recent Topics have included:  Petroleum Policies, Economic rents and their collection of to the state, Licensing and other policy issues, Modelling prospects for an oil province, Economics of Decommissioning, Carbon Capture and Storage,  Electricity Markets and Wind Energy,  Energy Security. 

Empirical Methods In Energy Economics  Applies a range of empirical methods to issues in energy including analysis of energy spot and future prices using time series econometric techniques, economic evaluation using Monte Carlo simulation, modelling using linear programming, application of partial equilibrium modelling to energy market analysis. 

Summer Term

Dissertation Projects cover a wide range of topics examining various economic and finance issues in the petroleum and energy industries.  For example, past projects have undertaken economic analysis of oil and gas taxation in various counties, analysis of issues in energy infrastructure, energy policy analysis, application of real options analysis to investments in the petroleum and energy industries.  Opportunities also exist for students to undertake their dissertations in association with companies involved in the energy industry. 

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