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EC50B1: QUANTITATIVE METHODS FOR ENERGY (2019-2020)

Last modified: 25 Sep 2019 09:58


Course Overview

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.

Course Details

Study Type Postgraduate Level 5
Session Full Year Credit Points 15 credits (7.5 ECTS credits)
Campus Aberdeen Sustained Study No
Co-ordinators
  • Mr Russell Williams

What courses & programmes must have been taken before this course?

  • Any Postgraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

Participants will be introduced to basic mathematical concepts such as discounting, calculus, unconstrained and constrained optimisation, and matrix algebra focusing on straightforward examples of how these concepts are applied. The course will also review basic statistical concepts and extend them to hypothesis testing and least squares regression methodologies which form the backbone of empirical testing of theories. Examples and applications from various areas of energy economics and finance will be used in order to illustrate the methods. The course will also discuss some potential problems in these methodologies as well as offer ways to overcome these problems. 


Details, including assessments, may be subject to change until 31 August 2023 for 1st half-session courses and 22 December 2023 for 2nd half-session courses.

Summative Assessments

Essay

Assessment Type Summative Weighting 100
Assessment Weeks Feedback Weeks

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Feedback

Students are given the option to choose between an essay and an exam, they will not do both. Individual feedback through online platform.

 

Word Count 3000
Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Exam

Assessment Type Summative Weighting 100
Assessment Weeks Feedback Weeks

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Feedback

Students are given the option to choose between an essay and an exam, they will not do both. Generic feedback will be provided through the online platform.

Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Formative Assessment

self assessed digital workbook

Assessment Type Formative Weighting
Assessment Weeks Feedback Weeks

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Feedback

informal feedback via model answers 

Learning Outcomes
Knowledge LevelThinking SkillOutcome
Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
ConceptualAnalyseBy the end of the course, students should be able to demonstrate an understanding of probability and its applicability in modelling
ProceduralEvaluateBy the end of the course, students should be able to demonstrate an ability to formulate and evaluate testable statistical hypotheses using the linear regression model
ReflectionEvaluateBy the end of the course, students should be able to demonstrate an ability to carefully interpret regression results
ConceptualUnderstandBy the end of the course students will acquire a knowledge and understanding of a variety of economic and financial data
ConceptualAnalyseBy the end of the course, students should be able to demonstrate an understanding of probability and its applicability in modelling
ProceduralEvaluateBy the end of the course, students should be able to demonstrate an ability to formulate and evaluate testable statistical hypotheses using the linear regression model
ReflectionEvaluateBy the end of the course, students should be able to demonstrate an ability to carefully interpret regression results
ConceptualUnderstandBy the end of the course students will acquire a knowledge and understanding of a variety of economic and financial data

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