Last modified: 22 Jul 2026 13:42
The energy and the financial sectors rely heavily on analysis based on quantitative and empirical methodologies. This course develops a mathematical and statistical ‘toolbox’ for the participants, essential for the in-depth understanding of economic and financial analysis. This course surveys some of the basic methods used to understand the underlying theories and empirical examples found in these fields. Throughout the course, we use econometric software and data from the energy and financial sectors to interpret key research findings and grow your knowledge in these critical areas.
| Study Type | Postgraduate | Level | 5 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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The first part of the course covers basic mathematical models and fundamental statistical concepts, such as probability analysis, sampling and hypothesis testing. The second part of the course develops standard data analysis methods, including least squares regression methodologies, which form the backbone of empirical testing of theories. Examples and applications from finance and various areas of energy economics will be used in order to illustrate quantitative methods and demonstrate how to proficiently master them using econometric software. The course will also discuss some potential problems in these methodologies as well as offer ways to overcome these problems.
| Assessment Type | Summative | Weighting | 15 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2 x MCQs worth 7.5% each MCQ test |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Demonstrate a critical understanding of econometric theory and practice by constructing and assessing classical linear regression models using appropriate software |
| Procedural | Apply | Formulate testable hypotheses, interpret regression results, and use critical thinking to identify when model assumptions are violated and what implications this has for analysis. |
| Procedural | Evaluate | Make informed, justified choices in quantitative approaches to financial and economic issues, demonstrating intellectual independence and sound reasoning. |
| Procedural | Evaluate | Critically evaluate and apply concepts of probability, estimation, and hypothesis testing to support evidence-based modelling and decision-making in complex financial economics contexts |
| Assessment Type | Summative | Weighting | 85 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2,500 to 3,000 words written assessment. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Demonstrate a critical understanding of econometric theory and practice by constructing and assessing classical linear regression models using appropriate software |
| Procedural | Apply | Formulate testable hypotheses, interpret regression results, and use critical thinking to identify when model assumptions are violated and what implications this has for analysis. |
| Procedural | Apply | Collect, analyse, and present financial and economic data using advanced quantitative techniques (e.g., correlation, linear regression), employing econometric software to ensure analytical rigour. |
| Procedural | Evaluate | Make informed, justified choices in quantitative approaches to financial and economic issues, demonstrating intellectual independence and sound reasoning. |
| Procedural | Evaluate | Critically evaluate and apply concepts of probability, estimation, and hypothesis testing to support evidence-based modelling and decision-making in complex financial economics contexts |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2,500 to 3,000 words written assessment. |
|||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
|
|
||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | Demonstrate a critical understanding of econometric theory and practice by constructing and assessing classical linear regression models using appropriate software |
| Procedural | Evaluate | Make informed, justified choices in quantitative approaches to financial and economic issues, demonstrating intellectual independence and sound reasoning. |
| Procedural | Evaluate | Critically evaluate and apply concepts of probability, estimation, and hypothesis testing to support evidence-based modelling and decision-making in complex financial economics contexts |
| Procedural | Apply | Collect, analyse, and present financial and economic data using advanced quantitative techniques (e.g., correlation, linear regression), employing econometric software to ensure analytical rigour. |
| Procedural | Apply | Formulate testable hypotheses, interpret regression results, and use critical thinking to identify when model assumptions are violated and what implications this has for analysis. |
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