Online Economics 2026-2027

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.

This module will seek to answer the following questions

1. What is it that Governments are attempting to tax?
2. How should a Government measure the size of the tax base?
3. How should a Government ensure that it collects a fair share of the tax base without distorting a company’s decision to invest?

To answer these questions we will examine the theory of rent, which lies at the heart of petroleum taxation. In addition, we will look at the financial calculations that oil companies make in reaching a decision to explore for and to produce oil. These decisions are rooted in the assessment of risk, the accounting for time, and the calculation of a sufficient return on the investment planned. Finally, we will examine the instruments that governments use to collect a share of rents, and, by employing practical spreadsheet models, that you will build, examine the interplay of these instruments to understand how an effective and efficient fiscal regime can be constructed.

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.

Producing and using energy is fundamentally bound up with environmental issues and challenges For example, climate change; oil spills, Acid Rain, environmental pollution and health in cities, bind the use (and misuse) of the natural environment with energy.  In this module you will learn how institutions and structures affect the incentives for energy firms and consumers to damage the environment or otherwise, how to analyze the trade-offs between environmental damage and economic activity associated with the energy industry.  How should governments response and what policies are likely be effective in context of environmental challenges such as Climate change? Can emissions trading and taxes help?

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.

This course covers a broad range of topics that come under the general heading of ‘Business Strategy’. The course introduces students to concepts, frameworks and models that are useful for providing explanations on 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.

This course provides a comprehensive understanding of the principles, challenges, and opportunities associated with achieving sustainability and development objectives. Students will develop an understanding of urbanization and rural issues in the context of sustainable development, explore the challenges faced by global food systems and biodiversity, analyse the link between pollution, income, and health, and apply environmental concepts to understand just policy making, ensuring equitable access to natural resources and clean environment.

This course offers a comprehensive study of the principles and application of economics in sustainable resource management. It covers theory and practices concerning extraction, management and conservation of renewable resources (e.g., forests, fisheries) and exhaustible, non-renewable resources (e.g., minerals). Students explore topics such as resource pricing, environmental impacts, and policy frameworks to develop sustainable resource management strategies for addressing global challenges.

The main aim of the course is to equip students with good analytical skills in order to understand the role of data within the energy sector, in particular in the context of decision making under uncertainty and to apply time series econometric tools 

After completing the course students should acquire not only a sound knowledge about underlying statistical concepts, but also practical skills of using that knowledge for solving practical problems within the energy sector.

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

Offshore oil and gas decommissioning is here to stay and is increasingly being regarded as a normal aspect of doing business in the oil and gas industry, alongside exploration, development and production.

This course provides an in-depth understanding of the main issues in contemporary offshore oil and gas decommissioning, and develop student skills to analyse and evaluate the different decommissioning options which face society and oil and gas businesses.

The course takes an interdisciplinary approach to these issues, combining aspects of law, regulation, engineering, commercial and economics.

This course offers an in-depth study of investment decision-making, especially in the energy sector. It combines theoretical frameworks with practical skills to prepare students for the complexities of corporate finance. The course covers four key areas: Time Value of Money, Decision Rules, Financial Analysis Workshops, and Risk Assessment. Graduates will gain a solid understanding of corporate finance, practical investment analysis skills, and essential professional competencies.

Climate change presents one of the most formidable global challenges. This course offers an extensive introduction to the economics of climate change and relevant policy responses which shape societies’ efforts to mitigate the effects of climate change. It explores how the toolkit from economics and finance can be utilised to assess and evaluate carbon management strategies in the realm of climate policy, both from a national and international perspective.

It equips students with the knowledge, skills, and tools to navigate the rapidly evolving climate challenges and contribute to the transition towards a more resilient, inclusive, and sustainable societies, thereby achieving UN’s Sustainable Development Goals (SDGs).

This module adds to traditional notions of energy transition sustainability to include labour markets and health. It investigates how the energy transition will impact labour markets and the public health of developed countries. The module also examines other factors that impact the sustainability of good labour market and public health, such as the environment and technological change.

This module will seek to answer the following questions

1. What is it that Governments are attempting to tax?
2. How should a Government measure the size of the tax base?
3. How should a Government ensure that it collects a fair share of the tax base without distorting a company’s decision to invest?

To answer these questions we will examine the theory of rent, which lies at the heart of petroleum taxation. In addition, we will look at the financial calculations that oil companies make in reaching a decision to explore for and to produce oil. These decisions are rooted in the assessment of risk, the accounting for time, and the calculation of a sufficient return on the investment planned. Finally, we will examine the instruments that governments use to collect a share of rents, and, by employing practical spreadsheet models, that you will build, examine the interplay of these instruments to understand how an effective and efficient fiscal regime can be constructed.

In the face of climate change the energy system is undergoing a structural transition from fossil fuels to more sustainable methods of energy.  This is an unprecedented challenge what is required in terms of cooperation between countries, changes in technologies, and consumer behaviours. 

Learn about the international challenges as the energy system moves from fossil fuels to more sustainable methods of energy sources.  Expand your ability to analyse the key issues important in understanding how the world might make this transition.

Managing resource wealth can impact the economic growth and development of a country for generations. Many countries with large natural resource endowments do not have the institutional structures to exploit the potential of the vast revenues they receive and can suffer as a result, potentially leading to the so-called “resource curse”.  

Learn about the economics and politics of natural resource extraction, the problems that can arise for countries with abundant natural resources, and the ways which governments can better manage this wealth.