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BU5062: QUANTITATIVE METHODS FOR ENERGY ECONOMICS (2016-2017)

Last modified: 28 Jun 2018 10:27


Course Overview

This course develops a mathematical and statistical ‘toolbox’ for MSc Petroleum Energy Economics and Finance students. These tools will useful in understanding and implementing research in energy 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. Applications from various energy economic areas are used in order to illustrate the mathematical and statistical concepts.

Course Details

Study Type Postgraduate Level 5
Term First Term Credit Points 15 credits (7.5 ECTS credits)
Campus Old Aberdeen Sustained Study No
Co-ordinators
  • Dr Marc Gronwald

Qualification Prerequisites

None.

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

  • One of MRes Finance (Studied) or MSc (Econ) in Petroleum, Energy Economics and Finance (Studied) or MSc (Econ) in Finance and Investment Management (Studied) or MSc (Econ) in Finance and Investment Management (Includes Cfa Exam) (Studied) or MSc Finance and Real Estate (Includes Cfa Exam) (Studied) or MSc Finance and Real Estate (Studied) or MSc in Accounting and Finance (Studied) or MSc (Econ) in Accounting and Finance (Studied) or MSc Economics of Health (Studied)
  • 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

Postgraduate work in energy economics and finance relies on a grounding in quantitative and empirical methodologies. This course surveys some of the basic methods used to understand the underlying theories and empirical examples and tests found in these fields. Thus students 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. 


Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers


Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1st attempt: 1 two-hour written examination (60%) plus continuous assessment (40%) comprising 30% term time exam and 10% empirical group exercise.

Resit attempt: 1 two-hour written examination (100%).

Formative Assessment

There are no assessments for this course.

Feedback

None.

Course Learning Outcomes

None.

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