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

Last modified: 16 Nov 2016 18:13


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
Session First Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus Old Aberdeen Sustained Study No
Co-ordinators
  • Dr Marc Gronwald

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. 

Degree Programmes for which this Course is Prescribed

  • MSc (Econ) in Petroleum, Energy Economics and Finance

Contact Teaching Time

43 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

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

None.

Feedback

None.

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