Skip to Content


Last modified: 28 Jun 2018 10:27

Course Overview

This course will build on the skills introduced in the first semester Quantitative Methods and develop skills in applying a variety of empirical methods taught across the programme to issues in energy.

Course Details

Study Type Postgraduate Level 5
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
  • Professor Euan Phimister

Qualification Prerequisites


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

  • One of MRes Applied Economics (Studied) or MSc Applied Economics (Studied) or MSc (Econ) in Petroleum, Energy Economics and Finance (Studied)
  • Any Postgraduate Programme (Studied)

What other courses must be taken with this course?


What courses cannot be taken with this course?

  • BU5565 Empirical Methods in Finance Research (Studied)

Are there a limited number of places available?


Course Description

This course will consider the application of a range of empirical methods. For each method, any required background to the method will be discussed, and the practical application of the technique to a case introduced. Applications may include: 1. Applying Investment Appraisal Methods: Developing a Spreadhseet Model, Sensitivity Analysis, Monte Carlo Simulation 2. Modelling Retail-Wholesale Price Margins in Energy Markets: The Impact of Market Structure; Econometric analysis of Retail-Wholesale Data 3. Modelling Energy Demand; Theory and Model specification; Econometric Issues 4. Modelling the Economics of a Fuel Mandate; Formulating a simple model of the market; Counter-factual analysis 5. Industry Analysis; Structure, Performance, Conduct; Testing the evidence

Degree Programmes for which this Course is Prescribed

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

Contact Teaching Time

114 hours

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

Teaching Breakdown


1 two-hour written examination (60%); continuous assessment (40%).

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

Formative Assessment




Compatibility Mode

We have detected that you are have compatibility mode enabled or are using an old version of Internet Explorer. You either need to switch off compatibility mode for this site or upgrade your browser.