Postgraduate Economics 2026-2027

This course focuses on the economics of business allowing students to understand the economics that underlie a whole host of business issues. The course will cover the functioning of markets, consumer behaviour, pricing, production and costing problems, monopoly and the business implications of inflation, economic growth and economic policy.

The course will cover the main elements of Microeconomic Theory together with how this underpins the macro economy, covering consumer theory, how consumers choose under constraint of a budget, to generate demands. How this theory can be used to consider the welfare effects of price changes will be considered. The problem of production will be examined to understand the supply, and the demand and supply side will be drawn together to consider market structure.  How the theory can be used to identify market supplies and demands  from empirical data will be examined.

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 course explores the intricate relationship between the economy and the environment, focusing on how economic activities impact the environment, and how environmental policies can be developed to address environmental issues. Students will learn the fundamental principles of economics as they apply to environmental issues, integrating both theoretical concepts and practical applications to address contemporary environmental challenges.

This course discusses the world petroleum market in the context of overall energy markets.  The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve.  Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry.  The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power.  The economics of climate change and the place of renewable energy in the wider energy market is discussed.

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.

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.

This compulsory element of the Masters degree in Energy Economics & Finance is the final stage of the degree programme.

The dissertation is the final element of the programme and compulsory to all students in the MSc (Econ) Sustainability Economics and Finance. The dissertation provides an opportunity for a sustained period of independent study and research. It can take wo forms, including (i) an academic based dissertation, or (ii) an applied dissertation or practice-based ‘consultancy project’. Either type of dissertation seeks to develop the same learning outcomes and follow the same assessment criteria.

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.

Dissertation project for MSc Energy Economics & Law