Energy, Economics and Finance, MScEcon

Energy, Economics and Finance, MScEcon


The MSc Energy Economics and Finance is a programme both intellectually challenging and provides the career-ready credentials that are essential to increase your appeal with employers within an energy economics context.

Study Information

At a Glance

Learning Mode
On Campus Learning
Degree Qualification
12 months or 24 months
Study Mode
Full Time or Part Time
Start Month

The University of Aberdeen is an established leader in teaching and research in the fields of energy and economics. Our MSc Energy, Economics and Finance builds on the Business School’s considerable strength in these fields. The programme incorporates significant input from the energy industry via active engagement with professional practice, multi-nationals and government agencies. With a recognised world expert in Energy Economics, Professor Alexander Kemp OBE, actively teaching on the programme.

The MSc Energy, Economics and Finance is for anyone keen to understand the energy industry, how decisions are taken, and policies made. It’s designed for energy professionals looking for a recognised path to career progression, or for anyone who wants to begin a successful career in the energy industry.

Our Business School is home to two very relevant and internationally recognised research centres: the Aberdeen Centre for Research in Energy Economics and Finance and the Scottish Experimental Economic Laboratory. Former students have worked with organisations such as the Scottish Government, BP and Total to create their dissertations.

What You'll Study

Stage 1

Compulsory Courses

BU505D Economic Analysis for Energy and the Environment

BU505J Investment and Real Options Analysis for Energy

BU505G Contemporary Issues in Energy Economics

Getting Started at the University of Aberdeen (PD5006)

This course, which is prescribed for all taught postgraduate students, is studied entirely online, takes approximately 5-6 hours to complete and can be taken in one sitting, or spread across a number of weeks.

Topics include orientation overview, equality and diversity, health, safety and cyber security and how to make the most of your time at university in relation to careers and employability.

Successful completion of this course will be recorded on your Enhanced Transcript as ‘Achieved’.

Quantitative Methods (BU5025)

15 Credit Points

This course develops a mathematical and statistical ‘toolbox’ for PGT students in the Business School. These tools will be useful in understanding and implementing research in business- and 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. The final part of the course examines shortcomings in the standard model and describes ways of overcoming those shortcomings.

Stage 2

Compulsory Courses

BU555E Resource Rent and Energy Policy

BU555F Business Strategy and Markets

BU555N Advanced Data Analysis

BU555H Economics of Energy Transition

Stage 3

Compulsory Courses

Dissertation in Petroleum, Energy Economics and Finance (BU5941)

60 Credit Points

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

We will endeavour to make all course options available. However, these may be subject to change - see our Student Terms and Conditions page.

Fee information
Fee category Cost
EU / International students £27,000
Tuition Fees for 2024/25 Academic Year
UK £11,900
Tuition Fees for 2024/25 Academic Year

Fee Information

Additional Fee Information

  • In exceptional circumstances there may be additional fees associated with specialist courses, for example field trips. Any additional fees for a course can be found in our Catalogue of Courses.
  • For more information about tuition fees for this programme, including payment plans and our refund policy, please visit our Tuition Fees page.

Funding Opportunities

The University of Aberdeen provides an Alumni Discount Scheme:

The University of Aberdeen is very pleased to offer a 20% discount on postgraduate tuition fees for all alumni who have graduated with a degree from the University of Aberdeen. More Information can be found here.


Self-funded international students enrolling on postgraduate taught (PGT) programmes will receive one of our Aberdeen Global Scholarships, ranging from £3,000 to £8,000, depending on your domicile country. Learn more about the Aberdeen Global Scholarships here.

To see our full range of scholarships, visit our Funding Database.

How You'll Study

In the first semester of this one-year MSc, you will study key micro and macroeconomic modelling techniques and spend time understanding the critical aspects of financial analysis. You’ll also gain an in-depth understanding of energy and petroleum economics and explore issues such as global warming and renewables in an economic context. In the second semester, the focus is on strategic thinking using game theory to develop your analytical skills and investment decision-making. During summer term, you will complete a dissertation focused on a key topic in the energy industries.

Learning Methods

  • Individual Projects
  • Lectures
  • Research
  • Seminars
  • Tutorials

Assessment Methods

You’ll attend a variety of stimulating lectures, seminars and tutorials, with your skills and competency assessed by a mix of presentations, traditional exams, essays and projects.

Why Study Energy, Economics and Finance?

  • Gain a strong foundation in the disciplined study of economic principles with a deep understanding of the dynamic, constantly evolving energy industry Learn about key micro and macroeconomic modelling techniques and advanced quantitative techniques so you can enter a range of energy sectors and apply theory to practice
  • Access to cutting edge industry calibre information - we are home to two highly-rated relevant research centres – Aberdeen Centre for research in energy economics and Finance (ACREEF) and the Scottish Experimental Economic Laboratory (SEEL) Learn from world leading experts to give you an unrivalled experience                                                             
  • Students will gain an in-depth understanding of energy and petroleum economics and explore issues like the Hotelling model and oil price behaviour, the role of OPEC and the issues of global warming and renewables in an economic context

Entry Requirements


The information below is provided as a guide only and does not guarantee entry to the University of Aberdeen.

The minimum entry requirement for this programme is a degree at 2:2 (upper second class) UK Honours level (or a degree from a non-UK institution which is judged by the University to be of equivalent worth), with a strong background in quantitative methods.

If you have a GMAT score, please provide that information, as this will enhance your application. We may use GMAT as a condition of offer in some cases.

Please enter your country to view country-specific entry requirements.

English Language Requirements

To study for a Postgraduate Taught degree at the University of Aberdeen it is essential that you can speak, understand, read, and write English fluently. The minimum requirements for this degree are as follows:

IELTS Academic:

OVERALL - 6.5 with: Listening - 5.5; Reading - 6.0; Speaking - 5.5; Writing - 6.0


OVERALL - 90 with: Listening - 17; Reading - 21; Speaking - 20; Writing - 21

PTE Academic:

OVERALL - 62 with: Listening - 59; Reading - 59; Speaking - 59; Writing - 59

Cambridge English B2 First, C1 Advanced or C2 Proficiency:

OVERALL - 176 with: Listening - 162; Reading - 169; Speaking - 162; Writing - 169

Read more about specific English Language requirements here.

Document Requirements

You will be required to supply the following documentation with your application as proof you meet the entry requirements of this degree programme. If you have not yet completed your current programme of study, then you can still apply and you can provide your Degree Certificate at a later date.

Degree Transcript
a full transcript showing all the subjects you studied and the marks you have achieved in your degree(s) (original & official English translation)
Personal Statement
a detailed personal statement explaining your motivation for this particular programme

Aberdeen Global Scholarship

Eligible self-funded postgraduate taught (PGT) students will receive the Aberdeen Global Scholarship. Explore our Global Scholarships, including eligibility details, on our dedicated page.

Aberdeen Global Scholarships


If you’re a professional already working in the energy sector, this degree provides a strong route to career progression. You’ll graduate ready to take up roles including:

  • Commercial Analyst
  • Economist
  • Energy and Business Consultant
  • Market Analyst
  • Oil and Gas Associates
  • Project Manager
  • Strategy Analyst

Industry Links

Your tutors include Professor Alex Kemp, OBE. A Professor of Energy Economics, Alex is also Director of the internationally recognised Aberdeen Centre for Research in Energy Economics and Finance (ACREEF).

All your tutors are members of ACREEF, and are active in research and teaching across energy economics. As well as interacting with leading researchers in the field, you’ll benefit from direct input from our significant range of energy industry partners.


The Business School is EQUIS accredited, placing it among a select group of globally recognised institutions. Out of over 15,000 business schools worldwide, only around 200 schools across 45 countries have attained this distinction.

This degree holds accreditation from

Image for useful fact about this Subject

Study Energy With Alex Kemp OBE

World expert Professor Alexander Kemp OBE is actively teaching on this programme, he wrote the Energy Economics 'rulebook'. Think what you could learn from him.

What our Alumni Say

Sermphon Klaiseengern

Sermphon Klaiseengern

Sermphon Klaiseengern

Graduated 2017

I had unlimited opportunities to develop my skills and knowledge through guest lectures from industry, the Energy Institute and the Society of Petroleum Engineers. This meant I received the most up-to-date information and broadened my perspective.

Our Experts

Other Expert
Professor Alexander George Kemp
Programme Leader
Dr Nikolaos Vlassis

Information About Staff Changes

You will be taught by a range of experts including professors, lecturers, teaching fellows and postgraduate tutors. However, these may be subject to change - see our Student Terms and Conditions page.


Aberdeen Centre for Research in Energy Economics and Finance (ACREEF)

ACREEF provides a focus for the identification and implementation of high quality research in the areas of energy economics and finance.

Find out more

Scottish Experimental Economic Laboratory

This state-of-the-art experimental lab has been the focus of academic excellence, and has been used to enhance our understanding of how markets work and how individuals make decisions.

Find out more
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Sir Duncan Rice Library

Sir Duncan Rice Library

The University’s award winning Sir Duncan Rice Library is listed in the “Top 20 spellbinding University libraries in the World”. It contains over a million volumes, more than 300,000 e-books and 21,000 journals.

Find out more

Get in Touch

Contact Details

Business School
University of Aberdeen
MacRobert Building
King Street
AB24 3FX