Energy Management MSc

www.economics.stir.ac.uk

The MSc in Energy Management develops the knowledge and analytical skills needed to equip students for a successful career in the energy sector, in terms of energy policy analysis, energy management and energy planning. Energy security, energy prices and the environmental impacts of energy supply and use – including links to climate change problems – are key aspects of the global environment at present, and will become more pressing in the future. The programme is aimed at students from a variety of backgrounds (such as business studies, economics, geography and environmental sciences), including students with no previous training in economics or finance.

Programme Objectives

On completing the programme, students should have a good knowledge of how economic analysis can help understand problems related to energy supply and use; be able to analyse alternative energy policy options in terms of benefits and costs; have a good understanding of world energy markets; understand the links between climate change policy and be able to analyse the risks associated with energy options. Students will also have acquired strong analytical skills to structure, analyse and evaluate various energy-related problems.

The programme is offered by the Economics Division. The Division has a longstanding, recognised expertise in teaching, research and practice in this area. Senior personnel from a variety of institutions in the UK and abroad in the energy, financial and international policy sector are invited to give talks to the class.

Entrance Requirements

At least a lower second class Honours degree from a UK university, or an equivalent qualification. The qualification need not be in economics: most subjects are acceptable. Applicants with lower qualifications or special circumstances are also considered if they have relevant work experience.

English Language Requirements

Students are admitted only if their first language is English; or if they have been taught in English at a university or college where English is the main language. For applicants for whom English is not the first language, a minimum standard of English proficiency is required such as IELTS 6 (minimum 5 in each skill) or TOEFL 550/213/79 (Paper/Computer/Internet).

Funding

For information on other possible sources of funding, visit: www.stir.ac.uk/postgrad/finance

Modes of Study

Full-time

Programme Start Date

September

Programme Directors

Dr Frans de Vries

Economics Division

The Economics Division is part of the Stirling Management School.

Structure and Content

You take four taught modules in the Autumn (from September to December) and four more taught modules in the Spring (from February to May). Then you write a dissertation in the Summer (from June to August).

Autumn semester modules:

• Energy and Resource Economics: The main economic theories of the management of non-renewable and renewable resources; valuation of external effects of energy use; alternative ways of modelling energy and resource use; the place of energy and resource use within sustainable development strategies.
  
• Environmental Economics: The application of economic theory and methodologies to the better understanding of environmental problems and improving the design of environmental policy.
  
• Financial Economics: Financial instruments and how they are traded; the key tools used by financial economists; the major topics in financial economics including portfolio theory, diversification and mean variance analysis; asset-pricing models, efficient market hypothesis, and market anomalies; the pricing of bonds, stocks, and other financial instruments.
  
• Quantitative Methods in Finance: The statistical and computing skills necessary to understand fully and perform modern financial analysis.

In the Spring semester you will take the following modules:

• Environmental Finance: An introduction to the field of environmental finance, encompassing all instruments designed to transfer environmental risk
  and to generate environmental quality.
  
• The Economics of Climate Change: The main economic arguments that help explain why human-induced climate change has arisen; estimation of damage costs from climate change; evaluation of climate change mitigation options; problems of international cooperation on climate change policy; distributional implications of climate change and climate change policy.
  
• Energy Markets: The function of the major markets for energy: oil, coal, natural gas, electricity, and alternative/renewable energy in a national and international context; the technological structure and parameters of energy supply and use; the principal drivers of supply and demand for energy; forecasting supply or demand for energy; the environmental issues related to energy use and consumption; the effect on energy markets of national and international environmental policy.

• Energy Management: This will include seminars on research methods, presentations by visiting speakers and a conference at which students will present papers prepared during the semester and which may form the basis of your dissertation.

Dissertation
In the Summer you complete a dissertation on a topic approved by the Programme Director.

Delivery and Assessment

Modules are taught by a combination of lectures and small group teaching, in the form of seminars or computing labs. The quantitative methods module includes teaching in a computing lab. Assessment typically includes assessed coursework and an end of semester examination. Resit examinations are available.

Timetable

Contact the Division for information on your timetable and reading lists.

Career Opportunities

There are excellent employment opportunities in the energy sector and in fi nancial and environmental sectors at national and international level. Potential employers are private companies in the energy supply and distribution sectors, along with the consultancy, insurance, banking, and financial sectors as well as international organisations (e.g. World Bank, OECD, European Union), and governmental bodies related to energy and environment. We plan to offer a new PhD in Environmental and Energy Economics to enable graduates from this programme to pursue their studies at a higher level.

Research Opportunities

We have research interests in the following broad areas – Money, Banking and Finance, Environmental Economics, Work and Wellbeing and Methodology and Economic Thought. Much of this research is collaborative with other disciplines at Stirling and with economists at other Scottish universities through the programmes of the Scottish Institute for Research in Economics (SIRE). A lively research culture is fostered by weekly workshops at which staff and research students present their work, and seminars held by visiting speakers. Working papers are published in the Stirling Economics Discussion Paper series.

For more information on the Division’s research interests, visit: www.economics.stir.ac.uk/research

Research Proposal

Research proposals, focusing on topics which fall into the areas of research expertise of current staff in the School, should include the following: executive summary, importance of the proposed research, prior relevant research and literature review, research questions and
methodology, any limitations or particular requirements for the research.

The specific word limit for Economics research proposals is 1,500 words.

RAE Rating

The UK-wide Research Assessment Exercise (RAE) confirmed the quality of the work being done by our researchers. 85% of the University of Stirling’s research has been judged to be internationally excellent and internationally recognised, with the top 10% of that judged to be world class.

View the full outcomes of Stirling’s RAE performance

Use the online enquiry service to find out more or to request a prospectus.

If you are ready to apply you can fill out an online application form now.