International Business, Energy and Petroleum – (M.Sc.)

Contents

The programme is based on core modules in the first and second semester plus one option course in the second semester plus a dissertation.
First Semester
Business Economics - this course introduces students to fundamental concepts in economics, and examine ways in which these may be applied to solve real business problems. The course focuses mainly on those aspects of economics vital to a student of business, such as the market mechanism, international competition policy and the business implications of resource allocation, inflation, economic growth, economic policy, international trade, economic integration and exchange rates.
Introduction to Energy & Petroleum Economics - a first course using the principles from economics and finance to examine key issues in the petroleum and energy industries. Issues examined will include an up-to-date assessment of upstream petroleum economics including the world petroleum market and the role of OPEC, introductory economic analysis of global warming, the potential roles of government and implications for energy markets.
Quantitative Methods - An introduction to statistics and quantitative methods used in economics and finance, where the focus is on the intuitive development of basic quantitative tools. This will enable students to analyse appropriate models, undertake empirical analyses of economic and financial data and provide students with practical computer-based skills.
Accounting - An introduction to Accounting, which enables students to develop technical skills and an understanding of financial statement analysis. Students are also introduced to the relationship between the theory and practice of accounting and contemporary issues in financial accounting. The course offers an appreciation of: the use and control of financial and accounting information; the basic assumptions and conventions applied to financial accounting; the analysis of business transactions and preparation of financial statements; technical accounting skills; financial statement analysis; financial performance and company valuation; issues in accounting practice, governance and standards.
Introduction to Corporate Finance - This course provides the opportunity to develop appropriate analytical skills in order to understand corporate finance theory and the implications of corporate financing decisions. The course offers knowledge and understanding of: the theoretical underpinnings of corporate finance theory; corporate financing problems; financing choices and their interaction with financial markets; and develops communication, problem-solving and time management skills through the study and practice of corporate finance.
Second Semester (Core Modules)
Business Strategy - The course studies the economic and business concepts that form the foundation for strategic business thinking by industrial policy analysts, entrepreneurs, and corporate managers. This course will equip students with an analysis of how the firm is organised, operates, and manages its strategic interfaces and interactions to generate and maintain a competitive advantage. This course will provide a systematic approach to strategic thinking (game theory) and use its concepts to help students understand how businesses interact strategically and develop principles for such interaction.
Real Options and Decision Making - This course will deepen and broaden students´ understanding and develop their analytical skills concerning investment decisions under uncertainty. It will introduce students to methods of analysis of the benefits and costs of investment decisions and provide an appreciation of how these methods may be useful to decision makers in the petroleum industry as well as decision makers in other corporate or government settings who must assess investment opportunities under uncertainty.
Issues in Energy & Petroleum Economics - This module will further develop the student´s analytical skills allowing them to examine key issues in energy and petroleum sectors. This course will examine in detail a number of selected issues central to understanding energy and petroleum economics which may include: Petroleum Policies, Economic rents and their collection of to the state, Licensing and other policy issues, Modelling prospects for an oil province, Economics of Decommissioning, Economics of Auctions, Economics of liability, Renewable Energy and Bio-fuels, Modelling Energy Demand, Markets for Tradable Emissions Permits, Non-Market Valuation.
Plus one course chosen from the following three options
Human Resource Economics - This course explores the economic approach to analysing incentives in human resource situations, allowing students are able to see how such incentives work in real situations, and to enable them to use the theoretical ideas to suggest human resource strategies relevant for businesses. A range of situations will be considered from the structuring of team working, individually negotiated packages, promotion procedures and their effect within organisations.
Empirical Methods In Finance - Provides an introduction to empirical issues surrounding the analysis of financial data and to some of the main empirical methods used in the study and practice of finance in order to analyse the time path and volatiltiy of asset prices.
Portfolio Analysis And Management - Knowledge and understanding of the predictions of modern finance theory and the evaluation and analyses of actual and potential investments through portfolio analysis techniques. The aim is to develop students capacity to interpret and use financial information in an environment where the decision-making process revolves around how investors make choices between risky assets.
Final Stage
Dissertation - Candidates write on a topic suggested by staff and drawn from areas studied in the programme.