MSc Economics & Policy of Energy & Climate Change

This course replaces MSc Global Energy Management from September 2021.

Key facts

  • Start date: September
  • Accreditation: triple-accredited business school AACSB, EQUIS & AMBA
  • Study mode and duration: 12 months full-time; 24 months part-time
  • Ranked: 4th in UK for Economics (The Guardian Best UK Universities 2021)

Study with us

  • develop a strong understanding of key issues in environment and energy from policy and economic perspectives
  • gain practical insight from leading energy and climate change experts
  • benefit from applied teaching, which focuses on the development of transferable skills and applicable knowledge
  • careers opportunities can range across the huge scope of applications that energy and climate change have in business
  • suitable for those with a background in a broad range of disciplines

How could the Covid-19 pandemic affect my studies?

Covid-19: information & FAQs
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Why this course

The MSc Economics & Policy of Energy & Climate Change aims to produce future leaders in the sectors of energy and climate change. 

The course addresses the complex and increasingly more extreme challenges and uncertainties that industries, economies, governments and societies face. By the end of the programme, you'll be well equipped to understand these, and have the knowledge to adapt to this changing context. 

You'll learn about the rapid changes within the global energy system and about the way in which this is impacted by climate change and by the efforts to mitigate its impacts. These changes include escalating energy demand, constraints on supplies, impacts on energy mix, introduction of smart grids, fluctuating energy prices, regulatory pressures to reduce carbon emissions and to promote sustainability, increased integration of renewable energy sources, and changing demographics and patterns of energy use and supply. 

The course offers excellent opportunities to network with energy and climate change specialists from a broad range of organisations. We've designed the course to maximise the opportunities for industry engagement. You'll also have the opportunity to take part in events organised by the Scottish Energy Forum.

The course covers areas of particular strengths of the Department of Economics, with a focus on energy and climate change. Through the Fraser of Allander Institute, the department also boasts research expertise in applying economic knowledge in the policy field.

Exterior of Strathclyde Business School with students walking past

THE Awards 2019: UK University of the Year Winner

What you'll study

Core classes are designed around the latest academic research on the issues facing energy and climate change economists and policy experts today. You'll also have the opportunity to pursue your own interests through a variety of elective classes.

You'll receive comprehensive analytical training and gain in-depth real-world knowledge of energy systems and climate changes issues. Hands-on training in issues related to energy economics, energy finance, energy industries, energy technologies, energy policy, the environment, sustainability, natural resources, climate change, data analysis, economic appraisal and economic modelling will help give you an unrivalled edge in the job market.

Summer project

The summer project will be an extensive and substantial piece of economic and/or policy analysis, and aims to develop those applied research skills that are so important to the energy and climate change professional. You'll work on a desk-based research project, which will be related to the rest of your studies on the course. The summer project will be supported by an academic supervisor.

Guest lectures

The course will regularly bring leading energy and climate change experts from the industry, research, and policy fields to deliver talks as part of the core classes.

Field trips

The course includes field trips to destinations that are relevant to the content of your studies. These are intended to help you know more about the industry and to help conceptualise your knowledge.

Strathclyde Business School

Strathclyde Business School was founded in 1948 and is a pioneering, internationally renowned academic organisation with a reputation for research excellence.

One of four faculties forming the University of Strathclyde, SBS is a triple-accredited business school (AACSB, EQUIS and AMBA) and was the first business school in Scotland to achieve this accolade in 2004. The Business School is home to seven subject departments and a number of specialist centres, all of which collaborate to provide a dynamic, fully-rounded and varied programme of specialist and cross-disciplinary courses.

Strathclyde Business Network

As a postgraduate student at Strathclyde Business School, you may choose to join the Strathclyde Business Network, a student-led initiative that facilitates interaction with business and industry leaders.

The Network aims to foster knowledge sharing, facilitate discussion and enable networking opportunities with the very best business professional in industry. Every year the Network organises Glasgow Business Summit, which is the first-ever student-led business conference in Scotland and brings together students with leading businesses from across the UK.

Triple-accredited business school

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Course content

Semester 1

Economic Appraisal and Modelling

Economic appraisal and modelling lie at the heart of what most economists in business, consulting and government do on a day-to-day basis. You'll examine the key principles and techniques of economic appraisal and learn – through your own applications - how these are used in private and/or social analysis. Techniques covered will include cost-benefit analysis, cost-effectiveness analysis and multi-criteria analysis. The economic modelling component will provide you with insights into how models designed to describe the operation of any economy can be used to help inform decision making. You’ll drawing on the practical modelling expertise gained within the Fraser of Allander Institute which has – for over forty years – developed an international reputation in the development and use of economic modelling for analysing policy-relevant issues.

Economic Data Analysis

This class teaches quantitative methods with a practical emphasis. You'll gain an understanding of aspects of econometric theory and of fundamental econometrics tools that are routinely used in the analysis of economic data.

You'll apply the methods you learn about to a variety of models and data sets used in Economics and Finance.

The class will cover the following estimation techniques:

  • Descriptive Statistics
  • Linear Regression Models
  • Heteroscedasticity
  • Unit Roots and Cointegration

Each topic will be introduced in lectures and consolidated through practical applications in lab sessions. In this way, students will gain practical experience in analysing data. On completion of the class you should be in a position to motivate and conduct your own empirical work, and you'll have the opportunity to demonstrate this in your Summer Projects.

Energy Economics

In this class you'll explore key economic issues at the heart of topical energy questions – building on the University’s outstanding reputation as a centre of excellence in energy technology and policy.

The class covers the objectives of energy policy; private and social perspectives on energy supply and demand; the special case of regulation of energy markets; the use of economic models in energy analysis; the economics of oil and gas activity and links between energy use and the energy sector and an economy.

Natural Resources, Sustainability and Governance

This class provides you with a comprehensive overview of natural resources, sustainable consumption and the sustainable development goals (SDGs) through consideration of such topics as:

  • where natural resources are located
  • how they are used and what are the key challenges facing consumption
  • what policies are in place to protect natural resources globally
  • how environmental change and degradation may impact natural resources
  • how conflicts can occur over natural resources and the steps we can take to remediate this
Energy Finance and Forecasting

This class provides students with a comprehensive and analytical overview of the energy finance system. This is done through consideration of such topics as:

  • Corporate Finance
  • Cost of Capital
  • Energy Investment Appraisal
  • Portfolio construction
  • Energy Forecasting
  • Energy Modelling

The class will provide the necessary foundational knowledge for studying other core classes in the course, and MSc EPECC students will get the opportunity to learn how the Finance function operates and how energy firms forecast and model energy prices.

Energy Technologies, Impacts and Implementation

This class considers the economic, societal and policy context surrounding the adoption and deployment of energy technologies. This class will cover the characteristics and impacts associated with a broad range of technologies that span the energy supply chain and demand side of the energy industry, including both fossil fuel, low carbon and supporting technologies. It also explores their fit to particular circumstances, as well as the common steps and challenges associated with implementing these energy technologies. Finally, this class also explores the innovation processes that deliver novel, commercially viable technologies, as well as how technologies influence wider energy system transitions.

Semester 2

Environmental Economics

A growing, and increasingly important, part of the work of many applied Economists includes the economic analysis of environmental issues. Additionally, many professionals working in the fields of energy, the natural environment, or business more generally will find that their careers require some working knowledge of economic approaches to environmental problems. The main objective of this class is to provide a thorough grounding in the economics of the environment, with a particular focus on environmental protection in an international policy context, such as climate change the loss of biological diversity.

Climate Change Economics

Climate change will be the pre-eminent global political and economic issue of the 21st century. This class is intended to provide students with an overview of the basic model underlying the economics of climate change and the economic approach to climate change policy. It then goes on to describe the complications that need to be considered beyond this basic model in order to think about climate change policy in the real world.

Energy Industries and Markets

You'll examine the structures and trends in global energy markets. Demand and supply of the various types of energy such as coal, oil, natural gas, nuclear and renewables is covered along with a discussion of electricity markets. Topics of relevance for the energy professional, such as the interaction between energy and the environment (including carbon markets) and energy futures and options markets are discussed.

Global Energy Policy and Politics

Governance of energy systems is as much a technological, financial, and economic challenge as it is a political one. This class focuses on this latter aspect of the politics and political economy of global energy policy. Its central aim is to develop a good understanding of how political systems and institutions shape energy policy and governance outcomes.

The class is grounded in political science and political economy models and equips students with analytical tools to:

  1. rigorously assess variation in energy policies around the world
  2. analyse these policies
  3. understand the drivers of differences in policies
  4. formulate actionable policy recommendations

Drawing on examples and data from the developed and developing world, the class strikes a balance between academic and policy debates and between different approaches to student learning and engagement, including, for instance, scenario analysis, group work, or role play.

Summer Project

The summer project will be an extensive and substantial piece of economic and/or policy analysis, and aims to develop those applied research skills that are so important to the energy and climate change professional. You'll work on a desk-based research project, which will be related to the rest of your studies on the course. The summer project will be supported by an academic supervisor. You'll be assessed on your ability to select and apply relevant theory and research methods. Final projects are submitted in August, which will complete your degree requirements.

You can choose two from the list below. These classes are offered by the Department of Economics.

Games of Strategy

In this class you will study decision making in strategic scenarios where the outcome of a decision depends not only on your decision but also the decisions made by others. This is a key class for those considering careers in industry where competition is crucial and effective market strategies are vital to the success of the business. You will learn how to make effective decisions in such environments and to gain an advantage over your competitors.

Fundamentals of Microeconomics

This class will introduce you to some key concepts and principles of economics, focusing particularly on consumer theory and the theory of the firm. You’ll be shown how these concepts and theories are applied to the analysis of a range of contemporary real world issues.

Fundamentals of Macroeconomics

You’ll learn about key macroeconomic variables and how changes in GDP, unemployment and inflation can impact on day-to-day policy and business decisions. You'll also study objectives and challenges in the design of macroeconomic policies by central banks and government’s finance departments and gain an understanding of how policies impact on the macroeconomic environment.

Topics in Public Economics

This class builds on the knowledge acquired in Foundations of Business Economics to explore the role of government and public policy in the economy. You will learn about why governments often intervene in the economy when markets do not operate as planned, and gain an understanding of the trade-offs faced when intervening. You will also learn about how public utilities operate and why and how they are regulated.

International Macroeconomics

This course will enable you to understand global trends and to study the key drivers of international economics, including how exchange rates move; what determines flows of international investment; and why some countries grow more quickly than others.  With the global economy becoming ever more integrated, understanding of these issues is important for the applied Economist working within business, consulting and policy.

International Development

This class will introduce policy relevant issues and knowledge in the economics of development. Lectures will combine insights from theoretical economic models with policy-relevant empirical evidence on in low-income countries. Moreover, through the thorough analysis of empirical research, the class will assist students in developing skills required to make an effective contribution working as an applied economist.

Health Economic Policy

This class provides you with an introduction to health economic policy, a key area for their potential future careers. The purpose of this course is to develop your ability to use economic concepts and theories to analyse existing issues in the health care market and to inform decision making and policy development. The class will provide you with an overview of policy issues from both an academic and practitioner perspective. The class will also focus both on technical skills that are needed to do research in the area of health economics, as well as on policy implications and discussions. Due to its focus on policy evaluation, the course will provide a supporting function for you to proceed to the Summer Project study.

Economics of Inequality and Inclusive Growth

Understanding what drives inequalities in economic outcomes is a key aspect of modern economic thinking. Many of the drivers of such inequalities are cross-cutting, covering a range of economic issues from changes in economic policy through to the overall macroeconomic environment and the changing nature of our modern labour market. This class is designed to

  1. raise the awareness of the different roles for economic analysis in the formulation of effective policies aimed at tackling inequality and reducing poverty
  2. develop policy-relevant understanding of current issues inclusive growth enabling students to effectively contribute as an applied economist
Regional Development Policy

This class will give you an understanding of regional policy issues from an academic and practitioner perspective. It's designed to give you awareness of technical and practical issues in regional policy development in Europe and to develop the skills required to work in the development, implementation and evaluation of regional policies.

You can also choose elective classes from a wide range of options offered by:

  • Strathclyde Business School
  • Faculty of Engineering
  • Faculty of Humanities & Social Sciences
  • Faculty of Science

Learning & teaching

Core and elective classes will be taught across two semesters running from September to December, and January to March. Classes will be taught through a combination of lectures, tutorials, interactive project presentation sessions (group and individual ones) and seminar talks by external speakers. The summer projects are undertaken between May and August.

Assessment

Classes will be assessed during semester 1 and 2 using combinations of class tests, written assignments, presentations and participation in class activities. Exams will take place at the end of each semester in December and April/May.

What our students think

Complete University Guide League Tables 2021 - Top 10 for Economics.

We're ranked 8th in the UK for Economics.

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Entry requirements

Academic requirements

Minimum second-class honours degree or overseas equivalent in any subject (see our country pages for further information).

Applications are welcome from candidates with significant high-calibre industry or government experience.

English language requirements

Students whose first language is not English must have a minimum of 6.5 IELTS score, with no individual score lower than 5.5. Get more information about the English language requirements for studying at Strathclyde.

Financial Times European Business Schools Rankings logo 2020
Financial Times European Business Schools Rankings logo 2020
The Times / The Sunday Times Good University Guide 2021. University of the Year shortlisted.
The Times / The Sunday Times Good University Guide 2021. University of the Year shortlisted.
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Fees & funding

All fees quoted are for full-time courses and per academic year unless stated otherwise.

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Scotland

£11,250

England, Wales & Northern Ireland

£11,250

International

£20,150

Available scholarships

Take a look at our scholarships search for funding opportunities.

Please note: the fees shown are annual and may be subject to an increase each year. Find out more about fees.

How can I fund my course?

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Scottish postgraduate students

Scottish postgraduate students may be able to apply for support from the Student Awards Agency Scotland (SAAS). The support is in the form of a tuition fee loan and for eligible students, a living cost loan. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

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Students coming from England

Students ordinarily resident in England may be to apply for postgraduate support from Student Finance England. The support is a loan of up to £10,280 which can be used for both tuition fees and living costs. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

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Students coming from Wales

Students ordinarily resident in Wales may be to apply for postgraduate support from Student Finance Wales. The support is a loan of up to £10,280 which can be used for both tuition fees and living costs. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

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Students coming from Northern Ireland

Postgraduate students who are ordinarily resident in Northern Ireland may be able to apply for support from Student Finance Northern Ireland. The support is a tuition fee loan of up to £5,500. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

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International students

We've a large range of scholarships available to help you fund your studies. Check our scholarship search for more help with fees and funding.

Glasgow is Scotland's biggest & most cosmopolitan city

Our campus is based in the very heart of Glasgow, Scotland's largest city. National Geographic named Glasgow as one of its 'Best of the World' destinations, while Rough Guide readers have voted Glasgow the world’s friendliest city! And Time Out named Glasgow in the top ten best cities in the world - we couldn't agree more!

We're in the city centre, next to the Merchant City, both of which are great locations for sightseeing, shopping and socialising alongside your studies.

Find out what some of our students think about studying in Glasgow!

Find out all about life in Glasgow
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Careers

Energy is the largest and most critical industry in the global economy today, and climate change is a significant driver of change in the energy sector. Employers are seeking out skilled graduates to work in the energy industry and in the fields of climate change, environment and sustainability. As a graduate of the MSc Economics & Policy of Energy & Climate Change, you'll be well placed to manage the complex challenges facing the energy and the environmental sectors in the 21st century.

Graduate roles

Some of the recent graduates of MSc Global Energy Management (which is being replaced by MSc Economics & Policy of Energy & Climate Change) have been employed in the following roles:

  • Senior Engineer | Scottish Power
  • Energy Consultant | Schneider Electric
  • Energy Economics Consultant | ARUP
  • Senior Economist | OFGEM
  • Project Manager | Energy and Environment, United Nations Development Programme
  • Business Analyst | Sgurr Energy
  • Energy Analyst | Atlantic Super Connection
  • Intraday Power Trader | Centrica
  • Energy Markets Analyst | Wood Mackenzie
  • Energy Portfolio Management | Mytilineos S.A.
  • Research Associate in Marine Energy | Edinburgh City Council
  • Senior Consultant | ERM (Environmental Resources Management)
  • Senior Analyst | EDF Energy
  • Project Leader | Nigerian National Petroleum Corporation
  • Chief Executive Officer | Georgian International Energy Corporation
  • Asset Management and Trading | Iberdrola
  • Wealth Management Associate | Morgan Stanley
  • Assistant Solar Project Engineer | Solsist Energia, Brazil
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Apply

Economics and Policy of Energy and Climate Change

Qualification: MSc
Start Date: Sep 2021
Mode of Attendance: full-time

Economics and Policy of Energy and Climate Change

Qualification: MSc
Start Date: Sep 2021
Mode of Attendance: part-time

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Contact us

SBS Postgraduate Admissions

Telephone: +44 (0)141 553 6105 / +44 (0)141 553 6116

Email: sbs.admissions@strath.ac.uk

Strathclyde Business School, University of Strathclyde
199 Cathedral Street
Glasgow
G4 0QU