Who is it for?
Your peers on the Energy, Trade and Finance postgraduate course will be on average, 24, with a minimum 2.1 or equivalent bachelor’s degree. It’s likely you will have a few years’ work experience either through an internship of full-time employment. You needn’t have any prior knowledge of energy, commodities, shipping or finance, although you should be comfortable with quantitative methods (mathematics and statistics).
Objectives
You’ll emerge from the MSc in Energy, Trade and Finance course fully equipped to operate effectively in the highly competitive international energy industry. You’ll gain a solid foundation in energy economics, markets and trading, and you will be able to formulate decisions for fossil fuels, electricity and renewables. Your studies will encompass energy transportation, especially seaborne, and will be rounded off with extensive study of finance and financial markets and essential and highly applicable quantitative, software and accounting skills. You can complement your core studies with elective modules or/and, if you wish, an independent research project.
The MSc in Energy, Trade and Finance is offered through The Costas Grammenos Centre for Shipping, Trade and Finance. The Centre is widely recognised and valued by practitioners and academics.
Since its launch in 1983, its three primary aims remain the same:
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Offer high-quality teaching in its three interlinked disciplines of shipping, trade and finance
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Produce high quality research in these areas
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Create a forum for international dialogue between academia, industry and government and to link decision makers
This multi-disciplinary approach ensures that you are equipped with competitive skills and knowledge in the areas of energy, shipping, commodity trade and risk management, and finance.
Structure
What will you learn
On the Energy, Trade and Finance master’s programme, you will:
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Develop your knowledge and understanding of the economics of exhaustible and renewable energy sources, their key supply and demand determinants, as well as their transportation, trading, pricing and risk aspects.
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Demonstrate a systematic understanding of corporate finance, as well as financial markets, institutions and instruments.
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Understand and critically evaluate current international issues in energy and commodities, finance and trade.
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Formulate decisions in the energy sub-sectors of oil, gas, electricity, involving aspects such as refinery/petrochemical economics, energy transport solutions (pipeline/ship), generation and distribution of electricity, and managing energy risk.
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Analyse factors affecting the energy, finance and commodity trade sectors.
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Enhance your technical and analytical skills by learning applied quantitative techniques and software programmes that are required when working in the fields of energy, commodities, trade, transportation and finance.
Induction weeks
The course starts with two compulsory induction weeks which include relevant refresher courses (among which Quantitative Methods); an introduction to the careers and library services; and the annual careers fair.
Term 1
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Accounting for Managers
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10 credits
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30 hours, over ten weeks, in lectures
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70 hours, over ten weeks, self directed study
Introduces the principles of accounting and finance in business and the main techniques in management accounting, planning and control.
Covers the interpretation and use of annual reports and accounts, financial and ratio analysis, and their use for managerial decision-making, and budgetary control systems.
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Principles of Finance
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10 credits
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46 hours, over ten weeks, in lectures
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54 hours, over ten weeks, self directed study
To cover essential skills and knowledge in finance that will assist you in gaining an in-depth knowledge in the subject area as it is later taught in Corporate Finance.
The aim of this module is to provide an introduction to the area of corporate finance.
This will be achieved through the development of a common vocabulary and a set of tools that will assist students in gaining a basic understanding of what is corporate finance and it will lay the foundations for further study in this area.
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Quantitative Methods
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10 credits
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36 hours, over ten weeks, in lectures
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64 hours, over ten weeks, self directed study
Following the induction course, it covers descriptive and inferential statistics, as well as regression analysis techniques. Develops skills that are essential for other modules and the dissertation and is designed to ensure relevance to everyday business problems.
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Research Methods and Professional Skills
Strong research is a key element of development strategy for companies and institutions, large and small.
This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course.
You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.
Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.
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Energy Economics
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10 credits
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30 hours, over ten weeks, in lectures
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70 hours, over ten weeks, self-directed study
This module provides the fundamental knowledge of energy market economics, upon which the rest of the degree is built. It is one of the four cornerstone modules which define the MSc in Energy, Trade and Finance programme.
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Oil and Energy Transportation and Logistics
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10 credits
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30 hours, over ten weeks, in lectures
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70 hours, over ten weeks, self directed-study
The aim of the module is to equip you with tools necessary to think skilfully and maturely, but also independently, on matters relating to the transportation aspects of the energy industry.
Industry trade journals and shipbroker reports contain vast information,
Term 2
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Advanced Quantitative Methods
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10 credits
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26 hours, over ten weeks, in lectures
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74 hours, over ten weeks, self-directed study
Builds on the knowledge acquired in Quantitative Methods in Part one and focuses on skills required for advanced analysis in areas such as risk management and forecasting.
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Corporate Finance
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15 credits
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30 hours, over ten weeks, in lectures
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120 hours, over ten weeks, self-directed study
The aim of the course is to develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions.
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Financial Markets
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15 credits
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30 hours, over ten weeks, in lectures
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120 hours, over ten weeks, self-directed study
Covers the global economic and financial environment within which business corporations operate. Globalisation and integration of markets for debt, equity and risk management have created new opportunities in the capital formation process, but pose great difficulties in navigating successfully. Where should capital be raised? How does one manage the risks from certain currencies and certain sovereign regions?
In the context of the globalisation of capital markets, considers the structure, functions and performance of financial markets on an international basis and how they facilitate real economic activity; and the role of institutions operating as global intermediaries within these same markets.
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Oil and Energy Trading
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15 credits
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45 hours, over ten weeks, in lectures
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105 hours, over ten weeks, self-directed study
This extended module provides the opportunity to focus on issues of particular importance to the specialist field of Energy, Trade & Finance.
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Power and Renewable Markets
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15 credits
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30 hours, over ten weeks, in lectures
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120 hours, over ten weeks, self directed study
The module focuses on the value chain of electricity, from its sourcing and generation to its supply, including the economics, pricing, policies and other pertinent issues.
The module aims to place environmental and energy policies in context of the power sector, since governmental targets and the integration of renewable energy sources bring new challenges to these relatively new markets.
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Research Methods and Professional Skills
Strong research is a key element of development strategy for companies and institutions, large and small.
This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course.
You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.
Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.
Term 3
Option 1: Students can take five specialist elective modules (5 x 10 credits) including: Business Analytics for Energy, Shipping, Trade and Finance (required).
Option 2: Students can opt to write a 10,000-word Business Research Project (40 credits) and take one specialist elective module (1 x 10 credits).
Option 3: Students can opt to write a 5,000-word Applied Research Project (20 credits) and take three specialist elective modules (3 x 10 credits) including: Business Analytics for Energy, Shipping, Trade and Finance (required).
Electives offered in 2021
Please note that electives are subject to change and availability.
To find more scheduled electives, please see the Energy, Trade and Finance programme specification below.
International elective
Projects
Some of our students are given the opportunity to conduct their research projects (either BRP or ARP) in association with the UK Department for Transport (DfT) or as part of the Masters Programme of Maritime UK or the Research Support Programme of the Bank of England. Upon completion, their findings are presented to senior policy makers and businessmen.
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Ethics, Society and the Finance Sector
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Hedge Funds
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Mergers & Acquisitions
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Technical Analysis and Trading Systems
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VBA with Application for Finance
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Big Data in Commercial Shipping & Trading
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Chartering
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Shipping Risk Management
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Trade Finance.
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Business Analytics for Energy, Shipping, Trade and Finance
This module introduces the concepts of data science and business analytics in the energy, shipping, trade, and finance sectors. In particular, it teaches you how to work efficiently with commodity, shipping, and financial big data so as to make (big) data-driven business decisions
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Commodity Derivatives & Trading
The aims of this module are to expand the knowledge already acquired in the area of commodities and commodity derivatives and provide you with the analytical and technical skills required in financing and hedging commodities
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Energy Project Investment & Finance
This elective module provides the opportunity for students to focus on issues of particular importance to the specialist field of valuation of energy projects, investment analysis, and financing oil and gas, refining, power generation, transportation and other segment of the energy industry.
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Fintech in Shipping and Energy Trade & Finance
This module covers the impact of Fintech and its ecosystem at a high-level, with focus in the areas of Shipping, Trade and Finance. The aim is to stimulate and inspire you towards innovation and entrepreneurship.
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Introduction to Python
This module is designed to provide a fundamental understanding of Computer Programming with Python and its applications in Finance, utilizing coding and scripting using Python’s Shell and Integrated development Environment (IDLE).
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Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations. You are required to submit a project of approximately 10,000 words on any subject area covered in the Energy, Trade and Finance course.
Among the topics of research interest could be: energy finance and economics; commodity risk management; commodity pricing; exhaustible and renewable sources; demand and supply determinants; transportation; commodity and energy trading; green finance.
A typical project can involve any of the following research methods: extracting data from either electronic databases or/and by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business/finance issue in a particular country setting.
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Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project.
You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc studies on the Energy, Trade and Finance programme.
You will undertake a short piece of applied research on a question of academic and/or practical relevance. Guidelines will be provided to help you identify the research question. Based on your chosen topic, you must write a report of around 5,000 words that summarises and critically evaluates your method and findings.
