This MSc develops the knowledge and analytical skills needed to equip students for a successful career in the energy sector; whether this be in energy policy analysis, energy trading or 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. This course is aimed at students from a variety of backgrounds, including students with no previous training in economics or finance.
On completing the course, you should have a good knowledge of how economic analysis can help understand problems related to energy; be able to analyse alternative energy policy options in terms of benefits and costs; have a good understanding of world energy markets; and be able to analyse the risks associated with energy options. You will have acquired the skills needed to structure, analyse and evaluate energy-related problems.
A minimum of a second class honours degree (2.1 preferred) or equivalent. Applicants without these formal qualifications but with significant appropriate/relevant work/life experience are encouraged to apply.
English language requirements
If English is not your first language, you must provide evidence of your proficiency such as a minimum IELTS score of 6.0 (5.5 in all bands).
If you don’t meet the required score you may be able to register for one of our pre-sessional English courses. To register you must hold a conditional offer for your course and have an IELTS score 0.5 or 1.0 below the required standard.
Our range of pre-sessional courses.
Modes of study
Full-time and part-time study available
Course start date
Structure and content
Preparing and supporting students through their postgraduate studies
September 2014 will see the introduction of an intensive and invigorating period of ‘learning to learn’ for Stirling Management School’s postgraduate students. Activities, workshops and information sessions held during this period will help students better prepare for the year ahead in order to ensure that they make the most of their time at Stirling. Students will be provided with an opportunity to develop the necessary skills required to ensure that they can interact and engage with others and fully explore the subjects and themes covered by their course.
Providing students with the very best start to their studies, these activities will support students to:
- discover more about the exciting period of learning ahead;
- develop an understanding of the course expectations;
- get to know the teaching team and support staff;
- learn more about a diverse range of approaches to learning;
- understand what it takes to work as part of a successful team;
- develop presentation skills and build confidence in public speaking;
- learn about cultural and individual differences;
- discover all that the University campus and the vibrant city of Stirling has to offer;
- maximise their time studying at Stirling;
- have fun and make new friends.
By the end of this period, students will be fully prepared to embark upon the formal teaching course invigorated and committed to the journey ahead with newly developed skills.
You take four taught modules in the autumn from September to December and four more taught modules in the spring from January to May. Then you write a dissertation in the summer, from June to August.
Semester 1 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.
- Environmental Valuation and Methods: This module will cover the conceptual and theoretical underpinnings for environmental valuation, the methods for valuing non-market goods, and applications of quantitative methods and valuation techniques in the design policy.
Semester 2 modules:
- 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 and Policy: 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; 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.
- Seminar on Energy Management: This will include presentations by visiting speakers from the UK energy industry, regulatory authorities and NGOs. The students will learn how to write and present policy briefs.
You will also take one of the optional modules chosen from:
- Financial Modelling and Forecasting: This provides students with the theory and practice of econometric modelling of financial decisions and markets. Students will learn most recent tools required to model non-stationary time series and compute forecasts from financial econometric models.
- Environmental Costs of Energy Production
- Dissertation: In the summer you complete a dissertation on a topic approved by the Course Director.
View full module descriptions
Delivery and assessment
Modules are taught by a combination of lectures and small group teaching, in the form of seminars or computing labs. Assessment typically includes coursework, presentations and an end-of-semester examination. Re-sit examinations are available.
Topics of student’s interest in journals such as Energy Policy, The Energy Journal, Energy Economics and others.
- Energy and Resource Economics
- Environmental Economics
- Financial Economics
- Environmental Valuation and Methods
- The Economics of Climate Change
- Energy Markets and Policy
- Seminar on Energy Management
- Financial modelling and forecasting
- Environmental Costs of Energy Production
Dr Danny Campbell
In the most recent Research Assessment Exercise (RAE), 15 percent of research in Economics at Stirling was rated as ‘World-leading’ and a further 45 percent as ‘Internationally Excellent’.
The Economics department is ranked in the top 10% of Energy Economic Institutions in the world by RePec.
As part of the MSc Energy Management students take part in an Industry Simulation Exercise. This Simulation Exercise provides MSc Energy Management students with a forum to listen to, and learn from senior managers from a leading energy company as they offer an insight into their own experiences in the workplace.
The Simulation Exercise is based around a ‘Performance Management’ scenario that allows students to work on a typical industry problem. It is designed to simulate a real life industry specific challenge that businesses face in their working environment. As part of the exercise students are required to undertake an individual and group task to review business performance of a power station and make recommendations to take the business forward.
The Business Simulation in conjunction with Daniel Emerson Process Management was a very important experience. It helped us both to identify with the role of an external advisor and develop recommendations for a specific business situation, but also to practice group work and presentation skills within an Assessment Centre. I particularly enjoyed perceiving the fast learning progress within our group and also seeing the different approaches and solutions from the other teams.
Jan Zacharias, MSc Energy Management, 2011
MSc Energy Management and MSc Environmental Economics students recently visited AC Gold Energy, a locally-based energy renewable showroom to learn more about the micro-renewable business from their managing director, Mr Alasdair Campbell.
AC Gold Energy design and install MCS approved, renewable energy efficient heating and electric generation systems. As well as domestic installations, AC Gold Energy also work with the commercial electrical and engineering sector, with clients who require the highest levels of accreditation and safety certification.
Students learned how solar PV and biomass boilers work, what features customers are generally looking for, and how the changes in government policy alter the renewable business. Mr Campbell provided his insights into the key factors that shape the renewable business in Scotland and answered student questions.
This visit is an example of one of the many visits that students experience as part of the course and provides students with the skills and knowledge they will need to meet the challenges of this exciting sector.
The visit was extremely fascinating and informative. It was intriguing to be able to view in person, some of the different types of renewable energy technologies and innovations that we have studied in class. We learned not only about different types of renewable energy systems available to residential and commercial customers, but also the considerations that help determine which system is best for a particular application. I particularly enjoyed Mr Campbell and his team spending a generous amount of time at the end of our visit to answer the many questions we had. I feel that our program is very fortunate to have such an interesting facility located here in Stirling.
Ryan Holmes, MSc Energy Management, 2012
This program provides a chance to simulate the real business happening. Combining the knowledge we learn with the real business skill to train how to deal with the special problems for a firm in the first time and develop quick reaction capability. It is useful for us to get preparation for work we will do when we finish the course and also the experience will give good personal behaviour for future employment.
Xin Qi, MSc Energy Management, 2011
When I was confronted with the decision to study Energy Management at the University of Stirling, many questions were going through my head. Will it be hard to study in a foreign language? Will there be benefits for my professional life? How will it be to live abroad?
After graduating from a German University (in Energy and Resource Management B.A) and working for several German energy companies, Stirling University seemed to me a reasonable way to gain further academic knowledge about the energy industry. Furthermore, It was obvious for me that it would be an interesting and useful experience to study abroad.
It didn’t take long to understand that it was the right decision to study Energy Management M.Sc. at Stirling University. Surrounded by competent teachers who always found time to promote the students personally, I was able to gain a deeper understanding of several academic fields related to the energy industry.
The composition of students in our course was probably the most international I have ever seen. Students from Africa, Europe, Asia and America were represented and created all together an amazing atmosphere where everyone had the chance gain an enormous amount of intercultural skills.
These new knowledge and skills I have gained during my time in Stirling turned out to be very useful for my professional life. After graduating in 2011, I’ve started to work directly for an innovative German energy company (Energy2market GmbH) which develops and operates the first virtual power plant that provides system services (secondary control reserve) to the German transmission system operator. In the position as a portfolio manager I am in charge of the renewable energy portfolio, which is the centerpiece of the virtual power plant. It seems to be just the beginning of an interesting career.
The decision to study Energy Management in Stirling was not an easy one, but it turned out to be one of the best decisions in my life. Of course you can think about studying in New York, Berlin or London, but if you consider to start a successful energy career… I’ll recommend Stirling. “
Albert Mantel, MSc Energy Management, 2011
The MSc Energy Management opens up a range of employment opportunities in the energy sector at the national and international level. Some example placements for alumni of this course are:
- Renewable Market Analyst - Natural Power
- Evaluations Officer - International Atomic Energy Agency (UN)
- Business Analyst - Oil and Gas UK
- Head Economist - Zero Waste Scotland
- Director of Economic Affairs - Mining Association of Canada
- Market Analyst - Coal Marketing Company
- Head of Natural Gas Markets - Gen-I
- Funded PhD studentship - University College London Energy Institute
- Energy Analyst - International Energy Agency (OECD)
- Renewable Development Officer - Ullapool Community Trust
You should expect to pay fees for every year you are in attendance and be aware fees are subject to revision and may increase annually. Students on programmes of study of more than one year should take this into account when applying.
Stirling Management School Postgraduate Scholarships
Stirling Management School is committed to investing in academically talented students, enabling them to further their education with a reputable qualification from one of the many Postgraduate Degree Programmes on offer at the University of Stirling. There are various categories of funding available to support the cost of your studies at Stirling Management School.
For further information on possible sources of funding, visit: http://www.stir.ac.uk/postgraduate/financial-information/