Postgraduate Course: Energy Finance (CMSE11153)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Available to all students |
| SCQF Credits | 15 |
ECTS Credits | 7.5 |
| Summary | The course aims to integrate conventional finance with energy finance, and to provide a basis for understanding the links between these and carbon finance. The Course Organiser will draw on both theoretical and applied concepts and will be taught by experienced practitioners, with knowledge of structured and energy finance. In addition to introducing the students to the wider literature on energy finance, Dr Kretzschmar's publications and case studies will be used to ensure that students will come away from the course with specific skills in the evaluation of risks and opportunities associated with energy finance. |
| Course description |
Intensive 'Introduction to Finance Theory' (9x 2-hour seminars) in Week 1.
Energy-specific lectures commence in week 2.
One-day field trip to power plants in Edinburgh area.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | For Business School PG students only, or by special permission of the School. Please contact the course secretary. |
Information for Visiting Students
| Pre-requisites | None |
Course Delivery Information
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| Academic year 2014/15, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
150
(
Lecture Hours 20,
Seminar/Tutorial Hours 20,
Supervised Practical/Workshop/Studio Hours 8,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
97 )
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| Assessment (Further Info) |
Written Exam
60 %,
Coursework
40 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
The course is assessed by coursework worth 40% of the total mark. Of this 40%, 20% is a group mark for a group presentation and 20% is a group mark for group coursework. The end-of-semester examination counts for 60%. |
| Feedback |
Not entered |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S1 (December) | Energy Finance | 2:00 | |
Learning Outcomes
INTENDED LEARNING OUTCOMES
After completing this course, students should be able to:
o Understand the nature of energy markets, and capital markets as sources of finance
o Understand the investment decision frameworks for new energy projects, and have an appreciation for how investment risks may change over time
o Appreciate the relationship between conventional project and corporate finance and energy project finance
o Understand how commodities are commercialised in markets
o Appreciate the risks associated with commodities, and the implications for financing projects
Cognitive Skills
After completing this course, students should be able to:
o Critically evaluate press coverage of energy finance issues
o Think analytically about the financial and strategic implications of energy investments for business
o Conceptualise key strategic considerations associated with energy finance projects
o Cooperate with others from different professional, educational and cultural backgrounds to produce group analysis and present the results of group work
Career and Subject-Specific Skills
After completing this course, students should be able to:
o Understand new developments in commodity markets, and evaluate the implications for businesses involved in financing projects
o Develop an understanding of how conventional financing products can be applied to raise finance for energy projects
o Be able to evaluate project risks and opportunities in specific terms. Students graduating from this course will be better prepared to work in financial analysis, valuation, and trading positions with major oil and gas exploration, production, and distribution companies (such as BP, Shell, ConocoPhillips), energy trading firms, power companies (such as Cinergy, and Duke Energy), as well as developing the skills needed by leading investment banking and financial services firms in the energy industry (e.g. Wood Mackenzie, Goldman Sachs)
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Reading List
ESSENTIAL READING
Higgins, R.C., 2009, Analysis for Financial Management, 9th Edition
GARP, 2009, Foundations of Energy Risk Management
James, T., 2009, Energy Markets: Price Risk Management and Trading
Savage, S.L., 2003, Decision Making with Insight
De Mello, Cases in Finance, 2nd Edition - these will be handed out in the lecture
RECOMMENDED READING
Academic paper references will be made in the lecture notes, these will be primarily Energy Policy and Energy Economics papers.
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Keywords | EF |
Contacts
| Course organiser | Dr Xi Liang
Tel: (0131 6)51 5328
Email: Xi.Liang@ed.ac.uk |
Course secretary | Miss Malgorzata Litwinska
Tel: (0131 6)51 3028
Email: Maggie.Litwinska@ed.ac.uk |
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