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B.Sc./Diploma in Petroleum Economics and Policy


The programme is intended to provide a good understanding of microeconomics, macroeconomic and empirical studies focusing on economic and policy issues affecting the oil industry and their host countries.

The programme will give candidates solid foundation in international oil and gas, natural resources and environmental economics, the overall principles of energy policy and management. Those whose objective is to work in the economic policy area, both in developed and developing countries, will find the programme particularly beneficial.

Entry Requirements

Certificate and Diploma Level Qualification

A level

Required subjects

GCSE English Language and Mathematics at grade C or above (or equivalent).

English language requirements

Non-native speakers of English will normally be required to have IELTS 4.5 or above.

Other suitable qualifications

We accept a wide range of other qualifications from applicants. We welcome applications from mature students, students interested in direct entry to the second year.

Career Prospects

  • Policy makers and their adviser in both developed and developing countries;
  • Policy makers in countries endowed with oil and other natural resources;
  • Leaders in the oil and gas industry;
  • Lecturers and senior lecturers in the department of economics of various universities and colleges of both developed and developing countries;
  • Managers in the oil and gas industry and those wishing to work in that sector;
  • Microeconomics, macroeconomics, mathematics and engineering students;
  • Senior government officials in charge of energy policy.

 Course Structure

Candidates have to complete all TEN core units and the Integrative Assessment and EITHER a macro model of an oil exporter or Economic Rent. The qualification is made up of a total of 260 or 240 guided learning hours depending on which topic option you choose.


  Year 1
  Basic conditions for Petroleum Economics
  Petroleum Supply and Demand
  Key players and Structure
  Analysis of Profitability and Risk
  Year 2
  Economic Benefits and Impacts
  Petroleum Export Boom and the Real
  Exchange Rate: the money – inflation link
  Petroleum Sector and structural Change
  Year 3
  Policy implication and control
  Energy Crises: Perception and Reality
  The Future of the World Petroleum Industry
  Integrative Assessment
  And either
  A macro model of an oil exporter - Using one country as an example

Economic Rent


The qualification is a progression point for anyone wishing to work or consult in policy-making in the petroleum and energy sector both in the developed and developing countries. Candidates will learn how to mitigate the effect of any new found natural resource on the overall structure of the economy.