Foundation degrees

Course Information

Economics, Accounting and Finance for the Energy Sector

Module summary

Module code: ECON1148
Level: 7
Credits: 15
School: Engineering and Science
Department: Applied Engineering and Mgt.
Module Coordinator(s): Georgios Kiourktsoglou


Pre and co requisites



The aims of this course are to develop the student’s knowledge and critical understanding relating to the broad economic concepts and current issues of the energy sectors, the structure and nature of the energy sector industry and the accounting and financial considerations associated with it. In particular the module investigates the macro and micro-economics concepts, including supply and demand for gas, oil, coal, power and renewables, pricing and the characteristics of the diverse participants in this industry. The accounting & finance section reviews elements of both financial and management accounting, the basic financial principles and techniques used to evaluate project viability and examines the various sources of funds available with the risks and rewards attached.

Learning outcomes

On successful completion of this course a student will be able to:
Learning Outcome

1 Critically reflect and apply economic theory and concepts relating to the energy sector, including the impact of supply and demand, pricing, forecasting and the global energy challenges.

2 Critically reflect on the regulations, governance and ethics of the energy sector, energy security and competition from renewable sector.

3 Apply theory in practices relating to accounting and finance for the energy sector, including critical understanding of corporate accounts and the evaluation and sources of funding for energy investment projects.

Indicative content

1. Energy Economics
 Energy Demand Analysis and Forecasting
 Energy Demand Management
 Economics of Supply of Oil, Gas and Coal. Economics of Electricity Supply
 Energy Markets and Pricing with emphasis on Oil and Gas
 Global Energy Challenges

2. The Oil and Gas Industries
 Regulation and Governance of the Energy Sector
 Energy Sector and impact on the Environment

 Environmental Protection Impact of Energy Prices Energy Security Renewable Energy Sector

3. Accounting & Finance for the Energy Sector
 Introduction to Financial Accounting
 The Accounting Equation and the Basic Accounting Concepts
 The Balance Sheet and the Profit & Loss Account Introduction to Management Accounting Principles of Finance / The ‘time value of money’ Discounting Techniques
 Equity / Debt Finance Financial Markets Hedging Financial Risk
 Economic analysis of energy investments
 Introduction to Corporate Finance

Teaching and learning activity

Teaching is by formal lectures, tutorials and seminar discussion. Special guest lectures and industry visits as appropriate.


Methods of SUMMATIVE Assessment:Essay.
Outcome(s) assessed by summative assessment:1-3.
Weighting % 60%
Pass Mark 40%
50% overall
Word Length 3,000
Outline Details :Essay consisting of three case study based reflection - on Energy Economics; Oil and Gas Sector Analysis; and Accounting & Finance Practices in the Energy Sector

Methods of SUMMATIVE Assessment: Exam
Outcome(s) assessed by summative assessment:All.
Weighting % 40%
Pass Mark 50%
50% overall
Word Length n/a
Outline Details : Closed Exam.

Are students required to pass all components in order to pass the course? Yes.