Course - Petroleum Economics - TPG5110
Petroleum Economics
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About the course
Course content
Oil price model; An introduction to the economic theory of exhaustible resources. Capital budgeting techniques and decision analysis: The main methods of evaluation of investment projects - including the effects of taxes and price variations, cost of capital and the main principles in economic risk analysis.
Learning outcome
Knowledge:
Students should have a basic understanding of the principal economic framework for the petroleum sector. This includes financial reporting, capital budgeting, risk, markets and macroeconomics.
Skills:
Students should know how to evaluate projects by using net present value, risk models and optimization techniques and to use market models.
General competence:
Students should have a general theoretical understanding of economics in order to work towards profitable strategic goals for oil companies, government agencies and petroleum related companies.
Learning methods and activities
Lectures and exercises. If there is a re-sit examination, the examination form may be changed from written to oral. Lectures are held in English and the examination papers will be given in English only. Students are free to choose Norwegian or English for written assessments.
Compulsory assignments
- Exercises
Recommended previous knowledge
None.
Course materials
Detailed information will be given at the beginning of the course.
Credit reductions
| Course code | Reduction | From |
|---|---|---|
| MSG4140 | 7.5 sp |
Subject areas
- Managerial Economics, Finance and Operations Research
- Business Econimics and Management
- Industrial Economics
- Investment and Cost Analyses
- Operations Research
- Petroleum Geosciences
- Petroleum Engineering