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MSc in Economics and Policy of Energy and the Environment


We equip graduates to become sustainability leaders and entrepreneurs in business, policy-making and research.

Why choose The Bartlett

We offer:

  • a leading centre for research into energy systems, energy economics, energy and environmental policy and law, as well as behavioural aspects of energy use
  • additional expertise from the UCL Institute for Sustainable Resources on environmental and resource economics, two increasingly important areas
  • the chance to gain in-depth expertise in a number of specific areas of analysis
  • close connections to policy-makers, think tanks, energy plcs and world-leading consultancies

About the course

As an MSc Economics and Policy of Energy and the Environment (EPEE) student, you’ll gain grounding in areas vital to the understanding and analysis of environment-resource-economy interactions.

In an interdisciplinary, collaborative learning environment, you’ll be introduced to:

  • environmental policy and law
  • the economics of the environment and natural resources
  • the issues and challenges of global energy use
  • the field of energy modelling


The MSc in Economics and Policy of Energy and the Environment is a 180 credit course, focussed on the needs of early career researchers. 

The course will employ a range of teaching, learning and assessment methodologies. There will be lectures, interactive seminars and presentations from visiting speakers from a range of businesses and other organisations. Students will also be able to attend the wide-ranging seminar series organised by the UCL Energy Institute and the other Schools contributing to the MSc.

Assessment methods will differ between modules, and will comprise examinations, assessed course work, including hands-on modelling projects, and a 10'000 word dissertation for students to put into detailed practice the methods and techniques about which they have learned in the taught part of the course.

Compulsory modules

BENVGEC1 - Research Concepts and Methods (15 credits)
BENVGEC2 - Environmental and Resource Economics (15 credits)
BENVGEC3 - Modelling, Methods and Scenarios (15 credits)
BENVGEC5 - Evidence, Policy Assessment and Environmental Law (15 credits)
BENVGECD - Planetary Economics and the Political Economy of Energy & Climate Change (15 credits)
BENVGBE8 - Dissertation (60 credits)

Optional modules (choose three)

BENVGEC6 - Advanced Energy-Environment-Economy Modelling (15 credits)
BENVGEC7- UK Energy and Environment Policy and Law (15 credits)
BENVGEC8 - Energy, Technology and Innovation (15 credits)
BENVGEC9 - Energy, People and Behavior (15 credits)
BENVGEOA - Business and Sustainability (15 credits)
BENVGECC - Advanced Environmental Economics (15 credits)
BENVGECB - Econometrics for Energy and the Environment (15 credits)


Compulsory modules

BENVGEC1 - Research Concepts and Methods

This module provides students with the essential skills required to commission and critique research, and become critical consumers of secondary data and models using that data. It also prepares students to develop a clear research question and research design, select appropriate methods and samples and undertake a critical literature review – all essential skills for undertaking their dissertations.

BENVGEC2 - Environmental and Resource Economics

This module covers economic theories in relation to the environment and natural resources. The aim is to provide students with a comprehensive understanding of the role of the environment and resources in the economy, from an economics perspective, and to give them familiarity with the analytic tools and methods, to be built on in subsequent modules, that economists use in their investigations into environmental and natural resource issues.
The module will therefore generate knowledge of:
•    The main theoretical approaches in environmental, ecological and resource economics;
•    Examples, through case studies, of how these approaches have been used in practice;
•    How students can put these approaches into practice themselves.

BENVGEC3 - Modelling, Methods and Scenarios

This course provides a comprehensive overview of the field of energy modelling that is required by modern economy-resource-environment analysts, in whatever area (government, consulting, regulatory etc) that they may be working. Starting from an economics viewpoint, it is explanatory and forensic to enable students to really understand the energy modelling process. Energy-economic modelling is one of the cornerstones of both the public energy policy process and the investment process for private energy firms.
Student will develop an understand of why energy-economic models are used, how input data is collated, how they are combined with scenarios approaches, and how uncertainties are assessed. Students will then develop the faculty to critically analyse the applicability and outputs of energy-economic models of all types. The lectures are ordered to start with key energy sectors, and then broadened to include wider economic and physical interactions.

BENVGEC5 - Evidence, Policy Assessment and Environmental Law

The purpose of environmental policy is to improve the nature and quality of the use of the environment and its resources. In order to know whether or not this has taken place, the environmental outcomes before and after the policy have to be measured; environmental law is necessary for the environmental policy to be implemented; and the effect of the policy has to be assessed before it is put in place (ex ante) and evaluated after it has had time to take effect (ex post).

BENVGECD - Planetary Economics and the Political Economy of Energy & Climate Change 

A new module starting in September 2015, Planetary Economics and the Political Economy of Energy & Climate Change covers international energy issues and challenges, spanning the main energy resources and systems, with emphasis on the interplay of technology, economics and political economy.

The module will explore:

•  Basic structure and trends of global energy use and associated challenges of energy in development, energy access, and environment, together with the global structure of fossil fuel resources and the political economy of international oil and gas markets.
• Heat, electricity and energy efficiency, including the role of non-fossil sources, experience with energy efficiency, and the regulatory dimensions of network-based industries
• Policy instruments and architectures for trying to transform energy systems including the foundations of climate change policy.

The overall aim is to provide interdisciplinary understanding of these topics, including the interplay between national and international energy and climate change policies.

Optional modules

(please note that students will need to take three optional modules.  Enrollment on modules is subject to availability)

BENVGEC6 - Advanced Energy-Environment-Economy Modelling

This is one of the advanced optional modules in the MSc in Economics and Policy of Energy and the Environment. Building from the core module (BENVGEC3) on modelling methods and scenarios, this is a practical hands-on module that will enable students to develop expert skills in the critical use of energy-economic models approaches. Students will obtain pre-defined levels of knowledge and expertise in selected policy relevant energy-economic analytical tools. Students will then be expected to utilise these skills in their MSc thesis topics.

BENVGEC7- UK Energy and Environment Policy and Law

Energy and environment policy have been extensively implemented in the UK, often as a result of international agreements or EU policy, and often in fairly complex policy packages or mixes. While UK policy experience in these areas is unique, there are nevertheless interesting lessons to be drawn in respect of other countries.

BENVGEC8 - Energy, Technology and Innovation 

Transition towards environmentally and energy sustainable paths of economic growth require innovation and diffusion of new technologies that are socially and economically acceptable. This complex process evolves as interaction of technological, economic and social forces operating at various levels. Technology innovations in energy and environment are funded by both public and private efforts and they range from radically new to incremental changes. Their deployment is an outcome of economic as well as social factors where policy plays very big role.  Energy and environmental constraints are major drivers for redirection of technological change away from ‘carbon lock-in’ path. Participation in these processes at either policy or business level requires understanding of the basics of economics of technical change and innovation with special reference to energy and environment.

BENVGEC9 - Energy, People and Behaviour 

This module introduces students to some of the main social science theories used to understand energy related behaviours and lifestyles and how they could be changed. Students critically evaluate and compare these theories and critically evaluate their usefulness for energy technology, modeling approaches, and energy policies and programs.

BENVGE0A - Business and Sustainability

This module is designed to help students develop an in-depth understanding of how sustainability can create value for businesses. It introduces students to the necessary principles to measure, manage, and report corporate sustainability performance in terms of the Triple Bottom Line (TBL). Also, the module analyses the role played by sustainable and responsible investments in the overall performance of businesses, and establishes the link between businesses’ sustainability obligations and financial success factors.
In addition, the module explores the role of sustainability in companies’ risk management efforts, and looks at ways to hedge climate-change related risks. It also explores sustainability accounting, examines how and why sustainability should be reported, and assesses different strategies for sustainability improvement. Finally, this module addresses practical applications of TBL principles to management issues in four different sectors: extractive, energy-intensive, land/water-incentive, and consumer products/demand sectors.

BENVGECC - Advanced Environmental Economics

This module presents an advanced discussion of selected topics in Environmental Economics. Topics include environmental instruments in imperfect markets, instruments choices with particular focus on climate policy, techniques used in environmental evaluation, implication of time and space for environmental instruments and environmental economic instruments in the presence of asymmetric information and related monitoring and enforcing problems.

The course will make use of relatively formal material building on the knowledge acquired by students in the Environmental and Resource Economics module. Each lecture will be complemented by a tutorial or a seminar where students will either deal with a practical application of the techniques learnt in the lectures or have the opportunity to listen to an external speaker.

BENVGECB - Econometrics for Energy and the Environment

This module presents an introduction to the main fields of Econometrics used in the Environmental and Energy Field. Starting from the general regression model and the cases where the assumptions in that model do not hold, progressing to Time Series and Panel Data and other specialist branches of this disciplines used in applied work. The course will make use of relatively formal material but will try to use an easy-to-grasp approach as far as possible. This dual approach will gather students from different backgrounds as well as helping students to understand the mathematical reasoning behind applied concepts. Each lecture will be complemented by a tutorial where students will replicate the approach taken in a number of applied papers. Five additional introductory tutorials will ensure that students are familiar with the programming language used in the course.


Will McDowall, Course Director

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Kate Rice, Programme Administrator
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Current teaching staff:

Paolo Agnolucci
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Gabrial Anandarajah
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Chiara Armeni
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Raimund Bleischwitz
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Paul Ekins
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Michael Grubb
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Ilkka Keppo
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Susana Frazao Pinheiro
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Michelle Shipworth
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2014/15 Intake

The majority of our 70 strong 2014/15 cohort have now completed their studies and have received their MSc degree.

2015/16 Intake

The MSc EPEE is now running for it's third year and proving more popular than ever with a huge number of applications being considered for 2016/17.

We currently have more than 80 UK/EU and International students attending both full time and on a modular/flexible basis. Our students have multidisciplinary backgrounds in a wide range of subjects such as engineering, economics, sociology, environment, history and politics, as well as a variety of different work experiences and previous careers.

MSc Funding and Scholarships

UCL offers a range of financial awards aimed at assisting both prospective and current students with their studies. 

These include:

Andrew Szmidla PG Scholarship £10,000  Deadline: 17 April 2016

UCL Alumni Scholarship  £10,000  Deadline: 17 April 2016

Malcolm Grant PG Scholarship  £25,000 Deadline: 17 April 2016

Santander Master's Scholarship £5,000 Deadline: 17 April 2016

Brown Family Bursary £15,000 Deadline: 08 May 2016

Thomas Witherden Batt Scholarship £10,000  Deadline: 08 May 2016

Greenbank Scholarship  £10,000 Deadline: 08 May 2016

Bartlett Masters Scholarships
£5,000 Deadline: 20 May 2016
Please see further information on the Bartlett website

These opportunities will only be available for students with full time 2016/17 offers.

Please check the UCL Scholarships and Funding pages for further information.

Applying for MSc in EPEE

Course Code: TMSECOSEAE01

Entry requirements

  • Normally a minimum of an upper second-class UK Bachelor’s degree in a relevant discipline (economics, economics-plus, a science or engineering subject) or an overseas qualification of an equivalent standard is required.
  • A non-quantitative degree may, however, be considered provided that some aptitude, e.g. at A level, has been demonstrated for quantitative analysis.
  • These requirements may be relaxed for students who can demonstrate aptitude and experience in business, government, etc.

How to apply

You may choose to apply online or download application materials; for details visit www.ucl.ac.uk/gradapps

Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

Who can apply?

  • Economics graduates and those with a strong minor in economics or business
  • Science and engineering graduates who want to make an interdisciplinary career in this expanding field
  • Those with largely non-quantitative degrees who want to develop their quantitative skills and work in a more policy-related way

What are we looking for?

When we assess your application we would like to learn:

  • how your academic and professional background meets the demands of Economics and Policy of Energy and the Environment
  • why you want to study Economics and Policy of Energy and the Environment at graduate level
  • what particularly attracts you to this programme at the UCL Energy Institute
  • where you would like to go professionally with your degree and how this programme meets these needs

Together with essential academic requirements, the personal statement is your opportunity to illustrate why you are suited to this programme.


Applications are now open for the 2016/17 academic year. 

UK/EU 2016/17: £12,310 (FT)

Overseas 2015/16: £22,180 (FT)


Full details of UCL Scholarship opportunities can be found on the UCL Scholarships website.


The deadlines for a September 2016 start are:

Full Time - 29th July 2016

Modular/Flexible - 2nd September 2016

Any other questions?  Take a look at our frequently asked questions.