Energy Economics and Law (LLM)
Introduction
This unique Masters programme combines the core disciplines of Economics and Law to equip you with the essential skills required to pursue a successful career such as in the global oil and gas industry, legal, financial or in related governmental organisations.
This unique Master’s programme at the 51cg offers a distinctive blend of economics and legal studies, tailored for those aiming to excel in the global oil and gas industry, legal sectors, financial institutions, or related governmental bodies.
This programme delves into the complexities of the energy sector, influenced by factors such as government-regulated hydrocarbons, financial markets, global oil dynamics, economic uncertainties, licensing, taxation, and contractual agreements. A thorough understanding of these elements is crucial for informed investment decisions and effective policy-making. Through this programme, students acquire practical knowledge to enhance their career prospects in legal and financial contexts within the oil and gas industry.鈥�
The 51cg stands as a global leader in energy and law education, consistently achieving top rankings in these fields. The institution hosts two internationally acclaimed research centres: the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF) and the Aberdeen University Centre for Energy Law (AUCEL).
Students benefit from direct engagement with leading researchers, including Professor Alex Kemp OBE, a globally recognised energy expert, and from a broad network of national and multinational employers through the university's visiting speaker programme.鈥�
Available Programmes of Study
- LLM
-
Energy Economics and Law
- Qualification
- LLM
- Duration
- 12 months or 24 months
- Learning Mode
- On Campus Learning
- Study Mode
- Full Time or Part Time
- Start Month
- September
- Location
- Aberdeen
Programme Fees
- UK
-
- Tuition Fees for 2026/27 Academic Year
- 拢12,200
- Tuition Fees for 2026/27 Academic Year (51cg Graduates *)
- 拢7,000
-
51cg graduates are eligible for the Alumni Postgraduate Scholarship, reducing tuition fees to £7,000 - matching the current SAAS tuition loan - See full terms and conditions
- EU / International students
-
- Tuition Fees for 2026/27 Academic Year
- 拢26,250
- Tuition Fees for 2026/27 Academic Year (Self-funded Students *)
- 拢18,250
-
The above fee includes the £8,000 Aberdeen Global Scholarship provided to self-funded international students. Full terms and conditions apply.
Semester 1
Semester 1: Compulsory Courses
- Critical Legal Thinking and Scholarship (LS501T)
-
This course provides students from diverse legal and educational backgrounds with a common understanding of the core research, analytical, and writing skills which will be required for LLM-Taught courses. The course is delivered as a series of five interactive lectures with two individual assessments designed to encourage critical thinking and provide opportunities for early feedback. It also incorporates a library workshop to provide students with hands-on experience with the resources available for course and dissertation work.
- Getting Started at the 51cg (PD5006)
-
This course, which is prescribed for all taught postgraduate students, is studied entirely online, takes approximately 2-3 hours to complete and can be taken in one sitting, or spread across the first 4 weeks of term.
Topics include University orientation overview, equality & diversity, MySkills, health, safety and cyber security, and academic integrity.
Successful completion of this course will be recorded on your Transcript as ‘Achieved’.
- Contemporary Issues in Energy Economics (BU505G)
-
15 Credit Points
Embark on an in-depth exploration of the economic foundations shaping contemporary challenges within the energy sector. Develop a deep understanding of the challenges and opportunities inherent in sustainable resource management, sustainable development, and energy consumption. Investigate the energy ‘trilemma’, gaining insights into the roles of public and private entities. Develop the knowledge and analytical skills to meaningfully contribute to shaping the future of the energy sector.
- Investment and Real Options Analysis for Energy (BU505J)
-
15 Credit Points
This course provides a comprehensive journey into the intricacies of financial decision-making. By blending theory with practical applications, you will develop the skills and insights needed to navigate the ever-evolving landscape of the energy industry. This course blends theory and hands-on Excel modelling to analyse investment choices in the energy sector. Empower your employability by developing practical skills and in depth understanding on financial choices under risk and uncertainty.
- State Control of Hydrocarbons (LS501E)
-
30 Credit Points
With only limited exceptions hydrocarbons lie in the ownership or control of states but are frequently explored for and produced by commercial actors. This course considers the means by which the state controls exploitation of its oil and gas reserves. Following a number of introductory online lectures, students will participate in interactive seminars considering topics such as: from energy security to energy trilemma; national oil companies; licensing and production sharing agreements; resource curse and transparency; health, safety and environmental regulation; and decommissioning. This course is available to students registering for the LLM Oil and Gas Law programmes (Dissertation or Professional Skills).
Semester 1: Optional Courses
Resource Rent and Energy Policy
Semester 2
Semester 2: Compulsory Courses
- Contract Law Aspects of Oil and Gas Exploration (LS554P)
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30 Credit Points
A good knowledge and understanding of the commercial purpose and key features of the principal contracts used in the oil and gas industry is essential for an oil and gas lawyer. This course will examine the contracts entered into between involved in the exploration for and production of oil and gas. These include and the investment contracts entered into between the oil companies themselves in the form of Joint Operating Agreements, and those between oil and gas companies operators and the contractors making up the service and supply chain. The course will be taught by means of a mix of lectures, seminars and interactive workshops.
- Economics of Energy Transition (BU555H)
-
15 Credit Points
Focusing on sustainability and innovation, this course offers a comprehensive understanding of economic aspects shaping the transition to cleaner energy sources. Uncover the essence of market failure within the energy sector, dissect the economic implications of environmental policies and scrutinise strategies for an inclusive transformation of the energy sector. Delve into the economic dynamics of electricity markets, evaluating the impact of energy transition on pricing and market structures.
- Resource Rent and Energy Policy (BU555E)
-
15 Credit Points
This course discusses the world petroleum market in the context of overall energy markets. The main features of the evolving petroleum market are analysed including examination of the Hotelling model and Hubbert curve. Oil price determination is discussed with detailed consideration of the special characteristics of the demand and supply curves in the industry. The role of OPEC in the market is examined, including discussion of the various models of OPEC behaviour and the determinants of its market power. The economics of climate change and the place of renewable energy in the wider energy market is discussed.
Semester 3
Semester 3: Compulsory Courses
- Master of Laws Dissertation (LS5904)
-
60 Credit Points
Between February and mid-August students prepare a 10,000 word dissertation on a topic of their choice related to their specialist LLM programme. Students are instructed through the delivery of three preparatory lectures, three supervisory meetings and two dissertation writing seminars. Students are expected to spend considerable time on independent research throughout the course of the dissertation module, including; preparation of a dissertation plan, amendment of plan in accordance with supervisory comments, and, of course, the final 10,000-word dissertation itself.
- Qualification
- LLM
- Duration
- 12 months or 24 months
- Learning Mode
- On Campus Learning
- Study Mode
- Full Time or Part Time
- Start Month
- January
- Location
- Aberdeen
Programme Fees
- UK
-
- Tuition Fees for 2026/27 Academic Year
- 拢12,200
- Tuition Fees for 2026/27 Academic Year (51cg Graduates *)
- 拢7,000
-
51cg graduates are eligible for the Alumni Postgraduate Scholarship, reducing tuition fees to £7,000 - matching the current SAAS tuition loan - See full terms and conditions
- EU / International students
-
- Tuition Fees for 2026/27 Academic Year
- 拢26,250
- Tuition Fees for 2026/27 Academic Year (Self-funded Students *)
- 拢18,250
-
The above fee includes the £8,000 Aberdeen Global Scholarship provided to self-funded international students. Full terms and conditions apply.
We will endeavour to make all course options available. However, these may be subject to change - see our Student Terms and Conditions page. In exceptional circumstances there may be additional fees associated with specialist courses, for example field trips.
Funding Opportunities
Alumni Discount Scheme - we are pleased to offer a 20% discount for postgraduate tuition fees to all alumni who have an undergraduate degree from 51cg.
Please note that the Aberdeen Alumni Discount cannot be claimed in conjunction with any other scholarship award.
Scholarships
All eligible self-funded international Postgraduate Masters students will receive an 拢8,000 scholarship. Learn more about this Aberdeen Global Scholarship here.
To see our full range of scholarships, visit our Funding Database.
How You'll Study
You will have the opportunity to explore a range of themes to sharpen your critical analysis of key current global challenges and issues. These include Licensing and Upstream Taxation; Investment Appraisal Techniques and Risk Analysis; Health, Safety and Environmental Regulation; Crude Oil Market; Principles of Accounting; and Oil and Gas Contracts. You will take part in a broad range of stimulating lectures, seminars and tutorials with both lecturers and visiting industry practitioners.
Learning Methods
- Field Trips
- Group Projects
- Individual Projects
- Lectures
- Research
- Seminars
- Tutorials
Assessment Methods
Assessment is by course work, written examination or through a combination of those, as prescribed for each module.
Why Study Energy Economics and Law?
- The Business School is accredited, placing it among a select group of globally recognised institutions. Out of over 15,000 business schools worldwide, only around 200 schools across 45 countries have attained this distinction.
- The 51cg is ranked 18th in the UK (Guardian University Guide 2026) and ranked 1st in the UK for Student Positivity in Business Studies (National Student Survey 2025).
- We are ranked in the Top 10 for Energy Law programmes (LLM Guide 2025) and in the Top 15 Law Schools in the UK (Guardian University Guide 2026).
- Over 90.4% of our Law graduates are in employment or further study 15 months after graduation. (Graduate Outcomes Survey 2026)
- We are ranked 3rd in Scotland for Law in the Complete University Guide 2027
- As Europe's Energy Capital, Aberdeen offers unparalleled networking opportunities. The University hosts the Aberdeen Centre for Research in Energy Economics and Finance (ACREEF) and the Aberdeen University Centre for Energy Law (AUCEL), providing students access to leading academics, industry reports, and policy insights.
- Our LLM Advisory Board includes individuals from industry, government, research centres, international organisations and leading research centres in Europe. With direct input from these key players and other guest lecturers from international academic and policy-making institutions, our programme stays relevant in a rapidly changing world.
This intellectually challenging programme will equip you with the intellectual, critical and practical skills fundamental to a successful career in areas such as oil and gas. You will engage directly with professional practice, multi-nationals and government agencies. You will:
- Acquire the global perspectives essential to professional success
- Develop critical insights into current and emerging approaches
- Gain a well-rounded skillset with the tools to succeed in the energy sector
- Obtain insights into commercially oriented analysis
- Strengthen your capacity for social, geographical and cultural mobility
Interested in this programme?
What Our Students Say
Entry Requirements
Qualifications
The information below is provided as a guide only and does not guarantee entry to the 51cg.
A 2.2 honours degree (or equivalent) in Law will be required to be accepted onto this programme.
Document Requirements
You will be required to supply the following documentation with your application as proof you meet the entry requirements of this degree programme. If you have not yet completed your current programme of study, then you can still apply and you can provide your Degree Certificate at a later date.
- Degree Transcript
- a full transcript showing all the subjects you studied and the marks you have achieved in your degree(s) (original & official English translation)
- Personal Statement
- a detailed personal statement explaining your motivation for this particular programme
Careers
Career opportunities range from positions within oil and gas companies, international law firms or government ministries. Past graduates have gone on to be Commercial Advisers, Energy Consultants, Investment Analysts, Market Analysts, and Oil and Gas Associates. Others have gone on to complete a PhD, or to pursue careers in politics, business or international finance.
Career Opportunities
- Commercial Adviser
- Energy and Business Consultant
- Environmental Consultant
- Investment Analyst
- Market Analyst
- Oil and Gas Associates
- Project Manager
Industry Links
Our LLM Advisory Board includes individuals from industry, government, research centres, international organisations and leading research centres in Europe. With direct input from these key players and other guest lecturers from international academic and policy-making institutions, our programme stays relevant in a rapidly changing world. Many courses are taught by practitioners and leading industry experts so you will benefit from practical real life insights into the industry.
Accreditation
The Business School is accredited, placing it among a select group of globally recognised institutions. Out of over 15,000 business schools worldwide, under 300 schools across 45 countries have attained this distinction.
Our Experts
You will be taught by and have access to a number of experts, many of whom are internationally renowned within their respective fields. These will include members of AUCEL and Aberdeen Centre for Research in Energy Economics and Finance.
- Programme Leader
- Dr Hossein Radmard
- Other Experts
- Professor John Paterson
- Professor Alexander George Kemp
Information 51cg Staff Changes
You will be taught by a range of experts including professors, lecturers, teaching fellows and postgraduate tutors. However, these may be subject to change - see our Student Terms and Conditions page.
Features
The 51cg, established in 1495, is Scotland’s third oldest and the UK’s fifth oldest University. The university’s ancient campus reflects its long-standing academic tradition, with historic buildings such as King's College, which dates back to the 15th century. This blend of ancient architecture and modern facilities creates a unique atmosphere where students can experience the best of both tradition and innovation.
Get in Touch
Contact Details
- Address
-
Business School
51cg
MacRobert Building
King Street
Aberdeen
AB24 3FX