Federica Maiorano studied on the MSc in Shipping, Trade and Finance at Bayes Business School. In this video she talks about her ambition and how she was inspired by world renowned faculty at Bayes and studying in London.
Overview
Who is it for?
You have the equivalent of a UK upper second-class degree, or better, with a solid understanding of quantitative methods (mathematics and statistics). It’s likely that you have a few years’ work experience already, through either an internship or full-time employment. You’ll appreciate the chance to build your professional network with peers from all around the world and business leaders from the global energy, commodity trade, finance and shipping industries.
The experience of studying at Bayes has been a great privilege to me. Foremost, the multi-cultural connections you gather during the one-year set the tone of what London holds to offer. I am now functioning as a Financial Analyst at the solar energy scale-up Solivus.My career objectives have consistently compassed me towards joining a start-up. Here the MSc equips you with a wide range of tools and skillsets highly desired by newly built ventures.
Luca Neil Treskatsch
Objectives
The MSc in Energy, Trade and Finance fully equips you with the skills and knowledge to operate effectively in the highly competitive international energy markets and the commodity trade industry as well as in the wider financial sector.
In this multidisciplinary programme, you’ll gain a solid understanding of energy economics and trading and, in turn, you will learn how to formulate decisions about fossil fuels, electricity and renewables.
Your studies will encompass energy transportation and logistics, especially seaborne. You will also build a strong foundation in finance and financial markets and develop relevant quantitative, software and accounting skills. You will enhance your research, presentation, and teamworking skills by producing a group business plan related to the fields of energy, trade and finance.
You can complement your core studies with specialised elective modules, some of which are delivered by practitioners, or/and, if you wish, you can conduct an independent research project.
The MSc is offered through the world-renowned Costas Grammenos Centre for Shipping, Trade and Finance whose aims are to
- Offer high-quality teaching
- Produce high-quality research
- Support international dialogue between academia, industry and government.
You’ll learn from teaching staff with many years of industry and research experience across the areas of energy, commodity trade, shipping, risk management, and finance.
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Structure
What will you learn
On the Energy, Trade and Finance master’s programme, you will:
- Benefit from the insights and practical expertise of teaching staff with hands-on industry experience and internationally acclaimed research, and guest lecturers working in related fields.
- Study on a unique multidisciplinary programme, acquiring specialised and flexible skills and knowledge in demand by employers across the Energy, Trade and Finance industries.
- Design your third term to meet your career goals, with a wide choice of specialist electives and opportunities for research projects, including with the Bank of England, Department for Transport and Maritime UK.
- Learn on a course that’s accredited by the UK Energy Institute (EI), for which students are offered free membership, and the Global Association of Risk Professionals (GARP).
- Build your connections and experience in the City of London, with links to leading international energy and trading organisations, as well as shipping, finance and banking businesses.
- Become one of the more than 4,200 graduates of The Costas Grammenos Centre for Shipping, Trade and Finance. Graduates of the Centre come from over 160 countries and work in more than 60 countries, holding senior positions at the national and international levels.
- Have the opportunity to join the Energy and Commodities Society. Among its activities are to produce market reports and organise social events with the participation of practitioners.
Induction weeks
The course starts with two compulsory induction weeks which include relevant refresher courses (Introduction to Economics; Quantitative Methods); an introduction to the careers and library services; and the annual careers fair.
Term 1
Accounting for Managers
- 10 credits
- 30 hours, over ten weeks, in lectures
- 70 hours, over ten weeks, self directed study
Introduces the principles of accounting and finance in business and the main techniques in management accounting, planning and control.
Covers the interpretation and use of annual reports and accounts, financial and ratio analysis, and their use for managerial decision-making, and budgetary control systems.
Energy Economics
- 10 credits
- 30 hours, over ten weeks, in lectures
- 70 hours, over ten weeks, self-directed study
This module provides the fundamental knowledge of energy market economics, upon which the rest of the degree is built. It is one of the four cornerstone modules which define the MSc in Energy, Trade and Finance programme.
Oil and Energy Transportation and Logistics
- 10 credits
- 30 hours, over ten weeks, in lectures
- 70 hours, over ten weeks, self directed-study
The aim of the module is to equip you with tools necessary to think skilfully and maturely, but also independently, on matters relating to the transportation aspects of the energy industry.
Industry trade journals and shipbroker reports contain vast information,
Principles of Finance
- 10 credits
- 46 hours, over ten weeks, in lectures
- 54 hours, over ten weeks, self directed study
To cover essential skills and knowledge in finance that will assist you in gaining an in-depth knowledge in the subject area as it is later taught in Corporate Finance.
The aim of this module is to provide an introduction to the area of corporate finance.
This will be achieved through the development of a common vocabulary and a set of tools that will assist students in gaining a basic understanding of what is corporate finance and it will lay the foundations for further study in this area.
Quantitative Methods
- 10 credits
- 36 hours, over ten weeks, in lectures
- 64 hours, over ten weeks, self directed study
Following the induction course, it covers descriptive and inferential statistics, as well as regression analysis techniques. Develops skills that are essential for other modules and the dissertation and is designed to ensure relevance to everyday business problems.
Research Methods and Professional Skills
- 10 credits
- 45 contact hours
- 55 independent learning hours
Strong research is a key element of development strategy for companies and institutions, large and small.
This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course.
You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.
Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.
Term 2
Advanced Quantitative Methods
- 10 credits
- 26 hours, over ten weeks, in lectures
- 74 hours, over ten weeks, self-directed study
Builds on the knowledge acquired in Quantitative Methods in Part one and focuses on skills required for advanced analysis in areas such as risk management and forecasting.
Corporate Finance
- 15 credits
- 30 hours, over ten weeks, in lectures
- 120 hours, over ten weeks, self-directed study
The aim of the course is to develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions.
Financial Markets
- 15 credits
- 30 hours, over ten weeks, in lectures
- 120 hours, over ten weeks, self-directed study
Covers the global economic and financial environment within which business corporations operate. Globalisation and integration of markets for debt, equity and risk management have created new opportunities in the capital formation process, but pose great difficulties in navigating successfully. Where should capital be raised? How does one manage the risks from certain currencies and certain sovereign regions?
In the context of the globalisation of capital markets, considers the structure, functions and performance of financial markets on an international basis and how they facilitate real economic activity; and the role of institutions operating as global intermediaries within these same markets.
Oil and Energy Trading
- 15 credits
- 45 hours, over ten weeks, in lectures
- 105 hours, over ten weeks, self-directed study
This extended module provides the opportunity to focus on issues of particular importance to the specialist field of Energy, Trade & Finance.
Power and Renewable Markets
- 15 credits
- 30 hours, over ten weeks, in lectures
- 120 hours, over ten weeks, self directed study
The module focuses on the value chain of electricity, from its sourcing and generation to its supply, including the economics, pricing, policies and other pertinent issues.
The module aims to place environmental and energy policies in context of the power sector, since governmental targets and the integration of renewable energy sources bring new challenges to these relatively new markets.
Research Methods and Professional Skills
- 10 credits
- 45 contact hours
- 55 independent learning hours
Strong research is a key element of development strategy for companies and institutions, large and small.
This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course.
You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using.
Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.
Term 3
Option 1: Students can take five specialist elective modules (5 x 10 credits) including “Business Analytics for Energy, Shipping, Trade and Finance” (required).
Option 2: Students can opt to write a 10,000-word Business Research Project (40 credits) and take one specialist elective module (1 x 10 credits).
Option 3: Students can opt to write a 5,000-word Applied Research Project (20 credits) and take three specialist elective modules (3 x 10 credits) including “Business Analytics for Energy, Shipping, Trade and Finance” (required).
Electives offered in 2021
Please note that electives are subject to change and availability.
- Ethics, Society and the Finance Sector
- Hedge Funds
- Mergers & Acquisitions
- Technical Analysis and Trading Systems
- VBA with Application for Finance
- Big Data in Commercial Shipping & Trading
- Chartering
- Shipping Risk Management
- Trade Finance.
Business Analytics for Energy, Shipping, Trade and Finance
- 10 Credits
- Compulsory elective for Option 1 and Option 3.
This module introduces the concepts of data science and business analytics in the energy, shipping, trade, and finance sectors. In particular, it teaches you how to work efficiently with commodity, shipping, and financial big data so as to make (big) data-driven business decisions
Commodity Derivatives & Trading
- 10 credits
- Elective for any of the term three options
The aims of this module are to expand the knowledge already acquired in the area of commodities and commodity derivatives and provide you with the analytical and technical skills required in financing and hedging commodities
Energy Project Investment & Finance
- 10 credits
- Elective for any of the term three options
This elective module provides the opportunity for students to focus on issues of particular importance to the specialist field of valuation of energy projects, investment analysis, and financing oil and gas, refining, power generation, transportation and other segment of the energy industry.
Fintech in Shipping and Energy Trade & Finance*
- 10 credits
- Elective for any of the term three options
This module covers the impact of Fintech and its ecosystem at a high-level, with focus in the areas of Shipping, Trade and Finance. The aim is to stimulate and inspire you towards innovation and entrepreneurship.
Introduction to Python
- 10 credits
- Elective for any of the term three options
This module is designed to provide a fundamental understanding of Computer Programming with Python and its applications in Finance, utilizing coding and scripting using Python’s Shell and Integrated development Environment (IDLE).
- Project Finance and Infrastructure Investment (taught in Madrid, Spain)
- Shipping Company Management (taught in Greece)
*The Captain Tasos Politis Prize
Every year, since 2021, the Best Fintech Innovation project is awarded the Captain Tasos Politis Prize, which comes with a £1,000 cash award to the winning group of the FinTech in Shipping and Energy Trade & Finance elective. A shipowner, innovator, serial entrepreneur and Pireaeus patriarch, Captain Tasos Politis was a close friend to Bayes Business School, mentor and sponsor to a number of ambitious students in the UK, Europe and Greece.
International electives
Projects
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations. You are required to submit a project of approximately 10,000 words on any subject area covered in the Energy, Trade and Finance course.
Among the topics of research interest could be: energy finance and economics; commodity risk management; commodity pricing; exhaustible and renewable sources; demand and supply determinants; transportation; commodity and energy trading; green finance.
A typical project can involve any of the following research methods: extracting data from either electronic databases or/and by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business/finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project. You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc studies on the Energy, Trade and Finance programme.
You will undertake a short piece of applied research on a question of academic and/or practical relevance. Among the topics of research interest could be: energy finance and economics; commodity risk management; commodity pricing; exhaustible and renewable sources; demand and supply determinants; transportation; commodity and energy trading; green finance. Based on your chosen topic, you must write a report of around 5,000 words that summarises and critically evaluates your method and findings.
Some of our students are given the opportunity to conduct their research projects (either BRP or ARP) in association with the UK Department for Transport (DfT) or as part of the Masters Programme of Maritime UK or the Research Support Programme of the Bank of England. Upon completion, their findings are presented to senior policy makers and businessmen.
Assessment methods
Assessment
We review all our courses regularly to keep them up-to-date on issues of both theory and practice. To satisfy the requirements of the degree course students must complete:
- Eleven core courses (10-20 credits each) and five electives (10 credits each)
or
- Three electives (10 credits each) and an Applied Research Project (20 credits)
or
- One elective (10 credits) and a Business Research Project (40 credits)
Assessment of modules on the MSc in Energy, Trade and Finance degree, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
Term dates
Term dates 2023/24
- Induction: 11th September 2023 - 22nd September 2023
- Term one: 25th September 2023 - 8th December 2023
- Term one exams: 8th January 2024 - 19th January 2024
- Term two: 22nd January 2024 - 5th April 2024
- Term two exams: 22nd April 2024 - 3rd May 2024
- Term three - international electives: 6th May 2024 - 17th May 2024
- Term three: 20th May 2024 - 5th July 2024
- Term three exams: 8th July 2024 - 19th July 2024
- Resits: 12th August 2024 - 23rd August 2024
- Additional resit week - tests only: 26th August 2024 - 30th August 2024.
Timetables
Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.
Please note that all academic timetables are subject to change.
Teaching staff
Course Director
Academic expert working at Bayes Business School
The teaching staff on the Energy, Trade and Finance MSc programme have many years of teaching and practical experience from the industry and are also active researchers in the related fields.
This knowledge and experience inform the highly interactive lectures that make up this MSc programme.
Module Leaders include:
Application
How to apply
Apply for MSc Energy, Trade and Finance
Documents required for decision-making
- Transcript/interim transcript
- Grading system used by your university
- Current module list if still studying
- CV
- Personal statement - this should be around 500 words in length and answer the following:
- Why have you selected this course? What are your motivating factors?
- What are your areas of interest within the course?
- What contributions do you feel you can make to the course?
- How do you see the course affecting your career plans?
Documents which may follow at a later date
- English language test result if applicable
- Confirmation of professional qualification examinations/exemptions/passes, if applicable
- Two references
- For a successful application to receive an unconditional status, all award documents must be verified, and should be provided to the relevant Admissions Officer via one of the methods stated in your offer.
We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.
Individual Appointments
If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.
Please note - these are subject to availability.
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Chat to one of our current master's students now about applying for a MSc at Bayes.
Terms and conditions
Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.
Entry requirements
- A UK upper second class degree or above, or the equivalent from an overseas institution.
- Some level of previous study in finance or quantitative methods is preferred
- Work experience is not a requirement of this course.
GMAT
- GMAT is not required for application, but may be requested as a condition of offer at the discretion of the Admissions Panel.
Interview
Applicants selected by the Admissions panel will be invited to an online interview with the course director. We will contact all selected applicants with full instructions after the Admissions Panel has made an initial assessment of your application.
We would strongly advise you to provide us with your own personal email address when applying to avoid missing interview deadlines and any important information sent from the Admissions Team.
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.
If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.
Full list of approved English language tests/qualifications and minimum requirements.
Fees
Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study (where applicable).
Application fee: Nil
Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period)
Second installment: Half fees (paid in January following start of course)
Career pathways
Career destinations for MSc Energy, Trade and Finance
Your skills will be of interest to commodity trading houses, oil & gas companies, professional services firms, shipping-related companies and energy and commodity market information providers. You’ll get advice and support, from the beginning of the course but also as you start on your career, from both our specialist careers team and the academics of the Centre, as well as from the industry contacts you make through our societies and events.
Class of 2022 profile
Recent graduates have secured positions such as
- Biofuel Operations Assistant - Petroineos Trading LTD
- Commercial Graduate Associate - S&P Global Commodity Insights
- Corporate & Institutional Climate Solutions - SCB Group
- Gas Trader - Centrica Energy Trading
- Market Risk Analyst - Nomura
- Renewable Natural Gas Sales Trader - STX Group
Alumni stories
Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.
Read Fiona’s storyCourse information and statistics (2022/23 cohort)
Accreditation
This course is accredited by the UK Energy Institute (EI). During the academic year, you have free membership to the EI, receive a free monthly publication and have discounted access to networking events for graduates seeking employment in the energy sector.
The MSc in Energy, Trade and Finance programme is also accredited by the Global Association of Risk Professionals (GARP). GARP is an industry-leading professional association dedicated to preparing individuals and organisations to make better informed risk decisions. The status is granted to top institutions whose degree content incorporates at least 70% of GARP’s Energy Risk Professional (ERP) Body of Knowledge, the first leading and global designation for energy professionals. The academic team works closely with GARP to ensure that our curriculum meets the latest global industry needs.
“We are very pleased to welcome the Business School (formerly Cass), City University of London as a member of GARP’s Partnership for Risk Education. The MSc in Energy, Trade and Finance is a comprehensive, rigorous program that provides its students with strong preparation for pursuing the Energy Risk Professional (ERP) designation as well for a career in the dynamic field of energy risk management.” William May, Global Head of Certifications and Educational Programs – GARP.
*Please note that all accreditations and exemptions are subject to change. Please check if you have specific requirements.
