Key information

Mode of delivery
Delivery type
Full-time, Part-time
Start date
1 year


Contact our enquiries team

Contact us


MSc Energy and Economics is an innovative, new degree programme grounded in the cutting-edge, industry recognised, economic research carried out by Heriot-Watt University on behalf of the energy sector.

MSc Energy and Economics is an innovative, new degree programme grounded in the cutting-edge, globally recognised, economic research carried out by Heriot-Watt University on behalf of the energy sector.

This programme provides a detailed overview of current energy issues, teaching you to apply core tools of economic analysis to the conversion and use of energy resource.

You will develop a bespoke set of skills that will enable you to effectively measure and interpret the environmental and socio-economic impacts of the energy sector. You will also learn how to effectively analyse, appraise and design energy policy, systems and equipment from an economic perspective. You will gain highly-employable specialist knowledge that is crucial within the energy industry.

This Energy and Economics Master's Degree will prepare you for a dynamic career as an energy consultant, or for a graduate job in energy economics across: business, government regulation and environmental NGOs.

The dual-focused programme is ideally suited to graduates with an engineering or strong analytical background in subjects such as mechanical engineering, mathematics or economics.

It has been developed with numerous distinctive features which will aid your success in future roles:

Industry links

The Economics department at Heriot-Watt has close links to industry-leading organisations such as the World Bank and British Petroleum (BP). You will have access to a number of key industry figures such as Spencer Dale (Chief Economist at BP) who delivers guest economics lectures at Heriot-Watt.

Experts in energy economics

Economists and academics with expertise in the fields of energy, the environment and developing economies will lead your learning. They bring extensive real world experience to the programme from their work with business and global policy makers.

Each year our researchers and academics work closely with BP preparing data for their annual BP Statistical Review of World Energy. This is a highly regarded document used by energy experts, industry leaders, academics and journalists all around the world.


This specialist programme allows you to shape your learning to best meet the needs of your personal career-development. It is intentionally flexible. You will complete two mandatory courses and choose six further options from a suite of over 20 specialist energy and economics courses.

Topping the rankings for Economics 

National Student Survey 2018: Highest level of satisfaction with teaching in Scotland

Guardian University Guide 2018: 1st in Scotland and 3rd in the UK

It is widely considered that Heriot-Watt University offers some of the best Economics degrees in Scotland and the UK.

The student experience at Heriot-Watt is no-doubt boosted by the unique setting of our campus. Immersed in the Scottish countryside, our student experience offers the best of both worlds thanks to its location just outside the UK's second largest financial hub: Edinburgh, which was recently voted the 'best city in the UK to live' for the third year running (National Newspaper Poll: The Telegraph).

Our excellent reputation for Economics is primarily the result of our dedication to fine-tuning the details of our programmes.

Our programmes are underpinned by the latest research from our three dedicated research centres for Economics. For example, much of the course content on our Energy and Economics MSc is directly informed by the research carried out by Heriot-Watt's Centre for Energy Economics Research and Policy (CEERP). This ensures that MSc Energy and Economics maintains its position as a cutting-edge, industry-focused Master's degree.

CEERP has been established in partnership between Heriot-Watt University and BP PLC to provide research support to BP and to conduct long-term research into energy economics and markets.

We are at the forefront of innovation among UK universities when it comes to the promotion and communication of energy research activities. This is thanks to our Energy Academy, a virtual learning centre used to connect all energy related research across the university. This gives our Postgraduate students direct access to the latest research carried out across Heriot-Watt University's three dedicated energy research centres which study: Energy Generation, Conversion and Storage; Intermittency of Supply, Storage and Control; and Energy Policy and Strategy.

September 2024 entry

The deadline for applications from UK students is 30 August 2024. For EU and overseas applicants, we guarantee to consider applications submitted by 2 August 2024.

Course content

Year 1

Core courses:

  • Foundations of Energy
  • Environmental and Energy Economics

Students will also complete a masters dissertation: an individual research project led by a research active member of economics staff on a current research theme. 

Optional courses:

  • Electrical Power Systems
  • High Voltage
  • Sustainable Processing
  • Process Intensification
  • Renewable Energy Technologies
  • CFD and Heat Transfer
  • Demand Management and Energy Storage
  • Heat Transfer and Heat Exchangers
  • Strategic Project Management
  • Financial Analysis
  • Quality Management and Engineering
  • Project Management
  • Systems Things and Analysis
  • Emerging Financial Markets
  • Energy Systems and Buildings
  • Development Economics 
  • Ventilation and Air Conditioning
  • Research Methods
  • Critical Analysis and Research Project Planning

Go Global

Some of our Postgraduate Taught Masters Programmes are eligible for Inter-Campus Transfer. Please contact for further information.

Fees and funding

Tuition fees

Tuition fees
Status [footnote 1] Full-time Part-time
UK 9152 4576
Overseas [footnote 2] 20376 10188


  1. Your residency 'status' is usually defined as the country where you have been ordinarily resident for the three years before the start of your course. Find out more about tuition fees.
  2. Overseas includes applications from European Union countries who do not hold Pre-Settled or Settled status in the UK. Read more about the application process for EU nationals.

Scholarships and bursaries

We aim to encourage well-qualified, ambitious students to study with us and we offer a wide variety of scholarships and bursaries to achieve this. Over £6 million worth of opportunities are available in fee and stipend scholarships, and more than 400 students benefit from this support.

View our full range of postgraduate scholarships.

Entry requirements


A good Honours degree (first or second class) in Mechanical Engineering, another Engineering degree, Economics, Mathematics, or a degree in another quantitative discipline.

English language requirements

If your first language is not English, or your first degree was not taught in English, we'll need to see evidence of your English language ability.

The minimum English language requirement for entry to this programme is IELTS 6.5 (or equivalent) with no component lower than 6.0.

If you do not have IELTS 6.5, we offer a range of English language courses to help you meet the English language requirement for this programme prior to commencing your studies:

  • 14 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills)
  • 10 weeks English (for IELTS of 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)
  • 6 weeks English (for IELTS of 5.5 with minimum 5.5 in all skills)

Why Heriot-Watt?

Formula Student

Heriot-Watt Racing is the student-led team which takes part in the annual Formula Student competition.

Online events

We host online events throughout the year, giving you the opportunity to speak to our academic teaching staff, meet students, find out what it is like to study using our Virtual Learning Environment (VLE) and discover how to enrol.

Lifelong connections

Upon completing your studies you will automatically join the UK's oldest alumni association The Watt Club, with 147k members worldwide.

Flexibility and affordability

Study at a time and pace that suits you, and even while you work. HW Online offers pay-as-you-study courses and fees inclusive of exams and study materials, meaning you can focus on success, not extra costs.

Clubs and activities

At Heriot-Watt we have an extensive programme of over 90 sports clubs and societies to get involved in. You can try as many as you like or start one of your own!

Edinburgh campus accommodation

Living on our beautiful Edinburgh campus is a great way to meet others from all over the world. Our student accommodation is within easy reach of the teaching buildings, sports facilities, catering venues and the Student Union

Edinburgh Campus facilities

At Heriot-Watt University, we offer a wide range of services to help you deal with all aspects of your life with us, whether these be academic, personal, technical, financial or just plain fun!

Health and wellbeing

Student Wellbeing Services aim to provide a range of support, guidance, activities and advice to help students to be their best, and get the most from their university experience. From counselling to coaching we'll sure you are fully supported.

Heriot-Watt Student Union

There's more to university life than simply getting your degree, and Heriot-Watt University Student Union is all about helping you to have the best possible experience while you study here.

Living in Edinburgh

Historic and beautiful, a cultural capital that fuels the senses whether you love the arts or nature, nightlife or study life, Edinburgh is stimulating and inspirational and never, ever boring.

Sport facilities

Oriam, Scotland Sports Performance Centre offers state-of-the-art sports facilities, for all levels of sport and ability

Your career

Employers around the world actively seek out our graduates because they are work-ready. All our degrees are career-focused and relevant to the needs of industry. Around 95% of our students are in employment or further study within six months of graduating.

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