2014-15 Undergraduate Catalog

Energy Economics and Finance

Energy Economics and Finance Mission

The mission of the Energy Economics and Finance Program is to educate students in the knowledge essential for understanding the business theory, practice, and processes necessary for analyzing the feasibility of projects in the energy industry.

Energy Economics and Finance Program Goals and Outcomes

Goal Outcome
Meet the financial analysis needs of the energy industry in North Dakota and the Great Plains.
Prepare future business managers to meet energy challenges.Understand the historical practice and theory of energy markets.
Examine energy industry-specific approaches to financial analysis and practice.
Critically analyze energy projects and problems using appropriate data and technology tools.
Provide methods for examining alternative energy sources for their economic and financial suitability in meeting energy users’ needs.Investigate the economic valuation, strategy, and finance of energy projects.
Explore links between energy projects and financial markets.
Value energy projects, including real options.
Gain understanding of renewable energy user markets.
Discover how financing choices affect energy project valuation.
Implement value-at-risk methods for risk management.
Understand economic fundamentals of energy industries.
Assign value to operational components, such as oil fields, pipelines, wind farms, and ethanol/biodiesel plants.
Contribute to our nation’s energy independence and security by educating a workforce dedicated to energy economic and financial analysis.

Bachelor of Science with a Major in Energy Economics and Finance (120 CR)

The Energy Economics and Finance major is designed to provide a foundation in geological sciences and a rigorous selection of economics and finance courses focused on energy topics to enable students to perform business analyses as members of asset-project teams for a range of business analysis positions in the energy industry, from business and financial analyst or project analyst for an energy company or a utility, to energy loan specialist for a financial institution, to energy economist, to a corporate planner leading eventually to CFO or CEO positions and to positions as energy-audit consultants to public service commissions. The special strengths of the program include its capability to link economic and financial analysis processes and practices with energy-related issues, its ability to offer students the opportunity to enhance this link through “options” that provide specialization, and its uniqueness within the region.

The Energy Economics and Finance program is designed to prepare students to be financial analysts capable of providing value to energy organizations. To meet this objective, the curriculum builds upon a strong business core by further blending knowledge in three areas: geology, economics, and finance. The curriculum has four components: General Education, College of Business Core Requirements, required major courses, and elective options.

General Education
General Education courses38-40
College of Business Required General Education Courses
Principles of Microeconomics
Principles of Macroeconomics
Elementary Statistics
College of Business Core Requirements
ACCT 200Elements of Accounting I3
ACCT 201Elements of Accounting II3
ACCT 300Legal Environment of Business3
BIT 220Management Information Systems3
BADM 301Fundamentals of Management3
BADM 321Marketing3
BIT 318Business Communication3
BOTE 247Spreadsheet Applications3
FIN 353Corporation Finance3
Courses Required for Energy Economics and Finance Major
ACCT 321Managerial Accounting3
ACCT 375Principles of Energy Accounting3
ACCT 415Energy Law3
BADM 416Operations Management3
ECON 312Price Theory3
ECON 314National Income Analysis3
ECON 320Environ and Nat Resource Econ3
ECON 410Managerial Economics3
FIN 281Fundamentals of Energy3
FIN 357Advanced Corporate Finance3
FIN 421International Energy Markets3
FIN 458Financial Analysis and Valuation3
FIN 459Advanced Project Evaluation3
FIN 491Seminar in Energy Topics (Energy Economics and Finance Required General Education Courses)2
GEOL 260Energy Resources3
MATH 146Applied Calculus3
Energy Economics and Finance Required General Education Courses
Environmental Geology with Lab
Physical Geology with lab
Electives8
(To meet the 120 SH graduation requirement)
Total Hours120-122