MSc in Oil & Gas and Offshore Engineering
Course Information Package
|Course Unit Title||RENEWABLE ENERGIES|
|Course Unit Code||MEM512|
|Course Unit Details||MSc Engineering Management (Electives Courses) - MSc Oil & Gas and Offshore Engineering (Elective Courses) -|
|Number of ECTS credits allocated||7|
|Learning Outcomes of the course unit||By the end of the course, the students should be able to:|
|Mode of Delivery||Face-to-face|
|Recommended optional program components|| Readings: |
The students are expected to read and review 4-5 papers from relevant scientific and business journals.
|Course Contents|| Part 1: Introduction to financial risk management|
An overview of the different types of risks including market, interest rate, currency, credit and operations risk
Part 2: The VaR approach to risk management
Measuring financial risk using the Value at Risk (VaR) approach. Risk calculations using parametric distributions. Uses of VaR. Backtesting VaR models. Portfolio risk. Calculating and forecasting volatilities and correlations.
Part3: Implementing Delta-Normal VaR
Application to currencies and stocks. Application to fixed income securities. Applications to options and futures. Applications to portfolios with many assets.
Part4: Simulation method in risk management
Historical simulation. Monte Carlo simulation in one dimension. Multidimensional Monte Carlo. Applications in financial risk management.
Part 5: Credit risk management
Financial statement information and risk of default. The contingent claims approach to credit risk
Part 6: Operations management decision areas
An overview of key operations management decision areas, such as Capacity, Facilities, Technology, and Vertical Integration planning, production planning & control, quality, organisation, workforce, new product development, and performance measurement systems.
Part 7: Spreadsheet simulation using @Risk
An introduction to @Risk, using spreadsheets to perform simulations, generating normal random variables. Hands-on practice on realistic operations management problems, such as: production scheduling based on uncertain demand and time requirements, optimal inventory ordering when demand is uncertain, capacity planning faced with uncertain demand for a new product, product mix decisions when demand and resource requirements for each product are uncertain.
Part 8: System simulation using Arena
An introduction to Arena; using flowcharts to perform system simulation. Flowchart modules and their functionality; model data and data modules; process simulation and reports generation. Hands-on practice on realistic manufacturing line problems, such as work in progress modeling, distribution centers, assembly lines, and batch process manufacturing establishments.
|Recommended and/or required reading:|
|Planned learning activities and teaching methods|| The course is delivered through three hours of lectures per week. Lectures also include in-class exercises to enhance the material learning process. The course also includes coursework. |
Practical demonstrations and labwork are conducted in computer laboratories using various software The course material (notes, exercises, forum, etc) is maintained on the university’s e-learning platform
|Assessment methods and criteria|
|Language of instruction||English|