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Master's Degree in Specialized Economic Analysis

Economics of Energy, Climate Change, and Sustainability Program

Learn about the economic challenges that the energy transition and climate change entail.

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9 months
full time
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17,500€
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Face-to-face
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English
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60 ECTS
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Campus: Bellaterra (UAB) and Ciutadella (UPF)
Program begins in September 2025
Application deadline for 2025-2026, is July 2, 2025
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Master's Degree in Specialized Economic Analysis
Applications for 2025-2026 Master´s Degrees are now open!

About this Master’s program

There is a growing need to understand the technological transformations and economic challenges that the energy transition and climate change entail.

How can we understand the economic and ecological forces? What can we do to improve outcomes?

In the BSE Master’s program in Economics of Energy, Climate Change, and Sustainability, you will acquire an advanced understanding of the rapidly changing energy sector, learn how economic theory and data tools can be used to understand their functioning and trends, and develop the qualifications that employers are looking for on their teams. 

Program Structure

Students from this Master’s program will be able to choose from different elective courses that are also available in the Competition, Regulation, and Markets Program and the Economics of Public Policy Program. These three programs share the same fundamental basic courses that will provide you with an in-depth knowledge of how economic policy and markets work. At the same time, each program provides its own specialization courses that will make you an expert in one of the specific fields.

How our program works

  • In Term 1, the Master’s program will present the foundations of theoretical and quantitative frameworks to understand energy markets and climate policy.
  • Then in Term 2, you will apply these concepts to a variety of evolving situations, from the regulation and green transition in energy markets to the accounting of climate risks and costs in the banking sector.
  • During Terms 2 and 3, you will have the opportunity to go deeper into advanced topics, such as climate change and migrations, advanced quantitative methods for energy modeling, and advanced Data Science topics.

You will also complete a master project, which will be supervised in regular meetings with an advisor. The project will allow you to put your new knowledge into practice and improve your writing and expository skills.

Is our program right for you?

The Economics of Energy, Climate Change, and Sustainability Program is ideal for students and early professionals in Economics, Business, Data Science, Engineering and other STEM backgrounds who want to focus their careers on energy and climate change policy. At BSE, we can provide the theoretical frameworks and quantitative tools to directly inform the energy transition at government agencies, central banks, think tanks, and companies. A growing number of companies, even if not related to the energy sector, are incorporating technical staff to provide in-house guidance on the uncertainty arising from the energy transition and climate change, and our students will help fill that gap.  

Our program has a quantitative focus that can be particularly exciting to students and professionals who enjoy data analysis and coding. Regardless of your coding background, you will complete the Master’s with a full range of computational tools and resources for in-depth analysis of energy and climate data.

Discover what makes this program truly exceptional

1

Study with experts in Energy: The Director of this program is also the Director of Climate Change at the Center for Economic Policy Research.

2

Study with leading researchers and professionals: Learn the latest developments in energy from researchers and professionals working in the private and public sectors.

3

Quantitative focus: This program focuses on data analysis and coding for in-depth analysis of energy and climate data.

4

Understand the rapidly changing energy sector: Learn how economic theory and data tools can be used to understand their functioning and trends.

Meet the Program Directors

Program Director

Mar Reguant

Deputy Director

Albert Banal-Estañol

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Ready to make a difference? This program is designed for

Students who are passionate about the rapidly changing energy sector. Here’s why it is perfect for you:

  • You studied Economics or Business and have a strong interest in energy and sustainability economics.
  • You want to build your knowledge of economics in energy markets and their regulation.
  • You are a researcher looking to learn more about recent economic tools.
  • You are an aspiring PhD student looking for a rigorous Master’s in energy economics.

What skills and knowledge will you learn?

Learn the skills needed to understand the energy sector, and data tools to understand economic theory.

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Learn how energy markets are organized

You will learn how energy markets are organized and the challenges associated with energy transition.
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Build short- and long-run economic models

You will be able to build short- and long-run economic models of the energy transition.
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Evaluate the cost/benefits

You will acquire analytical tools to evaluate the cost/benefits of alternative energy regulations.
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Learn about economic concepts

Learn about economic concepts and frameworks associated with the analysis and tracking of sustainability goals.

Professors

BSE Professors are renowned researchers who are published in leading Economics Journals.

UPF and BSE

Albert Banal-Estañol

UPF and BSE

Javier Gómez Biscarri

UPF and BSE

Rosa Ferrer

UPF and BSE

Jaume Garcia-Villar

UAB and BSE

Andre Groeger

Associate Professor University of Zurich

David Hémous

IAE-CSIC and BSE

Joan Llull

UPF and BSE

Humberto Llavador

Associate Professor, CEMFI

Gerard Llobet

UPF and BSE

Martí Mestieri Ferrer

Associate Professor, University of Copenhagen

Morten Olsen

UAB and BSE

Fernando Payró Chew

ICREA-IAE-CSIC and BSE

Mar Reguant

Institute of Environmental Science and Technology (ICTA)

Pere Riera

Assistant Professor, ESADE

André B.M. Souza

National Bank of Belgium

Thomas Stoerk

Professor, University of Leuven

Frank Verboven

Program Schedule

In September, students will have the opportunity to take a brush-up course in Mathematics and Statistics, and Stata. These courses are not mandatory but highly recommended to assure a smooth start.

In the beginning of the first term, students will also have to take brush-up courses in Coding in R and Coding in Python. These two courses are mandatory in order to take Foundations of Data Science in Term 1.

Term 3 (April - June)

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*Policy Lessons are shared by all programs in the Master’s in Specialized Economic Analysis. Students must choose two Policy Lessons among those organized by any of the programs (CRM, ECCS, EPP, ITFD, and MACRO)

Course titleCreditsProfessor(s)
Mandatory
Master Project6 Mar Reguant
Competition and Regulation in Energy Markets3 Albert Banal-Estañol
Economic Geography and Climate Change3 Andre Groeger
Policy Lessons*3 Thomas Stoerk
Electives (Choose from 0 to 3 ECTS)
Economics of Market Regulation3 Gerard Llobet

Master’s Projects

Students use the tools and knowledge they've acquired during the Master’s to explore a topic of their choice for the Master’s project. It can be carried out individually or in groups.

Examples of Master's Projects

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Master’s degree awarded by UAB and UPF

Upon successful completion of the BSE Economics of Energy, Climate Change, and Sustainability Program, students will receive a Master’s Degree in Specialized Economics Analysis awarded jointly with Universitat Autònoma de Barcelona (UAB) and Universitat Pompeu Fabra (UPF).

 

BSE Institutional Accreditations
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Quality Accreditations

All Barcelona School of Economics Master’s degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”).

Quality indicators for this Master’s degree

BSE commitment to quality

accreditation_institution
Placement Rate
80%

  • Job titles: Analyst, Consultant, Researcher.
  • Industries: Consulting, Government and Authorities.
  • Companies: Edison Next; EirGrid Group; KPMG; Massachusetts Department of Public Utilities; Oslo University.
  • Higher Education: 25% go on to a PhD or further education.

Work Internationally

Cities with the most alumni

milan
Milan
zurich
Zurich
oslo
Oslo
boston
Boston
dublin
Dublin

Testimonials

Testimonial
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Eugenio Parigi

I was looking for a program that combined rigorous academic training with a strong focus on real-world challenges like the climate one, and the Energy Economics Master’s at BSE was the perfect fit. The program’s blend of economics, policy, and technical modules offered me a comprehensive understanding of energy markets, sustainable practices, and emerging technologies. The opportunity to learn from industry experts and collaborate with a diverse, international cohort truly enriched my experience and prepared me to tackle the global climate challenge.

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Why study a Master’s at BSE

1

Ranked among the top institutions for economics research in the world by RePEc.

2

Nobel Laureates and prestigious economists develop BSE Master’s.

3

BSE Master’s are taught by well-renowned researchers and faculty.

4

Study in the heart of vibrant Barcelona.

Admissions and Entry Requirements

At BSE, we look for excellence. Key elements of a strong application are a high GPA, a sound statement of purpose, and standout reference letters. Strong knowledge of Economics and good quantitative skills are also recommended.

Master’s programs start: September 2025
Application deadline: July 2, 2025

Requirements:

  • An undergraduate/bachelor/grado/laurea, or equivalent degree from an accredited college or university (for Bologna degrees, a minimum of 180 ECTS are required).
  • University diploma in Economics, Finance, Engineering, Mathematics, Statistics, or Business Administration. Students with academic backgrounds in other subjects will be considered.
  • An advanced level of English language skills: TOEFL score of 90 or above; IELTS Academic Test score of 6.5 or above.

Candidates will also be evaluated on the following admission criteria:

  • Outstanding academic record.
  • Quantitative skills.
  • Reference letters.

FAQ

Below you will find our most frequently asked questions but do not hesitate to contact the BSE Admissions Team to learn more about our Master’s programs.

Which rankings is BSE listed in?

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View the Rankings Page to see where BSE is listed

Can I apply to different Master’s programs?

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You can apply to three different programs for the same academic year.

Can I apply for tuition funding?

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You will automatically be considered for our tuition fee funding when you submit your application

What level of English is expected for this Master’s?

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An advanced level of English is required: TOEFL score of 90 or above; IELTS Academic Test score of 6.5 or above; Duolingo English Test 115 points

Should I take the GRE General Test before I apply?

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The GRE General Test highly recommended, but optional

Can I enter another BSE Master's directly from this program?

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Students who successfully complete the Economics of Energy, Climate Change, and Sustainability Program are eligible for direct admission to the following programs, if they stay for a second consecutive year:

Master’s Degree in Data Science:

OR

Master’s Degree in Economics and Finance:

A 20% discount will be applied on the second program’s tuition fees. All BSE Alumni are eligible for this discount at any time. Learn more about taking a second BSE Master’s degree.

Contact our Admissions Team

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