This fall marks the inaugural semester of Energy MBA courses at the University of Wyoming College of Business.
The Energy MBA is a collaborative effort among the College of Business, School of Energy Resources and energy industry leaders. The initiative strategically matches Wyoming’s energy strengths with industry opportunities for growth and placement, says Steve Farkas, UW College of Business MBA director.
“The program requires an additional 24 credit hours beyond the MBA core curriculum; the entire program can be completed in 21 months,” Farkas says.
The curriculum addresses energy industry concerns on multiple levels to include: traditional hydrocarbon energy businesses (coal, oil and natural gas); the power generation industry; and alternative energy (renewable, nuclear and cogeneration).
Students have an opportunity to select two energy tracks in the MBA program: an MBA with an energy concentration and an MBA in energy management.
The MBA with an energy concentration requires students to complete courses in energy economics and policy; supply chain management in the energy industry; and energy finance -- securities, hedging and trading, all of which are offered this fall.
Students electing the MBA in energy management track will complete the same courses in addition to energy policy and regulation; marketing and sustainable consumption; energy accounting; and energy finance 2; plus a project evaluation in the 2014 spring semester.
“This summer, MBA student teams have had an opportunity to display their newly acquired business skills by engaging in strategic, hands-on projects with UW industry partners -- Encana Oil and Gas and Marathon Oil,” Farkas says.
Dave Emery, Black Hills Corp. chairman, president and CEO, sees the benefit of the new program.
“It makes sense that Wyoming -- a leading producer of both traditional and alternative energy -- and its university have created a program that combines energy industry expertise with excellence in business management,” he says. “No place in the country is better positioned to be a leader in this sector.”
Industry relevance is the cornerstone of the Energy MBA program, adds Shaun Andrikopoulos, co-founder and president of PointWest Resources, LLC, and Ultra Petroleum Visiting Chair in the UW College of Business.
“UW’s Energy MBA graduates will hit the ground running with a strong general management education combined with a solid foundation of how the energy industry works,” he says. “Organizations in every industry will benefit by hiring graduates of the UW Energy MBA program.”
UW students already are considering how the program will benefit their careers.
Nicholas Considine, from State College, Pa., and Christina Irion, from Windsor, Colo., are Energy MBA candidates, and both cite their major reason for choosing the program as an opportunity to further their understanding of the energy industry. Considine says the program will give him a competitive advantage.
“Since starting my MBA, I have had the opportunity to work directly with Encana Oil and Gas,” he says. “I hope to leverage this experience into a position in energy marketing or trading.”
After completing her coursework, Irion hopes to own an agriculture/water law firm. She believes that by studying the energy industry, she will be “better equipped to handle tough situations.”
Some of the top professors in their field will teach the courses, Farkas says. Energy economics and policy applies tools of economic analysis to energy markets and policymaking and will be taught by Timothy Considine, UW School of Energy Resources professor of energy economics. His research focuses on energy economics, environmental economics, industrial organization and applied econometrics.
Barry Brewer, UW Department of Management and Marketing assistant professor of decision science, will leverage his research in outsourcing, supply chain trust and supply chain strategy in the energy supply chain management course.
“The purpose of the energy supply chain course is to examine supply chain activities and issues in the energy sector to provide students with principles and tools that would prepare them for careers in the industry,” he says.
UW Department of Economics and Finance Professor Patrick Fleming, a veteran of global markets, will use more than 25 years of investment and management experience to teach students in the energy finance course.
“The energy finance/trading course is exciting because it will teach the students the practical application of energy futures, options, swaps and hedging,” he says. “Most MBA students graduate with basic theoretical knowledge of these derivative securities. This class will focus on how these securities are used in the real world of energy trading and finance.”
For more information about the program or how to apply, contact the MBA Program office at (307) 766-2449 or email mba@uwyo.edu.
