Department Of Earth Science & Engineering
Faculty of Engineering
MSc in Metals & Energy Finance
https://www.mining.com/markets/commodity/nickel/
STUDENT HANDBOOK
2020–2021
Contents
Welcome to the College ........................................................................................... 6
Our Principles ........................................................................................................... 7
Welcome from the Graduate School....................................................................... 8
The Graduate School ............................................................................................... 9
Welcome from the Graduate Students’ Union (GSU) .......................................... 10
The Graduate School ............................................................................................. 10
1. Introduction to the Department ...................................................................... 11
Welcome from Head of Department and Programme Director...................................... 11
Head of Department for Earth Science & Engineering: Mark Sephton .......................... 11
Welcome from Programme Director ............................................................................. 12
Guidance on COVID-19 ............................................................................................... 13
Health and Safety on COVID-19 .................................................................................. 13
Visiting campuses safely .............................................................................................. 13
COVID-19 code of conduct .......................................................................................... 13
COVID-19 Contact Tracing Hub ................................................................................... 13
COVID-19 Procedures for Halls ................................................................................... 13
Research Groups and Sections in ESE ........................................................................ 14
Equality, Diversity and Inclusion at Imperial ................................................................. 16
Academic and Administrative staff................................................................................ 18
English language requirement ...................................................................................... 19
Attendance and absence.............................................................................................. 19
Key dates 2020-21 ....................................................................................................... 19
Key events 2020-21 ..................................................................................................... 20
2. Programme Information .................................................................................. 21
Imperial Mobile app ...................................................................................................... 21
Welcome to Imperial .................................................................................................... 21
Imperial Success Guide ............................................................................................... 21
Career Events and Timetable ....................................................................................... 22
Blackboard ................................................................................................................... 23
Panopto ....................................................................................................................... 23
MS Teams.................................................................................................................... 23
3. Location and Facilities .................................................................................... 24
Facilities ....................................................................................................................... 24
Computers and Printing ............................................................................................... 24
Printing credit ............................................................................................................... 24
1
Student Lockers ........................................................................................................... 24
Bicycles ....................................................................................................................... 25
Security ........................................................................................................................ 25
Internal and External Mail ............................................................................................ 25
Library Services ........................................................................................................... 25
Maps ............................................................................................................................ 26
Accessibility ................................................................................................................. 26
Smoke-Free Policy....................................................................................................... 26
SafeZone ..................................................................................................................... 26
Departmental Access and Lone Working ..................................................................... 27
4. Expenses policy............................................................................................... 28
Expenses Policy – A summary for Students ................................................................. 28
Basic Rules and Rates ................................................................................................. 28
Advance claims ............................................................................................................ 29
5. Working While Studying ................................................................................. 30
6. Health and Safety............................................................................................. 31
The College Safety Department ................................................................................... 31
Occupational Health requirements ............................................................................... 31
7. College Policies and Procedures ................................................................... 32
Regulations for Students .............................................................................................. 32
Academic Feedback Policy .......................................................................................... 32
Provisional Marks Guidance ......................................................................................... 32
Late Submission Policy ................................................................................................ 32
Mitigating Circumstances ............................................................................................. 32
Academic Misconduct Policy and Procedures .............................................................. 33
Unsatisfactory Progress ............................................................................................... 33
Academic Appeal Procedure ........................................................................................ 34
Arithmetic Marks Check ............................................................................................... 34
General Data Protection Regulation (GDPR) ............................................................... 34
Student Complaints ...................................................................................................... 34
Student Disciplinary Procedure .................................................................................... 35
Intellectual Property Rights Policy ................................................................................ 35
Use of IT Facilities........................................................................................................ 35
8. Well-being and Advice .................................................................................... 37
In your department ....................................................................................................... 37
Your Postgraduate (Taught) Senior Tutor .................................................................... 37
Departmental Disability Officers ................................................................................... 37
Your Union ................................................................................................................... 38
2
Imperial College Union Advice Centre.......................................................................... 38
Student representatives ............................................................................................... 38
Student Hub ................................................................................................................. 38
Student Support Zone .................................................................................................. 38
www.imperial.ac.uk/student-support-zone .................................................................... 39
Useful support contacts ................................................................................................ 39
Health and wellbeing .................................................................................................... 39
Imperial College Health Centre .................................................................................... 39
Imperial College Dental Centre .................................................................................... 39
Student Counselling and Mental Health Advice Service ............................................... 39
Multi-Faith Chaplaincy Service ..................................................................................... 39
Disability Advisory Service ........................................................................................... 39
International students’ support ..................................................................................... 40
Centre for Academic English ........................................................................................ 40
International Student Support team .............................................................................. 40
Careers ........................................................................................................................ 40
Careers Service ........................................................................................................... 40
ICT and software .......................................................................................................... 40
ICT Service Desk ......................................................................................................... 40
Software shop .............................................................................................................. 40
9. Student Records and Data .............................................................................. 41
Student records and examinations ............................................................................... 41
Degree certificates ....................................................................................................... 41
10. Work-life Balance............................................................................................. 42
Imperial College Union ................................................................................................. 42
Move Imperial .............................................................................................................. 42
11. Student feedback and representation ............................................................ 43
Feedback from Students .............................................................................................. 43
Student Representation................................................................................................ 43
Society of Petroleum Engineers ................................................................................... 43
Staff-Student Committee .............................................................................................. 43
12. Student Surveys .............................................................................................. 44
13. Course Structure and Assessment ................................................................ 45
Course Module Description
Accreditation ................................................................ 45
Accreditation – Institute of Material, Minerals & Mining (IoM3) ..................................... 46
Module Summary ......................................................................................................... 46
Autumn Term ............................................................................................................... 46
Spring Term ................................................................................................................. 46
3
E-learning & Blended Learning Methods ...................................................................... 46
Overview ...................................................................................................................... 47
Autumn Term Course Modules..................................................................................... 49
Management and Business Module: Accounting .......................................................... 49
Management and Business Module: Cash Flow Modelling .......................................... 51
Management and Business Module: Foundation Mathematics..................................... 52
Quantitative Finance Module: Mathematics for Finance ............................................... 53
Petroleum and Mineral Geoscience Modules: Mineral Deposit Studies ........................ 54
Petroleum and Mineral Geoscience Modules: Petroleum Engineering ......................... 55
Petroleum and Mineral Geoscience Modules: Petroleum Geology ............................... 56
Language Module ........................................................................................................ 58
Quantitative Finance Module: Investments & Portfolio Management ............................ 59
Spring Term course Modules ....................................................................................... 60
Management and Business Module: Management of Projects, Markets and Supplies . 60
Project Evaluation Module: Metals and Energy Project Appraisal and Finance ............ 62
Project Evaluation Module: Minerals Engineering ........................................................ 64
Project Evaluation Module: Resource Evaluation ......................................................... 65
Project Evaluation Module: Extractive Metallurgy ......................................................... 66
Management & Business Module: Strategic Management ........................................... 67
Quantitative Finance Module: Derivatives .................................................................... 69
Plagiarism and Cheating .............................................................................................. 70
14. Course Assessment and Examinations ......................................................... 72
Academic Feedback..................................................................................................... 72
Evaluation Guidelines .................................................................................................. 72
Marking Scheme .......................................................................................................... 73
Course Timetable ......................................................................................................... 74
Virtual Fieldtrips ........................................................................................................... 75
Virtual Wessex Geological Fieldtrip .............................................................................. 75
Intended Learning Outcomes. ...................................................................................... 75
Deliverables. ................................................................................................................ 75
Extra marks will be earned for: ..................................................................................... 76
Virtual South Africa Fieldtrip ......................................................................................... 76
Dissertations ................................................................................................................ 77
Internships ................................................................................................................... 78
Planning ....................................................................................................................... 79
Layout and Editorial ..................................................................................................... 79
Approval, Implementation and Supervision .................................................................. 80
Progress Reports ......................................................................................................... 82
4
Assessment ................................................................................................................. 83
Submission and File Management ............................................................................... 84
Disclaimer and Confidentiality ...................................................................................... 84
15. And Finally ....................................................................................................... 86
Alumni Services ........................................................................................................... 86
Opportunities for Further Study .................................................................................... 86
5
Welcome to the College
Congratulations on joining Imperial College London, the only university in the UK to focus
exclusively on science, medicine,
engineering and business.
From Fleming’s discovery of Penicillin to
Gabor’s invention of holography, Imperial
has been changing the world for well
over 100 years. You’re now part of this
prestigious community of discovery and
we hope you will take this opportunity to
make your own unique contribution.
We understand that this is a challenging
time for our student community due to
the impact of coronavirus and we are
committed to providing you with the very
best academic resources to enrich your
experience. Information on teaching and
learning, services and facilities to
support the wider student experience
during the Covid-19 pandemic can be
found on the College’s webpages,
alongside local information provided by
your Department. We also provide a
dedicated support network and a range
of specialist support services to make
sure you have access to the appropriate
help, whether that’s further training in an academic skill like note taking or simply having
someone to talk to.
You’ll have access to an innovative range of professional development courses within our
Graduate School throughout your time here, as well as opportunities to meet students from
across the College at academic and social events.
We actively encourage you to seek out help when you need it and try to maintain a healthy
work-life balance. Our choice of over 360 clubs, societies and projects is one of the largest
of any UK university, making it easy to do something different with your downtime. Access to
the gym and other sporting facilities will be dependent on government guidance. We are
working to ensure that you have access to a variety of resources online to support your
health and wellbeing if there are restrictions.
As one of the best universities in the world, we are committed to inspiring the next
generation of scientists, engineers, clinicians and business leaders by continuing to share
the wonder of what we do through public engagement events. Postgraduate students,
alongside our academics and undergraduate students, make a significant contribution to
events such as our annual Imperial Festival and our term-time Imperial Fringe events – if
you’re interested in getting involved then there will be opportunities for you to do so.
6
Our Principles
In 2012 the College and Imperial College Union agreed ‘Our Principles’ a series of
commitments made between students and the College. The Principles are reviewed annually
by the Quality Assurance and Enhancement Committee and changes recommended for
Senate approval.
Imperial will provide through its staff:
• A world class education embedded in a research environment
• Advice, guidance and support
• The opportunity for students to contribute to the evaluation and development of
programmes and services
Imperial will provide students with:
• Clear programme information and assessment criteria
• Clear and fair academic regulations, policies and procedures
• Details of full programme costs and financial support
• An appropriate and inclusive framework for study, learning and research
Imperial students should:
• Take responsibility for managing their own learning
• Engage with the College to review and enhance provision
• Respect, and contribute to, the Imperial community
The Imperial College Students' Union will:
• Support all students through the provision of independent academic and welfare assistance
• Encourage student participation in all aspects of the College
• Provide a range of clubs, societies, student-led projects and social activities throughout the
year
• Represent the interests of students at local, national and international level
www.imperial.ac.uk/students/our-principles
7
Welcome from the Graduate School
Welcome to Imperial College London and the Graduate School!
The Graduate School is responsible for the postgraduate experience at the College and we
work closely with the Union and the Graduate Students’ Union to ensure that when decisions
are being made, which affect your time at Imperial, your voice is heard.
Another important aspect of our role is to offer you a free and exciting range of professional
development opportunities which you can access wherever you are in the world.
Our team of tutors have a variety of research and other career experiences. We understand
the importance of developing professional skills and our programmes will help you to progress
in your academic studies and research and will prepare you for your future career. Whether
you wish to pursue a career in academia, industry or something else, professional
development training will improve your personal impact. You will also get to meet students
from other Departments when attending our courses.
The Graduate School runs exciting competitions throughout the year which are an opportunity
to broaden your knowledge as well as to meet other students and have fun. Our primary way
to communicate to you will be through our monthly newsletter. However, do check our
website, blog and social media platforms to keep up to date with all the latest activities
available to you.
Finally, Imperial College is an extremely exciting, stimulating and diverse environment in which
to work, to study and to research. Do make the most of all that the College and your
programme has to offer.
8
The Graduate School
You automatically become a member of the Graduate School when you register as a
postgraduate student at Imperial.
The Graduate School has been set up to support all postgraduate students at the College
through:
•
•
•
Training and development courses
Networking activities, social and
academic events to encourage crossdisciplinary interactions
Forums to represent the views of
postgraduate students throughout the
College
‘Masterclass’ professional skills courses
You can see the full range of free professional
skills courses for postgraduate students on the
Graduate School website:
http://www.imperial.ac.uk/study/pg/graduateschool/students/masters/
All courses can be booked online.
Contact us
Level 3, Sherfield Building, South Kensington Campus
020 7594 1383
graduate.school@imperial.ac.uk
www.imperial.ac.uk/graduate-school
9
Welcome from the Graduate Students’ Union (GSU)
I am delighted to welcome you to the Imperial College
and the Graduate Students’ Union (GSU). I hope you
have a fantastic time here.
The Graduate Students’ Union is a university-wide
representative body elected by postgraduate students.
Our job is to stand up for your interest as a postgraduate
and ensure that you have the most enjoyable and
beneficial time possible at Imperial. As the GSU President,
I want to emphasise that it is postgraduate students that
Imperial is relying on to maintain its position as a Top 10
university in the world, therefore, your voices really do matter!
This year, our GSU Committee will keep improving postgraduate well-being by increasing the
quality of supervision and by creating strategies to tackle mental health issues. Meanwhile,
we will also try to strengthen the relationship with enterprises, so that we can co-organize
more campus activities, negotiate job and internship opportunities for our postgraduate
students and raise more money for our social and recreational events.
We also realised your learning, researching and job/internship application in this year might
be terribly influenced by the the COVID-19 pandemic. This might also be worrying you. To
minimise the effects and guarantee that your voices are heard, my team and I will meet you
through online or offline channels, collect your opinions and ideas, and advocate them to the
university.
This GSU Committee is ready to serve for you. We are happy to answer your questions and
fully expect to receive your feedback. I wish you all the best at Imperial. Please stay happy
and healthy!
Zixiao Wang
President of Graduate Students’ Union
Imperial College London
Email: gsu.president@imperial.ac.uk
The Graduate School
10
1.
Introduction to the Department
Welcome from Head of Department and Programme Director
Head of Department for Earth Science & Engineering: Mark Sephton
Congratulations and welcome to the Department of Earth
Science and Engineering. We are a world class research
ecosystem in which the boundaries of science and engineering
are extended. Our Master’s students are highly prized and
highly effective in industry and academia. The training you will
receive will allow you to achieve great success and will make a
lasting change to our understanding of the world around us. I
wish you well in your activities and hope that you find your time
with us an extremely rewarding experience. You should feel
reassured by the mechanisms we have in place to help keep
you safe during the current pandemic.
I look forward to meeting you, either virtually or in person, during
the course of your degree in Earth Science and Engineering.
Mark Sephton
Head of Department for Earth Science & Engineering
11
Welcome from Programme Director
The programme you are starting has the following key aims:
•
•
•
•
•
•
•
•
•
produce graduates equipped to pursue careers in the
technical and financial appraisal of natural energy and
mineral resource projects and develop an understanding
of how this knowledge may be applied in practice;
offer traditional minerals related training directly
applicable to a career in the minerals industry for
graduates with geology and minerals engineering
undergraduate degrees;
introduce key technical and geological concepts relevant
to petroleum projects;
enhance career opportunities in the financial services and
petroleum industries for graduates of all backgrounds;
provide the basis for an understanding of quantitative
finance, accounting and strategic management within the
context of technical principles that apply specifically to
mineral and energy projects;
respond to the importance of the City of London as a
global centre for mining and energy finance by providing
knowledge of corporate finance (acquisitions and
mergers), the equity markets, debt finance, metals
markets and associated derivative markets;
provide training in financial modelling, financial
engineering and in the techniques of risk modelling;
enhance entrepreneurial skills;
provide the skills needed to undertake independent
research projects both in industry and in the university
environment.
In order to achieve these deliverables we will need virtually a full
12 months ending only with the submission of your dissertations
in mid-September. This is quite different from most
undergraduate degrees where the formal academic year is
usually not more than about half this period. You will need to
remain focused for the full period of the programme and the
successful completion of the degree is dependent on meeting
minimum standards of performance in all elements of the
examination modules, course work and dissertation.
This Handbook is designed to provide a roadmap for you to help
ensure that you successfully complete the programme.
Prof Dennis Buchanan
Course Director
12
Guidance on COVID-19
We are looking forward to welcoming you to Imperial this Autumn. We are writing to update
you on some amendments to your programme which we will be making in order to ensure
that it can be delivered safely, as a result of the COVID-19 pandemic.
Your programme would normally be delivered in-person on campus. In 2020-21, we plan to
deliver it in multi-mode for format. Multi-mode means that your experience will be a mix of inperson and remote activities. It is important to recognise that, depending on official
government guidance throughout the entirety of next academic year, the balance in the
multi-mode offering may be subject to change. We hope to be able to offer you increased
on-campus learning activities throughout the year.
If you are unable to travel to campus you will not be disadvantaged in your learning
experience, and you will be provided with a remote alternative of any in-person activities.
Further details on the mix of in-person and remote activities and support available to you in
your department are provided in the programme delivery section of this letter.
We aim to update you on our plans for Spring and Summer term in October, including
confirming whether attendance will be required on campus.
Please visit these links for more information:
https://www.imperial.ac.uk/about/covid-19/students/learningexperience/undergraduates-and-postgraduate-taught/programme-details-for-academic-year2020-21/msc-petroleum-engineering-offer-holders/
Health and Safety on COVID-19
Keeping you safe is a top priority for us. We continue to be guided by the latest
official government guidance. At Imperial, we also have some of the world’s leading
researchers of the coronavirus (COVID-19) pandemic who are advising governments around
the world on the most effective measures to take to protect people from the virus as well as
developing and testing a new vaccine.
Government guidance will continue to change in the UK over the coming months and we
are regularly updating our plans for your safe return to campus.
You can find the latest guidance on the measures we are taking for your safety, plus
information about the healthcare support available to you at:
Visiting campuses safely
https://www.imperial.ac.uk/about/covid-19/students/keeping-you-safe/visitingcampuses-safely/
COVID-19 code of conduct
https://www.imperial.ac.uk/safety/safety-by-topic/laboratory-safety/biological-safety/covid-19guidance/keeping-you-safe---general-advice-for-everyone/imperials-code-of-conduct-attendingcollege-during-covid-19/
COVID-19 Contact Tracing Hub
https://www.imperial.ac.uk/occupational-health/COVID-19-Contact-Tracing-Hub/
COVID-19 Procedures for Halls
https://www.imperial.ac.uk/study/campus-life/accommodation/covid-19/c19-proceduresfor-halls/
13
Research Groups and Sections in ESE
Earth Science and Engineering is a highly rated department performing multi-disciplinary
research. It is organised into three broad Research Sections. All PhD students and
academic staff belong to one of these sections. Research Groups operate across Research
Sections in a matrix of scientific interaction. For further details:
http://www3.imperial.ac.uk/earthscienceandengineering/research
Research Sections
The Earth and Planets Section (E&P) is concerned with understanding the
processes that drive the Earth system, and in the formation and evolution
of solid bodies within the Solar System. The Head of this section is Prof
Gareth Collins.
The Petroleum Geoscience and Engineering Section (PGE) conduct pure
and applied research in petroleum reservoir engineering, petroleum
geology, and petroleum geophysics, and carbon-dioxide capture and
sequestration. The Head of this section is Prof Ann Muggeridge.
The Environment, Energy, Minerals and Modelling Section (E2M2) are
concerned with environmental engineering, low-carbon energy, mining and
mineral processing, and modelling and measurement of the perturbed
natural environment. The Head of this section is Prof Matthew Piggott.
Research Groups
The Petroleum Engineering and Rock Mechanics Research Group (PERM) performs
research in all areas of petroleum engineering, including fluid flow in porous media, reservoir
simulation, reservoir characterisation, hydrocarbon thermodynamics, rock mechanics and
drilling, as well as topics such as subsurface carbon sequestration. The research involves
the investigation of complex, non-linear phenomena in highly disordered geological media.
The Impacts and Astromaterials Research Centre (IARC) addresses a wide range of
fundamental planetary science questions, ranging from the origins of the Solar System to the
continuing evolution of the planets, asteroids and comets. The IARC initiative brings together
planetary scientists, facilities and resources from the Department of Earth Science and
Engineering at Imperial College London and the Mineralogy Department of The Natural
History Museum.
The Applied Modelling and Computation Group (AMCG) is committed to both the
development and application of innovative modelling techniques in Earth, nuclear
engineering and biomedical sciences. The group is interested in the development and
application of numerical methods for neutral particle radiation transport, for atmospheric,
ocean and multiphase flows, for optimisation mathematics and its applications, and for the
solution of inverse (imaging/tomographic) problems.
The Sedimentary Basins Group is concerned with the sedimentary and structural evolution
of sedimentary basins, including their stratigraphic and depositional evolution, tectonics,
diagenesis, palaeoenvironments, and surface processes.
14
The MAGIC Laboratory (MAss Spectrometry and Isotope Geochemistry at Imperial College
London) uses isotope geochemistry to tackle a broad variety of questions in Earth,
environmental, and engineering sciences, involving climate, oceans and biogeochemical
cycles, magmatic processes, and cosmochemistry.
15
Equality, Diversity and Inclusion at Imperial
Our strategy is a call to action to everyone at Imperial – staff and students – who believes
that the dignity and individuality of every other person here should be respected and
cherished.
https://www.imperial.ac.uk/equality/governance/strategy/
What we do in the Department
The Department of Earth Science and Engineering is committed to continually supporting
and further developing a vibrant, diverse and inclusive community of staff and students.
https://www.imperial.ac.uk/earth-science/about/edi/
We aim to develop a culture that promotes personal responsibility for equality rooted in
respect and dignity." Prof Mark Sephton, Head of Department
As a Department, our values are:
Supportive | Excellence | Integrity | Innovative | Inclusive | Inspiring
Our values support us to achieve our vision for ESE to be a place for excellence in research
and teaching, and for ESE to be the best place to study, work and to develop your career.
The department hosts an annual rolling programme of workshops which all staff and
students are expected to attend. These include:
•
ESE Values
•
Equality, Diversity and Inclusion
•
Bullying & Harassment
•
Racism Awareness
•
Unconscious Bias
•
Active Bystander
ESE Equality, Diversity, Inclusion and Culture Committee
The Department’s Equality, Diversity, Inclusion and Culture (EDIC) Committee, chaired by
Prof Mark Sephton, is responsible for driving forward the equality, diversity, inclusion and
culture agenda in the department, providing support and guidance to all staff and students.
It is representative of the whole department and therefore includes a diverse representation
from the academic and teaching staff, professional and technical staff, research staff,
undergraduates, taught and research postgraduates.
If you’re interested in advancing equality, diversity, inclusion and culture within the
department and joining our committee, please email hodese@imperial.ac.uk
ESE Athena SWAN Self-Assessment Team
The ESE Athena Self-Assessment Team, reporting to the ESE EDIC and co-chaired by Drs
Katharina Kreissig and Samuel Krevor, is developing a Bronze Athena SWAN application.
The Advance HE’s Athena SWAN Charter was established in 2005 to encourage and
recognise commitment to advancing the careers of women and address gender equality
more broadly. This application process is providing the department with an opportunity to
16
reflect on the great things we do to encourage gender equality and also to develop action
plans to improve things even further.
https://www.imperial.ac.uk/earth-science/about/edi/athena-swan/
17
Academic and Administrative staff
Dennis
Buchanan
2.31B, Royal School of Mines
020 7594 6440
Course Director,
MSc Metals & Energy
Finance
Gareth Roberts
Postgraduate
(Taught) Senior Tutor
d.buchanan@imperial.ac.uk
2.50, Royal School of Mines
020 7594 7363
gareth.roberts@imperial.ac.uk
Joanna Owens
G21, Royal School of Mines
Postgraduate
Education
Administrator,
MSc Metals & Energy
Finance
020 7594 6462
Samantha
Symmonds
G21, Royal School of Mines
j.owens@imperial.ac.uk
020 7594 7339
Postgraduate
Education Manager
Emma Watson
Department
Operations Manager
sam.symmonds@imperial.ac.uk
G23, Royal School of Mines
020 7594 6405
e.watson@imperial.ac.uk
18
English language requirement
If you are not a native English speaker you must meet the College’s English language
requirements.
See the Admissions website for details:
www.imperial.ac.uk/study/pg/apply/requirements/english
For information on English language support available while you’re here, see page 40.
Attendance and absence
You must inform your course director and the Personal Postgraduate Tutor if you are absent
from the College for more than three days during term. If the absence is due to illness you
must produce a medical certificate after seven days. If you are ill and miss an assessment
deadline (this could be an examination, presentation or a coursework submission) you will
need to make a claim for mitigating circumstances within 10 working days of the deadline.
Please contact you course administrator or the personal postgraduate tutor who will be able
to advise on the procedure.
The Registry will be informed of all student non-attendances as the College is obliged to
report the non-attendance of students on Tier 4 visas to the Home Office.
Please note that attendance of all lectures during term-time is compulsory. Registers are
used throughout the course year. If for any reason you cannot attend a lecture, please let
Joanna Owens know immediately.
Key dates 2020-21
Term dates
Autumn term:
3 October - 18 December 2020
Spring term:
9 January - 26 March 2021
Summer term:
24 April - 25 June 2021
Closure dates
Christmas/New year:
24 December 2020 - 1 January 2021
(College reopens on 4 January 2021)
Easter holiday:
1 April - 6 April 2021
(College reopens on 7 April 2021)
Early May bank holiday:
3 May 2021
Spring bank holiday:
31 May 2021
Summer bank holiday:
30 August 2021
19
Key events 2020-21
Start of Autumn term:
5 October 2020
Business school examination week:
14 December 2020
Last day of Autumn term:
18 December 2020
PG Sole Survey (Autumn Term):
December 2020 – January 2021
Start of Spring Term:
9 January 2021
Examination week:
9 January 2021
Virtual Wessex Basin Geological Fieldtrip:
1 – 3 February 2021
Submission of Wessex Basin report:
9 March 2021
PG Sole Survey (Spring Term):
March 2021 – April 2021
Last day of Spring Term:
26 March 2021
Start of Summer Term:
26 April 2021
Examination Fortnight:
26 April - 7 May 2021
Proposed dissertation topics sent to
11 May 2021
course director
Imperial Festival and Alumni Festival:
TBC
Dissertation proposals to be submitted to
11 May 2021
course director
Oral presentation of dissertation to
21 May221
external examiner
Progress Reports 1st review
14 June 2021
End of summer term:
25 June 2021
Progress Reports 2nd review
5 July 221
Deadline for dissertation submission:
30 July 2021
Virtual South Africa Fieldtrip:
2 – 13 August 2021
Submission of South Africa report:
3 September 2021
Results released:
mid-November 2021
Postgraduate Awards Ceremonies:
May 2022
Imperial Festival and Alumni Festival:
May 2021
20
2.
Programme Information
Imperial Mobile app
Don’t forget to download the free Imperial Mobile app for access to
College information and services, including your programme
timetable, College emails and a library catalogue search tool.
www.imperial.ac.uk/imperialmobile
Welcome to Imperial
The College has a Welcome to Imperial app which contains
important information about campus operations, aspects of student
life, a schedule of welcome activities and information about life in
halls. All new students should download this guide to ensure they
have the most up to date information and event schedule for the
start of term.
You can download the App from the Apple or Google App Stores.
Imperial Success Guide
The Imperial Success Guide is an online resource with advice
and tips on the transition to Master’s level study. More than just
a study guide, it is packed with advice created especially for
Imperial Master’s students, including information on support,
health and well-being and ideas to help you make the most of
London.
www.imperial.ac.uk/success-guide
21
Career Events and Timetable
The Department of Earth Science and Engineering works with companies to arrange a
programme career events, talks and presentations given by a range of world class
employers from industry. The careers talks provide an ideal opportunity to get up-to-date
information on the industry, leading companies, and their recruitment processes. In the
sessions on MS Teams, you will have the chance to ask questions, virtually meet industry
representatives and to talk to recent hires about their experiences. Some of the sessions will
be followed by job interviews.
All MSc students are welcome to attend any talk. We encourage you to come along to each
session to ask questions, become informed about the industry, develop your professional
networks and enhance your career prospects.
The programme of Careers Events in the Department for 2020-21 will be updated regularly
at www.imperial.ac.uk/earth-science/current-student-staff-info/msc/ regularly, and we will
email you about upcoming sessions.
For any questions regarding the careers events programme, or suggestions of organisations
you would like to hear from, please get in touch with Victoria Murphy, Liaison and
Communications Manager: v.murphy@imperial.ac.uk
Victoria Murphy
v.murphy@imperial.ac.uk
22
Blackboard
Blackboard is Imperial College London's virtual learning environment (VLE) and is used to
teach courses and store materials online.
Blackboard enables you to view:
•
•
•
•
•
•
•
Electronic copies of course notes
Course Outlines
Assignment questions/ answers
Past exam papers
Individual project information/ advice
Timetable
Company presentations
Blackboard can be accessed via the link below:
https://bb.imperial.ac.uk/
Panopto
Lectures are normally video-recorded using a web-based system called Panopto, which is
available at https://imperial.cloud.panopto.eu.
Using Panopto, recorded lectures can be viewed again during private study if you didn’t
understand something first-time-round. Panopto will also help you catch up if you miss a
lecture due to illness or some other unforeseen circumstance – but you are very strongly
urged not to use Panopto recordings as a substitute for attendance and note taking. While
they are better than nothing, they are no substitute for being there. Note that we do not
guarantee that all lectures will be recorded, as although every effort is made to record
lectures with the Panopto system, occasionally due to technical issues or for other reasons,
recordings may not be available and so we do not guarantee that all lectures will be
recorded.
We also planning to use Microsoft Teams to video-record online lectures. The videos will be
saved either on Microsoft Teams or Panopto – we will decide on the best option to use as
the course progresses.
MS Teams
The main on-line delivery platform for the programme.
23
3.
Location and Facilities
Imperial has a number of campuses in London and the South East. All have excellent travel
links and are easily accessible via public transport.
Your main location of study will be:
Royal School of Mines, South Kensington
Prince Consort Road,
London
SW7 2BP
Facilities
Your Postgraduate Education Administrator is Joanna Owens. Joanna’s contact information
can be found below:
Joanna Owens
G21, Royal School of Mines
020 7594 6462
j.owens@imperial.ac.uk
Computers and Printing
Computer access and printing is available at:
1.49/50: MSc teaching and computer room. No food or drink allowed except a bottle of
water.
3.36 - 3.38: Computer rooms. No food or drink allowed except a bottle of water
For more information on College printing, please visit the link below:
https://www.imperial.ac.uk/admin-services/ict/self-service/computers-printing/printingphotocopying-and-scanning/how-to-print/
Printing credit
Your ID card will contain printer credit when you receive it. This can be topped up by using
the machines located in the library. You can also pay using your debit or credit card:
https://www.imperial.ac.uk/admin-services/ict/self-service/computers-printing/printingphotocopying-and-scanning/buy-credit/
Student Lockers
Lockers are located on the lower ground floor in the RSM Building.
If you wish to use one of these lockers then you should find one that is vacant, add a label
with your name to the front and use your own padlock to secure. Please note all padlocks
are removed at the end of each academic year and contents discarded.
24
Please note that ANY items left on top of the lockers will be removed and disposes of
without warning.
Bicycles
Bicycles are not allowed in the building and must not be chained to the railings. Bicycle
racks are located outside the RSM building and a bike cage is provided under the Faculty
building. For access to the bike cage please fill in the form at the link:
http://www.imperial.ac.uk/estates-facilities/travel/cycling/bike-parking/
Security
All students will be issued with a College Identity Card shortly after Registration. This is a
necessary feature of your life in College as it acts as your Students’ Union membership card,
allowing you access to the all the sports and union facilities, as well as a security pass allowing
you access to appropriate parts of the College and a Library Card. Any loss must be reported
to Security. Please be particularly vigilant about your own security and that of your belongings.
Please remember to keep any valuables locked up and never leave your belongings
unattended.
Fire doors: please make sure that all fire doors are always shut after you - do not wedge them
open.
Internal and External Mail
MSc student post can be collected from the cupboard located in the MSc Break-out room G.39
on the ground floor of the Royal School of Mines. For all postal or faxing enquires please see
ESE Reception, room G22.
Outgoing mail to the College (including Silwood Park & Wye) should be put in the “Internal
Mail Only” tray in Reception (G22). Outgoing external mail should be taken directly to the
Post Office.
Library Services
Our Central Library building has now reopened and libraries at our medical campuses have
extended their staffed opening hours. Study space is limited and some floors of the Central
Library are unavailable, but we are aiming to provide a full service where possible.
The Central Library building opening hours are:
•
•
•
Monday – Thursday: 8.00 – midnight
Friday: 8.00 – 23.00
Saturday and Sunday: 10.00 – midnight
At all of our libraries, staff are available to help you from Monday to Friday from 10.00 to
16.00. Our online enquiry service continues to operate throughout the week and during
evenings and weekends. You must bring your College ID card for entry. Opening hours may
change at short notice. Please check our web page, Twitter or Instagram before you visit.
We have installed a number of measures to keep everyone safe including the introduction of
one-way routes. Please follow these measures and wear a face covering at all times. If you
are using a study space, follow the guidance on the desks.
If you have further questions, please email Library Services:
25
library@imperial.ac.uk
www.imperial.ac.uk/library
Maps
Campus maps and travel directions are available at:
www.imperial.ac.uk/visit/campuses
Accessibility
Information about the accessibility of our South Kensington Campus is available online
through the DisabledGo access guides:
www.disabledgo.com/organisations/imperial-college-london-2
Smoke-Free Policy
All Imperial campuses and properties are smoke-free. This means that smoking by staff and
students is not permitted on or within 20 metres of College land. The policy covers all
College properties, including student accommodation and sports grounds.
www.imperial.ac.uk/smoke-free
SafeZone
SafeZone is the College’s new app through which you can
quickly and directly contact the Security team whenever you need
them. In an emergency situation, whether you’re in need of First
Aid or want to report an incident on campus, SafeZone allows
you to be immediately put in touch with a member of our Security
team and, at the touch of a button, can share your location and
personal profile so that they can respond quickly and effectively
to your specific needs. It also allows the entire College
community to stay informed in the event of a major incident in
London or wherever you may be in the world. SafeZone also
provides information on other services, such as real-time updates on the College shuttle bus.
SafeZone is optional to register to and is now available to download on the Apple and
Android App stores.
All existing phone numbers for the Security team are still operational. In the event of an
emergency, you can still call 4444 from any internal College phone. In the event of a wider
incident in London, you can now also call 0300 131 4444, Imperial’s Emergency Recorded
Message Line, which will point you in the direction of up-to-date information and advice.
26
Departmental Access and Lone Working
Earth Science & Engineering building access hours: Monday to Sunday, 06:00 to midnight.
Earth Science & Engineering laboratory access hours: Monday to Sunday, 08:00 to 18:00.
The RSM building closes at midnight every day and opens at 6 am. You are not permitted to
be in the building outside of these access hours unless you have approved lone and late
working permission.
It is Imperial College London policy to ensure that all lone working is avoided where
possible. Lone working is working in physical isolation, e.g. as the sole occupant of a
laboratory or where no other person is in the vicinity, i.e. within earshot. It is possible for a
worker to be on the same floor of a building or even in the same general area as others, yet
be working alone. Please note that lone working can occur at any time during the day or
night and should not be confused with late working.
Lone working and late working is to be avoided if at all possible and is only permitted after
completion of an online risk assessment (http://www.imperial.ac.uk/safety/safety-bytopic/lone-working/). It must be ensured that your co-workers and course director is aware of
each instance of lone working. Students must provide contact numbers and inform
colleagues and course director of the time they expect to finish. Lone workers must be
familiar with the arrangements for fire, first aid, spillage, power failure and other
emergencies.
Further information can be found at:
https://www.imperial.ac.uk/safety/safety-by-topic/lone-working/lone-working-code-ofpractice/
http://www.imperial.ac.uk/about/leadership-and-strategy/provost/space-policy/accessand-opening-hours-policy/
27
4.
Expenses policy
Expenses Policy – A summary for Students
Imperial College’s policy is to reimburse you if you have had to pay for a valid expense in the
performance of your duties for the College. If you have had to pay for something in the
performance of your duties for the College, our policy is to pay you back. The expense must
be justifiable, reasonable and appropriately evidenced.
All claims that do not comply with the policy will be delayed and may be rejected.
If it important that you read and understand the policy prior to incurring any expense:
https://www.imperial.ac.uk/finance/financial-services/expenses/
A useful 2-page summary can also be viewed here:
https://www.imperial.ac.uk/media/imperial-college/administration-and-supportservices/finance/internal/Expenses-Summary---Published_10.pdf
It is important to note that the policy:
•
•
•
•
•
Affects all College employees, students and visitors. Individuals must ensure that
their visitors are fully aware of the policy.
Will apply irrespective of the source of funds
In cases where the funder and College have differing rules, the policy which is the
most stringent applies.
Some expenses require approval prior to incurring the expenditure (e.g.
consumables, software above £100). This is usually provided by the Department
Operations Manager, Emma Watson
The department does not refund any alcohol purchase
The majority of business expenses should be purchased through College approved
purchasing paths such as preferred and approved suppliers, and not purchased
directly by the claimant. An expense claim should therefore be used to reimburse
incidental expenses only. Items such as travel, equipment, computer hardware and
software should be purchased through College agreements that have been set up for
this purpose. The thresholds in the Expenses Policy apply equally whether you claim an
expense or raise a purchase order (PO) on the College system. Please contact Jackie
Hughes for all purchasing enquiries.
Jacqueline Hughes
j.hughes@imperial.ac.uk
Basic Rules and Rates
Expenses should be submitted as soon as possible after they have been incurred, with an
expectation that they will be submitted within three months. Expenses submitted more than
six months after they have been incurred may be rejected and will require a detailed
explanation for the delay. However, it costs a fixed amount to process any claim, so
claimants should, where practicable, endeavour not to submit claims for less than £30,
unless they represent the total of expenses in a three-month period.
28
The most important thing to remember when incurring an expense is to keep the receipt(s).
Receipts must be itemised receipts listing what has been purchased, it cannot be the credit
card receipts nor bank/credit card statements. The single most common delay in all
expenses is the lack of receipts, or itemised receipts. If receipts are lost or missing, we may
not be able to reimburse the full or any partial cost. Importantly, we can only reimburse the
individual who incurred the expense. If a claim is made for a group, the most senior person
present should pay the expenditure and submit the claim.
All reimbursements require the approval of the College project account holder prior to
incurring the expense. This is usually your supervisor or course administrator. Please obtain
this prior to incurring an expense and submitting an expense claim. This can be done as part
of an email chain.
Submission of expenses is via an email, with scans of all itemised receipts attached and a
completed excel Expense Claim form. You type your name as a signature. Please fill in the
form electronically and email it to Sripriya Niranjan, including all necessary information.
•
Expense Claim Form (E1) for non-employees (Excel) [requires College login]
We aim to process expenses within two weeks of receipt. Payment can take a further two
weeks.
Advance claims
To help individuals with their cash flow during conferences/fieldtrips, etc, individuals can
apply for an advance for business travel or events by completing the relevant form. It is
important to remember that after the trip/event, a standard expense claim should be
submitted for the actual expenditure incurred, with the advance deducted.
By requesting an advance claim, the individual is agreeing that:
•
•
•
The funds will be used exclusively for expenditure in connection with College
business;
Within 30 days of receiving the funds they will submit an Expense Claim form
detailing the actual expenditure they have incurred with supporting receipts, and
reimbursing any funds left-over;
They understand that failure to account for the funds received may result in the
College initiating recovery against them, including (after due warning has been given)
deduction from their salary or stipend, or offset against other amounts due to them
from the College
We will record details of your trip/event within the department and aim to get in touch with
you upon your return. It is, however, your responsibility to ensure that you submit the
receipts and paperwork, along with any potential reimbursement, upon your return from your
trip or shortly after the expenditure has been incurred.
Please contact Sripriya Niranjan if you require any further assistance with an expense claim:
Sripriya Niranjan
G26, Royal School of Mines
020 7594 7334
s.niranjan@imperial.ac.uk
29
5.
Working While Studying
If you are studying full time, the College recommends that you do not work part-time during
term time. If this is unavoidable we advise you to work no more than 10–15 hours per week,
which should be principally at weekends and not within normal College working hours.
Working in excess of these hours could impact adversely on your studies or health.
If you are here on a Tier 4 visa you can work no more than 20 hours a week during term
time. Some sponsors may not permit you to take up work outside your studies and others
may specify a limit.
If you are considering part-time work during term time you are strongly advised to discuss
this issue with your supervisor or Personal/Senior Personal Postgraduate Tutor. If you are
on a Tier 4 visa you should also seek advice from the International Student Support team
regarding visa limitations on employment.
The College’s examination boards will not normally consider as mitigating circumstances any
negative impact that part-time work during term-time may have had on your performance in
examinations or in other assessed work. Examinations or vivas cannot be rescheduled to
accommodate your part-time working arrangements. See also page (Dissertations).
30
6.
Health and Safety
Your Departmental safety contact is:
Simon Davis
020 7594 6544
simon.davis@imperial.ac.uk
The College Safety Department
The Safety Department offers a range of specialist advice on all aspects of safety. This
includes anything which you feel might affect you directly, or which may be associated with
teaching, research or support service activities.
The College’s activities range from the use of hazardous materials (biological, chemical and
radiological substances) to field work, heavy or awkward lifting, driving, and working alone or
late.
All College activities are covered by general health and safety regulations, but higher risk
activities will have additional requirements.
The Safety Department helps departments and individuals ensure effective safety
management systems are in place throughout the College to comply with specific legal
requirements.
Sometimes the management systems fail, and an accident or a near-miss incident arises; it
is important that we learn lessons from such situations to prevent recurrence and the Safety
Department can support such investigations. All accidents and incidents should be reported
online at:
www.imperial.ac.uk/safety
To report concerns or to ask for advice you should contact your programme director,
academic supervisor or departmental safety officer in the first instance. You may also
contact the Safety Department directly.
Occupational Health requirements
The College Occupational Health Service provides services to:
•
•
•
protect health at work
assess and advise on fitness for work
ensure that health issues are effectively managed
The Service promotes and supports a culture where the physical and psychological health of
staff, students and others involved in the College is respected, protected and improved
whilst at work.
www.imperial.ac.uk/occupational-health
The College’s Health and Safety Statement can be found at:
http://www.imperial.ac.uk/safety/safety-by-topic/safety-management/health-and-safetypolicy-statement/
31
7.
College Policies and Procedures
Regulations for Students
All registered students of the College are subject to the Regulations for Students, the
College Academic and Examination Regulations and such other regulations that the College
may approve from time to time.
www.imperial.ac.uk/about/governance/academic-governance/regulations
www.imperial.ac.uk/students/terms-and-conditions
Academic Feedback Policy
We are committed in providing you with timely and appropriate feedback on your academic
progress and achievement, enabling you to reflect on your academic progress. During your
study you will receive different methods of feedback according to assessment type,
discipline, level of study and your individual need. Further guidance on the Policy of
Academic Feedback can be found on the Academic Governance website:
http://www.imperial.ac.uk/media/imperial-college/administration-and-supportservices/registry/academic-governance/public/academic-policy/academicfeedback/Academic-feedback-policy-for-taught-programmes.pdf
Provisional Marks Guidance
Provisional marks are agreed marks that have yet to be ratified by the Board of Examiners.
These results are provisional and are subject to change by the Board of Examiners. The
release of provisional marks is permitted except in certain circumstances. Further
information can be found in the Guidelines for Issuing Provisional Marks to Students on
Taught Programmes:
http://www.imperial.ac.uk/media/imperial-college/administration-and-supportservices/registry/academic-governance/public/academic-policy/marking-andmoderation/Guidelines-for-issuing-provisional-marks-to-students-on-taughtprogrammes.pdf
Late Submission Policy
You are responsible for ensuring that you submit your coursework assessments in the
correct format and by the published deadline (date and time). Any piece of assessed work
which is submitted beyond the published deadline (date and time) would be classed as a late
submission and will incur a penalty (a cap at the pass mark, or it is classed as a fail).
Further guidance on Late Submission of Assessments can be found on the Academic
Governance website:
https://www.imperial.ac.uk/media/imperial-college/administration-and-supportservices/registry/academic-governance/public/academic-policy/marking-andmoderation/Late-submission-Policy.pdf
If you submit late due to mitigating circumstances, you may be able to make a claim that
means that the cap on your mark is lifted. Please see below and the policy document.
Mitigating Circumstances
During your studies you may be affected by sudden or unforeseen circumstances. You
should always contact your Postgraduate (Taught) Senior Tutor for advice and support. If
this happens at the time of, or immediately preceding your assessments you may be able to
32
make a claim for mitigating circumstances. If successful this claim enables the Board of
Examiners when reviewing your marks at the end of the year to have greater discretion with
regards to offering repeat attempts (either capped or uncapped), a repeat year, or with your
progression or final classification. Please note, the Board are not permitted to amend the
marks that you were awarded, only to take your claim into account making decisions.
All claims must be supported by independent evidence and submitted within 10 working
days of the assessment deadline. Any claim made after this deadline is likely to be rejected
unless there is a good reason (such as you were still unwell) until the point of submitting the
claim. Details of the College’s Mitigating Circumstances procedure can be found under the
Mitigating Circumstances tab on the page below:
www.imperial.ac.uk/about/governance/academic-governance/academic-policy/examsand-assessment/
Through the procedure you may also be able to request an extension to deadline to some
forms of assessment. Wherever possible it is expected that this is used as it will enable to
you complete your studies within the same College year (rather than over the summer
holiday or in the next year).
Your department will have specific instructions for making a claim for mitigation or for
requesting an extension. Please contact Gareth Roberts (gareth.roberts@imperial.ac.uk),
the Postgraduate (Taught) Senior Tutor, for more information on how to submit a claim.
Support for ongoing or long-term conditions, or for registered disabilities would not normally
fall under the remit of mitigating circumstances and students should be supported through
their studies with Additional Examination Arrangements. More details can be found at:
www.imperial.ac.uk/disability-advisory-service/support/exams/
Academic Misconduct Policy and Procedures
It is important that you learn how to properly attribute and acknowledge the work, data and
ideas of others. Plagiarism is scientific misconduct, and students whose assessments can
be shown to contain plagiarism are subject to penalties as outlined in the College’s
Misconduct Policy and Procedures.
www.imperial.ac.uk/about/governance/academic-governance/academic-policy/examsand-assessment/
Unsatisfactory Progress
Unfortunately, sometimes students struggle to make satisfactory progress in their study or
their engagement with their studies falls below our expectations. The College has a process
to identify and support students by reaffirming these expectations with an action plan. The
full details of this process, and the appeals procedure relating to it can be found at:
www.imperial.ac.uk/about/governance/academic-governance/academicpolicy/complaints-appeals-and-discipline
33
Academic Appeal Procedure
We have rigorous regulations in place to ensure assessments are conducted with fairness
and consistency, claims for mitigating circumstances have been considered reasonably and
in line with the regulations of the College, and that the decisions of the Boards of Examiners
maintain the integrity of our academic awards. In the event that you believe that you have
grounds to appeal these decisions, we have laid out clear and consistent procedures
through which appeals can be investigated and considered:
www.imperial.ac.uk/about/governance/academic-governance/academicpolicy/complaints-appeals-and-discipline
Arithmetic Marks Check
If you consider that there may have been an error in the adding up of your marks, you may
request an arithmetic mark check. Please note that this must be requested within 10 working
days of the official notification of your results (email from Results providing the link to eservice) using the procedure below. You may not request a marks check for a previous year
of study.
Please contact Joanna Owens, the MSc course administrator, should you wish to request an
arithmetic mark check.
General Data Protection Regulation (GDPR)
All staff and students who work with personal data are responsible for complying with GDPR.
The College will provide support and guidance but you do have a personal responsibility to
comply.
In line with the above please see the College’s privacy notice for students which form part of
the terms and conditions of registration with the College.
https://www.imperial.ac.uk/media/imperial-college/administration-and-supportservices/registry/academic-governance/public/academic-policy/admissions/ICL--Privacy--Notice-for-Students-and-prospective-students.pdf
Student Complaints
The College strives to ensure that all students are well supported in their studies and receive
a good experience of their programme and the wider College activities. If you feel that your
experience has not lived up to these expectations the College has an agreed Students
Complaints process through which your concern can be investigated and considered.
If you have any concerns about your experience at the College and have been unable to
address these informally, you should contact Student Complaints who can provide advice
about what is the appropriate way to seek to resolve this at:
student.complaints@imperial.ac.uk
www.imperial.ac.uk/about/governance/academic-governance/academicpolicy/complaints-appeals-and-discipline
34
Student Disciplinary Procedure
The College has the right to investigate any allegation of misconduct against a student and
may take disciplinary action where it decides, on the balance of probabilities, that a breach
of discipline has been committed. The general principles of the Student Disciplinary
Procedure are available on the College website:
www.imperial.ac.uk/admin-services/secretariat/collegegovernance/charters/ordinances/students/
Intellectual Property Rights Policy
For further guidance on the College’s Intellectual Property Rights Policy is available on the
College website:
www.imperial.ac.uk/research-and-innovation/research-office/ip/ip-policy/
Further information about the Imperial Enterprise Lab can be found at:
www.imperial.ac.uk/students/enterprising-students
www.imperialenterpriselab.com/support/experts-in-residence
Use of IT Facilities
ICT has prepared a useful, informative and engaging online welcome pack for new students
to get to grips with key IT resources at the College. With the increase in remote teaching and
learning, ICT understand how important it is to provide robust and easy to use services that
support our students learning experience at the College.
Please do use the following resources in your welcome communications:
•
The ICT resources for new students website has been updated with key information
including details on how to activate your College account, get connected to College
services, access learning tools such as Blackboard, Panopto, MS Teams and how to
access software for you course.
•
There is an ICT Support YouTube playlist consisting of 17 helpful “how to videos”
covering a broad range of topics from “how to use applications on Office 365” to “how
to use the printers” when on campus.
•
New students can learn how to remotely access library journals, their saved files,
software and much more by following guidance on our access IT resources
remotely web pages.
•
The College’s Inclusive Technology web pages provide information on software and
other applications that students can use to improve their study efficiency. There are
useful tools for note taking, revision and time management.
•
The Office 365 web pages are a good starting point for students to learn about Office
365, features and applications that are available at the College and how it can benefit
them.
•
IT security is very important. Awareness of potential scams and an understanding of
how to stay safe online can go a long way in protecting students and the College
from possible cyber-attacks. Follow our Be Secure web pages for more information.
These web pages will be updated by September with new content, visuals and
35
videos. There is also a Security YouTube playlist consisting of 6 videos covering
various important security information.
View the Conditions of Use of IT Facilities:
http://www.imperial.ac.uk/admin-services/ict/self-service/computers-printing/staffcomputers/conditions-of-use-for-it-facilities/
36
8.
Well-being and Advice
In your department
Your department has a system of academic and pastoral care in place to make sure you have
access to the appropriate support throughout your time at Imperial.
Your Postgraduate (Taught) Senior Tutor
Your Personal (Taught) Senior Tutor is your first point of contact for pastoral support and
advice. You can arrange to have a meeting with them at any time during your studies (although
most Postgraduate (Taught) Senior Tutors will have set office hours or may require you to
make an appointment).
If necessary, they will direct you to an appropriate source of support.
The Postgraduate (Taught) Senior Tutor for MSc Metals and Energy Finance students in Earth
Science & Engineering is Gareth Roberts (gareth.roberts@imperial.ac.uk).
Departmental Disability Officers
Departmental Disability Officers are the first point of contact in your department for issues
around disability. They can apply for additional exam arrangements on your behalf and will
facilitate support within your department.
Your Departmental Disability Officer is:
Gareth Roberts
020 7594 7363
gareth.roberts@imperial.ac.uk
More information on Departmental Disability Officers is available at:
www.imperial.ac.uk/disability-advisory-service/support/ddos
37
More information about how to request additional arrangements for exams if you have a
disability is available at:
www.imperial.ac.uk/student-records-and-data/for-current-students/undergraduate-andtaught-postgraduate/exams-assessments-and-regulations/additional-exam-arrangements-inrespect-of-disability
www.imperial.ac.uk/student-records-and-data/for-current-students/undergraduate-andtaught-postgraduate/exams-assessments-and-regulations/additional-exam-arrangements-inrespect-of-disability
Your Union
All Imperial students automatically become members of Imperial College Union when they
register at the College. The Union provides a range of independent support.
Imperial College Union Advice Centre
The Union’s advisers are on hand to provide free, confidential, independent advice on a wide
range of welfare issues including housing, money and debt, employment and consumer
rights, and personal safety.
www.imperialcollegeunion.org/advice
Student representatives
Imperial College Union operates two Representation Networks of over 600 elected student
representatives – the Academic Representation Network and the Wellbeing Representation
Network. Reps represent the voice of students and can direct you to internal and external
support services. The Union’s Liberation Officers also work to make sure that the views of
under-represented and interest groups are heard at the College.
If you have any feedback about issues in your department relating to academic or wellbeing
issues, you can speak to one of your student representatives.
www.imperialcollegeunion.org/your-union/your-representatives/a-to-z
Student Hub
At the Student Hub, you can access advice about accommodation, admissions and financial
support and get help with international student enquiries, questions about student records,
and exams.
www.imperial.ac.uk/student-hub
Student Support Zone
If you have moved home to take up your place at Imperial you will need to register with a new
doctor (also known as a General Practitioner or GP) so that you can access NHS healthcare.
It’s important that you register with a doctor soon after you arrive – don’t wait until you are
sick, as this could delay your access to treatment.
Student Support Zone has lots of information about the resources available at Imperial and
beyond to help you to stay healthy and happy. It’s a great place to start when you’re looking
38
for some support – it covers advice about housing and money, health, wellbeing and
maintaining a good work-life balance, and provides the details of who you can contact if you
need some extra support.
www.imperial.ac.uk/student-support-zone
Useful support contacts
Health and wellbeing
Imperial College Health Centre
40 Prince’s Gardens, South Kensington Campus
020 7584 6301
imperialcollege.hc@nhs.net
www.imperialcollegehealthcentre.co.uk
Imperial College Dental Centre
Prince’s Gardens, South Kensington Campus
020 7589 6623
www.imperialcollegedental.co.uk
Student Counselling and Mental Health Advice Service
020 7594 9637
counselling@imperial.ac.uk
www.imperial.ac.uk/counselling
Multi-Faith Chaplaincy Service
Chemistry Building, South Kensington Campus
chaplaincy@imperial.ac.uk
www.imperial.ac.uk/chaplaincy
Disability Advisory Service
Room 566, Level 5, Sherfield Building, South Kensington Campus
020 7594 9755
39
disabilities@imperial.ac.uk
www.imperial.ac.uk/disability-advisory-service
International students’ support
Centre for Academic English
Level 3, Sherfield Building, South Kensington Campus
english@imperial.ac.uk
www.imperial.ac.uk/academic-english
International Student Support team
020 7594 8040
www.imperial.ac.uk/study/international-students
Careers
Careers Service
Level 5, Sherfield Building, South Kensington Campus
020 7594 8024
careers@imperial.ac.uk
www.imperial.ac.uk/careers
ICT and software
ICT Service Desk
Central Library, South Kensington Campus
020 7594 9000
www.imperial.ac.uk/ict/service-desk
Software shop
www.imperial.ac.uk/admin-services/ict/self-service/computers-printing/devices-andsoftware/
40
9.
Student Records and Data
The Student Records and Data Team are responsible for the administration and
maintenance of the student records for all students studying at the College. This includes
enrolments, programme transfers, interruption of studies, withdrawals and processing of
examination entry for research degree students. The team also use this information to fulfil
reporting duties to the Student Loans Company, Transport for London and the UKVI, as well
as other external bodies.
The Team is responsible for the processing of student results and awards on the student
record system as well as the production and distribution of academic transcripts and
certificates of award.
The Student Records and Data Team produce a variety of standard document requests for
both current and previous students including council tax letters, standard statements of
attendance and confirmation of degree letters.
Student records and examinations
+44 (0)20 7594 7268
student.records@imperial.ac.uk
Degree certificates
+44 (0)20 7594 8037
certificates@imperial.ac.uk
41
10.
Work-life Balance
The pace and intensity of postgraduate study at Imperial can be demanding so it’s important
to find time for outside interests.
Imperial College Union
The Union’s range of 380+ student-led clubs, societies and projects is one of the largest of
any UK university, opening up lots of ways for you to enjoy your downtime.
www.imperialcollegeunion.org/about-us
Move Imperial
Imperial College has a wide range of sports and activities on offer that cater for all standards
and abilities. We have a recreational activity offer, competitive sports teams and an elite sport
programme. We are dedicated to ensuring we have a diverse, inclusive and exciting offer for
all.
Whilst we are closely monitoring government advice, we are also beholden to the overarching
College strategy of a phased return to campus and a reduction in on-campus activity until at
least the beginning of the 2020-21 academic year.
More information about Imperial student memberships and updates to our services can be
found at:
www.imperial.ac.uk/ethos/memberships/students
With an annual fee of £30 you will get use of the gym and swimming facilities on our
campuses.
www.imperial.ac.uk/sport
We have a huge collection of online resources, home workout videos, healthy recipes and
playlists available to all as part of our MoveFromHome campaign, more information can be
found at:
www.imperial.ac.uk/sport/movefromhome
42
11.
Student feedback and representation
Feedback from Students
The College and Union is committed to continually improving your education and wider
experience and a key part of this is your feedback. Feedback is thoroughly discussed by your
student representatives and staff.
Student Representation
Student Representatives are recruited from every department to gather feedback from
students to discuss with staff. More information about the role, and instructions on how to
become an academic representative, are available on the Imperial College Union (ICU)
website.
www.imperialcollegeunion.org/your-union/your-representatives/academicrepresentatives/overview
Society of Petroleum Engineers
The Society of Petroleum Engineers (SPE) is the largest individual-member organization
serving managers, engineers, scientists and other professionals worldwide in the upstream
segment of the oil and gas industry. Its purpose is to take charge of promoting the insertion of
the students into the world of petroleum engineers.
The SPE committee provides a fantastic opportunity for our students to be represented and
heard. It consists of positions such as the President, Vice-President, Treasurer and Social
Secretary, all of whom are elected democratically by the students through elections. This
encourages collaboration between students in deciding field trips, maintaining industry links
with companies, and making a tangible difference to the running of the course. Further
information about the SPE can be found on our website.
https://www.imperial.ac.uk/earth-science/prosp-students/pg-courses/opportunities-inlondon/spe/
Staff-Student Committee
Staff-Student Committees are designed to strengthen understanding and improve the flow of
communication between staff and students and, through open dialogue, promote high
standards of education and training, in a co-operative and constructive atmosphere. College
good practice guidelines for staff-student committees are available here:
www.imperial.ac.uk/about/governance/academic-governance/academic-policy/studentfeedback
We hold a Staff-Student committee every year. This provides students with the opportunity to
express how they feel the course has been run directly with both academic and administrative
staff in person. We welcome and value the views of our students and always strive to consider
these in deciding how to run the course.
43
12.
Student Surveys
Your feedback is important to your department, the College and Imperial College Union.
Whilst there are a variety of ways to give your feedback on your Imperial experience, the
following College-wide surveys give you regular opportunities to make your voice heard:
•
•
PG Student Online Evaluation (SOLE) module/lecturer survey or departmental
equivalent
Student Experience Survey (SES)
The PG SOLE module/lecturer survey (or equivalent for your department) runs at the end of the
autumn and spring terms. This survey is your chance to tell us about the modules you have
attended and the lecturers who taught them.
The Student Experience Survey (SES) is an opportunity to give your views on your experience
beyond the lecture theatres or labs. This survey will cover a range of College services and on
the Imperial College Union.
All these surveys are confidential and the more students that take part the more representative
the results so please take a few minutes to give your views.
The Union’s “You Said, We Did” campaign shows you some of the changes made as a result of
survey feedback:
www.imperialcollegeunion.org/you-said-we-did
The Union’s response to surveys can be found here:
www.imperialcollegeunion.org/your-union/your-representatives/responses
If you would like to know more about any of these surveys or see the results from previous
surveys, please visit:
www.imperial.ac.uk/students/academic-support/student-surveys/pg-student-surveys
For further information on surveys, please contact the Registry’s Surveys Team at:
surveys.registrysupport@imperial.ac.uk
44
13.
Course Structure and Assessment
Course Module Description
Accreditation
The degree is registered as part of the "European Credit Transfer System" (ECTS). The
return is given below, which is also a useful overview of the different elements that make up
the programme. ‘Total hours’ refers to the estimate of time needed to meet the academic
requirements of the 50-week programme, including formal contact teaching time.
Programme Title: MSc in Metals and Energy Finance
Programme Code: Registry for details
Overall
Course
length
Year
Total Hours spent on
Element
Course Elements
Explanation of element components. Must not
fail more than two examination papers (out of the
nine)
ECTS
Allocation
Element 1: Management & Business and Quantitative Finance Examinations
Management & Business Examination
Modules
Accounting paper (2 hours)
Management: Part 1 - Management of Projects,
Markets & Supplies paper (3 hours)
(24%)
225
9
300
13
Management: Part 2 - Strategic Management (3
hours)
Quantitative Finance Examination Modules
Derivatives paper (3 hours).
Investment and Portfolio Management 2 papers
(3 hours)
Mathematics for Finance paper (3 hours)
Element 2: Petroleum & Mineral Geoscience and Project Evaluation Examinations
(24%)
Petroleum & Mineral Geoscience Examination
Modules
Mineral Deposits (2 hours)
200
8
250
10
Petroleum Engineering (1 hour)
Petroleum Geology (1 hour)
Project Evaluation Examination Modules
Metals & Energy Project Appraisal and Finance,
Resource Evaluation & Mining Engineering
paper (3 hours)
Minerals Engineering. Extractive Metallurgy
paper (2 hours)
Element 3: Dissertation, Supplementary Mathematics, Language and Excursions
Language or Maths Module
Choice of Spanish, French or Italian.
Assessment through a Viva voce, coursework
and test or supplementary mathematics
100
4
475
18
700
28
2250
90
Excursion to Wessex and South Africa Course
Work Module
Field exposure to petroleum systems and active
energy and metal operations. Write-up presented
in two extended reports
Dissertation
Independent research undertaken over 10 weeks
during the summer
Total
45
Accreditation – Institute of Material, Minerals & Mining (IoM3)
Both the MSc in Metals & Energy Finance and MSc in Petroleum Engineering are accredited
by the Institute of Material, Minerals & Mining (IoM3) who act for the UK Engineering Council
so that graduates qualify for CEng (Chartered Engineer).
Those of you who are interested in applying to become Chartered Engineers and join the IoM3
as student members can do so on graduation from your MSc. Providing you have the
appropriate professional experience you can simultaneously apply for corporate membership
of the IoM3 who will then process a separate application to be registered as a Chartered
Engineer. For those of you who need to build up the necessary experience before being
eligible for CEng you can transfer from student to Affiliate membership on completion of the
degree.
More details can be obtained from the Accreditation Manager, Emily Drury who can be
contacted at: emily.drury@iom3.org
Module Summary
Autumn Term
• Accounting
• Cash Flow Modelling
• Foundation Mathematics
• Mathematics for Finance
• Mineral Deposits Studies
• Petroleum Engineering
• Petroleum Geology
• Language Option (if applicable)
• Investment and Portfolio Management
Spring Term
• Management of Projects, Markets and Supplies
• Metals and Energy Project Appraisal and Finance
• Minerals Engineering
• Resource Evaluation
• Extractive Metallurgy
• Strategic Management
• Derivatives
• Language Option (if applicable)
E-learning & Blended Learning Methods
The Business School deliver their teaching with the support of their Student Communications
Hub. This the Business School in-house Virtual Learning Environment (VLE) which all course
messaging, materials and lecture recordings can be viewed. Teaching in the Department of
Earth Science and Engineering is delivered with the support of the BlackBoard VLE and most
lectures are recorded using the Panopto and MS Teams system.
For a two-month period in the Spring term students will be able to access an EduMine eLearning module through the VLE (www.edumine.com) which will provide them with an
introduction to modelling project finance and cover the critical issues associated with the debt
financing of mining projects. A fully intergrated IC-MinEval-generated spreadsheet model is
included in the module, together with interactive review sessions.
46
Overview
The reason the term “Metals” in the MSc Metals and Energy Finance degree was that we go
well beyond just mining but also embrace the range of different elements present in the
periodic table. Mining is just one step on the way through to extractive metallurgy. The
mining industry is also inherently more diverse (gold’s monetary role through to lithium’s
developing industrial uses) compared to the mono-economic characteristic of oil and gas. We
also incorporate minerals and their down-stream bulk processing to produce industrial metals
including ferroalloys. This has to be reflected in the balance of the technical teaching
programme.
The emphasis is also on “Energy”, we can embrace coal as well as unconventional petroleum,
not just oil and gas. It was, however, recognised that Anthabasca oil sands projects are for
example essentially mining operations although classified as petroleum projects. We also
cover the role of coal mining in carbon sequestration and methane production. The focus is
on energy, mining is a part of that mix.
We provide a full course in petroleum and mineral geoscience including a field trip to Wessex
to look at oil and gas systems. There is also an overview of petroleum engineering and the
course includes an in-depth treatment of hydrocarbon fiscal regimes based on both tax and
royalty and production sharing contracts. We also cover the quantitative treatment of the
approach used for calculating recoverable petroleum reserves and their associated
uncertainty based on Monte-Carlo Simulation.
The natural resources investment community often make little distinction between mining and
petroleum – both sectors re-non-renewable commodity-based and are associated with
products that have over the last few years demonstrated historically high levels of price
volatility. There are of course similarities and differences and in reducing risk it is important to
recognise the differences. The obvious point to make in considering similarities and
differences is that metals do not migrate during extraction, unlike petroleum. This means that
petroleum simulation modelling resource estimation techniques must be based on fluid
mechanics. Ore has to be physically moved from in situ to final concentrate using mechanical
means.
The difference in production profiles are also fundamental with mining operation designed to
have a ramp-up that for block caving can take years, maintaining cruising altitude up to
depletion and then a drop off the cliff. Petroleum has almost immediate lift off under pressure,
production is limited by well capacity and then there is a long period of decline. The slope of
these decline curves is where the role of petroleum engineering and in managing well injection
becomes important.
The difference in production profiles for petroleum versus mining have on the design of
financial models are significant as the concept of economic limit on a petroleum decline curve
does not apply to a mining project. The different fiscal regimes that apply must also be
correctly modelled – tax and royalty for mining with multiple stakeholders and production
sharing contracts for petroleum. PSCs are usually customised for individual projects.
Understanding the financial risk and uncertainty that arises is core component of the degree
and needs to be treated in a quantitative way which is why the MSc MEF degree is delivered
as a combined Faculty of Engineering/Business School programme where these concepts are
treated formally using mathematical notation in the quantitative finance teaching delivered by
the Business School. Dissertations prepared by the students recognise the link between
inherent uncertainty associated with resource estimations for petroleum and minerals using a
quantitative approach, and that these are integrated into the stochastic concepts covered in
the quantitative finance lectures delivered by the Business school.
47
The degree also covers Transitioning to Business Leadership Roles, Sustainable
Development and the Moral Case for Mining, Social Licence and Engineering Ethics in
Practice. This is where a qualitative approach is needed to assess Risk which is the same for
both oil and gas and mining.
48
Autumn Term Course Modules
Management and Business Module: Accounting
Staff Teaching Course:
Name:
Libon Fung
Room:
Extension:
E-mail:
libon.fung1@imperial.ac.uk
Course Aims:
The course aims to contribute to the development of the participants’ managerial potential by
explaining the techniques of financial and management accounting and examining their
relevance to the broader issues of management evaluation and decision-making in the generic
manufacturing and service sectors.
Knowledge Objectives:
During the course, participants should develop the ability to:
•
•
•
•
•
•
distinguish between the different users of accounting data and their informational
requirements, including information about Corporate Social Responsibility and
Governance, and Business Sustainability
recognise and apply different accounting conventions, formats and practices
identify the uses and shortcomings of published financial accounts and command a
basic knowledge of the underlying accounting information system
evaluate the costing principles underlying the classification and processing of cost
accounting data
distinguish between the informational requirements of short-run and long-run financial
decision techniques, and appreciate the contribution of management accounting data
to the satisfaction of these requirements
specify the organisational context of management accounting and evaluate strengths
and limitations of management accounting data in improving organisational
effectiveness.
Skill Objectives:
Participants should develop the ability to:
•
•
•
•
•
•
read and make sense of companies’ annual reports and other published corporate
material
evaluate the financial situation, performance and potential of an organisation using
ratio and strategic analyses and interpretation of the annual report and other published
corporate material, referring also to the company’s impact on its environment
evaluate the impact of using different accounting policies (e.g. in depreciation,
impairment and stock valuation) upon performance measurement
design budget processes and produce simple projected cash budgets
address essential issues regarding manufacturing and service firms’ performance
devise and apply appropriate techniques to the solution of simple short and long-run
financial decision problems by selecting and utilising relevant information
49
Learning Objectives:
Upon completion of the course, participants will have developed:
•
•
•
critical skills in relation to the use of information for the purpose of organisational
performance evaluation
the ability to participate in managerial decision processes where accounting based
information may be an important input
the ability to comprehend any Finance course in future studies
Teaching Methods:
All students should have completed the Accounting Primer course before starting. Thereafter,
the course is based upon pre-lecture study, lectures, support classes, course notes, group
studying and further reading. Participants will be encouraged to use computers in practising
their acquired skills and to work in groups.
Key texts:
The textbook is offered as part of a two part package, i.e. textbook and web card that enables
access to the companion website. Please, see the link below:
http://www.pearsoned.co.uk/Bookshop/detail.asp?item=100000000273209
Examination:
•
•
Group Report (30%)
Two hour unseen examination (70%). The questions will test both computational and
analytical understanding of the course material. Examination as part of the
“Management and Business” Module
50
Management and Business Module: Cash Flow Modelling
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Dennis Buchanan
ESE 2.31B
+44(0)2075946440
d.buchanan@imperial.ac.uk
Course Aims:
The aim of the course is to demonstrate the relationship between cash flows and financial
account and how to generate a financial model for a natural resource project. This includes
consideration of how the Balance Sheet and Profit and Loss account will be derived from the
cash flows, with tax provisions linked to the Profit and Loss account. The role of output
modules will be covered to include the base case discount cash flows, as well as key financial
ratios and performance indicators such as NPV, IRR payback and maximum cash exposure.
The approach to undertaking sensitivity analysis on key variables will be considered.
Course Outline:
The programme will be delivered as the following modules:
•
•
•
•
•
Financial Modelling
Discounted cash flows. Time value of money. Discount rates. Indicators of
economic viability. Maximum cash exposure. Sensitivity analysis. Rate of
production, effect of changing cut-off grade and optimisation of NPV.
Workshop
DCF exercise based on annuity tables. Dilution. Recovery. Depreciation.
Working Capital. Review of spreadsheet-based solution.
Case History of a Gold Operation
Setting up base case. Optimisation of NPV. Determination of cut-off grade.
Sensitivity analysis. A demonstration of IC-MinEval. Valuation compared to
acquisition cost.
Case History of an Oil and Gas Project
Project schedule. Volumetrics and segment production. Fiscal regime. Capital
and operating costs. Prices basic concepts of financial modelling will be
revisited but from the petroleum perspective.
Project Finance
Capital Asset Pricing Model. Relationship between cost of debt, taxation,
Balance Sheet, Profit and Loss account and cash flow. Calculating the cost of
debt and equity. Determining the weighted average cost of capital and optimum
level of gearing. Debt performance indicators.
Key texts: Course text book
Examination: Concepts will be assessed in the Management and Business Examination
module papers.
Principles examined in both the “Management and Business” and “Project Evaluation”
Modules
51
Management and Business Module: Foundation Mathematics
(Economics and Science Group)
Staff Teaching Course:
•
•
•
•
•
Seminars
Name: Prof Stephen Neethling
Room: 2.35
Tel: +44(0)2075949341
E-mail: s.neethling@imperial.ac.uk
Course Aims:
To provide basic support to students who have limited graduate level mathematics.
52
Quantitative Finance Module: Mathematics for Finance
(Business School with MSc Finance)
Staff Teaching Course:
•
•
•
Name: Paymon Khorrami
Room:
E-mail: p.khorrami@imperial.ac.uk
Course Aims:
To introduce students to the mathematical techniques used in asset pricing, optimal portfolio
allocation, and risk management.
Course Outline:
•
•
•
•
Probability Theory: Probability spaces, Events, Random variables, Conditional
distributions, Expectations, Independence.
Arbitrage Theory in Finance: Hedging in complete and incomplete markets,
Arbitrage, State prices, Risk-neutral valuation, Pricing in dynamically complete
markets
Discrete Time Processes: Trees and filtrations, Law of iterated expectations,
Markov processes, Martingales
Continuous Time Finance: Brownian motion, Ito’s lemma, Stochastic differential
equations, Black-Scholes partial differential equation
Key texts:
•
Steven E Shreve, Stochastic Calculus for Finance. II Continuous-Time Models, 1st ed.
2004. Corr. 2nd printing 2010
Supplementary reading:
•
•
•
Anton, H. (2000). Elementary Linear Algebra (8th edn). JohnWiley & Sons.
Binmore, K. and Davies, J. (2001). Calculus: Concepts and Methods. Cambridge
University Press.
Mood, A. M., Graybill, F. A. and Boes, D. C. (1974). Introduction to the Theory of
Statistics (3rd edn). McGraw-Hill Series in Probability and Statistics. McGraw-Hill.
Examination:
Three-hour closed book exam.
53
Petroleum and Mineral Geoscience Modules: Mineral Deposit Studies
Staff Teaching Course:
•
•
•
Name:
Room:
E-mail:
Dr Carol Halsall
ESE
c.halsall@imperial.ac.uk
Course Aims:
To provide an overview of the geological setting of minerals and metals which provide the
focus for the mining industry
Course Outline:
Plate tectonic setting of mineral deposits and their classification. Role of fluids in the
formation of base and precious metal deposits. Primary magmatic ore deposits. Sedimentary
ore deposits including coal petrography. Industrial minerals. Mineral exploration
Key texts:
•
•
•
•
•
Mineral resources, economics and the environment, Kesler, S.E, MacMillan (1994)
Ore geology & industrial minerals, Evans, A.M. (3rd edition) Blackwell (1993)
Ore deposit models, Vols 1 and 2, Roberts, R.G. & Sheahan, P.A. (eds) Sheahan, P.A.
& Cherry, M.E. (eds), Geoscience Canada Reprint Series 3 & 6 (1988)
Resources of the earth: origin, use, and environmental impact (3rd Edn), Craig, J.R.,
Vaughan, D.J. & Skinner, B.J, Prentice Hall (2001)
An introduction to ore-forming processes, Robb, L. Blackwell
Examination:
Two-hour closed book examination as part of the “Petroleum and Mineral Geoscience”
module.
54
Petroleum and Mineral Geoscience Modules: Petroleum Engineering
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Martin Blunt
ESE 2.38A
+44(0)2075946500
m.blunt@imperial.ac.uk
Course Aims:
Provide a basic introduction to petroleum engineering
Course Outline:
1. Reservoir drive mechanisms and definition of commonly used oil industry terms
2. Reservoir pressure regimes
3. Material balance for gas reservoirs, including P/Z plots and analysis for natural water
drives.
Key texts:
•
•
•
•
•
Fundamentals of Reservoir Engineering, L. P. Dake, Elsevier, (1991), ISBN 0-44441830-X.
Petroleum Engineering Principles and Practice, J. S. Archer and C. G. Wall, Graham
and Trotman, (1986), ISBN 0-86010-665-9.
Applied Petroleum Engineering, B. C. Craft and M. F. Hawkins, Prentice Hall, (1991),
ISBN 0-13-039884-5.
Waterflooding, G. P. Willhite, Society of Petroleum Engineers, (1986), ISBN 1-55563005-7.
The Reservoir Engineering Aspects of Waterflooding, F. F. Craig, Jr., Society of
Petroleum Engineers, (1971), ISBN 0-89520-202-6.
Examination:
One-hour closed book examination part of the “Petroleum and Mineral Geoscience” module.
55
Petroleum and Mineral Geoscience Modules: Petroleum Geology
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Dr Gary Hampson
ESE 1.42
+44(0)2075946475
g.hampson@imperial.ac.uk
Course Aims:
1. To present an overview of the fundamentals of Earth Science
2. To outline the geological parameters and processes controlling oil and gas
accumulations
3. To introduce the topic of Petroleum System Analysis
4. To demonstrate the role of Earth Sciences in petroleum exploration: acquisition and
interpretation of data
5. To show the types and global distribution of “conventional reserves”
6. To review the definitions of conventional reserves and reserve estimation methods
7. To introduce the concept of uncertainty, risk and risk analysis in exploration projects
8. To review “unconventional resources”
9. To provide an overview of the petroleum systems of the North Sea Basin
Objectives:
On completion of this module students should be able to:
(a) Identify and apply the principles of geology to controls on hydrocarbon generation,
migration, and accumulation.
(b) Identify and characterise the main petroleum rock types (sandstone, mudstone,
limestone and dolomite)
(c) Use and interpret key data relating the role of geology to petroleum exploration and in
the quantification of conventional resources.
(d) Understand the potential unconventional hydrocarbon resources and their likely impact
on future hydrocarbon supplies.
(e) Appreciate the impact of geology on reservoir thickness, quality, continuity, distribution,
subdivisions and established “flow units”.
(f) Understand how geological features influence effective appraisal, development and
managements of hydrocarbon fields.
(g) Recognise the importance of a multidisciplinary approach and integration of geological,
geophysical and petroleum engineering data in field development and production –
leading to an increased awareness of the relationships between the two MSc courses.
Prerequisites:
No prior knowledge of geology is required.
Duration:
18 hours of lectures and practical sessions during the Autumn term. Plus half day review
session in January.
Lecture syllabus (session plan)
56
1. Module Introduction
2. Earth Science 101
3. Concepts: Rock types
4. Clastics: Sandstones
5. Clastics: Mudstones
6. Unconventional Reservoirs
7. Carbonates and evaporates
8. Hydrocarbon: generation, maturation and migration
9. Concepts: Stratigraphy and structures
10. Exploration methods & Petroleum Systems
11. Play concepts, conventional reservoir classification & controls
12. Reserves – estimation, risk and uncertainty
13. North Sea Basin Case Study
14. Global perspectives
15. Review session, pre-Wessex Basin Excursion (beginning of Spring term).
To make the most of classroom contact hours suggested reading and short tasks will be set in
advance and for 30-60 minutes during non-contact hours. Blackboard will be used to support
independent study and revision.
Texts: (direction to relevant sections will be made during the module)
•
•
•
•
Gluyas, J. & Swarbrick, R. (2005), Petroleum Geoscience. Blackwell Science Ltd:
Oxford. Available as E-book from Imperial College Library.
Tiab, D. & Donaldson, E.C. (2012), Petrophysics - Theory and Practice of Measuring
Reservoir Rock and Fluid Transport Properties (3rd Edition). Elsevier. CHAPTER 2:
Introduction to Petroleum Geology. Available as E-book from Imperial College Library.
Selley, R C, 1997. Elements of Petroleum Geology (2nd edition). W H Freeman, New
York.
Stoneley, R, 1995. Introduction to Petroleum Exploration for Non-Geologists. Oxford
University Press.
57
Language Module
Those of you who have sufficient mathematics to derive full benefit from those components of
the programme that depend on good quantitative skills will be allocated to the Engineering and
Mathematics Group and follow the Spanish language option. If you happen to have either
good Spanish or are in fact fluent then the alternative likely to be offered is advanced Spanish,
French or Italian.
Spanish, French or Italian (Engineering Group)
Staff Teaching Course:
Department of Humanities
•
•
•
•
•
Seminars
Name:
Room:
Tel:
E-mail:
Almudena Sánchez-Villén
Sherfield
+44 (0)20 7594 8769
m.sanchez-villen@imperial.ac.uk
Course Aims:
Develop a basic proficiency in the use of a European language in a professional context.
58
Quantitative Finance Module: Investments & Portfolio Management
(Business School with MSc Finance)
Staff Teaching Course:
•
•
•
Name:
Room:
E-mail:
Marcin Kacperczyk
m.kacperczyk@imperial.ac.uk
Course Aims:
This course provides students with a critical understanding of important portfolio management
techniques used for investments and portfolio management by hedge funds, asset managers,
investment banks and other financial institutions. One of the strengths of the course is that it is
accompanied by case studies and realistic practical examples that students are asked to solve
each week using Matlab. Moreover the course covers pricing and predictability of a large
range of asset classes including equities, bonds, foreign exchange, commodities and hedge
funds. Students who have completed the course should be able to implement trading
strategies and portfolio construction methods in a wide range of assets including
Course Outline:
The course covers static portfolio theory, market efficiency, factor models, return predictability,
tactical and strategic asset allocation, term structure of interest rates, carry trades, covered
interest rate parity, spot-futures theorem and stock selection. Portfolio performance
measurement and the determinants of information ratio are discussed in the context of mutual
funds and hedge funds. Case studies include the asset allocation example of Harvard
Management Company. This course closely follows ‘Bodie, Kane and Markus’ to build a
thorough foundation in portfolio management.
Key texts:
•
Bodie, Kane and Markus (2008, 8th International Edition) “Investments”, McGraw-Hill
Examination:
•
•
Coursework (15%)
Three-hour closed book exam (85%)
59
Spring Term course Modules
Management and Business Module: Management of Projects, Markets and Supplies
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Dennis Buchanan
ESE 2.31B
+44(0)2075946440
d.buchanan@imperial.ac.uk
Course Aims:
The aim of the course is to address the increasing requirement by natural resource companies
to communicate complex technical issues to outside organisations as part of environmental
impact enquiries and applications for exploration and mining permits. The approach to
implementing a monitoring programme and compliance with environmental law and audits will
also be covered to provide an understanding of how risk can be assessed. The course is
deliberately schedule towards the end of the lecturing programme; It is specifically designed to
provide cross-links between what could otherwise be a "silo" structure to the taught part of
the MSc degree. The MPMS module brings together a range of different
components delivered in the separate teaching modules covered over the previous five
months with the aim of demonstrating interrelationships. Course Outline:
The programme will be delivered as the following modules:
•
Petroleum Resource Management System:
Quantifying Uncertainty in hydrocarbon production forecasts. Demonstration of
the approach needed in calculating recoverable reserves and their associated
uncertainty based on monte-carlo simulation and the application to the SPE
Petroleum Resource Management System. Demonstration and hands-on
workshop session of Crystal Ball-based Monte Carlo simulation on petroleum
systems to estimate recoverable reserves.
•
Constraints on Mineral resource Development
Environmental Review. Site visits. Impact assessment. Baseline conditions,
impacts and mitigation. Management and monitoring. Closure.
Permitting and planning enquiries
•
Metals Streaming
Comparison between different sources of funding for the development of a
mining project.
•
Exploration Management in the Petroleum Industry
Value creation in the petroleum industry and the oil and gas markets.
Petroleum targets and development of the production phase.
•
Petroleum Fiscal Models
Volumetrics and decline analysis. Oil and gas fiscal systems – concessionary
regimes and production sharing contracts. Oil and gas cash flow modelling –
economic limit concept. Petroleum Tax/Royalty, Interrelations between
technical parameters, estimates of revenue and impact on PSCs on project
investment returns.
•
Real option valuation
60
•
Unconventional Petroleum
Shale-gas, shale-oil, oil shales, tight sandstone gas and tar sands
Examination:
Three-hour examination as part of the “Management and Business” Module
61
Project Evaluation Module: Metals and Energy Project Appraisal and Finance
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Dennis Buchanan with contributions from industry
ESE 2.31B
+44(0)2075946440
d.buchanan@imperial.ac.uk
Course Aims:
The aim of the course is to provide a comprehensive guide to understanding the main factors
involved in securing the financial support for mining projects through equity, debt, or entering
into a joint venture. This involves addressing the underlying technical principles, applying
these to mineral projects and demonstrating how these influence the financial modelling.
Particular attention will be given to the treatment of key independent variables, such as grade
and metal price, dependent variables, such as grade-tonnage relationships, and the way these
influence the rate of mining, associated operating and capital costs, and the optimisation of
the NPV of a project. These will be compared with the corresponding factors involved in the
evaluation of oil and gas projects.
Course Outline:
The programme will be delivered as the following modules:
•
•
Nomenclature of documentation generated in mineral project development.
Stages of planning and Execution. Optimisation of NPV based on the time
value of money, the choice of cut-off grade on reserve block models and the
impact of operating and capital costs arising from economies of scale.
Feasibility Studies
Role of a pre-feasibility study. Scope of a full technical feasibility study. Role in
raising equity. Role in securing debt finance. Independent reviews.
•
Resource Estimation
Sampling practice and principles of uncertainty. Spatial control of sampling and
concepts of geological continuity. Grade and volume estimates. Determination
of optimum sampling density. Block modelling. Cut-off grades and ore body
modelling. Grade tonnage analysis. Reserve and resource definitions.
•
Mine Planning
Mining block model creation. Pit design and optimisation. Relationship between
costs and scale of mining. Mining dilution and recovery. Sampling on the scale
of mining. Proven and probable categories in operating mines. Metal
reconciliation from in situ resource estimation to metal produced.
•
Operating Costs
Contract mining. Organisational structure. Mining schedule. Fixed and variable
costs (power, labour and consumables).
•
Analysis of Risk and Uncertainty
62
•
Treatment of multivariant systems. Application to Monte Carlo simulation
techniques.
•
Tax and Company Structure
Tax models. Taxation agreements. Carry forward provisions. EPT. Royalties.
Depreciation allowances. Management accounts and audits.
•
Scenario Analysis. Workshop sessions.
o Base Metal project. Negotiating an off-take agreement and linked finance
for a project that produces a polymetallic concentrate.
o Net smelter returns and off-take agreements
o Diamonds
o Coal
Real Option Analysis
The use of financial models in real option analysis in mining projects.
•
Examination:
Part of the ”Project Evaluation” two-hour closed book examination.
63
Project Evaluation Module: Minerals Engineering
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Sevket Durucan
ESE 1.36
+44(0)2075947354
s.durucan@imperial.ac.uk
Course Aims:
This course aims to introduce the general principles of minerals extraction, mine planning and
design. Factors affecting the choice of a mining method and design, equipment used and
supporting operations are discussed. A general overview of environmental impacts associated
with minerals extraction is presented. Energy from solid fossil fuels and carbon mitigation
technologies introduced.
Course Outline:
1 Introduction to mining engineering: the choice between surface and underground
mining. Design considerations such as rock mechanics, geological features,
engineering design factors and geology/geometry.
2 Surface mining: surface mine design, surface mining operations such as drilling and
blasting, excavation and loading, transportation, storage and reclamation.
3 Surface mining methods: strip mining, terrace mining, open pit mining, dredging.
Equipment used and designed.
4 Underground mining: underground mine design, mining operations such as drilling,
explosives, loading and haulage, hoisting, drainage.
5 Underground mining methods: open stopping, room and pillar mining, sublevel
stopping, shrinkage stopping, cut-and-fill mining, sublevel caving, block caving, long
wall mining.
6 Mine planning and design: Computer applications in mine design
7 Mine ventilation and methane drainage. Energy from coalmine methane, abandoned
mines methane, coalbed methane and enhanced coalbed methane.
8 Environmental impacts of mining, environmental monitoring.
9 Solid fossil fuel power generation, carbon dioxide capture and storage.
Key texts:
•
•
•
•
•
Hartman, H.L.(ed.), Introductory mining engineering, Wiley, 2002.
Hustrulid, W.A., Underground mining methods handbook., SME, 1982.
Pfleider, E.P., Surface mining., SME, 1968.
SME Mining Engineering Handbook=, Two volumes. SME, 1992
McPherson, M.J., Subsurface ventilation and environmental engineering. Chapman &
Hall, 1993
Examination:
Part of the ”Project Evaluation” two-hour closed book examination
64
Project Evaluation Module: Resource Evaluation
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Anna Korre
ESE 1.41
+44(0)2075947472
a.korre@imperial.ac.uk
Course Aims:
This course aims to introduce students to the principles of minerals resource evaluation
starting with the basic principles of sampling and geological interpretation and particularly
focusing on the modern computer assisted resource and reserve estimation methods. The
lectures are supported by series of computer tutorials using the ISATIS geostatistical software
package.
Course Outline:
1. Basic statistics of sample data, bias detection, assessment of sample variance from
duplicate analysis, calibration experiments and models (Gy’s formulae).
2. Geological interpretation and conventional resource estimation methods.
3. Geostatistical principles. (spatial correlation, regionalised variables, the variogram,
models of anisotropy and variogram modelling, estimating the grades of individual
blocks from the variogram)
4. Kriging (ordinary, indicator kriging, cross-validation)
5. Assessment of dilution (sample variance – block variance, defining a drill grid)
6. Resource categorisation (error variance and confidence interval calculation)
7. Principles of geostatistical simulation.
Key texts:
•
•
•
•
•
•
•
•
•
Armstrong M., 1991. Basic geostatistics for the mining industry. Leuven.
Chiles, J.-P. and Delfiner, P., 1999. Geostatistics: modelling spatial uncertainty. Wiley
series in probability and statistics, John Wiley and Sons. Inc., USA
Company, Amsterdam, The Netherlands.
Deutsch, C.V. and A.G. Journel 1998. GSLIB: Geostatistical Software Library and
User’s Guide. Oxford University Press Inc.
Gy P., 1977. The sampling of particulate materials: theory and practise. Elsevier, The
Netherlands.
Isaaks, E. H. and Srivastava, R. M., 1989. An Introduction to Applied Geostatistics.
Oxford University Press, New York, USA.
Journel, A. G. and Huijbregts, C. J., 1978. Mining Geostatistics. Academic Press,
London, UK.
Wellmer, F.-W., 1998. Statistical Evaluations in Exploration for Mineral Deposits.
Springer-Verlag New York Inc.
Goovaerts P., 1997. Geostatistics for natural resources evaluation. Oxford University
Press, Inc.
Examinations: Part of the”Project Evaluation” two-hour closed book examination which
includes coursework assessment.
65
Project Evaluation Module: Extractive Metallurgy
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Stephen Neethling
ESE 2.35
+44(0)2075949341
s.neethling@imperial.ac.uk
Course Aims:
The course aims to introduce mineral processing and extractive metallurgy. There will be a
particular focus on the quantitative assessment of the performance of these processes.
Course Outline:
•
•
•
•
The course will introduce comminution, gravity separation, flotation and solid-liquid
separation. An introduction to pyro- and hydrometallurgical process will be included.
Aspects of waste treatment and sustainability will be covered.
How to carry out mass balances around processes and plants will be taught.
The course will then focus on mineral economics, discussing first the financial
relationship between the mineral processing and metal production stages and how this
can be optimised.
Objectives:
At the end of the course, students are expected:
1.
To have gained familiarity with the equipment, principles and techniques used to
separate minerals from their ores.
2.
To be able to carry out mass balances around minerals processing plants – Overall
metal recoveries and grades are a key factor in the financial viability of projects.
3.
4.
To have a grasp of mining sustainability concepts
To understand the economic relationship between mineral processing and metal
production, and its optimisation
Key texts:
•
Mineral Processing Technology (Wills)
Examination:
Part of the ”Project Evaluation” two-hour closed book examination
66
Management & Business Module: Strategic Management
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Dennis Buchanan
ESE 2.31B
+44(0)2075946440
d.buchanan@imperial.ac.uk
Course Aims:
The course aims to identify the investment opportunities that are being offered across the
whole spectrum of the mining cycle by relating this to the various funding options in the
progression from exploration through evaluation, pre-production development, development
and finally into production. The programme is will be delivered through a series of syndicate
and role-playing exercises aimed at enhancing inter-disciplinary communication skills. The
programme will be based on case histories of platinum-group metal projects and will be
supported by contributions by external experts from industry and financial services sector.
Course Outline:
The programme will be delivered as the following modules:
Funding Options for Juniors with Exploration Assets.
•
•
Briefing. Role of private placements and venture capital. Strategic value gained by
securing a joint venture partner. Criteria needed for an IPO. Applicable valuation
methods including comparable transactions and appraised value. Geological setting of
PGE deposits. PGE supply and demand including fuel cell technology and petroleum
refining.
Syndicate Exercise. Geological and technical background to PGE projects.
Formulation of exercise objectives.
Funding Options for Juniors with Projects Ready for Evaluation Drilling
•
•
•
Briefing. Aim admission process. Role of the NOMAD and Competent Person’s report.
Role of the Joint Venture. Valuation and use of Inferred Resources. Asset diversity.
Presentation of Projects to Potential Investors. Separate presentation of bids by teams
(to be video recorded). Announcement and justification of decision.
Briefing. Formulation of a Joint Venture agreement. Consideration of vend-in
conditions and link to valuation. Defining deliverables and the role of the feasibility
study. “Claw-back” agreements.
Funding Options at the Pre-development Phase
•
•
Briefing. Role of the full technical feasibility study. Technical constraints on
downstream smelting and refining of PGE. Role of Debt Finance. Analysis of Accounts.
Criteria needed to secure Project Finance and limited recourse debt. Relationship
between equity and debt in enhancing shareholder value. Right issues. Financial
Engineering. Hedging. Permitting.
Syndicate Exercise. Formulation of optimum gearing for the development of a PGE
projects.
67
Funding Options at the Development Phase
•
•
Acquisition using structured debt. Use of exchange listed convertible bonds. Use of
structured corporate loans. Analysis of Accounts.
Negotiation of Capital Structure. Monitored role-playing exercise between groups
acting as an investment bank, a major mining company and technical consultants.
Transitioning to Business Leadership roles
•
•
•
Presentation skills
Funding Options for Juniors with Exploration Assets
Share structure, Option, Dilution, Scenarios on the movement of share price.
Examination:
Three-hour examination as part of the “Management and Business” Module.
68
Quantitative Finance Module: Derivatives
Staff Teaching Course:
•
•
•
•
Name:
Room:
Tel:
E-mail:
Prof Harjoat Bhamra
49077
h.bhamra@imperial.ac.uk
Course Aims:
This course develops and applies the techniques learnt in Investments and Portfolio
Management to the pricing of a range of financial derivatives and to the determination
interest rates at different maturities.
Course Outline:
• Determination of Forward and Future Prices.
• Options: Mechanics of Option Markets
• Options: Trading Strategies.
• Martingale Measure
• Black-Scholes-Merton Model
• Volatility Smiles
• Swaps
• Interest Rates Derivatives
• Credit Derivatives
Key texts:
•
John Hull (2006) “Options, Futures, and Other Derivatives”, Pearson Prentice Hall,
Sixth Edition.
(The book is readily available to all students from the central library).
Examination:
•
•
Coursework (20%)
3-hour closed book exam (80%)
69
Plagiarism and Cheating
It is important that students learn about how to properly attribute and acknowledge the work,
date and ideas of others. Plagiarism is scientific misconduct, and students whose work is
shown to contain plagiarism are subject to penalties. Hard copies of the “Cheating Offences
Policy and Procedures” guidelines are provided in the Appendix to this course handbook.
These are also available at the following url:
www.imperial.ac.uk/student-records-and-data/for-current-students/undergraduate-and-taughtpostgraduate/exams-assessments-and-regulations/plagiarism-academic-integrity--examoffences/
Plagiarism advice for students can be found on the Library website at:
http://www.imperial.ac.uk/admin-services/library/research-support/plagiarism-awareness-forresearchers/
TurnitinUK Plagiarism Detection Service at Imperial College London
TurnitinUK is an online plagiarism detection service that enables plagiarism comparison.
Your submitted work will be scanned via TurnitinUK a threshold of 5% or more of text shown
to have been derived from the internet without the source having been indicated will be
considered as an indication of potential plagiarism. Once loaded, the system will also pick up
significant matches between separate reports from the same assignment. Particular attention
will be paid to cases of reports with matches of over 30% or those under 30% with significant
matches to once source (e.g. >10%)
Plagiarism Awareness Online Course
The Graduate School’s online Master’s Plagiarism Awareness course is compulsory for all
Master’s students. The course provides students with guidance and information about proper
citation and attribution of their writing. Successful completion of the course will be recorded by
the Graduate School and Departments will be informed when their students have completed it
as part of the regular Graduate School Departmental reports. Completion of the course will be
marked on student transcripts.
All Master’s students will be required to self-enrol onto the course which is available via
Blackboard. Instructions on how to enrol onto the course can be found on the Graduate
School’s Plagiarism Awareness Online Course webpage:
http://www.imperial.ac.uk/study/pg/graduate-school/students/masters/professionaldevelopment/plagiarism-online/
The course will take approximately 1.5 hours to complete but can be saved and returned to at
a later date. There is no limit to the amount of times you can take the course – it can be
accessed anytime, so there will always be an opportunity to refresh understanding.
Please note that you will be required to complete this online course in the first two
weeks of study and we require 100% compliance.
70
CHEATING – PLEASE READ THIS SECTION WITH PARTICULAR CARE
In order to protect the integrity of your degree the College takes a very firm line on cheating.
Please see attached College Examination Regulations:
www.imperial.ac.uk/about/governance/academic-governance/regulations
Details of an incident where anyone is found cheating in an examination has to be reported to
College. Please be aware that postgraduate students are expected to understand the
consequences of their actions and even the moderate penalty for intent to deceive can mean
that completed assessment and examination process has to be repeated in the following
academic year. Furthermore the grades achieved may be capped at the pass mark.
It is important that you learn how to properly attribute and acknowledge the work, data and
ideas of others. Plagiarism is scientific misconduct, and students whose assessments can be
shown to contain plagiarism are subject to penalties as outlined in the College’s Cheating
Offences Policy and Procedures.
Exam offences
Exam offences fall into two main areas. This may be an attempt to gain academic advantage
(cheating) or acting is a way that is potentially disruptive to others in the same venue
(sometimes referred to as a technical offence). Examples of cheating can include behaviour
such as bringing unauthorised material into an exam, attempting to communicate with others
apart from the invigilator, using an unauthorised electronic device, trying to remove
examination material without permission, taking an exam for someone else or getting
someone else to take an exam for you. Examples of being potentially disruptive includes
having an electronic device that has not been fully turned off or failing to follow a reasonable
instruction of the invigilators.
71
14.
Course Assessment and Examinations
Academic Feedback
The College policy of academic feedback to postgraduate taught students is to promote 10
working days as best practice timescale and this is the timescale that can be expected. If
feedback is not provided by staff within two weeks of submitting written course work and you
have not been notified of a delay, we ask students to notify the Course Director by e-mail. All
formal College exchanges must be undertaken through your College not personal e-mail.
Evaluation Guidelines
Master’s students are required to pass every element of their course with an aggregate
mark of at least 50%, to ensure compliancy with ECTS
1. Achieve an aggregate score of 50% across each of the following two examination
elements:
• Management and Business and Quantitative Finance Element: consisting of the
following five examinations (six separate examination papers):
a) Accounting
b) Part 1 - Management of Projects, Markets and Supplies and Part 2 –
Strategic Management.
c) Investment and Portfolio Management.
d) Mathematics for Finance.
e) Asset Pricing and Derivatives.
• Petroleum and Mineral Geoscience and Project Evaluation Element: consisting of
the following four examinations (five separate examination papers):
a. Mineral Deposits
b. Petroleum Geology
c. Petroleum Engineering
d. Minerals Engineering - Extractive Metallurgy: Five questions, three
questions to be answered.
e. Section A – Metals and Energy Project Appraisal and Finance. Three
questions. Section B – Resource Evaluation. Two Questions. Section C –
Mining Engineering. Two questions. Four questions to be answered, at
least one from each Section.
2. Not fail more than two examinations out of the nine examinations, (Petroleum Geology
and Petroleum Engineering will be treated as a single examination and Management
Part 1 and Part 2 also will be treated as a single examination). No mark below 40% is
accepted as a condoned failing mark. 50% is the minimum pass mark. The Board
retains the option to change the weighting from time to time of the course work
component included in the relevant examination papers depending on the proportion of
course work completed for any component of the course.
3. Achieve 50% in the dissertation, language, supplementary maths and excursion
element. The Wessex Geological Fieldtrip and South Africa Visit to Active Mining
Operations reports are weighted approximately 20:80 between the Wessex and South
Africa excursion reports respectively. The language option is pass/fail only and must
be passed in order to pass the element. The supplementary maths is assessed as part
of the examinations.
72
If you are deemed to have failed the MSc after the Examiners’ meeting in October then you
can re-sit all or some of the examinations (as decided by the examinations board) but only in
the next academic year (at the times fixed by the examinations committee). These
examination times for the academic year 2019/2020 will be communicated to you. Failure in a
re-sit examination is final.
Past examination papers will be loaded onto Blackboard during the Autumn and Spring terms
once all examination boards have been completed.
ICT ensure that all taught postgraduate students, on departing from the College, are given
clear guidelines on how to keep in e-mail contact through their College e-mail address to
receive information on the time and dates of re-sit examinations. It should in any event
be self-evident that where re-sit examinations are expected, that candidates need to be
proactive rather than expecting the course Director to chase a candidate using personal emails. Provided a candidate stays on the College’s outlook system, they will also be given
access to any relevant Blackboard courses to establish any changes in syllabus.
Marking Scheme
•
•
•
Pass: 50% to 59.9% in all elements;
Merit: 60% to 69.9% in all elements;
Distinction: 70% or better in all elements.
Where appropriate, a Board of Examiners may award a result of Merit where a candidate has achieved
an aggregate mark of 60% or greater across the programme as a whole AND has obtained a mark of
60% or greater in each element with the exception of one element AND has obtained a mark of 50% or
greater in this latter element.
Where appropriate, a Board of Examiners may award a result of Distinction where a candidate
has achieved an aggregate mark of 70% or greater across the programme as a whole AND
has obtained a mark of 70% or greater in each element with the exception of one element
AND has obtained a mark of 60% or greater in this latter element.
Investments and Portfolio Management and Mathematics for Finance, are written at the end of
the Autumn term. Accounting and Mineral Deposit Studies examinations are written at the
start of the Spring Term. The Derivatives paper is written at the end of the Spring term. The
rest of the papers are written at the start of the summer term.
The course Director is permitted to provide provisional/indicative grades for your December,
January and May examinations when they are available as follows:
A = 70% or more
B = 60 - 69%
C = 50 -59%
D = 40 – 49%
E = 30 – 39%
F = less than 30%
Note: Marks “D” “E” or “F” are all fail marks.
You will also be informed of your overall examination performance as provisional/ indicative
grades after the Board of Examiners meeting held in the last week of the summer term.
73
College regulations dictate that the course Director is not permitted to inform you of your %
marks. Instead, the University, upon completion of the programme, will send you these
marks.
The course Director would plan to convene the final Board of Examiners’ meeting in midNovember given that the dissertations all have to be double marked and then reviewed by the
external examiner, but the exact date depends on the availability of the external examiner. It
takes a finite amount of time to then compile the results in the format required by Registry.
Furthermore there are a large number of MSc courses in Imperial College, all making their
returns to Registry about the same time. Normally it takes about two weeks to process the
results of the MSc M&E Finance degree, which are then released around mid-November. It is
not possible to provide an informal confirmation of results.
Under College regulations the Department is required to provide feedback to students on their
performance in assessments during their course. Responsibility for providing feedback on
performance in written exams to students is devolved to Departments to develop their own
mechanisms for doing this. Students on the MSc Metals and Energy Finance course are
provided with information about how final marks for individual courses are arrived at in the
course handbook. Apart from assessment of course work that is routinely provided the
Department does not consider it necessary to go beyond the very detailed results that will be
released to you.
Please also note that under College regulations "A candidate re-entering any part of the
examination will normally only be credited with a bare pass mark if successful."
The whole issue of the graduation ceremony is between you and the College but generally
takes place in May each year. The issuing of degree and diploma certificates is between the
student and Registry. If formal confirmation of the award of the degree is required prior to the
issuing of certificates then again Registry will be able to help.
The College has procedures in place for the consideration of requests from students for
special examination arrangements due to physical, learning or other disabilities. If you believe
you may require a form of special arrangements for your examinations this year, you should
contact the course Director as soon as possible.
All such requests must be made with clear supporting medical information, and submitted to
your Department so that they may be passed to the Registry at least six weeks before your
first examination (except in the case of accidental injury or acute illness, when the application
should be submitted as soon as possible after the event).
For further information please speak to the course Director, or ask the College Disabilities
Officer for advice.
Course Timetable
This will be available on the dedicated Blackboard learn+:
Access is through the website:
https://bb.imperial.ac.uk/
74
Virtual Fieldtrips
Virtual Wessex Geological Fieldtrip
This fieldtrip is complementary to the Introduction to Petroleum Geology course, putting
concepts and skills into practice. The fieldtrip has two specific objectives. Firstly we will review
the geological processes that result in the generation, migration, entrapment and preservation
of hydrocarbons. This is assisted by the Wessex Basin being an exhumed, partly uplifted,
petroliferous sedimentary basin. Secondly we will describe the main productive reservoir
intervals of the Wytch Farm Oil Field, particularly the Triassic Sherwood Sandstone and the
Lower Jurassic Bridport Sands. This information will be used to discuss broader aspects of the
development of the Wytch Farm oil field and to make comparisons to the North Sea Fields.
Intended Learning Outcomes.
At the end of the fieldtrip students will be able to:
•
•
•
•
•
•
Understand the processes resulting in the formation of sandstone, limestone and
mudstones
Demonstrate an understanding of the rock properties associated with reservoir, seal
and source rocks
Relate the processes associated with the formation of different rock types to their rock
properties
Discuss the geological events that caused the development of the Permo-Triassic
sedimentary succession of the Wessex Basin
Explain the origin of geological structures and regional tectonic events which have
influenced the petroleum system of the Wessex Basin.
Compare and contrast the Wessex Basin and the North Sea
Deliverables.
A 3,000 word report (about 10 pages of double spaced text), illustrated with your own field
sketches and photographs, outlining the tectono-stratigraphic evolution of the Wessex Basin
and its impact on the development of the petroleum system (source rock, seals, reservoirs,
migration, trapping and timing) in the area. Students should reflect on the intended learning
outcomes when writing their report. The excursion report should be submitted as a spiralbound hard copy, digital version sent via the file exchange plus a digital version with pictures
removed sent by e-mail attachment to the course administrator – Joanna Owens. This will be
scanned with suitable software as outlined in the plagiarism section of this course handbook.
The following guidelines are provided:
1. Place observations in their regional context, beginning with the inception of the basin in
the Permo-Triassic:
• What were the environmental conditions in the Permo-Triassic?
• How extensive was the area of sedimentation?
• Discuss the geological events that caused the development of the PermoTriassic sedimentary environments
2. Describe the formations you saw, beginning with the oldest, in terms of their age,
lithology, grain size, fossil content and environment of deposition
3. Emphasise the dynamic nature of the depositional processes – in terms of
transgressions and regressions
4. Place each formation in its petroleum system context and discuss its function in this
regard. Quote numbers – e.g. porosity, permeability and organic content
75
5. Briefly describe the geological structures you saw and the regional tectonic events –
e.g. the Tertiary inversion - that affected the basin
6. Discuss the role of these structures/tectonic events on hydrocarbon occurrence
Extra marks will be earned for:
7. Analysis of the hydrocarbon prospects of pre- and post inversion structures
8. Comparison of the similarities/differences between the Wessex Basin and the North
Sea: Is the Wessex Basin a suitable analogue for the North Sea?
Marks will be awarded as follows:
•
•
•
•
•
•
Layout and Editorial
Structure
Illustrations
Note Book
Description of localities visited
o Formations
o Depositional processes
o Structures
Synthesis
10%
10%
15%
15%
30%
20%
The total will count 20% towards the element that is reported separately.
Virtual South Africa Fieldtrip
A virtual excursion based on Teams meetings during the period 2 -13 August 2021 will be
undertaken to active mining, downstream metal and mineral processing and energy
development in South Africa . The Teams meetings are a key component of your degree
programme as it provides first-hand experience of all aspects of the extraction industry. It also
reinforces the practical application of the theoretical material covered in the first two terms.
The virtual excursion is the default position, but an in-country excursion will be organised if
conditions allow by August.
The preparation of the report marks the transition from the taught phase of the course to a
focus on independent effort, which includes the dissertation. While the report must be derived
from material arising directly from the visit, you may (and should) rely on relevant background
covered during the autumn and spring teaching terms.
We always visit active operations and it is pointless attempting to set these up too far in
advance. The final programme will be finalised much closer to the time - there are always last
minute changes in dates as operational issues take priority over student visits.
The approach used in the preparation of the report has direct application to all probable future
career paths for MSc Metals and Energy Finance graduates. The external examiner will
expect the editorial standards, technical accuracy and financial insights to start approaching
those required of any professional report. In many cases analysis comments are potentially
commercially sensitive, so a reminder that the excursion report should remain a confidential
document not to be released to third parties.
The quality of the excursion report is also considered separately by the Board of Examiners
and is taken to be an important measure of overall academic ability and probable future
competence. The actual mark achieved is incorporated into your Excursion Report grade and
will be worth 50% of the total (the other 50% being made up with grade achieved for the
Wessex excursion. If the Board is required to exercise discretion, considerable weight is
normally given to the standard achieved in the excursion report.
76
The deadline for submission to Joanna Owens is 4.00pm on Friday 3rd September 2021
Departmental guidelines require that we impose a penalty of percentage points (not 5% of
the grade awarded) per day for late submission in order to be fair to candidates submitting on
time. You need to plan your timing carefully to ensure that you maintain balance while not
running out of time. Every year individuals significantly underestimate the time that is needed
to compile the large amount of information that they were exposed to on the visit into a
coherent and self-contained report.
It is essential that you use available Cloud-based platforms to preserve your efforts. College
cannot in 2019/20 accept as a mitigating factor for late submission of excursion reports
circumstances relating to failure of personal hardware.
The excursion report should be submitted as digital version sent via the file exchange plus a
digital version with pictures removed sent by e-mail attachment to the course administrator –
Joanna Owens. This will be scanned with suitable software as outlined in the plagiarism
section of this course handbook. Evidence that text has been directly downloaded from
company, analyst or other websites without clearly identifying the source in “quotations” and
indicating the url could be treated as plagiarism. This also applies to material taken from the
company presentations provided during the excursion.
I am now obliged to notify any breach of this rule to the Board of Examiners, if demonstrated
to have occurred, could result in any mark allocated for the report not being accepted. If the
level of plagiarism is excessive the Board of Examiners may decide to take the matter further.
These guidelines will be the same for the dissertations.
Marks will be awarded as follows:
•
•
•
•
•
Layout and Editorial
Structure
Illustrations
Description of projects and operations visited
Theme
10%
10%
15%
45%
20%
Dissertations
Introduction
You will probably find in a few years’ time that the dissertation and the approach you are
required to follow will have represented the most useful part of the course when it came to
career development. The ability to identify new opportunities, formulate a suitable study, plan
its implementation, locate relevant information, compile this into a coherent format and derive
from that fresh insights as to the potential of the opportunity tends to result in professional and
business success.
A trend that has evolved during the last few years with an increasing number of students on
the MSc Metals & Energy Finance programme being offered appointments in the financial
services sector which is conditional on starting in the summer on a full time basis. To some
extent this is a measure of the success of the course and the reputation graduates have for
offering a specialist capability. This is creating a demand and given the cost of the course
there is obvious anxiety about clearing loans. Some students do not feel that they cannot risk
having an offer withdrawn because they are unable take up the position in early summer.
77
Each year students significantly underestimate the level of effort needed to generate a
dissertation of the standard expected and it will often emerge that those that cannot meet the
deliverables in progress reports are the same individuals that have already taken up positions
with an employer. The students assume that they can meet the demands of both an employer
and of completing a successful dissertation and working ten hours a day in an office and trying
to generate a dissertation over the weekend is simply not possible. It is very rare for the day
job to provide material for a relevant dissertation.
Some students, when they realised just what was involved in the preparation of a dissertation,
have told the employer that they would not start with them before the submission date. Some
organisations sometimes accepted the decision without withdrawing the job offer, so taking an
assertive stance can pay off. To help you I draw your attention to the College policy of student
employment during studies which refers to students taking on part-time work (attached and
below)
http://www3.imperial.ac.uk/registry/proceduresandregulations/policiesandprocedures/other
In particular, the final paragraph is relevant:
“The College’s examination boards will not normally consider as mitigating circumstances any
negative impact that part-time work during term-time may have had on a student’s
performance in examinations or in other assessed work. Nor can examinations or vivas be
rescheduled to accommodate students’ part-time working arrangements.”
For “part-time” in this regard, read also “full-time”. This policy can be explained to an
organisation and a responsible manager would not expect you to compromise your academic
performance.
“Some dissertations that are based on active project may need to be treated as confidential if
you have received privileged information from the promoters. If you wish to have your
dissertation embargoed then please let the course Director know. He will then formally
respond to you to confirm that your dissertation will be treated as confidential by the
examiners and will not be loaded onto Spiral (Imperial's open access research repository) or
released into the public domain. We do not disclose which dissertations have been
embargoed so even the titles will remain confidential. The default of course is that
dissertations automatically get loaded up onto Spiral – there is no need to specifically request
that this be done.”
Internships
Students on the course who are recent graduates with little experience do sometimes arrange
internships to boost a CV. The tasks set by the host may have nothing to do with the
proposed dissertation topic. The student will then feel under pressure to meet the demands of
an internship to the detriment of their dissertations. The consequence, all too often, is that
while the underlying concepts behind the dissertation have been good, the dissertation ends
up being thrown together. Apart from being poorly edited and missing key elements such as
an abstract, the whole integrity of the study is compromised.
While it is your future and you will do what you feel is best, the strong advice by the course
Director is that you must be assertive with your managers in taking time off for your
dissertation. The worst they can do is terminate the internship and withdraw an offer of
employment. If they were to do so, given the importance to your future in presenting a good
dissertation, you should ask yourself if you really wanted to work for such an organisation.
78
Planning
The starting point in planning your dissertation is to identify a suitable metals or energy project
for a case study that will provide basic assumptions. Projects already in production are
retrospective scenarios so not suitable. What works best is an advanced project at the prefunding stage that provides the basis for a suitable deterministic financial model. Technical
variables must be integrated into the financial elements. That provides the basis for the
stochastic component where the uncertainty associated with the model can be illustrated. This
works particularly well for marginal projects. Some dissertations do consider purely generic
scenarios unrelated to specific projects but the risk is that they become too abstract and
difficult to manage.
While you need to start considering possible topics from the start of the teaching delivery, you
are advised to keep an open mind. A good approach is to select an area of the formal
programme that you feel you would like to know more about. During the course of the
teaching delivery you will be directed to past dissertations that are relevant to the topic being
covered and this is the best means of establishing the scope and depth expected
It is vital that you take ownership of the task. Even if you do arrange a secondment with an
outside organisation during the summer they are not going to hand a suitable topic to you on a
plate. Where you are approached to base a dissertation on a real project the requirements of
the sponsor seldom align with the academic requirements for a successful dissertation. You
also do need to think through very carefully the implications before selecting a topic which
involves a sponsor giving you access to privileged information that is commercially sensitive.
Inevitably you will be putting in a request to me that the dissertation be embargoed and that
probably means you will not be able to show case your capabilities in a future interviews.
Layout and Editorial
The guidelines outlined below must be considered in conjunction with the briefing to be
provided by Library on 10 May 2021 on Library requirements, format and editorial standards.
Please refer to the Appendix to this handbook “Planning and writing your dissertation” This will
answer the question “Is there a word or page limit for the dissertation?” Word limit
requirements are given page 6. Remember that a well-chosen illustration with a good caption
can significantly reduce the need for descriptive text.
Dissertations can be rejected simply because of shoddy presentation. A significant proportion
of the grade is determined from the write-up presented to the examiners. A badly written
dissertation may well be rejected regardless of the way a topic is handled. Simple things
like writing in the passive voice is implicit but students still get confused. Certainly the use of
the first person pronoun will require extensive re-editing. Do not under estimate the time and
effort needed to remove, say, five grammar and spelling errors per page down to an
acceptable five for the whole dissertation. In a recent case where the former was the case the
examiner refused to read beyond the first chapter.
A common mistake arises with the chapter headings, fourth-order headings (eg 7.3.1.1
Binomial Trees) is too great a level of segmentation. You are going to end up with oneparagraph sections. The dissertation should not go beyond third-order headings. Also the
convention is numeric, not alpha-numeric (eg 6) a), etc). These should then be linked to
pagination. Following library guidelines will add 25 percentage points regardless of the quality
of your research.
79
If a Chapter includes too many topics some (such as, say, mining and processing) may need
separate chapters. As you generate the text you need to edit so that Chapters are in balancethis allows the reader to navigate more easily.
Make sure you use the metric system throughout. If you must use $/lb for metal price make
sure it is the $/tonne equivalent that is used in the spreadsheet calculations. 0.047 oz/st
(presumable ounces per short ton) is not the same thing as 1.457 grams per tonne. You do
not just multiply by 31. You never determine NPV as US$ 40952457.98. This level of
precision is meaningless. At the most it would $40,952,500 using this formatting.
Spreadsheets need to be checked so that only significant units are used. Furthermore to
assume for, say, your base case debt of 3142534.247 (essentially down to fractions of a cent)
demonstrates a lack of intuitive feel for numbers. $31.43M is what you should use. If you are
citing values in the spreadsheet in 000s then this must be stated in the corresponding labels.
In anticipation of a query on the use of IC-MinEval with the preparation of your dissertations
and if a model generated using the application can be submitted instead of a model you have
designed and customized to the specific scenario you are considering, the answer is obviously
no. The dissertation is awarded based on an independent piece of research not on a re-cycled
standardised financial model incorporating formulae and functionality that does not apply to
the project being considered. IC-MinEval does not in any event model the optimisation of
WACC arising from applying the CAPM and tax-adjusted cost of Debt that should be a core
deliverable for most mining related dissertations. These variables are derived independently of
IC-MinEval.
The stochastic component with the MC-generated distributions is a key deliverable so please
make sure that screen shots are dropped into the final text of the report. Most dissertations will
involve the development of Excel and Crystal Ball files. It is expected that these files will be
delivered with the dissertation in such a way that the examiners will be in a position to use and
verify these files. Accordingly, they will need to be self-explanatory and not contain any bugs
otherwise up to five percentage points may be deducted from the dissertation. You will
certainly need to prepare for the final version of your dissertation some screen shots of the
relevant sheets in the model to identify the cells linked to the defined assumptions that drive
the MC in addition to output distributions.
Your last task, after completion of the write-up, is to check that the working titles used in the
original proposals are still appropriate. In many cases they described your aspirations but can
now be significantly shortened. Remember this is what comes up in on-line bibliographic
search. You just need the key words to be included and should not require more than ten, 15
maximum. Keep the essential nouns but remove verbs and adjectives that add little
illumination. If you can weave into the title something like “Technical and Financial Evaluation
…” it will look better on a CV.
Being able to write a literate report will be significantly career enhancing for you. This is not
just a matter of appearance and convenience for the reader. It also reflects an ordered mind
that is the pre-requisite for any successful intellectual endeavour. The process of setting a
high standard for the former will inevitably enhance the latter (intellectual endeavour). Factor
in that 25% of the total grade for the dissertation is based on Layout and Editorial, Structure
and Illustrations.
Approval, Implementation and Supervision
A short outline of your proposed dissertation topic should be prepared and sent to the course
Director by e-mail Tuesday 11 May 2021. This should include the title of the thesis and a
statement of the objectives of the study and the likely source of information. While the course
Director will have overall responsibility for all the dissertations, faculty will be assigned
80
responsibility as co-supervisors depending on their area of expertise. Your proposals will
permit provisional allocation of supervisors.
Oral presentations supported by Power Point presentation consisting of at least five slides but
no more than 10 will be given to the course Director and faculty on Monday t 17th and Tuesday
18th May 2021. The schedule will be arranged in blocks with topics to be co-supervised by the
same member of faculty grouped together. You will have an opportunity to implement
suggestions and comments ahead of the formal presentations to the external examiner during
the course of Friday 21st May 2021. We require his formal approval of the dissertation topics.
This will obviously require some careful preparation by you. You will each be allocated 20
minutes (10 minutes for a formal presentation and 10 minutes for us to clarify any issues).
The purpose is to ensure that we understand exactly what you intend working on. The role of
the external examiner is not to provide supervision but to ensure that the final dissertation is
an acceptable topic for the relevant degree option.
You will need to send an e-mail to the course Director by 8.00 am on 21 May 2021 with an
attached word document with the final version of the summary of the proposed project with the
items outlined as the deliverables. The presentation to the Director, a member of faculty and
external examiner on 21 May 2021 should also be accompanied by a power point
presentation. Your final presentation to him MUST be supported by a Power Point
presentation consisting of at least five slides but no more than 10. Copies will be loaded onto
the laptop and retained for the record. A presentation consisting of a few disconnected bullet
points without sufficient depth to permit meaningful engagement at a postgraduate level
simply means the proposal will not be accepted.
In the past students who have attempted to ignore these guidelines and enter into an informal
dialogue with the external examiner, have been told politely but very firmly that this was not
acceptable and have been asked to make way for the next person. This was a lost
opportunity for them that cannot be recovered. There will be no second opportunity to meet
the external examiner.
Reconciling the original proposal against the final dissertation submitted is obviously a key
part of the assessment processes. Significant departures from the original proposal must be
approved.
In general students obviously welcome the opportunity of receiving focused comment on
potentially good projects and understand perfectly well why putting in the effort to generate a
professional and technically literate presentation is clearly to their advantage.
The dissertation will be judged on your ability to undertake an independent research project.
While academic staff have a responsibility to provide supervision, this is not a process that
involves step-by-step coaching. On the contrary there will be regular reviews during the
summer in which you will need to demonstrate that you have a clear understanding of where
the research is heading. You will have a nominated co-supervisor and please keep this
individual informed when seeking advice from other Faculty to avoid duplication of effort. As a
reminder, all formal College exchanges must be undertaken through your College not
personal e-mail.
There is obviously considerable intellectual satisfaction when the project comes together and
this provides the key training objective of the dissertation and the degree. Our graduates are
able focus their energy in professionally productive ways.
As a supplementary to the guidelines on plagiarism, common sense should be applied to
distinguishing between a student seeking advice with regard to their project as opposed to
asking someone to write it for them. We have had a case where a student actually attempted
81
to commission someone to write the work for him. Needless to say action was taken and the
consequences can be very serious indeed.
Progress Reports
In order to ensure that the course Director is able to monitor progress with your dissertations,
there will be two formal reviews during the summer. These are not optional and are part of the
dissertation assessment process. The deliverables are outlined below.
We will need from you for on Monday 14 June 2021 an outline of the status of work completed
with specific reference to “Revisions to Original Proposal”, “Sources of Information Used”,
“Development of the Quantitative Finance Components”, “Progress in Meeting Key Targets”,
Likely Conclusions” and “Time-line for Completion”. This outline should not be more than two
pages in length.
Clearly the objective of this exercise is to identify any projects that are running out of
momentum. In most cases suggestions would be expected for those areas that you should
focus on to enhance the quality of your final product.
The second review will follow the same format and the course Director will require your
submission on Monday 5 July 2021. This should comprise a skeleton of your “Introduction”
“Conclusions” chapters as well as the proposed chapter headings. I would expect this note to
be about 10 pages long. You must also send through a digital copy of the Excel-spreadsheet
financial model that you have developed. The financial modelling represents the quantitative
finance components of the dissertation and forms an essential part of the deliverable for the
degree. A dissertation based on a qualitative review will not be acceptable.
The objective of the second review is to help ensure that the final submission has a coherent
and logical focus. In the past where this session has generated an effective dialogue the
student has probably been able to achieve a significant enhancement in the final grade
awarded over that which they might otherwise have achieved.
The academic purpose of requiring students to submit regular progress reports is to ensure
that you receive appropriate supervision. If the project is not on track then that is the time to
address the issue not when it becomes evident there are fundamental flaws in the approach
being used. Obviously the more detail that is provided in a progress report the better it is for
the overall quality of the dissertation and the final grade awarded. Sending a draft of the whole
dissertation though (which sometimes happens at this stage) and then leaving it up to the
supervisor to work out if this provides the basis for a successful submission is not going to
work to your advantage.
A nil return for a progress report will be noted as such with the loss of marks for this
element. Furthermore it will also impact on the final assessment and overall grade awarded
as the audit trail between initial proposal and final dissertation will be incomplete
While students should expect feedback on their dissertations, there are, as outlined above,
three formal stages when this happens:
•
•
•
The initial presentation to the external examiner
The first progress report
The second with the financial models.
There is a clear audit trail and in general students realise that it is to their own advantage to
comply fully with the process. Not only do they get feedback, the quality of the submissions is
reflected in the grade awarded. Clearly it follows from the above that the progress reports are
part of the assessment process. Feedback that is provided is part of the supervision.
82
Assessment
The final mark sheets are based on the excursion report model but include comments by the
second marker where reconciliation of marks awarded is needed and then confirmation
approvals are noted by the external. These comments are directed to the Board of Examiners
to help with their deliberations and not formulated as part of the process of supervision. There
is therefore little educational advantage to the student in having sight of these comments and
they are in any event confidential to the Board.
Assessment will based as follows:
•
•
•
•
•
•
Layout and Editorial
10%
Structure
10%
Illustrations
15%
Performance in undertaking an independent research project – presentation and
progress reports
15%
Performance in undertaking an independent research project – final version
30%
Quantitative modelling
20%
The grade awarded for work linked to presentations and progress reports forms a small part of
the overall mark (15%). The key role for this element is make sure there is an audit to
compare initial concepts and progress reports with what is actually delivered and of course to
provide a framework for formal feed-back. An MSc dissertation is an independent piece of
research and the role of the supervisor does not extend to detailed comments on a draft.
Most dissertations will involve the development of Excel and Crystal Ball files. It is expected
that these files will be delivered with the dissertation, in such a way that the examiners will be
in a position to use and verify these files. Accordingly, they will need to be self-explanatory
and not contain any bugs otherwise, as already indicated, up to five percentage points may be
deducted from the dissertation mark.
A short citation is given in the mark sheet that incorporates what the examiners consider to be
the key elements of the dissertation. Should you want a copy this can be forward to you once
the final results have been released by Registry.
You are required to send to Joanna Owens via the File Exchange copies of your dissertation a
digital version containing the pdf of the dissertation including screenshots of key parts of the
financial models and excel spreadsheets of the financial models. You must also submit a text
file with no pictures by e-mail to the– Joanna Owens to be loaded onto Turnitin. We should
also receive a pdf version of your dissertation for loading onto the college Spiral system
(additional information regarding this is provided in the appendix “Planning and Writing
Reports and Dissertations”).
Please do not send the files to Joanna as e-mail attachments as this could overwhelm her
InBox. Please use the College’s File Exchange. You can log in at:
https://fileexchange.ic.ac.uk/
Please do not use commercial Dropbox platforms. These are not secure or convenient for
Joanna.
Just to be very clear, formal submission of your dissertations must be to Joanna – please do
not send digital files to the course Director via the College’s File Exchange and assume that
you have complied with deadline requirements. Joanna will handling the file management and
obviously I will have access to the folders she sets up.
83
Submission and File Management
The deadline for the submission of the dissertation is 4.00 pm 3rd September 2021. Any delay
in submission attracts a 5% penalty points/day (see policy on late submission). The arithmetic
is very simple. A student handing in a dissertation midmorning on the following Monday will
have had an extra two days to finalise editing over the weekend and will have a -10% penalty
imposed. If handed in after 4.00 pm on the Monday it will be -15%, etc.
In the pre-Virtual Learning Environment academics collected a store of excuses along the
lines of the “dog ate my homework” for not being able to hand in course work on time. We are
now in a world in which all assignments can be loaded onto BlackBoard and College work can
be backed up on the H drive. There really is no reason to lose more than an hour of effort if on
the College system. VPN no longer requires you to be physically on campus to have access
to College’s IT resources.
There is a trend with respect to dissertations along the lines of “I have been travelling/working
at home and my lap top crashed and my report/course work became corrupted/lost/unretrievable”. Clearly to commit several days of work on a key assignment such as an
excursion report or a dissertation and then save it onto a single piece of hardware not even
backing it up even onto an external or flash drive is just puzzling. Using this then as an
excuse for late submission is simply a modern version of the dog and the homework.
Imperial College London has purchased an institutional licence for the use of the Box cloud
content management and collaboration platform. Box is available to all departments, staff,
students, researchers and academics, providing unlimited storage at no cost. You all also
have a free quota on Onedrive as part of Imperial’s Microsoft tie up. Onedrive is very similar to
Box. You also have about 4GB of space on your home (H:) drive quota and both of these are
accessible from anywhere in the world and backed up. As long as you use them correctly they
shouldn’t have any issues with lost/corrupted files. Under Onedrive you can do version control
and restore old versions of files as you can do under Box.
As you approach the final straight with your dissertations it is essential that you use available
Cloud-based platforms to preserve your efforts. The College cannot in 2020/21 accept as a
mitigating factor for late submission of progress reports and dissertations circumstances
relating to failure of personal hardware. Also make sure you have a final digital version of
your dissertation at least 24 hours before the deadline.
There is no oral defence of the dissertation. You will have no further course commitments
once your hardcopy dissertation is handed in on 3rd September 2021. If the guidelines are
followed, the study that is presented should provide the basis for an objective assessment by
the examiners.
To provide some context, compliance with the academic guidelines for the preparation of the
dissertations allows the examiners to compare initial concepts and progress reports with what
is actually delivered. While the dissertation is an independent piece of research, if there is
a significant mis-match between initial concepts and the actual report then the dissertation will
be rejected. It will nevertheless be subject to Turnitin scanning for evidence of plagiarism. The
examiners will also check carefully for inconsistencies between the status reports of work in
progress and the final dissertation.
Disclaimer and Confidentiality
Where you have been back-engineering actual projects there is the obviously danger that your
results might not support those which has been released to the market. You would be
surprised how quickly a company can respond in this type of situation and if you elect to work
84
directly with a sponsor, an embargo may be placed on your dissertation. Where you are
exploring sensitive issues you should therefore put in a disclaimer in the preface to your
dissertation based along the following lines:
"This study is based on an analogue of the xxxx project with variables derived from
information in the public domain. The base case assumptions should not be considered as
accurate or representative of the actual xxx project. The objective of the study is to test the
application of quantitative financial models applied to the base case as part of the academic
requirements of the MSc. The results generated should not therefore be considered as an
indication of the real value or actual potential of the project."
If on review of the examination version the sponsor has concerns about material
covered entering the public domain then we can at your request embargo the whole study
(permanently if necessary). You should be aware therefore that when working with sponsors
there is a risk that you may not be able to showcase your dissertations at, say, job interviews.
You need to consider the balance of possible career advantage working on a topic that is
suggested by a sponsor, compared to generating a self-contained study that you can freely
distribute in following your own career aspirations. There is no correlation between grade
awarded for a dissertation and whether or not this was based on working with a sponsor.
If you wish to have your dissertation embargoed then please inform the course Director. He
will then formally respond to you to confirm that your dissertation will be treated as confidential
by the examiners and will not be loaded onto Spiral (Imperial's open access research
repository) or released into the public domain. We do not disclose which dissertations have
been embargoed so even the titles will remain confidential.
85
15.
And Finally
Alumni Services
When you graduate you will be part of a lifelong community of over 190,000 alumni, with
access to a range of alumni benefits including:
•
•
•
•
•
•
discounts on further study at the College and at Imperial College Business School
alumni email service
networking events
access to the Library and online resources
access to the full range of careers support offered to current students for up to three
years after you graduate
access to our Alumni Visitor Centre at the South Kensington Campus, with free Wifi,
complimentary drinks, newspapers and magazines, and daytime left luggage facility
Visit the Alumni website to find out more about your new community, including case studies of
other alumni and a directory of local alumni groups in countries across the world.
www.imperial.ac.uk/alumni
Opportunities for Further Study
After you have completed our MSc Metals and Energy Finance course, you may wish to
continue your studies through research. Our department offers many PhD opportunities for our
graduates. To find out more about our PhD opportunities, please visit:
http://www.imperial.ac.uk/engineering/departments/earth-science/prosp-students/phdopportunities/
86