WON THE BEST MASTER’S THESIS AWARD – ‘AT FIRST I THOUGHT IT WAS A JOKE’
NHH students Tobias Myrvoll (24) and Peder Undeli (25) wrote their master’s thesis on the price effects of the power cable between Norway and Germany. The Department of Business and Management Science awarded it master's thesis of the year.
Peder Undeli and Tobias Myrvoll wrote this year's best master's thesis at the Department of Business and Management Science. When the duo heard the good news they were very surprised.
‘We just couldn’t believe it,’ Undeli says.
‘It was very surprising.’ We didn’t even know the supervisors had nominated us but we are obviously very proud,’ Myrvoll explains, and adds that they were fortunate enough to present the thesis to the faculty staff in December.
A HOT TOPIC
Myrvoll and Undeli’s thesis looks at how the new NordLink cable between Germany and the NO2 pricing area in Norway affects electricity prices in the two areas. The study looks at the effects on both the overall price level and price volatility.
To isolate the effect of the new cable, the study takes into account a number of factors known to affect electricity prices, such as changes in the price of gas, reservoir levels and the amount of wind power being produced.
‘I suppose it was the combination of our master's specialisations that made us choose the topic. For me, the choice of method was decisive in which thesis I could write since I took the master's programme Business analytics. For Tobias, the choice of topic was more important, as it had to be related to energy or the environment.’
A GOOD MATCH
‘What is it you did that made the thesis so successful?’
‘We were both very interested in this subject field, which I think is essential when students are going to start a thesis,’ says Undeli, and adds that it also helped that the theme was a hot topic in the news.’
‘We also know that we work well as a team.’ Among other things, we wrote our bachelor's thesis together (at OsloMet – editor’s note). I also think that the combination of our master's specialisations was important – we complemented each other well when we encountered challenges,’ continues Myrvoll.
PRAISE FROM THE SUPERVISORS
Endre Bjørndal, Mette Helene Bjørndal and Isabel Montero Hovdahl were supervisors on the thesis.
They don't hold back on superlatives when reviewing the winning thesis.
“Myrvoll and Undeli's master thesis is an impressive piece of work, both in terms of scope and quality. Its conclusions are based on convincing analyses, and the presentation and discussion are also of a high level,’ explains Professor Endre Bjørndal.
The conclusions are closely linked to current events, at a time when the electricity crisis is dominating the news. The power cable from Norway to Germany has been a hot topic across all forms of media.
‘The results show that the new cable has contributed to somewhat higher prices in Norway and somewhat lower prices in Germany during the period analysed. The analysis also indicates that the cable has contributed to increased price volatility in Norway and reduced volatility in Germany.’
‘We developed the regression model ourselves, based on previous similar research and advice from our supervisors. We had incredibly good follow-up throughout the master's thesis, which was absolutely crucial. They were very active throughout the semester and obviously wanted to make this as good a thesis as possible.’
Both of NHH students already had a job before they started their master's thesis, Undeli in Intility and Myrvoll as a consultant in KPMG.
‘Our master's specialisations are what led to us to getting the jobs we did,’ the former NHH students explain.