MBA - Master of Business Administration

Language of instruction English
Start dateAugust
Duration2 years
Study modeClasses take place in the form of compressed modules from Thursday to Saturday, every other weekend.

Application deadline: April 30th. We do accept applications until May 30th if places are available in the programme.



The strength of the Reykjavik University MBA (RU MBA) lies in the exceptional quality of both the faculty and students, the international nature of the programme, the dynamic learning environment, and our strong ties with the business community.

Our students receive training in all aspects of business administration, ranging from accounting and finance to strategy and human resource management. Additionally, there is a great deal of emphasis on developing the personal capabilities of students to improve their leadership skills.

Study information

  • The MBA programme begins with an intensive two-day seminar that emphasis team building and leadership, while providing students with a practical insight into the programme ahead.
  • Students who lack experience in the basics of math and accounting are required to attend preparatory seminars on those topics prior to the start of the programme.
  • Classes take place in the form of compressed modules from Thursday to Saturday every other weekend.
  • Most core courses are held during two weekends, and the assessment is done at the end of the module. Therefore there are no final exams in December and May.
  • Teaching is every other Thursday from 13:00-17:00, Friday 9:00-17:00 and Saturday 9:00-17:00.
  • The Fall semester is from middle of August to early December. The Spring semester is from end of January to early May.
  • Assessment is based on individual and group projects, class participation, case studies, exams and team evaluations.

Learning skills


  • Definitions and concepts of academic fields covered in a general MBA program including management, leadership, personal development as well as human resource and quantitative subjects.
  • Theoretical foundations and methods including, management, operations, business statistics, communications, accounting, organisational behaviour, economics, finance, strategy, marketing, leadership, human resource and business ethics.
  • Research and source of empirical knowledge in management.


  • Have learned how to make effective use of his or her time by prioritising and analysing information that is relevant for the task at hand.
  • Developed proficiency in quickly analysing information.
  • Be able to propose a new or modified strategy that is likely to lead to success in an organization.
  • Be able to start new business venture, including taking all the necessary steps of creating and implementing a fully functioning business plan.
  • Use quantitative and qualitative tools to identify business problems and opportunities showing an appreciation for the interrelationships of finance, accounting, management, operations, marketing, and human resources, both in domestic and international environments.
  • Demonstrate effective leadership and collaboration skills for making decisions and accomplishing goals.
  • Show appropriate written and oral communication competencies that support and enhance managerial effectiveness.
  • Incorporate into business decisions an awareness of social responsibility, legal and ethical requirements, and effective corporate governance.
  • Being able to coach and guide staff, peers and business colleges.
  • Being able to analyse external business environment (such as macro-economic trends, demographic changes, industry, competition, etc.) and the internal operations of an organization (ranging from finances to operations and logistics). 


  • Have developed proficiency in applying the tools and techniques of business administration (most notably the tools of strategic management) to systematically analyse and address business issues in new or rapidly changing circumstances.
  • Be able to identify which theoretical framework and which tools or techniques are required for novel, unfamiliar situations.
  • Be able to identify themes of similarity in different contexts, e.g., across industries, sectors, or international settings.  
  • To select and employ the appropriate tools and analyses, and apply the knowledge obtained during the program in real life situations.
  • Advance knowledge trough innovation and knowledge creation.
  • Have developed comprehensive understanding of organisation's dynamics, operations and management, to enhance entrepreneurial thinking, and to enable students to take on more challenging responsibility and leadership roles. 

Case method

We believe that the best managers and leaders are those who can problem solve and find solutions. The case method helps students develop these skills by presenting them with real –life business scenarios in the classroom and putting them in the role of the decision maker. Our students take an active role in solving hundreds of cases in addition to traditional methods of learning.

This is one of the reasons why our programme is truly international, not only is it taught by experts from the best business schools in the world, but the case method gives our students insights into a wide range of different areas, sectors and global markets.


First year

Core courses

First semester  Second semester
  • Managerial Economics
  • Managerial Accounting
  • Negotiations
  • Organisational Behaviour
  • Personal and Professional Development
  • Corporate Finance
  • Marketing Management
  • Operations Management
  • Business Statistics
  • Personal and Professional Development

Second year

Core courses

Third semester Fourth semester
  • Leadership 
  • Strategic Decision Making
  • Competing in Digital Age
  • Human Resource Management
  • Personal and Professional Development
  • Competitive Strategy
  • Business Law
  • Responsible Leadership
  • Final Project
  • Entrepreneurship*
  • Personal and Professional Development

*Babson University or IESE Business School/Reykjavik University

Personal and professional development

Personal and professional development is an integral part of the Reykjavik University MBA, and enables students to reflect on their personal growth, alongside gaining professional knowledge, skills and abilities. Through our focus on personal and professional development, students reflect on their life and career paths preparing them for their professional life after studies. Our students receive direct personal and professional development training through short workshops and writing papers.

Examples of short term workshops and seminars:

  • How to develop your English skills
  • How to prepare an effective CV
  • How to achieve work and family balance
  • Importance of social networks
  • Executive Coaching
  • Training in presenting and performing

Study abroad

MBA students can apply for a semester abroad during their third semester. The seats are limited and can vary from year to year. In recent years, MBA students have attended outstanding Business Schools like:

  • HHL in Leipzig – ranked nr. 2 in Germany and 26 globally 2013 as Business School 
  • Victoria in Canada ranked nr. 1 in Canada as Business School younger than 50 years 2013

Taking an exchange semester represents a great opportunity for RU MBA students to gain an insight into new markets. 

Further information about the application process can be found here.

Information for current students


Limited space

Due to the limited number of spaces on the programme we cannot offer admission to all applicants. We evaluate all aspect of the application, and specifically we evaluate applicants on intellectual vitality, leadership potential and personal qualities and contributions.

An important goal in the admission process is to create a group with diverse educational backgrounds and work experience. We want students who contribute to the classroom and are willing to share their experiences, because we believe that all students learn invaluable lessons from sharing experiences and perspectives with classmates from many different backgrounds.


  • Undergraduate degree
  • Work Experience (at least 3-5 years)
  • Good command of the English language

All applicants must submit an electronic application and attach the required accompanying documents.

Required documents with application

  • Curriculum Vitae
  • Official Transcripts of diplomas
  • Two personal statements:
    1. Why do you want to pursue an MBA (up to 500 words)?
    2. Discuss your short term and long term goals post MBA (up to 500 words)
  • Two letters of recommendation  from individuals who can assess the applicant's abilities to participate successfully in the MBA programme.

The letters can be in either Icelandic or English. Letters of recommendations shall be submitted directly to Reykjavik University in a sealed envelope or sent to in an email, but they have to come directly from the person that gives the recommendation.

Application deadlines

  • Application deadline: April 30th.

Early applications are encouraged. All applications are confidential.

Tuition fees

Click here  for further information about the tuition fees for 2017-2018.

The tuition fees include: all teaching materials (e.g., books, cases, folders etc.), as well as numerous activities, personality tests, short focus courses, and light refreshments when at school. A study trip abroad for the fourth semester is also included.

Payment is divided equally between four semesters and each semester is paid in advance. 

The Icelandic Student Loan Fund (LÍN) grants tuition loans for the MBA programme.


Auður Arna Arnardóttir

Auður Arna Arnardóttir

Programme Director

Þóra Björk Eysteinsdóttir

Þóra Björk Eysteinsdóttir

Programme Administrator

  • We encourage you to book a personal consultation with us to discuss any questions you might have.
  • You can book a Skype meeting with us, or we can give you a call +354 599 6281.
  • You can also e-mail us at

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