International Business and Marketing

New students will not be enrolled to this programme.

International business and marketing studies prepare students for working in an international business environment. The programmes aim to deepen the student´s understanding of marketing and the international business environment, as well as strengthen analytical and communication skills, and the ability to develop and make use of business opportunities in an international operating environment. Students will also develop strong critical thinking skills and become adept in using independent and scientific work methods.


  • The programme is taught in English but elective courses taught in Icelandic are also available.
  • Our student body comes from all over the world, including a number of exchange students from our partner universities.
  • Our curriculum is developed in consultation with leading Icelandic companies ensuring the content is relevant to today´s business environment. 
  • Timetables
  •  Reading materials
  • Rules

Teaching methods

Each course in the programme is designed to foster a dynamic interaction among students and professors in order to promote a rich learning environment. The teaching environment helps students develop a knowledge base and set of professional skills, and provides a firm foundation for advanced academic study or for entering the global marketplace.

Semester abroad or Internship

In the third semester students undertake either a semester abroad, at one of our  partner universities, or an internship. Students can apply for ERASMUS or NORDPLUS grants to finance their period of study abroad. This is an important part of the programme providing students with a unique opportunity to explore the world and prepare for the challenges that professionals face in an the ever-changing international business world. International students can apply for an exemption to take electives instead of going abroad.


Dean´s Selection Grant for RU School of Business graduate students.

The recipient of the Dean´s Selection Grant pays undergraduate fees instead of graduate fees.

  • An application for a full-time graduate programme is also an application for the Dean´s Selection Grant for the first semester.
  • Students with the highest grade in a graduate programme each semester are applicable. In order to receive the award students must complete 30 ECTS units per semester and follow the programme structure.

More information about the grant can be found here. 


MSc International Business and Marketing

2 years full time, 120 ECTS

Language of instruction: English 
Students spend one semester abroad at a partner university, or undertake an internship abroad.

MIBM International Business and Marketing

1.5 years full time, 90 ECTS 
Language of instruction: English 
Students graduate with an MIBM degree in International Business and Marketing. The programme is composed of eight mandatory courses and one semester at a partner university abroad, or undertaking an internship abroad.

What is the difference between MSc and MIBM?

MSc structure

The MSc is ordinarily completed in 2 years, or four semesters of study. A full semester of study is 30 ECTS. To complete the MSc degree, students must submit a Master's thesis (30 ECTS). The preparation for the Master's thesis starts in the third semester at which time the student selects a supervisor and submits a research proposal by the end of the semester. It is assumed that students will participate in a student exchange at a university in the third semester. Instead of going on a student exchange, students can request an internship abroad. This is a full-time programme. Students who intend to work alongside their studies are advised to enroll part-time.

Programme structure

Fall Spring Fall Spring

Programme structure for students who started in fall 2015 or earlier.

Fall  Spring  Fall  Spring 
  • International business and cultural diversity  (7,5 ECTS) 
  • International marketing  (7,5 ECTS) 
  • Advanced and digital marketing  (7,5 ECTS) 
  • Strategic management  (7,5 ECTS)
  • International markets  (7,5 ECTS) 
  • Branding and strategic marketing  (7,5 ECTS) 
  • Business research methodology  (7,5 ECTS) 
  • Global Economy  (7,5 ECTS)
  • Exchange program and/or Internship  (30 ECTS) 
  • Research proposal 

  • Master Thesis  (30 ECTS) 

MIBM structure

This is a three-semester 90 ECTS programme. Each semester demands a total of 30 ECTS. The MIBM degree is a so-called qualification at the Master's level. In such a programme, students do not write a thesis. In the first and second semester, students take core courses but also have the option of pursuing an elective course or taking an internship. It is assumed that students will participate in a student exchange at a foreign university in the third semester. Instead of going on a student exchange, students can request an internship abroad. This is a full-time programme. Students who intend to work alongside their studies are advised to enroll part-time.

Programme structure

Fall Spring Fall
  • Exchange program or Internship (30 ECTS) 

Programme structure for students who started the programme 2015 or earlier.

Fall  Spring  Fall 
  • International business and cultural diversity  (7,5 ECTS) 
  • International marketing  (7,5 ECTS) 
  • Advanced and digital marketing  (7,5 ECTS) 
  • Strategic management (7,5 ECTS)
  • International markets  (7,5 ECTS) 
  • Branding and strategic marketing  (7,5 ECTS) 
  • Elective   (7,5 ECTS) 
  • Global economy (7,5 ECTS)
  • Exchange program or Internship (30 ECTS) 

Academic staff


The objective of master's program internship is to enhance students' knowledge, skills and abilities related to their core field of study. The internship should grant students that opportunity through hands on projects and by that prepare them for entering the labor market. Students will get to know the operation, culture and people of the firm/institution they conduct the internship at. Students will be assigned a supervisor within the firm/institution and a full time faculty member as a supervisor during the period of the internship. Internships are generally unpaid. Students find internship themselves, and get it approved by the School of Business.

Funding opportunities for internships 

Students can apply for an Erasmus grant to go on an internship in Europe for 2-12 months. Students who have previously been in the Erasmus exchange program can apply for funding for an internship.

The amount of the grant depends on the destination, but is in the range of 450 to 550 € a month, students also receive a travel grant, in the range 275- € 1,100 depending on the destination.

Follow the instruction on the webpage Erasmus+in Iceland .

Students from RU doing internship abroad have so far always been able to receive an Erasmus grant. However, if the popularity increases, students can apply for Nordplus grant. For further information, visit the International Office at RU.

In order to find an internship there are a number of websites that can be referenced:



Our University building offers an optimal study environment. Support services, study areas, coffee shop and gym.

IT facilities

Our IT Services provide a range of computer facilities to help you study. IT suites are located across campus – many with 24-hour access. IT facilities also include:

  • Wireless network 
  • Extensive printing facilities 
  • Adapted PCs for students with disabilities or additional learning needs 

Student study areas

Students have 24-hour access, during term time, to group rooms and private study desks. There is a especially dedicated study area for Graduate students.

Student Union

The University of Reykjavik Student's Union is the focus of many student activities on campus.

Sports Facilities

In the basement of the university, World Class runs a gym which offers discounts to students.

University Book shop

In the main building you can find the book store, Boksala Studenta, which stocks all the books you will need for your studies.


There are three shops and cafés in the building that sell food and beverages to students.

  • Te og kaffi (“Tea and coffee”) sells a selection of coffee drinks, light snacks and bakery products. 
  • Malið serves hot food everyday, plus snacks and refreshments. 
  • The University shop (Haskolabudin) sells groceries, household items and snacks. 

Reykjavik University Campus

Set in one of the most beautiful areas of Reykjavik right next to Iceland's only geothermal beach, the newly built campus offers students modern first-rate facilities. The building has well equipped classrooms and students have 24-hour access to the spacious study facilities.

Environmentally conscious

The campus is one of Iceland's most automated buildings designed to provide an environment optimal for working using the lowest amount of energy.

Automated blinds and windows

In the main areas of the building the blinds and windows are controlled by a weather station positioned on top of the University roof. The weather station collects information about wind direction and outside temperature adjusting windows accordingly, and blinds are automated to ensure direct sunlight does not disturb students working.

A breath of fresh air

The University building is constantly ventilated with natural fresh air using the NAVENT system. Fresh air is drawn into the building and then pumped into the rooms. Special CO2 monitors ensure the correct levels of oxygen in the rooms. Heaters ensure that the air pumped into the rooms maintains the correct air temperature. In the summer time the air pumps drag warm air from the building and pump fresh and cooler air in its place.

Intelligent lighting system

Every light in the University has its own IP address and is controlled by the automated system. Light sensors ensure lighting is only on when rooms are in use. Large windows let in natural daylight which creates a more pleasant working environment.


Beautiful surroundings

Our campus is in a unique position of being set in one of the most popular outdoor areas of Reykjavik.

  • The University of Reykjavik is located right next to Iceland's only geothermal beach,  Nauthólsvík. Students can enjoy swimming in the geothermally heated sea, or relax in the hot tub on the beach. 
  • Right next to the campus is the most environmentally friendly restaurant in Reykjavik, Nauthóll, which has been awarded the Nordic Environmental "Svan Certificate,"  and was the first restaurant in Reykjavik to receive this certification. 
  • Students can enjoy the many foot and bicycle paths in the neighbouring forest. 
  • Students can visit the nearby Perlan situated on top of the city's geothermal storage tanks.


Admissions requirements

  • BSc Business Administration or related field.
  • Individuals with a degree in other fields can apply for admission to the programme (MSc and MIBM) provided that upon starting the programme, they have completed undergraduate courses in accounting and managerial accounting, or will take such courses at RU in place of elective courses during their studies.
  • Excellent English language skills.
  • Further education and professional experience benefit applicants in the evaluation process.

Applications and accompanying documents

All applicants must submit an electronic application and attach the required accompanying documents. The following documents need to accompany applications (they should be supplied in English)

  • Curriculum vitae with a photograph
  • Official university transcripts of records and diplomas
  • Personal statement (Why are you applying to the programme and what is your aim in pursuing the programme? [up to 300 words in English])
  • One letter of recommendation from an individual who can assess the ability of the applicant to pursue the programme. The letter may be in English or Icelandic and should be sent directly from the referee in question to the Master's Programme Administrator in the School of Business at .

Official transcripts of diplomas should be sent to the reception of RU, Menntavegur 1, IS-101 Reykjavík, Iceland. Accompanying documents need to arrive by the application deadline.

Applicants are only summoned for an interview if they have submitted all required accompanying documents on time.

Application deadline and tuition fees

The application deadline is 30 April. 
Applicants outside the EU/EEA must submit an application prior to 1 February. 

Application fee: Non-EEA/EU applicants must pay an application fee of 100 EUR and send the receipt of payment along with the required documents.

Tuition fees.

Evaluation of previous studies

If students have completed university courses at the master´s level, they can apply for those previous studies to be evaluated for transfer of credit.  Rules and form for evaluation of previous studies. 

Contact us

Jóhanna VernharðsdóttirProgramme Administrator  

(+354) 599 6302
Stefan-Wendt_shStefan WendtProgramme Director 

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