MSc Engineering Management

2 years full time, 120 ECTS, degree

Language of instruction, English


Engineering management combines management theory with the methods and concepts of engineering. Systematic quantitative methods are applied together with qualitative methods to solve operational problems and provide support for complex managerial decisions. Engineering managers are trained to be experts in improving performance of processes in various production or service industries. In the current economy it has become more important than ever to reduce costs, increase output and make operations as efficient as possible.


Students that enter the program with an undergraduate engineering degree can receive the MSc degree in Engineering Management upon completion of the programme. This provides the education equivalent to the requirements for the professional title of Chartered Engineer (Icelandic: verkfræðingur), as defined by the Ministry of Industry and the Association of Chartered Engineers in Iceland. Students who do not have undergraduate engineering degree (but fulfil other acceptance criteria) can add the required fundamental engineering subjects.

The emphasis of the Engineering Management programme at Reykjavik University is on preparing technical managers from different fields of engineering, science, math and computer science to manage more effectively within technologically-based operations and to promote entrepreneurial activities in the formation of new business enterprises. The programme emphasises both technology and management perspectives in solving problems, making decisions, and managing risks in complex systems. It is more technical and less general than an MBA program and can be described as an intersection of technology and management.


The Engineering Management programme takes two years of full time study to complete. The first semester gives the students a solid exposure to quantitative methods with courses in deterministic optimisation, stochastic modelling, data mining and statistics. During the second and third semester students are introduced to various aspects of technological management and methods for analysing and solving operational problems. The students are also expected to work on an independent research project during their studies.

A normal workload during the first three semesters is three M.Sc. level courses and an extra elective course for enhancing the understanding of the selected research topic. During the fourth semester, the students complete the research project and write a thesis. Students are encouraged to take a semester abroad during the second year.

Course catalogue (pdf)
Learning outcomes

Year 1 

Year 2

Fall Optimization Methods  
Applied Probability
Data Mining and Statistics

Cost Analysis
Organizational Psychology and  Human Resources
Corporate Finance
Thesis Preparation
Research Methods I

Applying Models in Management
Integrated Product Development
Project Management and Strategic Planning   Elective course




  • Undergraduate degree in engineering, mathematics, physics or computer science
  • Undergraduate courses on Calculus, Linear Algebra, Probability, Statistics and Programming

An otherwise promising student who does not satisfy the requirements above may be accepted to the programme. In such a case the student is expected to fill the aforementioned requirements during the first year of study.


Contact us

If you would like any further information please do not hesitate to contact us.

Office of the School of Science and Engineering tvd(at)

Páll Jensson Head of Financial Engineering and Engineering Management

Páll Jensson
Head of Financial Engineering and Engineering Management
(354)  599 6563

For international enquiries please contact:

Verity Louise Sharp International admissions officerVerity Louise Sharp
International Admissions Officer
(+354) 599 6200

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