Business Management

A graduate programme designed for students who wish to combine the different academic areas of Business Management. Students have considerable options for integrating into their studies elective courses in law, information technology, psychology, energy and natural resource science, among others.






The language of instruction is English.

Length of study

14 months over three terms: autumn, spring and summer terms.

MSc or qualification at master level 

Students can choose between a programme structure leading to an MSc degree and a programme structure for a qualification at master level (Master of Business Management, MBM). Both require 90 ECTS credits.

MSc degree

60 ECTS of course work plus a 30 ECTS masters thesis. 

Qualification at master level (MBM) 

90 ECTS credits in courses. Students have the opportunity to finish an internship of up to 15 ECTS.

Tuition fees

Please follow the link below to see tuition fees at RU, per term.


Earn credits with MITx

Graduate students in the MSc and MBM programme in Business Management can complete online courses from the MITx Micromasters® Program and earn credits for their study at RU as electives. The programs are: 


Dean´s selection grant

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.

Information for current students


Countless possibilities

Graduates from the Business Administration programme have gained a versatile skillset and knowledge considered valuable in a variety of management positions. Graduates work as specialists or managers in the private and public sector in for example marketing, human resource departments, international affairs, finance, information management, project management or positions that fit their interests within the field.

The course ideal for those who wish to have a varied graduate programme suited to their interests.

Academic staff

Researchers and guest lecturers

The main areas of research within RU´s Department of Business Administration are innovation and entrepreneurship, finance and economics, corporate governance, marketing and human resource management. 

RU Department of Business Administration is committed to excellence in research and academic staff collaborates with researchers in other fields such as Computer Science and Psychology, within RU and internationally. Students also benefit from the Department's extensive network of international professors and guest lecturers from the business community.  


MSc or qualification at master level 

Students can choose between a programme structure leading to an MSc degree and a programme structure for a qualification at master level (Master of Business Management, MBM). Both require 90 ECTS credits.

MSc degree

60 ECTS of course work plus a 30 ECTS masters thesis. 

Qualification at master level (MBM) 

90 ECTS credits in courses. Students have the opportunity to finish an internship of up to 15 ECTS.

Term structure

Full-time study includes 30 ECTS credits per term.

  • Autumn term: August-December.
  • Spring term: January-May.
  • Summer term: June-September.

Maximum study period

The programme structure is based on full-time study but students have the opportunity to study part-time. The maximum study period is six terms (two years).

Programme structure


MSc and MBM 

V-712-STJO Strategic Mangement ( 7,5 ECTS)

V-736-CMLE Change Management and Leadership ( 7,5 ECTS)

Elective ( 7,5 ECTS)

Elective / V-737-FAFI Fundamentals in Accounting and Finance (7,5 ECTS)*

*For students with bachelor degrees that include less than 30 ECTS credits in business


V-713-INMA Innovation Management ( 7,5 ECTS)

V-717-CPMA Management Control ( 7,5 ECTS)

V-714-BETH Business Ethics (3.75 ECTS)

V-746-REME Business Research Methodology ( 7,5 ECTS)

V-898-REPR Research Proposal  (0 ECTS)

Elective (3,75 ECTS)


V-713-INMA Innovation Management (7.5 ECTS credits)

V-717-CPMA Management Control (7.5 ECTS credits)

V-714-BETH Business Ethics (3.75 ECTS credits)

Elective (3.75 ECTS credits)

Elective/Internship** (7.5 ECTS credits)



V-898-THES Thesis (30 ECTS)


Elective/Internship** (7.5 ECTS)

Elective/Internship** (7.5 ECTS)

Elective (7.5 ECTS)

Elective (7.5 ECTS)

** Maximum 15 ECTS credits can be used for internship. 

Structure for previously enrolled students

Students enrolled in autumn 2017 and 2016

1st year



  • Elective (7,5 ECTS)
  • Elective (7,5 ECTS)

2nd year


  • Exchange programme,  internship or electives (30 ECTS)


MSc Thesis (30 ECTS)

Students enrolled in autumn 2015 or earlier

Autumn Spring Autumn Spring
  • Change management and leadership (7,5 ECTS)
  • Strategic management (7,5 ECTS)
  • International finance (7,5 ECTS)
  • Elective/Internship (7,5 ECTS)
  • Branding and strategic marketing (7,5 ECTS)
  • Business research methodology (7,5 ECTS)
  • Elective (7,5 ECTS)
  • Elective (7,5 ECTS)
  • Exchange programme,  internship or electives (30 ECTS)
  • Research proposal
  • MSc Thesis (30 ECTS)


A great opportunity 

By completing an internship a student's knowledge, skills and abilities are enhanced. This is usually done through hands-on projects, and so, graduates are better prepared for their future careers. Students are assigned a supervisor within a company or institution and a full-time faculty member as a supervisor during the period of the internship. 


Students can complete 7,5 ECTS, 15 ECTS, or 30 ECTS, depending on the length of the internship. Internships of 30 ECTS are only available for students that complete their internship abroad. Generally, internships are unpaid. 

Students can choose between three options:

Option 1: Students apply for internship positions arranged by RU Department of Business Administration
with Icelandic companies.  

Option 2: Students arrange an internship with companies themselves and get the internship approved by RU  Department of Business Administration. 

Option 3: Students find international internships themselves, and get it approved by RU Department of Business Administration. 

Examples of companies and institutions where students have completed their internships 

Icelandair Group • Icelandair London • Icelandair Frankfurt • Össur • KPMG• Deloitte • PwC • E&Y • Landspítalinn • Síminn • Orkuveita Reykjavíkur • NOVA • Vodafone • Vífilfell • Ölgerðin • Virðing • Sameinaði lífeyrissjóðurinn • Pipar TBWA • Icelandair • Landsvirkjun • Advania • Alvogen • Landsbankinn • Mannvit • Nýherji • Reiknistofa bankanna • Eik fasteignafélag • Grant Thornton • Glamour • BDO • Sjóvá • Canadian Embassy • Viðskiptaráð • FESTI • Samtök Iðnaðarins.

Internships abroad

Students can apply for an Erasmus grant to complete 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.

To find an internship, a number of websites can be referenced:

RU students completing an internship abroad have generally received Erasmus grants. However, if the demand increases, students can apply for the Nordplus grant.

For further information, visit the International Office at RU.


Reykjavik University Campus

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

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. There are numerous paths for hiking and cycling in the neighbouring forest.


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.

Sports Facilities

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


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.


Application deadline

The application deadline is 30 April.

Applicants from outside the EU/EEA must submit an application prior to 1 February.

Admissions requirements

  • Bachelor's degree (at least 180 ECTS credits).

  • Students with a bachelor's degree that includes less than 30 ECTS credits in business administration are required to take an intensive preparatory course in business administration organized by RUSB before the start of the study program, and to take the course Fundamentals in Accounting and Finance (7.5 ECTS credits) in the first semester of the study programme.

  • Generally we require a first-class grade (GPA 7.25 or above) according to Icelandic grading scale in an undergraduate programme. 

  • Further education and professional experience benefit applicants in the evaluation process.

  • Excellent English language skills.

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])
  • Contact information for one to two individuals who can assess the ability of the applicant to pursue the programme. A letter of recommendation may be required.

  • For students whose first language is not English proof of English proficiency must be provided, based on, e.g., TOEFL or IELTS. Minimum English language test scores TOEFL: 577 (PBT) or 91 (iBT) or above OR IELTS: 6.5 or above, academic.

  • Accompanying documents need to submitted by the application deadline. Applicants are only summoned for an interview if they have submitted all required accompanying documents on time.

Tuition fees and evaluation of previous studies

Information about tuition fees: Tuition fees.

Evaluation of previous studies: If students have completed university-level courses, they can apply for those previous studies to be evaluated for transfer of credit. Rules and form for evaluation of previous studies Rules and form for evaluation of previous studies.

Contact us

Got any questions?

We welcome enquiries via e-mail or phone.


Sigrún Ólafsdóttir

Programme Administrator
(+354) 599 6331

Stefan Wendt

Programme Director


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