Reykjavik University's Department of psychology Administration has the mission to create, disseminate and apply knowledge to enhance the competitiveness and quality of life for individuals, organisations and society, guided by good ethics, sustainability and responsibility. Combining outstanding teaching, research excellence, industry relations, great people and ambition, the School is an internationally accredited school of business. The student body consists of approximately 600 undergraduates and 300 graduate students. 

About RU Department of Psychology

Undergraduate, graduate, and PhD

At present, the Department offers an EPAS accredited Business Administration (BSc), eight different Master's level degrees on subtopics of business administration, an AMBA accredited MBA programme and a PhD in business administration.


Logo of AMBA




International experience

RU business programmes emphasise an applied approach with a firm academic foundation. Among lecturers are professionals from affiliated industries. This close collaboration with business and industry, practical projects and internships give our students a competitive advantage in the labour market. Furthermore, out of the 120 courses being offered in our programmes, about a third are being taught by visiting faculty from well-renowned international universities. The Department of Business Administration emphasises quality of teaching, innovation, international scope and good relations to students. When students graduate they have a robust theoretical foundation, specialised skills and competencies as well as a strong sense of initiative.

  • Department Chair is Dr. Friðrik Már Baldursson
  • Administrative Director is Hrund Steingrímsdóttir 

Further information about the department can be found by contacting the faculty members. 

Boards and Councils

Departments Chair 

The Departments chair of the Department of Business Administration is appointed by the President of Reykjavik University following the recommendations of a selection committee. The Chair is responsible for the academic and financial performance of the Department. In addition to being responsible for strategy formulation and implementation, as well as other matters detailed in the RU Charter, the Chair is responsible for quality assurance and internal and external reviews. The Chair has the final decision-making power in matters related to students' rights and responsibilities.

Faculty Council

The Department of Business Administration Faculty Council consists of the Dean, chairs of research and programme councils, Programme Directors and other relevant members appointed by the Dean. The Faculty Council shall discuss all major matters concerning administration, teaching and research and shall approve of all amendments to rules and regulations within the department as well as proposals for new programmes or major programme revisions.

Programme Director

The Programme Director for each programme within Department of Business Administration is appointed by the Dean and is responsible for the daily management of the programme, its development and quality assurance as well as assigning teachers to courses. The Programme Director is a member and chair of the Programme Council.

Programme Council

The Programme Council for each programme within Department of Business Administration consists of the Programme Director and two full-time faculty members appointed by the Dean. The Programme Council ensures the quality of the study programme and sets its policies. The Programme Council is responsible for student admissions, development of study material, course structure, final project arrangements and any irregular student issues that arise.

Quality Council

The Quality Council for each programme within Department of Business Administration consists of the Programme Director, Programme Administrator, three student representatives from the programme (generally one from each study year). The Council is the forum of discussion and dialogue between students and programme management and a means to detect issues and irregularities at an early stage. The Quality Council meets every fortnight.

Advisory Board

The Advisory Board for each programme within Department of Business Administration consists of four to five representatives from the business community in addition to the Programme Director. Increasingly, these representatives are also RU alumni. The purpose of the Board is to provide a dialogue between the business community and the programme management and discuss trends and developments and how they affect the preparation of students for employment. The Board meets one or two times each academic year.

The advisory board for the BSc programme in Business Administration and Economics 

  • Baldur G. Jónsson, Human Resource Manager at Landsbankinn
  • Jón Bjarki Gunnarsson, Senior Manager at Deloitte
  • Jón Guðni Ómarsson, CFO at Íslandsbanki 
  • Páll Harðarson, CEO at Kauphöll Íslands
  • Rósa Björgvinsdóttir, Director at Landsbréf
  • Tómas Michael Reynisson, Analyst at the Central Bank of Iceland



December the 7th, 2012 Reykjavik University Department of Business Administration (before School of Business, RUBS) signed up to a participation agreement with the United Nations Principles of Responsible Management Education (PRME).


The PRME initiative is the first organized relationship between the United Nations and management-related academic institutions, business schools, and universities. Launched at the 2007 UN Global Compact Leaders' Summit in Geneva, the Principles provide an engagement framework for academic institutions to advance corporate sustainability and social responsibility through the incorporation of universal values into curricula and research.

To date, over 450 leading business schools and management-related academic institutions from more than 80 countries across the world are signatories of PRME. Reykjavik University Business School is proud to be a part of this ambitious group of business schools that shows that they are willing to take on the role of leaders when it comes to social responsibility and sustainability.

As an institution of higher education involved in the development of current and future managers, Reykjavik University Business School declares, by signing this agreement, its willingness to report on progress related to the implementation of the following principles to all our stakeholders:

1. Purpose - We will develop the capabilities of students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy.

2. Values - We will incorporate into our academic activities and curricula the values of global social responsibility as portrayed in international initiatives such as the United Nations Global Compact.

3. Method - We will create educational frameworks, materials, processes and environments that enable effective learning experiences for responsible leadership.

4. Research - We will engage in conceptual and empirical research that advances our understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value.

5. Partnership - We will interact with managers of business corporations to extend our knowledge of their challenges in meeting social and environmental responsibilities and to explore jointly effective approaches to meeting these challenges.

6. Dialogue - We will facilitate and support dialog and debate among educators, students, businesses, the government, consumers, media, civil society organisations and other interested groups and stakeholders on critical issues related to global social responsibility and sustainability.

RUSB second Sharing Information on Progress Report was published in December 2016 and is titled Developing Leaders Who Care. In this report the progress of the implementation of PRME‘s Six Principles are discussed and goals and objectives set for the next couple of years. 

The Reports can be found here:

Report 2016: Developing Leaders Who Care.

Report 2014: Developing Responsible Leaders. 

Further information regarding PRME can be found on PRME‘s webpage: www.unprme.org or by contacting Hrefna Sigridur Briem, director of BSc programme in Business and Economics hrefnab@ru.is.

Faculty and staff


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