Mathematics A (VIÐ102G)

Important issues in the mathematics of secondary school revisited.Linear and non-linear equations. Basic mathematics of finance. Differentiation, partial differentiation. Constrained and unconstrained optimization, Lagrange multiplilers. Integration. Elementary linear algebra.

Introduction to Marketing (VIÐ101G)

The objective of the course is to introduce students to the core concepts of marketing theory and marketing management. The course covers the marketing concept, marketing orientation, and marketing management. Analysis of the marketing environment is also discussed along with analysis of consumer behavior, marketing strategy, competition, and competitive advantage. Finally, the course focuses on the practical application of marketing concepts for success.

Introduction to Financial Accounting (VIÐ103G)

This course is intended to do the student able to read corporate financial statements. Fundamentals of financial accounting and financial reporting are introduced. The double entry model explained through the accounting equation. Presentation of the conceptual framework for accounting: assumptions, principles and concepts.  The logical relationship between individual chapters in financial statements is in foreground. Whose things have influence on shareholders equity? Main methods of financial statement analysis are presented, especially ratio analysis. Extensive exercises are covered in separate group sessions.

Microeconomics I (VIÐ105G)

The aim of the course is to teach students the basic principles of economic thinking and main theories and concepts in microeconomics. The topics covered include: Markets, specialisation and trade. Supply, demand, elasticity and government policies. Efficiency and welfare. The Icelandic tax system and the effects of taxation on market activity. Externalities, public goods and common resources. Firm behaviour and the organisation of industry. Consumer choice. Labour market, earnings and discrimination. Asymmetric information, political economy, behavioural economics.

Work Methods in Business Administration (VIÐ157G)

This course will discuss study techniques, critical thinking, ethics, group work, communication, listening and how to present projects. Students work on individual and group projects of various kinds.

The aim of the course is to provide students with basic skills in professional work; students acquire skills in source usage and how to write bibliography.

Business Statistics A (VIÐ263G)

Descriptive statistics, measures of location and variation. Frequency distributions. Probabilities, rules of probability, statistical expectation. Probability distributions. Sampling and sampling distributions. Inferences about means, standard deviations and proportions. Correlation. Linear regression. Exercises.

Computer Use and Spreadsheet (VIÐ201G)

This course is divided into practical and theoretical lines.

The practical part will examine all major parts of Excel with emphasis on financial calculations and data analysis. The course will introduce practical examples that will benefit students in other courses and at the workplace.

The theoretical part will provide overview over usage of computers in the workplace and some theoretical aspects of computer usage. It will look at aspects important in financing and operation of computer systems.

The student is expected to have a computer with practical knowledge of its operating system.

Management Accounting (VIÐ204G)

Introduction to management accounting. Most important cost terms will be presented and cost-volume-profit analysis. Different accounting systems around manufacturing costs and allocation of indirect costs. The difference between absorption costing and variable costing. Budgeting, standard costing and variance analysis. Performance evaluation of different departments and products and cost allocation. After this course the students should understand well the importance of management accounting for decision making in business.

Services Marketing (VIÐ205G)

The main objective of the course is to introduce the key concepts of service, i.e. the characteristics of service, specific issues related to service and how these issues affect services marketing and service solutions. The qualities and characteristics of service are discussed, the service triangle, the service gap, service consumer behavior, expectations and perceptions, as well as the importance of establishing a lasting relationship with customers. Furthermore, consideration is given to service design, standards and benchmarks, the service setting, the role of the customer in effective service implementation, the balance of service supply and demand, pricing, and considerations in the formulation of promotion strategy for service solutions. Upon completion of the course, students are expected to:

Have knowledge of the key concepts of service
Have knowledge and understanding of specific problems related to service
Have knowledge of the service triangle and service quality model
Be able to define the roles of customers and employees in effective service implementation
Have knowledge and understanding of concepts related to service design and service strategy
Be able to elaborate a simple promotion strategy for service solutions.

Introduction to Management (VIÐ258G)

The main objective of the course is that the students gain knowledge and understanding of key management concepts, theories and  tools or methods connected  to the manager‘s job.  The focus is on the managerial work and the human  resource management and communication in the workplace.

Diverse teaching methods will be used; lectures, guest lectures, discussions, project work, simulation, where the aim is to encourage interest, diligence and participation of students.

Macroeconomics I (HAG103G)

The course aims to give the students an insight into the main theories, concepts, topics, and principles of macroeconomics and macroeconomic activity. The course stresses both the analytical content and applied usefulness of the topics covered and how they relate to various current economic issues at home and abroad. A sound knowledge of macroeconomics prepares students for various other economics courses, and for life.

Business Statistics B (VIÐ311G)

Main objective of the course is students will be prepared to use of statistical methods in their work and in other courses. It is emphasized that students achieve fluency in the use of Excel for statistical calculations. Students gain an understanding of statistics, for life and work. Students learn to draw reasonable conclusions from data. Students learn to take into account uncertain variables in making decisions. The course focus on two variables regression analysis, multiple variables regression, additional topics, non-parametric statistic, analysis of variance, forecasting with tow time-series models, , quality assessment, and sampling: stratified, cluster, and other sampling methods.

Finance I (VIÐ301G)

The objectives in Financial Management I & II is that students can acquire knowledge and methods to:
* Basic knowledge of financial markets
* Evaluate the value of simple financial instruments on different timeline, calculate present value different cash flow of financial assets, projects and fixed assets.
* Techniques in financial management and planning in corporate finance.
* Sophisticated methods of Corporate Finance to solve complicated financial problems.

Business Law A (VIÐ302G)

This course deals with law and regulation applicable to commercial transactions and business organizations. The purpose of the course is to prepare students for the legal challenges they can expect to encounter as entrepreneurs and managers of private businesses . Topics covered include contracts, torts, negotiable instruments, security and guarantees, and bankruptcy. Laws applicable to business organization will also be studied and the fundamentals of securities laws.

International Business (VIÐ303G)

 The main objective of the course is to expand the students’ understanding of the global business environment and how it affects markets, production and the welfare of individuals. Students will learn about foreign trade and investment and the main economic institutions. Students will learn how to evaluate market potential and will be introduced to cultural differences and human resource in different markets. At the end of the course the students should have a good overview over world trade and distant markets will seem closer than at the beginning. The most common forms of international trade will be discussed and the students should learn what a company has to do in order to change from a domestic firm to an international one and what alternatives it can choose from.

The aim of this course is to provide an integrated basic understanding of the complexity of the international business environment and the challenges it poses for firms engaged in cross- border activities. For example, emphasis is put on the differences among countries and how these differences are linked with the various strategic choices firms adopt in order to compete internationally. By the end of the course students will enhance their ability to more effectively explain, interpret and synthesise international business practices in multidisciplinary discourse.

Microeconomics II (HAG201G)

Intermediate microeconomic theory. Basic factors of price theory, uncertainty, including analysis of demand, costs of production and supply relationships, and price and output determination under various market structures, market failures and public choice.

Financial Accounting (VIÐ401G)

This course is a continuation of the introductory course. The main emphasis here is on the preparation of financial statement, fx. allowance for doubtful accounts, depreciation af property, plant and equipment, goodwill and other intangible assets, inventories valuation, fair value of securities and equities, deferred taxes etc. Preparation of cash-flow statement. In this context the Icelandic legal regulation of accounting and International Financial Accounting Standards (IFRS/IAS) are being dealt with. Calculation of income tax will be presented. Extensive exercises are covered in separate group sessions. After this course students should be capable of preparing financial statement for a comparatively simple company.

Management and Organisational Design (VIÐ415G)

The learning path starts with overall orientation and definitions. The focus at first is on challenges in the external environment and how organizational effectiveness can be assessed. Then the focus is on understanding and analysing the structure of organizations and on what should be in the picture when an organizational structure is designed. Influences and challenges related to organizational design and ethical and societal challenges are reviewed. Innovation, knowledge, information, and decision making in the context of organizational change are also covered. Then the impact of artificial intelligence on the structure and working methods of organizations will be discussed.

Finance II (VIÐ402G)

Good corporate governance and skilled financial management are the key ingredients for a successfully run corporation.  Finance II builds on the course Finance I, and has its main focus on the corporation and how it is being run from financial management point of view.  The course covers topics in corporate governance, how incentives are embedded in the operation of the firm and what economic and financial outcomes are to be expected from the incentive structure.  The main focus of the course is financial management; the firm’s capital structure, short and long term financing, capital budgeting, dividend policies, short term financial planning as well as financial distress.

Business Plans (VIÐ528G)

In the course, students gain knowledge and experience in business planning, incorporating content from the core courses in their studies that provides them with very practical preparation for their career. Furthermore, the course enhances students’ creative abilities, in creating both new products and new jobs, should they establish their own enterprise. Students are trained in developing and pitching their ideas to investors. The business plan and operations plan is a document outlining the objectives of the company, substantiated with numerical and factual data. A business plan also presents how to attain its objectives through actions relating to income, expenditures, internal processes, and staffing. Business plans are also important for anyone involved in the financing of companies, be it financial institutions or venture capitalists, since such plans should contain most of the information they need to determine what it is that they are investing in and how much risk that investment entails.

The objective of the course is that students can create and develop their own business concepts and present business plans in relation to e.g. strategic management.

Methodology (VIÐ525G)

The goal of course is to introduce students to methodology. The course will go over how to conduct research, including the research question, design, data collection and statistics.

UII – Business Intelligence and Data Processing (VIÐ502G)

This course focuses on tools for data analysis as basis for planning and decision support in the business environment. The course will introduce Databases, Data Warehouses, SQL Query Language. Introduction to Business Intelligence, application areas and its‘ role in planning and decision making. Introduction to data warehouse, business intelligence, artificial intelligence, data science and electronic trade. 

Focus is on practical examples with variouse tools, like Excel, Access, og Power BI.

Financial Instruments (VIÐ503G)

This course starts with looking at interest rate markets and how the zero coupon curve is derived. Valuation of different kind of bonds is covered along with the characteristics and risk factors of the major listed bonds, with special emphasis on the Icelandic market. Next the valuation of derivatives is covered along with the main characteristics. Special emphasis is placed on futures/forwards, swaps and options.  The reasons behind derivatives trading are covered and what the main risk factors are.

Financial Markets (VIÐ505G)

Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend, if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century. The Icelandic Banking System collapse offers myriad of examples and cases that provide a fruitful ground for learning. A frequent reference will be made to those throughout the course.

Financial statement analysis (VIÐ626G)

The analysis of financial statements is the foundation for efficient decision making and includes many aspects of business operations. The objective of the course is to enhance students’ abilities to interpret and analyze financial statements from different perspectives.

This can include the decision making regarding investments, debt issuance, or comparative analysis of firms and the limitations of such comparisons.

Frequently firms are undergoing restructuring, which means that it is insufficient to simply focus on comparing the differences in operating results from year to year and to draw conclusions from that analysis. The course aims to increase students’ abilities to understand which items are relevant based on different analytical approaches.

Teaching materials include a textbook as well as sources from firms listed on the Nasdaq Iceland main market as well as some firms listed in non-domestic markets. This allows students to familiarize themselves with sourcing and analyzing real-world data.

The course covers the relationship between valuations and items in the financial statements as well as long term financing debt issues and on which issues such decisions are based, e.g. from the perspective of financial institutions’ credit committees. Both of these items concern the financing of firms. The course also covers the analysis of the utilization of the financial assets of firms, how that utilization is reported, and how the valuation of assets is presented in the balance sheet. In addition, the presentation of information within disclosures is examined, based on actual firms, such as balance sheets, income statement, and/or cash flow statements, as well as the relationship of this information to the increasingly extensive notes to the financial statements

Business Law B - Introduction to Financial Law (VIÐ601G)

The course reviews legislation and legal issues that concern the financial markets, corporate finance and operations. Legal environment of financial companies will be reviewed, securities law, liability for experts, a chapter in the penal code act regarding wealth deeds and legal issues related to acquisitions and sales of corporations, due diligence, etc. The course will also review contracts and documents in the financial market, including loan-, purchase- and shareholder agreements.

Portfolio Management (VIÐ604G)

The theory behind decisions of investors and corporations regarding building and managing asset and liability portfolios. Risk management of corporations will also be covered.

The course is taught in English

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

Marketing Communications (VIÐ526G)

In the course, students will gain an understanding on how it is possible to built brand equity through integrated marketing communication. Students will get to know basic theories regarding marketing communication and planing. All major channels in marketing communication will be discussed and how they can be integrated. Students will also gain knowledge about different media and learn how to evaluate their feasibility in relations to target segments and available resources.
Through reading, lectures and communications in class, students will gain basic knowledge on concepts and theories involving marketing communications. Through working on an assignment involving designing a marketing communication plan, students will get training in how to apply the knowledge.
Students can expect to get insight from guest lectures.

Survey of the Icelandic Economy (HAG311G)

The purpose of this course is to give insights into various aspects of the Icelandic economy, past and present. Among the topics discussed are economic development, population, the labour market, industrial organization and policy, the monetary system, the public sector and foreign trade. Special emphasis is placed on current issues in the Icelandic economy and economic policy, i.e., by writing papers on topical matters. The course is closely related to Economics I.

Individual Taxation (VIÐ501G)

The course covers the principles of Icelandic tax law concerning tax liability and taxable income, including which items are tax deductible. A special emphasis will be placed on the filing of sources of income for individuals and the self-employed through solving problems and cases. The filing of tax returns for individuals, couples, and businesses will be introduced. The determination of benefits and tax credit will be discussed. The fundamental principles of tax law will be covered, along with re-assessment of taxes and the consequences of fraudulent filing. An overview will be given of the key principles of the laws on value added tax and the social insurance fee. Upon completion of the course a student shall be able to file tax returns for individuals and small businesses as well as appeal tax assessments that he/she deems incorrect.

Financial Statements A (VIÐ505M)

This course is designed for students on the F- and R-line (finance and accounting). The purpose with the course is that the students obtains knowledge and understanding on matters that management of companies needs to have to prepare financial statements in accordance with generally accepted accounting principles. In the course students, will learn about generally accepted accounting principles according to international accountings standards (IFRS) and icelandic GAAP. Among topics: Financial accounting and accounting standards, income statement, balance sheet and cash flow. Revenue recognition and cost accounting, inventories, accounts receivables, PPE, intangible assets, income tax, impairment test, accounting for financial instruments, liabilities and equity. Students will need to solve assignments during the course.

Introduction to Project Management (VIÐ506G)

This course focuses on a holistic approach to project management. The content deals with planning, scheduling, organizing, and controlling projects--for example, product development, construction, information systems, new businesses, and special events. The course includes major topics of Strategy, Priorities, Organization, Project Tools, and Leadership. Primary class emphasis is on the project management process and tools. Project management is becoming increasingly more important in today's world. Mastery of key tools and concepts could give you a significant competitive advantage in the marketplace.

Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

Human Resource Management (VIÐ509G)

In this course students will learn all about the main functions of HRM and HRM departments in companies, both from a theoretical and practical point of view. Students should gain understanding on the procedure of HRM within Icelandic companies as well as global. In this course students will analyse employment relations with a critical viewpoint.
Students should be prepared to work within HRM department after this course.

The Labour Market and its Development (VIÐ510G)

The aim of the course is to introduce to business students the field of industrial and employee relations and the main changes that have occurred in the labour market for the last decades. This course cover topics such as; theories of the labour market (unitary, conflict, social action, systems and Marxist theories), strike theories, corporatism, comparative European industrial relations, industrial democracy and employee involvement, institutionalisation of conflict, collective bargaining, role of trade unions, role of the state, role of employers association. Labor law, collective bargaining, strikes and strikes theories will be discussed. Finally main topics concerning employment relations will be discussed.

Marketing Research (VIÐ511G)

Definition of marketing research. Marketing research and science. Marketing research and decision making. Selection of research variables. Basic methods of collecting data. Secondary data. Bayesian analysis. The marketing research process. Construction of a questionnaire. Scaling. Attitude measurement. Sampling and its application to marketing problems. Data collection and the field force. Evaluation and research presentation. Experimentation.

Business and Intercultural Communication (VIÐ512G)

The course focuses on the practical aspects of doing business in an international and culturally diverse environment; on understanding the main obstacles that executives in international business face, the challenges of managing a culturally diverse workforce, and how cultural diversity affects all aspects of business. The main goal of the course is to develop the skills and intercultural competence to overcome those obstacles. To develop the skills to understand and deal with different cultures, we study theories and concepts of culture. To gain further insights into cultural dimensions, values, customs, and practices, we profile different national cultures. To understand international and intercultural business, we study how culture impacts the main areas of communication, management, marketing and finance. To comprehend how corporate cultures and sub-cultures cut across national cultures, we study different industries or business sectors. To develop students' intercultural communication skills, the classes are very interactive and students work on projects in culturally diverse teams, give presentations and write reports. The course is taught in English.

Introduction to Brand Management (VIÐ513G)

The focus is on brand management and relationship marketing. The key methods of relationship marketing are discussed and their application outlined. The role of brands and brand equity is covered, as well as the development of a strong brand. Different methods for assessing brand equity are discussed in addition to how brand strategy can be applied to maximize brand equity. Students shall take active part in lectures, discussions and project work.

Measuring Service Quality (VIÐ158M)

The objective of the course is for students to be able to prepare, implement, and utilize the results of service quality measurements in prioritizing improvements. The course is based on quantitative methodology and students’ ability to use statistics according to the methodology of social science.

Innovation and Sustainability in Fisheries (VIÐ302M)

In this course, students will gain insight into one of the cornerstones of the Icelandic economy, fisheries and aquaculture. Emphasis is placed on innovation, sustainability, full utilization of marine products, and the opportunities presented by technological advancements, artificial intelligence, and the circular economy. Participants will also learn how Icelandic fisheries and aquaculture compete internationally, contribute to the United Nations’ Sustainable Development Goals, and utilize Icelandic ingenuity to create added value.

Through project-based learning, students will work on realistic projects in collaboration with companies and institutions in the industry, addressing real-world challenges related to marketing, sustainability, technological advancement, and full utilization for increased value creation.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Creative Industries (VIÐ522G)

This course deals with the organisation of creative industries, which have been defined as "industries producing goods broadly associated with cultural artistic or entertainment values" (Caves, 2000). The aim is for the students to gain understanding of the peculiarities of creative industries, where parts of the 'industry' is dependent upon public support while other parts are profit oriented.

The course will be divided into lectures and discussion classes with visits from the creative industries in Iceland.

This course is for all students in the University and will be taught if there is enough participation.

Asian Business Studies (Japan and China) (VIÐ506M)

Students look at international trade between the West and Asia (China and Japan) from a macroeconomic point of view. Also use micro-perspective on companies doing business in Asia (China and Japan).

• Students look at how trade and investment patterns in the Asian region are shaped by the global political economy.
• Students will analyze individual companies and their business in the Asian market, how investments (FDI) are conducted by these companies and analyze their value chain.
• Students work on real-life examples (group projects) of companies doing business in Asia

More specific description:
This course is intended as an introduction to business operations and macroeconomic issues with special reference to Asia i.e. Japan and China. The course uses both theoretical definitions as well as real-life examples. The course is divided into 3 main parts:

• In the first part, the macroeconomic perspective on trade and investment in the Asian region will be discussed on the basis of individual data on trade, the consequences of the WTO as well as free trade agreements and their consequences, especially the China-Iceland free trade agreement and its consequences.
• The second part of the course will introduce a microperspective of companies doing business in Asia. Foreign direct investment (FDI) and international value chains (GVC) will be examined. A theoretical approach will be used to explain companies' choice of location due to FDI. Western companies entering Asia as well as Asian companies entering the western market will be in focus.
• The third part of the course goes into project work where students analyze a company that has operations in China or Japan or those Chinese / Japanese companies that have established themselves in Iceland. Students conduct a case study.

Consumer behaviour and marketing (VIÐ418G)

From a marketing point of view, understanding consumer behaviour is a fundamental element to be able to forcast and influence consumers’ demand for products and service, for understanding how consumers experience brands and to understand their reactions to marketing activities.

The course is based on discussions and assignments, which students work on both in the classroom and outside of the classroom. It is expected that students have gone through the reading material before each class so they can actively participate.

Business Taxation (VIÐ403M)

The course is intended as an introduction to tax law and tax practice applicable to business operations in Iceland and to offer some practice in solving simpler problems in this field. The term business operations refers on the one hand to various forms of legal persons and on the other hand to individual engaged in business operations or independent services in their own name. At the end of the course the student will be familiar with the taxes and duties levied on business operations in Iceland, the basic provisions of Icelandic law and other provisions on which the levy of the duty is based and certain procedures in solving tax problems.

Diversity Management and Inclusion (VIÐ416G)

Diversity management is a complex and multifaceted phenomenon. In this course we will capture this complexity by bringing insights from sociology, psychology, international relations, history, management, business and organization studies. Studying international perspectives on diversity management provides a wealth of insight into how diversity may be managed under different national systems and institutions. This course is designed to equip you with an understanding of basic concepts and principles of diversity management which should assist you in interacting effectively and appropriately with people with various backgrounds and abilities. It will also help you understand how diversity interfaces with topics of current interest within business and management. The workplace is a strong situation that enables subtle prejudice and stereotypes to manifest. To develop effective strategies for diversity management, it is imperative for managers to develop theoretical and conceptual frameworks and skills that will enhance their understanding of the specific contexts and issues they wish to explore and change.

Macroeconomics II (HAG209G)

Intermediate macroeconomics. Main topics: National income accounting. Economic growth. Unemployment and inflation. Aggregate demand and the goods market. Public finance and fiscal policy. Aggregate supply and the labour market. Monetary and fiscal policy in an open economy.

Communication and Human Interaction (VIÐ406G)

The objective of the course is to develop students' professional communication skills. The course aims to enhance their vocal qualities and connection with the audience. It aids them in becoming fluent and confident speakers, and effective and efficient writers, who know how to state a clear main idea and provide clear and structured substantiation for their claims. The course focuses on: projecting the voice, pronouncing clearly, breathing effectively, and relaxing the voice. Developing vocal quality and the relationship with the audience. Anxiety and ways to conquer it. Clear and organized structure. Communicating in meetings and small groups. Students give presentations throughout the course. Written assignments, such as CVs, proposals, and reports, focus on audience analysis, clarity, organization, and effective word choice. The course is taught in English.

Marketing Plans (VIÐ602G)

The focus of the course is on the methodology for developing marketing plans, from market analysis to action plans.  Methods for analyzing market position, for creating marketing strategy, and for the selection of marketing tactics are discussed.
Students develop marketing plans for goods or services, working in groups of four.  Students will contact an organization and develop a marketing plan in alliance with that specific organization.
The course format is a mix of lectures, discussions and project work.

Financial Statements B (VIÐ604M)

This course is a continuation of Financial Statements A, which is taught in the fall semester. It is expected that students of this course are fully familiar with the content of the course Financial Statements A.
The course will cover the principles in accounting under both IFRS and Icelandic law. Topics: cash flow, income tax, earnings per share, financial instruments, finance leases, assets held for sale and discontinued operations, investment properties, provision, information in the financial statements and related parties.
Assignments are part of the course, and students will need submit them.

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Strategy Formation and Implementation (VIÐ609G)

The learning path is in line with the structure of the textbook, starts with overall orientation and definitions. Then the focus is on external and internal analysis in order to assess the strategic situation of companies. After that issues of strategy development are covered and that of strategy implementation. The class will use different teaching methods and the students are required to work on cases and examples of real companies.

Spark Social (HSÞ602G)

The University of Iceland offers this transdisciplinary course for senior graduate students registered in all schools and disciplines across the University. The course is also open to students from all Aurora universities. The course combines online content, virtual sessions that take place over the semester, and a five-day capstone experience on-site at the university of Iceland.

Participants will gain insights into current and future challenges and learn about how these are being addressed. Participants will work in collaborative interdisciplinary teams under the guidance of experienced industry and academic leaders to apply their new knowledge toward developing their own recommendations for tackling immediate and foreseeable challenges. Students will gain a deeper understanding of their own strengths as well as developing methods and approaches for innovative thinking under the guidance of experienced teachers.

The course incorporates the approach of Social Entrepreneurship and Innovation, which is part of the Aurora Competency Framework. This concept includes both social entrepreneurship, a way to achieve social change by employing entrepreneurial principles with or without the formation of new organizations, and social innovation, a process of developing and deploying effective solutions to challenging and often systemic social and environmental issues in support of social progress.

The course relies on brief assignments worked on during the virtual sessions, intense group work on the days of the on-site capstone session, and preparation of final deliverable, which is presented on the final day of the on-site session.

The course is 6 ECTS credits. Successful completion of the course depends on completion of the preparatory work, participation in the group work, and completion of a satisfactory final project and deliverable during the on-site capstone session.

Digital marketing (VIÐ625G)

In order to meet the growing competition in the modern business environment, businesses and executives need to acquire skills to leverage the opportunities offered by the ever-changing digital technology in marketing. The aim of the course is to enhance the professional knowledge of students in this field and thereby their competitiveness in the labor market.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Operations Management (VIÐ404G)

Welcome to Operations Management!

Ever noticed how everything around us seems to somehow just work? That's what this course is all about – uncovering the fascinating world of processes in businesses and our daily lives. We'll explore how things get made, from the smallest gadget in your hand to the largest machines. It's not just about factories and assembly lines; we'll see how everything from your favourite coffee shop to the latest tech companies use processes to deliver what we love. We'll dive into how to design these processes, keep them running smoothly, and constantly improve them.

So get ready to look at the world around you in a whole new way, as a series of amazing processes making our lives better. Get ready to see the world like Operations Managers.

Mathematics A (VIÐ102G)

Important issues in the mathematics of secondary school revisited.Linear and non-linear equations. Basic mathematics of finance. Differentiation, partial differentiation. Constrained and unconstrained optimization, Lagrange multiplilers. Integration. Elementary linear algebra.

Introduction to Marketing (VIÐ101G)

The objective of the course is to introduce students to the core concepts of marketing theory and marketing management. The course covers the marketing concept, marketing orientation, and marketing management. Analysis of the marketing environment is also discussed along with analysis of consumer behavior, marketing strategy, competition, and competitive advantage. Finally, the course focuses on the practical application of marketing concepts for success.

Introduction to Financial Accounting (VIÐ103G)

This course is intended to do the student able to read corporate financial statements. Fundamentals of financial accounting and financial reporting are introduced. The double entry model explained through the accounting equation. Presentation of the conceptual framework for accounting: assumptions, principles and concepts.  The logical relationship between individual chapters in financial statements is in foreground. Whose things have influence on shareholders equity? Main methods of financial statement analysis are presented, especially ratio analysis. Extensive exercises are covered in separate group sessions.

Microeconomics I (VIÐ105G)

The aim of the course is to teach students the basic principles of economic thinking and main theories and concepts in microeconomics. The topics covered include: Markets, specialisation and trade. Supply, demand, elasticity and government policies. Efficiency and welfare. The Icelandic tax system and the effects of taxation on market activity. Externalities, public goods and common resources. Firm behaviour and the organisation of industry. Consumer choice. Labour market, earnings and discrimination. Asymmetric information, political economy, behavioural economics.

Work Methods in Business Administration (VIÐ157G)

This course will discuss study techniques, critical thinking, ethics, group work, communication, listening and how to present projects. Students work on individual and group projects of various kinds.

The aim of the course is to provide students with basic skills in professional work; students acquire skills in source usage and how to write bibliography.

Business Statistics A (VIÐ263G)

Descriptive statistics, measures of location and variation. Frequency distributions. Probabilities, rules of probability, statistical expectation. Probability distributions. Sampling and sampling distributions. Inferences about means, standard deviations and proportions. Correlation. Linear regression. Exercises.

Computer Use and Spreadsheet (VIÐ201G)

This course is divided into practical and theoretical lines.

The practical part will examine all major parts of Excel with emphasis on financial calculations and data analysis. The course will introduce practical examples that will benefit students in other courses and at the workplace.

The theoretical part will provide overview over usage of computers in the workplace and some theoretical aspects of computer usage. It will look at aspects important in financing and operation of computer systems.

The student is expected to have a computer with practical knowledge of its operating system.

Management Accounting (VIÐ204G)

Introduction to management accounting. Most important cost terms will be presented and cost-volume-profit analysis. Different accounting systems around manufacturing costs and allocation of indirect costs. The difference between absorption costing and variable costing. Budgeting, standard costing and variance analysis. Performance evaluation of different departments and products and cost allocation. After this course the students should understand well the importance of management accounting for decision making in business.

Services Marketing (VIÐ205G)

The main objective of the course is to introduce the key concepts of service, i.e. the characteristics of service, specific issues related to service and how these issues affect services marketing and service solutions. The qualities and characteristics of service are discussed, the service triangle, the service gap, service consumer behavior, expectations and perceptions, as well as the importance of establishing a lasting relationship with customers. Furthermore, consideration is given to service design, standards and benchmarks, the service setting, the role of the customer in effective service implementation, the balance of service supply and demand, pricing, and considerations in the formulation of promotion strategy for service solutions. Upon completion of the course, students are expected to:

Have knowledge of the key concepts of service
Have knowledge and understanding of specific problems related to service
Have knowledge of the service triangle and service quality model
Be able to define the roles of customers and employees in effective service implementation
Have knowledge and understanding of concepts related to service design and service strategy
Be able to elaborate a simple promotion strategy for service solutions.

Introduction to Management (VIÐ258G)

The main objective of the course is that the students gain knowledge and understanding of key management concepts, theories and  tools or methods connected  to the manager‘s job.  The focus is on the managerial work and the human  resource management and communication in the workplace.

Diverse teaching methods will be used; lectures, guest lectures, discussions, project work, simulation, where the aim is to encourage interest, diligence and participation of students.

Business Plans (VIÐ528G)

In the course, students gain knowledge and experience in business planning, incorporating content from the core courses in their studies that provides them with very practical preparation for their career. Furthermore, the course enhances students’ creative abilities, in creating both new products and new jobs, should they establish their own enterprise. Students are trained in developing and pitching their ideas to investors. The business plan and operations plan is a document outlining the objectives of the company, substantiated with numerical and factual data. A business plan also presents how to attain its objectives through actions relating to income, expenditures, internal processes, and staffing. Business plans are also important for anyone involved in the financing of companies, be it financial institutions or venture capitalists, since such plans should contain most of the information they need to determine what it is that they are investing in and how much risk that investment entails.

The objective of the course is that students can create and develop their own business concepts and present business plans in relation to e.g. strategic management.

Business Statistics B (VIÐ311G)

Main objective of the course is students will be prepared to use of statistical methods in their work and in other courses. It is emphasized that students achieve fluency in the use of Excel for statistical calculations. Students gain an understanding of statistics, for life and work. Students learn to draw reasonable conclusions from data. Students learn to take into account uncertain variables in making decisions. The course focus on two variables regression analysis, multiple variables regression, additional topics, non-parametric statistic, analysis of variance, forecasting with tow time-series models, , quality assessment, and sampling: stratified, cluster, and other sampling methods.

Finance I (VIÐ301G)

The objectives in Financial Management I & II is that students can acquire knowledge and methods to:
* Basic knowledge of financial markets
* Evaluate the value of simple financial instruments on different timeline, calculate present value different cash flow of financial assets, projects and fixed assets.
* Techniques in financial management and planning in corporate finance.
* Sophisticated methods of Corporate Finance to solve complicated financial problems.

Business Law A (VIÐ302G)

This course deals with law and regulation applicable to commercial transactions and business organizations. The purpose of the course is to prepare students for the legal challenges they can expect to encounter as entrepreneurs and managers of private businesses . Topics covered include contracts, torts, negotiable instruments, security and guarantees, and bankruptcy. Laws applicable to business organization will also be studied and the fundamentals of securities laws.

International Business (VIÐ303G)

 The main objective of the course is to expand the students’ understanding of the global business environment and how it affects markets, production and the welfare of individuals. Students will learn about foreign trade and investment and the main economic institutions. Students will learn how to evaluate market potential and will be introduced to cultural differences and human resource in different markets. At the end of the course the students should have a good overview over world trade and distant markets will seem closer than at the beginning. The most common forms of international trade will be discussed and the students should learn what a company has to do in order to change from a domestic firm to an international one and what alternatives it can choose from.

The aim of this course is to provide an integrated basic understanding of the complexity of the international business environment and the challenges it poses for firms engaged in cross- border activities. For example, emphasis is put on the differences among countries and how these differences are linked with the various strategic choices firms adopt in order to compete internationally. By the end of the course students will enhance their ability to more effectively explain, interpret and synthesise international business practices in multidisciplinary discourse.

Financial statement analysis (VIÐ626G)

The analysis of financial statements is the foundation for efficient decision making and includes many aspects of business operations. The objective of the course is to enhance students’ abilities to interpret and analyze financial statements from different perspectives.

This can include the decision making regarding investments, debt issuance, or comparative analysis of firms and the limitations of such comparisons.

Frequently firms are undergoing restructuring, which means that it is insufficient to simply focus on comparing the differences in operating results from year to year and to draw conclusions from that analysis. The course aims to increase students’ abilities to understand which items are relevant based on different analytical approaches.

Teaching materials include a textbook as well as sources from firms listed on the Nasdaq Iceland main market as well as some firms listed in non-domestic markets. This allows students to familiarize themselves with sourcing and analyzing real-world data.

The course covers the relationship between valuations and items in the financial statements as well as long term financing debt issues and on which issues such decisions are based, e.g. from the perspective of financial institutions’ credit committees. Both of these items concern the financing of firms. The course also covers the analysis of the utilization of the financial assets of firms, how that utilization is reported, and how the valuation of assets is presented in the balance sheet. In addition, the presentation of information within disclosures is examined, based on actual firms, such as balance sheets, income statement, and/or cash flow statements, as well as the relationship of this information to the increasingly extensive notes to the financial statements

Management and Organisational Design (VIÐ415G)

The learning path starts with overall orientation and definitions. The focus at first is on challenges in the external environment and how organizational effectiveness can be assessed. Then the focus is on understanding and analysing the structure of organizations and on what should be in the picture when an organizational structure is designed. Influences and challenges related to organizational design and ethical and societal challenges are reviewed. Innovation, knowledge, information, and decision making in the context of organizational change are also covered. Then the impact of artificial intelligence on the structure and working methods of organizations will be discussed.

Finance II (VIÐ402G)

Good corporate governance and skilled financial management are the key ingredients for a successfully run corporation.  Finance II builds on the course Finance I, and has its main focus on the corporation and how it is being run from financial management point of view.  The course covers topics in corporate governance, how incentives are embedded in the operation of the firm and what economic and financial outcomes are to be expected from the incentive structure.  The main focus of the course is financial management; the firm’s capital structure, short and long term financing, capital budgeting, dividend policies, short term financial planning as well as financial distress.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

Methodology (VIÐ525G)

The goal of course is to introduce students to methodology. The course will go over how to conduct research, including the research question, design, data collection and statistics.

Macroeconomics I (HAG103G)

The course aims to give the students an insight into the main theories, concepts, topics, and principles of macroeconomics and macroeconomic activity. The course stresses both the analytical content and applied usefulness of the topics covered and how they relate to various current economic issues at home and abroad. A sound knowledge of macroeconomics prepares students for various other economics courses, and for life.

The Labour Market and its Development (VIÐ510G)

The aim of the course is to introduce to business students the field of industrial and employee relations and the main changes that have occurred in the labour market for the last decades. This course cover topics such as; theories of the labour market (unitary, conflict, social action, systems and Marxist theories), strike theories, corporatism, comparative European industrial relations, industrial democracy and employee involvement, institutionalisation of conflict, collective bargaining, role of trade unions, role of the state, role of employers association. Labor law, collective bargaining, strikes and strikes theories will be discussed. Finally main topics concerning employment relations will be discussed.

UII – Business Intelligence and Data Processing (VIÐ502G)

This course focuses on tools for data analysis as basis for planning and decision support in the business environment. The course will introduce Databases, Data Warehouses, SQL Query Language. Introduction to Business Intelligence, application areas and its‘ role in planning and decision making. Introduction to data warehouse, business intelligence, artificial intelligence, data science and electronic trade. 

Focus is on practical examples with variouse tools, like Excel, Access, og Power BI.

Financial Instruments (VIÐ503G)

This course starts with looking at interest rate markets and how the zero coupon curve is derived. Valuation of different kind of bonds is covered along with the characteristics and risk factors of the major listed bonds, with special emphasis on the Icelandic market. Next the valuation of derivatives is covered along with the main characteristics. Special emphasis is placed on futures/forwards, swaps and options.  The reasons behind derivatives trading are covered and what the main risk factors are.

Financial Statements A (VIÐ505M)

This course is designed for students on the F- and R-line (finance and accounting). The purpose with the course is that the students obtains knowledge and understanding on matters that management of companies needs to have to prepare financial statements in accordance with generally accepted accounting principles. In the course students, will learn about generally accepted accounting principles according to international accountings standards (IFRS) and icelandic GAAP. Among topics: Financial accounting and accounting standards, income statement, balance sheet and cash flow. Revenue recognition and cost accounting, inventories, accounts receivables, PPE, intangible assets, income tax, impairment test, accounting for financial instruments, liabilities and equity. Students will need to solve assignments during the course.

Financial Markets (VIÐ505G)

Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend, if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century. The Icelandic Banking System collapse offers myriad of examples and cases that provide a fruitful ground for learning. A frequent reference will be made to those throughout the course.

Introduction to Project Management (VIÐ506G)

This course focuses on a holistic approach to project management. The content deals with planning, scheduling, organizing, and controlling projects--for example, product development, construction, information systems, new businesses, and special events. The course includes major topics of Strategy, Priorities, Organization, Project Tools, and Leadership. Primary class emphasis is on the project management process and tools. Project management is becoming increasingly more important in today's world. Mastery of key tools and concepts could give you a significant competitive advantage in the marketplace.

Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

Human Resource Management (VIÐ509G)

In this course students will learn all about the main functions of HRM and HRM departments in companies, both from a theoretical and practical point of view. Students should gain understanding on the procedure of HRM within Icelandic companies as well as global. In this course students will analyse employment relations with a critical viewpoint.
Students should be prepared to work within HRM department after this course.

Marketing Research (VIÐ511G)

Definition of marketing research. Marketing research and science. Marketing research and decision making. Selection of research variables. Basic methods of collecting data. Secondary data. Bayesian analysis. The marketing research process. Construction of a questionnaire. Scaling. Attitude measurement. Sampling and its application to marketing problems. Data collection and the field force. Evaluation and research presentation. Experimentation.

Business and Intercultural Communication (VIÐ512G)

The course focuses on the practical aspects of doing business in an international and culturally diverse environment; on understanding the main obstacles that executives in international business face, the challenges of managing a culturally diverse workforce, and how cultural diversity affects all aspects of business. The main goal of the course is to develop the skills and intercultural competence to overcome those obstacles. To develop the skills to understand and deal with different cultures, we study theories and concepts of culture. To gain further insights into cultural dimensions, values, customs, and practices, we profile different national cultures. To understand international and intercultural business, we study how culture impacts the main areas of communication, management, marketing and finance. To comprehend how corporate cultures and sub-cultures cut across national cultures, we study different industries or business sectors. To develop students' intercultural communication skills, the classes are very interactive and students work on projects in culturally diverse teams, give presentations and write reports. The course is taught in English.

Introduction to Brand Management (VIÐ513G)

The focus is on brand management and relationship marketing. The key methods of relationship marketing are discussed and their application outlined. The role of brands and brand equity is covered, as well as the development of a strong brand. Different methods for assessing brand equity are discussed in addition to how brand strategy can be applied to maximize brand equity. Students shall take active part in lectures, discussions and project work.

Individual Taxation (VIÐ501G)

The course covers the principles of Icelandic tax law concerning tax liability and taxable income, including which items are tax deductible. A special emphasis will be placed on the filing of sources of income for individuals and the self-employed through solving problems and cases. The filing of tax returns for individuals, couples, and businesses will be introduced. The determination of benefits and tax credit will be discussed. The fundamental principles of tax law will be covered, along with re-assessment of taxes and the consequences of fraudulent filing. An overview will be given of the key principles of the laws on value added tax and the social insurance fee. Upon completion of the course a student shall be able to file tax returns for individuals and small businesses as well as appeal tax assessments that he/she deems incorrect.

Marketing Communications (VIÐ526G)

In the course, students will gain an understanding on how it is possible to built brand equity through integrated marketing communication. Students will get to know basic theories regarding marketing communication and planing. All major channels in marketing communication will be discussed and how they can be integrated. Students will also gain knowledge about different media and learn how to evaluate their feasibility in relations to target segments and available resources.
Through reading, lectures and communications in class, students will gain basic knowledge on concepts and theories involving marketing communications. Through working on an assignment involving designing a marketing communication plan, students will get training in how to apply the knowledge.
Students can expect to get insight from guest lectures.

Measuring Service Quality (VIÐ158M)

The objective of the course is for students to be able to prepare, implement, and utilize the results of service quality measurements in prioritizing improvements. The course is based on quantitative methodology and students’ ability to use statistics according to the methodology of social science.

Innovation and Sustainability in Fisheries (VIÐ302M)

In this course, students will gain insight into one of the cornerstones of the Icelandic economy, fisheries and aquaculture. Emphasis is placed on innovation, sustainability, full utilization of marine products, and the opportunities presented by technological advancements, artificial intelligence, and the circular economy. Participants will also learn how Icelandic fisheries and aquaculture compete internationally, contribute to the United Nations’ Sustainable Development Goals, and utilize Icelandic ingenuity to create added value.

Through project-based learning, students will work on realistic projects in collaboration with companies and institutions in the industry, addressing real-world challenges related to marketing, sustainability, technological advancement, and full utilization for increased value creation.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Creative Industries (VIÐ522G)

This course deals with the organisation of creative industries, which have been defined as "industries producing goods broadly associated with cultural artistic or entertainment values" (Caves, 2000). The aim is for the students to gain understanding of the peculiarities of creative industries, where parts of the 'industry' is dependent upon public support while other parts are profit oriented.

The course will be divided into lectures and discussion classes with visits from the creative industries in Iceland.

This course is for all students in the University and will be taught if there is enough participation.

Asian Business Studies (Japan and China) (VIÐ506M)

Students look at international trade between the West and Asia (China and Japan) from a macroeconomic point of view. Also use micro-perspective on companies doing business in Asia (China and Japan).

• Students look at how trade and investment patterns in the Asian region are shaped by the global political economy.
• Students will analyze individual companies and their business in the Asian market, how investments (FDI) are conducted by these companies and analyze their value chain.
• Students work on real-life examples (group projects) of companies doing business in Asia

More specific description:
This course is intended as an introduction to business operations and macroeconomic issues with special reference to Asia i.e. Japan and China. The course uses both theoretical definitions as well as real-life examples. The course is divided into 3 main parts:

• In the first part, the macroeconomic perspective on trade and investment in the Asian region will be discussed on the basis of individual data on trade, the consequences of the WTO as well as free trade agreements and their consequences, especially the China-Iceland free trade agreement and its consequences.
• The second part of the course will introduce a microperspective of companies doing business in Asia. Foreign direct investment (FDI) and international value chains (GVC) will be examined. A theoretical approach will be used to explain companies' choice of location due to FDI. Western companies entering Asia as well as Asian companies entering the western market will be in focus.
• The third part of the course goes into project work where students analyze a company that has operations in China or Japan or those Chinese / Japanese companies that have established themselves in Iceland. Students conduct a case study.

Business Taxation (VIÐ403M)

The course is intended as an introduction to tax law and tax practice applicable to business operations in Iceland and to offer some practice in solving simpler problems in this field. The term business operations refers on the one hand to various forms of legal persons and on the other hand to individual engaged in business operations or independent services in their own name. At the end of the course the student will be familiar with the taxes and duties levied on business operations in Iceland, the basic provisions of Icelandic law and other provisions on which the levy of the duty is based and certain procedures in solving tax problems.

Financial Accounting (VIÐ401G)

This course is a continuation of the introductory course. The main emphasis here is on the preparation of financial statement, fx. allowance for doubtful accounts, depreciation af property, plant and equipment, goodwill and other intangible assets, inventories valuation, fair value of securities and equities, deferred taxes etc. Preparation of cash-flow statement. In this context the Icelandic legal regulation of accounting and International Financial Accounting Standards (IFRS/IAS) are being dealt with. Calculation of income tax will be presented. Extensive exercises are covered in separate group sessions. After this course students should be capable of preparing financial statement for a comparatively simple company.

Business Law B - Introduction to Financial Law (VIÐ601G)

The course reviews legislation and legal issues that concern the financial markets, corporate finance and operations. Legal environment of financial companies will be reviewed, securities law, liability for experts, a chapter in the penal code act regarding wealth deeds and legal issues related to acquisitions and sales of corporations, due diligence, etc. The course will also review contracts and documents in the financial market, including loan-, purchase- and shareholder agreements.

Marketing Plans (VIÐ602G)

The focus of the course is on the methodology for developing marketing plans, from market analysis to action plans.  Methods for analyzing market position, for creating marketing strategy, and for the selection of marketing tactics are discussed.
Students develop marketing plans for goods or services, working in groups of four.  Students will contact an organization and develop a marketing plan in alliance with that specific organization.
The course format is a mix of lectures, discussions and project work.

Financial Statements B (VIÐ604M)

This course is a continuation of Financial Statements A, which is taught in the fall semester. It is expected that students of this course are fully familiar with the content of the course Financial Statements A.
The course will cover the principles in accounting under both IFRS and Icelandic law. Topics: cash flow, income tax, earnings per share, financial instruments, finance leases, assets held for sale and discontinued operations, investment properties, provision, information in the financial statements and related parties.
Assignments are part of the course, and students will need submit them.

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Strategy Formation and Implementation (VIÐ609G)

The learning path is in line with the structure of the textbook, starts with overall orientation and definitions. Then the focus is on external and internal analysis in order to assess the strategic situation of companies. After that issues of strategy development are covered and that of strategy implementation. The class will use different teaching methods and the students are required to work on cases and examples of real companies.

Consumer behaviour and marketing (VIÐ418G)

From a marketing point of view, understanding consumer behaviour is a fundamental element to be able to forcast and influence consumers’ demand for products and service, for understanding how consumers experience brands and to understand their reactions to marketing activities.

The course is based on discussions and assignments, which students work on both in the classroom and outside of the classroom. It is expected that students have gone through the reading material before each class so they can actively participate.

Portfolio Management (VIÐ604G)

The theory behind decisions of investors and corporations regarding building and managing asset and liability portfolios. Risk management of corporations will also be covered.

The course is taught in English

Diversity Management and Inclusion (VIÐ416G)

Diversity management is a complex and multifaceted phenomenon. In this course we will capture this complexity by bringing insights from sociology, psychology, international relations, history, management, business and organization studies. Studying international perspectives on diversity management provides a wealth of insight into how diversity may be managed under different national systems and institutions. This course is designed to equip you with an understanding of basic concepts and principles of diversity management which should assist you in interacting effectively and appropriately with people with various backgrounds and abilities. It will also help you understand how diversity interfaces with topics of current interest within business and management. The workplace is a strong situation that enables subtle prejudice and stereotypes to manifest. To develop effective strategies for diversity management, it is imperative for managers to develop theoretical and conceptual frameworks and skills that will enhance their understanding of the specific contexts and issues they wish to explore and change.

Communication and Human Interaction (VIÐ406G)

The objective of the course is to develop students' professional communication skills. The course aims to enhance their vocal qualities and connection with the audience. It aids them in becoming fluent and confident speakers, and effective and efficient writers, who know how to state a clear main idea and provide clear and structured substantiation for their claims. The course focuses on: projecting the voice, pronouncing clearly, breathing effectively, and relaxing the voice. Developing vocal quality and the relationship with the audience. Anxiety and ways to conquer it. Clear and organized structure. Communicating in meetings and small groups. Students give presentations throughout the course. Written assignments, such as CVs, proposals, and reports, focus on audience analysis, clarity, organization, and effective word choice. The course is taught in English.

Spark Social (HSÞ602G)

The University of Iceland offers this transdisciplinary course for senior graduate students registered in all schools and disciplines across the University. The course is also open to students from all Aurora universities. The course combines online content, virtual sessions that take place over the semester, and a five-day capstone experience on-site at the university of Iceland.

Participants will gain insights into current and future challenges and learn about how these are being addressed. Participants will work in collaborative interdisciplinary teams under the guidance of experienced industry and academic leaders to apply their new knowledge toward developing their own recommendations for tackling immediate and foreseeable challenges. Students will gain a deeper understanding of their own strengths as well as developing methods and approaches for innovative thinking under the guidance of experienced teachers.

The course incorporates the approach of Social Entrepreneurship and Innovation, which is part of the Aurora Competency Framework. This concept includes both social entrepreneurship, a way to achieve social change by employing entrepreneurial principles with or without the formation of new organizations, and social innovation, a process of developing and deploying effective solutions to challenging and often systemic social and environmental issues in support of social progress.

The course relies on brief assignments worked on during the virtual sessions, intense group work on the days of the on-site capstone session, and preparation of final deliverable, which is presented on the final day of the on-site session.

The course is 6 ECTS credits. Successful completion of the course depends on completion of the preparatory work, participation in the group work, and completion of a satisfactory final project and deliverable during the on-site capstone session.

Digital marketing (VIÐ625G)

In order to meet the growing competition in the modern business environment, businesses and executives need to acquire skills to leverage the opportunities offered by the ever-changing digital technology in marketing. The aim of the course is to enhance the professional knowledge of students in this field and thereby their competitiveness in the labor market.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Operations Management (VIÐ404G)

Welcome to Operations Management!

Ever noticed how everything around us seems to somehow just work? That's what this course is all about – uncovering the fascinating world of processes in businesses and our daily lives. We'll explore how things get made, from the smallest gadget in your hand to the largest machines. It's not just about factories and assembly lines; we'll see how everything from your favourite coffee shop to the latest tech companies use processes to deliver what we love. We'll dive into how to design these processes, keep them running smoothly, and constantly improve them.

So get ready to look at the world around you in a whole new way, as a series of amazing processes making our lives better. Get ready to see the world like Operations Managers.

Mathematics A (VIÐ102G)

Important issues in the mathematics of secondary school revisited.Linear and non-linear equations. Basic mathematics of finance. Differentiation, partial differentiation. Constrained and unconstrained optimization, Lagrange multiplilers. Integration. Elementary linear algebra.

Introduction to Marketing (VIÐ101G)

The objective of the course is to introduce students to the core concepts of marketing theory and marketing management. The course covers the marketing concept, marketing orientation, and marketing management. Analysis of the marketing environment is also discussed along with analysis of consumer behavior, marketing strategy, competition, and competitive advantage. Finally, the course focuses on the practical application of marketing concepts for success.

Introduction to Financial Accounting (VIÐ103G)

This course is intended to do the student able to read corporate financial statements. Fundamentals of financial accounting and financial reporting are introduced. The double entry model explained through the accounting equation. Presentation of the conceptual framework for accounting: assumptions, principles and concepts.  The logical relationship between individual chapters in financial statements is in foreground. Whose things have influence on shareholders equity? Main methods of financial statement analysis are presented, especially ratio analysis. Extensive exercises are covered in separate group sessions.

Microeconomics I (VIÐ105G)

The aim of the course is to teach students the basic principles of economic thinking and main theories and concepts in microeconomics. The topics covered include: Markets, specialisation and trade. Supply, demand, elasticity and government policies. Efficiency and welfare. The Icelandic tax system and the effects of taxation on market activity. Externalities, public goods and common resources. Firm behaviour and the organisation of industry. Consumer choice. Labour market, earnings and discrimination. Asymmetric information, political economy, behavioural economics.

Work Methods in Business Administration (VIÐ157G)

This course will discuss study techniques, critical thinking, ethics, group work, communication, listening and how to present projects. Students work on individual and group projects of various kinds.

The aim of the course is to provide students with basic skills in professional work; students acquire skills in source usage and how to write bibliography.

Business Statistics A (VIÐ263G)

Descriptive statistics, measures of location and variation. Frequency distributions. Probabilities, rules of probability, statistical expectation. Probability distributions. Sampling and sampling distributions. Inferences about means, standard deviations and proportions. Correlation. Linear regression. Exercises.

Computer Use and Spreadsheet (VIÐ201G)

This course is divided into practical and theoretical lines.

The practical part will examine all major parts of Excel with emphasis on financial calculations and data analysis. The course will introduce practical examples that will benefit students in other courses and at the workplace.

The theoretical part will provide overview over usage of computers in the workplace and some theoretical aspects of computer usage. It will look at aspects important in financing and operation of computer systems.

The student is expected to have a computer with practical knowledge of its operating system.

Management Accounting (VIÐ204G)

Introduction to management accounting. Most important cost terms will be presented and cost-volume-profit analysis. Different accounting systems around manufacturing costs and allocation of indirect costs. The difference between absorption costing and variable costing. Budgeting, standard costing and variance analysis. Performance evaluation of different departments and products and cost allocation. After this course the students should understand well the importance of management accounting for decision making in business.

Services Marketing (VIÐ205G)

The main objective of the course is to introduce the key concepts of service, i.e. the characteristics of service, specific issues related to service and how these issues affect services marketing and service solutions. The qualities and characteristics of service are discussed, the service triangle, the service gap, service consumer behavior, expectations and perceptions, as well as the importance of establishing a lasting relationship with customers. Furthermore, consideration is given to service design, standards and benchmarks, the service setting, the role of the customer in effective service implementation, the balance of service supply and demand, pricing, and considerations in the formulation of promotion strategy for service solutions. Upon completion of the course, students are expected to:

Have knowledge of the key concepts of service
Have knowledge and understanding of specific problems related to service
Have knowledge of the service triangle and service quality model
Be able to define the roles of customers and employees in effective service implementation
Have knowledge and understanding of concepts related to service design and service strategy
Be able to elaborate a simple promotion strategy for service solutions.

Introduction to Management (VIÐ258G)

The main objective of the course is that the students gain knowledge and understanding of key management concepts, theories and  tools or methods connected  to the manager‘s job.  The focus is on the managerial work and the human  resource management and communication in the workplace.

Diverse teaching methods will be used; lectures, guest lectures, discussions, project work, simulation, where the aim is to encourage interest, diligence and participation of students.

Macroeconomics I (HAG103G)

The course aims to give the students an insight into the main theories, concepts, topics, and principles of macroeconomics and macroeconomic activity. The course stresses both the analytical content and applied usefulness of the topics covered and how they relate to various current economic issues at home and abroad. A sound knowledge of macroeconomics prepares students for various other economics courses, and for life.

Business Statistics B (VIÐ311G)

Main objective of the course is students will be prepared to use of statistical methods in their work and in other courses. It is emphasized that students achieve fluency in the use of Excel for statistical calculations. Students gain an understanding of statistics, for life and work. Students learn to draw reasonable conclusions from data. Students learn to take into account uncertain variables in making decisions. The course focus on two variables regression analysis, multiple variables regression, additional topics, non-parametric statistic, analysis of variance, forecasting with tow time-series models, , quality assessment, and sampling: stratified, cluster, and other sampling methods.

Finance I (VIÐ301G)

The objectives in Financial Management I & II is that students can acquire knowledge and methods to:
* Basic knowledge of financial markets
* Evaluate the value of simple financial instruments on different timeline, calculate present value different cash flow of financial assets, projects and fixed assets.
* Techniques in financial management and planning in corporate finance.
* Sophisticated methods of Corporate Finance to solve complicated financial problems.

Business Law A (VIÐ302G)

This course deals with law and regulation applicable to commercial transactions and business organizations. The purpose of the course is to prepare students for the legal challenges they can expect to encounter as entrepreneurs and managers of private businesses . Topics covered include contracts, torts, negotiable instruments, security and guarantees, and bankruptcy. Laws applicable to business organization will also be studied and the fundamentals of securities laws.

International Business (VIÐ303G)

 The main objective of the course is to expand the students’ understanding of the global business environment and how it affects markets, production and the welfare of individuals. Students will learn about foreign trade and investment and the main economic institutions. Students will learn how to evaluate market potential and will be introduced to cultural differences and human resource in different markets. At the end of the course the students should have a good overview over world trade and distant markets will seem closer than at the beginning. The most common forms of international trade will be discussed and the students should learn what a company has to do in order to change from a domestic firm to an international one and what alternatives it can choose from.

The aim of this course is to provide an integrated basic understanding of the complexity of the international business environment and the challenges it poses for firms engaged in cross- border activities. For example, emphasis is put on the differences among countries and how these differences are linked with the various strategic choices firms adopt in order to compete internationally. By the end of the course students will enhance their ability to more effectively explain, interpret and synthesise international business practices in multidisciplinary discourse.

Diversity Management and Inclusion (VIÐ416G)

Diversity management is a complex and multifaceted phenomenon. In this course we will capture this complexity by bringing insights from sociology, psychology, international relations, history, management, business and organization studies. Studying international perspectives on diversity management provides a wealth of insight into how diversity may be managed under different national systems and institutions. This course is designed to equip you with an understanding of basic concepts and principles of diversity management which should assist you in interacting effectively and appropriately with people with various backgrounds and abilities. It will also help you understand how diversity interfaces with topics of current interest within business and management. The workplace is a strong situation that enables subtle prejudice and stereotypes to manifest. To develop effective strategies for diversity management, it is imperative for managers to develop theoretical and conceptual frameworks and skills that will enhance their understanding of the specific contexts and issues they wish to explore and change.

Communication and Human Interaction (VIÐ406G)

The objective of the course is to develop students' professional communication skills. The course aims to enhance their vocal qualities and connection with the audience. It aids them in becoming fluent and confident speakers, and effective and efficient writers, who know how to state a clear main idea and provide clear and structured substantiation for their claims. The course focuses on: projecting the voice, pronouncing clearly, breathing effectively, and relaxing the voice. Developing vocal quality and the relationship with the audience. Anxiety and ways to conquer it. Clear and organized structure. Communicating in meetings and small groups. Students give presentations throughout the course. Written assignments, such as CVs, proposals, and reports, focus on audience analysis, clarity, organization, and effective word choice. The course is taught in English.

Management and Organisational Design (VIÐ415G)

The learning path starts with overall orientation and definitions. The focus at first is on challenges in the external environment and how organizational effectiveness can be assessed. Then the focus is on understanding and analysing the structure of organizations and on what should be in the picture when an organizational structure is designed. Influences and challenges related to organizational design and ethical and societal challenges are reviewed. Innovation, knowledge, information, and decision making in the context of organizational change are also covered. Then the impact of artificial intelligence on the structure and working methods of organizations will be discussed.

Finance II (VIÐ402G)

Good corporate governance and skilled financial management are the key ingredients for a successfully run corporation.  Finance II builds on the course Finance I, and has its main focus on the corporation and how it is being run from financial management point of view.  The course covers topics in corporate governance, how incentives are embedded in the operation of the firm and what economic and financial outcomes are to be expected from the incentive structure.  The main focus of the course is financial management; the firm’s capital structure, short and long term financing, capital budgeting, dividend policies, short term financial planning as well as financial distress.

Business Plans (VIÐ528G)

In the course, students gain knowledge and experience in business planning, incorporating content from the core courses in their studies that provides them with very practical preparation for their career. Furthermore, the course enhances students’ creative abilities, in creating both new products and new jobs, should they establish their own enterprise. Students are trained in developing and pitching their ideas to investors. The business plan and operations plan is a document outlining the objectives of the company, substantiated with numerical and factual data. A business plan also presents how to attain its objectives through actions relating to income, expenditures, internal processes, and staffing. Business plans are also important for anyone involved in the financing of companies, be it financial institutions or venture capitalists, since such plans should contain most of the information they need to determine what it is that they are investing in and how much risk that investment entails.

The objective of the course is that students can create and develop their own business concepts and present business plans in relation to e.g. strategic management.

Methodology (VIÐ525G)

The goal of course is to introduce students to methodology. The course will go over how to conduct research, including the research question, design, data collection and statistics.

Introduction to Project Management (VIÐ506G)

This course focuses on a holistic approach to project management. The content deals with planning, scheduling, organizing, and controlling projects--for example, product development, construction, information systems, new businesses, and special events. The course includes major topics of Strategy, Priorities, Organization, Project Tools, and Leadership. Primary class emphasis is on the project management process and tools. Project management is becoming increasingly more important in today's world. Mastery of key tools and concepts could give you a significant competitive advantage in the marketplace.

Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

Human Resource Management (VIÐ509G)

In this course students will learn all about the main functions of HRM and HRM departments in companies, both from a theoretical and practical point of view. Students should gain understanding on the procedure of HRM within Icelandic companies as well as global. In this course students will analyse employment relations with a critical viewpoint.
Students should be prepared to work within HRM department after this course.

The Labour Market and its Development (VIÐ510G)

The aim of the course is to introduce to business students the field of industrial and employee relations and the main changes that have occurred in the labour market for the last decades. This course cover topics such as; theories of the labour market (unitary, conflict, social action, systems and Marxist theories), strike theories, corporatism, comparative European industrial relations, industrial democracy and employee involvement, institutionalisation of conflict, collective bargaining, role of trade unions, role of the state, role of employers association. Labor law, collective bargaining, strikes and strikes theories will be discussed. Finally main topics concerning employment relations will be discussed.

Financial statement analysis (VIÐ626G)

The analysis of financial statements is the foundation for efficient decision making and includes many aspects of business operations. The objective of the course is to enhance students’ abilities to interpret and analyze financial statements from different perspectives.

This can include the decision making regarding investments, debt issuance, or comparative analysis of firms and the limitations of such comparisons.

Frequently firms are undergoing restructuring, which means that it is insufficient to simply focus on comparing the differences in operating results from year to year and to draw conclusions from that analysis. The course aims to increase students’ abilities to understand which items are relevant based on different analytical approaches.

Teaching materials include a textbook as well as sources from firms listed on the Nasdaq Iceland main market as well as some firms listed in non-domestic markets. This allows students to familiarize themselves with sourcing and analyzing real-world data.

The course covers the relationship between valuations and items in the financial statements as well as long term financing debt issues and on which issues such decisions are based, e.g. from the perspective of financial institutions’ credit committees. Both of these items concern the financing of firms. The course also covers the analysis of the utilization of the financial assets of firms, how that utilization is reported, and how the valuation of assets is presented in the balance sheet. In addition, the presentation of information within disclosures is examined, based on actual firms, such as balance sheets, income statement, and/or cash flow statements, as well as the relationship of this information to the increasingly extensive notes to the financial statements

Strategy Formation and Implementation (VIÐ609G)

The learning path is in line with the structure of the textbook, starts with overall orientation and definitions. Then the focus is on external and internal analysis in order to assess the strategic situation of companies. After that issues of strategy development are covered and that of strategy implementation. The class will use different teaching methods and the students are required to work on cases and examples of real companies.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

Marketing Communications (VIÐ526G)

In the course, students will gain an understanding on how it is possible to built brand equity through integrated marketing communication. Students will get to know basic theories regarding marketing communication and planing. All major channels in marketing communication will be discussed and how they can be integrated. Students will also gain knowledge about different media and learn how to evaluate their feasibility in relations to target segments and available resources.
Through reading, lectures and communications in class, students will gain basic knowledge on concepts and theories involving marketing communications. Through working on an assignment involving designing a marketing communication plan, students will get training in how to apply the knowledge.
Students can expect to get insight from guest lectures.

Individual Taxation (VIÐ501G)

The course covers the principles of Icelandic tax law concerning tax liability and taxable income, including which items are tax deductible. A special emphasis will be placed on the filing of sources of income for individuals and the self-employed through solving problems and cases. The filing of tax returns for individuals, couples, and businesses will be introduced. The determination of benefits and tax credit will be discussed. The fundamental principles of tax law will be covered, along with re-assessment of taxes and the consequences of fraudulent filing. An overview will be given of the key principles of the laws on value added tax and the social insurance fee. Upon completion of the course a student shall be able to file tax returns for individuals and small businesses as well as appeal tax assessments that he/she deems incorrect.

UII – Business Intelligence and Data Processing (VIÐ502G)

This course focuses on tools for data analysis as basis for planning and decision support in the business environment. The course will introduce Databases, Data Warehouses, SQL Query Language. Introduction to Business Intelligence, application areas and its‘ role in planning and decision making. Introduction to data warehouse, business intelligence, artificial intelligence, data science and electronic trade. 

Focus is on practical examples with variouse tools, like Excel, Access, og Power BI.

Financial Instruments (VIÐ503G)

This course starts with looking at interest rate markets and how the zero coupon curve is derived. Valuation of different kind of bonds is covered along with the characteristics and risk factors of the major listed bonds, with special emphasis on the Icelandic market. Next the valuation of derivatives is covered along with the main characteristics. Special emphasis is placed on futures/forwards, swaps and options.  The reasons behind derivatives trading are covered and what the main risk factors are.

Financial Statements A (VIÐ505M)

This course is designed for students on the F- and R-line (finance and accounting). The purpose with the course is that the students obtains knowledge and understanding on matters that management of companies needs to have to prepare financial statements in accordance with generally accepted accounting principles. In the course students, will learn about generally accepted accounting principles according to international accountings standards (IFRS) and icelandic GAAP. Among topics: Financial accounting and accounting standards, income statement, balance sheet and cash flow. Revenue recognition and cost accounting, inventories, accounts receivables, PPE, intangible assets, income tax, impairment test, accounting for financial instruments, liabilities and equity. Students will need to solve assignments during the course.

Financial Markets (VIÐ505G)

Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend, if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century. The Icelandic Banking System collapse offers myriad of examples and cases that provide a fruitful ground for learning. A frequent reference will be made to those throughout the course.

Marketing Research (VIÐ511G)

Definition of marketing research. Marketing research and science. Marketing research and decision making. Selection of research variables. Basic methods of collecting data. Secondary data. Bayesian analysis. The marketing research process. Construction of a questionnaire. Scaling. Attitude measurement. Sampling and its application to marketing problems. Data collection and the field force. Evaluation and research presentation. Experimentation.

Business and Intercultural Communication (VIÐ512G)

The course focuses on the practical aspects of doing business in an international and culturally diverse environment; on understanding the main obstacles that executives in international business face, the challenges of managing a culturally diverse workforce, and how cultural diversity affects all aspects of business. The main goal of the course is to develop the skills and intercultural competence to overcome those obstacles. To develop the skills to understand and deal with different cultures, we study theories and concepts of culture. To gain further insights into cultural dimensions, values, customs, and practices, we profile different national cultures. To understand international and intercultural business, we study how culture impacts the main areas of communication, management, marketing and finance. To comprehend how corporate cultures and sub-cultures cut across national cultures, we study different industries or business sectors. To develop students' intercultural communication skills, the classes are very interactive and students work on projects in culturally diverse teams, give presentations and write reports. The course is taught in English.

Introduction to Brand Management (VIÐ513G)

The focus is on brand management and relationship marketing. The key methods of relationship marketing are discussed and their application outlined. The role of brands and brand equity is covered, as well as the development of a strong brand. Different methods for assessing brand equity are discussed in addition to how brand strategy can be applied to maximize brand equity. Students shall take active part in lectures, discussions and project work.

Measuring Service Quality (VIÐ158M)

The objective of the course is for students to be able to prepare, implement, and utilize the results of service quality measurements in prioritizing improvements. The course is based on quantitative methodology and students’ ability to use statistics according to the methodology of social science.

Innovation and Sustainability in Fisheries (VIÐ302M)

In this course, students will gain insight into one of the cornerstones of the Icelandic economy, fisheries and aquaculture. Emphasis is placed on innovation, sustainability, full utilization of marine products, and the opportunities presented by technological advancements, artificial intelligence, and the circular economy. Participants will also learn how Icelandic fisheries and aquaculture compete internationally, contribute to the United Nations’ Sustainable Development Goals, and utilize Icelandic ingenuity to create added value.

Through project-based learning, students will work on realistic projects in collaboration with companies and institutions in the industry, addressing real-world challenges related to marketing, sustainability, technological advancement, and full utilization for increased value creation.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Creative Industries (VIÐ522G)

This course deals with the organisation of creative industries, which have been defined as "industries producing goods broadly associated with cultural artistic or entertainment values" (Caves, 2000). The aim is for the students to gain understanding of the peculiarities of creative industries, where parts of the 'industry' is dependent upon public support while other parts are profit oriented.

The course will be divided into lectures and discussion classes with visits from the creative industries in Iceland.

This course is for all students in the University and will be taught if there is enough participation.

Asian Business Studies (Japan and China) (VIÐ506M)

Students look at international trade between the West and Asia (China and Japan) from a macroeconomic point of view. Also use micro-perspective on companies doing business in Asia (China and Japan).

• Students look at how trade and investment patterns in the Asian region are shaped by the global political economy.
• Students will analyze individual companies and their business in the Asian market, how investments (FDI) are conducted by these companies and analyze their value chain.
• Students work on real-life examples (group projects) of companies doing business in Asia

More specific description:
This course is intended as an introduction to business operations and macroeconomic issues with special reference to Asia i.e. Japan and China. The course uses both theoretical definitions as well as real-life examples. The course is divided into 3 main parts:

• In the first part, the macroeconomic perspective on trade and investment in the Asian region will be discussed on the basis of individual data on trade, the consequences of the WTO as well as free trade agreements and their consequences, especially the China-Iceland free trade agreement and its consequences.
• The second part of the course will introduce a microperspective of companies doing business in Asia. Foreign direct investment (FDI) and international value chains (GVC) will be examined. A theoretical approach will be used to explain companies' choice of location due to FDI. Western companies entering Asia as well as Asian companies entering the western market will be in focus.
• The third part of the course goes into project work where students analyze a company that has operations in China or Japan or those Chinese / Japanese companies that have established themselves in Iceland. Students conduct a case study.

Microeconomics II (HAG201G)

Intermediate microeconomic theory. Basic factors of price theory, uncertainty, including analysis of demand, costs of production and supply relationships, and price and output determination under various market structures, market failures and public choice.

Consumer behaviour and marketing (VIÐ418G)

From a marketing point of view, understanding consumer behaviour is a fundamental element to be able to forcast and influence consumers’ demand for products and service, for understanding how consumers experience brands and to understand their reactions to marketing activities.

The course is based on discussions and assignments, which students work on both in the classroom and outside of the classroom. It is expected that students have gone through the reading material before each class so they can actively participate.

Business Taxation (VIÐ403M)

The course is intended as an introduction to tax law and tax practice applicable to business operations in Iceland and to offer some practice in solving simpler problems in this field. The term business operations refers on the one hand to various forms of legal persons and on the other hand to individual engaged in business operations or independent services in their own name. At the end of the course the student will be familiar with the taxes and duties levied on business operations in Iceland, the basic provisions of Icelandic law and other provisions on which the levy of the duty is based and certain procedures in solving tax problems.

Financial Accounting (VIÐ401G)

This course is a continuation of the introductory course. The main emphasis here is on the preparation of financial statement, fx. allowance for doubtful accounts, depreciation af property, plant and equipment, goodwill and other intangible assets, inventories valuation, fair value of securities and equities, deferred taxes etc. Preparation of cash-flow statement. In this context the Icelandic legal regulation of accounting and International Financial Accounting Standards (IFRS/IAS) are being dealt with. Calculation of income tax will be presented. Extensive exercises are covered in separate group sessions. After this course students should be capable of preparing financial statement for a comparatively simple company.

Business Law B - Introduction to Financial Law (VIÐ601G)

The course reviews legislation and legal issues that concern the financial markets, corporate finance and operations. Legal environment of financial companies will be reviewed, securities law, liability for experts, a chapter in the penal code act regarding wealth deeds and legal issues related to acquisitions and sales of corporations, due diligence, etc. The course will also review contracts and documents in the financial market, including loan-, purchase- and shareholder agreements.

Marketing Plans (VIÐ602G)

The focus of the course is on the methodology for developing marketing plans, from market analysis to action plans.  Methods for analyzing market position, for creating marketing strategy, and for the selection of marketing tactics are discussed.
Students develop marketing plans for goods or services, working in groups of four.  Students will contact an organization and develop a marketing plan in alliance with that specific organization.
The course format is a mix of lectures, discussions and project work.

Financial Statements B (VIÐ604M)

This course is a continuation of Financial Statements A, which is taught in the fall semester. It is expected that students of this course are fully familiar with the content of the course Financial Statements A.
The course will cover the principles in accounting under both IFRS and Icelandic law. Topics: cash flow, income tax, earnings per share, financial instruments, finance leases, assets held for sale and discontinued operations, investment properties, provision, information in the financial statements and related parties.
Assignments are part of the course, and students will need submit them.

Reserved the righttochangethecoursedescription.

Portfolio Management (VIÐ604G)

The theory behind decisions of investors and corporations regarding building and managing asset and liability portfolios. Risk management of corporations will also be covered.

The course is taught in English

Spark Social (HSÞ602G)

The University of Iceland offers this transdisciplinary course for senior graduate students registered in all schools and disciplines across the University. The course is also open to students from all Aurora universities. The course combines online content, virtual sessions that take place over the semester, and a five-day capstone experience on-site at the university of Iceland.

Participants will gain insights into current and future challenges and learn about how these are being addressed. Participants will work in collaborative interdisciplinary teams under the guidance of experienced industry and academic leaders to apply their new knowledge toward developing their own recommendations for tackling immediate and foreseeable challenges. Students will gain a deeper understanding of their own strengths as well as developing methods and approaches for innovative thinking under the guidance of experienced teachers.

The course incorporates the approach of Social Entrepreneurship and Innovation, which is part of the Aurora Competency Framework. This concept includes both social entrepreneurship, a way to achieve social change by employing entrepreneurial principles with or without the formation of new organizations, and social innovation, a process of developing and deploying effective solutions to challenging and often systemic social and environmental issues in support of social progress.

The course relies on brief assignments worked on during the virtual sessions, intense group work on the days of the on-site capstone session, and preparation of final deliverable, which is presented on the final day of the on-site session.

The course is 6 ECTS credits. Successful completion of the course depends on completion of the preparatory work, participation in the group work, and completion of a satisfactory final project and deliverable during the on-site capstone session.

Digital marketing (VIÐ625G)

In order to meet the growing competition in the modern business environment, businesses and executives need to acquire skills to leverage the opportunities offered by the ever-changing digital technology in marketing. The aim of the course is to enhance the professional knowledge of students in this field and thereby their competitiveness in the labor market.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Operations Management (VIÐ404G)

Welcome to Operations Management!

Ever noticed how everything around us seems to somehow just work? That's what this course is all about – uncovering the fascinating world of processes in businesses and our daily lives. We'll explore how things get made, from the smallest gadget in your hand to the largest machines. It's not just about factories and assembly lines; we'll see how everything from your favourite coffee shop to the latest tech companies use processes to deliver what we love. We'll dive into how to design these processes, keep them running smoothly, and constantly improve them.

So get ready to look at the world around you in a whole new way, as a series of amazing processes making our lives better. Get ready to see the world like Operations Managers.

Mathematics A (VIÐ102G)

Important issues in the mathematics of secondary school revisited.Linear and non-linear equations. Basic mathematics of finance. Differentiation, partial differentiation. Constrained and unconstrained optimization, Lagrange multiplilers. Integration. Elementary linear algebra.

Introduction to Marketing (VIÐ101G)

The objective of the course is to introduce students to the core concepts of marketing theory and marketing management. The course covers the marketing concept, marketing orientation, and marketing management. Analysis of the marketing environment is also discussed along with analysis of consumer behavior, marketing strategy, competition, and competitive advantage. Finally, the course focuses on the practical application of marketing concepts for success.

Introduction to Financial Accounting (VIÐ103G)

This course is intended to do the student able to read corporate financial statements. Fundamentals of financial accounting and financial reporting are introduced. The double entry model explained through the accounting equation. Presentation of the conceptual framework for accounting: assumptions, principles and concepts.  The logical relationship between individual chapters in financial statements is in foreground. Whose things have influence on shareholders equity? Main methods of financial statement analysis are presented, especially ratio analysis. Extensive exercises are covered in separate group sessions.

Microeconomics I (VIÐ105G)

The aim of the course is to teach students the basic principles of economic thinking and main theories and concepts in microeconomics. The topics covered include: Markets, specialisation and trade. Supply, demand, elasticity and government policies. Efficiency and welfare. The Icelandic tax system and the effects of taxation on market activity. Externalities, public goods and common resources. Firm behaviour and the organisation of industry. Consumer choice. Labour market, earnings and discrimination. Asymmetric information, political economy, behavioural economics.

Work Methods in Business Administration (VIÐ157G)

This course will discuss study techniques, critical thinking, ethics, group work, communication, listening and how to present projects. Students work on individual and group projects of various kinds.

The aim of the course is to provide students with basic skills in professional work; students acquire skills in source usage and how to write bibliography.

Business Statistics A (VIÐ263G)

Descriptive statistics, measures of location and variation. Frequency distributions. Probabilities, rules of probability, statistical expectation. Probability distributions. Sampling and sampling distributions. Inferences about means, standard deviations and proportions. Correlation. Linear regression. Exercises.

Computer Use and Spreadsheet (VIÐ201G)

This course is divided into practical and theoretical lines.

The practical part will examine all major parts of Excel with emphasis on financial calculations and data analysis. The course will introduce practical examples that will benefit students in other courses and at the workplace.

The theoretical part will provide overview over usage of computers in the workplace and some theoretical aspects of computer usage. It will look at aspects important in financing and operation of computer systems.

The student is expected to have a computer with practical knowledge of its operating system.

Management Accounting (VIÐ204G)

Introduction to management accounting. Most important cost terms will be presented and cost-volume-profit analysis. Different accounting systems around manufacturing costs and allocation of indirect costs. The difference between absorption costing and variable costing. Budgeting, standard costing and variance analysis. Performance evaluation of different departments and products and cost allocation. After this course the students should understand well the importance of management accounting for decision making in business.

Services Marketing (VIÐ205G)

The main objective of the course is to introduce the key concepts of service, i.e. the characteristics of service, specific issues related to service and how these issues affect services marketing and service solutions. The qualities and characteristics of service are discussed, the service triangle, the service gap, service consumer behavior, expectations and perceptions, as well as the importance of establishing a lasting relationship with customers. Furthermore, consideration is given to service design, standards and benchmarks, the service setting, the role of the customer in effective service implementation, the balance of service supply and demand, pricing, and considerations in the formulation of promotion strategy for service solutions. Upon completion of the course, students are expected to:

Have knowledge of the key concepts of service
Have knowledge and understanding of specific problems related to service
Have knowledge of the service triangle and service quality model
Be able to define the roles of customers and employees in effective service implementation
Have knowledge and understanding of concepts related to service design and service strategy
Be able to elaborate a simple promotion strategy for service solutions.

Introduction to Management (VIÐ258G)

The main objective of the course is that the students gain knowledge and understanding of key management concepts, theories and  tools or methods connected  to the manager‘s job.  The focus is on the managerial work and the human  resource management and communication in the workplace.

Diverse teaching methods will be used; lectures, guest lectures, discussions, project work, simulation, where the aim is to encourage interest, diligence and participation of students.

Introduction to Brand Management (VIÐ513G)

The focus is on brand management and relationship marketing. The key methods of relationship marketing are discussed and their application outlined. The role of brands and brand equity is covered, as well as the development of a strong brand. Different methods for assessing brand equity are discussed in addition to how brand strategy can be applied to maximize brand equity. Students shall take active part in lectures, discussions and project work.

Business Statistics B (VIÐ311G)

Main objective of the course is students will be prepared to use of statistical methods in their work and in other courses. It is emphasized that students achieve fluency in the use of Excel for statistical calculations. Students gain an understanding of statistics, for life and work. Students learn to draw reasonable conclusions from data. Students learn to take into account uncertain variables in making decisions. The course focus on two variables regression analysis, multiple variables regression, additional topics, non-parametric statistic, analysis of variance, forecasting with tow time-series models, , quality assessment, and sampling: stratified, cluster, and other sampling methods.

Finance I (VIÐ301G)

The objectives in Financial Management I & II is that students can acquire knowledge and methods to:
* Basic knowledge of financial markets
* Evaluate the value of simple financial instruments on different timeline, calculate present value different cash flow of financial assets, projects and fixed assets.
* Techniques in financial management and planning in corporate finance.
* Sophisticated methods of Corporate Finance to solve complicated financial problems.

Business Law A (VIÐ302G)

This course deals with law and regulation applicable to commercial transactions and business organizations. The purpose of the course is to prepare students for the legal challenges they can expect to encounter as entrepreneurs and managers of private businesses . Topics covered include contracts, torts, negotiable instruments, security and guarantees, and bankruptcy. Laws applicable to business organization will also be studied and the fundamentals of securities laws.

International Business (VIÐ303G)

 The main objective of the course is to expand the students’ understanding of the global business environment and how it affects markets, production and the welfare of individuals. Students will learn about foreign trade and investment and the main economic institutions. Students will learn how to evaluate market potential and will be introduced to cultural differences and human resource in different markets. At the end of the course the students should have a good overview over world trade and distant markets will seem closer than at the beginning. The most common forms of international trade will be discussed and the students should learn what a company has to do in order to change from a domestic firm to an international one and what alternatives it can choose from.

The aim of this course is to provide an integrated basic understanding of the complexity of the international business environment and the challenges it poses for firms engaged in cross- border activities. For example, emphasis is put on the differences among countries and how these differences are linked with the various strategic choices firms adopt in order to compete internationally. By the end of the course students will enhance their ability to more effectively explain, interpret and synthesise international business practices in multidisciplinary discourse.

Consumer behaviour and marketing (VIÐ418G)

From a marketing point of view, understanding consumer behaviour is a fundamental element to be able to forcast and influence consumers’ demand for products and service, for understanding how consumers experience brands and to understand their reactions to marketing activities.

The course is based on discussions and assignments, which students work on both in the classroom and outside of the classroom. It is expected that students have gone through the reading material before each class so they can actively participate.

Communication and Human Interaction (VIÐ406G)

The objective of the course is to develop students' professional communication skills. The course aims to enhance their vocal qualities and connection with the audience. It aids them in becoming fluent and confident speakers, and effective and efficient writers, who know how to state a clear main idea and provide clear and structured substantiation for their claims. The course focuses on: projecting the voice, pronouncing clearly, breathing effectively, and relaxing the voice. Developing vocal quality and the relationship with the audience. Anxiety and ways to conquer it. Clear and organized structure. Communicating in meetings and small groups. Students give presentations throughout the course. Written assignments, such as CVs, proposals, and reports, focus on audience analysis, clarity, organization, and effective word choice. The course is taught in English.

Management and Organisational Design (VIÐ415G)

The learning path starts with overall orientation and definitions. The focus at first is on challenges in the external environment and how organizational effectiveness can be assessed. Then the focus is on understanding and analysing the structure of organizations and on what should be in the picture when an organizational structure is designed. Influences and challenges related to organizational design and ethical and societal challenges are reviewed. Innovation, knowledge, information, and decision making in the context of organizational change are also covered. Then the impact of artificial intelligence on the structure and working methods of organizations will be discussed.

Finance II (VIÐ402G)

Good corporate governance and skilled financial management are the key ingredients for a successfully run corporation.  Finance II builds on the course Finance I, and has its main focus on the corporation and how it is being run from financial management point of view.  The course covers topics in corporate governance, how incentives are embedded in the operation of the firm and what economic and financial outcomes are to be expected from the incentive structure.  The main focus of the course is financial management; the firm’s capital structure, short and long term financing, capital budgeting, dividend policies, short term financial planning as well as financial distress.

Macroeconomics I (HAG103G)

The course aims to give the students an insight into the main theories, concepts, topics, and principles of macroeconomics and macroeconomic activity. The course stresses both the analytical content and applied usefulness of the topics covered and how they relate to various current economic issues at home and abroad. A sound knowledge of macroeconomics prepares students for various other economics courses, and for life.

Marketing Communications (VIÐ526G)

In the course, students will gain an understanding on how it is possible to built brand equity through integrated marketing communication. Students will get to know basic theories regarding marketing communication and planing. All major channels in marketing communication will be discussed and how they can be integrated. Students will also gain knowledge about different media and learn how to evaluate their feasibility in relations to target segments and available resources.
Through reading, lectures and communications in class, students will gain basic knowledge on concepts and theories involving marketing communications. Through working on an assignment involving designing a marketing communication plan, students will get training in how to apply the knowledge.
Students can expect to get insight from guest lectures.

Marketing Research (VIÐ511G)

Definition of marketing research. Marketing research and science. Marketing research and decision making. Selection of research variables. Basic methods of collecting data. Secondary data. Bayesian analysis. The marketing research process. Construction of a questionnaire. Scaling. Attitude measurement. Sampling and its application to marketing problems. Data collection and the field force. Evaluation and research presentation. Experimentation.

Financial statement analysis (VIÐ626G)

The analysis of financial statements is the foundation for efficient decision making and includes many aspects of business operations. The objective of the course is to enhance students’ abilities to interpret and analyze financial statements from different perspectives.

This can include the decision making regarding investments, debt issuance, or comparative analysis of firms and the limitations of such comparisons.

Frequently firms are undergoing restructuring, which means that it is insufficient to simply focus on comparing the differences in operating results from year to year and to draw conclusions from that analysis. The course aims to increase students’ abilities to understand which items are relevant based on different analytical approaches.

Teaching materials include a textbook as well as sources from firms listed on the Nasdaq Iceland main market as well as some firms listed in non-domestic markets. This allows students to familiarize themselves with sourcing and analyzing real-world data.

The course covers the relationship between valuations and items in the financial statements as well as long term financing debt issues and on which issues such decisions are based, e.g. from the perspective of financial institutions’ credit committees. Both of these items concern the financing of firms. The course also covers the analysis of the utilization of the financial assets of firms, how that utilization is reported, and how the valuation of assets is presented in the balance sheet. In addition, the presentation of information within disclosures is examined, based on actual firms, such as balance sheets, income statement, and/or cash flow statements, as well as the relationship of this information to the increasingly extensive notes to the financial statements

Marketing Plans (VIÐ602G)

The focus of the course is on the methodology for developing marketing plans, from market analysis to action plans.  Methods for analyzing market position, for creating marketing strategy, and for the selection of marketing tactics are discussed.
Students develop marketing plans for goods or services, working in groups of four.  Students will contact an organization and develop a marketing plan in alliance with that specific organization.
The course format is a mix of lectures, discussions and project work.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ265L, VIÐ265L, VIÐ265L)

The student undertakes an independent research project on a topic in Business Administration, collects data, analyzes and presents the results. In the thesis, the student outlines the methods used, reviews the literature, and discusses the findings, e.g. whether they are in line with previous research or not. The length of the thesis should be around 12 to 14 thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation.The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

BS Thesis (VIÐ264L, VIÐ264L, VIÐ264L)

The student selects a topic, defines it and explains, reviews the relevant literature, outlines the application of concepts and discusses any problems related to the issue. The thesis is a review of literature, relying on scholarly sources and other databases. The length should be around six to eight thousand words.

Students fill in an application for a thesis supervisor to the faculty’s thesis coordinator. More information can be found in the Course Catalog for the Faculty of Business Administration under "Information" - "Thesis". Under the guidance of the thesis supervisor, students submit a thesis proposal and subsequently write their thesis. The thesis must be submitted online no later than the specified dates that are announced before each graduation. The faculty can require that a student undergoes an oral examination on his thesis topic that determines part of the final grade for the thesis.

Business Plans (VIÐ528G)

In the course, students gain knowledge and experience in business planning, incorporating content from the core courses in their studies that provides them with very practical preparation for their career. Furthermore, the course enhances students’ creative abilities, in creating both new products and new jobs, should they establish their own enterprise. Students are trained in developing and pitching their ideas to investors. The business plan and operations plan is a document outlining the objectives of the company, substantiated with numerical and factual data. A business plan also presents how to attain its objectives through actions relating to income, expenditures, internal processes, and staffing. Business plans are also important for anyone involved in the financing of companies, be it financial institutions or venture capitalists, since such plans should contain most of the information they need to determine what it is that they are investing in and how much risk that investment entails.

The objective of the course is that students can create and develop their own business concepts and present business plans in relation to e.g. strategic management.

Methodology (VIÐ525G)

The goal of course is to introduce students to methodology. The course will go over how to conduct research, including the research question, design, data collection and statistics.

Individual Taxation (VIÐ501G)

The course covers the principles of Icelandic tax law concerning tax liability and taxable income, including which items are tax deductible. A special emphasis will be placed on the filing of sources of income for individuals and the self-employed through solving problems and cases. The filing of tax returns for individuals, couples, and businesses will be introduced. The determination of benefits and tax credit will be discussed. The fundamental principles of tax law will be covered, along with re-assessment of taxes and the consequences of fraudulent filing. An overview will be given of the key principles of the laws on value added tax and the social insurance fee. Upon completion of the course a student shall be able to file tax returns for individuals and small businesses as well as appeal tax assessments that he/she deems incorrect.

UII – Business Intelligence and Data Processing (VIÐ502G)

This course focuses on tools for data analysis as basis for planning and decision support in the business environment. The course will introduce Databases, Data Warehouses, SQL Query Language. Introduction to Business Intelligence, application areas and its‘ role in planning and decision making. Introduction to data warehouse, business intelligence, artificial intelligence, data science and electronic trade. 

Focus is on practical examples with variouse tools, like Excel, Access, og Power BI.

Financial Instruments (VIÐ503G)

This course starts with looking at interest rate markets and how the zero coupon curve is derived. Valuation of different kind of bonds is covered along with the characteristics and risk factors of the major listed bonds, with special emphasis on the Icelandic market. Next the valuation of derivatives is covered along with the main characteristics. Special emphasis is placed on futures/forwards, swaps and options.  The reasons behind derivatives trading are covered and what the main risk factors are.

Financial Statements A (VIÐ505M)

This course is designed for students on the F- and R-line (finance and accounting). The purpose with the course is that the students obtains knowledge and understanding on matters that management of companies needs to have to prepare financial statements in accordance with generally accepted accounting principles. In the course students, will learn about generally accepted accounting principles according to international accountings standards (IFRS) and icelandic GAAP. Among topics: Financial accounting and accounting standards, income statement, balance sheet and cash flow. Revenue recognition and cost accounting, inventories, accounts receivables, PPE, intangible assets, income tax, impairment test, accounting for financial instruments, liabilities and equity. Students will need to solve assignments during the course.

Financial Markets (VIÐ505G)

Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend, if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century. The Icelandic Banking System collapse offers myriad of examples and cases that provide a fruitful ground for learning. A frequent reference will be made to those throughout the course.

Introduction to Project Management (VIÐ506G)

This course focuses on a holistic approach to project management. The content deals with planning, scheduling, organizing, and controlling projects--for example, product development, construction, information systems, new businesses, and special events. The course includes major topics of Strategy, Priorities, Organization, Project Tools, and Leadership. Primary class emphasis is on the project management process and tools. Project management is becoming increasingly more important in today's world. Mastery of key tools and concepts could give you a significant competitive advantage in the marketplace.

Please note, students must log in and purchase the book Project Management, The Managerial Process on the McGraw-Hill website. Further information can be found on the course's Canvas page.

Human Resource Management (VIÐ509G)

In this course students will learn all about the main functions of HRM and HRM departments in companies, both from a theoretical and practical point of view. Students should gain understanding on the procedure of HRM within Icelandic companies as well as global. In this course students will analyse employment relations with a critical viewpoint.
Students should be prepared to work within HRM department after this course.

The Labour Market and its Development (VIÐ510G)

The aim of the course is to introduce to business students the field of industrial and employee relations and the main changes that have occurred in the labour market for the last decades. This course cover topics such as; theories of the labour market (unitary, conflict, social action, systems and Marxist theories), strike theories, corporatism, comparative European industrial relations, industrial democracy and employee involvement, institutionalisation of conflict, collective bargaining, role of trade unions, role of the state, role of employers association. Labor law, collective bargaining, strikes and strikes theories will be discussed. Finally main topics concerning employment relations will be discussed.

Business and Intercultural Communication (VIÐ512G)

The course focuses on the practical aspects of doing business in an international and culturally diverse environment; on understanding the main obstacles that executives in international business face, the challenges of managing a culturally diverse workforce, and how cultural diversity affects all aspects of business. The main goal of the course is to develop the skills and intercultural competence to overcome those obstacles. To develop the skills to understand and deal with different cultures, we study theories and concepts of culture. To gain further insights into cultural dimensions, values, customs, and practices, we profile different national cultures. To understand international and intercultural business, we study how culture impacts the main areas of communication, management, marketing and finance. To comprehend how corporate cultures and sub-cultures cut across national cultures, we study different industries or business sectors. To develop students' intercultural communication skills, the classes are very interactive and students work on projects in culturally diverse teams, give presentations and write reports. The course is taught in English.

Measuring Service Quality (VIÐ158M)

The objective of the course is for students to be able to prepare, implement, and utilize the results of service quality measurements in prioritizing improvements. The course is based on quantitative methodology and students’ ability to use statistics according to the methodology of social science.

Innovation and Sustainability in Fisheries (VIÐ302M)

In this course, students will gain insight into one of the cornerstones of the Icelandic economy, fisheries and aquaculture. Emphasis is placed on innovation, sustainability, full utilization of marine products, and the opportunities presented by technological advancements, artificial intelligence, and the circular economy. Participants will also learn how Icelandic fisheries and aquaculture compete internationally, contribute to the United Nations’ Sustainable Development Goals, and utilize Icelandic ingenuity to create added value.

Through project-based learning, students will work on realistic projects in collaboration with companies and institutions in the industry, addressing real-world challenges related to marketing, sustainability, technological advancement, and full utilization for increased value creation.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Creative Industries (VIÐ522G)

This course deals with the organisation of creative industries, which have been defined as "industries producing goods broadly associated with cultural artistic or entertainment values" (Caves, 2000). The aim is for the students to gain understanding of the peculiarities of creative industries, where parts of the 'industry' is dependent upon public support while other parts are profit oriented.

The course will be divided into lectures and discussion classes with visits from the creative industries in Iceland.

This course is for all students in the University and will be taught if there is enough participation.

Asian Business Studies (Japan and China) (VIÐ506M)

Students look at international trade between the West and Asia (China and Japan) from a macroeconomic point of view. Also use micro-perspective on companies doing business in Asia (China and Japan).

• Students look at how trade and investment patterns in the Asian region are shaped by the global political economy.
• Students will analyze individual companies and their business in the Asian market, how investments (FDI) are conducted by these companies and analyze their value chain.
• Students work on real-life examples (group projects) of companies doing business in Asia

More specific description:
This course is intended as an introduction to business operations and macroeconomic issues with special reference to Asia i.e. Japan and China. The course uses both theoretical definitions as well as real-life examples. The course is divided into 3 main parts:

• In the first part, the macroeconomic perspective on trade and investment in the Asian region will be discussed on the basis of individual data on trade, the consequences of the WTO as well as free trade agreements and their consequences, especially the China-Iceland free trade agreement and its consequences.
• The second part of the course will introduce a microperspective of companies doing business in Asia. Foreign direct investment (FDI) and international value chains (GVC) will be examined. A theoretical approach will be used to explain companies' choice of location due to FDI. Western companies entering Asia as well as Asian companies entering the western market will be in focus.
• The third part of the course goes into project work where students analyze a company that has operations in China or Japan or those Chinese / Japanese companies that have established themselves in Iceland. Students conduct a case study.

Diversity Management and Inclusion (VIÐ416G)

Diversity management is a complex and multifaceted phenomenon. In this course we will capture this complexity by bringing insights from sociology, psychology, international relations, history, management, business and organization studies. Studying international perspectives on diversity management provides a wealth of insight into how diversity may be managed under different national systems and institutions. This course is designed to equip you with an understanding of basic concepts and principles of diversity management which should assist you in interacting effectively and appropriately with people with various backgrounds and abilities. It will also help you understand how diversity interfaces with topics of current interest within business and management. The workplace is a strong situation that enables subtle prejudice and stereotypes to manifest. To develop effective strategies for diversity management, it is imperative for managers to develop theoretical and conceptual frameworks and skills that will enhance their understanding of the specific contexts and issues they wish to explore and change.

Microeconomics II (HAG201G)

Intermediate microeconomic theory. Basic factors of price theory, uncertainty, including analysis of demand, costs of production and supply relationships, and price and output determination under various market structures, market failures and public choice.

Financial Accounting (VIÐ401G)

This course is a continuation of the introductory course. The main emphasis here is on the preparation of financial statement, fx. allowance for doubtful accounts, depreciation af property, plant and equipment, goodwill and other intangible assets, inventories valuation, fair value of securities and equities, deferred taxes etc. Preparation of cash-flow statement. In this context the Icelandic legal regulation of accounting and International Financial Accounting Standards (IFRS/IAS) are being dealt with. Calculation of income tax will be presented. Extensive exercises are covered in separate group sessions. After this course students should be capable of preparing financial statement for a comparatively simple company.

Business Law B - Introduction to Financial Law (VIÐ601G)

The course reviews legislation and legal issues that concern the financial markets, corporate finance and operations. Legal environment of financial companies will be reviewed, securities law, liability for experts, a chapter in the penal code act regarding wealth deeds and legal issues related to acquisitions and sales of corporations, due diligence, etc. The course will also review contracts and documents in the financial market, including loan-, purchase- and shareholder agreements.

Financial Statements B (VIÐ604M)

This course is a continuation of Financial Statements A, which is taught in the fall semester. It is expected that students of this course are fully familiar with the content of the course Financial Statements A.
The course will cover the principles in accounting under both IFRS and Icelandic law. Topics: cash flow, income tax, earnings per share, financial instruments, finance leases, assets held for sale and discontinued operations, investment properties, provision, information in the financial statements and related parties.
Assignments are part of the course, and students will need submit them.

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Portfolio Management (VIÐ604G)

The theory behind decisions of investors and corporations regarding building and managing asset and liability portfolios. Risk management of corporations will also be covered.

The course is taught in English

Strategy Formation and Implementation (VIÐ609G)

The learning path is in line with the structure of the textbook, starts with overall orientation and definitions. Then the focus is on external and internal analysis in order to assess the strategic situation of companies. After that issues of strategy development are covered and that of strategy implementation. The class will use different teaching methods and the students are required to work on cases and examples of real companies.

Spark Social (HSÞ602G)

The University of Iceland offers this transdisciplinary course for senior graduate students registered in all schools and disciplines across the University. The course is also open to students from all Aurora universities. The course combines online content, virtual sessions that take place over the semester, and a five-day capstone experience on-site at the university of Iceland.

Participants will gain insights into current and future challenges and learn about how these are being addressed. Participants will work in collaborative interdisciplinary teams under the guidance of experienced industry and academic leaders to apply their new knowledge toward developing their own recommendations for tackling immediate and foreseeable challenges. Students will gain a deeper understanding of their own strengths as well as developing methods and approaches for innovative thinking under the guidance of experienced teachers.

The course incorporates the approach of Social Entrepreneurship and Innovation, which is part of the Aurora Competency Framework. This concept includes both social entrepreneurship, a way to achieve social change by employing entrepreneurial principles with or without the formation of new organizations, and social innovation, a process of developing and deploying effective solutions to challenging and often systemic social and environmental issues in support of social progress.

The course relies on brief assignments worked on during the virtual sessions, intense group work on the days of the on-site capstone session, and preparation of final deliverable, which is presented on the final day of the on-site session.

The course is 6 ECTS credits. Successful completion of the course depends on completion of the preparatory work, participation in the group work, and completion of a satisfactory final project and deliverable during the on-site capstone session.

Digital marketing (VIÐ625G)

In order to meet the growing competition in the modern business environment, businesses and executives need to acquire skills to leverage the opportunities offered by the ever-changing digital technology in marketing. The aim of the course is to enhance the professional knowledge of students in this field and thereby their competitiveness in the labor market.

Internship (VIÐ033G)

Internship for undergraduate students in Business Administration within Icelandic firms/institutions. Available for students at their third year.
Each student can only complete one internship position.

Please send inquiries to vidskipti@hi.is

Operations Management (VIÐ404G)

Welcome to Operations Management!

Ever noticed how everything around us seems to somehow just work? That's what this course is all about – uncovering the fascinating world of processes in businesses and our daily lives. We'll explore how things get made, from the smallest gadget in your hand to the largest machines. It's not just about factories and assembly lines; we'll see how everything from your favourite coffee shop to the latest tech companies use processes to deliver what we love. We'll dive into how to design these processes, keep them running smoothly, and constantly improve them.

So get ready to look at the world around you in a whole new way, as a series of amazing processes making our lives better. Get ready to see the world like Operations Managers.