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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

 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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

 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.

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.

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.

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.

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.

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

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.

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.

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.

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.