""
Language skills
required
Programme length
Full-time study for three semesters
Study mode
Face-to-face learning
Application status
International students:
Students with Icelandic or Nordic citizenship:
Overview

  • Are you interested in international projects?
  • Would you like a career in international business?
  • Do you want to work at an international company?
  • Do you want to learn more about commercial competitiveness and management practices?
  • Are you interested in understanding the complexity of managing multiple projects in an organizational environment?

This programme explores project management in international companies, with a strategic focus.

The programme is made up of eight courses and a final thesis and can be completed in one year. The language of instruction is English.

Programme structure

The programme is 90 ECTS and is organised as one year of full-time study.

The programme is made up of:

  • Mandatory courses, 45 ECTS
  • Elective courses, 15 ECTS
  • Final project, 30 ECTS

Organisation of teaching

Block teaching is used, with each block lasting seven weeks. There are two blocks per semester, with two courses taught concurrently, making a total of 8 courses over two semesters. This system allows students to concentrate on each course more effectively. The final thesis is written over the summer and submitted in September. Students graduate in October.

This programme is taught fully in English and textbooks are in English. International applicants who do not speak English as a native language may have to submit evidence of English proficiency. More about English Proficiency Requirements under Helpful content below.

Main objectives

After completing the programme, students should, for example:

  • have acquired a thorough knowledge and understanding of international business and the management of international projects.
  • be able to analyse the work environment within international companies and institutions and contribute towards policy making and implementation in such companies and institutions.

Other

Completing the programme allows a student to apply for doctoral studies.

The requirements for admission are a BA or BS degree. As a general rule, applicants shall have completed their undergraduate studies with a first-class GPA (7.25 or above).

Proof of English Proficiency Requirements 
All international applicants whose native language is not English, are required to provide proof of English proficiency. 
This can be in the form of TOEFL (ibt), IELTS (Academic), Cambridge English (CAE or CPE) or PTE Academic and PTE Academic online tests. Please note that your scores from the English test must be less than two years old by 1st of September in the year you intend to start your programme. 

 The required minimum scores are TOEFL 79, IELTS 6.5, PTE 58. 

 Other ways to fulfil the English proficiency requirement are described in detail on the University of Iceland website.

MA degree in International Business and Project Management is a total of 90 ECTS, including a thesis of 30 ECTS.

The following documents must accompany an application for this programme:
  • CV
  • Statement of purpose
  • Reference 1, Name and email
  • Reference 2, Name and email
  • Certified copies of diplomas and transcripts

Non-Icelandic applicants with a degree from another country must submit evidence of English proficiency if their native language is not English.
Minimum score: TOEFL 79, IELTS 6.5 or PTE 58.

Further information on supporting documents can be found here

Programme structure

Check below to see how the programme is structured.

This programme does not offer specialisations.

First year | Fall
Microeconomics of Competitiveness (VIÐ174M)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The course is based on a series of cases according to the course outline. Each case is carefully prepared for this course and a guideline for the reading material is also provided and the readings are related to the cases in question. It is the case discussion that drives the learning process. The order of the cases reflect the design of the course. The first case addresses competitiveness from an overall point of view. Then the focus is on how international and specialized the distribution of the value chain has become in the developed countries, which has resulted in clusters and cluster activities. The cases also address the role of government and the role of institutes of collaboration. The cases covered address different key issues in many industries and in many parts of the world, both in developed and developing countries. The key subject is how to understand the key aspects of National Economic Strategy. The class uses the case teaching method (the Harvard model) and it is the students that do analyse the cases through their discussion which is facilitated by the teacher. The students also prepare an extensive team project (a cluster analysis) and present their results in class. In addition the student write an individual report on the subject.

Language of instruction: English
Face-to-face learning
Prerequisites
Course taught in period I
First year | Fall
Corporate Governance (VIÐ198F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

The course is taught in English.

Language of instruction: English
Face-to-face learning
Course taught in period II
First year | Fall
International Business (VIÐ180F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

This course deals with the internationalization of firms, the global trade environment, strategic management of international firms, intercultural communication and other issues of international business. In the course cases and articles from scholarly journals will be used. The students will also carry out project work and in-class assignments, participate in discussions of cases etc. In this course students are expected to be very active in discussions and the course will be taught in English.

Language of instruction: English
Face-to-face learning
Prerequisites
Attendance required in class
Course taught in period II
First year | Fall
Research methods (VIÐ1A6F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The goal of this course is to give students insight into diversity of quantitative and qualitative research methods and its application in organizational setting. Students will learn about data collection, analysis, and reporting methods, in line with defined research problem and research question. Critical thinking demanding assignments in this course will prepare students for analytical work in their professional path and their Master’s thesis research.

Language of instruction: English
Face-to-face learning
Attendance required in class
Course taught in period I
First year | Fall
Lean and Agile principles (VIÐ188F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Prerequisites
Course taught in period II
First year | Fall
Asian Business Studies (Japan and China) (VIÐ506M)
Free elective course within the programme
7,5 ECTS, credits
Course Description

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.
Language of instruction: English
Face-to-face learning
Prerequisites
First year | Spring 1
Performance measurement and management (VIÐ290F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

 This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Course taught in period IV
First year | Spring 1
Organizational project management and international projects (VIÐ277F)
A mandatory (required) course for the programme
7,5 ECTS, credits
Course Description

The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

Language of instruction: English
Face-to-face learning
Course taught in period III
First year | Spring 1
Leadership and future of organizations (VIÐ289F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
The aim is to:

  • To introduce students to the most current developments in business environment.
  • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
  • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
  • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
  •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
Language of instruction: English
Face-to-face learning
Course taught in period III
First year | Spring 1
Diversity and Inclusion in Organizations (VIÐ288F)
Free elective course within the programme
7,5 ECTS, credits
Course Description

This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

The course is taught in English

Language of instruction: English
Face-to-face learning
Course taught in period IV
First year | Summer
MA Thesis (AVS001L)
A mandatory (required) course for the programme
30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

Application for closing master's thesis.

Language of instruction: English
Self-study
Part of the total project/thesis credits
Second year | Fall
MA Thesis (AVS001L)
A mandatory (required) course for the programme
30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

Application for closing master's thesis.

Language of instruction: English
Self-study
Part of the total project/thesis credits
Second year | Spring 1
MA Thesis (AVS001L)
A mandatory (required) course for the programme
30 ECTS, credits
Course Description

The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

Application for closing master's thesis.

Language of instruction: English
Self-study
Part of the total project/thesis credits
First year
  • Fall
  • VIÐ174M
    Microeconomics of Competitiveness
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course is based on a series of cases according to the course outline. Each case is carefully prepared for this course and a guideline for the reading material is also provided and the readings are related to the cases in question. It is the case discussion that drives the learning process. The order of the cases reflect the design of the course. The first case addresses competitiveness from an overall point of view. Then the focus is on how international and specialized the distribution of the value chain has become in the developed countries, which has resulted in clusters and cluster activities. The cases also address the role of government and the role of institutes of collaboration. The cases covered address different key issues in many industries and in many parts of the world, both in developed and developing countries. The key subject is how to understand the key aspects of National Economic Strategy. The class uses the case teaching method (the Harvard model) and it is the students that do analyse the cases through their discussion which is facilitated by the teacher. The students also prepare an extensive team project (a cluster analysis) and present their results in class. In addition the student write an individual report on the subject.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ198F
    Corporate Governance
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

    The course is taught in English.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ180F
    International Business
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course deals with the internationalization of firms, the global trade environment, strategic management of international firms, intercultural communication and other issues of international business. In the course cases and articles from scholarly journals will be used. The students will also carry out project work and in-class assignments, participate in discussions of cases etc. In this course students are expected to be very active in discussions and the course will be taught in English.

    Face-to-face learning
    Prerequisites
    Attendance required in class
    Course taught in period II
  • VIÐ1A6F
    Research methods
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of this course is to give students insight into diversity of quantitative and qualitative research methods and its application in organizational setting. Students will learn about data collection, analysis, and reporting methods, in line with defined research problem and research question. Critical thinking demanding assignments in this course will prepare students for analytical work in their professional path and their Master’s thesis research.

    Face-to-face learning
    Prerequisites
    Attendance required in class
    Course taught in period I
  • VIÐ188F
    Lean and Agile principles
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ506M
    Asian Business Studies (Japan and China)
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    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.
    Face-to-face learning
    Prerequisites
  • Spring 2
  • VIÐ290F
    Performance measurement and management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

    This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

     This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ277F
    Organizational project management and international projects
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ289F
    Leadership and future of organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

    Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
    The aim is to:

    • To introduce students to the most current developments in business environment.
    • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
    • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
    • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
    •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ288F
    Diversity and Inclusion in Organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

    The course is taught in English

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • Summer
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • Fall
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • Spring 2
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
Second year
  • Fall
  • VIÐ174M
    Microeconomics of Competitiveness
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course is based on a series of cases according to the course outline. Each case is carefully prepared for this course and a guideline for the reading material is also provided and the readings are related to the cases in question. It is the case discussion that drives the learning process. The order of the cases reflect the design of the course. The first case addresses competitiveness from an overall point of view. Then the focus is on how international and specialized the distribution of the value chain has become in the developed countries, which has resulted in clusters and cluster activities. The cases also address the role of government and the role of institutes of collaboration. The cases covered address different key issues in many industries and in many parts of the world, both in developed and developing countries. The key subject is how to understand the key aspects of National Economic Strategy. The class uses the case teaching method (the Harvard model) and it is the students that do analyse the cases through their discussion which is facilitated by the teacher. The students also prepare an extensive team project (a cluster analysis) and present their results in class. In addition the student write an individual report on the subject.

    Face-to-face learning
    Prerequisites
    Course taught in period I
  • VIÐ198F
    Corporate Governance
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The purpose of this course is to provide students with an in-depth understanding of corporate governance and how corporate governance influences corporate performance. More specifically students will learn to identify and analyze corporate governance problems, learn to assess how corporate governance shapes the behavior of the board and learn to analyze how the corporate governance structure of a particular company is likely to influence its performance. The following topics and concepts are covered: The course will introduce the students to corporate governance issues and teach them to analyze how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and thereby influence corporate performance. Using this framework, the course will then study the impact of corporate governance on corporate performance depending on comany-specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.

    The course is taught in English.

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ180F
    International Business
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    This course deals with the internationalization of firms, the global trade environment, strategic management of international firms, intercultural communication and other issues of international business. In the course cases and articles from scholarly journals will be used. The students will also carry out project work and in-class assignments, participate in discussions of cases etc. In this course students are expected to be very active in discussions and the course will be taught in English.

    Face-to-face learning
    Prerequisites
    Attendance required in class
    Course taught in period II
  • VIÐ1A6F
    Research methods
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The goal of this course is to give students insight into diversity of quantitative and qualitative research methods and its application in organizational setting. Students will learn about data collection, analysis, and reporting methods, in line with defined research problem and research question. Critical thinking demanding assignments in this course will prepare students for analytical work in their professional path and their Master’s thesis research.

    Face-to-face learning
    Prerequisites
    Attendance required in class
    Course taught in period I
  • VIÐ188F
    Lean and Agile principles
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course provides students a practical guide towards Lean and Agile principles, and the application of the tools and techniques within these improvement philosophies.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period II
  • VIÐ506M
    Asian Business Studies (Japan and China)
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    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.
    Face-to-face learning
    Prerequisites
  • Spring 2
  • VIÐ290F
    Performance measurement and management
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    Performance management is a central part of every organisation and project. It helps to ensure our actions are aligned with our strategic priorities. This course will help students to connect the dots between strategic and operational levels in work settings, and how performance management philosophies and frameworks can be used by leaders and managers to ensure the achievement of our strategic objectives.

    This course relies on case studies and in-class activities to take students as close as it is possible in a classroom setting to real-life scenarios where performance management can be used to support decision making towards achieving success.

     This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • VIÐ277F
    Organizational project management and international projects
    Mandatory (required) course
    7,5
    A mandatory (required) course for the programme
    7,5 ECTS, credits
    Course Description

    The course emphasizes international projects and the management of project portfolios. Issues covered in Project management I/Project Management Methodology are covered in more depth and in relation to international projects and project portfolios. First, emphasis is put on the management of many projects at the same time, including project portfolio management, program management and the project management office. Second, emphasis is put on the management of international projects or project portfolios in international companies. The course emphasizes that students work together on projects and get to know project management in the Icelandic economy.

    This course follows a hybrid structure. Half of the course is delivered online—students are provided flexibility and can watch pre-recorded lecture videos at their convenience. However, no later than indicated in the teaching plan.
    The rest of the course material will be delivered in workshops that will be held on-campus, and must be attended in-person by the enrolled students. These workshops account for up to 70% of the grade (course assessments).

    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ289F
    Leadership and future of organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    The main objective of the course is to  introduce to students the rage of developments that will affect organizations in the future and the role of sustainability in future of business. Furthermore, students will develop good overview regarding how these new developments are interconnected within organizations and across markets.

    Rapid changing environment surrounding organization requires to look at the present developments, but even more importantly, the future of organizations. Therefore in this course the most contemporary management phenomenon already present in today’s business world are addressed. This course is unique in its focus on the future of organizations, within sustainability context, presenting holistic view of the organization and its context. The curriculum is built on most currect scientific findings, practical examples and assignments.
    The aim is to:

    • To introduce students to the most current developments in business environment.
    • To examine the effects of the current micro and macro developments in business and its effects for the future organizations.
    • To apply theoretical knowledge to an understanding of real-world processes through class discussion, research, and application essays.
    • To promote critical thinking about the interconnectedness of elements within organization and its context at mezzo and macro level.
    •  To provide insight regarding how theoretical lens can help us to prepare better for the future.
    Face-to-face learning
    Prerequisites
    Course taught in period III
  • VIÐ288F
    Diversity and Inclusion in Organizations
    Elective course
    7,5
    Free elective course within the programme
    7,5 ECTS, credits
    Course Description

    This course offers students the opportunity to recognize the need to develop inclusive work environments that operate on equity principles as well as value, support and engage all employees. Students learn to identify social justice/exclusion issues related to nondominated culture cohorts associated with race, ethnicity, age, gender, religion, sexual orientation, disability, and other aspects of diversity in organizations and apply their knowledge to analyzing and implementing inclusion initiatives in organizations. Students are engaged in the study of recent scholarly research in the field in order to develop their critical thinking on topics such as identity, diverse teams, (un)conscious bias, and equality of opportunity in organizations and how they relate to the value of diversity in organizations.

    The course is taught in English

    Face-to-face learning
    Prerequisites
    Course taught in period IV
  • Summer
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • Fall
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
  • Spring 2
  • AVS001L
    MA Thesis
    Mandatory (required) course
    30
    A mandatory (required) course for the programme
    30 ECTS, credits
    Course Description

    The topic of the master's thesis must be chosen after consulting the thesis advisor(s), who must be full-time faculty at the School of Business.

    The thesis must equal 30 credits and coursework shall equal 60 credits to fulfill the requirements for applying to the research study fund (Rannsóknanámssjóður). The thesis must be presented at a departmental seminar.The thesis must be submitted online no later than the specified dates before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an external examiner.

    Please note! According to the rules of the University of Iceland, all MA theses must be open after they have been submitted to the University Library. If a student wishes for its MA thesis be closed for a certain period of time, after graduation, they need the approval of their supervisor and the dean of the department. Maximum closure is 5 years. It is preferable to apply for the authorization before writing the thesis.

    Application for closing master's thesis.

    Self-study
    Prerequisites
    Part of the total project/thesis credits
Additional information

The University of Iceland collaborates with over 400 universities worldwide. This provides a unique opportunity to pursue part of your studies at an international university thus gaining added experience and fresh insight into your field of study.

Students generally have the opportunity to join an exchange programme, internship, or summer courses. However, exchanges are always subject to faculty approval.

Students have the opportunity to have courses evaluated as part of their studies at the University of Iceland, so their stay does not have to affect the duration of their studies.

An education in this area can open up opportunities in:

  • management of international companies
  • management of international projects
  • various careers in international business

This list is not exhaustive.

More about the UI student's social life.

Students' comments
Portrait photo of Danielle
My impression was that the course was well-structured, there was a clear progression, for example the Lean and Agile class prepared us for the Organizational Project management and international projects class. The instructors provided great guidance and facilitated discussions which kept everyone engaged, the different types of assessment gave us the opportunity to demonstrate what we learned in different ways.
""
Coming from an IT project management background, I chose this program to enhance my expertise in managing international projects. A key highlight in the program was the opportunity to spend a semester abroad at a partner university in Australia. Additionally, I am currently completing an internship at an international IT company in Iceland. These opportunities have not only refined my academic skills but also provided valuable networking connections. Following the completion of my master’s degree, I was also accepted into the PhD program in Business Administration. Thanks to this program I was able to network and access professional opportunities while furthering my education.
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The School office offers support to students and lecturers, providing guidance, counselling, and assistance with various matters. 

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