This programme is designed for students who have completed a BS in business administration or economics and want to pursue graduate studies in a chosen area of business administration.
An MS programme is at least 90 ECTS: 60 ECTS in courses and a thesis worth at least 30 ECTS.
The programme is 90 ECTS and is organised as one and a half years of full-time study.
The programme is made up of:
Students build close links with the business world through:
Courses are taught in blocks of seven weeks. Two courses are taught during each block. Final exams are held in the eighth week.
Students can tailor the programme to suit their interests by choosing between a wide range of elective courses at the Faculty. There are only two mandatory courses on this programme; all others are electives.
This programme is taught in Icelandic but most textbooks are in English.
The programme aims to thoroughly prepare students for future careers. After completing the programme, students will be able to demonstrate knowledge of business administration and the ability to apply theoretical methods and draw conclusions from their findings.
Completing the programme allows you to apply for doctoral studies.
are a BA, BS, or cand.oecon. degree in business administration, economics, or comparable. Applicants holding university degrees in other fields are considered to fulfil the requirements if they have completed a 60ECTS minor in business administration or economics. As a general rule, applicants shall have completed their undergraduate studies with a first-class GPA (7.25 or above).
90 ECTS credits have to be completed for the qualification including a thesis of 30 ECTS credits.
Further information on supporting documents can be found here
Check below to see how the programme is structured.
This programme does not offer specialisations.
Valuation of companies and investment appraisal. The course covers the content of financial statements and their analysis in relation to business valuation and investment assessment. Various valuation methods suitable for different types of firms are reviewed, including operating companies, real estate companies, banks, insurance companies, and others.
The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.
The course addresses ethical challenges in business operations and how they manifest within companies and in their interactions with stakeholders, public authorities, and society at large. Emphasis is placed on students analysing, applying, evaluating, arguing for, and developing ethical solutions to real business issues based on theories in business ethics.
Teaching materials and assignments are based on realistic case studies, academic texts, and collaboration with industry partners. Students work systematically on identifying ethical dilemmas, applying theoretical approaches, evaluating different corporate responses, justifying their own ethical positions, and formulating practical proposals for processes and/or policies within complex societal contexts.
The course also emphasises that students develop a conscious and responsible attitude toward their own role as professionals and managers, in line with the University of Iceland’s values of social responsibility, equality, sustainability, and innovation, guided by sound ethical principles.
Students choose the course scope based on ECTS credits. The course may be taken as 7.5 ECTS, 6 ECTS (students from Philosophy), 3 ECTS, or 1.5 ECTS.
Please note that the course is taught in the first teaching block of the autumn semester, according to the block structure of the Master’s programme at the School of Business.
The course is designed, through lectures and discussion of the course material, to enable students to acquire knowledge of strategy and strategic management based on the diverse theoretical foundations that exist within the field. Through work with case studies and Icelandic real‑world examples, students are systematically encouraged to develop their skills and competencies in this area.
The course examines strategic management from several perspectives and across different types of organizations. Considerable attention is given to situational analysis and the assessment of both the external and internal environment, the formulation of strategy, and the practical implementation and progression of strategic work. The course delves into strategy from viewpoints including innovation, mergers, collaboration, power, and stakeholder interests.
The teaching approach reflects the understanding that learning is a process aimed at improving competence, where course content, context, and learning progression interact. All activities in the course are designed to support students in achieving the best possible learning outcomes — although success naturally depends on the student’s engagement and consistent effort.
The goal of the course is to give students insight into qualitative research methods, and their use in gathering and analysing data on the individual and organizational level. Students will be trained in defining a research problems and presenting them in a research question. Students will further plan and execute data gathering and analysing, as well as presenting the findings in a written report. Students will learn about the strengths and weaknesses of qualitative research so as to be able to choose the best method to study a given problem.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
Valuation of companies and investment appraisal. The course covers the content of financial statements and their analysis in relation to business valuation and investment assessment. Various valuation methods suitable for different types of firms are reviewed, including operating companies, real estate companies, banks, insurance companies, and others.
The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.
The course addresses ethical challenges in business operations and how they manifest within companies and in their interactions with stakeholders, public authorities, and society at large. Emphasis is placed on students analysing, applying, evaluating, arguing for, and developing ethical solutions to real business issues based on theories in business ethics.
Teaching materials and assignments are based on realistic case studies, academic texts, and collaboration with industry partners. Students work systematically on identifying ethical dilemmas, applying theoretical approaches, evaluating different corporate responses, justifying their own ethical positions, and formulating practical proposals for processes and/or policies within complex societal contexts.
The course also emphasises that students develop a conscious and responsible attitude toward their own role as professionals and managers, in line with the University of Iceland’s values of social responsibility, equality, sustainability, and innovation, guided by sound ethical principles.
Students choose the course scope based on ECTS credits. The course may be taken as 7.5 ECTS, 6 ECTS (students from Philosophy), 3 ECTS, or 1.5 ECTS.
Please note that the course is taught in the first teaching block of the autumn semester, according to the block structure of the Master’s programme at the School of Business.
The course is designed, through lectures and discussion of the course material, to enable students to acquire knowledge of strategy and strategic management based on the diverse theoretical foundations that exist within the field. Through work with case studies and Icelandic real‑world examples, students are systematically encouraged to develop their skills and competencies in this area.
The course examines strategic management from several perspectives and across different types of organizations. Considerable attention is given to situational analysis and the assessment of both the external and internal environment, the formulation of strategy, and the practical implementation and progression of strategic work. The course delves into strategy from viewpoints including innovation, mergers, collaboration, power, and stakeholder interests.
The teaching approach reflects the understanding that learning is a process aimed at improving competence, where course content, context, and learning progression interact. All activities in the course are designed to support students in achieving the best possible learning outcomes — although success naturally depends on the student’s engagement and consistent effort.
The goal of the course is to give students insight into qualitative research methods, and their use in gathering and analysing data on the individual and organizational level. Students will be trained in defining a research problems and presenting them in a research question. Students will further plan and execute data gathering and analysing, as well as presenting the findings in a written report. Students will learn about the strengths and weaknesses of qualitative research so as to be able to choose the best method to study a given problem.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
Valuation of companies and investment appraisal. The course covers the content of financial statements and their analysis in relation to business valuation and investment assessment. Various valuation methods suitable for different types of firms are reviewed, including operating companies, real estate companies, banks, insurance companies, and others.
The goal of this course is to strengthen the statistics and methodology knowledge of the students to enable them to better understand research methods and research findings. State-of-the-art research will be reviewed and the statistics and methodology required to conduct this research will be discussed. Students will also conduct their own research project in preparation for analytical work in their professional life and their Master’s thesis.
The course addresses ethical challenges in business operations and how they manifest within companies and in their interactions with stakeholders, public authorities, and society at large. Emphasis is placed on students analysing, applying, evaluating, arguing for, and developing ethical solutions to real business issues based on theories in business ethics.
Teaching materials and assignments are based on realistic case studies, academic texts, and collaboration with industry partners. Students work systematically on identifying ethical dilemmas, applying theoretical approaches, evaluating different corporate responses, justifying their own ethical positions, and formulating practical proposals for processes and/or policies within complex societal contexts.
The course also emphasises that students develop a conscious and responsible attitude toward their own role as professionals and managers, in line with the University of Iceland’s values of social responsibility, equality, sustainability, and innovation, guided by sound ethical principles.
Students choose the course scope based on ECTS credits. The course may be taken as 7.5 ECTS, 6 ECTS (students from Philosophy), 3 ECTS, or 1.5 ECTS.
Please note that the course is taught in the first teaching block of the autumn semester, according to the block structure of the Master’s programme at the School of Business.
The course is designed, through lectures and discussion of the course material, to enable students to acquire knowledge of strategy and strategic management based on the diverse theoretical foundations that exist within the field. Through work with case studies and Icelandic real‑world examples, students are systematically encouraged to develop their skills and competencies in this area.
The course examines strategic management from several perspectives and across different types of organizations. Considerable attention is given to situational analysis and the assessment of both the external and internal environment, the formulation of strategy, and the practical implementation and progression of strategic work. The course delves into strategy from viewpoints including innovation, mergers, collaboration, power, and stakeholder interests.
The teaching approach reflects the understanding that learning is a process aimed at improving competence, where course content, context, and learning progression interact. All activities in the course are designed to support students in achieving the best possible learning outcomes — although success naturally depends on the student’s engagement and consistent effort.
The goal of the course is to give students insight into qualitative research methods, and their use in gathering and analysing data on the individual and organizational level. Students will be trained in defining a research problems and presenting them in a research question. Students will further plan and execute data gathering and analysing, as well as presenting the findings in a written report. Students will learn about the strengths and weaknesses of qualitative research so as to be able to choose the best method to study a given problem.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
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 amounts to 30 credits and must be presented at a departmental seminar.
The thesis must be submitted online no later than the specified dates that are announced before each graduation. Grades for a master's thesis are awarded by the thesis advisor(s) and an outside reader.
Changes may occur for the autumn semester in August and September and for the spring semester in December and January. You will find your final timetable in Ugla when the studies start.
Note! This timetable is not suitable for planning your work schedule if you are a part-time employee.
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.
After completing the programme, students will be familiar with Icelandic and international business practices and in a strong position to apply for specialist jobs in the private or public sector, either in Iceland or abroad.
For example, graduates may work in:
This list is not exhaustive
What interests you?
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If you still have questions, feel free to contact us.
The School office offers support to students and lecturers, providing guidance, counselling, and assistance with various matters.
You are welcome to drop by at the office in Gimli or you can book an online meeting in Teams with the staff.
