International business and marketing studies prepare students for working in an international business environment. The programmes aim to deepen the student´s understanding of marketing and the international business environment, as well as strengthen analytical and communication skills, and the ability to develop and make use of business opportunities in an international operating environment. Students will also develop strong critical thinking skills and become adept in using independent and scientific work methods.

  • The programme is taught in English but elective courses taught in Icelandic are also available.
  • Our student body comes from all over the world, including a number of exchange students from our partner universities.
  • Our curriculum is developed in consultation with leading Icelandic companies ensuring the content is relevant to today´s business environment.

Semester abroad or Internship

In the third semester, students undertake either a semester abroad, at one of our partner universities, or an internship. Students can apply for ERASMUS or NORDPLUS grants to finance their period of study abroad. This is an important part of the programme providing students with a unique opportunity to explore the world and prepare for the challenges that professionals face in the ever-changing international business world.

Teaching methods

Each course in the programme is designed to foster a dynamic interaction among students and professors in order to promote a rich learning environment. The teaching environment helps students develop a knowledge base and set of professional skills, and provides a firm foundation for advanced academic study or for entering the global marketplace.


Dean´s Selection Grant for RU School of Business graduate students.

The recipient of the Dean´s Selection Grant pays undergraduate fees instead of graduate fees.

  • An application for a full-time graduate programme is also an application for the Dean´s Selection Grant for the first semester.
  • Students with the highest grade in a graduate programme each semester are applicable. In order to receive the award students must complete 30 ECTS units per semester and follow the programme structure.

The MSc is ordinarily completed in 2 years, or four semesters of study. A full semester of study is 30 ECTS. To complete the MSc degree, students must submit a Master's thesis (30 ECTS). The preparation for the Master's thesis starts in the third semester at which time the student selects a supervisor and submits a research proposal by the end of the semester. It is assumed that students will participate in a student exchange at a university in the third semester. Instead of going on a student exchange, students can request an internship abroad.

This is a full-time programme. Students who intend to work alongside their studies are advised to enrol part-time.

Admission requirements

  • BSc Business Administration or related field.
  • Individuals with a degree in other fields can apply for admission to the programme (MSc and MIBM) provided that upon starting the programme, they have completed undergraduate courses in accounting and managerial accounting, or will take such courses at RU in place of elective courses during their studies.
  • Excellent English language skills.
  • Further education and professional experience benefit applicants in the evaluation process.

Applications and accompanying documents

All applicants must submit an electronic application and attach the required accompanying documents. The following documents need to accompany applications (they should be supplied in English)

  • Curriculum vitae with a photograph
  • Official transcripts of diplomas (scanned diplomas are not accepted)
  • Official university transcripts of records
  • Personal statement (Why are you applying to the programme and what is your aim in pursuing the programme? [up to 300 words in English])
  • One letter of recommendation from an individual who can assess the ability of the applicant to pursue the programme. The letter may be in English or Icelandic and should be sent directly from the referee in question to the Master's Programme Administrator in the School of Business at

Official transcripts of diplomas should be sent to the reception of RU, Menntavegur 1, IS-101 Reykjavík, Iceland. Accompanying documents need to arrive by the application deadline.

Applicants are only summoned for an interview if they have submitted all required accompanying documents on time.

Application deadline

The application deadline for the fall semester is 30 April.

Applicants outside the EU/EEA must submit an application prior to 1 February.

Application fee: Non-EEA/EU applicants must pay an application fee of 100 EUR and send the receipt of payment along with the required documents.

Evaluation of previous studies

If students have completed university courses at the master´s level, they can apply for those previous studies to be evaluated for transfer of credit.

Program taught in:

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Last updated April 20, 2018
This course is Campus based
Start Date
Aug. 2019
2 years
419,000 ISK
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Deadline is April 30th for EU/EEA students.
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