Department of -Business and Economics
The Department
The Department of Business and Economics at Reykjavik University provides a dynamic environment for education and research, focusing on practical and innovative applications of business and economic principles. The Department of Business and Economics emphasises quality of teaching, innovation, international scope and good relations with students. It provides a broad selection of undergraduate programmes in business and economics, several MSc and master´s level programmes, an Executive MBA, and a doctoral programme. The department is enriched by full-time faculty and part-time lecturers actively involved in Icelandic and international businesses or teaching at other academic institutions. When students graduate, they have a strong theoretical foundation, specialised skills and competencies, and a strong sense of initiative and responsible decision-making. The department provides students with a strong foundation in finance, accounting, marketing, management, innovation and economics. Close collaboration with businesses, practical projects and internships give students a competitive advantage.
Undergraduate, graduate, and PhD
The department offers BSc programmes in business administration and economics, several master's programmes, an Executive MBA programme and a PhD programme.
BSc-programmes
The department offers varied BSc courses, of which about one-third are taught in English. At the undergraduate level, students can choose between business administration and economics. In response to business demand, the department has introduced BSc degrees with minors in computer science and law to provide a broad, interdisciplinary education.
Exceptional master's programmes
The department was the first in Iceland to offer an international Executive MBA programme, and many managers across Icelandic and international sectors hold an Executive MBA from RU. At the graduate level, all courses are taught in English. Several MSc and master´s level programmes also offer specializations aligned with market needs, enabling students to complete their studies within 14 months.
International accreditations
The department’s undergraduate programmes and the Executive MBA programme are internationally accredited. EFMD has accredited the Business Administration and Economics undergraduate degree, while AMBA has accredited the Executive MBA programme.
Research
Research is an integral part of the Department of Business and Economics activities. The Department of Business and Economics shares Reykjavik University’s research strategy with the main goal of developing powerful research that provides industry and the community with new knowledge infuses teaching with new knowledge and insight and strengthens the Department’s and the University’s international reputation.
The department's research areas include, but are not limited to, economics and finance, marketing, innovation and entrepreneurship, management, and human resource management.
Main Research Areas
- Finance
- Economics
- Human Resource Management
- Marketing and Consumer Psychology
- Innovation and Entrepreneurship
- Management Accounting
- Labor Economics
Research Centres
Faculty
The Department of Business and Economics boasts a diverse team of dedicated full-time faculty and distinguished visiting professors. Our academics are committed to advancing research and providing high-quality education.
Academic Faculty
Fields of research: Negotiations, Cultural Communication.
Link to the research profile
Fields of research: Labor Economics, Applied Microeconomics.
Link to research profile
Fields of research: Econometrics, Statistics, Micro- and Macroeconomics.
Link to research profile
Fields of research: Fisheries Science.
Visiting Professors
Fields of research:
Entrepreneurial Finance, Venture Capital.
Link to research profile
Part-Time Lectures
The Department of Business and Economics benefits from the expertise of part-time lecturers who also teach at other respected academic institutions. Furthermore, a diversified team of part-time lecturers from the industry is also frequently recruited. They complement the Department's full-time academics and researchers by bringing real-world experience and current business views into the academic setting.
Department Office
Master´s programmes
BSc programmes
Master´s programmes
Department Chair
Dr. Stefan Wendt
Contribution
Information for Students
The undergraduate students who achieve the best results in each exam period can be on the faculty's president's list and have their tuition fees waived for the next semester.
Dean's Selection Grant
Students in the master's programme may be eligible for a Dean's Scholarship. This grant offers a partial cancellation of tuition fees.
Contact Information
Appointments or assistance requests can be made by contacting the department's office
Organisation
Department Chair
The Department Chair acts as the Department's manager, supervising its activities and budget with the Dean of the School of Social Sciences. The Dean nominates the Chair, appoints teachers and other department staff, and serves a significant part in setting departmental policies and monitoring day-to-day operations. The Department Chair develops the budget for financial planning, which is subsequently submitted for approval to the RU Executive Board as part of the overall university budget. The Chair also serves as the Department's leader, appointing the department council, convening meetings, and holding regular department meetings to promote communication and collaboration.
Council and committees
The Department of Business and Economics Research Council (DBERC) advises the Department Chair on the preparation of the Department's research plan and supports the progress of the plan. The Research Council actively participates in internal and external assessments related to research. DBERC is responsible for supervising the Department’s PhD programme; it makes recommendations to the Chair of the Department concerning the admission of students to the PhD programme and recommends the appointment of supervisors and thesis committees. The DBERC and supervisors observe the development of doctoral studies at the international level and monitor the quality of the Department’s PhD programme. Within the Department’s and University’s quality assurance, DBERC is involved in the quality assurance of the Department’s doctoral studies.
The Research Council is comprised of permanent department employees appointed by the department chair for two years. The Department Chair appoints the chair of the Research Council of a Department.
Currently, the members of the Department of Business and Economics Research Council are:
- Dr. Susanne Durst, Professor and the Director of the PhD programme
- Dr. Ewa Ryszarcyk Lazarczyk Carlson, Associate Professor
- Dr. Valdimar Sigurðsson, Professor
- Hrund Steingrímsdóttir, PhD Programme Administrator