Economics BSc
What do I learn?
Taught in Icelandic. Proficiency in Icelandic is a requirement.
More information on courses taught in English can be found in the course catalogue
Economics explores economic activity's principles and dynamics, influencing everything from individual decision-making to global markets. Understanding these principles helps explain how resources are allocated, businesses thrive, and economic policies impact society’s financial well-being.
There are two study tracks available:
- BSc in Economics and Finance
- BSc in Economics and Management
The Economics and Finance programme focuses more on financial subjects, equipping students with a strong foundation in investment analysis, risk management, corporate finance, and financial markets. Students take more finance-related courses, and their elective options are restricted to finance.
On the other hand, the Economics and Management programme emphasises leadership, organisational strategy, and business operations. Students in this track take more management-focused courses, gaining decision-making, management and operations management skills. Their elective choices are not restricted to a specific field.
Both programmes provide a solid foundation in economics, but the key difference lies in whether students prefer a broader focus on finance or management.
What Is the Difference Between Business and Economics?
Economics focuses on allocating scarce resources at the individual, business, and societal levels. It examines production, consumption, and the broader consequences of economic decisions under constraints, shaping policies and strategies that influence markets and economic growth.
On the other hand, business studies apply economic principles within organisations, focusing on how companies operate, make strategic decisions, and compete in markets. Business covers areas such as management, finance and marketing, aiming to maximise efficiency, profitability, and long-term sustainability in a competitive environment.
Teaching methods
Group Work and Interdisciplinary Approach
Teaching is based on lectures, workshops, and theoretical and practical assignments. Students work in groups, enhancing their communication skills and engaging in interdisciplinary collaboration. The programme has a strong connection to business studies, which increases interdisciplinary opportunities and adds variety to the learning experience.
Courses in English
All teaching in the third year is conducted in English, along with several other courses earlier in the studies. This prepares students for graduate studies and careers in an international environment.
Career
Economists work across various fields, including the financial sector, Public administration and Business operations and management.
Further studies
After completing a bachelor's degree, students can pursue a master’s degree to further specialise.
Do you have questions about the study?
The teachers gave you the tools to solve various tasks during the semester. There is a great emphasis on group projects, and you are trained to work well with different people with all kinds of knowledge from the industry.
What surprised me the most was how many opportunities you get from your studies. For instance, I interned in risk management at Íslandsbanki, which I had not expected to do when I signed up for the programme.
Structure
Two study lines are available – see the programme structure below:
- BSc in Economics and Finance
- BSc in Economics and Management
Typically, students take five 6 ECTS credit courses per semester and one 1 ECTS credit course in Personal Development (31 ECTS), which is considered a full-time study load. Four 6 ECTS courses in addition to the 1 ECTS course are taught over 12 weeks, followed by an exam period. After the exams, students take three-week intensive courses, where the course material is applied in a practical context through project work, group work, and/or collaboration with companies.
Success in Studies and Careers
As part of the undergraduate programme in Business and Economics, students take six 1-ECTS-credit courses under the theme Success in Studies and Careers (Personal Development). These courses include:
- University Life
- Well-being
- Leadership Skills and Effective Teams
- Critical Thinking
- Public Speaking and Rhetoric
- Career Development
The goal of these courses is to further prepare students for the job market and future studies.
Three-week courses
Facilities
Everything in one place
At Reykjavik University, all teaching and operations take place under one roof. Emphasis is placed on ensuring that everyone has easy access to the services within the building.
Further information: Campus | Háskólinn í Reykjavík
Living in Iceland
Many things must be considered before arriving in Iceland and during the first few weeks of your stay. Find everything you need about living, studying, and thriving in Iceland here:
Why study economics at RU?
- Strong connections with the industry
- Outstanding local and international faculty with diverse backgrounds
- International Accreditation
- Practical preparation for the job market
- Diverse career opportunities
- Training for international careers
- Exchange programmes
- Internship