Business in Iceland (Course, Master)

EENI Business School & HA University

Syllabus of the Online Subject - Doing Business in Iceland. Reykjavík.

  1. Introduction to the Republic of Iceland (Europe, EFTA)
  2. Icelandic Economy
  3. Doing Business in Reykjavík
  4. Icelandic Foreign Trade
  5. Access to the Icelandic Market
  6. Business Plan for Iceland

The objectives of the Online Subject “Doing Business in Iceland” are the following:

  1. To analyse the Icelandic Economy and Foreign Trade
  2. To know the business opportunities in the Icelandic Market
  3. To analyse trade relations of Iceland with the student's country
  4. To know the Icelandic Free Trade Agreements
  5. To develop a business plan for the Icelandic Market

The eLearning Subject “Foreign Trade and Business in Iceland” is part of the following Online Higher Education Programs taught by EENI Business School & HA University:
  1. Masters: International Business, Foreign Trade, Europe
  2. Course: Business in EFTA States
  3. Doctorates: Business in Europe, Global Trade

Iceland, Master Doctorate Business Tertiary Education programs adapted to Icelandic Students

The course materials are available in Master in International Business in English + Study Master Doctorate Business in Spanish Islandia Study, Master in International Business in French Islande Masters Foreign Trade in Portuguese Islândia.

  1. Credits of the Online Subject “Doing Business in Iceland”: 1 ECTS
  2. Duration: one week

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Paterson Ngatchou: EENI Academic Coordinator for Anglophone Countries
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Description of the Online Subject: Doing Business in Iceland

The Republic of Iceland (Europe)

  1. Icelandic Capital: Reykjavík
  2. Official Language: Icelandic
  3. Icelandic Area: 103,000 square kilometres
  4. Icelandic Population: 323,002 people
  5. Type of Government: Parliamentary Republic
  6. Independence: 1944 (Norway)

Religion in Iceland: Christianity Protestant Lutheran

Iceland belongs to Western-Christian Civilisation (European Economic Area)

Icelandic Economy.

  1. The Republic of Iceland is a market economy with an excellent Welfare State (Universal health care and free higher education)
  2. Iceland is the smallest economy of the OECD member countries
  3. Collapse of the financial system in 2008, severe economic crisis
  4. Icelandic GDP (nominal): 12,133 million dollars
  5. GDP per capita: 37,976 dollars
  6. Currency: Icelandic króna
  7. Taxes in Iceland are quite small compared to other OECD countries
  8. Iceland lacks natural resources but has a lot of hydropower (the first country in the world of electricity per capita produce) and geothermal
  9. Aluminium casting is also outstanding, with three factories
  10. State intervention is quite strong, especially in agriculture
  11. Tourism sector represents 3% of the Icelandic GDP
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 Icelandic Foreign Trade

  1. Icelandic fishing industry accounts for 40% of its exports
  2. The main Icelandic exports are fish, marine products, aluminium and ferrosilicon
  3. Top Icelandic exports destinations are Netherlands (37%), the United Kingdom, Spain, Germany
  4. The main Icelandic imports are machinery and equipment, petroleum products, food products, textiles
  5. The main suppliers of Iceland are Norway (16%), the United States, Germany, China, Brazil, Denmark
  6. Iceland as a member of the European Free Trade Association (EFTA) has trade agreements with Macedonia, Albania, Mexico, Montenegro, Bosnia and Herzegovina, Colombia, Georgia, Peru, Chile, Egypt, Tunisia, Central America, the Philippines, Canada, Turkey, Lebanon, Singapore, India, South Korea, European Free Trade Association, Gulf Cooperation Council, Serbia, Morocco, Jordan, Southern African Customs Union (SACU), etc

EFTA-Bosnia and Herzegovina Free Trade Agreement (Course)

International Economic Relations of Iceland

  1. European Free Trade Association (EFTA)
  2. Council of the Baltic Sea States
  3. OECD
  4. United Nations
  5. International Chamber of Commerce
  6. World Bank
  7. World Trade Organisation
  8. Economic Commission for Europe (UNECE)
  9. International Monetary Fund (IMF)
  10. Organisation for Security and Cooperation in Europe (OSCE)
  11. European Investment Bank (EIB)
  12. European Bank for Reconstruction and Development

Examples of the Subject - Foreign Trade and Business in Iceland:

Samples - Iceland

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EFTA-Jordan Free Trade Agreement (Course)

EFTA-Ukraine Free Trade Agreement (Course)

EFTA-Georgia Free Trade Agreement (Course)

Chile-EFTA Free Trade Agreement (Course)

Canada-EFTA States Free Trade Agreement (Course)

EFTA-Lebanon Free Trade Agreement (Course Master)

EFTA-Serbia Free Trade Agreement (Course)

EFTA-Morocco Free Trade Agreement (Course)

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