Business studies is an academic area of study that provides the knowledge and skills needed for a career in the business realm. Studies may consist of finance, accounting, economics, organizational studies, business ethics, and marketing.

One characteristic of Iceland's higher education system is a four-year course. After completion of undergraduate degree, The University of Icleand often have scholarships for those students who may want to further studies to master’s and doctorate levels. It is based in Vesturbær, Reykjavik and was founded in 1911.

Advanced diplomas are programs that provide students with focused learning in their area of focus. Earning an advanced diploma may help students qualify for certain careers or prepare them for further study within their chosen field.