Business Law. Curriculum for BS degree programme in Business Law

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1 Business Law Curriculum for BS degree programme in Business Law

2 Name of curriculum: BS in Business Law Contact: Head of Department of Law Length of degree programme: Seven semesters Number of credits: 190 ECTS, Cycle 1.2 under Iceland s National Qualification Framework for Higher Education and Degrees from 2011 Second edition, May

3 Table of Contents Undergraduate Studies in Business Law... 4 Programme composition... 7 Course descriptions... 8 Fall, year Information Technology... 8 Confident Communication... 9 Introduction to Icelandic Procedural Law Research Methods Law and Legal Methods I Principles of Contracts Spring, year Fundamentals of Administrative Law Accounting I Law of Contractual Obligations I Law and Legal Methods II Labour Law Summer, year Term Project Servant Leadership and Management Workshop on Constitutional Law Fall, year Finance I Microeconomics Tax Law I Corporation Law Competition Law Spring, year Property Law Tax Law and Accounting Law of Torts Law and Legal Methods III: Statutory Interpretation and Legal Arguments Accounting II Summer, year Term Project Criminal Law Strategy and Business Plans Fall, year The Economy and Law Innovation and Law Operation, Analysis and Planning I European Law I Final Project BS Thesis Intended learning outcomes

4 Undergraduate Studies in Business Law The undergraduate study programme in Business Law aims to educate entrepreneurs, providing a good grounding in the fields of law and business. Similar study programmes have been established in other Nordic countries, since this interdisciplinary combination of business and law is not only a popular course of study but is also in step with the development of transnational industries, requiring an ever-better understanding of legislation and the legal environment. Studies at Bifröst are tailored to the needs of a new generation of experts, who will play a key role in Icelandic society in the imminent future. Applicants must have completed a matriculation examination (stúdentspróf) to be admitted to the programme. Students who have completed Bifröst University s University Gateway (Háskólagátt) are considered to meet this requirement. An exemption may be made from the matriculation examination requirement if an applicant possesses experience and/or knowledge that can be assessed as equivalent to completion of a matriculation examination. Completion of the study programme leads to a BS degree in Business Law (190 credits), which fulfils the requirements for a Bachelor s degree, Cycle 1.2 under Iceland s National Qualification Framework for Higher Education and Degrees from 2011, issued by the Ministry of Education, Science and Culture. The law component of the study programme comprises 130 credits. Instruction is provided in general fields of law, including legal methodology, law of contractual obligations, administrative law, constitutional law and tort law, in addition to those legal fields that have a bearing on the establishment and management of businesses in a broader context. The business component of the study programme comprises 60 credits and covers basic elements of methodology, microeconomics, business operations and finance. Students who complete a BS degree in Business Law with a first-class grade can apply to continue their studies at the ML level. The ML study programme comprises 120 credits. Students who have completed a total of 240 credits in legal subjects at the BS and ML level are deemed to have completed a qualifying law degree. They thereby meet the general education requirements to serve as judges and practice as attorneys and obtain the relevant certification by passing a bar examination held by the Icelandic Bar Association (Lögmannafélag Íslands). One ECTS credit is considered to correspond to hours of student work. Student work consists of class attendance, preparation, assignment and project work and participation in assessment of studies. Teaching, assessment of studies and organisation of teaching are as per EF 110, the Rules on Studies and Teaching, which can be found in Bifröst University s Quality Manual. The Quality Manual also contains rules for examinations and various instructions for students. The Quality Manual can be viewed online in Icelandic at and in English at In addition to providing access to the ML study programme at Bifröst University, the study programme provides access to studies in general at the Master s level or at Cycles 2.1 and 2.2 under Iceland s National Qualification Framework for Higher Education and Degrees no. 530/2011. Access is contingent on the regulations of individual schools governing minimum credit requirements in each subject, minimum grade requirements and other factors. With a view to contributing towards society s progress in the direction of a better and richer environment, humane society and responsible participation, the University has signed up as a participant in the Principles of Responsible Management Education (PRME) initiative, headed by the United Nations. Concurrent to this, the University aims to promote awareness of sustainability both in connection with study and research at the University and campus life in the University Village. 4

5 Programme structure and teaching methods Students receive basic training in all core areas of law and those branches of business studies relating to operations and finance. The study programme is organised with the objective of allowing students to decide whether they prefer to enter the field of corporate law or pursue the studies required to be eligible for bar admission. Applied focuses are stressed in the programme in teaching and assessment of studies. Students complete many assignments in each course, and instructor guidance consists not least in feedback and continuous assessment. Teachers thus attentively monitor the progress of each individual student. A large part of assignment work consists of group work, and teachers endeavour to provide students with substantial, concrete assignments and thereby put to the test aspects that will be of genuine importance in their later careers. In this way, Bifröst University will thoroughly prepare its students for careers in the working world whereby they acquire autonomous and careful working methods as well as the ability to work under great pressure. In addition to projects completed as part of individual courses, students have the opportunity to complete independent group projects in the field of corporate law during the course of their studies, so-called term projects. They are often completed in close cooperation with businesses and institutions and thus provide real-life insight into lawyers undertakings. Fully completed projects are presented and submitted for evaluation by teachers and student peers. Students complete two such projects over the course of their studies, which are, in addition to instruction in project management, worth eight ECTS credits each. The duration of the undergraduate study programme in Business Law is seven semesters, including two summer semesters. In spring and fall semesters, teaching in most subjects is organised into sixweek sessions, but heavier and more demanding subjects are taught over fourteen weeks. During the summer, students also complete term projects and present them for defence. Full-time students complete 30 ECTS credits in fall and spring semesters and 20 credits in summer semesters. Electives and internships The programme is organised so as to allow students to complete at least one elective as part of their BS studies. In addition, the University offers internships in collaboration with organisations and institutions. Internships are in all cases unpaid, but students receive 6 ETCS credits for completing four weeks of full-time work (160 hours). Students apply for internships with the internships coordinator. International studies cooperation with universities abroad In recent years, Bifröst University has built up an extensive global network of contacts, and these international connections enhance the quality of individual study programmes considerably. Bifröst is a participant in LawWithoutWalls, an international collaborative effort between law departments, with the participation of several of the world s most respected universities. Its goal is to respond to the shifting position of lawyers in the international legal market and revolutionise legal education methods. This collaboratory aims to provide students of law with a broader perspective on the discipline and enable them to apply their education increasingly towards innovation. Undergraduate students at Bifröst University have the option of spending one to two exchange semesters at one of Bifröst s partner schools, and the study programme is structured so as to allow students to complete the same number of credits at the partner school as they would otherwise have completed at Bifröst over this same period. Bifröst University receives foreign exchange students from its partner universities as well, and collaboration and interaction with exchange students is an important part of the international experience that Bifröst offers its students. The University s academic staff also collaborates extensively with universities abroad in the areas of teaching and research. The University is a member of the Erasmus programme and likewise has bilateral agreements with numerous universities outside Europe. Bifröst participates in the University of the Arctic (UArctic), a consortium of over 100 universities in Canada, the United States, Russia and the Nordic countries. 5

6 Business Law students may apply for an exemption from the BS thesis if they choose to spend their final semester on exchange. A requirement for such an exemption is that study exchange courses chosen by the student are in the field of law, and the exemption is subject to department head approval. Students must also fulfil requirements concerning study progress and academic performance, as per the decision of the Academic Council at any given time. 6

7 Programme composition Organisation of courses 7

8 Course descriptions Fall, year 1 Information Technology Semester: Fall, year 1 4 ECTS, PPE and Business Administration Prerequisites: General undergraduate-level entrance requirements Instructor: Jón Freyr Jóhannsson, adjunct lecturer Teaching methods: Lectures, project sessions and project work The purpose of this course is to increase students proficiency in the use of information technology in their work and studies. The main focus will be on using Microsoft Excel to solve applied problems in the area of mathematics, finances and operations, as well as in general data processing. In addition to material specified in the course plan, various concepts and subjects in the field of information technology will be presented. Knowledge and understanding: After the course, students will: Be familiar with and able to explain some of the main concepts and subjects in the field of information technology. Have knowledge of and be able to distinguish between common methods of solving problems involving use of spreadsheets. Be able to make systematic use of spreadsheet tools (Excel) in tackling diverse projects relating to their work and study. Be able to create models in Excel. Be able to use Word systematically in setting up essays and assignments, including preparing a bibliography using the techniques of Word. Be able to prepare PowerPoint presentations. Have adopted time-saving and practical methods. 8

9 Confident Communication Semester: Fall, year 1 2 ECTS Degree programme: PPE Business Administration Business Law Prerequisites: General undergraduate-level entrance requirements Instructor: Sigríður Arnardóttir, sessional lecturer Teaching methods: Lectures, projects The concept for this applied course is rooted in the so-called Bifröst spirit: for decades, students of Bifröst University have graduated to become business leaders and social advocates. Many of these distinguished graduates have stated that the training they received at Bifröst, including speaking experience and social activities, has proved exceptionally valuable for them. The purpose of this course is to cultivate the Bifröst spirit, which still thrives here among our students. We believe that no school in Iceland can boast as dynamic a social programme through the years as Bifröst University. The following will be covered in this course: 1. Expressing oneself with confidence 2. Making a good impression in public speaking 3. A confident presence at meetings and in the media what characterises the best? 4. Promoting products or services 5. Communication skills 6. A confident presence recording and assignments 7. What do I as a student want to do 8. Expression After the course, students will: be able to express themselves confidently be able to leverage media outlets, conferences and other events to promote themselves have gained communication skills be able to prepare their career 9

10 Introduction to Icelandic Procedural Law Semester and length: Spring, year 1 6 ECTS Prerequisites: General undergraduate-level entrance requirements Instructor: Maj Britt Hjördís Briem, solicitor, as well as guest lecturers Teaching methods: Lectures, project work and project sessions The course introduces the principles of Icelandic procedural law and trains students in the further use of sources of law, travaux préparatoires (preparatory works) and reports of judgments and decisions. Legislation on civil procedure is reviewed, and the rules applying to civil litigation, from service of the summons to pronouncement of judgment, are examined. Insight will be provided into general rules on execution of judgments (enforcement, forced sale, etc). The course will also deal with the structure of the judiciary system in Iceland, district judges, general qualification requirements for judges and specific qualification requirements for conducting individual cases. Basic concepts in criminal law will be introduced, along with the principles of criminal procedure and the main rules governing procedures for public prosecution, the legal status of the accused and the victim and court procedure. Emphasis is placed in the course on judgments and their analysis. After the course, students will: Know about the principles and basic concepts of procedural law (civil, criminal and enforcement procedure) and the basic concepts of criminal law. Can apply their knowledge in solving realistic problems. Have gained training in reports and analysis of judgments and decisions. Have gained basic training in legal thought and methodology and thereby improved their proficiency in use of sources of law and statutory interpretation. 10

11 Research Methods Semester: Fall, year 1 6 ECTS Degree programme: PPE Business Administration Business Law Prerequisites: General undergraduate-level entrance requirements Language: Lectures in Icelandic and course materials in Icelandic and English Instructors: Sigrún Lilja Einarsdóttir, assistant professor Teaching methods: Lectures, project sessions and project work The course is an introductory course in methodology, where basic methodological concepts, the structure of written work and procedures for preparing scientific dissertations and research reports will be presented. The course will deal with preparing and carrying out a research project, choosing and defining the subject, formulating a hypothesis, reliability, internal and external validity, causation and ethical problems in research. Students are familiarised with different research methods (both quantitative and qualitative) and receive training in the creation of questionnaires, the preparation of interviews and the main issues relating to case studies and the various types of field observations. Students will likewise gain training in appropriate working methods and procedures in preparing research plans, collecting data, managing and finding source material and presenting projects. On completion of the course, students will: Understand and be able to articulate the main basic concepts of methodology. Be able to explain the difference between quantitative and qualitative research methods and differentiate between different types of research design. Adopt professional working procedures in selecting and evaluating literature and have gained training in doing literature searches and using databases. Have received training in reading scientific literature and analysing sources. Be able to present their subject matter in a concise and effective manner. Be able to write short scientific papers. Be able to prepare a research plan, provide argumentation for their choice of research method and cite and record their sources in conformity with the APA system. 11

12 Law and Legal Methods I Semester and length: Fall, year 1 14 weeks, 6 ECTS Prerequisites: General undergraduate-level entrance requirements, with reference made to sources in Danish and English Instructor: Aagot Vigdís Óskarsdóttir, assistant professor Teaching methods: Lectures, discussions and project sessions The course deals with legal method or the methodology involved in finding and applying legal rules. The course introduces law as a discipline and deals with the legal system and various fundamental concepts. The main focus of the course relates to the sources of Icelandic law. The concept of sources of law and types of sources of law are discussed in depth. The course will also deal with holders of state authority and their different involvement in the making of the rules of law. After the course, students will: Have gained an understanding of law as a discipline and be familiar with and able to explain the legal system and various fundamental concepts Have a good knowledge of, comprehend and be able to report on and apply the sources of Icelandic law Recognise the part played by different bodies in law-making and the position of international agreements in Icelandic law Have gained some proficiency in finding and applying legal materials and methods in solving legal problems 12

13 Principles of Contracts Semester: Fall, year 1 6 ECTS Prerequisites: General undergraduate-level entrance requirements Instructor: Unnar Steinn Bjarndal, solicitor, adjunct lecturer Teaching methods: Lectures, audio lectures, project sessions and project work The first part of the course provides a general introduction to contracts under Act no. 7/1936 and other principles of contract law. The rules concerning contractual promises and obligations of the parties and the preparation of contracts are examined. Interpretation of contracts will likewise be explored. As part of this discussion, the course will review the rules on interpretation of standard contractual terms and the impact of various laws in the area of consumer protection on rules of interpretation, among other things. The rules of the Contracts Act no. 7/1936 concerning invalidation of contracts and the rules on changed circumstances will be reviewed. The latter part of the course deals first and foremost with purchase as defined by Act no. 50/2000 on the Sale of Goods. By way of comparison, the course will examine the main rules on purchase of real estate under Act no. 40/2002, consumer purchases under Act no. 48/2003 and purchase of services under Act no. 42/2000. The course will review the rules applying to failure to perform a contract of sale and buyers and sellers remedies for non-performance, with emphasis on remedies for non-performance due to defects. After the course, students will: Know the basic concepts and main rules of contract law and law of sale of goods Know about and be able to apply the rules of contract law to real-life and theoretical issues that may arise in connection with contracts, their preparation and ending of contracts Know about and be able to apply the rules of law of sale of goods to real-life and theoretical issues that may arise in connection with non-performance of contracts Can utilise the basics of contract law and law of sale of goods in completing academic projects Can apply the basics of contract law and law of sale of goods in critical discussions 13

14 Spring, year 1 Fundamentals of Administrative Law Semester and length: Spring semester, year 1 6 ECTS Prerequisites: Law and Legal Methods I Instructor: Ari Karlsson, solicitor Teaching methods: Lectures, project work and interactive discussions to the fullest extent possible The course covers the fundamentals of administrative law, the tasks of public authorities and the position of this legal field within public law, among other things with reference to constitutional law. The structure of the administrative system, sources of law and basic concepts of administrative law are reviewed. The course will touch on the origins, explanation, scope and interpretation of the Administrative Procedures Act no. 37/1993. In particular, the course explains participation in administrative proceedings and the concept of administrative decisions. A large part of the course is devoted to discussion of rules of procedure in the Administrative Procedures Act and the conduct of administrative proceedings with relation to these rules. Ethical rules in public administration, the limits of governmental power, the Information Act and handling of personal data are also discussed. After the course, students will: Possess knowledge of the structure of the administrative system and the conduct of administrative proceedings. Be able to explain basic concepts in the first part of administrative law. Know about the rules of administrative law pertaining to the handling of administrative proceedings and their interplay. Know about ethical rules in public administration and their significance. Have gained proficiency in applying the rules of administrative law in solving issues. Have received training in forming opinions on the professional premises of administrative law. Have received training in discussion and exchanging of views on legal matters. Have received training in supporting theoretical solutions with arguments in a systematic manner. Have gained an understanding of the significance of administration as a basic element in democratic society and the importance of ethics in public administration. Have acquired a professional understanding of differing outlooks within the discipline and can respect opposing viewpoints. 14

15 Accounting I Semester and length: Spring, year 1 6 ECTS Degree programme: Business Administration Business Law Prerequisites: General undergraduate-level entrance requirements Instructor: Einar S. Valdimarsson, sessional lecturer Teaching methods: Lectures, project sessions and project work An overview of financial accounting, with an emphasis on both theoretical and legal aspects. Students are introduced to key points of financial reporting and gain a clearer understanding of what classifies as income, expenses, assets or liabilities. The course strongly emphasises students ability to make an independent assessment of financial statements, read them and explain their contents a requirement for which is the development of a good understanding of accounting and financial reporting standards. Although students are not specially trained in book-keeping, they learn to read and understand financial statements and thus gain training in accounting literacy. The structuring of the financial statement is examined and how this structure forms a single whole (i.e., the balance sheet, income statement, cash flow, explanations and report of the board). After the course, students will: Understand and be able to explain the importance of financial statements on the stock market for investors and other concerned parties. Understand and be able to define key points of accounting theory. Understand and be able to explain the role of accounting theory in preparing financial statements. Be able to conduct an independent assessment of a financial statement. Be familiar with and able to explain the function and purpose of the International Financial Reporting Standards (IFRS). Know how financial statements are structured and be able to set up a simple financial statement. Have good accounting literacy. 15

16 Law of Contractual Obligations I Semester and length: Spring, year 1 6 ECTS Prerequisites: General undergraduate-level entrance requirements Instructor: Marta Margrét Ö. Rúnarsdóttir, solicitor, and Bjarni Aðalgeirsson, solicitor Teaching methods: Lectures, project work and project sessions The course will deal with the central concepts, sources of law and fundamental principles of the general part of law of obligations. The rules concerning the establishment and legal protection of claims will be discussed, as well as transfer of risk. Emphasis is placed on discussion of performance, such as time and place of payment, as well as on discussion of the main types of non-performance, i.e., arrears, defects and legal deficiencies. Novation will be examined, as will the gist of rules on negotiable instruments. Finally, the course will touch on the legal effects of non-performance, remedies for non-performance and discharge of claims. In reviewing the material presented in course, reference will be made to judgments and real-life matters of dispute to deepen students comprehension. Students must be prepared for lectures and project sessions and able to express themselves on material that is under discussion at a given time. In the course, students will work on various projects relating to the course material, including reports of judgments and solutions to concrete assignments. After the course, students will: Know the central concepts, sources of law and fundamental principles of the general part of law of obligations and law of negotiable instruments. Have knowledge of the main judgments and how the rules of law of obligations are applied. Can analyse, assess and apply the rules of the general part of law of obligations and law of negotiable instruments in solving concrete assignments. Can explain the main rules of the general part of the law of obligations, judgments and scholars theories within the field and the basics of law of negotiable instruments. 16

17 Law and Legal Methods II Semester and length: Spring, year 1 6 ECTS Prerequisites: Law and Legal Methods I, with reference also made to sources in Danish and English Instructor: NN Teaching methods: Lectures, discussions and project sessions The course deals with legal method and application of the rules of law. The main focus of the course pertains to the interpretation of positive law and the chief methods and viewpoints that ought to form a basis for statutory interpretation. The legal profession and lawyers field of work will also be discussed, as will certain principles relating to legal and business ethics. After the course, students will: Be able to apply the sources of Icelandic law and have a good knowledge of, understand and be able to use methods of interpreting statutory law. Have gained a better comprehension of law as a discipline and are aware of the tasks and work of lawyers. Have gained some proficiency in finding and applying legal materials and methods in solving legal matters of dispute. 17

18 Labour Law Semester and length: Spring, year 1 6 ECTS Prerequisites: Students shall preferably have completed the courses Law and Legal Methods I and II Instructor: Sonja Ýr Þorbergsdóttir, adjunct lecturer Teaching methods: Lectures, project work and discussions to the fullest extent possible The course reviews the organisation and institutions of the labour market. Topics of discussion include the activity of unions, freedom of association, labour contracts, labour disputes and the Labour Court. The course also deals with labour market rights and obligations, such as contracts of employment, employee and employer obligations, equality in the labour market, parental leave, rules of law concerning leave and pensions, illness rights and termination of contracts. The course will deal in particular with international and European labour law, as well as the special rules applying to civil servants. After the course, students will: Be able to explain the main concepts of labour law. Know the rules on labour market rights and obligations. Possess knowledge of the organisation, institutions and parties of the labour market and their rules. Have gained proficiency in applying the rules of labour law in solving issues. Have received training in forming opinions on the professional premises of labour law. Have received training in supporting theoretical solutions with arguments in a systematic manner. Have gained an understanding of the nature and purpose of rules applying to the labour market. Have acquired a professional understanding of differing outlooks within the discipline. 18

19 Summer, year 1 Term Project Semester and length: Summer, year 1 8 ECTS Prerequisites: Law and Legal Methods I and II or English Instructor: Various Teaching methods: Lectures and independent work Students work independently in groups on a subject matter of their own choice. Through this project work, they gain training in independence and receive experience in research that deepens and improves their methodological proficiency. Projects are adapted to the group s field of study. After the course, students will: Obtain general research training. Develop their abilities to set up and complete projects that address important topics within the field. Cultivate their cooperative and teamwork skills in completing a multifaceted project. Develop independent, critical thinking in relation to topics in the field. Learn to present analysis, criticism and appropriate solutions within a theoretical and applied framework. 19

20 Servant Leadership and Management Semester and length: Summer 6 ECTS Degree programme: Business Administration Business Law Prerequisites: None Instructors: Dr. Erla Sólveig Kristjánsdóttir and Sigurður Ragnarsson Teaching methods: Teaching methods are diverse and build on Bifröst University s tradition of project-based learning. Lectures and guidance from the instructor are provided directly to on-campus students or with audio and video through the University s learning management system. See a more detailed description in the course plan. Leadership is a multifaceted phenomenon, and this course will deal with leadership based on various elements. Central concepts and theories of leadership studies will be examined, together with new trends such as ethical and authentic leadership. Students have an opportunity to examine and develop their own knowledge and understanding of leadership roles. Other key issues will be covered, such as leadership in teams, different leadership styles, international leadership, effective communication, gender differences and so on. Special emphasis will be placed on servant leadership, and the main points of this theory and its relevance will be addressed. After the course, students will possess knowledge of effective leadership. This entails that students: Learn about key course topics, such as leadership in teams, leadership and ethics, authentic and servant leadership, international leadership, gender differences and so on. Learn about several key theories, such as theories relating to personal characteristics, behaviour and leadership styles, circumstances, charismatic leadership and so on. After the course, students will be able to leverage various methods and aspects that are part of effective leadership. This entails that students: Recognise the importance of ethical and servant leadership and how these types of leadership can help leaders and followers to succeed. Understand the difference between managers and leaders, and what this difference entails in the context of effective leadership. Gain a comprehension of how it is possible to provide leadership to a team. After the course, students will have the ability to use their knowledge and competence in a practical setting to ensure professional and effective leadership. This entails that students: Understand team leadership and how it works in praxis. Are capable of identifying professional leadership and criticising poor leadership. Are capable of explaining how key components of leadership may be used. Are capable of assessing and determining appropriate leadership in differing circumstances. 20

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