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.

Law courses explore such ubiquitous topics as commercial law, regulatory theory and intellectual property, to name a few. Many of these specializations entail coursework that discusses regulatory problems and trends involved in their specific industry.