List of courses taught in English – Fall 2015 and Spring 2016.
The courses are only open for Master students.
Fall 2015
Courses
European Convention on Human Rights
International and European Energy Law – Icelandic
Energy Law
International and Domestic Funding Agreements
Lecturers
Davíð Þór Björgvinsson
The International Law of the Sea
Bjarni Már Magnússon
International Standards of Investment Protection
Legal English
Fanney Rós Þorsteinsdóttir
Guðmundur Ingvi Sigurðsson
Finnur Magnússon
Erlendína Kristjánsson
Willem C. Vis Int. Commercial Arbitration Moot I*
Garðar Víðir Gunnarsson
* This course is only available to those able to take both part I and II. Students must be present
and enrolled in both the fall and spring semesters. Students have to apply especially for this
course, further information on page 7.
Spring 2016
Courses
EU Constitutional Law
Lecturers
Gunnar Þór Pétursson
European Law: Financial Services
Hallgrímur Ásgeirsson
International Oil and Gas Law
Eduardo Pereira
Trademark Law
Ásdís Magnúsdóttir
Willem C. Vis Int. Commercial Arbitration Moot II*
Garðar Víðir Gunnarsson
* This course is only available to those able to take both part I and II. Students must be present
and enrolled in both the fall and spring semesters. Students have to apply especially for this
course, further information on page 7.
Fall 2015
L-714 European Convention on Human Rights
7.5 ECTS
Semester: Fall 2015
Level of course: Master level, advanced
Type of course: Elective
Schedule: 30-38 lectures pr. semester
Lecturer: Davíð Þór Björgvinsson
Content: The course will provide an in-depth analysis of the law of the European Convention on
Human Rights. The first part of the course is dedicated to introducing the Council of Europe, The
European Convention on Human Rights and its supervisory system. The European Court of
Human Rights will be placed in focus with emphasis on its methods of interpretation and its
procedure. Its current workload and future prospects will also be dealt with. Finally the
connection between the Convention and European Law as well as the domestic law of member
states will be covered. The second part of the course is dedicated to the principal substantive
rights protected by the Convention and its Protocols, such as the right to life, the prohibition of
torture, the right to a fair trial, the right to respect for private and family life, the freedom of
thought, conscience and religion, the freedom of expression, the freedom of assembly and
association, the prohibition of discrimination, the protection of property and the right to
education.
Learning outcomes - Objectives: Knowledge of international human rights protection has
become an important competency in many respects. It is relevant to attorneys, judges, civil
servants and in business. Knowledge of the European Convention on Human Rights and the case
law of the European Court of Human Rights is particularly relevant because if its direct and
profound influence on various areas of domestic law in the Contracting States. The learning
objectives of the course are the following: -Knowledge of the principal substantive rights
protected by the Convention, the working methods of the Court and the effect of the Convention
on the domestic law of the Member states, -understanding of the nature and function of the
Convention’s protection and -development of analytical skills and training in the application of
Convention rights to practical problems.
Course assessment: Projects 50% and final exam 50%
Reading material: TBA
Teaching and learning activities: Lectures and assignments
Language of instruction: English
L-712 International and European Energy Law – Icelandic Energy Law
Semester: Fall 2015
Level of course: Master level, advanced
Type of course: Elective
Schedule: 36 lectures or discussions, periodical organisation
Lecturer: Fanney Rós Þorsteinsdóttir
7.5 ECTS
Content: The course provides an overview of the organizational and regulatory framework
concerning the energy sector, acknowledging the importance of energy on a global scale. The
course is divided into two parts. The first and main part (6 ECTS) covers the principal legal and
policy issues relating to international and European energy affairs. The second part (1.5 ECTS) is
concerned with the legal framework of the Icelandic energy market. The students can choose to
complete either 6 ECTS or 7.5 ECTS. The first part of the course deals with international energy
relations and discusses the global quest for energy resources and the role of the major actors on
the energy market. In this part the main policy and legal issues and principles governing the
energy supply chain, i.e. generation, transmission and consumption, in the EU will be covered. A
special focus will be on renewable energy matters and legal issues related to emission trading. In
this part energy-specific regulation, the role of courts and international institutions in general will
also be discussed. The second part of the course covers the legal framework of the Icelandic
energy market. It focuses on Iceland’s obligations under the EEA-agreement in the field of
energy and legal issues related to implementation of the relevant EU directives into national law.
Learning outcome - Objectives: At the completion of the course the student should have:
Acquired basic knowledge of the legal and institutional framework in the field of energy law in
the international and European context and be able to identify and explain the main principles
and legal issues related to generation, transmission and consumption of energy. Students should
also have acquired basic knowledge of the legal framework governing the Icelandic energy
market, its main characteristics and identify possible legal relations and problems.
Course assessment: First part: Assignment 40%, presentations 20% and exam 40%. Second
part: Assignment 70%, presentations 20% and participation in class 10%.
Reading material: Selection of book chapters and articles
Teaching and learning activities: Lectures and discussions
Language of instruction: English
International and Local Funding Agreements
7.5 ECTS
Semester: Fall 2015
Level of course: Master level
Type of course: Elective
Schedule: 30-38 lectures pr. semester
Lecturer: Guðmundur Ingvi Sigurðsson
Content: The class deals with different kinds of funding agreements in both international and
local context. The main focus will be on the LMA agreement that banks use when financing
large and medium-sized companies, including its obligations, terms, default permissions and
collateral documents. Students will examine the drafting process for bills of exchange and
bonds, both documented and undocumented, with a special emphasis on covered bonds and other
safeguarded bond issues.
Learning outcome – Objectives: The objective of the course is to give students an overview of
different methods companies use to finance their operations and make students familiar with
different terms used in credit agreements. The course will concentrate on the legal agreements
used for such financing and different kind of programmes (for example bond issuances of bank).
At the end of the course students will be able to work with different kind of credit agreements
and deal with the legal issues that arise in practice from the negotiations and execution of such
agreements.
Course assessment: 50% oral or written exam, 40% assignments and 10% class participation
Reading material: TBA
Teaching and learning activities: Lectures, projects and discussions
Language of instruction: English
L-752 The International Law of the Sea
7.5 ECTS
Semester: Fall 2015
Level of course: Master level, advanced
Type of course: Elective
Schedule: 36 lectures/discussions pr. semester
Lecturer: Bjarni Már Magnússon
Content: This course introduces the major themes and issues of the modern international law of
the sea. The aim of the course is to familiarise students with the contemporary challenges in the
regulation of the oceans. The course is taught in English. The focus of the course is on the legal
framework contained in the 1982 United Nations Convention on the Law of the Sea and
associated instruments. Students will consider the fundamental principles of the law of the sea
set out in the Convention. In particular, they will analyse the maritime zones created under the
Convention which include the territorial sea, the exclusive economic zone, the continental shelf,
the high seas and the International Seabed Area. They will also study the way in which the law
of the sea is developed by a variety of international institutions and how states have tackled new
issues that have arisen since the conclusion of the 1982 Convention, e.g. increment of piracy and
the increased attention towards the Polar Regions. Finally, they will consider the role that
judicial dispute settlement plays in the law of the sea regime. A special focus will be on issues
relevant for Iceland. Students will work directly with primary materials, including the relevant
international treaties and decisions of international courts and tribunals. By the end of this
course, students should be equipped with the ability to analyse and present coherent and
persuasive arguments in relation to the areas studied.
Learning outcome - Objectives:
On completion of the course, a student:
• can find and interpret the main sources of the international law of the sea.
• can explain how different ocean areas are defined and delimited;
• can describe and explain the rights and obligations of coastal states and other states in the
various ocean areas.
• can apply the international law of the sea when working on projects regarding the ocean.
Course assessment: Paper (40%). Two 15% multiple choice exams (30%). Group assignment
which is presented in class (30%).
Reading material: To be announced.
Teaching method: Lectures, seminars and assignments.
Language of instruction: English
L-755 International Standards of Investment Protection
7.5 ECTS
Semester: Fall 2015
Level of course: Master level, advanced
Type of course: Elective
Schedule: 30-38 lectures/discussions pr. semester
Lecturer: Finnur Magnússon
Content: The course will focus on international investment law as a growing field of public
international law. It will address how foreign direct investment is regulated under customary
international law and subjected to various investment standards as prescribed in approximately
3,000 bilateral investment treaties (BITs) currently in force.
The course’s objectives are to present an overview of the current rules dealing with investment
and engage students in a discussion about their nature and foundation. Major themes of
international investment law will be analyzed and discussed, such as:
 The concept of “investor” and “investment”
 Expropriation
 Fair and equitable treatment
 Full protection and security
 National treatment and MFN treatment
Furthermore, the course will deal with investment disputes between investors and host states and
investment arbitration that addresses disputes stemming from various agreements made between
investors and states receiving foreign direct investment (such as concession agreements
involving hotel projects, electoral voting projects, mobile network development, aluminum
smelter projects, etc.). Active student participation will be expected. The students will be
required to present and discuss various investment cases dealing with investment disputes and in
doing so read, analyze and present either judgments of the International Court of Justice or
arbitral awards of various arbitral tribunals. Finally, the students will read relevant reading
material to be used when discussing topical issues in international investment law.
Learning outcome - Objectives: Following their participation in the course students should
have acquired knowledge of the fundamental standards of international investment law. Students
will be able to apply the sources of international investment law, such as BITs, customary
international law, general principles of international law and various arbitral cases when
addressing topical issues of this field of law. Finally, students will have acquired skills to analyze
various issues that are currently topical within the field of international investment law and
present their views and conclusions in a clear manner.
Course assessment: Course attendance and participation (case presentations and discussions)
20%, written exam/paper 40%, oral (final exam) 40%.
Reading material: To be announced.
Teaching method: Lectures and discussions.
Language of instruction: English
L-601 Legal English
7.5 ECTS
Semester: Fall 2015
Level of course: Master level, advanced
Type of course: Elective
Schedule: 30-38 lectures per semester
Lecturer: Erlendína Kristjánsson
Content: Legal English is a practical course aimed at developing students’ skills in using
English as a professional language. Students mainly build on their speaking and writing skills in
a legal context and work towards increasing their legal vocabulary substantively. Students
improve their pronunciation and learn how to apply effective communication strategies for
purposes of public speaking activities, such as, professional speeches, presentations, and court
cases. The course also provides students with clear guidelines on how the write basic legal texts,
such as, professional e-mails, bad-news communication, legal briefs, legal memos, and
international sales contracts. The course covers the main writing conventions for purposes of
legal drafting and communication with clients as set out by the European Commission and other
anti-legalese associations. Students work on texts and complete practical exercises relating to the
following themes: court case formats, legal drafting, systems of government – constitutional law,
human rights, contracts, company law, and company finance. The course prepares students for
the International Legal English by Cambridge University (ILEC exam) and participation in
international moots, such as the annual Willem C. Vis International Commercial Arbitration
Moot. The course also provides students with the foundations needed to work in international
organisations or law firms. The level of the course is equivalent to C1 of the Common
Framework of Reference for Language Learning.
Learning outcomes - Objectives:
In terms of knowledge, students will be able to:
 Define the main words and phrases of international contracts
 Define at least 150 new legal terms and phrases
 Describe the main characteristics of legalese
 Explain the main writing formats and structures of legal correspondence.
 Understand the mechanics of legal writing (capital letters, numbers,
 punctuation)
 List the main theories relating to legal argumentation and logic
 Explain the characteristics of professional speeches and presentations
In terms of skills, students will be able to:
 Write well-structured legal messages
 Devise a bad-news letter
 Learn vocabulary more effectively
 Give a professional speech and presentation
 Present legal arguments in a court setting
In terms of competences, students will be able to:
 Write with grammatical correctness
 Write with effective punctuation marks, correct use of capital letters and
numbers
 Express themselves in a well-organised manner
 Communicate with use of the appropriate legal vocabulary
Course assessment: Continuous evaluation with emphasis on small, practical speaking tasks for
skills development purposes. No final exam. Speaking (35%): Informative Speech -5% /
Persuasive Speech -5% / Class Presentation -10% / Moot -15%. Writing (30%): Bad-news letter
-5% / Legal Brief –10% / Test on Legal Writing -15%. Vocabulary Tests (35%): Test 1 -15% /
Test 2 -20%.
Reading material: To be announced.
Teaching and learning activities: Short lectures, practical language assignments and
discussions.
Language of instruction: English
Willem C. Vis Int. Commercial Arbitration Moot I
7.5 ECTS
Semester: Fall 2015
Level of course: Master level
Type of course: Elective
Schedule: See course content. Attention: Please note that students have to apply especially to
take part in this course. Further information is available on the courses’ home site in
MySchool. This course is only available to those able to take both part I and II. Students
must be present and enrolled in both the fall and spring semesters.
Lecturer: Garðar Víðir Gunnarsson
Content: Goal of the Willem C. Vis Moot: The goal of the Willem C. Vis Moot is to foster the
study of international commercial law and arbitration for resolution of international business
disputes through its application to a concrete problem of a client and to train law leaders of
tomorrow in methods of alternative dispute resolution. Structure of the Moot: The business
community‘s marked preference for resolving international commercial disputes by arbitration is
the reason this method of dispute resolution was selected as the clinical tool to train law students
through two crucial phases: the writing of memorandums for claimant and respondent and the
hearing of oral argument based upon the memorandums -- both settled by arbitral experts in the
issues considered. The forensic and written exercises require determining questions of contract -flowing from a transaction relating to the sale or purchase of goods under the United Nations
Convention on Contracts for the International Sale of Goods and other uniform international
commercial law -- in the context of an arbitration of a dispute under specified Arbitration Rules.
In the pairings of teams for each general round of the forensic and written exercises, every effort
is made to have civil law schools argue against common law schools -- so each may learn from
approaches taken by persons trained in another legal culture. Similarly, the teams of arbitrators
judging each round are from both common law and civil law backgrounds. Sponsors of the
Moot: The Vis Arbitral Moot is sponsored by the American Arbitration Association, the
International Arbitral Centre of the Austrian Federal Economic Chamber, the Chartered Institute
of Arbitrators, Chicago International Dispute Resolution Association, Court of International
Commercial Arbitration, Romania, German Institution of Arbitration (DIS), the International
Chamber of Commerce, the London Court of International Arbitration, the Moot Alumni
Association, the Singapore International Arbitration Centre, Swiss Arbitration Association
(ASA) and the Swiss Chambers‘ Arbitration.
The course is split up into two parts (I) & (II). Course work begins at the beginning of September
and ends with the students’ participation in the International Arbitration Moot that is held in
Vienna, Austria, the week before Easter. In the first half of the course (I) the students’ are
required to write a Memorandum for Claimant based on a fictional description of events that is
normally announced in the first week of October. All work in the course is conducted in English.
The Memorandum has to be submitted by the beginning of December. There will be lectures
held for the students on the rules and regulations governing the subject. In the latter half (II) of
the course which will be during the spring semester the students’ will write and submit a
Respondent’s memorandum as an answer to the previous Memorandum for Claimant. The
Respondent’s memorandum is due in the middle of January. Once that has been submitted the
preparations for the Moot competition begin. Further information on the competition is available
here: http://www.cisg.law.pace.edu.vis
Learning outcome – Objectives: The course objective is the preparation and successful
participation of Reykjavik University in the Willem C. Vis International Commercial Arbitration
Moot, held annually in Vienna the week before Easter. After having completed the course and
participated in the Willem C. Vis competition students should understand the procedure for
international arbitration proceedings, understand and be able to express substantive commercial
law arguments based on the CISG and be able to express legal arguments in English both in
written form and orally.
Course assessment: The course assessment is based upon the students’ performance and
outcome of the both the written submissions and the oral arguments. This is a pass/fail course.
No formal grades are given.
Reading material:
 The United Nations Convention on Contracts for the International Sale of Goods (CISG)
 The Convention on Recognition and Enforcement of Foreign Arbitral Awards
 The UNCITRAL Model Law on International Commercial Arbitration
 The Rules of the Willem C. Vis International Commercial Arbitration Moot
Books:





Peter Huber & Alastair Mullis, The CISG, A new textbook for students and practitioners,
2007.
Joseph Lookofsky, Understanding the CISG, a compact guide to the 1980 United Nations
Convention on Contracts for the International Sale of Goods (Third Worldwide Edition),
2008.
Nigel Blackaby, Constantine Partasides, Alan Redfern & Martin Hunter, Redfern &
Hunter on International Arbitration , 2009.
Margaret L. Moses, The Principles and Practice of International Arbitration, 2008.
Julian Lew, Loukas Mistelis & Stefan Kröll, Comparative International Commercial
Arbitration, 2003.

Bryan A. Garner, The Winning Brief – 100 Tips for Persuasive Briefing in Trial and
Appellate Courts, 2004.
 Christopher Kee, The Art of Argument – A Guide to Mooting, 2006.
Teaching and learning activities: See course description.
Language of instruction: English
Spring 2016
L-746 EU Constitutional Law
7.5 ECTS
Semester: Spring 2016
Level of course: Master level, advanced
Type of course: Elective
Schedule: 30-38 lectures/discussions pr. semester
Lecturer: Gunnar Þór Pétursson
Content: The course will focus on the emergence of an EU constitutional legal order,
particularly developed by the European Court of Justice through its case law. The principles of
supremacy, direct effect and state liability will be analysed thoroughly, with the aim of shedding
a light on the delicate relationship between the national legal orders and that of the EU. For that
purpose the initial ground breaking cases and circumstances will be thoroughly dealt with, and
analysed in the light of the recent cases and Treaty amendments. Additionally the course will
analyse the emergence of fundamental human rights, as general principles of EU law, and the
impact of the European Charter of Fundamental Rights on the EU constitutional legal order.
Lastly, the course will deal with the issue of legal remedies for individuals under EU law. The
Course is based on active student participation during seminars. The students will be required to
present and discuss the most important cases, and become familiar with reading, analysing and
presenting judgments. In addition, the students will be invited to read relevant and topical
doctrinal materials in order to stimulate the discussions.
Learning outcome – Objectives: To pass the examination the students will have to be able to
show a basic understanding in the interaction between the national legal orders and the EU legal
orders by using the relevant legal sources of EU law, particulary primary law (Treaties), and
relevant case law of the Court of Justice, including general principles of law. The students
should be able to critically analyse the jurisprudence of the Court of Justice with support of
doctrinal material, and able to communicate the conclusions in a clear manner.
Course assessment: Course attendance and participation (case presentations and discussions)
20%, case study 30%, written paper 50%.
Reading material: To be announced
Teaching method: Lectures and discussions.
Language of instruction: English
L-746 European Law: Financial Services
7.5 ECTS
Semester: Spring 2016
Level of course: Master level, advanced
Type of course: Elective
Schedule: 36 lectures/discussions
Lecturer: Hallgrímur Ásgeirsson
Content: Financial services include banking, insurance and investment services. These services
play a fundamental role in the functioning of every society and economy. The provision of
financial services is dependent upon a regulatory framework that promotes financial stability and
confidence in the financial system, its institutions and operators. These objectives must,
however, be balanced against the fact that financial services are provided in an environment
subject to high degree of international competition and technological development. With this in
mind, the conditions for the provision of banking, insurance and investment services in the EU
Member States have been made subject to extensive harmonisation in European law. Knowledge
of European law on financial services is therefore a key to understanding the national regulation
in this field in the different EU Member States.
The following topics will be covered:
• Introduction to financial services
• Primary legislation
• Accounting
• Banking
• Insurance
• Investment services
• Investment funds (UCITS)
• Pension funds
Learning outcome - objectives: On successful completion of the course the student will have
gained knowledge of European law on financial services and its relevance for national law. The
student will have acquired skills to apply this knowledge to legal issues that may arise in relation
to the provision of financial services in the EU.
Reading material: To be announced
Teaching and learning methods: Lectures, discussions and practical projects.
Course assessment: Course attendance and participation 20%, written group project 30%, oral
(final) exam 50%.
Language of instruction: English
L-776 International Oil and Gas Law
7.5 ECTS
Semester: Spring 2016
Level of course: Master level, advanced
Type of course: Elective
Schedule: 36 lectures/discussions pr. semester. Intensive course.
Lecturer: Eduardo G. Pereira
Content: The course provides an overview of the most challenging stages of the petroleum
industry: the exploration and exploitation stages of oil and gas know as Upstream. These two
stages involve the higher risks and rewards in the entire chain of petroleum activities. Thus it is
critical to understand in details the regulatory and contractual frameworks, which govern those
relevant stages. The course is divided into two parts. The first part (3 ECTS) covers the host
government agreements and regulatory framework. The second part (3 ECTS) is concerned with
consortium agreements. In addition, each part of the course is followed by a seminar with the
participation of relevant industry players, regulator, lawyers, etc. The best assignment among the
class will be presented at that respective seminar.
The first part of the course will explain the different models applied by States (or individuals
whenever applicable) when granting rights to explore and exploit oil and gas, possible transfer or
sharing of those rights and the main obligations involved for those who have the right to explore
and produce oil and gas. The second part of the course covers the most relevant consortium
contracts created to conduct exploration and exploitation activities. The creation of consortium is
a typical approach by oil and gas companies in order to reduce and minimize the amount high
risks and costs involved in any upstream activity.
Learning outcome - objectives: At the completion of the course the student should have:
Acquired basic knowledge of the legal and contractual framework in the field of upstream oil
and gas law and be able to identify and explain the main principles and legal issues related to
host government agreements, consortium contracts, regulatory framework, and relevant players,
among others.
Course assessment: Assignments 40%, oral presentations of assignments and participation in
class 20% and final exam 40%.
Reading material: Selected book chapters, articles and papers.
Teaching and learning methods: Lectures, case studies and exercises. Active participation of
students in class is required.
Language of instruction: English
L-833 Trademark Law
7.5 ECTS
Semester: Spring 2016
Level of course: Master level, advanced
Type of course: Elective
Lecturer: Ásdís Magnúsdóttir
Content: Trademark protection has seldom, if ever, been more important to companies than
now. With growing changes in business there have awoken new questions concerning
trademarks and the laws and regulations governing them that haven’t yet been fully answered.
This course will explore trademark rights in an international context. The procedures and rules in
the EU will be studied along with the procedures in the United States. Trademark rights in the
US are quite different from those in the EU and whether that might affect the development the
trademark subject will be considered in the course. Among the subjects covered will be “new
problems” in the field that are not “traditional” trademark issues, such as trademarks and internet
domains, the use of trademarks online (e.g. in relation to the connection of trademarks with
advertising sales in search engines). Court rulings from both the EU and the US will be used
extensively in the course.
Learning outcome – objectives: The aim of this course is to give an overview and
understanding of international trademark law. Those who complete the course will be equipped
to deal with trademark rights from a European viewpoint as well as an American viewpoint. A
special emphasis will be placed upon the students being able to assess different issues in the field
and a desirable prospective development for it based on the objectives and purpose that
trademark law should serve. Trademark use and protection is by nature an international subject
and it is important that students are able to recognize these rights as a part of the big international
picture.
Course assessment: Essay 40%, participation 10% and final oral exam 50%
Reading material: Various chapters, articles and rulings.
Teaching and learning activities: Lectures, discussions and projects.
Language of instruction: English
Willem C. Vis Int. Commercial Arbitration Moot II
4.5 ECTS
Semester: Spring 2016
Content: Please see the course description from Fall semester 2015. Attention: Please note that
students have to apply especially to take part in this course. Further information is
available on the courses’ home site in MySchool. This course is only available to those able
to take both part I and II. Students must be present and enrolled in both the fall and spring
semesters.