This is a two-and-a-half-year programme providing 180 credits. The full workload in one year should correspond to 80 credits. Admission requirements are matriculation examination or equivalent education.

The law component of the programme consists of approximately 90–126 units (of 180 total), depending on the student's choices. This includes instruction in basic law topics, as well as the specific areas of the law which bear on the management of corporations, on management structures, and on the management environment broadly construed. If a student is considering studying towards an ML degree after finishing their BS, at least 120 of the 180 units must be in the area of legal studies. The business studies component of the programme consists of a minimum of 42 units and deals with the basic themes of business economics, management, and finance. In the first part of the programme, basic courses are also taught in the areas of mathematics, information technology, and research methods. Students in business law who do not plan on taking the ML programme can choose up to 12 units from other departments at the University.

The programme is structured around traditional lectures, but after each lecture students attend a small group meeting (generally 8–12 students), where there is a chance for personal contact with the teacher and work on assignments in a smaller group.

In instruction and training, special emphasis is put on practical tasks, which are intended to train students in communication and working in groups. The programme is almost entirely computer-based and students are specially trained in making use of information technology to gather knowledge. The pedagogy which is described here, and employed in teaching in business law, is characteristic of Bifröst University and in the school's mission statement one finds the following set forth:

* A strong pedagogical distinctiveness, manifested in active group work, which trains students' communication skills, as well as the harnessing of individual student initiative and the encouragement of creative and critical thinking.
* Training students to present their ideas and work, to communicate their experience and knowledge, and to engage in reasoned discussion.
* Links to the business world, so that students work on practical projects in cooperation with companies and institutions.