The Markets and Regulation Certificate educates students in the structures and characteristics of regulated markets by analyzing the outcomes of markets for consumers and producers, evaluating how government policies alter post-regulation market outcomes, and considering costs and benefits of economic regulation.

Students who complete this certificate will be able to:

  • Analyze market structure and firm behavior, identify resulting problems with markets, and evaluate the consequences of a variety of economic policies
  • Evaluate regulatory policy as an economic phenomenon, modeling the goals of consumers, regulators, and firms, with an emphasis on institutional frameworks and career incentives of regulators and politicians who engage in regulatory processes
  • Engage in economic policy work with background in the strengths and weaknesses of different policy alternatives, evaluated both analytically and through case studies

The certificate’s broad choices of electives encompass multiple fields and schools at the University, illustrating the many applications of regulation across public policy, law, and business. The electives cover regulation in a variety of contexts, including financial regulation, antitrust policy, intellectual property, environmental regulation, regulation and capitalism, and industrial organization.

STEM Eligible

The Markets & Regulation Certificate is STEM eligible for international students.

Application Process

The certificate is open to Harris Public Policy graduate students only. Please indicate your intent to pursue this certificate using the Harris Certificate Application Form.

For certificate registration questions, please reach out to harrisregistration@uchicago.edu.

Planning for the Certificate

For information on which quarter(s) each course will be offered see the Harris Courses page and filter by certificate. For courses offered by other divisions the typical quarter(s) offered has been indicated.

Certificate Requirements

The certificate requires completion of one required course, along with two elective courses. Students must achieve at least a B- grade in each course with the exception of the last term prior to graduation, and there is no pass/fail option. Students should complete the formal signup process to indicate their intention to pursue the certificate.

Required courses

Elective courses

Students must complete two elective courses to fulfill the requirement.

Strongly Recommended Elective Courses:

Other Electives:

CORE MARKET REGULATION COURSES offered at Harris

PPHA 36941, Strategic Behavior and Regulation of Firms 

Industrial organization: the study of firm behavior and public policy in imperfectly competitive markets. We will examine the strategies that firms use to increase profits, the effects of those strategies on consumers, and the cases for and against regulatory intervention in markets.

PPHA 46350, Economics of Regulation

Based on analysis of characteristic inefficiencies of various market structures. Evaluates options for welfare-improving public policy; considers strengths and weaknesses of different policy alternatives. Case studies will be used to illustrate regulatory schema and will be used to characterize effects policy initiatives have on markets, firms, and policymakers.

Recommended Co-Curricular Activity

  • Students are recommended to attend two events in the “Harris Speakers on Economic Policy and Markets” or “History of Chicago Economics” speaker series during their second year.

Certificate Contact

Kathryn Ierulli, Certificate Director

Kathryn Ierulli

Faculty Spotlight

Kathryn Ierulli
Senior Lecturer

Kathryn Ierulli has a BA, MA, and PhD in Economics from the University of Chicago, with field exams in Labor Economics and Industrial Organization. She has taught at Harris School of Public Policy, the University of Chicago Department of Economics, and the University of Illinois at Chicago, and been...