The Markets and Regulation Specialization 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 specialization 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 specialization’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.

Harris specializations function as areas of specialization within the degree. Specializations assume knowledge of the 6-course Harris Core and build upon that foundation with coursework in specific policy areas or technical skills.

Application Process

The specialization is open to Harris Public Policy graduate students only. Please indicate your intent to pursue this specialization using the Harris Specialization Declaration Form.

For specialization registration questions, please reach out to

Planning for the Specialization

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

Specialization Requirements

The specialization requires completion of one required course, along with two elective courses. Students must achieve at least a B- grade in each course. No specialization course may be taken on a pass/fail grading basis. Students should complete the formal signup process to indicate their intention to pursue the specialization.

Required courses

Elective courses

Students must complete two elective courses to fulfill the requirement.

Strongly Recommended Elective Course:

Other Electives:

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.

Specialization Contact

Kathryn Ierulli, Specialization Director

Kathryn Ierulli

Senior Lecturer

Kathryn Ierulli

Kathryn Ierulli has a BA, MA, and PhD in Economics from the University of Chicago, with field exams in Labor Economics and Industrial Organization.