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Master in Economics of Competition, Regulation and Markets

Graduate School of Economics and Political Science

Imagen presentación del máster
Direction
Prof. Ángel Hernando Veciana (pending appointment)
Language
English
Attendance
On-campus
Credits
60
Campus
Getafe
Applications

 Opening December 1, 2025 

 Places available: 40

Departments
Economics Department

CONTACT

Click here and make your query

 

APPLICATION FOR ADMISSION

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  • Inicio

    Master in verification process for the academic year 2026-2027

    The Master in Economics of Competition, Regulation and Markets (CREMA) at Universidad Carlos III de Madrid offers advanced and rigorous training to understand how markets work, how they are regulated, and how effective competition policies are designed.

    Delivered entirely in English and completed in one year, the program combines economic theory, empirical analysis, and real-world case studies. Its goal is to help you develop strong analytical and quantitative skills, together with the critical thinking needed to address today’s economic challenges.

    The master opens the door to exciting careers as an economic consultant or expert in regulated markets, competition, and public policy. These highly sought-after professionals analyze the impact of mergers and anticompetitive practices on market performance, or advise companies and institutions on the design of policies and regulatory frameworks.

    You will join an environment of academic excellence: UC3M’s Department of Economics is ranked among the most prestigious in Europe. The program also benefits from the participation of professionals from leading institutions such as AELEC, CNMC, OMIE, REDEIA, AIReF, Enagás, and Iberdrola, as well as from top international consultancies including Compass Lexecon, NERA Economic Consulting, Frontier Economics, PwC España, ensuring a strong link with professional practice.

    │SPONSORS

    redeia

    Alsa

    omie

    Enagas

    Fundación Corell

    reasons to study Master in Economics of Competition, Regulation and Markets (CREMA)

    │MASTER IN NUMBERS

    • ☛ The UC3M Department of Economics ranks​​​​ #79 worldwide and #27 in Europe, according to RePEc (September 2025)
    • Teaching staff with doctorates from prestigious  in Europe and the United States
    • ☛ Collaboration with leading companies
    • ☛ A high percentage of teachers come from consulting firms and external regulatory bodies
  • CURRICULUM
    • CURRICULUM

      📥 │ Syllabus content

      Year 1 - Semester 1

      General subjects
      SubjectsECTSTYPELanguage
      Microeconomic Analysis6CEnglish
      Economic Analysis of Competition6CEnglish
      Economic Analysis of Regulated Markets3CEnglish
      Game Theory3CEnglish
      Econometrics and Data Analysis6CEnglish
      Advanced Applied Econometrics6CEnglish

      Year 1 - Semester 2

      General subjects
      SubjectsECTSTYPELanguage
      Empirical Methods for Competition Policy6CEnglish
      Cases of Competition and Regulation6CEnglish
      ELECTIVES (choose 12 ECTS)
      SubjectsECTSTYPELanguage
      Regulated Sectors I3EEnglish
      Regulated Sectors II3EEnglish
      Seminars on Regulated Sectors3EEnglish
      Evaluation of Economic Impact3EEnglish
      Time Series Econometrics6EEnglish
      Machine Learning in Economics6EEnglish
      Internships6EEnglish
      MASTER'S THESIS
      SubjectsECTSTYPELanguage
      Final Master's Thesis6Cvacio

      C) Compulsory: 42 ECTS

      E) Elective courses: 12 ECTS

      Master's Thesis: 6 ECTS

    • QUALITY

      GENERAL COURSE INFORMATION

      First year offered: 2026

      PROGRAMME’S QUALITY ASSURANCE

      The Academic Committee of the Master’s programme complies with the SGIC-UC3M and it is responsible for the follow-up, analysis, review, assessment and quality of the program, it contributes with proposals to improve the program and produces the “Memoria Académica de Titulación” (Programme Report).

  • FACULTY

    UC3M FACULTY

    • CARRO, JESÚS
      Department of Economics
      Associate Professor
      PhD in Economics - Centro de Estudios Monetarios y Financieros (CEMFI)
      Brief CV
    • CELENTANI, MARCO
      Department of Economics
      Associate Professor
      PhD in Economics - University of California Los Ángeles
      Brief CV
    • SIOTIS, GEORGES
      Department of Economics
      Associate Professor
      PhD in Economics - ECARES, Free University of Brussels
      Brief CV

    EXTERNAL FACULTY

    • BEATO, PAULINA
      Director of BSE (Board of Trustees)
      PhD in Economics (Universidad de Minnesota)
    • DE RUS, GINÉS
      Universidad de las Palmas de Gran Canaria
      Professor Emeritus
      PhD in Economics (Leeds University)
    • DELGADO, JUAN
      Consultant
      PhD in Economics (UC3M)
      GAMES ECONOMICS
    • FERNÁNDEZ-CUESTA, NEMESIOState Economist/Commercial Technician
    • FREIRE, DANIEL
      Head of Corporate Development - Global Strategy
      RENFE
    • GARCÍA COBOS, JULIO
      Consultant
      PhD in Economics (State University of New York at Stony Brook)
      PQAXSIS
    • HERGUERA, IÑIGO
      Associate Professor
      PhD Economics (EUI, Florencia)
      UNIVERSIDAD COMPLUTENSE DE MADRID
    • JUNCO, MARÍA
      General Manager of Technical System Management (GTS)
      ENAGÁS
    • RIERA, ALBERT
      Vice President of COMPASS LEXCON-MADRID
      MA in Economic Analysis, Universidad Carlos III de Madrid
      MSc in Experimental and Theoretical Physics, Cambridge University
    • SÁNCHEZ, ISABEL
      Vice Rector for IE UNIVERSITY
      PhD in Economics (U. de California San Diego)
    • SANTAMARÍA, JUANA
      Manager Madrid
      PhD in Economics (European University Institute)
      FRONTIER ECONOMICS
    • SORIA, BRUNO
      Director
      PhD in Economics (Universidad Autónoma de Madrid)
      NERA
  • ADMISSION
    • ADMISSION

      Application

      The request must be submitted electronically through our application system. Before beginning the admission process, please read the following information:

      Requirements

      A Bachelor’s degree in Economics or related areas, or prior Master’s-level training in the field of Economics, is required. Applications from graduates in other disciplines who can demonstrate the necessary knowledge of microeconomics, quantitative methods and mathematics required by the master’s program courses will also be considered.
       

      Admission criteria

      Admission will be decided by the Master’s Academic Committee. Candidate selection will be done on the basis of the following criteria:

      ADMISSION CRITERIA WEIGHTING
      Official academic records 70 points
      Reference letters 20 points
      Curriculum vitae 10 points

      RECOMMENDED ENTRY PROFILE

      The master’s program is primarily designed for graduates in Economics or related fields who wish to deepen their understanding of markets, competition, and regulation.

      It may also be suitable for students with some familiarity with quantitative analysis who acquire the necessary knowledge in microeconomics, quantitative methods and mathematics.

      The program’s director can provide guidance on the recommended prior knowledge and on how to obtain it before the start of the program.

      language requirements

      Since English is the official language of the programme, a high level of written and spoken English is required. This knowledge can be accredited with the results of an official C1 English diploma (CEFR) including evaluation of the 4 areas: listening, reading, speaking and writing. As a general rule, the following minimum scores for other certificates are required:

      • TOEFL (iBT): 95-120
      • IELTS: 7.0 - 8.0
      • Cambridge ESOL: Certificate in Advanced English (CAE)
      • TOIEC (Four skills): ≥ 1305
      • Linguaskill: minimum of 185

      The language requirements will not be required to those students whose mother tongue is English or students who have completed their undergraduate studies in English, upon presentation of the relevant documentation.

      students with foreign university degrees

      Once admitted to the Master’s program, students holding a university degree from a higher education institution outside the EHEA must provide the diploma, legalized through diplomatic procedures or by The Hague Apostille, for enrollment. They must also submit their transcript of records, including the grade point average, duly legalized.

      More information about Legalization of Foreign Documents.

      If needed, documents must be accompanied by an official sworn translation into Spanish.

    • ENROLLMENT

      TUITION FEES*

      Reservation fee: €800

      • it will be paid once the student receives notification of admission to the master’s, and deducted from the first tuition payment
      • the reservation fee will only be refunded if the master program is cancelled
         
      EU STUDENTS (€130/ECTS)
      First academic year - 60 ECTS €7,800
      NON EU STUDENTS (€195/ECTS)
      First academic year - 60 ECTS €11,700

      ✎│Tuition fees
       

      NOTE: the indicated public prices do not include in any case, neither the ECTS corresponding to the Formative Complements that the student must take (only master's degrees with previous Formative Complements), nor the cost of issuing the master’s degree certificate.

      _______

      * Current fees for the academic year 25/26, pending approval by the Community of Madrid for the academic year 26/27.

      Additional information

      • You may enrol on the master’s degree after completing the admission process and receiving formal confirmation of your acceptance.
      • When performing the enrolment you can choose between Full-time enrolment or Part-time enrolment.
      • The email address provided upon enrolment will be used for formal communications; students are therefore kindly requested to check their mail regularly.
      • Pursuant to the regulations of the Universidad Carlos III de Madrid, a student failing to pay any part of the fees will not be admitted and the enrolment process will be terminated. In cases of cancellation of enrolment due to non-payment, the University may demand the payment of the pending amounts for enrolment in previous academic courses as a prior condition of enrolment.
        No diploma or certificate will be issued if a student has any outstanding payments.

      ✎│Enrolment master’s programmes

      ✎│ECTS credits recognition

  • SCHOLARSHIPS

    General information on scholarships

    For more information on specific scholarships of interest, awarded by the Universidad Carlos III de Madrid as well as other agencies or organizations, please refer here:

    🎓 │ Scholarships to study a University Master

  • PRACTICAL INFORMATION
  • INTERNATIONAL

    International Complement

    Qualified students could apply for financial support by the Erasmus Program.
     

    At the end of the regular master program, students may opt to spend a placement period of 3-6 months in another European school studying complementary disciplines, such as Marketing, Finance, Management, Information Systems or Accountancy, or just deepen into Economics.

    Having the opportunity to go to another European university within an international program allows the students to complement their training, in addition to having the experience of living in a different country, as well as in a different university environment.

    Students receive formal recognition for their academic study period abroad in the transcript of records and in the degree certificate.

    Currently, the University has exchange agreements at Master level in the area of Economics and Business Administration with the following universities:
     

    Internacionalización - Universidades Colaboradoras