Master in Economics of Competition, Regulation and Markets
Graduate School of Economics and Political Science
- Direction
- Prof. Ángel Hernando Veciana (pending appointment)
- Language
- English
- Attendance
- On-campus
- Credits
- 60
- Campus
- Getafe
- Applications
-
☛ Places available: 40
- Departments
- Economics Department
CONTACT
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APPLICATION FOR ADMISSION
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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.
│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 Subjects ECTS TYPE Language Microeconomic Analysis 6 C 
Economic Analysis of Competition 6 C 
Economic Analysis of Regulated Markets 3 C 
Game Theory 3 C 
Econometrics and Data Analysis 6 C 
Advanced Applied Econometrics 6 C 
Year 1 - Semester 2
General subjects Subjects ECTS TYPE Language Empirical Methods for Competition Policy 6 C 
Cases of Competition and Regulation 6 C 
ELECTIVES (choose 12 ECTS) Subjects ECTS TYPE Language Regulated Sectors I 3 E 
Regulated Sectors II 3 E 
Seminars on Regulated Sectors 3 E 
Evaluation of Economic Impact 3 E 
Time Series Econometrics 6 E 
Machine Learning in Economics 6 E 
Internships 6 E 
MASTER'S THESIS Subjects ECTS TYPE Language Final Master's Thesis 6 C vacio C) Compulsory: 42 ECTS
E) Elective courses: 12 ECTS
Master's Thesis: 6 ECTS
course Programs
- 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).
- CURRICULUM
- 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
- DELGADO, MIGUEL
Department of Economics
Full Professor
PhD in Economics - London School of Economics
Brief CV
- ESCANCIANO, JUAN CARLOS
Department of Economics
Distinguished Researcher
PhD in Economics - Universidad Carlos III de Madrid
Brief CV
- ESCRIBANO, ÁLVARO
Department of Economics
Full Professor
PhD in Economics - University of California San Diego
Brief CV
- HERNANDO, ÁNGEL
Department of Economics
Full Professor
PhD in Economics - University College of London
Brief CV
- MACHADO, MATILDE
Department of Economics
Associate Professor
PhD in Economics - Boston University
Brief CV
- MARHUENDA, FRANCISCO
Department of Economics
Full Professor
PhD in Mathematics - Universidad de Rochester
Brief CV
- SIOTIS, GEORGES
Department of Economics
Associate Professor
PhD in Economics - ECARES, Free University of Brussels
Brief CV
EXTERNAL FACULTY
- ALONSO, ALEJANDRO
Energy Management
CNMC
- BEATO, PAULINA
Director of BSE (Board of Trustees)
PhD in Economics (Universidad de Minnesota)
- CASTRO, MARTA
Director of Regulation
AELEC
- CILLERO, ALBERTO
Director of Studies, Procurement, and Innovation
ALSA
- DE LA FLOR, FRANCISCO
Director (Regulation / Sector Representation)
ENAGÁS
- 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
- ESTEBAN, JOSÉ VÍCTOR
Secretary General
FUNDACIÓN CORELL/COBIBERIA
- 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
- MAYORAL, ELENA
General Manager of Barajas Airport
AENA
- MEDNIK, GREGORIO
Director of Energy Management and New SolutionsCAPITAL ENERGY
- 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
- RODRÍGUEZ, JOSÉ MARÍA
Associate Director-Madrid
FRONTIER ECONOMICS
- RODRÍGUEZ DAPENA, ÁLVARO
Deputy Director of Strategy and Business Development
PUERTOS DEL ESTADO
- 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
- CARRO, JESÚS
- 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 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.
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* 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.
- ADMISSION
- 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:
- PRACTICAL INFORMATION
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MASTER’S COURSE SCHEDULE
The schedules will be published soon.
Classes will be given in the AFTERNOON.
- LINKS OF INTEREST
Additional Information
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- 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:
- Maastricht University (Netherlands)
- Audencia Nantes School of Management (France)
- Tilburg University (Netherlands)
- Humboldt- Universitat zu Berlin (Germany)
- Copenhagen Business School (Denmark)