Academic Master´s in Regulatory Law


As a result of the State financing crisis and the re-democratization process in the 1980s, the Brazilian historical interventionist model, strongly based on the direct State intervention in the economy, gave room to a moderate model where public authorities act mainly employing indirect intervention in markets through normalization, foment and control.

These changes strongly affect the law sphere, which had to be adapted, on one hand, to equip the State with institutions and required mechanisms to make this new model feasible, and, on the other hand, establish their limits.

Regulation is the product of this new legal reality, and it is not limited to a specific field of legal knowledge. In fact, it operates in an evolutionary movement that reaches different areas, such as legal protection of the sustainable environment, free initiative and other rights, access to new technologies, models of administrative governance, entrepreneurial activity, economic impacts, and institutional aspects involving political and legal models, jurisdictional organization and performance and interpretation of norms that conform or affect the regulatory model.

This master’s degree is turned to the analysis and improvement of the actions of this new Brazilian State in these different areas. The program innovates in teaching methods, adopting sophisticated theoretical instruments and the examination of successful regulatory experiences in Brazil and abroad. It develops and adapts them to encourage analytical, critical, and propositional reasoning focused on the identification, prevention, and solution of problems in the area from an interdisciplinary and multidisciplinary perspective.

Adopted methodologies prioritize the student’s participation and the development of conceptual rigor and critical capacity. 

Why FGV Direito Rio Master’s degree Program
•    FGV´s institutional tradition
•    The only master’s degree in Regulation in the country
•    Inter and multidisciplinary approach
•    Renowned faculty 
•    Advanced research projects
•    Current subjects and themes
•    Modern infrastructure
•    Student exchange program 


The master’s degree program develops actions to approximate important foreign institutions acknowledged for the quality of their production on central themes for an in-depth understanding and criticism of regulation, aiming at establishing a constant flow of students and professors involving the program and its partners abroad, and also the development of research projects, events and joint production by students and professors.  Periods for research free of tuition charges can be made in several institutional partners acknowledged as a reference in the production of knowledge on the regulatory phenomenon, like, for example, the European University Institute, in Florence, which counts on an outstanding Regulation Center; the Institute for Law and Finance, in Frankfurt, main European reference in development of research on financial regulation; the Portuguese Catholic University and Université Dauphine, in Paris, both with bold and innovative projects in teaching and research areas, with special highlight to Public Law and financial regulations.



This line gathers researches intended to understand, analyze, diagnose, and indicate solutions for issues associated with structural aspects of the State and its regulatory bias. The focus of these analyses is on its role in the economic area and the rendering of public services, its constitutional vocations, the complexity of social relations and impacts resulting from the change in State governance, from a hierarchical type to a polycentric model, its democratic credentials, constitutional limits, and programs that condition its actions, epistemic limits that affect regulatory choices and their control, its decision-making process in all dimensions, including sanctioning dimension, and its role in the achievement of relevant economic, political and social objectives. In addition to seeking to evidence the grounds, attributions, characteristics, and role of the State, the line also turns to the study of Regulatory Agencies, institutions, public or private, nationally and internationally, that exercise regulatory functions or affect regulatory options and other institutions that interact with regulatory agents in specific institutional arrangements, particularly those that control regulatory agencies, like Court of Auditors and bodies of the Judiciary, to learn their institutional configuration, the institutional design where they operate and their decision making process. The line is basically intended to develop, both separately and articulately, knowledge related to the three pillars of what was formerly called “the new administrative State”: Constitution, democracy, and knowledge, covering political, legal-dogmatic, and Law theory matters behind the dynamics of conformation, action, and the decision of regulatory entities and other institutions that interact with them, thus ensuring broader and deeper analyses and diagnoses of the challenges faced by the State and entities that exercise regulatory functions.

RESEARCH PROJECTS: this research area contains the following projects under way, each one with their own purposes:

•    Regulatory State: Structure and Functions – This objective of this project is to investigate the fundaments of regulation, historical processes of consolidation of the regulatory State, its institutional confirmation, and the administration’s constitutional vocations associated with the performance of regulatory roles, like rendering of public services, sanctioning activities, and their impacts on incentives of public and private players that operate in the economy, treatment of market failures and natural monopolies, administration of risks in a complex society, governance and definition of good regulatory practices. This project is chiefly intended to learn and propose changes in gears that structure the Regulatory State, governance mechanisms, and incentive systems created by sanction strategies (administrative and penal) destined to the efficient achievement of relevant economic and social objectives. 

•    Institutional interactions and regulatory decision-making process - The objective of this project is to produce theoretical and empirical knowledge on the structure and decision-making process of institutions considered separately and in their interactions with other institutions with regulatory functions or control of regulatory decisions. These analyses may occur from a local, international, or multilevel perspective. Moreover, in this line, researches are developed destined to identify, explain, and analyze variables that affect regulatory institutions’ performance, their decision process, and decision making of control bodies with regulatory options. Moreover, this line is intended to develop studies on themes like epistemic limitations and capacities of decision-makers, mechanisms for measurement of quality and assessment of regulatory choices, influences of the structural indetermination of the legal system in regulation, the democratic legitimacy of decisions in the Regulatory State, uncertainties associated to consequentialist reasoning, strategic behavior and political aspects of the regulatory decision, control of regulatory decisions and normative limits and incentives to the design and functioning of regulation structures. The present project is essentially interdisciplinary as it aims at investigating problems and proposing solutions for regulatory challenges based on elements of the Theory of Law (for example, exploration of problems associated with normative structures and theories that justify decisions) and institutional analyses. This structuring project does not neglect an important assumption for institutional comparative analyses, considered fundamental for debates on the legitimacy of regulatory choices and the intensity of control (chiefly legal) of regulatory options: knowledge of institutional capacities not only of regulatory entities but also of other institutions that may interact with them in spaces where competences are not defined, particularly controlling entities (like Courts of Auditors) and institutions of the legal system.


The second line aims at developing research focused on the content of regulatory options and turned to both the knowledge of the dynamics of regulated sectors or that demand regulations and the proposition of answers, legal or not, for market problems or coordination between regulatory entities and private players. For such, the line favors, beyond conventional legal answers to deal with regulatory challenges, (i) new perspectives to think of solutions to regulatory problems, like the role played by taxation on regulated agents’ behavior, and (ii) an economic look to the understanding and appropriate guidance of incentive systems generated by regulatory options and for analysis of the effects of regulatory choices. Since many of these choices are concretized employing public policies, the line is also turned to the exploration of contact points among different policies (for example, competition defense policy, consumer defense policies, industrial policy, commercial defense policy, and intellectual property rights’ protection policy) and the achievement of relevant constitutional objectives affecting regulatory options. Differently from more conventional visions, the present research line is not limited to analyzing the regulatory phenomenon from the state perspective, but also covers the knowledge of regulated scenarios or that deserve regulation where private players (companies and consumers, for instance) act and make decisions. Thus, the line covers research on consumers’ profile and behavior and the effects of regulatory alternatives for them, in addition to studies on the function and nature of companies, their role in markets, and relations between regulation and competition.

RESEARCH PROJECTS: this research area contains the following projects under way, each one with their own purposes:

•    Public policies and regulatory alternatives – The present Project includes researches turned to the exploration of points of contact, challenges, and conflicts involving processes for creation, implementation, and assessment of different public policies and the achievement of legal, social, and economic objectives, like competition defense, consumer protection, technological advance, innovation, and development. The line is also intended to produce knowledge on the use of different mechanisms as sources of incentive to meet regulatory needs of public authorities, like taxation, and to foment the accountability and efficiency of regulatory policies. In this regard, the line also comprises research destined to identify and understand the challenges associated with the adoption of conventional or less divulged strategies like self-regulation and meta-regulation, by government or corporate segments, in general, and in regulated sectors, to deal with market failures and to achieve regulatory objectives.

•    Regulation, Economy and Market – This project aims at exploring the different interactions between legal and economic systems for the understanding, criticism, and guidance of regulatory choices and structures. It also aims at investigating the influence of economic agents’ behavior and macro and micro-economic factors in the organization, development, and decision making in the legal field. Finally, the project is intended to develop analyses and discussions on the effects of normative alternatives on individual behavior, the organization of the economic system, the corporate environment, and market operation. Examples of these interactions can be observed by the adoption of economic analysis of law and perspectives like those offered by behavioral economics and the new institutional economics for appropriate regulation of property rights, preparation of contracts, financial market and credit market regulation, knowledge of consumers’ behavior, analysis of a corporate organization and regulatory and financial restructuring of companies. Some of these themes, though with relevant repercussions in the economy, are still little studied in the law field, which places most studies in this line distant from more traditional analyses of the interactions between regulation and economy.

•    Sectorial regulation and sustainability – This project aims at producing knowledge on governance, its implementation, performance, and current and desirable levels; definition and application of quality parameters and the need and impacts produced by specific regulation models on segments like transport, environment, energy, infrastructure, sanitation, oil and gas, intellectual property, internet, health, and telecommunications. In this project, the focus is particularly on structures, relevance, and impacts of regulatory options on specific sectors, always taking as reference the peculiarities of each sector and legal objectives - mainly constitutional - that should shape regulation. The line aims at proposing solutions to maximize the efficiency of economic and legal instruments to promote sustainability and for the due protection of social, environmental, and economic constitutional rights already regulated or that demand regulatory actions.



•    06/29 to  10/21/2020 – Applications and documentation upload 
•    06/29 to 10/21/2020 – Requests for scholarship and documentation upload 
•    11/05/2020 – 1st phase – English writing test (9am to 12pm)
•    11/06/2020 – 2nd phase  – Specific knowledge writing test (9am to 1pm)
•    11/19/2020 – 1st and 2nd phase results and indication of pre-project defenses schedule•    11/30 to -12/04/2020 – 3rd phase – pre-project defenses
•    12/12/2020 – Final results 
•    12/18/2020 – Results of scholarship requests  
•    01/18 to 01/27/2020 - Registration
•    03/08/2021 – Beginning of classes

For further information, access the public notice (only in Portuguese).


Time of classes: mornings and/or afternoons
Days of the week: from Monday to Friday
Annual selection: 26 students 
Contact: (55 21) 3799-6199 or
Opening hours: Monday to Friday, from 9am to 6pm 


During the selection process, the coordination of the Academic Master of Regulation promotes the course presentation lecture. It is an informative session, where applicants interested in the program will have the opportunity to get to know professors, research lines, developed projects, in addition to obtaining more detailed information on the program. Date to be informed.

The meeting will be conducted by FGV Direito Rio Master’s Degree coordinator, professor Fernando Leal, who will address the following themes: course structure, scholarships, teaching methodology, research lines, developed projects, and phases of the selection process, international opportunities, and main guidelines of the course regulation. Regulation


One lump sum:  R$ 71.400,00  (seventy one thousand and four hundred reais) 

Tuition: 24 installments of R$ 3.710,00 (three thousand, seven hundred and ten reais)


The Academic Master of Regulation offers different possibilities of scholarship for students that intend to dedicate themselves to research exclusively. Currently, the students of the master’s degree program can receive scholarships from public foment institutions (PROSUP-CAPES) and FGV Direito Rio. Scholarship holders can also participate in research projects linked to FGV Direito Rio´s centers. The number of available scholarships is annually informed in selection process notices.


•    Antônio Maristrello Porto – Doctor in Law, University of Illinois College of Law at Urbana-Champaign.

•    Armando Castelar Pinheiro – Doctor in Economics, University of California. 

•    Carlos Ragazzo – Post-doctor, University of California at Berkeley. Doctor in Law, Rio de Janeiro State University.

•    Eduardo Jordão – Doctor in Public Law, Universities of Paris (Panthéon-Sorbonne) and Rome (Sapienza), under joint supervision. 

•    Fernando Leal – Doctor in Law, Christian-Albrechts-Universität zu Kiel. Doctor in Public Law, Rio de Janeiro State University (UERJ).

•    Floriano Azevedo Marques – Doctor and Associate Professor of Public Law at São Paulo University (USP).

•    Ivar Alberto Martins Hartmann – Doctor in Public Law, UERJ. 

•    Joaquim Falcão – Doctor in Education, Université de Génève.

•    Leandro Molhano – Doctor in Political Sciences, Rio de Janeiro University Institute of Research.

•    Natasha Salinas – Doctorate and Master’s degree in Law, USP.

•    Patrícia Regina Pinheiro Sampaio – Doctorate and Master’s degree in Law, São Paulo University (USP). 

•    Paula Wojcikiewicz Almeida – Doctor in Law, Université Paris 1 Panthéon-Sorbonne and Doctor in Law, UERJ.

•    Rômulo Sampaio – Doctor in Environmental Law, Pace University’s School of Law.

•    Sérgio Guerra – Post-doctor, Yale Law School. Doctor in Law, Gama Filho University. 

•    Thiago Bottino – Post-doctor, Columbia Law School. Doctor in Constitutional Law,  Pontifical Catholic University of Rio de Janeiro. 


Fernando Leal
PhD in law from Christian-Albrechts University in Kiel with a scholarship from the German Academic Exchange Service (DAAD). PhD and master are in public law from Rio de Janeiro State University. Academic Coordinator of Master and PhD Courses and member of the PPGD permanent committee at FGV´s Rio de Janeiro Law School. Undergraduate professor at FGV´s Rio de Janeiro Law School. Researches in areas involving the theory and philosophy of law and constitutional law, especially on the following topics: methodology of law, the theory of principles, theory of the Constitution and constitutional interpretation, principles of public administration, institutional designs, relations between law and science, and constitutional and theoretical aspects of regulation.


•    Theory of the Regulatory State  •    Legal Research Methods

* Optional subjects will be subject to availability of the program’s professors and their offer will be informed at each semester. In addition to these, other subjects can be offered. 

•    Company Law and Economics
•    Economic Analysis of Law
•    Environmental Regulation
•    International Regulation
•    Law and Economics of Regulation: the cases of transportation and financial markets
•    Regulatory Alternatives
•    Regulating New Technologies
•    Rulemaking within Regulatory Bodies
•    The Criminal Repercussions of Economic Regulations
•    The Dynamics of Administrative Regulation
•    The Market and the State: The Regulation of Essential Economic Activies
•    Theory of Regulation
•    Dimensions of the Rule of Law and Principles of Public Administration; 
•     Interactions of the State Intervention Policies;
•    Law and Economics of Regulation: the railway sector
•    Taxation and Regulation of Economic Activities.


FGV´s Rio de Janeiro Law School  
Praia de Botafogo, 190, 13º andar – Botafogo
22250-900 – Rio de Janeiro – RJ 

Office Hour: Monday to Friday, from 9am to 6pm

PPGD’s Assistant Coordinators:

Jaqueline Nobre
Thais Gouveia

Phone: +55 21 3799-6199