The Institute for the Study of Free Enterprise is dedicated to understanding the role that markets play in the economy and in society. The Institute’s mission is to generate intellectually rigorous research and an open dialogue to discover and understand how free enterprise affects peoples’ lives and the well-being of society.

We are excited to announce the launch of a Health Economics Program within the Institute in July 2024. This program, started with funding from the Kentucky Hospital Association and Global Action to End Smoking, will conduct research on the role of hospitals in the free enterprise system and unique financial challenges facing them, as well as how public policy interventions influence the market for tobacco products.

The Institute is currently seeking additional funding to continue our business simulation contest called the "CEO Challenge", as well as our Junto Reading Group. To inquire about potentially supporting the Institute's mission, please email isfe@uky.edu

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Annual Report

In the News

ISFE Director Dr. Charles Courtemanche presented ISFE Working Paper No. 55 "The Effect of E-Cigarette Flavor Bans on Tobacco Use," co-authored by Chad Cotti, Yang Liang, Johanna Catherine Maclean, Erik Nesson, and Joseph J. Sabia, at the Global Action to End Smoking webinar on August 23rd.


Congratulations to our director Charles Courtemanche and co-authors Yang Liang, Johanna Catherine Maclean, Caterina Muratori, and Joseph J. Sabia on their paper "Do E-Cigarette Retail Licensure Laws Reduce Youth Tobacco Use?" being published online by the Journal of Health Economics


Op-Ed by Charles Courtemanche, Associate Professor of Economics and Director of the Institute for the Study of Free Enterprise, Gatton College of Business of Economics, University of Kentucky


New study by our director Charles Courtemanche and co-authors Jordan Jones, Antonios M. Koumpias, and Daniela Zapata that examines the connection between state Medicaid expansions and adult mortality was featured on Marginal Revolution


Congratulations to VACE's Fall 2022 Monday Night Session Entrepreneurs Bootcamp 1.0 winners! ISFE was proud to provide the prize money for this great competition!

1st Place: Erin Webb/Advosense

2nd Place: Vaugh Holder/Tranquil

3rd Place: Bertin Louis & Tina Ho/Navigating Higher Education

4th Place: Mark Litvin/Revelation Woodworking

5th Place: Demethra Sanders/Be Fly Fitness


Most Recent Video

Coronavirus Economics #7: New study shows government restrictions are stopping COVID-19.

Dr. Charles Courtemanche explains his latest study published in the Health Affairs journal about the effect of stay-at-home orders, business closures and other government measures in the spread of COVID-19.