A polarization modulated spectroscopic ellipsometer is used in situ to measure the thicknesses of films in real time during semiconductor plasma etch processing. Utilizing the speed of phase modulation multichannel detection, and digital signal processing techniques, this ellipsometer is capable of acquiring spectral data in less than 75 ms. Efficient algorithms were developed for determining layer thicknesses from the measured spectra of multilayer film stacks in real time with a typical solution time of a few seconds. The measured thicknesses and etch rates are used to anticipate interfaces in multiple layer stacks and control process end points. The ability of the spectral ellipsometer to measure multilayer stacks during etching is demonstrated by the etching of a stack consisting of silicon nitride, polycrystalline silicon, and silicon dioxide. Such stacks are commonly used as masks for field oxidation for electrical isolation in memory device fabrication. An isotropic plasma etch is used to remove this film in a single-wafer process environment.