A rapid direct spectroscopic ellipsometric parameter extraction algorithm for computational speed enhancement of dynamic spectroscopic ellipsometry is described. The proposed direct spectral phase calculation method can provide a faster spectral phase extraction capability than a Fourier transform-based approach, while maintaining the same level of accuracy as that based on the Fourier transform method. We analyze some additional benefits and limitations of the proposed direct computational method in terms of enlarged 1(λ) measurement spectral range and precision optimization.