Spectrophotopolarimetric capability can be added to a laboratory interferometer-spectrometer by use of a specially designed module described herein. With the instrument so augmented, high-resolution spectra can be obtained of the Stokes parameters of the reference beam and the beams diffusely reflected or transmitted by a sample medium of interest. For any such beam, the exponential Fourier transforms of the two interferograms obtained with a polarizer-analyzer oriented along the 0 ° and the 90 ° directions provide the spectra of I and Q, separately. Within experimental (and numerical) noise, this I spectrum should be the same as the one obtained with the polarizer removed. The remaining Stokes parameters U and V are obtained with a third interferogram recorded with the polarizer along the 45° direction. The complete theory of this instrument is described including the detailed analysis of the polarization-interferograms it provides.