A one-year program for doctoral students from any university and discipline who are interested in political economy.
Applications are currently closed. Applications for the 2026-2027 academic year will open in the Fall of 2025.
Application review will begin after the deadline, and decisions will begin to be announced twelve or more weeks after the deadline.
The Adam Smith Fellowship is awarded to graduate students attending PhD programs at any university and in any discipline, including but not limited to economics, philosophy, political science, and sociology.
The aim of these fellowships is to introduce students to and encourage them to critically engage key thinkers in political economy that they might not otherwise encounter during their graduate studies. As such, Adam Smith Fellows spend three weekends during the academic year and one week during the summer participating in workshops and seminars on the Austrian, Virginia, and Bloomington schools of political economy. Fellows will join a network of Mercatus students, alumni, and scholars who are conducting and engaging with cutting edge research in contemporary political economy.
Students who meet all of the following 3 criteria are strongly encouraged to apply:
Yes. Acceptance to the program is conditional on enrollment in an accredited PhD program during the year of participation in the Adam Smith Fellowship program.
To apply to the Adam Smith Fellowship, click the “Apply” button above or below, and complete the online application, including:
A 1-2 page cover letter explaining:
your graduate school career to date,
your research interests and current projects,
your familiarity with the thinkers associated with the Austrian, Virginian, and Bloomington schools of political economy, and
what you hope to get out of the program.
A current resume/CV
A few short answer questions
Application review will begin after the deadline, and decisions will begin to be announced twelve or more weeks after the deadline.
Yes. It is the responsibility of the applicant to determine whether work related to completing a dissertation or going on the job market will interfere with full involvement in the program. Applicants who can commit to full participation in the program are strongly encouraged to apply.
Yes. PhD students from any discipline who have a research or teaching interest that would benefit from a greater understanding of key writings in political economy are strongly encouraged to apply.
Any student of any nationality enrolled in any doctoral program at any university, in the US or abroad, is eligible to apply for the Adam Smith Fellowship. The program will arrange and cover airfare, as well as lodging and meals associated with the fellowship.
Each fellow is responsible for making the appropriate verifications of their eligibility to receive funding from the Mercatus Center. Fellows should check with their home departments, international student offices, or private foundations (as appropriate) to verify their eligibility. Fellows are responsible for any applicable taxes on the honoraria provided through the Adam Smith Fellowship.
Adam Smith fellows are required to remain enrolled as a degree seeking doctoral student throughout their participation in the Adam Smith Fellowship Program, attend and actively participate in all aspects of the scheduled program of events (i.e., the three weekend and one weeklong colloquia) including meals and organized social activities, arrive on time and prepared for each colloquia session having carefully read the assigned reading in advance, and be honest, responsible, fair, and civil in all activities of the Adam Smith Fellowship Program.
The terms of the Adam Smith Fellowship carry with them the expectation that fellows will be substantially involved in the entirety of the formal colloquium schedule as well as the activities, including meals and hospitality, that are scheduled as part of the conference program. This expectation exists because conversations about the readings and the discussions in the colloquium sessions invariably continue beyond the time allotted by the program schedule. We also strongly encourage the fellows to interact with each other and faculty participants about their own and each other’s academic work and how it relates to the themes discussed in session. Consequently, in order to ensure that every fellow gets the most out of the experience, all fellows are required to lodge at the conference site and to be present for the entirety of the scheduled program.
Colloquium dates are subject to some variability. Historically, the program has hosted two weekend colloquia in the fall, one weekend colloquium in the spring, and one week long colloquium in the summer. Exact dates will be confirmed during the months of June or July preceding participation in the program.
For weekend colloquia, fellows should plan to arrive at the conference hotel prior to 5pm on the Thursday that commences the colloquium; fellows are free to leave at their convenience on Sunday morning when the colloquium adjourns.
Fellows are responsible for maintaining an up to date record with the program of a valid postal address to which packages can be shipped. Readings will be distributed both by email and by post 2 months in advance of each colloquium.
Fellows may submit for reimbursement any conventional expenses associated with academic travel. These expenses include cab fare and mileage incurred by the fellow to and from home and the conference site, parking, and hotel accommodation in the event of travel delays.
Yes.
Yes, fellowship recipients are eligible to re-apply to the Adam Smith Fellowship each year of their studies. Doctoral students may also be eligible for the Oskar Morgenstern Fellowship, Frédéric Bastiat Fellowship, Elinor Ostrom Fellowship, and Don Lavoie Fellowship.
Email [email protected] regarding general questions about the fellowship or questions about your application status or application materials.
