The Adam Smith Fellowship 2026-2027 is a prestigious program offered by the Mercatus Center to graduate students currently enrolled in PhD programs across various disciplines. The fellowship aims to introduce scholars to the Austrian, Virginia, and Bloomington schools of political economy through three weekend-long colloquia. Selected fellows receive a total award of up to $7,000, which includes a stipend, all required readings, and covered travel and lodging expenses. The application requires a 1-2 page cover letter detailing research interests and familiarity with key political economy thinkers. The final deadline for the 2026-2027 academic cycle is March 15, 2026.
Mercatus Center Adam Smith Fellowship 2026-2027 Summary Table
| Detail | Value |
|---|---|
| Host Institution | Mercatus Center at George Mason University |
| Location | United States (Travel required for colloquia) |
| Category | PhD Fellowship / Research Award |
| Eligible Disciplines | Economics, Philosophy, Political Science, Sociology, etc. |
| Reward | Up to $7,000 (Stipend + Travel + Books) |
| Requirement | Enrollment in an accredited PhD program |
| Application Deadline | March 15, 2026 |
Mercatus Center Adam Smith Fellowship 2026-2027 Details
The Adam Smith Fellowship is designed to complement a student’s doctoral education by providing an intellectual space to engage with foundational and contemporary texts in political economy. Unlike traditional scholarships, this fellowship focuses on high-level seminar discussions where students critically analyze the works of thinkers associated with the Austrian, Virginia (Public Choice), and Bloomington (Institutionalism) schools.
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Fellows join a robust global network of Mercatus scholars and alumni. This community fosters collaborative research and provides a platform for young academics to share their work with established experts in the field. The program is specifically curated for those who wish to integrate these schools of thought into their own teaching or research agendas.
Selection Criteria
Candidates are selected based on the quality of their research interests and their potential to contribute to the discourse on political economy. The selection committee looks for students who demonstrate a genuine curiosity about how institutions, incentives, and ideas shape social and economic outcomes.
Benefits of the Mercatus Center Adam Smith Fellowship 2026-2027
Tier 1: Financial Stipend & Research Award (Up to $7,000)
- Direct Stipend: A monetary award paid out during the academic year to support the fellow’s research and living expenses.
- Full Reading Library: All required books and seminar materials are provided to the fellow at no cost, building their personal academic library.
Tier 2: Professional Development & Travel
- Travel and Lodging: Full coverage of transportation and hotel costs to attend three weekend-long colloquia hosted at George Mason University or other designated locations.
- Networking Access: Exclusive access to a network of alumni and senior scholars conducting cutting-edge research in contemporary political economy.
Tier 3: Academic Seminars & Mentorship
- Colloquia Participation: Intensive, seminar-style workshops that provide a deep dive into the Austrian, Virginia, and Bloomington schools.
- Research Engagement: Opportunities to receive feedback on current PhD research from peers and Mercatus faculty.
Eligibility Requirements for Mercatus Center Adam Smith Fellowship 2026-2027
- Academic/Leadership: Applicants must demonstrate a strong research or teaching interest in political economy.
- Study Status: Students must be enrolled in an accredited PhD program in any discipline (e.g., Economics, Philosophy, Political Science, Sociology) during the 2026-2027 academic year.
- Visa Status: Open to international students, provided they are enrolled in an accredited PhD program and can travel to the colloquia.
- Program Admission: Fellows must commit to attending three full weekend travel colloquia throughout the academic year.
How to Apply for Mercatus Center Adam Smith Fellowship 2026-2027 (Step by Step)
- Apply for Program: Complete the online application portal, including the submission of a 1-2 page cover letter and a current CV.
- Automatic Evaluation: The Mercatus Center review committee screens applications for PhD enrollment status and research alignment.
- Eligibility Assessment: Shortlisted candidates are evaluated based on their short-answer responses and their articulated interest in the specific schools of political economy.
- Notification of Award: Selected fellows are typically notified via email by late spring to prepare for the upcoming academic year.
Application Deadline: March 15, 2026
CLICK HERE TO APPLY
Frequently Asked Questions (FAQ)
1. Can students from outside the United States apply?
Yes, the fellowship is open to PhD students at any accredited university globally, as long as they can commit to the travel requirements.
2. Is the fellowship limited to Economics students?
No, it is highly interdisciplinary and welcomes students from Philosophy, Political Science, Sociology, and other related fields.
3. What if I have no prior knowledge of the Austrian or Bloomington schools?
The fellowship is intended to “introduce” students to these thinkers. While some familiarity is helpful, a strong desire to learn and engage is the primary requirement.
4. Are the travel expenses reimbursed or paid upfront?
The Mercatus Center typically coordinates and pays for lodging and major travel (flights) directly, ensuring no out-of-pocket burden for the student.
5. Can I hold other fellowships simultaneously?
Generally, yes. The Adam Smith Fellowship is designed to complement your existing graduate funding.
6. What should be the focus of the 1-2 page cover letter?
It should detail your academic journey, your specific research interests, and why you believe studying these schools of political economy will benefit your work.
7. Does the $7,000 include the travel costs?
Yes, the total award value of $7,000 covers the stipend, travel, lodging, and all reading materials provided throughout the year.
8. How many colloquia must I attend?
Fellows are required to attend all three scheduled weekend colloquia to remain in good standing and receive the full stipend.
9. Is this a residential fellowship at George Mason University?
No, it is a non-residential fellowship. You remain at your home university and only travel for the specific workshop weekends.
10. Can I apply if I am in my final year of my PhD?
Yes, as long as you are still enrolled as a PhD student during the full 2026-2027 academic year.
