Adam Smith Fellowship

Adam Smith Fellowship

Offers full-time fellowship support for scholars exploring foundational questions in economics and policy.

The Adam Smith Fellowship is a one-year program administered by the Mercatus Center at George Mason University for doctoral students enrolled in PhD programs at any university and in any discipline worldwide. The fellowship introduces students to key thinkers in political economy — specifically the Austrian, Virginia, and Bloomington schools — through three weekend colloquia held during the academic year: two in the fall and one in the spring. Fellows arrive Thursday by 5 pm and depart Sunday morning for each colloquium, with all travel costs covered by Mercatus.

The total award is up to $7,000, covering a stipend, all required readings, and travel and lodging to attend the colloquia. Eligible disciplines include economics, philosophy, political science, sociology, and others; any nationality is eligible, and applicants may be enrolled at any PhD-granting university worldwide. Fellows may reapply each subsequent year of their doctoral studies. Decisions are announced approximately twelve weeks after the application deadline. The 2026-2027 cycle is closed; the 2027-2028 cycle will open at a date to be announced via the Mercatus newsletter.

The Adam Smith Fellowship sits alongside several other Mercatus doctoral fellowships, including the Oskar Morgenstern, Frédéric Bastiat, Elinor Ostrom, Carl Menger, Ronald Coase, and Don Lavoie fellowships. While the fellowship is intellectually oriented toward political economy, no prior coursework in political economy is required — the program is explicitly designed to expose students to ideas they might not otherwise encounter in their graduate programs. Applications are submitted via the Mercatus online form at mercatus.tfaforms.net when the cycle opens; questions can be directed to SmithFellowship@mercatus.gmu.edu.