The Adam Smith Fellowship 2026–2027 is now open for applications, offering doctoral students from any university and academic discipline a unique opportunity to deepen their understanding of political economy. This prestigious one-year fellowship is designed for PhD candidates who want to critically engage with influential ideas and scholars shaping contemporary economic and political thought.
Administered through the Mercatus Center at George Mason University, the Adam Smith Fellowship supports graduate students intellectually and financially while connecting them to a global network of scholars working on cutting-edge research in political economy.
About the Adam Smith Fellowship
The Adam Smith Fellowship is a competitive academic program awarded to doctoral students enrolled in PhD programs worldwide, regardless of discipline. While many fellows come from fields such as economics, political science, philosophy, or sociology, the fellowship is intentionally interdisciplinary and welcomes applicants from all academic backgrounds.
The primary goal of the program is to introduce fellows to major traditions in political economy that are often underrepresented in standard graduate curricula. Through structured discussions and immersive learning experiences, fellows critically explore the Austrian, Virginia, and Bloomington schools of political economy, gaining exposure to influential thinkers and analytical frameworks that broaden their academic perspectives.
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Fellowship Structure and Learning Experience
Adam Smith Fellows participate in three weekend-long colloquia held during the academic year. These events consist of seminars, workshops, and guided discussions led by experienced scholars. Fellows are expected to engage actively in conversations, readings, and collaborative learning activities.
In addition to academic enrichment, fellows become part of a vibrant intellectual community that includes Mercatus Center students, alumni, faculty, and visiting scholars. This network provides long-term professional value, fostering mentorship, collaboration, and future research opportunities in political economy and related fields.
Fellowship Benefits and Financial Support
The Adam Smith Fellowship offers total funding of up to $7,000, which is structured to remove financial barriers to participation. The award includes:
- A stipend to support fellows during the program year
- All required academic readings and materials
- Travel and lodging expenses for attending fellowship colloquia hosted by the Mercatus Center
This comprehensive funding package ensures that fellows can fully focus on intellectual engagement without worrying about additional costs related to participation.
Who Is Eligible to Apply?
To be considered for the Adam Smith Fellowship 2026–2027, applicants must meet the following requirements:
- Be enrolled in a PhD program at any university, in any discipline
There are no restrictions based on academic field, country of residence, or university affiliation. Doctoral students studying outside the United States are also eligible to apply. Applicants who are completing their PhD during the fellowship year may still be considered, provided they are enrolled in a doctoral program at the time of application.
Importantly, students who are planning to attend graduate school in the future but are not yet enrolled in a PhD program are not eligible for this fellowship cycle.
Application Timeline
- Application deadline: March 15, 2026
- Review process: Begins after the application deadline
- Decision notifications: Announced approximately 12 weeks or more after the deadline
Applicants are encouraged to submit their materials well before the deadline to avoid last-minute issues.
How to Apply
Applications for the Adam Smith Fellowship are submitted through the Graduate Student Fellowships Application portal of the Mercatus Center. This single application is used for several Mercatus graduate fellowships, including:
- Adam Smith Fellowship
- Carl Menger Fellowship
- Elinor Ostrom Fellowship
- Frédéric Bastiat Fellowship
- Ronald Coase Fellowship
- Oskar Morgenstern Fellowship
- Don Lavoie Fellowship
During the application process, candidates will be asked about their academic background, research interests, and educational plans for the upcoming academic year.
Applicants must also provide consent for the Mercatus Center to process and retain their personal information for application review and communication purposes.
Frequently Asked Questions and Support
The Mercatus Center provides a detailed FAQ section covering common questions such as eligibility, funding, program expectations, event schedules, reimbursable expenses, and opportunities to reapply if not selected.
Applicants who need additional clarification can reach out directly via email at SmithFellowship@mercatus.gmu.edu.
Why Apply for the Adam Smith Fellowship?
The Adam Smith Fellowship stands out as more than just financial support. It is an intellectually rigorous program that helps doctoral students:
- Expand their academic horizons beyond their primary discipline
- Engage critically with foundational and contemporary political economy ideas
- Build lasting professional relationships with scholars and peers
- Strengthen their research and analytical skills
- Join a respected global alumni network
For PhD students interested in political economy, institutions, governance, and social systems, this fellowship provides a rare opportunity to combine academic depth, interdisciplinary learning, and professional development.
For more inquiries, visit the Adam Smith Fellowship.
