For more than 50 years the Institute has sponsored a variety of fellowship programs that provide direct training and financial support to advanced students of economics.

The Institute awards a dozen or more Summer Fellowships each year to students who will be entering a doctoral program in economics or affiliated program (e.g., law and economics, economic history, etc.). We also consider applications from those students enrolled in such programs for no more than two years. The program is not designed for students wishing to pursue graduate work in a business school program (e.g. MBA).

Summer Fellows come to the Institute for a four-week period of study and are provided with room and board plus a $300 per week stipend. Those who demonstrate exceptional potential are awarded Fellowships in-absentia if they are enrolled in an accredited graduate-degree program in economics for the succeeding academic year. In-absentia Fellows receive full or partial payment of tuition or a monthly stipend for all or part of the academic year, or both. During the past 5 years, in-absentia awards have averaged about $5,000.

Students choose between two four-week sessions. Summer Fellows participate in intensive seminars in the Methodology of Economics, Monetary Economics, Business-Cycle analysis and forecasting, property rights, and other topics.

The seminar format varies according to the the instructor. However, readings in all seminars are substantial, and written work is required. Seminar assignments generally occupy the full attention of first-year Fellows. Guest lectures given by Visiting Senior Fellows complement the scheduled seminars.

We view the summer program as an opportunity to share with students of economics some views they may not otherwise encounter and, in the process, to subject our ideas to the criticisms of the Fellows.

Fellows keep the same hours as the Institute staff. Summer Fellows, the Institute's professional staff, and the investment advisors of American Investment Services, Inc. enjoy regular opportunities to engage in informal discussion.

Dates for 2008