Deadline: 15-Mar-2026
The Frédéric Bastiat Fellowship Program by the Mercatus Center offers graduate students worldwide a funded opportunity to study political economy through the Austrian, Virginia, and Bloomington schools of thought. Fellows participate in expert-led colloquia, receive up to $5,000 in support, and join a global academic network focused on policy-relevant research.
Fully Funded Political Economy Fellowship for Graduate Students
Program Overview
The Frédéric Bastiat Fellowship Program, offered by the Mercatus Center, is an international academic fellowship designed for graduate students interested in political economy and public policy analysis.
The fellowship introduces participants to three influential schools of political economy—Austrian, Virginia, and Bloomington—and demonstrates how these frameworks inform contemporary policy debates, applied research, and real-world governance challenges.
Purpose and Academic Focus
The fellowship aims to bridge theory and practice by helping students understand how political economy frameworks shape policy analysis and institutional design.
Key academic foundations explored in the program include:
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Austrian School of economics
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Virginia School of political economy
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Bloomington School of institutional analysis
These schools provide tools to analyze how institutions, incentives, and knowledge affect economic and social outcomes.
How the Fellowship Works
Colloquia and Scholarly Engagement
Fellows participate in a structured series of colloquia, where they:
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Engage in seminar-style discussions
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Interact directly with Mercatus Center scholars
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Explore policy-relevant academic research
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Discuss real-world applications of political economy
The discussions are led by researchers actively working on contemporary policy issues.
Applied Policy Topics Covered
The fellowship applies political economy frameworks to a wide range of topics, including:
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Entrepreneurship and innovation
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Technological change and emerging technologies
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Public health and regulation
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Immigration policy
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Natural disasters and crisis governance
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Military conflict and national security
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Federal and state fiscal policy
This applied focus helps fellows connect abstract theory to practical policy challenges.
Fellowship Benefits and Financial Support
Funding and Coverage
The Frédéric Bastiat Fellowship provides up to USD 5,000 per fellow.
The award includes:
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A stipend
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All required program readings
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Travel and lodging for in-person colloquia hosted by the Mercatus Center
This comprehensive support ensures fellows can fully participate without financial barriers.
Who Is Eligible?
Eligible Applicants
Applicants must meet the following criteria:
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Be currently enrolled in a graduate program
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Be pursuing a:
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Master’s degree
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Juris Doctor (JD)
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Doctoral (PhD or equivalent) degree
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Be enrolled at any university worldwide
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Be from any academic discipline
Fields of Study Commonly Represented
While open to all disciplines, the fellowship commonly attracts students from:
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Economics
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Law
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Political science
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Public policy
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Related social science and interdisciplinary fields
No prior specialization in political economy is required.
Why the Fellowship Matters
The Frédéric Bastiat Fellowship offers several long-term academic and professional benefits:
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Deep understanding of influential political economy traditions
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Exposure to policy-relevant research methodologies
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Direct mentorship from leading scholars
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Preparation for careers in academia, policy analysis, and research institutions
The program equips fellows with analytical tools that remain relevant across sectors and disciplines.
Academic Network and Long-Term Engagement
Fellows become part of a broader Mercatus Center academic network, which includes:
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Current graduate students
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Fellowship alumni
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Faculty researchers and policy scholars
This network supports ongoing intellectual exchange, collaboration, and professional development beyond the fellowship year.
How to Apply
General Application Process
Applicants typically need to:
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Confirm eligibility as a current graduate student
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Prepare application materials as specified by the Mercatus Center
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Demonstrate interest in political economy and policy analysis
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Submit the application by the published deadline
Specific deadlines and required documents are announced by the Mercatus Center for each application cycle.
Common Tips for Applicants
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Clearly explain your interest in political economy
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Show how the fellowship aligns with your academic or career goals
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Highlight curiosity about applied policy questions
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Emphasize openness to interdisciplinary discussion
Strong applications demonstrate both intellectual engagement and a willingness to learn from diverse perspectives.
Frequently Asked Questions (FAQ)
Who can apply for the Frédéric Bastiat Fellowship?
Any graduate student enrolled in a master’s, JD, or doctoral program at any university worldwide.
Is the fellowship limited to economics students?
No. The program is open to students from all disciplines.
How much funding does the fellowship provide?
Up to USD 5,000, including stipend, readings, and travel and lodging for colloquia.
What are the Austrian, Virginia, and Bloomington schools?
They are traditions in political economy that focus on institutions, incentives, governance, and the limits of centralized decision-making.
Is prior knowledge of political economy required?
No. The program is designed to introduce students to these frameworks.
Do fellows have to travel?
Yes. Travel and lodging for colloquia are covered by the fellowship.
What happens after the fellowship ends?
Fellows remain part of the Mercatus academic network for continued engagement and collaboration.
Conclusion
The Frédéric Bastiat Fellowship Program is a high-impact opportunity for graduate students seeking rigorous training in political economy and applied policy analysis. With generous funding, expert-led colloquia, and access to a global scholarly network, the fellowship provides lasting value for students interested in understanding and shaping real-world policy outcomes.
For more information, visit Mercatus Center.
