The James Buchanan Fellowship is a prestigious one-year program designed to introduce early-career scholars to the Austrian, Virginia, and Bloomington schools of political economy. Hosted by the Mercatus Center, the fellowship provides a structured intellectual environment for scholars seeking to deepen their engagement with institutional analysis and mainline political economy. Applications for the 2026–2027 academic year are due April 15, 2026. Review begins after the deadline, with decisions anticipated approximately ten to twelve weeks later. Fellowship Award and Financial Benefits The fellowship offers a total award of up to $8,000. This package is structured to ensure full participation and includes: A financial stipend All required reading materials Travel and lodging expenses for in-person colloquia In addition to the monetary award, fellows gain access to a vibrant academic network and become eligible for additional conference and research funding opportunities through Mercatus initiatives. Purpose and Intellectual Focus The James Buchanan Fellowship supports scholars from any discipline who have recently completed their doctoral studies and are interested in exploring foundational ideas in political economy. The program encourages rigorous engagement with the work of Adam Smith and the traditions of the Austrian, Virginia, and Bloomington schools. Named in honor of Nobel laureate James M. Buchanan, the fellowship reflects Buchanan’s emphasis on constitutional political economy and the institutional rules that govern collective action. Fellows explore how economic, political, and social systems are shaped by governance structures, incentives, and institutional constraints. The program connects classical political economy to contemporary research questions, encouraging scholars to apply enduring principles to modern challenges in the social sciences and related disciplines. Program Structure and Engagement The fellowship combines in-person and virtual programming throughout the academic year. Participants: Spend two weekends in residence at George Mason University in Fairfax, Virginia Participate in three additional virtual sessions Each colloquium is structured around curated readings and includes seminar-style discussions, faculty lectures, and collaborative dialogue. Formal meals and hospitality are integral to the experience, reinforcing the program’s commitment to immersive engagement and professional relationship-building. Attendance at all scheduled sessions, including meals, is expected to ensure full participation in the scholarly community. Eligibility Requirements To qualify for the James Buchanan Fellowship, applicants must: Have completed a doctoral degree within the last six years Hold an academic position at an accredited university and/or a research position at an organization dedicated to in-depth research in the social sciences or related scientific fields The fellowship is interdisciplinary and not restricted to economics or political science. Scholars from diverse academic backgrounds are encouraged to apply if their work engages meaningfully with political economy. Applicants currently on the academic job market remain eligible, provided they meet the doctoral completion requirement. Professional and Scholarly Advantages Participation in the James Buchanan Fellowship provides more than financial support. Fellows become part of a broader intellectual community of Mercatus scholars, alumni, and research affiliates engaged in contemporary political economy. Key professional benefits include: Expanded interdisciplinary networks Opportunities for mentorship and collaboration Access to research and conference funding Long-term integration into the Mercatus academic community Through structured discussions and guided readings, fellows refine their research agendas and strengthen their analytical frameworks. The program fosters critical thinking and encourages scholarly dialogue across disciplines. Why This Fellowship Matters The James Buchanan Fellowship offers early-career scholars a rare opportunity to engage deeply with institutional and constitutional political economy during a formative stage of their careers. By examining how governance systems and rules influence economic and social coordination, fellows develop analytical tools that enhance both research and teaching. With its combination of financial support, immersive colloquia, and sustained academic networking, the fellowship positions scholars to contribute meaningfully to ongoing debates in economics, political science, philosophy, and related fields. For academics interested in the legacy of Buchanan and the broader traditions of mainline political economy, this program represents a distinctive and intellectually rigorous opportunity. LEARN MORE & APPLY For more opportunities such as these please follow us on Facebook, Instagram , WhatsApp, Twitter, LinkedIn and Telegram Disclaimer: Global South Opportunities (GSO) is not the organization that is offering this fellowship. For any inquiries, please contact the responsible organization directly. Please do not send your applications to GSO, as we are unable to process them. Due to the high volume of emails we receive daily, we may not be able to respond to all inquiries. Thank you for your understanding.