James Buchanan Fellowship 2025 in USA: Overview

The James Buchanan Fellowship, hosted by the Mercatus Center at George Mason University, is a fully-funded fellowship program designed for early-career scholars. The James Buchanan Fellowship is a one-year, competitive fellowship program awarded to scholars in any discipline who have recently graduated from their doctoral programs. James Buchanan Fellows attend three-weekend sessions at George Mason University in Fairfax, Virginia, during the academic year. They engage in discussions on mainline political economy, participate in lectures, share formal meals, and enjoy hospitality. Each colloquium focuses on specific readings and features interactive sessions.

The James Buchanan Fellowship aims to inspire early-career scholars to explore and critically analyze ideas in the political economy of Adam Smith and the Austrian, Virginia, and Bloomington schools. The Fellowship covers all the expenses including Airfare, Stipend, and Housing. George Mason University ranked #301-400 globally by the Times Higher Education (THE) World University Rankings 2024. Fellows participate in residential colloquia, building a network of researchers. The applications for the 2025-2026 academic year are due April 15, 2025.

Host Institution

• Name: Mercatus Center at George Mason University
• Location: Fairfax, Virginia, USA
• Programs: The fellowship involves focused colloquia and professional networking.
• Duration: One academic year (includes two weekends and one week of on-campus events).

Study Areas for the James Buchanan Fellowship

The James Buchanan Fellowship focuses on the interdisciplinary field of mainline political economy, covering:

1. Classical Political Economy
   • Study of foundational ideas by thinkers such as Adam Smith and John Stuart Mill.
2. Virginia School of Political Economy
   • Emphasis on public choice theory and constitutional economics, inspired by James Buchanan’s work.
3. Austrian Economics
   • Exploration of market processes, entrepreneurship, and the role of knowledge in economic decision-making.
4. Bloomington School of Institutional Analysis
   • Focus on governance and institutional frameworks influenced by Elinor Ostrom’s research.
5. Economic Methodology and History of Economic Thought
   • Analysis of the evolution and methodological debates in economics.

Fellows apply these perspectives to modern policy and societal challenges through research and discussions. For more details, refer to the official Mercatus Center page.

James Buchanan Fellowship Benefits

• Stipend: The total award of up to $8,000
• A stipend
• All required reading materials
• Travel and lodging to attend colloquia hosted by the Mercatus Center

Benefits Not Included

• Health insurance
• Visa fees

Eligibility Criteria of James Buchanan Fellowship

• Applicants must have a PhD degree.
• Scholars must have completed accredited PhD programs within the last six years.
• Scholars should hold academic positions at universities or research roles in social sciences or related fields.
• Scholars need to attend three-weekend colloquia during the academic year.
• Scholars must have research or teaching interests that benefit from exploring key works in political economy.
• They encourage early-career scholars with a PhD in any discipline to apply if they want to enhance their research or teaching by exploring key political economy writings.
• Scholars of any nationality who hold or will hold an academic position, such as teaching, research, or academic leadership, at a university or research center during their participation year can apply for the James Buchanan Fellowship.

Required Documents

• A 1-2 page cover letter explaining:
  • your graduate school career to date,
  • your academic career goals,
  • your research interests and current projects,
  • your familiarity with the thinkers associated with the Austrian, Virginia, and Bloomington schools of political economy, and
  • what you hope to get out of the program.
• A current resume/CV
• A list of resent academic publications, if any
• A few short answer questions
• simplify these line with active voice

Application Process for the James Buchanan Fellowship 2025-26

1. Visit the Official Application Portal
2. Complete the Online Form
3. Prepare Required Documents
4. Submit Application
5. Post-Submission

Tips for a Successful Application

• Clearly articulate your academic career goals and research alignment with fellowship themes.
• Highlight familiarity with political economy and its contemporary applications.
• Ensure strong writing quality in your application materials to stand out.

Monthly Living Expenses for International Scholars

Estimated monthly expenses in Fairfax, Virginia:

• Housing: $1,200–$1,800
• Food: $300–$500
• Transportation: $100–$200
• Miscellaneous: $200–$300

Why Choose This Opportunity?

The fellowship offers an unparalleled platform to explore cutting-edge research in political economy, engage with top scholars, and access substantial professional development opportunities, along with financial support

Frequently Asked Questions

1. Can non-economics PhD graduates apply?
   Yes, scholars from any discipline with an interest in political economy are welcome.
2. What does the stipend cover?
   The stipend can be used at the scholar’s discretion for research or personal expenses.
3. Are travel costs fully covered?
   Yes, travel and lodging for colloquia are included.
4. Can international scholars apply?
   Yes, the fellowship is open globally.
5. Is the fellowship renewable?
   No, it is a one-year program

Official Link for More Details

Visit the Mercatus Center James Buchanan Fellowship page for further information and application guidelines​