The Mercatus PhD Fellowship is a competitive, full-time fellowship program for students pursuing a doctoral degree in economics at George Mason University. PhD Fellows take courses in market process economics, public choice, and institutional analysis and work on projects that use these lenses to understand global prosperity and social change. The total award of up to $200,000 (over five years) includes a monthly stipend, full tuition support (nine credits per semester), and experience as a research assistant working closely with Mercatus-affiliated Mason faculty. Acceptance into the fellowship program is dependent on acceptance into the Ph.D. program in economics at George Mason University.