CSWEP: Summer Economics Fellows Program: Sponsors
Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis' Research Department has long been considered one of the best economic research institutions in the country. Its staff includes a Nobel Laureate and numerous other Ph.D. economists with diverse academic and private-sector experience. The primary missions of the department are to conduct top-quality independent research and to provide policy analysis and support for the bank's president.
The department's consultant and visitor programs bring in leading economists from around the world on a regular basis. The department also collaborates closely with the University of Minnesota.
The Minneapolis Fed is responsible for the 9th Federal Reserve District, which includes Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin, and the Upper Peninsula of Michigan. The bank's primary responsibilities include monetary policy, financial stability, banking supervision, payment services, and community engagement. One of the many business lines that serve these critical functions is the Research Department. Economists in the department have interests including monetary economics, business cycles, international macroeconomics, applied microeconomics, household finance, and financial regulation.
For more information about the department, please visit:
Federal Reserve Bank of St. Louis
As one of the 12 regional Reserve banks in the Federal Reserve System, the St. Louis Fed is central to America's economy. The St. Louis Bank's five most-critical functions can be described as follows:
- to promote stable prices and economic growth;
- to foster a sound financial system;
- to provide payment services to financial institutions;
- to support the U.S. Treasury's financial operations; and
- to advance economic knowledge, community development and fair access to credit.
The Research Division's vision is to be recognized among the top research departments by other Federal Reserve Research divisions, leading researchers outside the System, and within the Bank. To achieve this vision, the Research Division strives to:
- contribute to the quality of monetary and banking policies;
- expand the frontier of knowledge in the areas of money and banking, macroeconomics, international economics and regional economics;
- educate our audiences about current economic issues, especially as they relate to money and banking policies; and
- provide premier information services.
More information about the St. Louis Fed Research Division can be found at http://research.stlouisfed.org/.
Federal Trade Commission
The Bureau of Economics helps the Federal Trade Commission evaluate the economic impact of its actions. To do so, the Bureau provides guidance and support to the agency’s antitrust and consumer protection activities. In the antitrust area, the Bureau participates in the investigation of alleged anticompetitive acts or practices and provides advice on the economic merits of alternative antitrust actions. If an enforcement action is initiated, the Bureau integrates economic analysis into the proceeding (sometimes providing the expert witness at trial) and works with the Bureau of Competition to devise appropriate remedies. In the consumer protection area, the Bureau provides economic support and analysis of potential Commission actions in both cases and rulemakings handled by the Bureau of Consumer Protection. Bureau economists also provide analysis of appropriate penalty levels to deter activity that harms consumers. The Bureau also conducts economic analyses of various markets and industries.
This work focuses on the economic effects of regulation and on issues that are of importance to antitrust and consumer protection law enforcement.
Many of these analyses are published as Economic Reports. For more information on the Federal Trade Commission’s Bureau of Economics, visit:
- Objective, nonpartisan, and timely analyses to aid in economic and budgetary decisions on the wide array of programs covered by the federal budget, and
- The information and estimates required for the Congressional budget process.
The agency is composed primarily of economists and public policy analysts. About three-quarters of its professional staff hold advanced degrees, mostly in economics or public policy. CBO seeks professional staff with excellent academic backgrounds and experience in macroeconomics, public finance, health economics, demography, labor economics, financial economics, environmental and resource economics, industrial organization, defense economics, and public-policy analysis. Most staff have graduate degrees, many have considerable experience in a relevant field, and all assume major responsibilities--beginning early in their careers at CBO. CBO also has a paid summer internship program that is geared toward graduate students in the above specialty areas. Those interested should apply review information at www.cbo.gov/employment/intern.cfm or they can submit an application online at https://careers.cbo.gov/ext/detail.asp?jobid=cbo2012-INTERNSHIPS.
Federal Reserve Bank of New York
The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster the safety, soundness and vitality of our economic and financial systems. The New York Fed oversees the Second Federal Reserve District, which includes New York state, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. Though it serves a geographically small area compared with those of other Federal Reserve Banks, the New York Fed is the largest Reserve Bank in terms of assets and volume of activity. In addition to responsibilities the New York Fed shares in common with the other Reserve Banks, the New York Fed has several unique responsibilities, including conducting open market operations, intervening in foreign exchange markets, and storing monetary gold for foreign central banks, governments and international agencies. Foremost among its functions is the implementation of monetary policy, one of the three missions of the New York Fed. The other two are supervision and regulation, and international operations. We provide a wide range of payment services for financial institutions and the U.S. government. We also help formulate and execute policies for the oversight of U.S. and international payment systems. In addition, we foster innovation in payment systems and conduct research on topical payment issues. Information about the current activities of the Research Group of the NY Fed are available online at http://www.newyorkfed.org/research/index.html.
Economists at the Census Bureau have the unparalleled opportunity to conduct cutting-edge economic research using internal microdata to examine questions that cannot be addressed by aggregate statistics or public microdata. Due to the Census Bureau's vast data collection and information dissemination efforts, the areas for potential research at the Census Bureau have both breadth and depth. In addition to conducting the Decennial Census, the Census Bureau also collects demographic information through surveys such as the American Community Survey and the American Housing Survey. The Census Bureau collects detailed business information through the Economic Census and detailed surveys covering such areas as R&D activities, information technology, and the characteristics of business owners. Economists using household data research topics such as housing, income, poverty, program participation, disability, health insurance, labor force, family structure, child care, well-being, education, and migration. Economists using business data research topics including, productivity dynamics, firm behavior, technological change, industrial location, entrepreneurship, labor, trade, health care, energy, urban and regional economics, and the environment. The Census Bureau supports a dynamic, engaging research environment through internal seminar series, informal brown bag lunches, working paper series, student internships and mentorships, and the Research Data Center network. Examples of research conducted at the Census Bureau and descriptions of the Bureau vast array of data can be found at http://www.census.gov/ces/index.html.
Bureau of Economic Analysis
The Bureau of Economic Analysis, an agency of the Department of Commerce, is one of the world's leading statistical agencies. BEA produces some of the most closely watched economic statistics that influence the decisions made by government officials, business people, households, and individuals. BEA's economic statistics, which provide a comprehensive, up-to-date picture of the U.S. economy, are key ingredients in critical decisions affecting monetary policy, tax and budget projections, and business investment plans. The cornerstone of BEA's statistics is the national income and product accounts (NIPAs), which feature the estimates of gross domestic product (GDP) and related measures.
As a leader in the development of new and innovative approaches to economic measurement, BEA supports research that can further its mission which is, broadly speaking, to provide timely, reliable and comprehensive estimates of measured economic activity. Researchers at BEA are involved in a variety of projects; information on research at BEA can be found on our website: www.bea.gov/research.
Bureau of Labor Statistics
The Bureau of Labor Statistics is the principal fact-finding agency for the U.S. government in the broad filed of labor economics and statistics. The BLS is an independent national statistical agency that collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other Federal agencies, State and local governments, business, and labor. BLS produces data on the topics of inflation and prices, employment, unemployment, pay and benefits, spending and time use, productivity, and workplace injuries, primarily for the U.S. economy, and in some cases, internationally (see http://www.bls.gov/bls/proghome.htm for more information). PhD researchers use BLS data to conduct economic analysis and to improve the quality of data collected and produced. An overview of BLS research programs can be seen at this link: http://www.bls.gov/bls/research.htm.
Federal Reserve Bank of Atlanta
The Federal Reserve System consists of twelve Reserve Banks located around the country and the Board of Governors in Washington D.C. The Atlanta Fed is the Reserve Bank for the 6th district of the Federal Reserve System, responsible for the territory covering Alabama, Florida, Georgia and parts of Louisiana, Mississippi, and Tennessee. One of the primary roles of each Reserve Bank is to guide monetary policy carried out by the Federal Open Market Committee (FOMC). To carry out this responsibility, the Research Department of the Atlanta Fed employs about 25 Ph.D. economists and financial economists. The Research Department also houses the Center for Quantitative Economic Research; the Americas Center; the Center on Financial Innovation and Financial Stability; and the Center for Labor, Education, and Health Policy Studies. Each of these Centers is designed to focus the research activities of economists at the Fed and within the community around areas of expertise that reside in the Research Department. Further information about the Atlanta Fed's research department and the type of research in which the economists engage can be found online (http://www.frbatlanta.org/research/). The research productivity of the economists at the Atlanta Fed consistently places it at the top of the institutional rankings of research institutions in Georgia by RePEc.
Economic Research Service
The Economic Research Service (ERS) is a primary source of economic information and research in the U.S. Department of Agriculture. With nearly 300 economists, most of whom have Ph.D.s, ERS is USDA’s think tank, and conducts a research program to inform public and private decision-making on economic and policy issues involving food, farming, natural resources, and rural development. In over 40 years of serving its constituents, ERS has made noteworthy contributions to agricultural, environmental, and rural development policy in the United States. CSWEP fellows will have the opportunity to contribute to an exciting research agenda and have access to unique primary data, as well as a vast library of secondary data and software. CSWEP applicants to the Economic Research Service should have a solid foundation in economic theory, strong quantitative skills, and an interest in applied policy-relevant research that compliments or contributes to the ERS program of work. Current Administration policy-relevant research priorities include climate change, food safety, health and nutrition—particularly childhood obesity, international food security, and rural economic development. We cannot hire any non-U.S. citizens. See the ERS website for more information about the program of work www.ers.usda.gov.
Federal Reserve Bank of Kansas City – Economic Research Department
The Economic Research Department of the Federal Reserve Bank of Kansas City conducts innovative economic research on monetary policy and other issues of importance to the Bank and the Federal Reserve System and communicates the results of this research to policymakers, other researchers, and the general public. We are willing to consider summer fellows at the stage of writing a dissertation in the fields of macroeconomics, banking, or regional economics, or in fields relating to payments system research. The Summer Fellow will have the opportunity to interact with professionals in a stimulating research environment and to attend the Department’s invited seminar series. Students conducting computationally intensive research will find particularly attractive the availability of high-performance computer facilities. For more detailed information on the Research Department and the Federal Reserve Bank of Kansas City, please visit http://www.kansascityfed.org/research. Applicants should take care of visa requirements.
The Brookings Institute
The Economic Studies program at the Brookings Institution addresses current and emerging policy issues facing the United States and the rest of the world. Our aim is to increase understanding of how the economy works and what can be done to make it work better. We produce analysis of current developments, conduct longer-term research, engage with policymakers, and convene meetings that bring together experts and stakeholders on relevant issues. Learn more about our researchers and activities at this link: http://www.brookings.edu/economics.aspx.
International Monetary Fund
The IMF offers internships to approximately 40 graduate students each summer to carry out a research project under the supervision of an experienced economist. The internship lasts 10-13 weeks and is undertaken sometime between May and October, during a period convenient both to the intern and the host department.
Summary of Duties and Responsibilities
Interns prepare a paper outlining the results of their research, which they may be asked to present to the staff of their department at the end of the assignment. Papers of high standard may be published internally.
Projects assigned to interns differ from year-to-year depending on the departments' work program. Research covers a broad spectrum of economic issues, as evidenced by the following topics previously addressed:
--Banking Systems Efficiency and Financial Development in Sub-Saharan Africa;
--Long-run Global Imbalances;
--How does Monetary Policy affect the Chinese;
--Nexus Between Fiscal and Monetary Policy and How It Could be Affected by Structural and Institutional Reform;
--Optimal Savings of Oil Revenue: Theory and Evidence.
The internships are intended primarily for potential Economist Program candidates, and therefore the IMF is looking for the same general background. Intern candidates:
- should be within one or two years of completing their Ph.D. in Macroeconomics or a related field,
- must be in student status, i.e., must be returning to the university after the internship,
- should be ideally below the age of 30,
- have an excellent command of English, and
- must possess strong quantitative and computer skills.
Advanced training in macroeconomics (successful candidates are typically in their third or fourth year of their Ph.D. program)
Mathematica’s summer fellowship program provides students enrolled in a master’s or Ph.D. program in public policy or a social science an opportunity to build their research skills in a nonacademic environment. Summer fellows pursue independent research on a policy issue of relevance to the economic and social problems of minority groups and individuals with disabilities. Fellows receive a stipend of $6,000 for full participation ($2,000 per month for the months of June through August), plus $500 toward project-related expenses. Ctrl+Click on “2009 Summer Fellows” to see the work done by last year’s recipients. Opportunities are available in any of the following locations: Princeton, NJ, Ann Arbor, MI, Cambridge, MA, Chicago, IL, Oakland, CA, and Washington, DC. Applicants should submit the following items for consideration by March 12, 2010 to Human Resources, Mathematica Policy Research, P.O. Box 2393, Princeton, NJ 08543-2393:
- A resume
- A proposal (minimum 2,000 words) for the research project you hope to pursue, including a clear statement of the research question, its relevance to social policy affecting minorities, and the steps necessary to complete the project during the fellowship period
- Undergraduate and graduate transcripts (unofficial are acceptable)
- Two letters of recommendation, including one from a sponsoring faculty member
Federal Reserve Bank of Chicago
The Chicago Fed is the Reserve Bank for the 7th district of the Federal Reserve System, responsible for the territory covering all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin. The Research Department and the Financial Markets Group at the Chicago Fed employs about 35 Ph.D. economists and financial economists. In addition to doing analysis to inform monetary policy decisions, the economists at the Chicago Fed work on a wide variety of research projects. We are particularly interested in summer fellows who are either junior faculty or working on their dissertations who will have significant research synergies with the economists on staff. Further information about the Chicago Fed and the type of research in which the economists engage can be found online at http://www.chicagofed.org/webpages/research/index.cfm.
Federal Reserve Bank of Boston
As part of the nation’s central bank, the Federal Reserve Bank of Boston promotes price stability and sustainable growth in the nation and the New England region. In support of these functions, Research Department economists provide current economic analysis and policy advice to Federal Reserve decisionmakers. They also conduct innovative research on a wide range of economic, financial, and behavioral topics that aims to improve our understanding of the U.S. and global economies and to encourage better policy outcomes. Through presentations, publications, and advisory activities, they share their research and expertise with policymakers, fellow economists, and the public at large.
Federal Reserve Bank of Richmond
As the nation’s central bank, the Federal Reserve sets monetary policy, supervises and regulates member financial institutions and provides an array of financial services. The Richmond Fed contributes to the formulation of national monetary policy, gathers and analyzes regional economic data, and supervises and regulates financial institutions headquartered here. We also process currency and provide financial services to the U.S. Treasury.
The Research Department at the Richmond Fed provides analysis and advice to policymakers, conducts research to improve policy decisions over the long-run by contributing to the advance of economic sciences and educates the public. Research is focused on consumer finance, economic growth and business cycles, financial markets and institutions, inflation and monetary policy, labor markets, monetary history, payments policy and regional economics. More information about the Richmond Fed’s research department can be found at: http://www.richmondfed.org/research.
The Urban Institute is a nonprofit research organization, committed to elevating the debate on social and economic policy issues, and our mission is to open minds, shape decisions and offer solutions through our research.
Founded in 1968 to understand the problems facing America’s cities and assess the programs of the War on Poverty, the Urban Institute has brought decades of objective analysis and expertise to policy debates—in city halls and state houses, Congress and the White House, and emerging democracies around the world. Today, our research portfolio ranges from the social safety net to health and tax policies; the well-being of families and neighborhoods; and trends in work, earnings, and wealth-building. Our scholars have a distinguished track record of turning evidence into solutions.
Urban’s multidisciplinary professional staff of roughly 350 includes researchers and analysts trained in economics, public policy and administration, political science, urban planning, business administration, education, sociology, law, engineering, computer sciences, and other fields. We conduct sophisticated research to understand and solve real-world challenges in communities; at city, state, and national levels; and across a rapidly urbanizing world. Our scholars blend academic rigor with on-the-ground engagement, teaming with policymakers, community leaders, practitioners, and the private sector to diagnose problems and find solutions.