Summer Economics Fellows Program Sponsors
Board of Governors of the Federal Reserve
Bureau of Economic Analysis
Bureau of Labor Statistics
Federal Deposit Insurance Corporation, Center for Financial Research
Federal Housing Finance Agency
Federal Reserve Bank of Atlanta
Federal Reserve Bank of Boston
Federal Reserve Bank of Chicago
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Dallas
Federal Reserve Bank of Kansas City
Federal Reserve Bank of Minneapolis
Federal Reserve Bank of New York
Federal Reserve Bank of Philadelphia
Federal Reserve Bank of Richmond
Federal Reserve Bank of St. Louis
Federal Reserve Bank of San Francisco
Resources for the Future
The Washington Center for Equitable Growth
Federal Reserve Board As the central bank of the United States, the Federal Reserve's mission is to provide the nation with a safer, more flexible, and more stable monetary and financial system. Economists at the Federal Reserve Board conduct cutting edge research on a broad range of topics in economics and finance and contribute substantive policy analyses used by the Board of Governors of the Federal Reserve and the Federal Open Market Committee. In addition to presenting their research to policymakers, Board economists share their research at academic conferences and publish it in peer-reviewed scholarly journals and other outlets. The Federal Reserve Board, located in Washington, D.C., employs over 400 Ph.D. economists, who represent an exceptionally diverse range of interests and specific areas of expertise. Our economists have a strong grounding in economic theory and quantitative methods, a keen interest in applying their knowledge to addressing real-world issues, the ability to communicate clearly, and impressive intellectual curiosity, personal initiative, and collegiality. For more information see the Careers page of the Federal Reserve Board.
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.
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 the Bureau of Labor Statistics site for more information). PhD researchers use BLS data to conduct economic analysis and to improve the quality of data collected and produced. See an overview of BLS research programs for more information.
Census Bureau 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 here.
Federal Deposit Insurance Corporation, Center for Financial Research The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by: insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, making large and complex financial institutions resolvable, and managing receiverships. Economists in the Center for Financial Research (CFR) help the FDIC by conducting and publishing empirical and theoretical research on the banking industry and bank regulation. They also develop statistical and financial models to support FDIC operations. Topics studied by researchers include: bank capital, bank supervision, banking industry structure, deposit insurance, consumer finance, executive compensation, lending, and systemic risk. These topics in banking and finance intersect with a range of fields, such as macroeconomics, industrial organization, labor economics, and economic history. Researchers in CFR apply a range of empirical methods including machine learning and natural language processing, and make use of both public and restricted-access data, including regulatory filings, surveys, examination findings, and data on the operations of failed banks. The research staff works together on projects and meets regularly, along with visiting scholars, for internal and external presentations. Please visit our website for more information.
Federal Housing Finance Agency The Federal Housing Finance Agency (FHFA) is an independent federal agency established by the Housing and Economic Recovery Act of 2008 to build a better secondary mortgage market. FHFA is currently responsible for the oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, which includes the 11 Banks. FHFA’s mission is to ensure the safety and soundness of those regulated entities so that they serve as a reliable source of liquidity and funding for housing finance and community investments. FHFA employs economists, financial analysts, and policy experts from a diverse set of backgrounds who work in a collegial and collaborative environment. FHFA economists conduct research on a range of topics including affordability, appraisal practices, house price dynamics, land valuation, market trends, mortgage lending and performance activity, property assessment and taxation, real estate listings behavior, risk management, and urban development. Findings can help inform public policy and are often presented at industry or academic conferences. The agency’s research has won national awards, been published in academic and industry journals, and has formed the basis for stories in leading news sources. Further information about the FHFA and examples of recent working papers can be found on our website.
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 Human Capital 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 here. The research productivity of the economists at the Atlanta Fed consistently places it among the top ranked research institutions in Georgia by RePEc.
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 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 here.
Federal Reserve Bank of Cleveland The mission of the Research Department of the Federal Reserve Bank of Cleveland is to produce economic research and provide policy analysis and advice. The Research Department conducts high-quality academic research, makes research-informed policy contributions, and supports the Bank and Federal Reserve System through the production of the Economic Commentary series, contributions to the Bank President’s speeches, and participation in Federal Reserve System initiatives. The Research Department helps to support the monetary policymaking process by providing the Bank president analysis and advice on current and historic economic conditions based on their academic research and expertise gained in macroeconomic policy, macroeconomic forecasting, applied microeconomics, banking and finance, and regional conditions.
The Research Department informs these policy contributions with data gathered through outreach and meetings with the District’s Business Advisory Councils and directors. In addition, the Research Department interviews representatives from Fourth District businesses and includes the insights gained in the Board of Governors’ Beige Book (officially known as the Summary of Commentary on Current Economic Conditions by Federal Reserve District). The Beige Book is published eight times a year prior to meetings of the Federal Open Market Committee (FOMC) to assist policy makers during their deliberations. Research also provides information to the general public through presentations on economic conditions, and indicators and data published on the Bank’s external website.
Federal Reserve Bank of Dallas The Dallas Fed covers the 11th district of the Federal Reserve System, which includes Texas and portions of Louisiana and New Mexico. Economists at the Dallas Fed conduct innovative research on a wide variety of policy-relevant topics as well as analyzing current economic conditions and helping the public better understand economic issues. The Summer Fellow will have the opportunity to interact with members of the Research Department, attend seminars, and present their own work to departmental staff. We are especially interested in applicants whose work overlaps with members of the department and/or is strongly related to monetary policy. For further information on the Research Department of the Dallas Fed, please visit our website.
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, monetary economics, international macroeconomics, labor economics, finance, banking, or payment systems. 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 the website. Applicants should take care of visa requirements.
Federal Reserve Bank of Minneapolis 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 Division.
The Federal Reserve Bank of Minneapolis' Research Division has long been considered one of the best economic research institutions in the country. The division is made up of three main areas: Research Department, Economic Analysis, and the Opportunity and Inclusive Growth Institute (Institute). 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, to provide policy analysis and support for the bank's president, and conduct and promote research that will increase economic opportunity and inclusive growth. Economists in the department have interests including monetary economics, business cycles, international macroeconomics, applied microeconomics, household finance, applied microeconomics, wealth inequality, and financial regulation. The division’s consultant and visitor programs bring in leading economists from around the world on a regular basis. The division also collaborates closely with the University of Minnesota. The Research Division also supports the bank's Center for Indian Country Development and its mission of helping self-governing communities of American Indians in the United States attain their economic development goals. This year, the division is seeking a summer fellow who is conducting research that promotes economic opportunity. For more information about the department, please visit the Federal Reserve Bank of Minneapolis website.
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 the website.
Federal Reserve Bank of Philadelphia The Philadelphia Fed covers the third district of the Federal Reserve System, which includes eastern Pennsylvania, southern New Jersey and Delaware. Economists at the Philadelphia Fed conduct innovative research on a wide variety of policy-relevant topics as well as analyzing current economic conditions and helping the public better understand economic issues. Further information on the scope of our research can be found here. The Summer Fellow will have the opportunity to interact with members of the Research Department, attend seminars, and present their own work to departmental staff. We are especially interested in applicants who are currently working on their PhD thesis and whose work overlaps with members of the department.
Federal Reserve Bank of Richmond As part of the Federal Reserve System, the Federal Reserve Bank of Richmond contributes to the formulation of national monetary policy, supervises and regulates financial institutions headquartered in the 5th Federal Reserve District, and provides some financial services to financial institutions and the U.S. Treasury. Economists in the Research Department at the Richmond Fed conduct primary research aimed at publication in top academic journals. The research conducted in the Department covers a range of topics including financial markets and institutions, inflation and monetary policy, determinants of business cycles, labor markets, payment policy, contract theory, microeconomics of firm pricing decisions, consumer finance, sectoral dynamics, economic history, and regional economics. This research allows economists to inform policy decisions over the long-run, provide analysis and advice to policymakers, and educate the public on key issues. More information about the Richmond Fed's Research Department can be found here.
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 mission can be described as follows:
- Pursuing maximum employment, stable prices and moderate long-term interest rates;
- Ensuring safety and soundness of the nation’s banking and financial system and protecting the credit rights of consumers;
- Maintaining stability of the financial system and containing systemic risk; and
- Providing financial services to depository institutions, the U.S. government and foreign official institutions.
The Research Division’s vision is to shape the debate on key economic issues through world-class research and active engagement in the economics profession. To achieve this vision the Research Division strives to:
- Publish high-quality economic research in leading journals and promote the visibility of the research
- Distribute sound economic analyses of important public policy issues facing the region and the nation to a broad range of audiences.
- Coordinate and sponsor value-added conferences of economic thought leaders.
- Emphasize the active engagement of economists in the economics profession.
More information about the St. Louis Fed Research Division can be found here.
Federal Reserve Bank of San Francisco The San Francisco Fed has unique responsibilities and areas of expertise within the Federal Reserve System. It is the headquarters for the Federal Reserve’s Cash Product Office, which oversees and supports the entire system’s cash distribution process. The San Francisco Fed hosts two specialized research centers, one in Economic Research and one in Community Development. The Center for Pacific Basin Studies promotes cooperation among central banks in the Asia-Pacific region and enhances public understanding of major Pacific Basin monetary and economic policy issues. The Center for Community Development Investments serves as a national clearinghouse of Community Reinvestment Act (CRA) investment opportunities across the country and promotes research and dialogue in the field, supporting financial institutions’ investment in community development projects such as affordable housing and small businesses. At its Market Street headquarters, the SF Fed hosts a permanent interactive exhibit, The Fed Center: Exploring our Nation’s Central Bank, designed to teach the public about the functions of the U.S. central bank. Included in the exhibit is the Currency Theatre and Museum, which displays, among other rare and valuable currency, engraved notes by Benjamin Franklin and Paul Revere.
Resources for the Future Resources for the Future (RFF) is an independent, nonpartisan research organization focused on economic and policy analysis of environmental and natural resource issues. RFF was the first think tank devoted exclusively to these topics and helped pioneer the field of environmental and natural resource economics. RFF shares the results of its work with the academic community and with policymakers in government, business, the media, and the interested public. RFF neither lobbies nor takes institutional positions on specific legislative or regulatory proposals. RFF is based in Washington, DC. Summer fellows are expected to work closely with RFF scholars to conduct heavily quantitative research and policy study of ongoing topics. More about RFF and its topics can be found here.
Go here for information on RFF internships and other RFF career opportunities.
The Washington Center for Equitable Growth The Washington Center for Equitable Growth is a non-profit research and grant-making organization dedicated to advancing evidence-backed ideas that promote strong, stable, and broad-based economic growth. Founded in 2013, our mission is to bridge the gap between leading thinkers at universities around the country and policymakers in Washington, D.C. and the states. Our academic research and analysis focuses on policies that improve workers’ and families’ economic stability, well-being, and mobility, as well as how to address structural inequality and the racial and gender inequities woven into the U.S. economy. Equitable Growth has funded more than 250 researchers up and down the career ladder via about $1 million in annual grant funding through a peer-reviewed, competitive process. Our grantees investigate the consequences of economic inequality and the key channels through which inequality may affect growth and stability.
- 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. CBO summer internships provide excellent opportunities to experience and observe the budget process and policymaking at the federal level. The internships are located in Washington, D.C. Interns contribute to CBO's work in program areas such as budget and tax policy, health care, national defense, the environment, education, retirement and other income assistance, regulation, and public investment. Students should be pursuing graduate academic programs in economics, public policy, health policy, financial management, mathematics, statistics, or related programs. At this time we are unable to consider undergraduate students. US citizens and noncitizens who are permanent residents of the United States seeking citizenship are eligible for consideration. Before applying, noncitizens should refer to the agency's information on citizenship requirements or call 202-226-2628 to determine employment eligibility. Students must submit a cover letter, resume, contact information for two references (academic and/or employment), and an unofficial copy of transcripts which includes coursework for the spring semester (first-year graduate students MUST submit both an undergraduate transcript and a graduate transcript). A complete application must be submitted through CBO's online application by the deadline of February 29, 2016 to be considered (no exceptions).
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.
Mathematica Mathematica's summer fellowship program is designed for full-time students who are within two years of completing their doctorate degree and will not graduate prior to beginning the fellowship. Fellows should have a strong interest in learning more about working in a nonacademic environment.
- A cover letter that describes your interest in Mathematica, your current research project(s), how your research interests align with Mathematica’s focus areas, how your background and experiences influenced your research interests, and an office preference (if any);
- A resume or CV;
- A proposal (2,000 words maximum, excluding exhibits and references) for the research project you plan to pursue during the fellowship, including a statement of the research question, the project’s relevance to social policy, and what progress you plan to make during the fellowship period; and
- Two letters of recommendation, including one from a current faculty advisor.
RAND's Summer Associate Program RAND's Graduate Student Summer Associate Program introduces outstanding graduate students to RAND, an institution that conducts research on a wide range of national security problems and domestic and international social policy issues. Summer Associates typically work at RAND for a 12-week period. Students are given the opportunity to conduct independent research that can be completed during the three months they are at RAND. Each Summer Associate is assigned to a research project and is mentored by a senior research staff member -- usually one with the same academic background as the Summer Associate. A student is offered an associateship only after the student and RAND agree that a good match exists between the student's interests and skills and the needs of an ongoing RAND research project. For more information see the website.
Page last revised 12/11/18