The Institute awards a dozen or more Summer Fellowships each year to students who will be entering a doctoral program in economics or affiliated program (e.g., law and economics, economic history, etc.). They also consider applications from those students enrolled in such programs for no more than two years. The program is not designed for students wishing to pursue graduate work in a business school program (e.g. MBA). Summer Fellows come to the Institute for a four-week period of study and are provided with room and board plus a $300 per week stipend.