Apply Now

The Federal Reserve Bank of Philadelphia is hosting PFMAP for the third year in a row, from September 22 to September 25, 2025. The mentoring week provides feedback and mentoring to a small group of advanced Ph.D. candidates.

PFMAP introduces Ph.D. candidates to the vibrant research life at the Philadelphia Fed while providing them with mentorship opportunities. Participants will present, discuss, and receive feedback on research throughout the week. We will also match participants to mentors at the Philadelphia Fed, provide additional opportunities to network with researchers at and associated with the Philadelphia Fed, and inform participants about the work of and career paths inside the Federal Reserve System.

Now Accepting Applications for 2025

September 22–25, 2025
Application Deadline: June 20, 2025

The Federal Reserve Bank of Philadelphia will be hosting PFMAP, a program that provides interaction, feedback, and mentoring to a small group of advanced Ph.D. candidates from Monday, September 22, through Thursday, September 25, 2025.

Program Information

The Philadelphia Fed is committed to attracting and developing talent from a broad range of backgrounds in the economics pipeline. In the past, Reserve Banks have pioneered new ideas in economics, and we value applicants who bring new ideas to research and policy analysis.

We will consider U.S.-based Ph.D. candidates working on applied macroeconomics, applied microeconomics, and econometrics or machine learning. We will consider other applicants to the extent that our mentors have relevant expertise. PFMAP covers the cost of car travel (up to 250 miles) or equivalent public transportation. PFMAP also provides lodging and meals.

Application Procedure

Email the following application materials to PFMAP at Phil.econ.map@phil.frb.org by June 20, 2025.

  • Vita
  • A draft research paper (e.g., work from your future dissertation [even if preliminary] or a strong third-year paper)
  • A brief statement describing how the program would benefit your work and the economics profession, or how your research relates to the work of the Federal Reserve System. You may also include the titles of work produced by or the names of Ph.D. economists employed by the Philadelphia Fed that are of particular relevance to your work or interests.
  • A brief statement of support from an advisor or committee member, emailed from that advisor or committee member to Phil.econ.map@phil.frb.org.

Key Program Elements

  • At the heart of the program are hour-long academic presentations from each program participant, with mentors and researchers in attendance.
  • In addition, representatives from other departments within the Philadelphia Fed may summarize their work and describe the career paths their departments offer for Ph.D. economists.
  • Communal lunches and a small reception with economists from around the bank will provide additional networking opportunities.
  • Economists will be available to meet one-on-one with the participants to provide feedback.

Frequently Asked Questions

  1. Must I be an official Ph.D. candidate to participate?
    The definition of Ph.D. candidate varies across universities. Participants need not officially be advanced to candidacy but should be at the dissertation stage of their graduate career. (They should have research ready to present during PFMAP.)
  2. Must I attend PFMAP in person, and do I need to be there for the entire program?
    Yes, PFMAP is intended to function in person. However, if attending all four days might be challenging for you because of other obligations, please note that in your application.
  3. Do I need to live in Philadelphia?
    No. The reimbursement you will receive is intended to cover driving or other transportation costs (e.g., Amtrak) to travel to the Philadelphia Fed and your stay in nearby lodging. Travel reimbursement is capped at the cost of driving up to 250 miles to and from Philadelphia. If you live farther away, please include a statement with your application that acknowledges that you have to seek outside funds to cover your excess transportation expenditures.
  4. Should I apply? Is this program targeting me?
    If you think you would benefit from this program, you should apply. While this program is primarily intended for graduate students in the Third District (Delaware, New Jersey, and Pennsylvania) who would particularly benefit from our mentorship, we are considering all applicants. See below for a list of past participants’ schools.
  5. Do you accept students pursuing degrees outside of economics?
    Yes, we consider students from adjacent fields if their research is relevant to economics. Examples are public policy, finance, statistics and data science, and computer science.
  6. What subject areas do the potential mentors cover? How can I find out whether I would be a potential match to a mentor?
    We invite you to browse the profiles of our Ph.D. economists to gauge the breadth of topics covered at the Bank. You can find these profiles at Economists (philadelphiafed.org). However, due to possibly competing commitments, we cannot consider specific match requests. If you are in doubt, we encourage you to apply.
  7. How many participants will there be?
    We are targeting a small group of participants.
  8. If I have questions not answered here, who should I contact?
    Please email us at Phil.econ.map@phil.frb.org with any additional questions.

Program Organizers

Previous participants have come from Boston University, Carnegie Mellon University, Clemson University, Drexel University, Johns Hopkins University, the Pennsylvania State University, Princeton University, Rice University, the University of Chicago Booth School of Business, the University of Delaware, the University of Illinois at Urbana–Champaign, and the University of Pennsylvania.