One of American University's newest partnerships is bringing the nation's next generation of economists to campus for the next three summers—along with more than $2.3 million in external funding to support their success. 

This summer marks AU's first year as the host of the American Economic Association Summer Training and Scholarship Program (AEASP), an eight-week residential program that prepares talented undergraduates and recent graduates for doctoral study through rigorous coursework, faculty mentorship, original research, and unparalleled access to Washington's leading economic and policy institutions. 

Supported by a three-year award from the American Economic Association, along with nearly $1.43 million in grants from the Alfred P. Sloan Foundation and the Peter G. Peterson Foundation, the program represents a significant investment in developing future leaders in economics. Since 1974, the AEASP has helped talented undergraduates from across the country prepare for doctoral study and careers in research, academia, public policy, and the private sector. 

Over eight weeks this summer, 40 students are strengthening their quantitative skills, conducting original research, and connecting with faculty mentors and leading economists throughout Washington, DC. Through site visits to organizations including the International Monetary Fund, the Brookings Institution, and the Federal Reserve Board, students are gaining firsthand exposure to the people and institutions shaping economic research and policy around the world—all while building professional relationships that will support them throughout their careers.

"Hosting the AEA Summer Training and Scholarship Program here at the College reflects the kind of innovative, mission-driven partnerships that expand opportunities for students while advancing American University's impact,” says Linda Aldoory, dean of the College of Arts and Sciences. “We are proud to welcome these outstanding scholars to AU and look forward to building on the program's success in the years ahead." 

Preparing Tomorrow's Economists 

"Many talented undergraduates lack opportunities to build quantitative preparation, engage in research, or access the professional guidance needed for doctoral study," says AU Professor of Economics Kara Reynolds, AEASP director. As an all-expenses-paid program, AEASP covers tuition, housing, meals, and provides students with a summer stipend, making the opportunity accessible to talented students from across the country. 

Students live on campus while completing four intensive courses in mathematics, microeconomics, econometrics, and research methods taught by AU faculty. They conduct original research, work closely with faculty and professional mentors, and build relationships with peers from across the country. 

For participant Caleb "Max" Hill, a rising senior at Marshall University, the program has expanded his understanding of economics and his ambitions for the future. Growing up in Huntington, West Virginia, he watched his community grapple with economic decline, shrinking job opportunities, and the opioid crisis. He says those challenges sparked his interest in economics and a desire to better understand the forces shaping communities like Huntington.  

"Whether it's the region's economic decline, labor shortages, or the decisions individuals make in response to those conditions, many issues can be traced back to economics in one way or another," he says. "This realization is what drew me into the field." 

The AEASP has broadened Hill’s understanding of how economists apply their research to real-world challenges. "Before the program, I heard that economics is a broad field with many applications, but I didn't fully appreciate what that meant,” he says. “This summer, I was introduced to environmental economics, gender studies, and many other fields where economic thinking plays an important role. Without this experience, I would have a much narrower view of the possibilities this field offers." 

Hill says the encouragement he's received from faculty and fellow students has also strengthened his interest in pursuing a PhD. "When I talk about my future in economics, I've felt nothing but encouragement from professors, peers, and everyone involved in the program. They want to see how far you can go and push you to take that next step." 

The summer culminates on July 24 with the AEA Summer Training Program Research Conference, where students will present the original research they've conducted during the eight-week program to faculty, mentors, and invited guests. 

“The program has challenged students to reach their full academic potential while welcoming them into a community of economists who have come before them,” says Reynolds. “Seeing what they have accomplished this summer has been inspiring, and I’m excited that American University is now part of the enduring legacy of the AEASP."