The 2020-2021 Ronald I. McKinnon Memorial Fellowship for Undergraduate Students
The Stanford King Center on Global Development is pleased to offer undergraduate students, who will be writing an honors thesis, the opportunity to apply for the Ronald I. McKinnon Memorial Fellowship. The fellowship honors Stanford Professor Ronald McKinnon’s memory by funding outstanding undergraduate research projects in the areas of international economics, international finance, and economic development.
A leading thinker in the field of international economics, Professor Ronald McKinnon was one of the first academics to analyze "financial repression" as a substantial barrier to successful economic development. He is remembered as an "intellectual giant" throughout the Stanford and economics community.
The 2020-21 academic year application deadline is Monday, April 19, 2021 at 11:59pm.
WHAT YOU WILL DO
Research in the areas of:
- International economics, or
- International finance, or
- Economic development
Stanford undergraduates must be declared in economics and must be writing an honors thesis in international economics, international finance, or economic development.
Proposals should show a clear path to an honors thesis, which must be under faculty mentorship and successfully completed by the end of senior year.
Econ 198 (Junior Honors Seminar) must be successfully completed by undergraduates during spring quarter of junior year.
Please note that undergraduate travel to any countries with U.S. Department of State warnings of Level 3 or 4 cannot be supported per the International Travel Policy from the Office of the Provost.
In addition:
- Recipients must be registered students in the quarter they receive funds.
- Prior applicants may reapply for funding for different projects or may resubmit improved versions of earlier submissions.
Stewardship Obligations:
Fellowship recipients will write a thank-you letter to the donor. The letter must be written in a timely manner, and include an abstract of the project and how the award will be used. Stewardship guidelines are provided.
Fellowship recipients may be asked to present their research at a workshop or seminar organized by the Stanford King Center on Global Development.
Funding Guidelines:
- Awards prioritize projects requesting coverage of direct research costs, e.g., travel, field expenses, and data acquisition
- Requests must be for expenses that are not covered through other sources of funding from external or university sources
- Applicants may simultaneously apply for other sources of funding, but may not accept multiple sources of funding for the same expenses
- Funds awarded must be spent within six months of receipt
- If the project involves human subjects, funds will not be disbursed until grantees obtain IRB approval
Please note the following:
- Proposals may be partially funded.
- All funds will be dispersed as Stipend Funding via the Office of Financial Aid.
- Stipends may be considered taxable for the recipient, although no tax forms are generated by the university.
- The tax obligation varies according to the individual student's total income, dependency status, treaty status for international students, and individual circumstances. Residents of certain countries may be able to claim a tax treaty benefit for reduced federal taxation. For assistance with tax withholding, tax treaty and tax form issues, submit a Support Request. For more information regarding tax considerations, please visit https://web.stanford.edu/group/fms/fingate/staff/supptstudents/tax_students.html#GFS_payment_tax.
The Budget:
Please see the sample budget provided at the bottom of this page, under "Additional Resources." Please use the same level of detail. The sample budget template can also be downloaded on our website.
Please list all the anticipated sources of funding indicating which items would be supported by these funds and which will be covered by other sources.
The following expense categories WILL be considered an appropriate use of these funds:
- Travel costs (either domestic or international; round-trip, economy class airfare, based on fares to and from San Francisco) associated with the proposed research
- Other special project costs such as purchase of datasets, production of questionnaires and surveys, or human subject costs
- Data entry or transcription costs
- Other activities directly related to the research
- Accommodation and meals
The following expense categories will NOT be considered an appropriate use of these funds:
- Salary payments to undergraduates
- Equipment purchase(s)
- Travel costs for dependents and/or spouses
- Travel costs for job interviews
- Travel costs to attend or present at professional conferences
- Dissertation write-up grants
- Course registration
- Stanford tuition
- Language training
- Pre-departure immunizations
- Travel medicine consultation
- Health insurance
- Visa costs
- All other incidental expenses
Next Steps:
Along with the online application, which includes a two-page project description, a detailed budget and timeline, applicants are asked to submit a CV, an official Stanford transcript, and one faculty letter of recommendation.
The faculty letter of recommendation is requested by the student within the application and a link is instantly sent to the faculty member, who can then submit the letter via SOLO. Your faculty recommender may submit a letter at any time once you have entered their name in the SOLO application. Out of courtesy to your faculty recommender, please do not wait to add their name until you are ready to submit your application; add their name as soon as you know you will be applying and have requested a letter from them.
The deadline for the letter of recommendation is the same as the application deadline.
*Applicants are responsible for ensuring that their letter of recommendation is submitted by the application deadline.
The 2020-21 academic year application deadline is Monday, April 19, 2021 at 11:59pm.
After the application deadline, completed applications will be reviewed by a committee.
Candidates will be selected based on overall fit with the fellowship and academic excellence.