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The Japan-IMF Scholarship Program for Advanced Studies (JISP) aims to provide Japanese citizens with PhDs in macroeconomics and prepare them to work at the International Monetary Fund (IMF). The IMF’s Capacity Development (ICD) works with the Institute of International Education (IIE) to fund and administer the scholarship. The government of Japan provides the scholarship, which consists of seven Ph.D. scholarships awarded each year to students with high academic achievement. All JISP scholars are required to apply for the IMF’s Economist Program (EP) after completing their doctoral degree and accept an EP position if offered. Scholars who do not comply with the condition will be asked to repay the scholarship amount. The IMF will not be able to accommodate all JISP scholars who apply for jobs since there are numerous applicants for each position and selection is difficult.

Eligibility Criteria & Application Procedure

To be eligible, an applicant must be:

  • A Japanese citizen.
  • Able to obtain a Ph.D. before age 34.
  • Studying at, or applying to, a Ph.D. program in macroeconomics at a university outside of Japan. Only universities with strong doctoral programs in macroeconomics are eligible.
  • Entering the 1st, 2nd, or 3rd year of the Ph.D. program.

is available online It must be completedin Englishand include the following:

  • A personal statement focusing on the applicant’s background, career goals, and interest in working as an IMF economist;
  • A complete university transcript for the applicant’s prior studies and, if already a graduate student, a current university transcript;
  • GRE and TOEFL or IELTS scores;
  • A copy of one application to a Ph.D. program; and
  • Two reference letters.

The deadline for receipt of scholarship applications is November 30, 2022.

Scholarships are awarded in the spring, for studies starting in the fall of that same year. Candidates must apply directly to universities for admission.

Please note that no exceptions can be made regarding the scholar’s nationality, university location, or field of study.

Academic Program

  • JISP scholars must continue an approved course of study and maintain high academic standards, passing all mandatory and qualifying examinations.
  • Scholars usually complete the majority of the coursework in the first two years of their Ph.D., with the remainder of their studies devoted to researching and writing a dissertation.
  • Dissertation subjects should focus on macroeconomics and topics relevant to the work of the IMF, such as public finance, monetary economics, international economics, poverty issues, political economy, or econometrics.
  • Selected scholars must attend a 2-day orientation program at the IMF in Washington D.C., shortly before they begin studies at their respective universities.
  • JISP scholars are required to complete a 10-13 week paid summer internship at the IMF in the year before obtaining their doctorate. JISP interns work in one of the IMF departments on a wide range of topical and regional assignments.

Scholarships Benefits:

The JISP covers reasonable expenses for two years of graduate study including:

  • Full university tuition and fees;
  • Medical insurance;
  • Monthly living allowance;
  • Selected travel expenses; and
  • Paid summer internship.

To cover the remaining years of study, JISP scholars are expected to secure another source of funding, usually through Research or Teaching Assistantship at their university.


By accepting the JISP award, scholars commit to:

  • Study at a university that is located outside of Japan and has a strong Ph.D. program in macroeconomics;
  • Remain a full-time graduate student in a Ph.D. program in macroeconomics for the duration of the two-year scholarship; maintain high academic performance (minimum average of B), and pass all required qualifying exams;
  • Complete a 10–13 week paid internship at the IMF; and
  • Apply to the IMF’s Economist Program during the last year of Ph.D. or later but before the age of 34 and accept the IMF employment offer if one is extended.

Scholars who do not comply with the above conditions will be required to repay the JISP award.

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