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Keynes Fund


The Keynes Fund runs two calls for project proposals annually.

Decisions are made by the board of managers.


24th Call for Projects

Deadline: 22nd March 2024

Download the Application Guidelines


Proposals of high-quality projects consistent with the objectives and themes of the Keynes Fund are solicited.

The focus of the teaching and research supported by the Fund is the sources and consequences of failure of market efficiency, particularly but not exclusively as a result of Agency costs. In particular, research into: capital market mispricing; the design of incentive systems and mechanisms to reduce the incidence and significance of institutional or general economic failure as well as into responsive public policies. The scope of work to be funded shall include interactions between the financial markets and the real economy.

The Managers of the Fund encourage research based on empirical observation of the behaviour of market participants, drawing as appropriate on relevant work in the other social sciences, biology and history. They shall also encourage academics to extend the frontiers of traditional economics in order to raise Cambridge's profile in the critical area between economic theory, best private sector practice and public policy, with a bias towards promoting long-term thinking, dampened pro-cyclicality, improved economic growth and reduced income/wealth disparities.

The Keynes Fund provides resources to the Cambridge research community for high-quality projects consistent with these themes. The key features on which projects will be assessed are: quality, impact and positive strong externalities for the Cambridge research environment, especially with regard to the promotion of young talent in the Cambridge Ph.D. programme, or among Post-docs.

Proposers are expected to motivate their projects in light of the statutory goals of the Keynes Fund, clearly identifying the areas of originality and excellence in them.


If you are a Cambridge PhD student whose research is within the remit of the Keynes Fund for Applied Economics, you may be interested in applying for the Keynes Fund Small Award Scheme for PhDs. Find out more here.