The Cambridge Political Economy Society Trust

Charity Number: 291310

Annual Expenditure: £0.1M

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Quick Stats

  • Annual Giving: £147,845 (income 2024)
  • Success Rate: Not publicly disclosed
  • Decision Time: Varies by program (biannual trustee meetings)
  • Grant Range: £1,000 - £20,780+
  • Geographic Focus: England and Wales (primarily University of Cambridge students)

Contact Details

Overview

The Cambridge Political Economy Society Trust was established in 1985 by the Cambridge Political Economy Society, the publisher of several leading academic journals including the Cambridge Journal of Economics. Registered as charity number 291310, the Trust has two primary aims: to advance the education of the public in political economy and related matters, and to promote research into political economy and publish the useful results of such research. With total income of £147,845 in 2024 (though expenditure was significantly higher at £263,771), the Trust focuses its grant-making activities on supporting PhD students and researchers at the University of Cambridge. The Trust is governed by eight trustees, chaired by Dr Philip Bernard Faulkner, and interprets political economy broadly to include theoretical, applied, interdisciplinary, historical, and methodological research with an emphasis on realistic analysis, critical perspectives, empirical evidence, and policy construction.

Funding Priorities

Grant Programs

1. Three-Year Research Scholarship (Biennial Award)

  • Amount: Full scholarship covering university and college fees plus £20,780 maintenance grant (2025/26 rate), or fees-only award
  • Eligibility: Candidates accepted to a University of Cambridge PhD programme in political economy (any faculty/department)
  • Application Method: Annual deadline (11 March 2026 for next round)
  • Special Note: “Particularly encourages well-qualified candidates who are UK citizens” but open to EU and overseas students

2. Supplementary Funding

  • Amount: “Relatively modest (in the region of a few thousand pounds)”
  • Eligibility: Full-time PhD students at Cambridge nearing completion of dissertations, or those seeking to procure additional funding
  • Application Method: Two annual deadlines (10 January and 1 July)
  • Priority: Given to students nearing the end of their studies

3. Emergency Funding

  • Amount: Up to £1,000 per grant
  • Number: Up to 10 grants annually
  • Eligibility: Full-time PhD students at Cambridge in “immediate and unanticipated financial need”
  • Application Method: Rolling basis (no fixed deadline)

4. CPEST/CBR Research Grant Competition

  • Eligibility: Cambridge departmental/college academic staff, CPES members, and Centre for Business Research members
  • Focus: Research projects in political economy housed at CBR or other University departments
  • Examples of Funded Projects:
  • “IMF Lending and Socio-Economic Development” (Prof L King)
  • “Regimes of Austerity: Economic Change and the Politics of Contraction” (Dr M Gray, 2018-2020)
  • “The Employment Dosage: How Much Work is Needed for Health and Wellbeing?” (Dr B Burchell, 2018-2020)

Priority Areas

The Trust supports research that is:

  • Theoretical: Conceptual frameworks and theoretical development in political economy
  • Applied: Real-world applications of political economy principles
  • Interdisciplinary: Work bridging political economy with other social sciences, including heterodox economics
  • Historical: History of economic thought and historical perspectives
  • Methodological: Approaches emphasizing realistic analysis, critical perspectives, empirical evidence, and policy construction

What They Don't Fund

  • Students on MPhil, MRes, or similar programmes (until accepted to PhD programme)
  • Current University Graduate Students already registered for PhD who have commenced their three years of research (not eligible for three-year scholarship)
  • Applications from students who have not exhausted other funding sources (for supplementary and emergency funding)
  • Research outside the field of political economy
  • Students not affiliated with the University of Cambridge
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Governance and Leadership

Trustees (8 members)

  • Dr Philip Bernard Faulkner - Chair
  • Mr Kenneth Johnson Coutts
  • Dr Christos Pitelis
  • Dr Simon Deakin
  • Dr Murray Milgate
  • Dr Stephen Pratten
  • Dr Alan Hughes
  • Dr Brendan Burchell

No trustees receive remuneration for their service.

Governing Document

The Trust operates under a Declaration of Trust dated 21 December 1984 and Supplemental Deed dated 21 February 1985.

Application Process and Timeline

How to Apply

Three-Year Research Scholarship

  • Download application form from website or request via email to trust@cpes.org.uk
  • Important: “Do not submit applications more than one month prior to the application deadline”
  • Deadline: 11 March 2026 (for 2026/27 academic year)
  • Must be accepted (or expecting acceptance by 30 September) to a Cambridge PhD programme in political economy

Supplementary Funding

  • Download application form from CPES website
  • Provide detailed budget breakdown
  • Demonstrate that other funding sources have been exhausted
  • Submit by 10 January or 1 July
  • Inquiries to trust@cpes.org.uk

Emergency Funding

  • Download application form from CPES website
  • Prove immediate and unanticipated financial need
  • Show that all other funding possibilities have been exhausted
  • No fixed deadline (rolling basis)
  • Inquiries to trust@cpes.org.uk

Decision Timeline

  • Trustee Meetings: Two statutory meetings per year (aligned with application deadlines)
  • Research Scholarship: Decisions made after March deadline for October start
  • Supplementary Funding: Decisions made at biannual trustee meetings following January and July deadlines
  • Emergency Funding: Assessed on rolling basis
  • Notification Method: Not publicly specified; likely via email to applicants

Success Rates

Success rates are not publicly disclosed. The Trust notes that it “reserves the right to make no award” for the research scholarship if no suitable candidates are found, suggesting a selective process based on academic merit and research relevance.

Reapplication Policy

Not explicitly stated in available materials. However, the structure suggests:

  • Unsuccessful three-year scholarship applicants can reapply in subsequent years (biennial award)
  • Supplementary funding has two deadlines per year, suggesting multiple opportunities
  • Emergency funding is assessed on a case-by-case basis as needs arise

Application Success Factors

Selection Criteria

For Three-Year Research Scholarship:

  1. Academic Merit: Strong academic credentials and potential
  2. Research Relevance: Alignment with Trust's interpretation of political economy
  3. Research Quality: Emphasis on realistic analysis, development of critical perspectives, provision and use of empirical evidence, and construction of policy

For Supplementary Funding:

  1. Stage of Research: Priority given to students nearing completion
  2. Financial Need: Must demonstrate exhaustion of other funding sources
  3. Likelihood of Completion: Will the grant enable dissertation completion or help secure additional funding?

For Emergency Funding:

  1. Immediate Need: Must demonstrate urgent, unanticipated financial crisis
  2. Exhaustion of Alternatives: Must prove no other means of meeting expenses
  3. Continuing Student Status: Must remain eligible full-time PhD student

What the Trust Values

Based on funded projects and stated priorities, successful applications demonstrate:

  • Realistic Analysis: Grounded in empirical evidence rather than purely theoretical abstraction
  • Critical Perspectives: Challenging orthodox assumptions or exploring alternative frameworks (welcomes heterodox economics)
  • Policy Relevance: Research that contributes to policy construction and real-world applications
  • Interdisciplinary Approaches: Bridging political economy with other social science disciplines

Examples of Successful Research Themes

  • Economic austerity and urban politics (Dr M Gray's “Regimes of Austerity”)
  • International financial institutions and development (Prof L King's IMF project)
  • Labour markets and wellbeing (Dr B Burchell's employment research)

Application Tips

  1. For Research Scholarship: Apply within one month of deadline (not earlier)
  2. For All Applications: Clearly articulate how research fits within political economy as broadly defined by the Trust
  3. For Supplementary/Emergency: Provide thorough documentation of attempts to secure funding elsewhere
  4. Budget Clarity: Include detailed budget breakdowns showing specific uses of funds

Key Takeaways for Grant Writers

  • Narrow Focus, Deep Expertise: This Trust exclusively supports political economy research at the University of Cambridge - ensure clear institutional affiliation and disciplinary fit
  • Broad Definition of Political Economy: The Trust welcomes theoretical, applied, interdisciplinary, historical, and methodological approaches, including heterodox economics - don't assume a narrow interpretation
  • Evidence and Realism Matter: Emphasize empirical grounding, critical perspectives, and policy relevance in your research proposal
  • Know Your Application Timing: The three-year scholarship is biennial and highly competitive; supplementary funding offers two chances per year; emergency funding is assessed on rolling basis
  • Demonstrate Financial Need Thoroughly: For supplementary and emergency funding, comprehensive evidence of exhausted alternatives is essential
  • UK Citizens Particularly Encouraged: While the three-year scholarship is open to all, UK citizens are explicitly encouraged to apply
  • Quality Over Quantity: The Trust reserves the right to make no awards if candidates don't meet standards - focus on excellence and fit rather than just meeting minimum requirements

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References