Image for Nobel Prize in Economic Sciences

Nobel Prize in Economic Sciences

The Nobel Prize in Economic Sciences, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is awarded annually to individuals who have made significant contributions to the field of economics. Established in 1968, it recognizes research that enhances our understanding of economic processes, policies, and behaviors. Recipients, often economists, have explored various topics, from market dynamics to development strategies. While not one of the original Nobel Prizes conceived by Alfred Nobel, it maintains the same prestige and is presented alongside the other Nobel awards, reflecting the importance of economic science in society.

Additional Insights

  • Image for Nobel Prize in Economic Sciences

    The 2019 Nobel Prize in Economic Sciences was awarded to Abhijit Banerjee, Esther Duflo, and Michael Kremer for their innovative approach to alleviating global poverty. They pioneered the use of randomized controlled trials (RCTs) to test the effectiveness of social programs in real-world settings. By focusing on small, specific interventions—such as improving education and health—they provided valuable insights into how to tackle poverty more effectively. Their work has influenced policy decisions worldwide and demonstrated that targeted strategies can lead to better outcomes for the poor.