The Nobel Prize in Economic Sciences

The Nobel Prize in Economic Sciences, established in 1968, recognizes outstanding contributions to understanding how economies function and improve. It honors researchers who develop innovative theories, models, or empirical studies that help explain issues like inflation, unemployment, market behavior, and economic development. While not a traditional Nobel Prize, it is awarded by the Swedish Academy of Sciences and aims to inspire advancements that benefit society by enhancing economic knowledge and policy-making. The prize highlights the importance of economic research in solving real-world challenges and improving living standards worldwide.