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Nobel Prize for Economic Science 2019

Nobel Prize for Economic Science 2019

The Royal Swedish Academy of Sciences has decided to award the Nobel Prize in Economic Science officially known as  the ‘Sveriges Riksbank Prize in Economic Sciences’ to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty.”

Key Points: 

  • Abhijit Banerjee and Esther Duflo (husband-wife) from Massachusetts Institute of Technology (US) share the prize with Michael Kremer of Harvard.
  • The laureates have played a decisive role in reshaping research in development economics. Their research has already helped in alleviating global poverty and has great potential to further improve the lives of the most impoverished people on the planet.
  • Esther Duflo, become  the second woman after Elinor Ostrom (2009) of US and the youngest person to be awarded the Prize in Economic Sciences.

About the prize

In 1968, Sveriges Riksbank (Sweden’s central bank) established the Prize in Economic Sciences . The Royal Swedish Academy of Sciences, from, Sweden  will decide the award. The Sveriges Riksbank Prize in Economic Sciences has been awarded 51 times to 84 Laureates between 1969 and 2019.The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969. 

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