Sunday, October 16, 2011

Nobel Prize Winners in Economics

Introduced in 1967 but first prize was given in 1969. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 43 times to 69 Laureates between 1969 and 2011.
Why are the individuals awarded a Prize in Economic Sciences called Laureates?
The word "Laureate" refers to being signified by the laurel wreath.
In Greek mythology, the god Apollo is represented wearing a laurel wreath on his head. A laurel wreath is a circular crown made of branches and leaves of the bay laurel (In latin: Laurus nobilis). In ancient Greek laurel wreaths were awarded to victors as a sign of honour - both in athletic competitions and in poetic meets.

1969Ragnar Frish
Joan Tinbergen
Dynamic Econometric Model of Growth
1970Paul SamuelsonContribution in Economic Analysis
1971Simon KuznetsModern Economic Growth Analysis
1972Kenneth Arrow
John Hicko
General Equilibrium and Welfare Economics
1973W.W. LeontiefInput-Outpur Model
1974Gunnar Myrdal
F. Von Hayek
Contribution in Growth Economics
1975Tjalling Koopmans
Leonid Kontarovich
Optimum Resource Allocation
1976Milton FriedmanMonetary History and Consumption Analysis
1977James Meade
Bertel Ohlin
Internation Trade and Capital Flow
1978Herbert SimonDecision Process in Organisations
1979T. Shultz Arthur LewisEconomic Growth in Backward Nations
1980Corienz KleinModel Related to Eonomic Fluctuation
1981James TobinAnalysis of World Financial Market
1982George StiglerPublic Regulation
1983Gerald DebrewModification in General Equilibrium Analysis
1984Richard StoneNational Income Accounting System
1985Franco ModiglianiFinancial Market and Saving Analysis
1986James BoochananEconomic and Political Decision Making
1987Robert T. SolowEconomic Growth Model
1988Moris AlliesOptimum Utilisation of Resources
1989H. TrigwayUse of Probability Theory in Economics
1990Harry Marco Vitz
William Sharp M. Miller
Portfolio Choice Principle, Capital Asset Pricing Model and Principle of Corporate Finance
1991Ronald CoaseTransaction Costs and Property Rights
1992Gerry BackerMicro Economic Analysis of Human Behaviour
1993Robert Fogal
Douglas North
Quantitative Methods in Economic History
1994Joah Harsanyee
John Nash, R. Selton
Theory of non-operative games
1995Robert LucasDevelopment of Rational Expectations Theory
1996James Mirillis
William Vickrey
Incentive Structures Analysis
1997Robert C. Merton
M. S. Scollas
Derivative and Stock Operations
1998Amartya SenWelfare Economics
1999Robert MundellAnalysis of Monetary and Financial Policy in Exchange Rate System
2000James Heckman
Daniel Macfaddan
For developing solution to solve decision making problem
2001George A. Akerlof
A. Michael Spence
Joseph E. Stiglitz
Developing theories about financial markets that can be applied to both developing and advanced countries
2002Daniel Kahnemann Vernon
L. Smith
Human Judgment and Decision Making under Uncertainity
2003Robert Engle
Clive Granger
Methods analysing economic time series with time-varying volatility and common trend
2004Finn Kydland
Edward Prescott
Banks and explaining business cycles
2005Thomas C. Schelling
Robert J. Aumann
Game Theory Analysis
2006Admund PhelpsInternational Trade-off between inflation and unemployment
Eric Maskin,
Roger Myerson
Mechanism Design Theory
2008Paul KrugmanNew Trade Analysis Theory
2009Elinor Ostrom
Oliver E. Williamson
Analysis of economic governance, especially the boundaries of the firm
2010Peter A. Diamond
Dale T. Mortensen
Christopher A. Pissarides
Analysis of markets with search frictions
2011Thomas J. Sargent
Christopher A. Sims
Empirical research on cause and effect in the macroeconomy

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