History of the Nobel Prize in Economics
Regardless of whether economics is considered a natural science or a social science, the fact is that it is still classified as a science according to the Nobel Prize in Economics , as the full name is the Bank of Sweden Prize in Economic Sciences in memory of Alfred Nobel.
Although the original five fields of the Nobel Prize were established in 1895 by the will of Albert Nobel, a Swedish chemist, inventor, and businessman, it was not until 1968 that the Nobel Prize in Economics was established.
Since then, the Nobel Prize in Economics has been awarded to a large number of prestigious economists, including:
- Friedrich August von Hayek
- Milton friedman
- Daniel kahneman
- Joseph stiglitz
The most recent winners of the Nobel Prize in Economics have been the Americans Paul R. Milgrom and Robert B. Wilson for “their improvements in auction theory and inventions of new auction formats” in 2020. Although the winners have been awarded the Nobel prize in economics for many fields of study, the macroeconomy is has become a particularly popular topic for the winners.
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Learning about the Nobel Prize in Economics and its winners is useful not only to gain information on the latest trends in economics, but also to improve your own economic knowledge, which can have a positive impact on the results of your own studies and exams.
Even if you prefer to focus on studying a specific area of economics, such as macroeconomics, financial economics, or behavioral economists, Superprof has teachers with experience teaching these areas and can help you expand your knowledge of these topics. History of the Nobel Prize in Economics