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Hockey’s Jadoogar – Dhyan Chand

Dhyan Chand popularly known as hockey's jadoogar. Dhyan Chand was born on 29th August, 1905 at Allahabad. His father was in the British Indian...
HomeLearnEconomyNobel Prize Winners in Economics

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 Nobel Prize Winners in Economics 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.

Nobel Prize Winners in Economics

Year Winner Field
1969 Ragnar Frish
Joan Tinbergen
Dynamic Econometric Model of Growth
1970 Paul Samuelson Contribution in Economic Analysis
1971 Simon Kuznets Modern Economic Growth Analysis
1972 Kenneth Arrow
John Hicko
General Equilibrium and Welfare Economics
1973 W.W. Leontief Input-Outpur Model
1974 Gunnar Myrdal
F. Von Hayek
Contribution in Growth Economics
1975 Tjalling Koopmans
Leonid Kontarovich
Optimum Resource Allocation
1976 Milton Friedman Monetary History and Consumption Analysis
1977 James Meade
Bertel Ohlin
Internation Trade and Capital Flow
1978 Herbert Simon Decision Process in Organisations
1979 T. Shultz Arthur Lewis Economic Growth in Backward Nations
1980 Corienz Klein Model Related to Eonomic Fluctuation
1981 James Tobin Analysis of World Financial Market
1982 George Stigler Public Regulation
1983 Gerald Debrew Modification in General Equilibrium Analysis
1984 Richard Stone National Income Accounting System
1985 Franco Modigliani Financial Market and Saving Analysis
1986 James Boochanan Economic and Political Decision Making
1987 Robert T. Solow Economic Growth Model
1988 Moris Allies Optimum Utilisation of Resources
1989 H. Trigway Use of Probability Theory in Economics
1990 Harry Marco Vitz
William Sharp M. Miller
Portfolio Choice Principle, Capital Asset Pricing Model and Principle of Corporate Finance
1991 Ronald Coase Transaction Costs and Property Rights
1992 Gerry Backer Micro Economic Analysis of Human Behaviour
1993 Robert Fogal
Douglas North
Quantitative Methods in Economic History
1994 Joah Harsanyee
John Nash, R. Selton
Theory of non-operative games
1995 Robert Lucas Development of Rational Expectations Theory
1996 James Mirillis
William Vickrey
Incentive Structures Analysis
1997 Robert C. Merton
M. S. Scollas
Derivative and Stock Operations
1998 Amartya Sen Welfare Economics
1999 Robert Mundell Analysis of Monetary and Financial Policy in Exchange Rate System
2000 James Heckman
Daniel Macfaddan
For developing solution to solve decision making problem
2001 George A. Akerlof
A. Michael Spence
Joseph E. Stiglitz
Developing theories about financial markets that can be applied to both developing and advanced countries
2002 Daniel Kahnemann Vernon
L. Smith
Human Judgment and Decision Making under Uncertainity
2003 Robert Engle
Clive Granger
Methods analysing economic time series with time-varying volatility and common trend
2004 Finn Kydland
Edward Prescott
Banks and explaining business cycles
2005 Thomas C. Schelling
Robert J. Aumann
Game Theory Analysis
2006 Admund Phelps International Trade-off between inflation and unemployment
2007 Leonid,Hurwicz,
Eric Maskin,
Roger Myerson
Mechanism Design Theory
2008 Paul Krugman New Trade Analysis Theory
2009 Elinor Ostrom
Oliver E. Williamson
Analysis of economic governance, especially the boundaries of the firm
2010 Peter A. Diamond
Dale T. Mortensen
Christopher A. Pissarides
Analysis of markets with search frictions
2011 Thomas J. Sargent
Christopher A. Sims
Empirical research on cause and effect in the macroeconomy

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