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NOBEL MEMORIAL PRIZE IN
ECONOMIC SCIENCES
Dr Basil Bemgba Achie MBBS Ibadan
Introduction
• The Nobel Memorial Prize in Economic Sciences was established in 1968 by a
donation from the Swedish Centra...
Outline
1969: Ragnar Frisch 1975: Tjalling Koopmans
1969: Jan Tinbergen 1976: Milton Friedman
1970: Paul Samuelson 1977: B...
Outline
1983: Gerard Debreu 1991: Ronald Coase
1984: Richard Stone 1992: Gary Becker
1985: Franco Modigliani 1993: Robert ...
Outline
1997: Robert C. Merton 2002: Vernon L. Smith
1997: Myron Scholes 2003: Robert F. Engle
1998: Amartya Sen 2003: Cli...
Outline
2007: Roger Myerson 2011: Christopher A. Sims
2008: Paul Krugman 2012: Alvin E. Roth
2009: Elinor Ostrom 2012: Llo...
Outline
2016: Oliver Hart 2018: Paul Romer
2016: Bengt Holmstrom 2019: Abhijit Banerjee
2017: Richard Thaler 2019: Esther ...
1969
Ragnar Frisch
Lifetime: 3 March 1895 – 31 January 1973 Nationality - Norway
• Ragnar Anton Kittil Frisch
• Norwegian ...
1969
Jan Tinbergen
Lifetime: April 12, 1903 – June 9, 1994 Nationality - Netherlands
• Dutch economist considered one
of t...
1970
Paul Samuelson
Lifetime: May 15, 1915 – December 13, 2009 Nationality – United States
• Paul Anthony Samuelson
• Amer...
1971
Simon Kuznets
Lifetime: April 30, 1901 – July 8, 1985 Nationality – United States
• Simon Smith Kuznets
• American ec...
1972
John Hicks
Lifetime: 8 April 1904 – 20 May 1989 Nationality – United Kingdom
• Sir John Hicks
• British economist
• H...
1972
Kenneth Arrow
Lifetime: 23 August 1921 – 21 February
2017 Nationality – United States
• Kenneth Joseph Arrow
• Americ...
1973
Wassily Leontief
Lifetime: August 5, 1905 – February 5,
1999
Nationality – Soviet Union/United
States
• Wassily Wassi...
1974
Gunnar Myrdal
Lifetime: 6 December 1898 – 17 May
1987 Nationality - Sweden
• Karl Gunnar Myrdal
• Swedish economist a...
1974
Friedrich Hayek
Lifetime: 8 May 1899 – 23 March 1992
Nationality – Austria/ United
Kingdom
• Friedrich August von Hay...
1975
Leonid Kantorovich
Lifetime: 19 January 1912 – 7 April 1986 Nationality – Soviet Union
• Leonid Vitaliyevich Kantorov...
1975
Tjalling Koopmans
Lifetime: August 28, 1910 – February 26,
1985
Nationality – Netherlands/United
States
• Tjalling Ch...
1976
Milton Friedman
Lifetime: July 31, 1912 – November 16,
2006 Nationality – United States
• American economist
• He was...
1977
Bertil Ohlin
Lifetime: July 31, 1912 – November 16,
2006 Nationality – Sweden
• Bertil Gotthard Ohlin
• American econ...
1977
James Meade
Lifetime: 23 June 1907 – 22 December
1995 Nationality – United Kingdom
• James Edward Meade CB FBA
• Brit...
1978
Herbert A. Simon
Lifetime: June 15, 1916 – February 9,
2001 Nationality – United States
• Herbert Alexander Simon
• A...
1979
Theodore Schultz
Lifetime: 30 April 1902 – 26 February
1998 Nationality – United States
• Theodore William Schultz
• ...
1979
Arthur Lewis
Lifetime: 23 January 1915 – 15 June
1991
Nationality – Saint Lucia/United
Kingdom
• Sir William Arthur L...
1980
Lawrence Klein
Lifetime: September 14, 1920 – October
20, 2013 Nationality – United States
• Lawrence Robert Klein
• ...
1981
James Tobin
Lifetime: March 5, 1918 – March 11,
2002 Nationality – United States
• American economist
• He was honour...
1982
George Stigler
Lifetime: January 17, 1911 – December
1, 1991 Nationality – United States
• George Joseph Stigler
• Am...
1983
Gerard Debreu
Lifetime: 4 July 1921 – 31 December
2004 Nationality – France
• French economist and
mathematician
• He...
1984
Richard Stone
Lifetime: 30 August 1913 – 6 December
1991 Nationality – United Stone
• Sir John Richard Nicholas Stone...
1985
Franco Modigliani
Lifetime: 18 June 1918 - 25 September
2003 Nationality – Italy, United States
• Italian American ec...
1986
James M. Buchanan
Lifetime: October 3, 1919 – January 9,
2013 Nationality – United States
• James McGill Buchanan Jr....
1987
Robert Solow
Born August 23, 1924 Nationality – United States
• Robert Merton Solow GCIH
• American economist
• He wa...
1988
Maurice Allais
Lifetime: 31 May 1911 – 9 October 2010 Nationality – France
• Maurice Félix Charles Allais
• French ph...
1989
Trygve Haavelmo
Lifetime: 13 December 1911 – 28 July
1999 Nationality - Norway
• Trygve Magnus Haavelmo
• Norwegian e...
1990
Harry Markowitz
Born August 24, 1927 Nationality – United States
• Harry Max Markowitz
• American economist
• He was ...
1990
Merton Miller
Lifetime: May 16, 1923 – June 3, 2000 Nationality – United States
• Merton Howard Miller
• American eco...
1990
William F. Sharpe
Born June 16, 1934 Nationality – United States
• William Forsyth Sharpe
• American economist
• He w...
1991
Ronald Coase
Lifetime: 29 December 1910 – 2
September 2013 Nationality – United Kingdom
• Ronald Harry Coase
• Britis...
1992
Gary Becker
Lifetime: December 2, 1930 – May 3,
2014 Nationality – United States
• Gary Stanley Becker
• American eco...
1993
Robert Fogel
Lifetime: July 1, 1926 – June 11, 2013 Nationality – United States
• Robert William Fogel
• American eco...
1993
Douglass North
Lifetime: November 5, 1920 – November
23, 2015 Nationality – United States
• Douglass Cecil North
• Am...
1994
John Harsanyi
Lifetime: May 29, 1920 – August 9, 2000 Nationality – Hungary/United States
• John Charles Harsanyi
• H...
1994
John Forbes Nash
Lifetime: June 13, 1928 – May 23, 2015 Nationality – United States
• John Forbes Nash Jr.
• American...
1994
Reinhard Selten
Lifetime: 5 October 1930 – 23 August
2016 Nationality – Germany
• Reinhard Justus Reginald Selten
• G...
1995
Robert Lucas Jr.
Born September 15, 1937 Nationality – United States
• Robert Emerson Lucas Jr.
• American economist
...
1996
James Mirrlees
Lifetime: 5 July 1936 – 29 August 2018 Nationality - Britain
• Sir James Alexander Mirrlees
FRSE FBA
•...
1996
William Vickrey
Lifetime: 21 June 1914 – 11 October
1996 Nationality – Canada
• William Spencer Vickrey
• Canadian ec...
1997
Robert C. Merton
Born July 31, 1944 Nationality – United States
• Robert Cox Merton
• American economist
• He was hon...
1997
Myron Scholes
Born July 1, 1941 Nationality – Canada/United States
• Myron Samuel Scholes
• Canadian American financi...
1998
Amartya Sen
Born 3 November 1933 Nationality - India
• Amartya Kumar Sen CH
• Indian economist
• He was honoured for ...
1999
Robert Mundell
Born October 24, 1932 Nationality - Canada
• Robert Alexander Mundell CC
• Canadian economist
• He was...
2000
James Heckman
Born April 19, 1944 Nationality – United States
• James Joseph Heckman
• American economist
• He was ho...
2000
Daniel McFadden
Born July 29, 1937 Nationality – United States
• Daniel Little McFadden
• American econometrician
• H...
2001
George Akerlof
Born June 17, 1940 Nationality – United States
• George Arthur Akerlof
• American economist
• He was h...
2001
Michael Spence
Born November 7, 1943 Nationality – United States
• Andrew Michael Spence
• Canadian American economis...
2001
Joseph Stiglitz
Born February 9, 1943 Nationality – United States
• Joseph Eugene Stiglitz
• American economist
• He ...
2002
Daniel Kahneman
Born March 5, 1934 Nationality – Israel/United States
• Israeli psychologist and economist
• He was h...
2002
Vernon L. Smith
Born January 1, 1927 Nationality – United States
• Vernon Lomax Smith
• American economist
• He was h...
2003
Robert F. Engle
Born November 10, 1942 Nationality – United States
• Robert Fry Engle III
• American statistician
• H...
2003
Clive Granger
Lifetime: 4 September 1934 – 27 May
2009 Nationality – United Kingdom
• Sir Clive William John Granger
...
2004
Finn E. Kydland
Born 1 December 1943 Nationality - Norway
• Finn Erling Kydland
• Norwegian economist
• He was honour...
2004
Edward C. Prescott
Born December 26, 1940 Nationality – United States
• Edward Christian Prescott
• American economis...
2005
Robert J. Aumann
Born June 8, 1930 Nationality – United States/Israel
• Robert John Aumann
• Israeli American mathema...
2005
Thomas C. Schelling
Lifetime: April 14, 1921 – December 13,
2016 Nationality – United States
• Thomas Crombie Schelli...
2006
Edmund S. Phelps
Born July 26, 1933 Nationality – United States
• Edmund Strother Phelps
• American economist
• He wa...
2007
Leonid Hurwicz
Lifetime: August 21, 1917 – June 24,
2008 Nationality – Poland/United States
• Leonid "Leo" Hurwicz
• ...
2007
Eric S. Maskin
Born December 12, 1950 Nationality – United States
• Eric Stark Maskin
• American economist
• He was h...
2007
Roger Myerson
Born March 29, 1951 Nationality – United States
• Roger Bruce Myerson
• American economist
• He was hon...
2008
Paul Krugman
Born February 28, 1953 Nationality – United States
• Paul Robin Krugman
• American economist
• He was ho...
2009
Elinor Ostrom
Lifetime: August 7, 1933 – June 12,
2012 Nationality – United States
• Elinor Claire "Lin" Ostrom
• Ame...
2009
Oliver E. Williamson
Lifetime: September 27, 1932 – May 21,
2020 Nationality – United States
• Oliver Eaton Williamso...
2010
Peter A. Diamond
Born April 29, 1940 Nationality – United States
• Peter Arthur Diamond
• American economist
• He was...
2010
Dale T. Mortensen
Lifetime: February 2, 1939 – January 9,
2014 Nationality – United States
• Dale Thomas Mortensen
• ...
2010
Christopher A. Pissarides
Born 20 February 1948
Nationality – Cyprus/United
Kingdom
• Sir Christopher Antoniou
Pissar...
2011
Thomas J. Sargent
Born July 19, 1943 Nationality – United States
• Thomas John Sargent
• American economist
• He was ...
2011
Christopher Sims
Born October 21, 1942 Nationality – United States
• Christopher Albert "Chris" Sims
• American econo...
2012
Alvin E. Roth
Born December 18, 1951 Nationality – United States
• Alvin Elliot Roth
• American economist
• He was ho...
2012
Lloyd S. Shapley
Lifetime: June 2, 1923 – March 12, 2016 Nationality – United States
• Lloyd Stowell Shapley
• Americ...
2013
Eugene F. Fama
Born February 14, 1939 Nationality – United States
• Eugene Francis "Gene" Fama
• American economist
•...
2013
Lars Peter Hansen
Born 26 October 1952 Nationality – United States
• Lars Peter Hansen
• American economist
• He was ...
2013
Robert J. Shiller
Born March 29, 1946 Nationality – United States
• Robert James Shiller
• American economist
• He wa...
2014
Jean Tirole
Born 9 August 1953 Nationality - France
• French economist
• He was honoured “for his analysis
of market ...
2015
Angus Deaton
Born 19 October 1945
Nationality – United
Kingdom/United States
• Sir Angus Stewart Deaton FBA
• British...
2016
Oliver Hart
Born October 9, 1948
Nationality – United
Kingdom/United States
• Oliver Simon D'Arcy Hart
• British born...
2016
Bengt Holmstrom
Born 18 April 1949 Nationality - Finland
• Bengt Robert Holmstrom
• Finnish economist
• He was honour...
2017
Richard H. Thaler
Born September 12, 1945 Nationality – United States
• American economist
• He was honoured “for his...
2018
William Nordhaus
Born May 31, 1941 Nationality – United States
• William Dawbney Nordhaus
• American economist
• He w...
2018
Paul Romer
Born November 6, 1955 Nationality – United States
• Paul Michael Romer
• American economist
• He was honou...
2019
Abhijit Banerjee
Born 21 February 1961 Nationality - India
• Abhijit Vinayak Banerjee
• Indian American economist
• H...
2019
Esther Duflo
Born 25 October 1972 Nationality – France/United States
• Esther Duflo FBA
• French American economist
•...
2019
Michael Kremer
Born November 12, 1964 Nationality – United States
• Michael Robert Kremer
• American development econ...
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Nobel Memorial Prize in Economic Sciences

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The Nobel Memorial Prize in Economic Sciences was established in 1968 by a donation from the Swedish Central Bank ((Sveriges Riksbank).
The award is considered the Nobel Award of Economics and is administered annually by the Nobel Foundation, at the same ceremony as the five Nobel Prizes established by Alfred Nobel in 1895. It is not, strictly, a Nobel Prize.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as translated from Swedish, is awarded by the Swedish Academy of Sciences.
The following slides present an overview of the laureates from 1968 to 2019.

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Nobel Memorial Prize in Economic Sciences

  1. 1. NOBEL MEMORIAL PRIZE IN ECONOMIC SCIENCES Dr Basil Bemgba Achie MBBS Ibadan
  2. 2. Introduction • The Nobel Memorial Prize in Economic Sciences was established in 1968 by a donation from the Swedish Central Bank ((Sveriges Riksbank). • The award is considered the Nobel Award of Economics and is administered annually by the Nobel Foundation, at the same ceremony as the five Nobel Prizes established by Alfred Nobel in 1895. It is not, strictly, a Nobel Prize. • The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as translated from Swedish, is awarded by the Swedish Academy of Sciences. • The following slides present an overview of the laureates from 1968 to 2019.
  3. 3. Outline 1969: Ragnar Frisch 1975: Tjalling Koopmans 1969: Jan Tinbergen 1976: Milton Friedman 1970: Paul Samuelson 1977: Bertil Ohlin 1971: Simon Kuznets 1977: James Meade 1972: John Hicks 1978: Herbert A. Simon 1972: Kenneth Arrow 1979: Theodore Schultz 1973: Wassily Leontief 1979: Arthur Lewis 1974: Gunnar Myrdal 1980: Lawrence Klein 1974: Friedrich Hayek 1981: James Tobin 1975: Leonid Kantorovich 1982: George Stigler
  4. 4. Outline 1983: Gerard Debreu 1991: Ronald Coase 1984: Richard Stone 1992: Gary Becker 1985: Franco Modigliani 1993: Robert Fogel 1986: James M. Buchanan 1993: Douglass North 1987: Robert Solow 1994: John Harsanyi 1988: Maurice Allais 1994: John Forbes Hash 1989: Trygve Haavelmo 1994: Reinhard Selten 1990: Harry Markowitz 1995: Robert Lucas Jr. 1990: Merton Miller 1996: James Mirrlees 1990: William F. Sharpe 1996: William Vickrey
  5. 5. Outline 1997: Robert C. Merton 2002: Vernon L. Smith 1997: Myron Scholes 2003: Robert F. Engle 1998: Amartya Sen 2003: Clive Granger 1999: Robert Mundell 2004: Finn E. Kydland 2000: James Heckman 2004: Edward C. Prescott 2000: Daniel McFadden 2005: Robert J. Aumann 2001: George Akerlof 2005: Thomas C. Schelling 2001: Michael Spence 2006: Edmund S. Phelps 2001: Joseph Stiglitz 2007: Leonid Hurwicz 2002: Daniel Kahneman 2007: Eric S. Maskin
  6. 6. Outline 2007: Roger Myerson 2011: Christopher A. Sims 2008: Paul Krugman 2012: Alvin E. Roth 2009: Elinor Ostrom 2012: Lloyd S. Shapley 2009: Oliver E. Williamson 2013: Eugene Fama 2010: Peter A. Diamond 2013: Lars Peter Hansen 2010: Dale T. Mortensen 2013: Robert J. Shiller 2010: Christopher A. Pissarides 2014: Jean Tirole 2011: Thomas J. Sargent 2015: Angus Deaton
  7. 7. Outline 2016: Oliver Hart 2018: Paul Romer 2016: Bengt Holmstrom 2019: Abhijit Banerjee 2017: Richard Thaler 2019: Esther Duflo 2018: William Nordhaus 2019: Michael Kremer
  8. 8. 1969 Ragnar Frisch Lifetime: 3 March 1895 – 31 January 1973 Nationality - Norway • Ragnar Anton Kittil Frisch • Norwegian economist, one of the founders of econometrics • He was honoured with Jan Tinbergen “for having developed and applied dynamic models for the analysis of economic processes”
  9. 9. 1969 Jan Tinbergen Lifetime: April 12, 1903 – June 9, 1994 Nationality - Netherlands • Dutch economist considered one of the most influential economists of the 20th century. • He was honoured with Ragnar Frisch “for having developed and applied dynamic models for the analysis of economic processes”
  10. 10. 1970 Paul Samuelson Lifetime: May 15, 1915 – December 13, 2009 Nationality – United States • Paul Anthony Samuelson • American economist cited by The New York Times as ‘the foremost academic economist of the 20th century’ • He was honoured “for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science”
  11. 11. 1971 Simon Kuznets Lifetime: April 30, 1901 – July 8, 1985 Nationality – United States • Simon Smith Kuznets • American economist and statistician • He was honoured “for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and processes of development”
  12. 12. 1972 John Hicks Lifetime: 8 April 1904 – 20 May 1989 Nationality – United Kingdom • Sir John Hicks • British economist • He was honoured with Kenneth Arrow “for their pioneering contributions to general economic equilibrium theory and welfare theory”
  13. 13. 1972 Kenneth Arrow Lifetime: 23 August 1921 – 21 February 2017 Nationality – United States • Kenneth Joseph Arrow • American economist, mathematician, writer and political theorist • He was honoured with John Hicks “for their pioneering contributions to general economic equilibrium theory and welfare theory”
  14. 14. 1973 Wassily Leontief Lifetime: August 5, 1905 – February 5, 1999 Nationality – Soviet Union/United States • Wassily Wassilyevich Leontief • Russian America economist. Four of his doctoral students have also been awarded the prize. • He was honoured “for the development of the input-output method and for its application to important economic problems”
  15. 15. 1974 Gunnar Myrdal Lifetime: 6 December 1898 – 17 May 1987 Nationality - Sweden • Karl Gunnar Myrdal • Swedish economist and sociologist • He was honoured with Friedrich Hayek “for their pioneering work on theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena”
  16. 16. 1974 Friedrich Hayek Lifetime: 8 May 1899 – 23 March 1992 Nationality – Austria/ United Kingdom • Friedrich August von Hayek CH FBA • Austrian British economist and philosopher • He was honoured with Gunnar Myrdal “for their pioneering work on theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena”
  17. 17. 1975 Leonid Kantorovich Lifetime: 19 January 1912 – 7 April 1986 Nationality – Soviet Union • Leonid Vitaliyevich Kantorovich • Soviet mathematician and economist • He was honoured with Tjalling Koopmans “for their contributions to the theory of optimum allocation of resources”
  18. 18. 1975 Tjalling Koopmans Lifetime: August 28, 1910 – February 26, 1985 Nationality – Netherlands/United States • Tjalling Charles Koopmans • Dutch American mathematician and economist • He was honoured with Leonid Kantorovich He was honoured with Tjalling Koopmans “for their contributions to the theory of optimum allocation of resources”
  19. 19. 1976 Milton Friedman Lifetime: July 31, 1912 – November 16, 2006 Nationality – United States • American economist • He was honoured “for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy”
  20. 20. 1977 Bertil Ohlin Lifetime: July 31, 1912 – November 16, 2006 Nationality – Sweden • Bertil Gotthard Ohlin • American economist • He was honoured with James Meade “for their pathbreaking contribution to the theory of international trade and international capital movements”
  21. 21. 1977 James Meade Lifetime: 23 June 1907 – 22 December 1995 Nationality – United Kingdom • James Edward Meade CB FBA • British economist • He was honoured with Bertil Ohlin “for their pathbreaking contribution to the theory of international trade and international capital movements”
  22. 22. 1978 Herbert A. Simon Lifetime: June 15, 1916 – February 9, 2001 Nationality – United States • Herbert Alexander Simon • American economist, political scientist and cognitive psychologist • He was honoured “for his pioneering research into the decision making process within economic organizations”
  23. 23. 1979 Theodore Schultz Lifetime: 30 April 1902 – 26 February 1998 Nationality – United States • Theodore William Schultz • American economist • He was honoured with Arthur Lewis “for their pioneering research into economic development research with particular consideration of the problems of developing countries”
  24. 24. 1979 Arthur Lewis Lifetime: 23 January 1915 – 15 June 1991 Nationality – Saint Lucia/United Kingdom • Sir William Arthur Lewis • Saint Lucian British economist • He was honoured with Theodore Schultz “for their pioneering research into economic development research with particular consideration of the problems of developing countries”
  25. 25. 1980 Lawrence Klein Lifetime: September 14, 1920 – October 20, 2013 Nationality – United States • Lawrence Robert Klein • American economist • He was honoured “for the creation of econometric models and the application of the analysis of economic fluctuations and economic policies”
  26. 26. 1981 James Tobin Lifetime: March 5, 1918 – March 11, 2002 Nationality – United States • American economist • He was honoured “for his analysis of financial markets and their relations to expenditure decisions, employment production and prices”
  27. 27. 1982 George Stigler Lifetime: January 17, 1911 – December 1, 1991 Nationality – United States • George Joseph Stigler • American economist • He was honoured “for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices”
  28. 28. 1983 Gerard Debreu Lifetime: 4 July 1921 – 31 December 2004 Nationality – France • French economist and mathematician • He was honoured “for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium”
  29. 29. 1984 Richard Stone Lifetime: 30 August 1913 – 6 December 1991 Nationality – United Stone • Sir John Richard Nicholas Stone CBE FBA • British economist • He was honoured “for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis”
  30. 30. 1985 Franco Modigliani Lifetime: 18 June 1918 - 25 September 2003 Nationality – Italy, United States • Italian American economist • He was honoured “for his pioneering analyses of saving and of financial markets”
  31. 31. 1986 James M. Buchanan Lifetime: October 3, 1919 – January 9, 2013 Nationality – United States • James McGill Buchanan Jr. • American economist known for his work on public choice theory • He was honoured “for his development of the contractual and constitutional bases for the theory of economic and political decision making”
  32. 32. 1987 Robert Solow Born August 23, 1924 Nationality – United States • Robert Merton Solow GCIH • American economist • He was honoured “for his contribution to the theory of economic growth”
  33. 33. 1988 Maurice Allais Lifetime: 31 May 1911 – 9 October 2010 Nationality – France • Maurice Félix Charles Allais • French physicist and economist • He was honoured “for his pioneering contributions to the theory of markets and efficient utilization of resources”
  34. 34. 1989 Trygve Haavelmo Lifetime: 13 December 1911 – 28 July 1999 Nationality - Norway • Trygve Magnus Haavelmo • Norwegian economist • He was honoured “for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures”
  35. 35. 1990 Harry Markowitz Born August 24, 1927 Nationality – United States • Harry Max Markowitz • American economist • He was honoured with Merton Miller and William Sharpe “for their pioneering work in the theory of financial economics”
  36. 36. 1990 Merton Miller Lifetime: May 16, 1923 – June 3, 2000 Nationality – United States • Merton Howard Miller • American economist • He was honoured with Harry Markowitz and William F. Sharpe “for their pioneering work in the theory of financial economics”
  37. 37. 1990 William F. Sharpe Born June 16, 1934 Nationality – United States • William Forsyth Sharpe • American economist • He was honoured with Harry Markowitz and Merton Miller “for their pioneering work in the theory of financial economics”
  38. 38. 1991 Ronald Coase Lifetime: 29 December 1910 – 2 September 2013 Nationality – United Kingdom • Ronald Harry Coase • British economist and author • He was honoured “for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy”
  39. 39. 1992 Gary Becker Lifetime: December 2, 1930 – May 3, 2014 Nationality – United States • Gary Stanley Becker • American economist • He was honoured “for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour”
  40. 40. 1993 Robert Fogel Lifetime: July 1, 1926 – June 11, 2013 Nationality – United States • Robert William Fogel • American economic historian and scientist • He was honoured with Douglass North “for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change”
  41. 41. 1993 Douglass North Lifetime: November 5, 1920 – November 23, 2015 Nationality – United States • Douglass Cecil North • American economist • He was honoured with Robert Fogel “for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change”
  42. 42. 1994 John Harsanyi Lifetime: May 29, 1920 – August 9, 2000 Nationality – Hungary/United States • John Charles Harsanyi • Hungarian American economist • He was honoured with John Forbes Nash and Reinhard Selten “for their pioneering analysis of equilibria in the theory of non-cooperative games”
  43. 43. 1994 John Forbes Nash Lifetime: June 13, 1928 – May 23, 2015 Nationality – United States • John Forbes Nash Jr. • American mathematician • He was honoured with John Harsanyi and Reinhard Selten “for their pioneering analysis of equilibria in the theory of non-cooperative games”
  44. 44. 1994 Reinhard Selten Lifetime: 5 October 1930 – 23 August 2016 Nationality – Germany • Reinhard Justus Reginald Selten • German economist • He was honoured with John Harsanyi and John Forbes Nash “for their pioneering analysis of equilibria in the theory of non-cooperative games”
  45. 45. 1995 Robert Lucas Jr. Born September 15, 1937 Nationality – United States • Robert Emerson Lucas Jr. • American economist • He was honoured “for having developed and applied the hypothesis of rational expectation, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy”
  46. 46. 1996 James Mirrlees Lifetime: 5 July 1936 – 29 August 2018 Nationality - Britain • Sir James Alexander Mirrlees FRSE FBA • Scottish economist • He was honoured with William Vickrey “for their fundamental contributions to the economic theory of incentives under asymmetric information”
  47. 47. 1996 William Vickrey Lifetime: 21 June 1914 – 11 October 1996 Nationality – Canada • William Spencer Vickrey • Canadian economist • He was honoured with James Mirrlees “for their fundamental contributions to the economic theory of incentives under asymmetric information”
  48. 48. 1997 Robert C. Merton Born July 31, 1944 Nationality – United States • Robert Cox Merton • American economist • He was honoured with Myron Scholes “for a new method to determine the value of derivatives”
  49. 49. 1997 Myron Scholes Born July 1, 1941 Nationality – Canada/United States • Myron Samuel Scholes • Canadian American financial economist • He was honoured with Robert C. Merton “for a new method to determine the value of derivatives”
  50. 50. 1998 Amartya Sen Born 3 November 1933 Nationality - India • Amartya Kumar Sen CH • Indian economist • He was honoured for his contribution to welfare economics”
  51. 51. 1999 Robert Mundell Born October 24, 1932 Nationality - Canada • Robert Alexander Mundell CC • Canadian economist • He was honoured “for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas”
  52. 52. 2000 James Heckman Born April 19, 1944 Nationality – United States • James Joseph Heckman • American economist • He was honoured “for his development of theory and methods for analyzing selective samples”
  53. 53. 2000 Daniel McFadden Born July 29, 1937 Nationality – United States • Daniel Little McFadden • American econometrician • He was honoured “for his development of theory and methods for analyzing discrete choice”
  54. 54. 2001 George Akerlof Born June 17, 1940 Nationality – United States • George Arthur Akerlof • American economist • He was honoured with Michael Spence and Joseph Stiglitz “for their analyses of markets with information asymmetry”
  55. 55. 2001 Michael Spence Born November 7, 1943 Nationality – United States • Andrew Michael Spence • Canadian American economist • He was honoured with George Akerlof and Joseph Stiglitz “for their analyses of markets with information asymmetry”
  56. 56. 2001 Joseph Stiglitz Born February 9, 1943 Nationality – United States • Joseph Eugene Stiglitz • American economist • He was honoured with George Akerlof and Joseph Stiglitz “for their analyses of markets with information asymmetry”
  57. 57. 2002 Daniel Kahneman Born March 5, 1934 Nationality – Israel/United States • Israeli psychologist and economist • He was honoured “for having integrated insights from psychological research into economical science especially concerning human judgment and decision-making under uncertainty”
  58. 58. 2002 Vernon L. Smith Born January 1, 1927 Nationality – United States • Vernon Lomax Smith • American economist • He was honoured “for having established laboratory experiment as a tool in empirical economic analysis, especially in the study of alternative market mechanisms”
  59. 59. 2003 Robert F. Engle Born November 10, 1942 Nationality – United States • Robert Fry Engle III • American statistician • He was honoured “methods of analyzing economic time series with time-varying volatility (ARCH)”
  60. 60. 2003 Clive Granger Lifetime: 4 September 1934 – 27 May 2009 Nationality – United Kingdom • Sir Clive William John Granger • British econometrician • He was honoured “for methods of analyzing economic time series with common trends (cointegration)”
  61. 61. 2004 Finn E. Kydland Born 1 December 1943 Nationality - Norway • Finn Erling Kydland • Norwegian economist • He was honoured with Edward C. Prescott “for their contributions to dynamic macro-economics: the time consistency of economic policy and the driving forces behind business cycles”
  62. 62. 2004 Edward C. Prescott Born December 26, 1940 Nationality – United States • Edward Christian Prescott • American economist • He was honoured with Finn E. Kydland “for their contributions to dynamic macro-economics: the time consistency of economic policy and the driving forces behind business cycles”
  63. 63. 2005 Robert J. Aumann Born June 8, 1930 Nationality – United States/Israel • Robert John Aumann • Israeli American mathematician • He was honoured with Thomas C, Schelling “for having enhanced our understanding of conflict and cooperation through game-theory analysis”
  64. 64. 2005 Thomas C. Schelling Lifetime: April 14, 1921 – December 13, 2016 Nationality – United States • Thomas Crombie Schelling • American economist • He was honoured with Robert J. Aumann “for having enhanced our understanding of conflict and cooperation through game-theory analysis”
  65. 65. 2006 Edmund S. Phelps Born July 26, 1933 Nationality – United States • Edmund Strother Phelps • American economist • He was honoured “for his analysis of intertemporal tradeoffs in macroeconomic policy”
  66. 66. 2007 Leonid Hurwicz Lifetime: August 21, 1917 – June 24, 2008 Nationality – Poland/United States • Leonid "Leo" Hurwicz • Polish American economist and mathematician • He was honoured with Eric S. Maskin and Roger Myerson “for having laid the foundations of mechanism design theory”
  67. 67. 2007 Eric S. Maskin Born December 12, 1950 Nationality – United States • Eric Stark Maskin • American economist • He was honoured with Leonid Hurwicz and Roger Myerson “for having laid the foundations of mechanism design theory”
  68. 68. 2007 Roger Myerson Born March 29, 1951 Nationality – United States • Roger Bruce Myerson • American economist • He was honoured with Leonid Hurwicz and Eric S. Maskin “for having laid the foundations of mechanism design theory”
  69. 69. 2008 Paul Krugman Born February 28, 1953 Nationality – United States • Paul Robin Krugman • American economist • He was honoured “for his analysis of trade patterns and location of economic activity”
  70. 70. 2009 Elinor Ostrom Lifetime: August 7, 1933 – June 12, 2012 Nationality – United States • Elinor Claire "Lin" Ostrom • American political economist • She was honoured “for her analysis of economic governance, especially the boundaries of the firm”
  71. 71. 2009 Oliver E. Williamson Lifetime: September 27, 1932 – May 21, 2020 Nationality – United States • Oliver Eaton Williamson • American economist • He was honoured “for his analysis of economic governance, especially the boundaries of the firm”
  72. 72. 2010 Peter A. Diamond Born April 29, 1940 Nationality – United States • Peter Arthur Diamond • American economist • He was honoured with Dale T. Mortensen and Christopher A. Pissarides “for their analysis of markets with search frictions”
  73. 73. 2010 Dale T. Mortensen Lifetime: February 2, 1939 – January 9, 2014 Nationality – United States • Dale Thomas Mortensen • American economist • He was honoured with Peter A. Diamond and Christopher A. Pissarides “for their analysis of markets with search frictions”
  74. 74. 2010 Christopher A. Pissarides Born 20 February 1948 Nationality – Cyprus/United Kingdom • Sir Christopher Antoniou Pissarides FBA • He is a British Cypriot economist • He was honoured with Peter A. Diamond and Dale T. Mortensen “for their analysis of markets with search frictions”
  75. 75. 2011 Thomas J. Sargent Born July 19, 1943 Nationality – United States • Thomas John Sargent • American economist • He was honoured with Christopher A. Sims “for their empirical research on cause and effect in the macroeconomy”
  76. 76. 2011 Christopher Sims Born October 21, 1942 Nationality – United States • Christopher Albert "Chris" Sims • American econometrician and macroeconomist • He was honoured with Thomas J. Sargent “for their empirical research on cause and effect in the macroeconomy”
  77. 77. 2012 Alvin E. Roth Born December 18, 1951 Nationality – United States • Alvin Elliot Roth • American economist • He was honoured with Lloyd B. Shapley “for the theory of stable allocations and the practice of market design”
  78. 78. 2012 Lloyd S. Shapley Lifetime: June 2, 1923 – March 12, 2016 Nationality – United States • Lloyd Stowell Shapley • American mathematician • He was honoured with Alvin E. Roth “for the theory of stable allocations and the practice of market design”
  79. 79. 2013 Eugene F. Fama Born February 14, 1939 Nationality – United States • Eugene Francis "Gene" Fama • American economist • He was honoured with Lars Peter Hansen and Robert J. Shiller “for their empirical analysis of asset prices”
  80. 80. 2013 Lars Peter Hansen Born 26 October 1952 Nationality – United States • Lars Peter Hansen • American economist • He was honoured with Eugene F. Fama and Robert J. Shiller “for their empirical analysis of asset prices”
  81. 81. 2013 Robert J. Shiller Born March 29, 1946 Nationality – United States • Robert James Shiller • American economist • He was honoured with Eugene F. Fama and Lars Peter Hansen “for their empirical analysis of asset prices”
  82. 82. 2014 Jean Tirole Born 9 August 1953 Nationality - France • French economist • He was honoured “for his analysis of market power and regulation”
  83. 83. 2015 Angus Deaton Born 19 October 1945 Nationality – United Kingdom/United States • Sir Angus Stewart Deaton FBA • British American economist • He was honoured “for his analysis of consumption, poverty and welfare”
  84. 84. 2016 Oliver Hart Born October 9, 1948 Nationality – United Kingdom/United States • Oliver Simon D'Arcy Hart • British born American economist • He was honoured with Bengt Holmstrom “for their contributions t o contract theory”
  85. 85. 2016 Bengt Holmstrom Born 18 April 1949 Nationality - Finland • Bengt Robert Holmstrom • Finnish economist • He was honoured with Oliver Hart “for their contributions t o contract theory”
  86. 86. 2017 Richard H. Thaler Born September 12, 1945 Nationality – United States • American economist • He was honoured “for his contributions to behavioral economics”
  87. 87. 2018 William Nordhaus Born May 31, 1941 Nationality – United States • William Dawbney Nordhaus • American economist • He was honoured for “integrating climate change into long-run macroeconomic analysis”
  88. 88. 2018 Paul Romer Born November 6, 1955 Nationality – United States • Paul Michael Romer • American economist • He was honoured “for integrating technological innovations into long- run macroeconomic analysis”
  89. 89. 2019 Abhijit Banerjee Born 21 February 1961 Nationality - India • Abhijit Vinayak Banerjee • Indian American economist • He was honoured with Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”
  90. 90. 2019 Esther Duflo Born 25 October 1972 Nationality – France/United States • Esther Duflo FBA • French American economist • She was honoured with Abhijit Banerjee and Michael Kremer “for their experimental approach to alleviating global poverty”
  91. 91. 2019 Michael Kremer Born November 12, 1964 Nationality – United States • Michael Robert Kremer • American development economist • He was honoured with Abhijit Banerjee and Esther Duflo “for their experimental approach to alleviating global poverty”
  92. 92. THANK YOU

The Nobel Memorial Prize in Economic Sciences was established in 1968 by a donation from the Swedish Central Bank ((Sveriges Riksbank). The award is considered the Nobel Award of Economics and is administered annually by the Nobel Foundation, at the same ceremony as the five Nobel Prizes established by Alfred Nobel in 1895. It is not, strictly, a Nobel Prize. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, as translated from Swedish, is awarded by the Swedish Academy of Sciences. The following slides present an overview of the laureates from 1968 to 2019.

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