Nobel Prize in Economics
October 25, 2021
The Nobel Prize in Economics was established by the Swedish National Bank (Sveriges Riksbank) on its 300th anniversary in 1968. Its aim was to recognize achievements in the field of economics, and this was to be achieved in addition to the Nobel Prizes. The Nobel Foundation eventually supported this initiative, although the legitimacy of the decision is disputed by many. The award was first given in 1969. The official name of the prize: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne (Swedish National Bank Economics Prize in memory of Alfred Nobel), but in short it is commonly referred to as the Nobel Prize in Economics. The prize is awarded by the Swedish Academy of Sciences and amounts to SEK 10,000,000, which is equivalent to approximately EUR 1,000,000.