Alfred Nobel Memorial Economics Prize

Article

October 17, 2021

The Swedish National Bank's Prize in Economics in Memory of Alfred Nobel (Swedish: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), unofficially the Nobel Prize in Economics, is a prize established by the Bank of Sweden in memory of Alfred Nobel and awarded for achievements in the field of economic sciences. The prize is awarded once a year by the Royal Swedish Academy of Sciences. It is the most prestigious award in the field of economics. Unlike other prizes awarded at the Nobel Prize ceremony, this prize is not the legacy of Alfred Nobel. Established in 1969. As of the end of 2020, the prize has been awarded 52 times, with 86 academic economists being awarded. The Nobel Prize Laureate in Economics is announced on the second Monday in October. The award ceremony takes place in Stockholm on December 10 each year at the Stockholm City Hall.

Who can nominate candidates

According to the charter of the Nobel Foundation, the following persons can nominate candidates: members of the Royal Swedish Academy of Sciences; members of the A. Nobel Memorial Prize Committee in Economics; laureates of the A. Nobel Memorial Prize in Economics; permanent professors of the relevant disciplines of universities and universities in Sweden, Denmark, Finland, Iceland and Norway; heads of relevant departments of at least six universities or institutes selected by the Academy of Sciences; other scientists from whom the Academy deems it necessary to accept proposals. Decisions regarding the selection of teachers and scientists referred to in paragraphs 5 and 6 must be made annually by the end of September.

Laureate selection process

The process of choosing a laureate for the next prize includes the following stages: The Nobel Committee sends about 3000 forms of the established sample for filling out to famous scientists whom the Nobel Foundation deemed worthy to participate in the election of the laureate of the prize (September of the year preceding the presentation of the prize). The Nobel Committee processes the already completed forms received (the deadline for receipt is January 31) and selects candidates who are mentioned at least several times (usually 250-350 scientists) (February). The Nobel Committee invites specially selected experts

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