The Nobel Memorial Prize in Economic Sciences was spearheaded by the Bank of Sweden to give yearly recognition to those individuals who have substantially contributed to economics for the good of mankind. It is considered to be the most prestigious award in the field of economics and is identified with the Nobel Prizes. Usually referred by the Nobel Foundation as the Prize in Economics, it was instituted in 1968 during the 300th anniversary of the central bank of Sweden in memory of Alfred Nobel.

Economic 2008 nobel winner

Although there are several arguments criticising the Nobel Prize in Economic Sciences, it is still a source of positive driving force for economists to excel in their chosen field.

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