Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel

The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for oustanding intellectual contributions in the field of economics. The award was instituted by the Bank of Sweden (the world's oldest central bank) at its 300th anniversary in 1969. Although it was not one of the awards established in the will of Alfred Nobel, the economics laureates receive their diploma and gold medal from the Swedish monarch at the same December 10 ceremony in Stockholm as the Nobel laureates in physics, chemistry, physiology or medicine, and literature. The amount of money awarded to the economics laureates is also equal to that of the other prizes.

Award process

The economics laureates, like the Nobel laureates in chemistry and physics, are chosen by the Royal Swedish Academy of Sciences. Nominations of about one hundred living persons are made each year by qualified nominators and are received by a five to eight member committee, which then submits its choice of winners to the Nobel Assembly for its final approval. No more than three people can share the prize for a given year. The final award is made in Stockholm, and is accompanied by a prize (10 million Kronor, or roughly 1 million euros as of 2004).

Related Topics:
Chemistry - Physics - Royal Swedish Academy of Sciences - Kronor

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