Nobel Memorial Prize in Economic Sciences
|Awarded for||Outstanding contributions in Economic Sciences|
|Reward(s)||9 million |
|Currently held by|
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of
The prize was established in 1968 by a donation from Sweden's central bank, the
Laureates in the Memorial Prize in Economics are selected by the
An endowment "in perpetuity" from Sveriges Riksbank pays the Nobel Foundation's administrative expenses associated with the prize and funds the monetary component of the award.
Since 2012, the monetary portion of the Prize in Economics has totaled 8 million
The Prize in Economics is not one of the Nobel Prizes, which were endowed by
Laureates are announced with the Nobel Prize laureates, and receive the award at the same ceremony. The Royal Swedish Academy of Sciences awards the prize "in accordance with the rules governing the award of the Nobel Prizes instituted through his [Alfred Nobel's] will", which stipulate that the prize be awarded annually to "those who ... shall have conferred the greatest benefit on mankind".