Timeline Nobel Prize in Economic Sciences

Nobel Prize in Economic Sciences 58

• 1969 Frisch and Tinbergen win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1969 Ragnar Frisch and Jan Tinbergen, for dynamic models for analysing economic processes — the first prize in economic sciences.
• 1970 Paul Samuelson wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1970 Paul Samuelson, for raising the level of analysis in economic science — the first American economics laureate.
• 1971 Simon Kuznets wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1971 Simon Kuznets, for his empirical work on economic growth and national income.
• 1972 Hicks and Arrow win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1972 John Hicks and Kenneth Arrow, for general equilibrium theory and welfare theory.
• 1973 Wassily Leontief wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1973 Wassily Leontief, for the input-output method.
• 1974 Myrdal and Hayek win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1974 Gunnar Myrdal and Friedrich Hayek, for work on the theory of money and fluctuations and the interdependence of economic, social and institutional phenomena.
• 1975 Kantorovich and Koopmans win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1975 Leonid Kantorovich and Tjalling Koopmans, for the theory of the optimal allocation of resources.
• 1976 Milton Friedman wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1976 Milton Friedman, for consumption analysis, monetary history and theory, and the complexity of stabilisation policy.
• 1977 Ohlin and Meade win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1977 Bertil Ohlin and James Meade, for the theory of international trade and capital movements.
• 1978 Herbert Simon wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1978 Herbert Simon, for research into decision-making within economic organisations.
• 1979 Schultz and Lewis win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1979 Theodore Schultz and Arthur Lewis, for research into economic development, especially in developing countries. Lewis was the first Black economics laureate.
• 1980 Lawrence Klein wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1980 Lawrence Klein, for econometric models and their use in analysing economic fluctuations and policy.
• 1981 James Tobin wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1981 James Tobin, for his analysis of financial markets and their relation to spending, employment and prices.
• 1982 George Stigler wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1982 George Stigler, for studies of industrial structures, markets and the effects of public regulation.
• 1983 Gérard Debreu wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1983 Gérard Debreu, for new analytical methods in economic theory and his reformulation of general equilibrium theory.
• 1984 Richard Stone wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1984 Richard Stone, for developing systems of national accounts.
• 1985 Franco Modigliani wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1985 Franco Modigliani, for analyses of saving and of financial markets.
• 1986 James Buchanan wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1986 James Buchanan, for public choice theory — the economics of political decision-making.
• 1987 Robert Solow wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1987 Robert Solow, for his theory of economic growth.
• 1988 Maurice Allais wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1988 Maurice Allais, for the theory of markets and the efficient use of resources.
• 1989 Trygve Haavelmo wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1989 Trygve Haavelmo, for the probability theory foundations of econometrics.
• 1990 Markowitz, Miller and Sharpe win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1990 Harry Markowitz, Merton Miller and William Sharpe, for pioneering work in the theory of financial economics.
• 1991 Ronald Coase wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1991 Ronald Coase, for showing the significance of transaction costs and property rights for the structure of the economy.
• 1992 Gary Becker wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1992 Gary Becker, for extending economic analysis to a wide range of human behaviour.
• 1993 Fogel and North win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1993 Robert Fogel and Douglass North, for renewing research in economic history with economic theory and quantitative methods.
• 1994 Harsanyi, Nash and Selten win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1994 John Harsanyi, John Nash and Reinhard Selten, for pioneering analysis of equilibria in non-cooperative game theory.
• 1995 Robert Lucas wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1995 Robert Lucas, for developing the hypothesis of rational expectations.
• 1996 Mirrlees and Vickrey win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1996 James Mirrlees and William Vickrey, for the economic theory of incentives under asymmetric information. Vickrey died three days after the announcement.
• 1997 Merton and Scholes win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1997 Robert Merton and Myron Scholes, for a new method to determine the value of derivatives — the Black-Scholes formula.
• 1998 Amartya Sen wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1998 Amartya Sen, for his contributions to welfare economics.
• 1999 Robert Mundell wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 1999 Robert Mundell, for analysing monetary and fiscal policy under different exchange rates, and optimum currency areas.
• 2000 Heckman and McFadden win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2000 James Heckman and Daniel McFadden, for methods to analyse individual and household data.
• 2001 Akerlof, Spence and Stiglitz win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2001 George Akerlof, Michael Spence and Joseph Stiglitz, for analyses of markets with asymmetric information.
• 2002 Kahneman and Smith win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2002 Daniel Kahneman for bringing psychology into economics, and Vernon Smith for laboratory experiments in economic analysis.
• 2003 Engle and Granger win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2003 Robert Engle and Clive Granger, for methods of analysing economic time series.
• 2004 Kydland and Prescott win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2004 Finn Kydland and Edward Prescott, for work on the time consistency of economic policy and the driving forces behind business cycles.
• 2005 Aumann and Schelling win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2005 Robert Aumann and Thomas Schelling, for game-theory analysis of conflict and cooperation.
• 2006 Edmund Phelps wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2006 Edmund Phelps, for his analysis of the trade-off between inflation and unemployment over time.
• 2007 Hurwicz, Maskin and Myerson win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2007 Leonid Hurwicz, Eric Maskin and Roger Myerson, for the foundations of mechanism design theory. Hurwicz, 90, became the oldest laureate.
• 2008 Paul Krugman wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2008 Paul Krugman, for his analysis of trade patterns and the location of economic activity.
• 2009 Ostrom and Williamson win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2009 Elinor Ostrom for her analysis of the governance of the commons — the first woman to win the economics prize — and Oliver Williamson for the boundaries of the firm.
• 2010 Diamond, Mortensen and Pissarides win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2010 Peter Diamond, Dale Mortensen and Christopher Pissarides, for the analysis of markets with search frictions.
• 2011 Sargent and Sims win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2011 Thomas Sargent and Christopher Sims, for empirical research on cause and effect in the macroeconomy.
• 2012 Roth and Shapley win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2012 Alvin Roth and Lloyd Shapley, for the theory of stable allocations and the practice of market design.
• 2013 Fama, Hansen and Shiller win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2013 Eugene Fama, Lars Peter Hansen and Robert Shiller, for their empirical analysis of asset prices.
• 2014 Jean Tirole wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2014 Jean Tirole, for his analysis of market power and regulation.
• 2015 Angus Deaton wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2015 Angus Deaton, for his analysis of consumption, poverty and welfare.
• 2016 Hart and Holmström win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2016 Oliver Hart and Bengt Holmström, for contributions to contract theory.
• 2017 Richard Thaler wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2017 Richard Thaler, for his contributions to behavioural economics.
• 2018 Nordhaus and Romer win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2018 William Nordhaus for integrating climate change into long-run macroeconomic analysis, and Paul Romer for technological innovation.
• 2019 Banerjee, Duflo and Kremer win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2019 Abhijit Banerjee, Esther Duflo and Michael Kremer, for their experimental approach to alleviating global poverty.
• 2020 Milgrom and Wilson win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2020 Paul Milgrom and Robert Wilson, for improvements to auction theory and new auction formats.
• 2021 Card, Angrist and Imbens win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2021 David Card for empirical contributions to labour economics, and Joshua Angrist and Guido Imbens for the analysis of causal relationships.
• 2022 Bernanke, Diamond and Dybvig win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2022 Ben Bernanke, Douglas Diamond and Philip Dybvig, for research on banks and financial crises.
• 2023 Claudia Goldin wins the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2023 Claudia Goldin, for advancing our understanding of womens labour market outcomes.
• 2024 Acemoglu, Johnson and Robinson win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2024 Daron Acemoglu, Simon Johnson and James Robinson, for studies of how institutions are formed and affect prosperity.
• 2025 Mokyr, Aghion and Howitt win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2025 Joel Mokyr, Philippe Aghion and Peter Howitt, for explaining innovation-driven economic growth.
• 2026 Robert E. Hall and Michael Woodford win the Nobel Prize in Economic Sciences Nobel Prize in Economic Sciences 2026 Robert E. Hall and Michael Woodford, for the microeconomic foundations of macroeconomic stabilisation — how central banks and governments can steady the economy.