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Nobel Memorial Prize in Economics to be Announced in Stockholm

The Royal Swedish Academy of Sciences will announce the Nobel memorial prize in economics on Monday in Stockholm. This award, formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, is the final prize in this year's cycle.

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Illustration for: Nobel Memorial Prize in Economics to be Announced in Stockholm

In brief

  • The Royal Swedish Academy of Sciences will announce the economics prize on Monday in Stockholm.
  • The prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
  • The prize money for this year is 12 million Swedish kronor, or about $1.2 million.
  • The economics prize is presented on Dec. 10, the anniversary of Alfred Nobel's death in 1896.

Nobel Memorial Prize in Economics to be Announced in Stockholm

The Nobel memorial prize in economics, the final award in this year's cycle, will be announced Monday by the Royal Swedish Academy of Sciences in Stockholm.

Prize Background and Status

The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes.

Nobel purists stress that the economics prize is technically not a Nobel Prize, but it is always presented together with the others on Dec. 10, the anniversary of Nobel’s death in 1896.

Previous Winners and Current Cycle

Last year, three researchers who study business innovation won for explaining how new products and inventions promote economic growth and human welfare, even as they leave older companies in the dust.

Nobel honors were announced last week in medicine, physics, chemistry, literature and peace.

Prize Money

The prize money this year is 12 million Swedish kronor (about $1.2 million), whether for an individual, small group of laureates or organization.

Sources

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.

Questions readers ask

When and where will the Nobel Memorial Prize in Economics be announced?
The prize will be announced Monday by the Royal Swedish Academy of Sciences in Stockholm.
Why is the economics prize not technically considered a Nobel Prize?
It is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel and was established by the central bank in 1968, rather than by Alfred Nobel himself.
Who won the economics prize last year?
Three researchers who study business innovation won last year for explaining how new products and inventions promote economic growth and human welfare.
How much prize money is awarded this year?
The prize money this year is 12 million Swedish kronor, which is about $1.2 million.

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