page_title: Nobel Prize
section_title: Prize in Economic Sciences
hierarchical_section_title: Nobel Prize / History / Prize in Economic Sciences
caption_attribution_description: English: Map of Nobel Laureates by Country. Русский: Карта распределения нобелевских лауреатов по странам. Originally uploaded to the English Wikipedia under the same title, by en:User:Rokbas and licensed under the public domain.
context_page_description: The Nobel Prize is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances. The will of the Swedish chemist, engineer and industrialist Alfred Nobel established the five Nobel prizes in 1895. The prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901. The prizes are widely regarded as the most prestigious awards available in their respective fields.
  In 1968, Sveriges Riksbank, Sweden's central bank, established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The award is based on a donation received by the Nobel Foundation in 1968 from Sveriges Riksbank on the occasion of the bank's 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969. The Prize in Economic Sciences is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden, according to the same principles as for the Nobel Prizes that have been awarded since 1901. However, as it is not one of the prizes that Alfred Nobel established in his will in 1895, it is not a Nobel Prize.
context_section_description: In 1968, Sweden's central bank Sveriges Riksbank celebrated its 300th anniversary by donating a large sum of money to the Nobel Foundation to be used to set up a prize in honour of Alfred Nobel. The following year, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded for the first time. The Royal Swedish Academy of Sciences became responsible for selecting laureates. The first laureates for the Economics Prize were Jan Tinbergen and Ragnar Frisch "for having developed and applied dynamic models for the analysis of economic processes". The Board of the Nobel Foundation decided that after this addition, it would allow no further new prizes.
caption: Map of Nobel laureates by country
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