Table Listing the Prize in Economics Sciences 1969–2006

Year	Laureate	Field	Prize Citation
1969	Ragnar Frisch Oslo University Jan Tinbergen The Netherland School of Economics	Econometrics	For having developed and applied dynamic models for the analysis of economic processes
1970	Paul A. Samuelson Massachusetts Institute of Technology	Partial and General Equilibrium Theory	For the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science
1971	Simon Kuznets Harvard University	Economic Growth and Economic History	For his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development
1972	Sir John R. Hicks Oxford University Kenneth J. Arrow Harvard University	General Equilibrium Theory	For their pioneering contributions to general economic equilibrium theory and welfare theory
1973	Wassily Leontief Harvard University	Input-Output Analysis	For the development of the input-output method and for its application to important economic problems
1974	Gunnar Myrdal University of Stockholm Friedrich von Hayek University of Freiburg	Macroeconomics and Institutional Economics	For their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena
1975	Leonid Kantorovich Academy of Sciences, Moscow Tjalling C. Koopmans Yale University	Theory of Optimum Allocation of Resources	For their contributions to the theory of optimum allocation of resources
1976	Milton Friedman University of Chicago	Macroeconomics	For his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy
1977	Bertil Ohlin Stockholm School of Economics James E. Meade Cambridge University	International Economics	For their pathbreaking contribution to the theory of international trade and international capital movements
1978	Herbert A. Simon Carnegie-Mellon University	Administrative (Management) Science	For his pioneering research into the decision-making process within economic organizations
1979	Theodore W. Schultz University of Chicago Sir Arthur Lewis Princeton University	Development Economics	For their pioneering research into economic development, with particular consideration of the problems of developing countries
1980	Lawrence R. Klein University of Pennsylvania	Macroeconometrics	For the creation of econometric models and their application to the analysis of economic fluctuations and economic policies
1981	James Tobin Yale University	Macroeconomics	For his analysis of financial markets and their relations to expenditure decisions, employment, production and prices
1982	George J. Stigler University of Chicago	Industrial Organization	For his seminal studies of industrial structure, functioning of markets and causes and effects of public regulation
1983	Gerard Debreu University of California, Berkeley	General Equilibrium Theory	For having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium
1984	Sir Richard Stone Cambridge University	National Income Accounting	For having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis
1985	Franco Modigliani Massachusetts Institute of Technology	Macroeconomics	For his pioneering analyses of saving and of financial markets
1986	James M. Buchanan, Jr. George Mason University	Public Finance	For his development of the contractual and constitutional bases for the theory of economic and political decision-making
1987	Robert M. Solow Massachusetts Institute of Technology	Economic Growth Theory	For his contributions to the theory of economic growth
1988	Maurice Allais École Nationale Supérieur des Mines de Paris	Partial and General Equilibrium Theory	For his pioneering contributions to the theory of markets and efficient utilization of resources
1989	Trygve Haavelmo University of Oslo	Econometrics	For his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures
1990	Harry M. Markowitz City University of New York Merton M. Miller University of Chicago William F. Sharpe Stanford University	Financial Economics	For their pioneering work in the theory of financial economics
1991	Ronald H. Coase University of Chicago	Theory of Institutions	For his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy
1992	Gary S. Becker University of Chicago	Microeconomics and Economic Sociology	For having extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior
1993	Robert W. Fogel University of Chicago Douglass C. North Washington University, St. Louis	Economic History	For having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change
1994	John C. Harsanyi University of California, Berkeley John F. Nash Princeton University Reinhard Selten Rheinische Friedrich- Wilhelms-Universität, Bonn	Game Theory	For their pioneering analysis of equilibria in the theory of non-cooperative games
1995	Robert E. Lucas, Jr. University of Chicago	Macroeconomics	For having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy
1996	James A. Mirrlees University of Cambridge William Vickrey Columbia University	Economics of Information	For their fundamental contributions to the economic theory of incentives under asymmetric information
1997	Robert C. Merton Harvard University Myron S. Scholes Stanford University	Financial Economics	For a new method to determine the value of derivatives
1998	Amartya Sen University of Cambridge	Welfare Economics	For his contributions to welfare economics
1999	Robert A. Mundell Columbia University	International Macroeconomics	For his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas
2000	James J. Heckman University of Chicago Daniel L. McFadden University of California	Econometrics	For his development of theory and methods for analyzing selective samples For his development of theory and methods for analyzing discrete choice
2001	George A. Akerlof University of California A. Michael Spence Stanford University Joseph E. Stiglitz Columbia University	Economics of information	For their analyses of markets with asymmetric information
2002	Daniel Kahneman Princeton University Vernon L. Smith George Mason University	Economic psychology and experimental economics	For having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty For having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms
2003	Robert F. Engle New York University Clive W. J. Granger University of California	Econometrics	For methods of analyzing economic time series with time-varying volatility (ARCH) For methods of analyzing economic time series with common trends (cointegration)
2004	Finn E. Kydland Carnegie Mellon University Edward C. Prescott Arizona State University	Macroeconomics	For their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles
2005	Robert J. Aumann Hebrew University of Jerusalem Thomas C. Schelling University of Maryland	Game Theory	For having enhanced our understanding of conflict and cooperation through game-theory analysis
2006	Edmund S. Phelps Columbia University	Macroeconomics	For his analysis of intertemporal tradeoffs in macroeconomic policy
2007	Leonid Hurwicz University of Minnesota Eric S. Maskin Princeton University Roger B. Myerson University of Chicago	Microeconomics	For having laid the foundations of mechanism design theory

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