Herbert Simon's set of chess that he chose to donate to the Nobel Museum in Stockholm, Sweden.

© Nobel Media. Photo: Alexander Mahmoud

Facts on the prize in economic sciences

In 1968, Sveriges Riksbank (Sweden’s central bank) established this prize in memory of Alfred Nobel, founder of the Nobel Prize. Here are some facts and figures regarding The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, awarded from 1969 to 2023.

Number of prizes in economic sciences

55 prizes in economic sciences have been awarded every year since 1969.
26 prizes in economic sciences have been given to one laureate only.
20 prizes in economic sciences have been shared by two laureates.
9 prizes in economic sciences have been shared between three laureates.

Number of economic sciences laureates

93 individuals have been awarded 1969-2023.

List of all economic sciences laureates

Youngest economic sciences laureate

To date, the youngest economic sciences laureate is Esther Duflo, who was 46 years old when she was awarded in 2019.

Oldest economic sciences laureate

The oldest economic sciences laureate to date is Leonid Hurwicz, who was 90 years old when he was awarded in 2007.

Female economic sciences laureates

Elinor Ostrom became the first female economic sciences laureate when awarded the prize in 2009. Esther Duflo was awarded the prize in 2019 and Claudia Goldin in 2023. 

List of all female Nobel Prize laureates

Multiple economic sciences laureates

So far there are no multiple economic sciences laureates.

Multiple Nobel Prize laureates within other prize categories

No posthumous prizes in economic sciences

There have been no posthumous prizes in economic sciences. From 1974, the Statutes of the Nobel Foundation stipulate that a prize cannot be awarded posthumously, unless death has occurred after the announcement of the prize. Before 1974, the Nobel Prize has only been awarded posthumously twice: to Dag Hammarskjöld (Nobel Peace Prize 1961) and Erik Axel Karlfeldt (Nobel Prize in Literature 1931). 

However, William Vickrey passed away just a few days after the announcement, and was not able to accept the prize in person. 

Family economic sciences laureates

Jan Tinbergen
(economic sciences prize 1969) and Nikolaas Tinbergen (medicine prize 1973)

Married couple:
Gunnar Myrdal (economic sciences prize 1974) and Alva Myrdal (peace prize 1982)

The medal for the prize in economic sciences

The medal in economic sciences was designed by Swedish artist and sculptor Gunvor Svensson-Lundqvist and shows the North Star emblem of the Royal Swedish Academy of Sciences.

Read more about the medal for the prize in economic sciences

The diplomas

Each diploma is a unique work of art, created by foremost Swedish and Norwegian artists and calligraphers.

More about the diplomas

Thomas J. Sargent - Nobel Diploma

Thomas J. Sargent – Nobel Diploma

Copyright © The Nobel Foundation 2011, Artist: Susanne Jardeback, Calligrapher: Annika Rücker, Book binder: Ingemar Dackéus, Photo reproduction: Lovisa Engblom

The prize amount

Alfred Nobel left most of his estate, more than SEK 31 million (today approximately SEK 1,702 million) to be converted into a fund and invested in “safe securities.” The income from the investments was to be “distributed annually in the form of prizes to those who during the preceding year have conferred the greatest benefit to humankind.”

The prize amount for 2023 was set at Swedish kronor (SEK) 11.0 million per full prize.

More about the prize amount

*Why are the individuals awarded a prize in economic sciences called laureates?

The word “laureate” refers to being signified by the laurel wreath. In Greek mythology, the god Apollo is represented wearing a laurel wreath on his head. A laurel wreath is a circular crown made of branches and leaves of the bay laurel (in Latin: Laurus nobilis). In Ancient Greece, laurel wreaths were awarded to victors as a sign of honour – both in athletic competitions and in poetic meets.

Links to more facts on the Nobel Prizes:
Facts on the Nobel Prize in Physics
Facts on the Nobel Prize in Chemistry
Facts on the Nobel Prize in Physiology or Medicine
Facts on the Nobel Prize in Literature
Facts on the Nobel Peace Prize
Facts on the Prize in Economic Sciences
Facts on all Nobel Prizes

First published 5 October 2009.


To cite this section
MLA style: Facts on the prize in economic sciences. NobelPrize.org. Nobel Prize Outreach AB 2024. Sun. 14 Jul 2024. <https://www.nobelprize.org/prizes/facts/facts-on-the-prize-in-economic-sciences>