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,

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,
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,

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
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


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


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

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


For having laid the foundations of mechanism design theory

To cite this section
MLA style: Table listing the Prize in Economics Sciences 1969–2006. Nobel Prize Outreach AB 2024. Tue. 25 Jun 2024. <>