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Indian-American Among Awardees For Nobel In Economics

by GoNews Desk 1 month ago Views 697
Nobel prize for economics 2019
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Indian origin Abhijit Banerjee along with two others, Esther Duflo and Michael Kremer, were awarded the Nobel Prize in economics on Monday “for their experimental approach to alleviating global poverty”.

The research conducted by the 2019 Economic Sciences Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research, the Nobel Committee said.

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This year’s Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty. It divides this issue into smaller, more manageable questions – for example, the most effective interventions for improving child health.

2019 Economic Sciences Laureates Abhijit Banerjee and Esther Duflo, often with Michael Kremer, soon performed similar studies of other issues and in other countries, including India. Their experimental research methods now entirely dominate development economics, the Committee said. 

With the glory comes a 9 million-kronor ($918,000) cash award, a gold medal and a diploma. All but the winner of the Peace Prize will receive their awards on December 10 in Stockholm.