The Sveriges Riksbank Prize in Economic Sciences 2008

The Royal Swedish Academy of Sciences has awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 to Paul Krugman. The prize is awarded for the theory Krugman formulated which answers the effects of free trade and globalization and the driving forces behind worldwide urbanization. Paul Krugman is a Professor of Economics and International Affairs at Princeton University, US. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is commonly referred to as the Nobel Prize in Economics and it is identified with the Nobel Prizes, although it is not one of the five Nobel Prizes. The Prize in Economics, as it is frequently referred to by the Nobel Foundation, is a prize established and funded by the Bank of Sweden, in memory of Alfred Nobel. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, “for having developed and applied dynamic models for the analysis of economic processes.”