Nobel Prize in Economics to Be Announced Today

This prestigious honour is awarded to economists whose research has significantly deepened our understanding of the global economy and offered solutions to real-world challenges. The laureate will receive a cash prize of 11 million Swedish Kronor (approx. ₹10.3 crore), along with a gold medal and a certificate. If multiple economists are selected, the prize money will be shared among them. The awards will be formally presented on December 10 in Stockholm.

Leading Contenders for the 2025 Nobel in Economics

According to media reports, several notable economists are being considered frontrunners for this year’s prize:

• Marianne Bertrand (University of Chicago Booth School of Business) and Sendhil Mullainathan (Massachusetts Institute of Technology – MIT)
  Focus: Pioneering research on racial and gender discrimination in the labour market, corporate governance, and behavioural economics.
• Nicholas Bloom (Stanford University)
  Focus: Studies on how economic and political uncertainty — including events like Brexit and Covid-19 — affects businesses, employment, and overall economic growth.

Bertrand’s extensive work on workplace inequality and firm management practices has also been repeatedly cited as a possible reason for nomination.

How the Nobel Announcement Takes Place

The Nobel in Economic Sciences will be declared at the session hall of the Royal Swedish Academy of Sciences in Stockholm. Academy representatives will announce the winners, outline their research contributions, and discuss the broader impact of their work at a press conference.

The announcement will be streamed live on nobelprize.org, YouTube, and official Nobel social media channels.

Only Two Indians Have Won the Nobel in Economics So Far

India has produced two Nobel laureates in the field of economics:

• Amartya Sen (1998) – Recognised for developing new frameworks to understand and measure poverty, inequality, and human well-being. His research showed that famines are not just caused by food scarcity but also by economic and social inequalities, and he proposed that poverty should be assessed using indicators like education and health, not just income.
• Abhijit Banerjee (2019) – Honoured for his experimental approach to alleviating global poverty, alongside Esther Duflo and Michael Kremer. Their research used small-scale field experiments to test which anti-poverty measures — such as providing free textbooks or tutoring — yield the best outcomes for disadvantaged communities.

A Brief History of the Nobel Prize in Economics

The Nobel Prizes were first established in 1895 through the will of Alfred Bernhard Nobel, the Swedish scientist and inventor of dynamite. The first awards were presented in 1901 in the fields of Physics, Chemistry, Medicine, Literature, and Peace.

The Economics Prize, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was introduced later by the Swedish Central Bank in 1968 and first awarded in 1969.

According to the Nobel Foundation, the names of nominees remain confidential for 50 years after the award year.

Last Year’s Nobel in Economics (2024)

In 2024, the prize was jointly awarded to three American economists — Daron Acemoglu and Simon Johnson (both from MIT), and James A. Robinson (University of Chicago) — for their groundbreaking work on the role of institutions in shaping a nation’s wealth and poverty.

Their research demonstrated that a country's prosperity depends heavily on the quality of its institutions. Inclusive institutions — those that ensure fair elections, an independent judiciary, secure property rights, and transparency — promote shared prosperity. In contrast, extractive institutions that serve only the elite hinder economic progress and trap nations in cycles of poverty