Scientist Richard H.Thaler currently works at the University of Chicago.(Photo: Chicago Booth Magazine)
In every Nobel season, the Economic Prize is often the last prize to be awarded after the Nobel Prize in Medicine, Chemistry, Physics, Literature and Peace.
Nobel Prize for economics is not an award given by Swedish scientist - Alfred Nobel. Since 1968, the Swedish Central Bank - Sveriges Riksbank has decided to create this award on the 300th anniversary of its founding. However, the process of nomination, selection and awarding of the Nobel Prize still takes place as every award is given to other fields. The Nobel Prize-winning scientist will be awarded 9 million Swedish kronor (about 1.1 million USD).
List of Nobel laureates in 2006 - 2016: