List of Nobel Memorial Prize laureates in Economic Sciences

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The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Stockholm. The winner of the prize was Paul Krugman. Nobel2008Economics news conference1.jpg
The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Stockholm. The winner of the prize was Paul Krugman.

The Nobel Memorial Prize in Economic Sciences, officially known as The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an award funded by Sveriges Riksbank and is annually awarded by the Royal Swedish Academy of Sciences to researchers in the field of economic sciences. [1] The first prize was awarded in 1969 to Ragnar Frisch and Jan Tinbergen. [2] Each recipient receives a medal, a diploma and a monetary award that has varied throughout the years. [3] In 1969, Frisch and Tinbergen were given a combined 375,000 SEK, which is equivalent to 2,871,041 SEK in December 2007. The award is presented in Stockholm at an annual ceremony on December 10, the anniversary of Nobel's death. [4]

Contents

As of the awarding of the 2023 prize, 55 Prizes in Economic Sciences have been given to 93 individuals. [5] As of October 2023, the department of economics with the most affiliated laureates in economic sciences is the University of Chicago, [6] [7] with 16 affiliated laureates. As of 2023, the institutions with the most PhD (or equivalent) graduates who went on to receive the prize are Harvard University and MIT (13 each), followed by the University of Chicago (10). As of 2024, the institutions with the most affiliated faculty at the time of the award are the University of Chicago (15), followed by MIT (10), then by Princeton University and Harvard University (8 each).

Laureates

YearPortraitLaureate
(birth/death)
CountryRationalePhD (or equivalent) alma materInstitution (most significant tenure/at time of receipt)Key contributions (non-exhaustive)
1969 Uio frisch 2006 0025.jpg Ragnar Frisch
(1895–1973)
Flag of Norway.svg  Norway      "for having developed and applied dynamic models for the analysis of economic processes" [2] University of Oslo University of Oslo Frisch–Waugh–Lovell theorem, Conjectural variation
Jan Tinbergen 1982.jpg Jan Tinbergen
(1903–1994)
Flag of the Netherlands.svg  Netherlands Leiden University Erasmus University Econometrics, Policy instruments
1970 Paul Samuelson.gif Paul Samuelson
(1915–2009)
Flag of the United States.svg  United States "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" [8] Harvard University Massachusetts Institute of Technology Revealed preference, Samuelson condition, Social Welfare Function, Efficient-market hypothesis, Turnpike theory, Balassa–Samuelson effect, Stolper–Samuelson theorem, Overlapping generations model
1971  Simon Kuznets 1971b.jpg Simon Kuznets
(1901–1985)
Flag of the United States.svg  United States "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" [9] Columbia University Harvard University Gross domestic product, Capital formation, Kuznets cycle, Kuznets curve
1972 John Hicks 1972.jpg John Hicks
(1904–1989)
Flag of the United Kingdom.svg  United Kingdom "for their pioneering contributions to general economic equilibrium theory and welfare theory" [10] University of Oxford University of Oxford IS–LM model, Hicksian demand function, substitution effect, income effect, Kaldor–Hicks efficiency
Kenneth Arrow, Stanford University.jpg Kenneth Arrow
(1921–2017)
Flag of the United States.svg  United States Columbia University Harvard University Fundamental theorems of welfare economics, Arrow's impossibility theorem, Arrow–Debreu model, Endogenous growth theory,
1973  Wassily Leontief 1973.jpg Wassily Leontief
(1905–1999)
Flag of the Soviet Union.svg Soviet Union
Flag of the United States.svg  United States
"for the development of the input-output method and for its application to important economic problems" [11] University of Berlin Harvard University Input–output model, Leontief paradox
 1974 Gunnar Myrdal - Sveriges styresman.jpg Gunnar Myrdal
(1898–1987)
Flag of Sweden.svg  Sweden "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" [12] Stockholm University Stockholm University Circular cumulative causation
Friedrich Hayek portrait.jpg Friedrich Hayek
(1899–1992)
Flag of Austria.svg  Austria
Flag of the United Kingdom.svg  United Kingdom
University of Vienna Austrian business cycle theory, Economic calculation problem, Spontaneous order, Information economics
1975 Leonid Kantorovich 1975.jpg Leonid Kantorovich
(1912–1986)
Flag of the Soviet Union.svg Soviet Union "for their contributions to the theory of optimum allocation of resources" [13] Leningrad State University Novosibirsk State University Linear programming, Kantorovich theorem, Kantorovich inequality, Kantorovich metric
TjallingKoopmans1967 (cropped).jpg Tjalling Koopmans
(1910–1985)
Flag of the Netherlands.svg  Netherlands
Flag of the United States.svg  United States
University of Leiden Linear programming
1976 Portrait of Milton Friedman (3x4 cropped).jpg Milton Friedman
(1912–2006)
Flag of the United States.svg  United States "for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilisation policy" [14] Columbia University University of Chicago Monetarism, Permanent income hypothesis, Natural rate of unemployment, Sequential analysis, Helicopter money, Great Contraction, Friedman rule, Friedman–Savage utility function, Friedman test
1977 BertilOhlin.jpg Bertil Ohlin
(1899–1979)
Flag of Sweden.svg  Sweden "for their pathbreaking contribution to the theory of international trade and international capital movements" [15] Stockholm University Stockholm School of Economics Heckscher–Ohlin model
James Meade Nobel (cropped).jpg James Meade
(1907–1995)
Flag of the United Kingdom.svg  United Kingdom University of Cambridge University of Cambridge Nominal income target
1978 Herbert Simon, RIT NandE Vol13Num11 1981 Mar19 Complete.jpg Herbert A. Simon
(1916–2001)
Flag of the United States.svg  United States "for his pioneering research into the decision-making process within economic organizations" [16] University of Chicago Carnegie Mellon University Bounded rationality, satisficing, preferential attachment
 1979 Theodore W. Schultz.jpg Theodore Schultz
(1902–1998)
Flag of the United States.svg  United States "for their pioneering research into economic development research with particular consideration of the problems of developing countries" [17] University of Wisconsin-Madison University of Chicago Human Capital Theory
Arthur Lewis (3x4 cropped).jpg W. Arthur Lewis
(1915–1991)
Flag of Saint Lucia (1979-2002).svg  Saint Lucia
Flag of the United Kingdom.svg  United Kingdom
London School of Economics Princeton University Lewis model, Lewis turning point
1980 Lawrence Robert Klein (cropped).jpg Lawrence Klein
(1920–2013)
Flag of the United States.svg  United States "for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies" [18] Massachusetts Institute of Technology University of Pennsylvania Macroeconomic forecasting (LINK project)
1981 James Tobin.png James Tobin
(1918–2002)
Flag of the United States.svg  United States "for his analysis of financial markets and their relations to expenditure decisions, employment, production and prices" [19] Harvard University Yale University Tobin tax, Tobit model, Tobin's q, Baumol–Tobin model
1982 George Stigler
(1911–1991)
Flag of the United States.svg  United States "for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation" [20] University of Chicago University of Chicago Regulatory capture
1983 Debreu, Gerard (1921-2004) (cropped).jpeg Gérard Debreu
(1921–2004)
Flag of France.svg  France "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium" [21] University of Paris University of California, Berkeley Arrow–Debreu model, Sonnenschein–Mantel–Debreu theorem
1984 Richard Stone
(1913–1991)
Flag of the United Kingdom.svg  United Kingdom "for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis" [22] University of Cambridge University of Cambridge National accounts
1985 Franco Modigliani.jpg Franco Modigliani
(1918–2003)
Flag of Italy.svg  Italy "for his pioneering analyses of saving and of financial markets" [23] The New School for Social Research Massachusetts Institute of Technology Modigliani–Miller theorem, Life-cycle hypothesis
1986 James Buchanan by Atlas network.jpg James M. Buchanan
(1919–2013)
Flag of the United States.svg  United States "for his development of the contractual and constitutional bases for the theory of economic and political decision-making" [24] University of Chicago George Mason University Constitutional economics
1987 Robert Solow by Olaf Storbeck (cropped).jpg Robert Solow
(1924–2023)
Flag of the United States.svg  United States "for his contributions to the theory of economic growth" [25] Harvard University Massachusetts Institute of Technology Solow–Swan model
1988 ALLAIS PN Maurice-24x30-2001b.jpg Maurice Allais
(1911–2010)
Flag of France.svg  France "for his pioneering contributions to the theory of markets and efficient utilization of resources" [26] École Polytechnique OLG model, Allais paradox, Golden Rule savings rate
1989 Trygve Haavelmo.jpg Trygve Haavelmo
(1911–1999)
Flag of Norway.svg  Norway "for his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures" [27] University of Oslo University of Oslo Balanced budget multiplier
1990 Harry Markowitz
(1927–2023)
Flag of the United States.svg  United States "for their pioneering work in the theory of financial economics" [28] University of Chicago City University of New York Modern portfolio theory, Markowitz model, Efficient frontier
Merton Miller
(1923–2000)
Johns Hopkins University Modigliani–Miller theorem
William sharpe 2007.jpg William F. Sharpe
(b. 1934)
University of California, Los Angeles Stanford University Sharpe Ratio, Binomial options pricing model, Returns-based style analysis
1991 Coase scan 10 edited.jpg Ronald Coase
(1910–2013)
Flag of the United Kingdom.svg  United Kingdom "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy" [29] London School of Economics Transaction costs, Coase theorem, Coase conjecture
1992 GaryBecker-May24-2008.jpg Gary Becker
(1930–2014)
Flag of the United States.svg  United States "for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including non-market behaviour" [30] University of Chicago University of Chicago Human Capital Theory
1993 Robert William Fogel.jpg Robert Fogel
(1926–2013)
Flag of the United States.svg  United States "for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change" [31] Johns Hopkins University University of Chicago Cliometrics
Douglass North.jpg Douglass North
(1920–2015)
University of California, Berkeley Washington University in St. Louis
 1994 John Harsanyi
(1920–2000)
Flag of Hungary.svg  Hungary
Flag of the United States.svg  United States
"for their pioneering analysis of equilibria in the theory of non-cooperative games" [32] Stanford University University of California, Berkeley Bayesian game, Preference utilitarianism, Equilibrium selection
John f nash 20061102 3.jpg John Forbes Nash
(1928–2015)
Flag of the United States.svg  United States Princeton University Princeton University Nash equilibrium, Nash embedding theorem, Nash functions, Nash–Moser theorem
Reinhard Selten2.jpg Reinhard Selten
(1930–2016)
Flag of Germany.svg  Germany Goethe University Frankfurt University of Bonn Experimental economics
1995 La Revolucion Industrial Pasado y Futuro, Robert E. Lucas Jr. screenshot (cropped).jpg Robert Lucas, Jr.
(1937–2023)
Flag of the United States.svg  United States "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy" [33] University of Chicago University of Chicago Rational expectations, Lucas critique, Lucas paradox, Lucas aggregate supply function, Uzawa–Lucas model
1996 Sir James Mirrlees.jpg James Mirrlees
(1936–2018)
Flag of the United Kingdom.svg  United Kingdom "for their fundamental contributions to the economic theory of incentives under asymmetric information" [34] University of Cambridge Optimal labor income taxation
William Vickrey
(1914–1996)
Flag of Canada (Pantone).svg  Canada
Flag of the United States.svg  United States
Columbia University Columbia University Vickrey auction, Revenue equivalence, Congestion pricing
1997 Robert C. Merton.jpg Robert C. Merton
(b. 1944)
Flag of the United States.svg  United States "for a new method to determine the value of derivatives" [35] Massachusetts Institute of Technology Massachusetts Institute of Technology Black–Scholes–Merton model, ICAPM, Merton's portfolio problem
Myron Scholes 2008 in Lindau.png Myron Scholes
(b. 1941)
Flag of Canada (Pantone).svg  Canada
Flag of the United States.svg  United States
University of Chicago Stanford University Black–Scholes–Merton model
1998 Amartya Sen 20071128 cologne.jpg Amartya Sen
(b. 1933)
Flag of India.svg  India "for his contributions to welfare economics" [36] University of Cambridge Human development theory, Capability approach
1999 Rmundell.jpg Robert Mundell
(1932–2021)
Flag of Canada (Pantone).svg  Canada "for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas" [37] Massachusetts Institute of Technology Columbia University Optimum currency area, Supply-side economics, Mundell–Fleming model, Mundell–Tobin effect
2000 James Heckman.jpg James Heckman
(b. 1944)
Flag of the United States.svg  United States "for his development of theory and methods for analyzing selective samples" [38] Princeton University University of Chicago Heckman correction
Daniel McFadden 01 (cropped).JPG Daniel McFadden
(b. 1937)
"for his development of theory and methods for analyzing discrete choice" [38] University of Minnesota Discrete choice models
2001 George Akerlof (cropped).jpg George Akerlof
(b. 1940)
Flag of the United States.svg  United States "for their analyses of markets with information asymmetry" [39] Massachusetts Institute of Technology Adverse selection (The Market for Lemons), Efficiency wage, Identity economics
A Michael Spence.jpg Michael Spence
(b. 1943)
Harvard University Harvard University Signalling theory
Joseph Stiglitz.jpg Joseph Stiglitz
(b. 1943)
Massachusetts Institute of Technology Screening theory, Henry George theorem, Shapiro–Stiglitz theory
2002 Daniel Kahneman (3283955327) (cropped).jpg Daniel Kahneman
(1934–2024)
Flag of Israel.svg  Israel
Flag of the United States.svg  United States
"for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty" [40] University of California, Berkeley Behavioral economics, Prospect theory, loss aversion, cognitive biases
Vernon L. Smith 2011.jpg Vernon L. Smith
(b. 1927)
Flag of the United States.svg  United States "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms" [40] Harvard University University of Arizona Experimental economics, Combinatorial auction
2003 Robert F. Engle.jpg Robert F. Engle
(b. 1942)
Flag of the United States.svg  United States "for methods of analyzing economic time series with time-varying volatility (ARCH)" [41] Cornell University University of California, San Diego ARCH
Clive Granger by Olaf Storbeck (3x4 cropped).jpg Clive Granger
(1934–2009)
Flag of the United Kingdom.svg  United Kingdom "for methods of analyzing economic time series with common trends (cointegration)" [41] University of Nottingham University of California, San Diego Cointegration, Granger causality
2004 Kydland.jpg Finn E. Kydland
(b. 1943)
Flag of Norway.svg  Norway "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles" [42] Carnegie Mellon University University of California, Santa Barbara RBC theory, Dynamic inconsistency in monetary policy
Edward C. Prescott.jpg Edward C. Prescott
(1940–2022)
Flag of the United States.svg  United States Carnegie Mellon University Hodrick-Prescott filter
2005 ySHrAl Avmn 2010.jpg Robert J. Aumann
(b. 1930)
Flag of the United States.svg  United States
Flag of Israel.svg  Israel
"for having enhanced our understanding of conflict and cooperation through game-theory analysis" [43] Massachusetts Institute of Technology Hebrew University of Jerusalem Correlated equilibrium, Aumann's agreement theorem
Thomas Schelling.jpg Thomas C. Schelling
(1921–2016)
Flag of the United States.svg  United States Harvard University Schelling point, Egonomics
2006 Edmund Phelps 2008-01-23.jpg Edmund S. Phelps
(b. 1933)
Flag of the United States.svg  United States "for his analysis of intertemporal tradeoffs in macroeconomic policy" [44] Yale University Columbia University Golden Rule savings rate, Natural rate of unemployment, Statistical discrimination
2007 Leonid Hurwicz (cropped).jpg Leonid Hurwicz
(1917–2008)
Flag of Poland.svg  Poland
Flag of the United States.svg  United States
"for having laid the foundations of mechanism design theory" [45] London School of Economics Mechanism design
Eric Maskin at UCI.jpg Eric S. Maskin
(b. 1950)
Flag of the United States.svg  United States Harvard University Harvard University
Myerson roger b print.jpg Roger Myerson
(b. 1951)
Harvard University Northwestern University
2008 Paul Krugman-press conference Dec 07th, 2008-8.jpg Paul Krugman
(b. 1953)
Flag of the United States.svg  United States "for his analysis of trade patterns and location of economic activity" [46] Massachusetts Institute of Technology Princeton University New trade theory, New Economic Geography, Home market effect
2009 Nobel Prize 2009-Press Conference KVA-30.jpg Elinor Ostrom
(1933–2012)
Flag of the United States.svg  United States "for her analysis of economic governance, especially the commons" [47] University of California, Los Angeles Indiana University Institutional Analysis and Development framework
Nobel Prize 2009-Press Conference KVA-42.jpg Oliver E. Williamson
(1932–2020)
"for his analysis of economic governance, especially the boundaries of the firm" [47] Carnegie Mellon University New institutional economics
2010 Peter Diamond cropped.jpg Peter A. Diamond
(b. 1940)
Flag of the United States.svg  United States "for their analysis of markets with search frictions" [48] Massachusetts Institute of Technology Massachusetts Institute of Technology Diamond–Mirrlees efficiency theorem, Diamond coconut model
Dale Mortensen.jpg Dale T. Mortensen
(1939–2014)
Carnegie Mellon University Northwestern University Matching theory
Christopher Pissarides.jpg Christopher A. Pissarides
(b. 1948)
Flag of Cyprus.svg  Cyprus
Flag of the United Kingdom.svg  United Kingdom
London School of Economics London School of Economics Matching theory
2011 Nobel Prize 2011-Press Conference KVA-DSC 7770.jpg Thomas J. Sargent
(b. 1943)
Flag of the United States.svg  United States "for their empirical research on cause and effect in the macroeconomy" [49] Harvard University Policy-ineffectiveness proposition
Nobel Prize 2011-Press Conference KVA-DSC 7720.jpg Christopher A. Sims
(b. 1942)
Harvard University Princeton University Vector autoregression in macroeconomics, Fiscal theory of the price level, Rational inattention
2012 Al Roth, Sydney Ideas lecture 2012d.jpg Alvin E. Roth
(b. 1951)
Flag of the United States.svg  United States "for the theory of stable allocations and the practice of market design" [50] Stanford University Stable marriage problem, Repugnancy costs
Shapley, Lloyd (1980) crop.jpg Lloyd S. Shapley
(1923–2016)
Princeton University University of California, Los Angeles Shapley value, stochastic game, Potential game, Shapley–Shubik power index, Bondareva–Shapley theorem, Gale–Shapley algorithm, Shapley–Folkman lemma
2013 Eugene Fama at Nobel Prize, 2013.jpg Eugene F. Fama
(b. 1939)
Flag of the United States.svg  United States "for their empirical analysis of asset prices" [51] University of Chicago University of Chicago Fama–French three-factor model, Weak, semi-strong, and strong efficient-market hypothesis
Nobel Prize laureate Lars Peter Hansen at press conference 2013 2 (cropped).jpg Lars Peter Hansen
(b. 1952)
University of Minnesota University of Chicago Generalized method of moments
Robert J. Shiller 2017.jpg Robert J. Shiller
(b. 1946)
Massachusetts Institute of Technology Yale University Case–Shiller index, CAPE Index
2014 Jean Tirole (cropped).jpg Jean Tirole
(b. 1953)
Flag of France.svg  France "for his analysis of market power and regulation" [52] Massachusetts Institute of Technology Markov perfect equilibrium, Two-sided market
2015 Angus Deaton 0182.jpg Angus Deaton
(b. 1945)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
"for his analysis of consumption, poverty, and welfare" [53] University of Cambridge Princeton University Almost ideal demand system, Pseudo panels, Household surveys in developing countries
2016 Nobel Laureates 0983 (31117127490).jpg Oliver Hart
(b. 1948)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
"for their contributions to contract theory" [54] Princeton University Harvard University Moral Hazard, Incomplete contracts
Bengt Holmstrom.jpg Bengt Holmström
(b. 1949)
Flag of Finland.svg  Finland Stanford University Massachusetts Institute of Technology Informativeness Principle
2017 Richard Thaler Chatham.jpg Richard Thaler
(b. 1945)
Flag of the United States.svg  United States "for his contributions to behavioural economics" [55] University of Rochester Nudge Theory, Mental Accounting, Choice Architecture
2018 William Nordhaus EM1B6043 (46234132921).jpg William Nordhaus
(b. 1941)
Flag of the United States.svg  United States     "for integrating climate change into long-run macroeconomic analysis" [56] Massachusetts Institute of Technology Yale University DICE model
Paul Romer in 2005.jpg Paul Romer
(b. 1955)
"for integrating technological innovations into long-run macroeconomic analysis" University of Chicago New York University Incorporation of R&D to the Endogenous growth theory
2019 FT Goldman Sachs Business Book of the Year Award 2011 (6310827426) (cropped).jpg Abhijit Banerjee
(b. 1961)
Flag of the United States.svg  United States "for their experimental approach to alleviating global poverty" [57] Harvard University Massachusetts Institute of Technology Use of RCTs in development economics
Nobel 9 Dec 2019 Esther Duflo.jpg Esther Duflo
(b. 1972)
Flag of France.svg  France
Flag of the United States.svg  United States
Massachusetts Institute of Technology Massachusetts Institute of Technology
Kremer bio (cropped).jpg Michael Kremer
(b. 1964)
Flag of the United States.svg  United States Harvard University Harvard University
2020 Paul Milgrom Headshot.jpg Paul Milgrom
(b. 1948)
Flag of the United States.svg  United States "for improvements to auction theory and inventions of new auction formats" [58] Stanford University Stanford University Simultaneous multiple round auctions (SMRA), No-trade theorem, Market design, Reputation effects (game theory), supermodular games, monotone comparative statics, Linkage principle, Deferred-acceptance auction
Robert B. Wilson
(b. 1937)
Harvard University Stanford University Simultaneous multiple round auctions (SMRA), Common value auction, Reputation effects (game theory), Wilson doctrine
2021 David Card - Nobel prize interview screenshot (cropped, portrait).png David Card
(b. 1956)
Flag of Canada (Pantone).svg  Canada
Flag of the United States.svg  United States
"for his empirical contributions to labour economics" [59] Princeton University University of California, Berkeley Natural experiments on labour economics (incl. Difference in differences)
Joshua Angrist - 2011 (cropped).jpg Joshua Angrist
(b. 1960)
Flag of the United States.svg  United States
Flag of Israel.svg  Israel
"for their methodological contributions to the analysis of causal relationships" [59] Princeton University Massachusetts Institute of Technology Local average treatment effect, natural experiments to estimate causal links
Guido Imbens Lemley Lecture 1.jpg Guido Imbens
(b. 1963)
Flag of the United States.svg  United States
Flag of the Netherlands.svg  Netherlands
Brown University Stanford University
2022 Ben Bernanke official portrait.jpg Ben Bernanke
(b. 1953)
Flag of the United States.svg  United States "for research on banks and financial crises" [60] Massachusetts Institute of Technology Analysis of the Great Depression
Douglas Diamond.jpg Douglas Diamond
(b. 1953)
Yale University University of Chicago Diamond–Dybvig model
Philip Dybvig - Nobel 2022 Group - 52637857287 (cropped).jpg Philip H. Dybvig
(b. 1955)
Yale University Washington University in St. Louis
2023 Claudia Goldin Headshot (cropped).jpg Claudia Goldin
(b. 1946)
Flag of the United States.svg  United States "for having advanced our understanding of women's labour market outcomes" [61] University of Chicago Harvard University Analysis of historical experience of women in the economy
2024 Acemoglu 2016 (3x4 cropped).png Daron Acemoglu
(b. 1967)
Flag of Turkey.svg  Turkey
Flag of the United States.svg  United States
"for studies of how institutions are formed and affect prosperity" [62] [63] London School of Economics
Simon Johnson
(b. 1963)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
Massachusetts Institute of Technology Massachusetts Institute of Technology
James A. Robinson in Ukraine - 2018 (MUS3218) (cropped).jpg James A. Robinson
(b. 1955)
Flag of the United Kingdom.svg  United Kingdom
Flag of the United States.svg  United States
Yale University University of Chicago

List of Economic Nobel laureates by PhD (or equivalent) alma mater

InstitutionCountryNumber of laureates
Massachusetts Institute of Technology Flag of the United States (23px).png  United States 14 (1980, 1997, 1999, 2001, 2001, 2005, 2008, 2010, 2013, 2014, 2018, 2019, 2022, 2024)
Lawrence Klein, Robert C. Merton, Robert Mundell, Joseph Stiglitz, George Akerlof, Robert J. Aumann, Paul Krugman, Peter A. Diamond, Robert J. Shiller, Jean Tirole, William Nordhaus, Esther Duflo, Ben Bernanke, Simon Johnson
Harvard University Flag of the United States (23px).png  United States 13 (1970, 1981, 1987, 2001, 2002, 2005, 2007, 2007, 2011, 2011, 2019, 2019, 2020)
Paul Samuelson, James Tobin, Robert Solow, Michael Spence, Vernon L. Smith, Thomas C. Schelling, Roger Myerson, Eric S. Maskin, Thomas J. Sargent, Christopher A. Sims, Abhijit Banerjee, Michael Kremer, Robert B. Wilson
University of Chicago Flag of the United States (23px).png  United States 10 (1978, 1982, 1986, 1990, 1992, 1995, 1997, 2013, 2018, 2023)
Herbert A. Simon, George Stigler, James M. Buchanan, Harry Markowitz, Gary Becker, Robert Lucas, Jr., Myron Scholes, Eugene F. Fama, Paul Romer, Claudia Goldin
Princeton University Flag of the United States (23px).png  United States 6 (1994, 2000, 2012, 2016, 2021, 2021)
John Forbes Nash, James Heckman, Lloyd S. Shapley, Oliver Hart, David Card, Joshua Angrist
London School of Economics Flag of the United Kingdom.svg  United Kingdom 5 (1979, 1992, 2007, 2010, 2024)
C. A. Pissarides, L. Hurwicz, R. Coase, W. A. Lewis, Daron Acemoglu
University of Cambridge Flag of the United Kingdom.svg  United Kingdom 5 (1977, 1984, 1996, 1998, 2015)
James Meade, Richard Stone, James Mirrlees, Amartya Sen, Angus Deaton
Carnegie Mellon University Flag of the United States (23px).png  United States 4 (2004, 2004, 2009, 2010)
Finn E. Kydland, Edward C. Prescott, Dale T. Mortensen
Columbia University Flag of the United States (23px).png  United States 4 (1971, 1972, 1976, 1996)
William Vickrey, Milton Friedman, Kenneth Arrow, Simon Kuznets
Stanford University Flag of the United States (23px).png  United States 4 (1994, 2012, 2016, 2020)
Paul Milgrom, Bengt Holmström, Alvin E. Roth, John Harsanyi
Yale University Flag of the United States (23px).png  United States 4 (2006, 2022, 2022, 2024)
Edmund S. Phelps, Douglas Diamond, Philip H. Dybvig, James A. Robinson
Johns Hopkins University Flag of the United States (23px).png  United States 2 (1990, 1993)
Merton Miller, Robert Fogel
Leiden University Flag of the Netherlands.svg  Netherlands 2 (1969, 1975)
Jan Tinbergen, Tjalling Koopmans
Stockholm University Flag of Sweden.svg  Sweden 2 (1974, 1977)
Gunnar Myrdal, Bertil Ohlin
University of California, Berkeley Flag of the United States (23px).png  United States 2 (1993, 2002)
Douglass North, Daniel Kahneman
University of California, Los Angeles Flag of the United States (23px).png  United States 2 (1990, 2009)
William F. Sharpe, Elinor Ostrom
University of Minnesota Flag of the United States (23px).png  United States 2 (2000, 2013)
Daniel McFadden, Lars Peter Hansen
University of Oslo Flag of Norway.svg  Norway 2 (1969, 1989)
Ragnar Frisch, Trygve Haavelmo
Brown University Flag of the United States (23px).png  United States 1 (2021)
Guido Imbens
Cornell University Flag of the United States (23px).png  United States 1 (2003)
Robert F. Engle
École Polytechnique Flag of France.svg  France 1 (1988)
Maurice Allais
Goethe University Frankfurt Flag of Germany.svg  Germany 1 (1994)
Reinhard Selten
Leningrad State University Flag of the Soviet Union.svg  Soviet Union 1 (1975)
Leonid Kantorovich
The New School for Social Research Flag of the United States (23px).png  United States 1 (1985)
Franco Modigliani
University of Berlin Flag of Germany.svg  Germany 1 (1973)
Wassily Leontief
University of Nottingham Flag of the United Kingdom.svg  United Kingdom 1 (2003)
Clive Granger
University of Oxford Flag of the United Kingdom.svg  United Kingdom 1 (1972)
John Hicks
University of Paris Flag of France.svg  France 1 (1983)
Gérard Debreu
University of Rochester Flag of the United States (23px).png  United States 1 (2017)
Richard Thaler
University of Vienna Flag of Austria.svg  Austria 1 (1974)
Friedrich Hayek
University of Wisconsin-Madison Flag of the United States (23px).png  United States 1 (1979)
Theodore Schultz

List of Economic Nobel laureates by country

CountryNumber of laureates
Flag of the United States (23px).png  United States 71
Flag of the United Kingdom.svg  United Kingdom 13
Flag of Canada (Pantone).svg  Canada 4
Flag of France.svg  France 4
Flag of Israel.svg  Israel 3
Flag of the Netherlands.svg  Netherlands 3
Flag of Norway.svg  Norway 3
Flag of India.svg  India 2
Flag of the Soviet Union.svg  Soviet Union 2
Flag of Sweden.svg  Sweden 2
Flag of Austria.svg  Austria 1
Flag of Cyprus.svg  Cyprus 1
Flag of Finland.svg  Finland 1
Flag of Germany.svg  Germany 1
Flag of Hungary.svg  Hungary 1
Flag of Italy.svg  Italy 1
Flag of Poland.svg  Poland 1
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"This year's Laureates – David Card, Joshua Angrist and Guido Imbens – have shown that natural experiments can be used to answer central questions for society, such as how minimum wages and immigration affect the labour market. They have also clarified exactly which conclusions about cause and effect can be drawn using this research approach. Together, they have revolutionised empirical research in the economic sciences."

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