US economist wins 2008 Nobel Prize

October 13th, 2008 - 6:23 pm ICT by IANS  

Stockholm, Oct 13 (IANS) US economist Paul Krugman has won the 2008 Nobel Prize for economics, the prize committee announced here Monday.The prize - also called The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel - went to Krugman for his “analysis of trade patterns and location of economic activity”.

The prize carries an award of $1.5 million and will be given to Krugman at the annual Nobel prize ceremonies December 10 in Stockholm.

Last year the Nobel was awarded to three US economists, Leonid Hurwicz, Eric Maskin and Roger Myerson.

Nobel prizes are awarded annually in recognition of achievements in science, literature, economics and for peace, The prizes bearing the name of Alfred Nobel were first awarded in 1901 in accordance with the 1895 will of the Swedish scientist.

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