Nobel Memorial Prize In Economic Sciences

Dictionary Says

Definition of 'Nobel Memorial Prize In Economic Sciences'


A prestigious award acknowledging outstanding contributions to the science of economics. The Nobel Memorial Prize in Economic Sciences is commonly called the Nobel Prize in Economics. The official name for the award is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
Investopedia Says

Investopedia explains 'Nobel Memorial Prize In Economic Sciences'


One of the most esteemed awards in economics, the Nobel Memorial Prize in Economic Sciences is awarded yearly to individuals making exceptional contributions to economics. An endowment from Sveriges Riksbank, Sweden's central bank, provides in perpetuity funding to pay the Nobel Foundation's administrative expenses pertaining to the award along with the monetary prize, which is 10 million Swedish kronor (approximately US1.5 million) as of 2010.

The prize is awarded by the Royal Swedish Academy of Sciences following an invitation for nominations. A maximum of three individuals can share a prize during the same year. Awards are presented at the annual Nobel Prize Award Ceremony in Stockholm, Sweden each year on December 10, the anniversary of Nobel's death.

comments powered by Disqus
Hot Definitions
  1. Closed-End Fund

    A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange.
  2. Payday Loan

    A type of short-term borrowing where an individual borrows a small amount at a very high rate of interest. The borrower typically writes a post-dated personal check in the amount they wish to borrow plus a fee in exchange for cash.
  3. Securitization

    The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors.
  4. Economic Forecasting

    The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators.
  5. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
  6. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
Trading Center