Question: Which Indian-American economist has been conferred Nobel Prize in Economic Sciences for year 2019?
(a) Abhijit Banerjee
(b) Manisha Kulshrestha
(c) P Sadasivam
(d) Annie Zaidi
- Indian origin economist Abhijit Banerjee, has been awarded the Nobel Prize in Economics for the year 2019.
- The Royal Swedish Academy of Sciences has decided to confer the 2019 Nobel to Abhijit Banerjee and his wife Esther Duflo from MIT and Michael Kremer from Harvard.
- The trio has been awarded for their experimental approach to alleviating global poverty, one of humanities most pressing issues.
- The trio’s experimental research methods have benefited over 5 million Indian children, who are part of remedial tutoring programmes in schools.
About Abhijit Banerjee:
- Born in Mumbai,Abhijit did his B.Sc.(H) in economics from University of Calcutta, completed his M.A. in economics at the Jawaharlal Nehru University (JNU),Delhi in 1983.Further,he obtained a Ph.D. in Economics at Harvard University in 1988.
- He is an International Professor of Economics at Massachusetts Institute of Technology, Cambridge, USA.
- He is also a co-founder of the Abdul Latif Jameel Poverty Action Lab along with economists Sendhil Mullainathan and Esther Duflo.
About Nobel Prize for Economics:
- Formally known as Bank of Sweden Prize in Economic Sciences,it was established in 1968 by Sveriges Riksbank (Sweden’s central bank) in memory of Alfred Nobel, founder of the Nobel Prize.
- The award carries a gold medal, a diploma and a 9 million-kronor (or $918,000) cash award.
- The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.