Nobel prize in economics given to three economists for work on alleviating global poverty

MicroStockHub/iStock(NEW YORK) — The Nobel prize in economics has been awarded to three economists “for their experimntal approach to alleviating global poverty.”

Abhijit Banerjee, Esther Duflo and Michael Kremer were announced as the winners on Monday morning.

Banerjee and Duflo work at Massachusetts Institute of Technology and Kremer works at Harvard University. Duflo is only the second woman to win the prize after Elinor Ostrom won it in 2009.

The prize is officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel although. The award, however, was not created by the prize founder but is considered to be a part of the Nobel stable of awards.

The winners will receive a 9 million-kronor ($918,000) cash award, a gold medal and a diploma.

All but the winner of the Peace Prize will receive their awards in Stockholm on Dec. 10 — the anniversary of Nobel’s death in 1896.

Six Nobel prizes were awarded last week in the fields of medicine, physics and chemistry plus two literature awards as well as the Nobel Peace Prize which was won by Abiy Ahmed, the Ethiopian Prime Minister, for his work on ending Ethiopia’s long-running conflict with Eritrea.

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