American economists William Nordhaus and Paul Romer were jointly awarded 2018 Nobel Prize in Economics Sciences for integrating climate change and technological innovation into macroeconomic analysis.

About Economic Nobel: Nobel Prize in Economic Sciences is officially called Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

• It was not part of original group of awards (Chemistry, Literature, Peace, Physics, and Physiology or Medicine) set out in dynamite tycoon Alfred Nobel’s 1895 will.
• It was instituted in 1968 by Sveriges Riksbank (Sweden’s central bank).
• It has been awarded 50 times since 1969. Indian economist Amartya Sen is only Indian so far to win this prize in 1998 for his contributions to welfare economics.
• Elinor Ostrom is only woman to win this award so far in 2009, she had shared it with fellow-American Paul Krugman.