The winner of the 2021 Nobel Prize for outstanding work in the field of economics will be announced on Monday.
Unlike the other Nobel laureates, the economics prize was not established in Alfred Nobel’s will but by the Swedish central bank in memory of him in 1968, and the first winner was selected a year later. It is the last award announced each year.
Last year’s award went to two Stanford University economists who tackled the tricky problem of making auctions run more efficiently.
It also created an endearing moment when one had to knock on the other’s door in the middle of the night to wake him up and tell him they had won.
Last week, the 2021 Nobel Peace Prize was awarded to journalists Maria Ressa from the Philippines and Dmitry Muratov from Russia for their fight for freedom of expression in countries where reporters have faced persistent attacks, harassment and even assassinations.
The Nobel Prize for Literature was awarded to UK-based Tanzanian writer Abdulrazak Gurnah, who was recognized for his “uncompromising and compassionate insight into the effects of colonialism and the fate of refugees.”
The physiology or medicine award went to the Americans David Julius and Ardem Patapoutian for their discoveries about how the human body perceives temperature and touch.
Three scientists won the physics award for their work that found order in apparent disorder, helping to explain and predict complex forces in nature, including expanding our understanding of climate change.
Benjamin List and David W.C. MacMillan won the chemistry award for finding an easier and environmentally cleaner way to build molecules that can be used to make compounds, including drugs and pesticides.