Nobel prize winners in economics 2018
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MIT alumnus William Nordhaus wins Nobel Prize in economic sciences
William D. Nordhaus PhD ’67, a scholar known for his work on the long-term interaction of climate change and the economy, will share the 2018 Nobel Prize in economic sciences, the Royal Swedish Academy of Sciences announced today.
Nordhaus, a professor of economics at Yale University, shares the award with Paul M. Romer of New York University's Stern School of Business, who also did graduate work at MIT. The academy announced that the two economists have “significantly broadened the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge.”
In Nordhaus’ case, the academy cited his pioneering development of an “integrated assessment model” representing “the global interplay between the economy and the climate.” Nordhaus has refined multiple iterations of his model. He has also written about climate and economics for a broad audience, as the autho
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William Nordhaus ’63 B.A., ’72 M.A., Sterling Professor of Economics at Yale University and the world’s leading economist on climate change, has been awarded the 2018 Sveriges Riksbank Prize in Economic Sciences for “integrating climate change into long-run macroeconomic analysis.”
Watch a press conference held in recognition of the award at the Yale School of Management.
“I am honored to be awarded the Nobel Prize in Economics for work on environmental economics,” Nordhaus said. “But even more, inom am grateful for the intellectual environment at Yale that taught me as a lärling, nurtured me as a teacher and scholar, and allowed the freedom to devote my life to one of the critical emerging issues of humanity.”
Nordhaus shared the prize with Paul Romer, professor of economics at New York University’s Leonard N. Stern School of Business.
Nordhaus’ research has focused on economic growth and natural resources, the economics of climate change, and resource
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List of Nobel Memorial Prize laureates in Economic Sciences
(birth/death)
(1895–1973)
(1903–1994)
(1915–2009)