The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for the year 2023 was awarded to Professor Claudia Goldin on Monday. Goldin has been awarded the Nobel Prize for helping advance the "understanding of women's labour market outcomes”, the Swedish Academy announced. Goldin became the 55th recipient of the prize, which was first given out in 1969.


The Academy stated that this year's Prize is about women in the labour market. Goldin, a professor at Harvard University, became the third women to recieve the Nobel Prize for Economic Sciences on Monday. 


"The Royal Swedish Academy of Sciences has decided to award the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin “for having advanced our understanding of women’s labour market outcomes," the body announced via a social media post on X (formerly known as Twitter).


BREAKING NEWS
The Royal Swedish Academy of Sciences has decided to award the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin “for having advanced our understanding of women’s labour market outcomes.”#NobelPrize pic.twitter.com/FRAayC3Jwb



The Academy further provided more details about Goldin's work and said, "By trawling through the archives and compiling and correcting historical data, this year’s economic sciences laureate Claudia Goldin has been able to present new and often surprising facts. She has also given us a deeper understanding of the factors that affect women’s opportunities in the labour market and how much their work has been in demand." 


Goldin's work provides insight on a global level and her research has facilitated a better understanding of the labour markets of 'yesterday, today, and tomorrow', the Swedish Academy noted. 


Last year, Ben Bernanke, Douglas Diamond, and Philip Dybvig jointly won the Nobel Prize in Economic Sciences for their research on banks and financial crises. The Nobel Prize and the Economic Sciences Prize were awarded 615 times to 989 recipients, including individuals and organisations, until 2022. With the Nobel Prizes announced this year for Physiology or Medicine, Physics, Chemistry, Literature, and Peace, the total tally of recipients had gone up to 999. The Economic Sciences prize made it 1,000. Till date, there have been 93 recipients of the Nobel Prize for Economic Sciences, in which only 3 were women. The youngest recipient for the Prize was 46 years old, while the oldest recipient was 90 years of age. 


Amartya Sen and Abhijit Banerjee are the two Indian-origin economists who were awarded with this honour in 1998 and 2019, respectively. While Sen was awarded for his work and contributions to welfare economics, Banerjee received the Prize jointly with his economist wife Esther Duflo, and Michael Kremer for helping develop an innovative experimental approach to easing global poverty.