2018 Nobel Prize Laureates in Economics

The Royal Swedish Academy of Sciences awarded 2018 Alfred Nobel Prize in Economic Sciences to William D. Nordhaus “for integrating climate change into long-run macroeconomic analysis” and Paul M. Romer “for integrating technological innovations into long-run macroeconomic analysis.” Nordhaus and Romer have designed methods for addressing some of our time’s most basic and pressing questions about how we create long-term sustained and sustainable economic growth. This year’s laureates Nordhaus and Romer have significantly broadened the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge. The laureates’ methods have been fundamental in allowing current and future researchers to improve our understanding of the best way to progress towards sustained and sustainable global economic growth.

ASUE Media and Public Relations Division