Noble Price: Indian origin Abhijit Banerjee with three economists bestowed 2019 Nobel Prize in Economics

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Noble Price: Indian origin Abhijit Banerjee with three economists bestowed 2019 Nobel Prize in Economics

Noble Price: Indian origin Abhijit Banerjee with three economists bestowed 2019 Nobel Prize in Economics

The 2019 Nobel Prize for Economics has been granted to three people, one of them an Indian – Abhijit Banerjee – for their “experimental approach to alleviating global poverty.”

The trophy was awarded by the Swedish Academy to Banerjee, Esther Duflo, and Michael Kremer on Monday.

“The 2019 Sveriges Riksbank Prize in Economic Sciences in the memory of Alfred Nobel has been awarded to Abhijit Banerjee, Esther Duflo, and Michael Kremer “for their experimental approach to alleviating global poverty,” the approved tweet announcing the Nobel Prize stated.

“The study conducted by this year’s Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a thriving field of research,” the Royal Swedish Academy of Sciences stated in a report.

Born in 1961 in Mumbai, Abhijit Banerjee finished his MA from Jawaharlal Nehru University (JNU) in 1983 and went on to do his Ph.D. from Harvard University in the US. He is presently the Ford Foundation International Professor of Economics at Massachusetts Institute of Technology.