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What is the Nobel Prize for economics? The Nobel Prize for economics is the most prestigious award for contributions towards the field of economics. This prize is given to only the influential and elite leaders in economics. The Nobel Prize was named after Alfred Nobel. The Nobel Prize for economics is awarded yearly by the Royal Swedish Academy of Sciences. A person who receives this award is known to be great in his or her work, accomplished significant workings, and or made major innovations in the field of economics. Along with this prestigious