first nobel prize in economics was given to
Nobel Memorial Prize in Economic Sciences Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences.[8][9] It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes".[6][10][11]
Nobel Prize Between 1901 and 2018, the Nobel Prizes (and the Prizes in Economic Sciences, from 1969 on) were awarded 590 times to 935 people and organizations.[1] With some receiving the Nobel Prize more than once, this makes a total of 27 organizations and 908 individuals.[1][12] The prize ceremonies take place annually in Stockholm, Sweden (with the exception of the Peace Prize ceremony, which is held in Oslo, Norway). Each recipient (known as a "laureate") receives a gold medal, a diploma, and a sum of money that has been decided by the Nobel Foundation. (As of 2017[update], each prize is worth 9,000,000 SEK, or about US$1,110,000, €944,000, £836,000 or ₹73,800,000.[13]) Medals made before 1980 were struck in 23 carat gold, and later in 18 carat green gold plated with a 24 carat gold coating.