Here's what the Nobel Prize tells us about the state of economics

While we don’t yet know who will win this year’s Nobel Prize for economics, taking a look at the top contenders gives great insight into where the field of economics is and where it is heading. The big takeaway is a clear resurgence of interest in aggregate economic dynamics such as economic growth and cyclical fluctuations.

Every year since 2002 Clarivate Analytics has provided a list of possible prize winners based on the number of times their research is cited. So far, 45 of the predictions have come true.
One thing to note is that there is not an official Nobel Prize in Economics. There is, instead, a “Prize in Economic Sciences” awarded by the Central Bank of Sweden (Sveriges Riksbank) in memory of Alfred Nobel. Economics was not one of the five original disciplines that Nobel had in mind when he established the prizes in his will.

Regardless, the Memorial Prize in Economics is treated the same as the original five. The winner attends the same ceremony, receives a diploma and a gold medal from the Swedish monarch, and banks the same cash prize (9 million Swedish crowns, or A$1.1 million).
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