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Three economists from the United States won the Nobel Prize in Economics this year. They are, Ben S. Bernanke, Douglas W. Diamond, Philip H. Dybvig. They were nominated this year for their research on banking and financial crises.

On Monday (October 10) at 4:15 pm Bangladesh time, the names of the winners were announced at the Royal Swedish Academy of Science in Stockholm, Sweden.

Nobel Puskar’s website and verified Facebook page said the winners’ research highlighted the role of banks in the economy, especially during economic crises. Moreover, an important finding in their study is why it is important to avoid bank collapse.

This year’s winners are Ben S. Barnake, former chairman of the Federal Reserve Bank of the United States, Douglas W. Diamond, a professor at the University of Chicago, and Philip H. Dybvig, a professor at the University of Washington.

In 2021, the award was awarded to David Card, Joshua D’Angrist and Guido W. Imbens. David Card for important contributions to labor economics and the other two economists for methodological contributions to causal analysis.

Physics, chemistry, medicine, literature and peace, these five sectors were awarded the Nobel Prize in 1901, but economics was added to this list in 1968. The Nobel Prize in Economics has been awarded since 1969. In 1968, the Swedish central bank Severiges Riksbank decided to award the Nobel Prize in economics with the huge donation to the Nobel Foundation on the 300th anniversary. Sources: BBC, CNN