The Royal Swedish Academy of Sciences on Monday announced that American Paul Krugman has won the Nobel economics prize "for his analysis of trade patterns and location of economic activity."
"What are the effects of free trade and globalisation? What are the driving forces behind worldwide urbanisation? Paul Krugman has formulated a new theory to answer these questions," the academy said in its citation.
The citation said Krugman's approach is based on the premise that many goods and services can be produced at less cost in long series, a concept known as economies of scale.
Krugman is an American economist, columnist, author, and intellectual. He is professor of economics and international affairs at Princeton University, and is also a columnist for The New York Times, writing a blog and a twice-weekly op-ed column for the newspaper since 2000.
Krugman was born into a Jewish family and grew up on Long Island, and majored in economics (though his initial interest was in history) as an undergraduate at Yale University. He earned a Ph.D from MIT in 1977 and taught at Yale, MIT, UC Berkeley, the London School of Economics, and Stanford University before joining the faculty of Princeton University, where he has been since 2000.
Other awards:
1991, American Economic Association, John Bates Clark Medal
2002, Editor and Publisher, Columnist of the Year
2004, Fundaci�n Pr�ncipe de Asturias (Spain), Prince of Asturias Awards in Social Sciences, the "European Pulitzer"
2004, Doctor of Humane Letters honoris causa, Haverford College
"What are the effects of free trade and globalisation? What are the driving forces behind worldwide urbanisation? Paul Krugman has formulated a new theory to answer these questions," the academy said in its citation.
The citation said Krugman's approach is based on the premise that many goods and services can be produced at less cost in long series, a concept known as economies of scale.
Krugman is an American economist, columnist, author, and intellectual. He is professor of economics and international affairs at Princeton University, and is also a columnist for The New York Times, writing a blog and a twice-weekly op-ed column for the newspaper since 2000.
Krugman was born into a Jewish family and grew up on Long Island, and majored in economics (though his initial interest was in history) as an undergraduate at Yale University. He earned a Ph.D from MIT in 1977 and taught at Yale, MIT, UC Berkeley, the London School of Economics, and Stanford University before joining the faculty of Princeton University, where he has been since 2000.
Other awards:
1991, American Economic Association, John Bates Clark Medal
2002, Editor and Publisher, Columnist of the Year
2004, Fundaci�n Pr�ncipe de Asturias (Spain), Prince of Asturias Awards in Social Sciences, the "European Pulitzer"
2004, Doctor of Humane Letters honoris causa, Haverford College
He has authored a few books with Wells including Economics: European Edition (with Robin Wells and Kathryn Graddy, Spring 2007); Macroeconomics (with Robin Wells, February 2006); Economics (with Robin Wells, December 2005); and Microeconomics (with Robin Wells, March 2004). From 1982 to 1983, he spent a year working at the Reagan White House as a staff member of the Council of Economic Advisers.
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