Nobel Economics Prize 2024: The Power of Institutions

Daron Acemoglu, Simon Johnson, and James Robinson received the 2024 Nobel economics prize for their influential studies on how institutions shape prosperity. This prestigious award is the final Nobel of the year, with a prize of 11 million Swedish crowns, equivalent to $1.1 million.

Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the 2024 Nobel economics prize, recognized for their groundbreaking research into the formation of institutions and their impact on economic prosperity, according to the Royal Swedish Academy of Sciences.

The Nobel economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, marks the conclusion of this year's Nobel awards season, celebrating innovation and academic excellence.

The trio will share an award of 11 million Swedish crowns, translating to approximately $1.1 million, for their significant contributions to the field of economics.

(With inputs from agencies.)