Stockholm. The winner of the Nobel Prize in economics will be announced on Monday. The announcement comes at a time when the world is experiencing the worst phase of recession since World War II due to the effects of the Corona virus epidemic . With the announcement of the award, the Nobel Prize week will end. Technically, it is known as the 'Acceptance Riksbank Prize in Economic Sciences in Memory of Alfred Nobel'. The award was established in 1969 and has been given 51 times since then and is considered one of the Nobel Prizes.
Last year, the award was given to two researchers from Massachusetts Institute of Technology and one from Harvard University for research towards global poverty alleviation. Under this prestigious award, an amount of one crore krona (about 1.1 million US dollars) is provided.