Nobel Memorial Prize in Economic Sciences

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/nobel-memorial-prize-in-economic-sciences

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the founding institution and year?Established by Sveriges Riksbank (Sweden's central bank) in 1968
2. When was the prize created?It was established in 1968 by Sweden's central bank, the Sveriges Riksbank, for its 300th anniversary. The first award was given in 1969.
3. How are winners chosen?Nominations come from scholars, past laureates, academy members, and top economists. The Royal Swedish Academy of Sciences reviews and selects the winners after a thorough evaluation.

Econometrics: The application of statistical and mathematical methods to the analysis of economic data and the testing of economic theories.
Dynamic Models: Mathematical frameworks used to study how economic variables evolve and interact over time.
Sveriges Riksbank: The central bank of Sweden, responsible for monetary policy and financial stability.
Royal Swedish Academy of Sciences: A Swedish royal academy that awards Nobel Prizes in Physics and Chemistry, and the Memorial Prize in Economic Sciences.