Nobel Prize in Economics 2021

Three outstanding economists captured the 2021 Nobel Prize in Economics for their methodological contributions to the analysis of causal relationships and empirical work on labor economics. David Card, Joshua Angrist, and Guido Imbens will share the 10 Swedish kronor ($1,135,384) prize for their research and contributions to the field of economics. As an undergraduate and graduate student, I had the opportunity to study the work of Card and Angrist extensively. Their use of Natural Experiments to study the effect of minimum wage on employment and the impact of schooling on income was the catalyst for a revolution in empirical research starting in the late '90s. Many of the methods developed by the three economists are used in business today to understand the causal impact of an action. To learn more about the 2021 Nobel Prize Winners and their research, you can visit nobelprize.org or watch the video below.

Prize announcement. NobelPrize.org. Nobel Prize Outreach AB 2021. Tue. 19 Oct 2021.