Ragnar Frisch, the Oslo born economist is known for his vital contribution in economics in the form of Econometrics and Production Theory. He arose from very humble beginnings and earned name and fame, which he is aptly suited to. He climbed the stairs of success gradually and the theories, which he propounded, have become vital to the study of economics. [br]
Personal Life and Educational Background
Yisrael Robert Aumann, an Israeli mathematician, who, along with Thomas Schelling, won the Nobel Prize for economics in 2005. He got this award for his work on game-theory analysis.
Personal and career profiles
Paul A. Samuelson, an American economist, was awarded the 1970 Nobel Prize in economics for providing a mathematical foundation on which the modern discipline has developed. He is also the author of the best selling textbook, Economics: An Introductory Analysis, published in 1948, which has sold more than a million copies and has been translated into French, German, Italian, Hungarian, Polish, Korean, Portuguese, Spanish and Arabic.
Wassily Leontief won the Nobel Prize in 1973 for conducting a special research on quantitative economics, known as the ‘Input-Output Analysis’.
This analysis is deeply influenced by the Marxian and Walrasian analyses of the general equilibrium through the interaction of industries. The ‘Input-Output Analysis’ is actually derived from the multi-sectoral approach followed by the Kiel School and has enjoyed a significant place in economical analysis for the past half a century.
Merton Howard Miller received the Nobel Prize in 1990 for his work in financial economics. He is internationally recognised Miller as one of the most significant developers of empirical and theoretical analysis in the field of corporate finance and was the co-author of the Modigliani-Miller theorem.
Born in Massachusetts, U.S., on 16th May 1923, Miller received his Masters from Harvard University before obtaining his PhD from John Hopkins University in 1952.
Maurice Allais whose full name is Maurice Felix Charles Allais is a French economist whose entire gamut of work is so powerful and analytical that it could alter the whole of economic theor He is the one who endeavored to carry forward the message of the authentic Lausanne School of Walras and Pareto into the contemporary times.
Myron S Scholes is one of the writers to author the Black Scholes Equation. He was born on 1st July, 1941 in Ontario, Canada. He is very famous for his contribution in the field of economics. Myron S Scholes was awarded the Nobel Memorial Prize in the year 1997. He won the Nobel Memorial Prize for his unparalleled discovery of “ a new method to determine the value of derivatives”. [br]
Michael Spence is a renowned economist, who was awarded 2001 Nobel Prize for Economics along with George A. Akerlof and Joseph E. Stiglitz. Michael Spence was awarded the Nobel Prize for his groundbreaking work on the dynamics of information flows and market development. [br]
Personal, career and Academic profiles
The America-born Nobel Laureate economist and popular intellectual, Milton Friedman (1912-2006) was the exponent of the concepts of economic liberty and individual independence. Milton Friedman is known for his contributions in the spheres of macro and micro economics, statistics and economic history.
Lawrence R. Klein, winner of the 1980 Nobel Prize in Economic Science is famous for his works on the development of the macro-econometric models for regional, national and international economic levels. In fact, it is his extensive research works in these areas which bagged him the Nobel Prize. [br]
Early life and academic career:
