15 October, 2019
3 Min Read
Why was this award given ?
For the experimental approach to alleviate Global poverty
Who gives the award?
Royal Swedish Academy of Sciences
Name of the award :
Sveriges Riksbank Prize in economic Sciences
a. Abhijit Banerjee
b. Esther Duflo
c. Michael Kremer
Impact of this approach :
a. To fight Global poverty
b. Effective interventions for improving educational outcomes and child health.
"Evidence-based approach"- based on the concept of clinical trials of the pharmaceutical industry.
Technique used :
Breaking down the big picture questions into smaller and more manageable and measurable questions. These questions would be answered by the most affected.
Eg. the Rajasthan vaccination program was a huge success when the women were given free bags of pulses in return of bringing their child to vaccination.
Institutions that choose winners: (Pt Shots)
1. Nobel prize in Physics and Chemistry: by The Royal Swedish Academy of Sciences
2. Nobel prize in Physiology or Medicine: by The Karolinska Institutet
3. Nobel prize in Literature: by The Swedish Academy
4. Nobel Peace prize : 5-member Committee elected by the Norwegian Parliament
5. Prize in Economic prizes: The Royal Swedish Academy of Sciences
Source: THE HINDU
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