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William D. Nordhaus and Paul M. Romer Nobel Prize 2018 for Economics

William D. Nordhaus and Paul M. Romer Nobel Prize 2018 for Economics

This year the Royal Swedish Academy has announced the Nobel Prize in economical science jointly by two economists. American economist William D. Nordhaus and Paul M. Romer will be awarded this year's Nobel Prize. Both the economists are being given this award to explore new techniques on climate change. Both economists are related to macroeconomics (micro economics). They have developed models that extend the relationship between nature and the market economy. At the same time, we have discovered ways to prevent damage caused by climate change. Nobel Prize for Peace, Medicine, Physics and Chemistry has been announced before Nobel Prize in Economics. Congo's doctor Denis Mukwege and Yajdi activist Nadia Murad have been selected for the 2018 Nobel Peace Prize to work against sex violence in the war-torn areas of the world. At the same time, the year 2018 Nobel Prize for Medicine has been jointly chosen by James P. Ellison and Houruku Hojo. Both of them received this award for the research of cancer therapy. Nobel Prizes were started in memory of great scientist Alfred Nobel. Every year the 'Royal Swedish Academy of Sciences', 'The Swedish Academy', 'The Karolinska Institute' and 'The Norwegian Nobel Committee' are given to those people and institutions, who have developed economics, physics, chemistry, medicine, literature and peace Has contributed significantly in the field .

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