Nobel Prize in Economics
The 2021 Nobel Memorial Prize in Economic Sciences was awarded to three U.S.-based economists who work with real-life experiments. David Card from the University of California, Berkeley, specializes in studying “unintended experiments to examine economic questions.” An example of such an experiment is whether raising the minimum wage causes people to lose their jobs. Joshua D. Angrist from the Massachusetts Institute of Technology and Guido W. Imbens from Stanford University won the prize for their joint work on developing research tools that economists utilize to test major theories using real-life situations. An example of this could be whether additional education has an impact on the amount a person earns. Click here to watch a video of the three winners
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