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Paul Romer and William Nordhaus Win Nobel Prize in Economics

  • Paul Romer and William Nordhaus are Noble prize winner for this year. They have been rewarded with the prestigious award for their work in economics in the area of sustainable growth. Their research centers on how technology and climate change have affected the economy. According to the Royal Swedish Academy of Sciences, the US-based economists have addressed some very pressing questions about achieving sustainable growth. They'll receive £841,000 (9 million Swedish krona) as the prize. Nordhaus is the first person to make a model that describes the dynamics between the climate and the economy.