Ottawa, Oct 14 (Canadian-Media): An announcement was made by the Royal Swedish Academy of Sciences that 2019 Nobel Prize for economics would be shared Mumbai-born Abhijit Banerjee of the US, his French-American wife Esther Duflo, a former advisor to ex-US president Barack Obama, and Michael Kremer of the US for their experimental approach to alleviating global poverty, media reports said.
Officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, the prize wasn't created by the prize founder, but is considered to be part of the Nobel stable of awards.
Duflo, 46, is the second woman and the youngest person to be awarded the prize.
Image: The Nobel Prize Twitter page
At present, Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT.
Banerjee was born in Kolkata and received his education from South Point School and Presidency College in the city.
In 1983, he completed his M.A. in economics at the Jawaharlal Nehru University, Delhi and in 1988 did his Ph.D. in economics at Harvard.