Nobel Prize in Economic Sciences Winners 2025: Joel Mokyr, Phillipe Aghion & Peter Howitt for Innovation -Driven Growth

Nobel Prize in Economic Sciences in memory of Alfred Nobel 2025 was awarded to Joel Mokyr, Phillipe Aghion & Peter Howitt by the Royal Swedish Academy of Sciences sponsored the Sveriges Riksbank on 13 October 2025 in Stockholm, Sweden. Check the complete details about the Nobel Prize in Economic Science 2025 winners who clinched the Sveriges Rilksbank Prize in Economic Sciences 2025 for innovation driven growth for and some key facts and important details about the Economics Nobel Prize here in this Veranda RACE article.

Nobel Prize in Economic Sciences Winners 2025 Announced

The Nobel Prize in Economic Sciences 2025 or the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 has been awarded to “Joel Mokyr, Phillipe Aghion & Peter Howitt” by the Royal Swedish Academy of Sciences for “having explained innovation-driven economic growth’ in Stockholm, Sweden on 13 October 2025.

This year’s Nobel Economic Sciences Prize recipients in 2025 are Joel Mokyr from USA, Phillippe Aghion from the United Kingdom and Peter Howitt from the United States.

One half of the Nobel Economics Prize in 2025 will go to Joel Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half is jointly awarded to Phillippe Aghion and Peter Howitt “for the theory of sustained growth through creative destruction.”

Who are the Nobel Economic Sciences Prize Winners in 2025?

The Norwegian Nobel Committee has awarded the 2025 Nobel Economics Prize of one half to Joel Moky from the United States ‘for having identified the prerequisites for sustained growth through technological progress’and the other half of the prize to UK economist Phillipe Aghion and US economist Peter Howitt ‘for the theory of sustained growth through creative destruction’.

Joel Mokyr

Born: 26 July 1946

Born in: Lieden, The Netherlands

Working in: Northwestern University, Evanston, USA

Prize Share: ½

Phillippe Aghion

Born: 17 August 1956

Born in: Paris, France

Working in: College de France, France, INSEAD, France, The London School of Economics and Political Science, UK

Prize Share: ¼

Peter Howitt

Born: 31 May 1946

Born in: Canada

Working in: Brown University, USA

Prize Share: ½

What is the Nobel Prize in Economic Sciences?

The Nobel Prize in Economic Sciences is also known as the Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel.

It is an international prize commonly referred to as the Nobel Prize in Economics.

It is an award given in the field of economic sciences and administered by the Royal Swedish Academy of Sciences sponsored by the Sveriges Riksbank.

The Nobel Economics Prize is awarded to outstanding contributions to mankind in the field of economic sciences. It is administered by the Nobel Foundation and was established in 1968 by the Swedish Central Bank Sveriges Riksbank to celebrate its 300^th anniversary and in memory of Alfred Nobel.

The laureates of the Nobel Prize in Economic Sciences are selected by the Royal Swedish Academy of Sciences, which also selects the winners of the Nobel Prize in Physics and Chemistry.

The Norwegian Nobel Foundation usually announces the winners of the Nobel Prize in Economic Sciences in the month of October every year.

The cash reward for the Nobel Economics Prize in 2025 will be 11 million Swedish kroner (SEK).

Key Facts about the Nobel Prize in Economic Sciences

The Nobel Prize in Economic Sciences has been awarded 57 times since 1969 until 2024.

Between 1969 and 2024, the Nobel Prize in Economic Sciences has been awarded to 99 individual Nobel Peace Prize Laureates.

The Nobel Prize in Economic Sciences was first awarded in 1969 to Dutch economist Jan Tinbergen and Norwegian economist Ragnar Frishch ‘for having developed and applied dynamic models for the analysis of economic purposes’.

Only 3 women have been awarded the Nobel Prize in Economic Sciences until 2025 namely Elinor Ostrom, Esther Duflo and Claudia Goldin.

Esther Duflo is the youngest Nobel Economics Prize laureate and was awarded in 2019 at the age of 46 ‘for their experimental approach to alleviating global poverty’.

The oldest Nobel Economics Prize laureate is Leonid Hurwicz and he was received it at the age of 90 in 2007 ‘for having laid the foundations of mechanism design theory’.

Elinor Ostrom was the first woman laureate to be awarded the Nobel Prize in Economic Sciences in 2009 ‘for her analysis of economic governance, especially the commons’.

The Nobel Prize in Economics 2024 was awarded to Daron Acemoglu, Simon Johnson and James Robinson ‘for studies of how institutions are formed and affect prosperity’.

Nobel Economics Prize: Past Winners

Other Nobel Prize Winners in 2025

Find the detailed list of other Nobel Prize winners in 2025 and laureates with this table below: