Contribution of Nobel laureates in development of economic thought

Abstract

The views of Nobel laureates in economic science belong to different waves of economic thoughts which give the opportunity to become familiar with the controversy developed in the field of economic science and concrete problems that affected the world’s economy in each period. The paper presents a summary of contributions of Nobel laureates in five fields of economic science: in Macroeconomics, Partial and General Equilibrium, Interdisciplinary Research and New methods of Economic Analysis. The focus is mainly in the contribution of Nobel Prize laureates and the year of Nobel Prize Award from 1969-2007. Furthermore, the paper presents the institutional distribution of laureates and their classification according to their life cycle creativity.