<h1 class="ql-align-center">Nobel Economics Prize 2021</h1> <h2>Context:</h2> <ul><li>The&nbsp;2021 Nobel Prize in Economic Sciences&nbsp;has been awarded in one half to&nbsp;Canadian-born David Card&nbsp;and the&nbsp;other half jointly to Israeli-American Joshua D Angrist and Dutch-American Guido W Imbens.</li></ul> <h2>About:</h2> <ul><li>Nobel Economics Prize also known as Sveriges Riksbank Prize in Economic Sciences.</li></ul> <ul><li>Unlike the other Nobel prizes, the economics award wasn’t established in the will of Alfred Nobel but by the&nbsp;Swedish central bank&nbsp;in his memory in 1968.</li></ul> <ul><li>The Prize is based on a donation received by the Nobel Foundation from Sveriges Riksbank on the occasion of the Bank’s 300th anniversary</li></ul> <h2>Contribution:</h2> <ul><li>2021 Nobel Prize in Economic Sciences was given for their work on the “use of natural experiments” on the impact of minimum wage, immigration, and education on the labour markets </li></ul> <ul><li>David Card has been awarded for his empirical contributions to labour economics.</li></ul> <ul><li>Joshua D Angrist and Guido W Imbens won the award “for their methodological contributions to the analysis of causal relationships.”</li></ul>