London : Three US economists, one among them an Indian-origin, Abhijit Banerjee, Esther Duflo and Michael Kremer were awarded the Nobel Prize in Economics for 2019 “for their experimental approach to alleviating global poverty”as announced by the Royal Swedish Academy of Science on Monday. The trio won the Nobel Prize in economics for their experiment-based approach to tackling poverty in the fast-growing area of development economics.
Among the winners, Indian-origin Economist Banerjee and Duflo are working in the Massachusetts Institute of Technology, Cambridge, while Kremer is working at Harvard University, Cambridge, USA. Esther Duflo is only the second female winner of the Nobel prize in economics, 50 years after it was first awarded.
Abhijit Vinayak Banerjee was educated at the University of Calcutta, Jawaharlal Nehru University and Harvard University, where he received his Ph.D in 1988. He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology.
The key to their research is to take the daunting issue of global poverty, and break it down into smaller questions which can be more credibly answered. For example, the Swedish Academy said, to find ways to improve children health by examining various experimental approaches, such as education methods, health systems, agricultural approaches, and access to credit.