NEWS
- 25 March | The Honest UPSC Talk Nobody Tells You Click Here to see Abhijit Asokan AIR 234 talk →
- 10 March | SFG Folks! This dude got Rank 7 in CSE 2025 with SFG! →
- 10 March | SFG Folks! She failed prelims 3 times. Then cleared the exam in one go! Watch Now! →
- Nobel Prize 2018 in Economic Sciences (The Sveriges Riksbank Prize) was divided equally between William D. Nordhaus and Paul M. Romer.
- William D. Nordhaus and Paul M. Romer have designed methods for about how we create long-term sustained and sustainable economic growth.
- William D. Nordhaus have been contributed “for integrating climate change into long-run macroeconomic analysis. He became the first person to create an integrated assessment model, e. a quantitative model that describes the global interplay between the economy and the climate. Nordhaus’ model is used to examine the consequences of climate policy interventions, for example carbon taxes.
- Paul M. Romer has integrated technological innovations into long-run macroeconomic analysis. Romer demonstrated how knowledge can function as a driver of long-term economic growth by his “endogenous growth theory” which explains how ideas are different to other goods and require specific conditions to thrive in a market. Romer’s theory has generated vast amounts of new research into the regulations and policies that encourage new ideas and long-term prosperity.
