Nobel Prize in Economic Science 2023 

The final Nobel prize of the year, the 2023 Nobel Prize in Economic Sciences has been awarded to Economist Claudia Goldin, a Harvard University professor, for “having advanced our understanding of women’s labour market outcomes” on 9th October. 

The Nobel Prize in Economic Sciences, unlike the other Nobel prizes mentioned in Alfred Nobel’s 1895 will, was established in 1968 through a donation from Sveriges Riksbank, Sweden’s central bank, on the occasion of the bank’s 300th anniversary.

Goldin discussed the gap between wages received by men and women, and the participation of women in the labour market over 200 years. Her work applies to many countries, even though, it is generally based on the economic history of the United States of America. She explained how different factors such as social rules, a woman’s responsibility for home and family, and marriage etc played important roles in gaining higher education and successful careers. 

Goldin became the third woman to receive this honour. In 2009, Elinor Ostrom got the award, while in 2019, Esther Duflo shared it with Abhijit Banerjee and Michael Kremer.