The Royal Swedish Academy of Sciences awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2025 to three economists for showing how technological progress has led to sustained economic growth.
Mokyr receives half of the prize for his development of a theory for sustained economic growth. Mokyr identified three important requisites for growth: useful knowledge, mechanical competence and institutions conducive to technological progress.
The other half of the prize is shared between Philippe Aghion and Peter Howitt, who received his PhD in Economics from Northwestern in 1973.
Our world-class department owes its reputation to outstanding faculty dedicated to teaching and research, as well as engaged students who take advantage of learning opportunities in and beyond the classroom.
The Economics major and minor are open to all undergraduates. The Ph.D. program has 125 students in residence.
Learn about faculty accomplishments, publications and news.
Our distinguished faculty includes fellows of the American Economic Association, members of the National Academy of Sciences, and editors of the American Economic Review and other prestigious journals. Longtime faculty member Dale Mortensen was winner of the 2010 Nobel Prize in Economics, and Prof. Joel Mokyr is winner of the 2025 Nobel Prize in Economics.
On Monday, October 13, 2025, economic historian Prof. Joel Mokyr was awarded the 2025 Nobel Memorial Prize in Economic Sciences.
Learn about the innovative research of our faculty.
12:00 PM - 1:30 PM, Evanston
THIS EVENT IS CANCELED. Speaker: Tomer Novikov Title: The lack of use of violence in the 1936 Spanish military coup: Bayesian updates a...
