The nobel prize for economics goes to Paul Krugman of USA
Today nobel prize foundation announced the economics nobel.This years prize gone to paul krugman of princeton university, for his analysis of trade pattern and locationa of economic activity.
The Royal Swedish Academy of Sciences said the award recognised Mr Krugman's analysis of trade patterns and where economic activity takes place.
It said Mr Krugman, a Princeton University professor, had formulated new theories that answered questions about free trade and globalisation.
It was the last in a series of Nobel prizes announced this year.
"What are the effects of free trade and globalisation? What are the driving forces behind worldwide urbanisation? Paul Krugman has formulated a new theory to answer these questions," the academy said in its citation.
"He has thereby integrated the previously disparate research fields of international trade and economic geography," it added.