By Syed Mansoor Sarwar Alfred Nobel, a Swedish chemist, engineer, inventor, literarian, businessman, and philanthropist, established the Nobel Prize through his will in 1895 to recognize annually those who “have done mankind the greatest good” in Physics, Chemistry, Physiology or Medicine, Literature, and Peace. These highly coveted prizes were first awarded in 1901. The Nobel Prize in Economics, also known as Nobel Memorial Prize in Economic Sciences, was added in 1968 and first awarded in 1969 through a large donation given to the Nobel Foundation by the Swedish National Bank. The Royal Swedish Academy of Sciences awards the prizes in

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