The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

In 1968, Sveriges Riksbank (Sweden's central bank) established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. The Prize is based on a donation received by the Foundation in 1968 from Sveriges Riksbank on the occasion of the Bank's 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.

The Prize in Economic Sciences in Memory of Alfred Nobel is awarded by the Royal Swedish Academy of Sciences according to the same principles as for the Nobel Prizes that have been awarded since 1901.

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The Nobel Peace Prize

“The said interest shall be divided into five equal parts, which shall be apportioned as follows: /- - -/ one part to the person who shall have done the most or the best work for fraternity between nations, the abolition or reduction of standing armies and for the holding and promotion of peace congresses.”
(Excerpt from the will of Alfred Nobel)

Alfred Nobel was interested in social issues. He developed a special engagement in the peace movement. An important factor in Nobel’s interest in peace was his acquaintance with Bertha von Suttner. Perhaps his interest in peace was also due to the use of his inventions in warfare and assassination attempts? Peace was the fifth and final prize area that Nobel mentioned in his will.

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The Nobel Prize in Literature

“The said interest shall be divided into five equal parts, which shall be apportioned as follows: /- - -/ one part to the person who shall have produced in the field of literature the most outstanding work of an idealistic tendency ...”
(Excerpt from the will of Alfred Nobel)

Alfred Nobel had broad cultural interests. The interest that he developed in literature during his early youth lasted throughout his life. His library holds a rich spectrum of literature in different languages. Further evidence of Nobel’s literary interest was that during the last years of his life, he began writing fiction again. Literature was the fourth prize area Nobel mentioned in his will.

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The Nobel Prize in Physiology or Medicine

“The said interest shall be divided into five equal parts, which shall be apportioned as follows: /- - -/ one part to the person who shall have made the most important discovery within the domain of physiology or medicine ...”
(Excerpt from the will of Alfred Nobel)

Alfred Nobel had an active interest in medical research. Through Karolinska Institutet he came into contact with Swedish physiologist Jöns Johansson around 1890. Johansson worked in Nobel’s laboratory in Sèvran, France for a time that year. Physiology or medicine was the third prize area Nobel mentioned in his will.

In 1901, Emil von Behring was awarded the first Nobel Prize in Physiology or Medicine for his work on serum therapy, particularly for its use in the treatment of diphtheria. The Medicine Prize has subsequently highlighted a number of important discoveries including penicillin, genetic engineering and blood-typing.

The Nobel Prize in Physiology or Medicine is awarded by the Nobel Assembly at Karolinska Institutet.

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The Nobel Prize in Chemistry

“The said interest shall be divided into five equal parts, which shall be apportioned as follows: /- - -/ one part to the person who shall have made the most important chemical discovery or improvement ...”
(Excerpt from the will of Alfred Nobel)

Chemistry was the most important science for Alfred Nobel’s own work. The development of his inventions as well as the industrial processes he employed were based upon chemical knowledge. Chemistry was the second prize area that Nobel mentioned in his will.

In 1901 the very first Nobel Prize in Chemistry was awarded to Jacobus H. van 't Hoff for his work on rates of reaction, chemical equilibrium, and osmotic pressure. In more recent years, the Chemistry Laureates have increased our understanding of chemical processes and their molecular basis, and have also contributed to many of the technological advancements we enjoy today.

The Nobel Prize in Chemistry is awarded by the Royal Swedish Academy of Sciences.

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The Nobel Prize in Physics

“The said interest shall be divided into five equal parts, which shall be apportioned as follows: /- - -/ one part to the person who shall have made the most important discovery or invention within the field of physics ...”
(Excerpt from the will of Alfred Nobel)

Physics was the prize area which Alfred Nobel mentioned first in his will. At that time, in the end of the nineteenth century, many people viewed physics as the foremost of the sciences, and perhaps Nobel saw it this way as well. His own research was also closely tied to physics.

In 1901 the very first Nobel Prize in Physics was awarded to Wilhelm Röntgen for his discovery of X-rays. In more recent years, the Physics Prize has been awarded for both pioneering discoveries and groundbreaking inventions.

The Nobel Prize in Physics is awarded by the Royal Swedish Academy of Sciences.

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The Nobel Prizes

Every year since 1901 the Nobel Prize has been awarded for achievements in physics, chemistry, physiology or medicine, literature and for peace. The Nobel Prize is an international award administered by the Nobel Foundation in Stockholm, Sweden. In 1968, Sveriges Riksbank established The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. Each prize consists of a medal, personal diploma, and a cash award.

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