The Royal Swedish Academy of Sciences has decided to award the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin “for having advanced our understanding of women’s labour market outcomes.” The esteemed prize, officially designates as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, represents the final accolade among this year”s Nobel awards and carries a prize of 11 million Swedish crowns.

Claudia born in 1946 in New York is a professor at Harvard University in Cambridge. “This year’s Laureate in the Economic Sciences, Claudia Goldin, provided the first comprehensive account of women’s earnings and labour market participation through the centuries. Her research reveals the causes of change, as well as the main sources of the remaining gender gap,” said the Royal Swedish Academy of Sciences.

The Academy thanked Claudia” for her research which now can be used to to know more about the underlying factors and barriers that may to be addressed in the future. The economic award, unlike other Nobel prizes for Science, literature and Peace was not established in the will of inventor and entrepreneur Alfred Nobel, but was introduced later in the year of 1968. It was created and funded by Sweden”s Central Bank.

In the previous year, the esteemed award was given to a trio of US economists, including former Federal Reserve Chair Ben Bernanke for their research into how bank regulation and the provision of public funds to struggling financial institutions can prevent more severe economic crisis, akin to the Great Depression of the 1930″s.

On last Friday, Nobel Peace Prize was awarded to the Iranian jailed human rights activist Narges Mohammadi “for her fight against the oppression of women” in her country and for “promoting human rights and freedom for all”.