Nobel Memorial Prize in Economic Sciences
Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes".
Kiel Institute for the World Economy
Erich Schneider (1900–1970) succeeded Fritz Baade as the director of the Institute in 1961. As the leading proponent of Keynesianism in Germany at the time and the author of a multivolume bestseller entitled "Einführung in die Volkwirtschaftslehre" (Introduction to Economics), he affiliated the Institute more closely with the University of Kiel, which resulted in many researchers at the Institute becoming professors at German and non-German universities. He also established the Bernhard Harms Prize in 1964 upon the Institute's 50th anniversary. The first person to be awarded the prize, Gerhard Colm, was a former researcher at the Institute, a professor, an advisor to President Truman, and the engineer of the German currency reform in 1948. By the 1970s, the Institute was recognized as "the most prestigious of the five main economic think tanks in Germany".