Nobel Memorial Prize in Economic Sciences
The first prize in economics was awarded in 1969 to Ragnar Frisch and Jan Tinbergen "for having developed and applied dynamic models for the analysis of economic processes". In 2009, Elinor Ostrom became the first woman awarded the prize.
Paul Ehrenfest
Ehrenfest was also interested in developing mathematical theories in economics. This interest was stimulated by his notion that there should be an analogy between thermodynamics and economic processes. While this did not result in publications, he did encourage his graduate student Jan Tinbergen to follow up on this. Tinbergen's thesis was devoted to problems both from physics and economics, and he went on to become an economist and was awarded the first Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1969.