The 2018 Nobel Prize in Economics was awarded on to the duo of American economists William D. Nordhaus and Paul M. Romer for designing model that address issues such as the "long-term sustainable growth in the global economy and the welfare of the world's population," the award's committee said in a statement.
Mr. Nordhaus was considered for his research on the implications of environmental factors, including climate change. Mr. Romer was cited for his work on the importance of technological change.
BREAKING NEWS: ⁰The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018 to William D. Nordhaus and Paul M. Romer. #NobelPrize pic.twitter.com/xUs6iSyI7h— The Nobel Prize (@NobelPrize) 8 October 2018