Americans Thomas Sargent and Christopher Sims won the Nobel economics prize “for their empirical research on cause and effect in the macroeconomy,” The prize committee said the winners have developed methods for answering questions such as how economic growth and inflation are affected by a temporary increase in the interest rate or a tax cut. Sargent and Sims carried out their research independently in the 1970s and ‘80s. Photo: AP
Dan Shechtman won the Nobel Prize for his discovery of the mosaic-like chemical structure that researchers previously thought was impossible. Photo: AP
Liberian activist Leymah Gbowee, Liberian President Ellen Johnson Sirleaf and Tawakkul Karman of Yemen shared the Nobel Peace Prize 2011“for their non-violent struggle for the safety of women and for women’s rights to full participation in peace-building work”. Photo: AP