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UPSC 1998: Nobel Prize in Economics for the year 1997 was awarded for contribution in the area of
(a)International Economics
(b)Financial Economics
(c)Public Economics
(d)Development Economics
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Not attemptedCorrect Answer: (b) Financial Economics
Robert C. Merton and Myron Scholes shared the 1997 Nobel (Sveriges Riksbank) Prize in Economic Sciences for developing a new method to value derivatives—work squarely located in Financial Economics. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Robert_C._Merton?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 1998 Current Affairs question?▼
The correct answer is option (b): Financial Economics. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Awards & Honours question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1998, GS Paper 1, as Question 83. It falls under Current Affairs > Awards & Honours.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Awards & Honours?▼
UPSC has asked 25 questions from Awards & Honours (under Current Affairs) across multiple years. Visit the topic page to see the full list and year-wise trends.