Economics prize in memory of Alfred Nobel was set up by Sweden's Riksbank

Background

In 1968, Sveriges Riksbank (Sweden's central bank) established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
It is based on a donation to the Nobel Foundation from the Riksbank on the occasion of the Bank's 300th anniversary.
The prize amount is the same as for the Nobel Prizes and is paid by the Riksbank.
The first prize was awarded in 1969 to Ragnar Frisch and Jan Tinbergen.
It is awarded by the Royal Swedish Academy of Sciences, Stockholm, according to the same principles as the Nobel Prizes awarded since 1901.