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He has also served on the UN Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda. The 2019 Nobel Prize in economics was awarded Monday to three economists: Prof Abhijit Vinayak Banerjee, his wife Prof Esther Duflo and Prof Michael Kremer, for their decades-long research on how to move people out of poverty. All Rights Reserved. He was also part of a group of 108 Indian and foreign economists and social scientists who raised concerns over “political interference” in statistical data presented by the Indian government, and was critical of the 2016 demonetisation program that took almost 90% of India’s cash out of circulation. Banerjee was born in India and educated in the same college that has produced another Nobel prize winner in Economics: Dr Amartya Sen. She works with MIT alumni, friends, and supporters across the globe to identify, help plan, and find support for MIT’s international initiatives. He completed his doctoral studies in Harvard in 1988 and briefly taught there along with Princeton University, before moving to MIT where he is currently the Ford Foundation International Professor of Economics. He was a brilliant student, who stood first in most examinations. After these findings, the committee said, the World Health Organization recommended that medicine be distributed for free to more than 800 million schoolchildren in areas where more than 20 per cent have a certain kind of parasitic worm infection. Abhijit has a child with co-researcher and MIT professor Esther Duflo, who he married in 2015 after living together for a while. Following this, Banerjee completed his MA in economics from Jawaharlal Nehru University, Delhi in 1983. Here is a list of the winners of the past 25 years: 2019: Abhijit Banerjee (US), Esther Duflo (France-US), Michael Kremer (US), 2018: William Nordhaus (US) and Paul Romer (US), 2016: Oliver Hart (Britain-US) and Bengt Holmstrom (Finland), 2013: Eugene Fama, Lars Peter Hansen and Robert Shiller (US), 2011: Thomas Sargent and Christopher Sims (US), 2010: Peter Diamond and Dale Mortensen (US) and Christopher Pissarides (Cyprus-Britain), 2009: Elinor Ostrom and Oliver Williamson (US), 2007: Leonid Hurwicz, Eric Maskin and Roger Myerson (US), 2005: Thomas Schelling (US), Robert J. Aumann (US-Israel), 2004: Finn Kydland (Norway), Edward Prescott (US), 2003: Robert Engle (US), Clive Granger (Britain), 2002: Daniel Kahneman (Israel-US) and Vernon Smith (US), 2001: George Akerlof (US), A. Michael Spence (US), Joseph Stiglitz (US), 2000: James Heckman (US), Daniel McFadden (US), 1997: Robert Merton (US), Myron Scholes (US), 1996: James Mirrlees (Britain), William Vickrey (US). In 2009, he also was honoured with the Infosys Prize in the social sciences category of economics. His father, Dipak Banerjee, was a professor and the head of the Economics Department at Presidency College, Calcutta. “The experimentation was done mainly in India and in countries afflicted by various problems related to poverty,” he said. reference purposes only and does not imply any association with the trademark holder. B-II/66, MCIE, First Floor, Mathura Road,New Delhi. Empower Your Business Applications with Industry-Leading Relationship Data from the RelSci API. Duflo is also a Professor of Poverty Alleviation and Development Economics at MIT. And he can cook a sumptuous meal. Massachusetts Institute of Technology (MIT) is a private research university located in Cambridge, Massachusetts, United States. “It could be health, it could be education or it could be any other social issue people are faced with. This section is about Living in UAE and essential information you cannot live without. Banerjee has been honoured along with his wife Esther Duflo and Michael Kremer for pioneering new ways to alleviate global poverty. Senior Director for Global Initiatives, Resource Development at Massachusetts Institute of Technology, Senior Director for Global Initiatives, Resource Development. The Banerjees moved to Kolkata when Dipak joined Presidency College. We’ll send you latest news updates through the day. He was born in Mumbai in 1961; his mother, who is also an economist, is a Marathi. For reprint rights: Times Syndication Service. Abhijit and Arundhati had one son together and later divorced. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific, engineering, and technological education and research. RelSci Relationships are individuals Arundhati Tuli Banerjee likely has professional access to. It said the results of their studies and field experiments had ranged from helping millions of Indian schoolchildren with remedial tutoring to encouraging governments around the world to increase funding for preventative medicine. That might not be possible any longer, as Banerjee became the most talked-about man in India on October 14, when the Royal Swedish Academy of Sciences announced that he, along with Esther Duflo and Michael Kremer, were the recipients of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Relationship Science Abhijit Vinayak Banerjee was married to Dr Arundhati Tuli Banerjee, a lecturer of literature at MIT. 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