Goldin is only the third woman to win the prize, which was announced by Hans Ellegren, secretary-general of the Royal Swedish Academy of Sciences, in Stockholm.<\/p>\n
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Claudia Golden has won the Nobel Prize in economics.<\/span>Credit: <\/span>AP<\/cite><\/p>\n \u201cUnderstanding women\u2019s role in the labour market is important for society. Thanks to Claudia Goldin\u2019s groundbreaking research, we now know much more about the underlying factors and which barriers may need to be addressed in the future,\u201d said Jakob Svensson, chair of the Committee for the Prize in Economic Sciences.<\/p>\n Goldin, 77, \u201cwas surprised and very, very glad,\u201d Ellegren said on being told of her win.<\/p>\n \u201cClaudia Golden\u2019s discoveries have vast societal implications,\u201d said Randi Hjalmarsson, a member of the prize committee. \u201cBy finally understanding the problem and calling it by the right name, we will be able to pave a better out forward.\u201d<\/p>\n It follows the awards in medicine, physics, chemistry, literature and peace that were announced last week.<\/p>\n The economics award was created in 1968 by Sweden\u2019s central bank and is formally known as the Bank of Sweden Prize in Economic Sciences in memory of Alfred Nobel.<\/p>\n Last year\u2019s winners were former Federal Reserve Chair Ben Bernanke, Douglas W. Diamond and Philip Dybvig for their research into bank failures that helped shape America\u2019s aggressive response to the 2007-2008 financial crisis.<\/p>\n The prizes are handed out at awards ceremonies in December in Oslo and Stockholm. They carry a cash award of 11 million Swedish kronor (about $A1.t million). Winners also receive an 18-carat gold medal and diploma.<\/p>\n