The winner of the Nobel memorial economics prize is set to be announced in Sweden

The Nobel Memorial Prize in Economic Sciences is set to be announced in Sweden. Monday's announcement is the final prize of this year’s Nobels season. The prize announced by The Royal Swedish Academy of Sciences follows the awards in medicine, physics, chemistry, literature and peace that were announced last week. The economics award was created in 1968 by Sweden’s central bank. It is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Last year’s winners were former Federal Reserve Chair Ben Bernanke, Douglas W. Diamond and Philip Dybvig for their research into bank failures that helped shape America’s aggressive response to the 2007-2008 financial crisis.