14 October 2013 Current Affairs

Eugene Fama, Lars Peter Hansen, Robert Shiller Wins 2013 Nobel Prize For Economics

Three American economists won the Nobel Prize in economics on 14 October for groundbreaking research into asset prices that transformed the way economists and investors evaluate financial markets and showed that it is possible to predict the prices of stocks and bonds over long periods of time.Eugene Fama and Lars Peter Hansen of the University of Chicago and Robert Shiller of Yale University were awarded the top economics prize worth 8 million Swedish kronor ($1.25 million) for their empirical analysis of asset prices.

Former Union Minister Mohan Dharia Died

Former union minister and deputy chairman of Planning Commission Mohan Dharia died on 14 October in New Delhi.He contributed extensively in the fields of politics and environment protection.Mohan Dharia was honoured with the Padma Vibhushan in 2005.During the Indira Gandhi government, he was the Minister of State. He strongly opposed the Emergency, which fetched him the title of Young Turk.He served the nation as a Union Minister and as the Deputy Chairman of Planning Commission.

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