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BEIJING, Oct. 13 (Xinhuanet) -- Scottish economist Angus Deaton has won the Nobel memorial prize in economic sciences "for his analysis of consumption, poverty, and welfare."
The Royal Swedish Academy of Sciences says the work of the Princeton economics professor has helped transform modern microeconomics, macroeconomics and development economics. That was by emphasising the links between individual consumption decisions and outcomes for the whole economy.
The 69-year-old Deaton was born in Edinburgh in 1945 and holds both U.S. and British citizenship. He has been a professor of economics and international affairs at Princeton University since 1983.
The prize comes with an award of eight million Swedish kronor, or about 975,000 US dollars.
(Source: CNTV.cn)
