Nobel Prize in Economics for the year 1997 was awarded for contribution in the area of
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UPSC Civil Services preparation
- AInternational Economics
- BFinancial EconomicsCorrect
- CPublic Economics
- DDevelopment Economics
Explanation
The Nobel Prize in Economics for 1997 was awarded to Robert C. Merton and Myron S. Scholes for their pioneering work in the field of Financial Economics. They developed a new method to determine the value of derivatives, specifically through the Black-Scholes Model.
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