In which year was the Nobel Prize in Economics, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, first awarded?

Introduction / Context:
This question checks your awareness of the history of the Nobel Prize in Economics, which is formally called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It was added later than the original Nobel Prizes, and the key point is the year when it was first awarded.

Given Data / Assumptions:

• The focus is the Nobel Prize in Economics, not the original Nobel categories.
• We are asked for the year it was first awarded.
• Four years are given as options: 1901, 1936, 1968 and 1969.
• You need to know or recall the correct year.

Concept / Approach:
The original Nobel Prizes in fields such as Physics and Literature were first awarded in 1901. The Economics prize, however, was established much later by the central bank of Sweden. It was created in 1968 and first awarded in 1969. Therefore, the correct answer is the year of the first award, not the year of creation or the start of the original Nobel set.

Step-by-Step Solution:
Step 1: Remember that the original Nobel Prizes began in 1901, but Economics was not part of that group. Step 2: Note that the Swedish central bank created the Economics prize in 1968 to honour Alfred Nobel legacy. Step 3: The first recipients, Ragnar Frisch and Jan Tinbergen, received the prize in 1969. Step 4: From the options, 1969 is therefore the year when the prize was first actually awarded. Step 5: Choose 1969 as the correct answer.

Verification / Alternative check:
Official Nobel Prize summaries and many reference sources state that the Economics prize was established in 1968 and first awarded in 1969. This matches the names of the earliest laureates, which confirms that 1969 is the correct year to select.

Why Other Options Are Wrong:
1901: Start of the original Nobel Prizes, but Economics was not included then.
1936: No special event for the Economics prize in that year.
1968: Year of creation of the prize fund, but the first award was given in the next year.

Common Pitfalls:
Many learners confuse creation year with first award year and pick 1968. Always read the wording carefully; here the phrase first awarded makes 1969 the correct choice.

Final Answer:
1969