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Nobel Prize in Economics for the year 1997 was awarded for contribution in the area of:  

(a) International Economics 

(b) Financial Economics 

(c) Public Economics 

(d) Development Economics

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(b) The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel 1997 was awarded jointly to Robert C. Merton and Myron S. Scholes “for a new method to determine the value of derivatives”. Besides their valuation method, they have made signficant contibutions to finance economics.

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