Ragnar Frisch, (b. 1895, in Oslo, Norway) was awarded the first Nobel Prize in economic science in 1969. The prize was established in 1968 from a Swedish national bank and is dedicated to the memory of Alfred Nobel, it carries the same cash award as the other prizes.

Professor Frisch and Jan Tinbergen shared the Nobel Prize award for the development of mathematical tecniques in the analysis of economic activity - which went on to become a specialty called econometrics.

Frisch studied economics at the University of Oslo and went on to become an assistant professor there. He founded the Institute of Economics (funded by Rockefeller) there in 1932. He also founed the Econometric Society in 1930.

The Ragnar Frisch Centre for Economic Research was founded in honor of Frisch by the University of Oslo.

Frisch helped to pioneer the Cowles program on econometrics, at the Cowles Commission, at the University of Chicago in the 1930s.

An intresting tidbit: Ragnar Frisch coined the terms microeconomics and macroeconomics.

Some of his works include:

Changing Harmonics and Other General Types of Components in Empirical Series”, 1928
Correlation and the Scatter of Statistical Variables”, 1929
The Interrelation between Capital Formation and Consumer-Taking”, 1931
Propagation and Impulse Problems in Dynamic Economics”, 1933

http://www.nobel.se/economics/laureates/1969/frisch-autobio.html http://more.abcnews.go.com/sections/world/nobel_biography/ http://www.econlib.org/library/Enc/bios/Frisch.html http://cepa.newschool.edu/het/profiles/frisch.htm