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