The 2018 Nobel Memorial Prize in Economic Sciences was awarded Monday to Paul Romer, a former UC Berkeley economics professor, who shares the prize with Yale University professor William Nordhaus. This prize was established in 1968 by the Central Bank of Sweden as a memorial to Alfred Nobel.

Romer, who is currently a professor at the New York University Stern School of Business, was awarded the prize for integrating technological innovations into macroeconomic analysis. Romer was a campus professor from 1990 to 1996 and also worked as the chief economist and senior vice president of the World Bank from 2016 to January 2018.

Romer is the third 2018 Nobel Prize recipient associated with UC Berkeley. Former campus professor James Allison won the Nobel Prize in medicine, and campus alumna Frances Arnold won the prize in chemistry.