Professor Paul Krugman was awarded the Nobel Memorial Prize in Economic Sciences, the sole awardee for 2008, for his work associated with New Trade Theory and for his analysis of trade patterns and location of economic activity.
In the words of the prize committee, "by having integrated economies of scale into explicit general equilibrium models, Paul Krugman has deepened our understanding of the determinants of trade and the location of economic activity."
Paul Krugman is an American economist, columnist, author and intellectual. He is a professor of economics and international affairs at Princeton University, an associate in the Centre for Economic Performance at LSE, and an op-ed columnist for The New York Times.
As a researcher he invented the "new trade theory" and won the John Bates Clark Medal for the best American economist under 40. Krugman is well-known in academia for his work in international economics, including trade theory, economic geography, and international finance.
Krugman earned his BA degree in economics from Yale University in 1974 and his PhD degree from the Massachusetts Institute of Technology (MIT) in 1977. From 1982 to 1983, he spent a year working at the Reagan White House as a staff member of the Council of Economic Advisers. He has taught at Yale University, MIT, UC Berkeley, LSE, and Stanford University.
Paul Krugman has done extensive work in international economics, including work on international trade, economic geography, and international finance. According to the Research Papers in Economics project, he is among the 50 most influential economists in the world today.
Krugman's International Economics: theory and policy, co-authored with Maurice Obstfeld is a standard introductory textbook on international economics. He also writes on economic topics for the general public, sometimes on international economic topics but also on income distribution and public policy. He is generally considered a neo-Keynesian economist, with his views outlined in his books such as Peddling Prosperity.