Stockholm: Two economists Fin Kydland of Norway and Edward Prescott of the United States won the Nobel Economics Prize for the year 2004 today (Oct 11, 2004) for their contributions to dynamic macroeconomics, according to Nobel jury.

They will share the prize sum of 1.4 million dollars.

The Nobel Economics Prize is the last of the six coveted prizes to be awarded this year, is the only one not originally included in the last Will and testament from the creator of the awards, Swedish inventor Alfred Nobel.

The prize is funded by Swedish Central Bank, which created the prize in commemoration of its tercentenary in 1968 and was first awarded in 1969.