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STOCKHOLM — <\/span>The Nobel memorial prize in economics, the final award in this year’s cycle,<\/a> will be announced Monday by the Royal Swedish Academy of Sciences in Stockholm.<\/p>\n Last year, three researchers who study business innovation won<\/a> for explaining how new products and inventions promote economic growth<\/a> and human welfare, even as they leave older companies in the dust.<\/p>\n The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes.<\/p>\n Nobel purists stress that the economics prize is technically not a Nobel Prize, but it is always presented together with the others on Dec. 10, the anniversary of Nobel\u2019s death in 1896.<\/p>\n Nobel honors were announced last week in medicine, physics, chemistry, literature and peace.<\/a><\/p>\n The prize money this year is 12 million Swedish kronor (about $1.2 million), whether for an individual, small group of laureates or organization.<\/p>\n ___<\/p>\n Dazio reported from Berlin.<\/p>\n ___<\/p>\n AP Nobel Prizes: https:\/\/apnews.com\/hub\/nobel-prizes<\/a><\/p>\n<\/div>\n