BOSTON (CBS/AP) – Two researchers with ties to MIT were awarded the Nobel Prize for economics Monday.
William Nordhaus of Yale University was named for integrating climate change into long term macroeconomic analysis.
New York University’s Paul Romer was awarded for factoring technological innovation into macroeconomics.
According to the Boston Globe, Nordhaus earned his doctorate from the Massachusetts Institute of Technology in 1967.
Romer graduated from Phillips Exeter Academy in Exeter, New Hampshire and did graduate work at MIT, according to the paper.
He told the Associated Press he ignored two telephone calls Monday morning before the Swedish Royal Academy of Sciences was able to get through to him.
“I didn’t answer either because I thought it was a spam call,” Romer said.
Both men will share the $1.01 million prize.
(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)