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UCL Alumnus Professor Philippe Aghion Wins 2025 Nobel Prize in Economic Sciences

Strategic Insights

— 1 min read

Professor Philippe Aghion, a former economist at University College London, has been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 for his work on innovation-driven economic growth. Aghion, currently based at the London School of Economics, the College de France, and INSEAD, shares the prestigious award with Joel Mokyr and Peter Howitt for explaining the mechanisms behind sustained economic growth. This is the 33rd Nobel laureate among UCL's alumni and current and former staff.

Key Takeaways:

  • Professor Philippe Aghion, a UCL alumnus, was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 for his work on innovation-driven economic growth.
  • Aghion shares the prize with Joel Mokyr (Northwestern University) and Peter Howitt (Brown University) for explaining the mechanisms behind sustained economic growth.
  • The prize committee acknowledged Aghion's work on the Schumpeterian Growth paradigm, which explains innovation-driven economic growth.
  • Throughout their careers, Aghion and Howitt studied the dynamics of capitalism and constructed a mathematical model for the concept of 'creative destruction'.
  • Professor Aghion received several awards during his time at UCL, including the Yrjo Jahnsson Award in 2001 and the John Von Neumann Award in 2009.
  • The Nobel Prize in Economic Sciences is awarded by The Royal Swedish Academy of Sciences.
  • There have been 33 Nobel Prize laureates amongst UCL's alumni and current and former staff.

Statistics:

  • 33: The number of Nobel Prize laureates amongst UCL's alumni and current and former staff.
  • 1960s: The decade in which the Nobel Prize in Economics was established.
  • 2025: The year in which Professor Aghion was awarded the Nobel Prize in Economic Sciences.
  • 1996-2002: The period during which Professor Aghion was Professor of Economics at UCL.

Sources:

  • "Pioneering academic awarded Nobel Prize in Economic Sciences" (University College London, 2025)
  • "The Nobel Prize in Economics 2025" (The Royal Swedish Academy of Sciences)
  • "Philippe Aghion" (Professor Philippe Aghion's academic profile, University College London)
  • "Nobel Prize in Economics" (The Royal Swedish Academy of Sciences)

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