Amartya Sen was awarded the Nobel Prize in Economics in 1998 for his work in welfare economics. Welfare economics is a branch of economics that studies the optimal allocation of resources to maximize social welfare. Sen’s work in this field has been influential in the development of economic policy and has helped to improve the lives of millions of people around the world.
Monetary economics is a branch of economics that studies the production, distribution, and management of money. Environmental economics is a branch of economics that studies the interaction between the economy and the environment. Development economics is a branch of economics that studies the economic development of countries.
While Sen’s work has had an impact on all of these fields, his Nobel Prize was awarded specifically for his contributions to welfare economics.