The Nobel Prize is one that is already known worldwide and many people aim to receive it. It was established in the year of 1985 by the scientist Alfred Nobel of the Swedish origin. That is why the Nobel Prize awards come from the Swedish and also the Norwegians institutions. It is aimed to give recognition to the people who have made a contribution in the field of cultural aspect, scientific, and academic fields. The prizes that were established were for chemistry, physics, literature, peace and medicine or physiology.
The prizes were then awarded for the first time in the year 1901. When the year of 1968 arrives, the Nobel Prize in Economics was added to the awards by the Central Bank of Sweden. The awards are one that is considered as the award ranked as the most prestigious in the fields that it covers. That is why many who had received the award has a very good record of accomplishment. The awards are given by the different departments in Sweden but the Nobel Peace Prize is given to the Norwegian Nobel Committee.
The prizes were already awarded hundred times since it was given. There is a laureate waiting for the recipient, a gold medal, money (as decided by the foundation), and a diploma. This award is special because even if the recipient dies, the award would still be presented in his name. When the 20th century came, there is an increase in the number of the recipients of one prize so the money award is divided.