Princeton economist Paul Krugman, acclaimed in his field for insights into international trade patterns that overturned longheld theories about the global economy before he rose to popular distinction as a media columnist and commentator, has been awarded the 2008 Nobel Prize in economics.

Krugman, a professor in the Department of Economics and in the Woodrow Wilson School of Public and International Affairs since 2000, was greeted with a standing ovation in a packed Dodds Auditorium in Robertson Hall, where Princeton faculty, students and administrators attended an international press conference in Krugman's honor this afternoon.

"It's an incredible honor," said Krugman, who was visibly moved by the welcome from the Princeton community. "It's stunning. It hasn't quite settled in." 

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October 2008