<p>The Nobel Prize (Swedish pronunciation: [noˈbɛl], Swedish definite form, singular: Nobelpriset, Norwegian: Nobelprisen) is a set of annual international awards bestowed in a number of categories by Scandinavian committees in recognition of cultural and scientific advances. The will of the Swedish chemist Alfred Nobel, the inventor of dynamite, established the prizes in 1895. The prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace were first awarded in 1901.
The Peace Prize is awarded in Oslo, Norway, while the other prizes are awarded in Stockholm, Sweden. The Nobel Prize is widely regarded as the most prestigious award available in the fields of literature, medicine, physics, chemistry, peace and economics.
In 1968, Sveriges Riksbank instituted an award that is often associated with the Nobel prizes, the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The first such prize was awarded in 1969. Although it is not an official Nobel Prize, its announcements and presentations are made along with the other prizes.
The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics, the Nobel Prize in Chemistry, and the Nobel Memorial</p>