Daron’s buying the drinks the next time we meet.

From NU:

Acemoglu’s award of the 2012 Erwin Plein Nemmers Prize in Economics is “for fundamental contributions to the understanding of political institutions, technical change and economic growth.”

He is an extremely productive economist whose work is motivated by real-world questions that arise when facts are difficult to reconcile with existing theory. Acemoglu’s research covers a wide range of areas within economics, including political economy, economic development and growth, human capital theory, growth theory, innovation, search theory and network economics and learning.  His work has propelled him to the frontier of each of the variety of fields he has explored and he has been especially innovative in his most recent area of study dealing with the role of institutions in the political and economic development of nations.

Each of the prizes carries a $200,000 stipend, among the largest monetary awards in the United States for outstanding achievements in economics and mathematics. The 2012 prizes mark the 10th time Northwestern has awarded the two prizes and the fourth time the amount of the stipend has been increased.

The Nemmers prizes are given in recognition of major contributions to new knowledge or the development of significant new modes of analysis. Five out of 10 Nemmers economics prize winners have gone on to win a Nobel prize. (Those who already have won a Nobel prize are ineligible to receive a Nemmers prize.)