why did Muhammad Yunus get the noble peace prize, rather than the nobel peace prize for economics?

Question

explain why, based on his work he should have won the prize in economics?

Answer 1

In the first place, one does not receive the Nobel Peace Prize for Economics. One simply receives the Nobel Prize for Economics. The Nobel Peace Prize is in a separate category.

As for why Yunus, a renowned economist, received the Peace prize rather than the Economics prize, the Nobel Committee clearly considered his work, particularly in his development of the idea of microcredit, as something that transcended economics and contributed to world peace. Specifically, the Committee sited Yunus, and the Grameen Bank that he founded to make the microcredit loans, "for their efforts to create economic and social development from below."