The winner, or winners, of this year’s Nobel Prize for economics will be announced at the Royal Swedish Academy of Sciences in Stockholm on Monday.

The prizes carry a cash award of 10 million Swedish kronor (nearly £802,000) and will be handed out on December 10.

Unlike the other prizes, the economics award was not established in Alfred Nobel’s will of 1895 but by the Swedish central bank in his memory. The first winner was selected in 1969.

Last year, half of the award went to David Card for his research on how the minimum wage, immigration and education affect the labour market. The other half was shared by Joshua Angrist and Guido Imbens for proposing how to study issues that do not easily fit traditional scientific methods.

A week of Nobel Prize announcements kicked off on October 3 with Swedish scientist Svante Paabo receiving the award in medicine for unlocking secrets of Neanderthal DNA that provided key insights into our immune system.

Three scientists jointly won the prize in physics on Tuesday. Frenchman Alain Aspect, American John F Clauser and Austrian Anton Zeilinger had shown that tiny particles can retain a connection with each other even when separated, a phenomenon known as quantum entanglement, that can be used for specialised computing and to encrypt information.

The Nobel Prize in chemistry was awarded on Wednesday to Americans Carolyn R Bertozzi and K Barry Sharpless, and Danish scientist Morten Meldal for developing a way of “snapping molecules together” that can be used to explore cells, map DNA and design drugs that can target diseases such as cancer more precisely.

French author Annie Ernaux won this year’s Nobel Prize in literature on Thursday. The panel commended her for blending fiction and autobiography in books that fearlessly mine her experiences as a working-class woman to explore life in France since the 1940s.

The Nobel Peace Prize went to jailed Belarus human rights activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organisation Centre for Civil Liberties on Friday.