Nobel prize was introduced by wealthy Swedish industrialist Alfred Nobel -- the inventor of dynamite, except for the economics award, which was created by Sweden's central bank in 1968 in Nobel's memory.
The prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace were first awarded in 1901.
The economics Nobel prize was awarded in 1969.
Alfred Nobel is known for his inventions in the field of armaments. One of the most notable invention is the dynamite.In 1888, Alfred was astonished to read his own obituary, titled ‘The merchant of death is dead’, in a French newspaper. After 8 years in 1896 when Alfred Nobel passed away, to everyone's astonishment the last will specified that his fortune be used to create a series of prizes for those who confer the "greatest benefit on mankind" in physics, chemistry, peace, physiology or medicine, and literature.