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Trygve Haavelmo was a Norwegian mathematician , economist , and professor . Haavelmo was born on December 13, 1911, in Skedsmo, Norway . He held Norwegian citizenship , and his nationality was also Norwegian .
Haavelmo's academic journey led him to study at both the University of Oslo and University College London (UCL) . His doctoral advisor was Ragnar Frisch , and his fields of expertise included econometrics and macroeconomics . Among his key contributions, Haavelmo was known for his work on the probability approach in econometrics and the balanced budget multiplier .
In recognition of his contribution to the field, Haavelmo was awarded the 1989 Nobel Memorial Prize in Economic Sciences . He passed away on July 26, 1999, in Oslo, Norway .
