The Royal Swedish Academy of Science's citation, awarding the prize to Sen, says: ``Prof Sen's contribution to welfare economics... (and) applications of his theoretical approach have enhanced our understanding of the economic mechanisms underlying famines. He has made a number of noteworthy contributions to central fields of study for subsequent generation of researchers.''

Speaking to The Indian Express from New York, Sen said: ``It is terribly nice to get it. I am pleased. I am happy that the subject chosen (in the citation) is one that I think makes needed emphasis.'' In his usual self-effacing style, Professor Sen added: ``A lot of very good work has been done... this is also a recognition of the subject than just of me..''

Sen's work hasbrought what one former colleague called ``a real dimension to discussions of economics''. The questions that he is concerned with deal with issues of democracy, the assessment of poverty and poverty reduction and human welfare not in terms of goods and services, but of widening choices for people through empowerment.

Sen, whom a fellow economist once called the ``conscience of the trade'' has been awarded the prize for work ranging from the theory of social choice, through definitions of welfare and poverty, to studies of famine, all of which are linked by an interest in how resources are distributed, and how all of this affects the poorest in society.

For Sen, currently Master of Trinity College, Cambridge, the prize has been a long time coming. The first reaction among colleagues and students to news of the prize was: ``About time too.'' Roli Asthana, a research student at the London School of Economics said excitedly: ``Three cheers for development studies.'' She reflected the feeling of most in theprofession who feel that the prize has over the years been trivialised by being awarded to people who have produced technical solutions for some obscure problem relating to the functioning of the financial markets. Rathin Roy, lecturer at London University said: ``The prize is long overdue...and hopefully by giving it to an economic philosopher it also recognises that economics is about more than second-rate math and second-rate physics.''

For many, Sen's philosophical critique of the conceptual foundations of economics and his humanitarian approach to the discipline is what made his contribution outstanding. Geoffrey Harcourt at Cambridge University, a contemporary of Sen when he was a student at the university said: ``This is a wonderful signal... Amartya works on the sort of issues that economists should work on... He is in the same league as people like Smith, Ricardo, Marx, Keynes and Kalecki...''

Lord Desai, Professor at the LSE, said the prize recognised Sen's contribution ``to make economics servesome human purpose in a unique manner... His work has spanned social choice, economic development, famine and poverty, he has contributed to human philosophy and rigorous economics with the aim of bettering the lot of the people.''

Professor Ben Fine, at the School of Oriental and African Studies said ``Sen's award is long overdue. He stands head and shoulders above other economists of his generation.'' Professor Fine whose Ph.D. was supervised by Sen added, ``His breadth of scholarship stands in sharp contrast to previous laureates as does his capacity to address major issues of our time in ways that reflect the real world rather than depart from it.''

Dr S K Rao, at the Commonwealth Institute said it was ``wonderful news .. By giving the prize to Amartya, they have come to the mainstream of economics which is concerned with the human condition and not with some kind of technical solution to some obscure problem.''