ISTANBUL. - Known Istanbul-based Armenian economist Taron Acemoglu received the annual award of the Galatasaray Union, handed out by the known Galatasaray Lyceum. The Award Ceremony took place at the Tevfik Fikret Hall at Galatasaray Lyceum.

A statement on the Official website of the Galatasaray Union states that the award is given every year since 1908 to those Turkish citizens who pay great contribution to the prosperity of Turkey. According to the statement the Council of the Union decided to give the award to Acemoglu unanimously. According to IDEAS/RePec Acemoglu is amongst the top 20 most quoted economists of the world. He ranks 8th in the list, while Nobel Prize winner, economist Paul Krugman ranks 13th.