The Nobel Prize (Swedish: Nobelpriset) is a Swedish & International monetary prize, established by the 1895 will and estate of Swedish chemist and inventor Alfred Nobel. It was first awarded in Physics, Chemistry, Physiology or Medicine, Literature, and Peace in 1901. An associated prize, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was instituted by Sweden's central bank in 1968 and first awarded in 1969. The Nobel Prizes in the specific disciplines (Physics, Chemistry, Physiology or Medicine, and Literature) and the Prize in Economics, which is commonly identified with them, are widely regarded as the most prestigious award one can receive in those fields. The Nobel Peace Prize conveys social prestige and is often politically controversial.
With the exception of the Nobel Peace Prize, the Nobel Prizes and the Prize in Economics are presented in Stockholm, Sweden, at the annual Prize Award Ceremony on the 10th of December, the anniversary of Nobel's death. The recipients' lectures are presented in the days prior to the award ceremony. The Nobel Peace Prize and its recipients' lectures are presented at the annual Prize Award Ceremony in Oslo, Norway, also on the 10th of December. The reason why Norway distributes a part of the prize is that at the time of Alfred Nobel's death, Norway and Sweden were joined together in a personal union known as the Swedish-Norwegian Union. The award ceremonies and the associated banquets are nowadays major international events.
(from Nobel Prize Wiki Site, wikipedia.org)