Nobel economics prize awarded for real-life studies

This year's Nobel prize for economics has been shared by three recipients. David Card, Joshua Angrist and Guido Imbens were awarded the prize for their use of "natural experiments" to understand how economic policy and other events connect. Professor Card, of UC Berkeley, tells us about his work on the minimum wage. Also in the programme, with energy prices rising across the US and Europe, we ask David Shepherd, energy editor at the Financial Times to explain what's been happening. And the President of the Environmental Defense Fund, Fred Krupp talks us through methane emission cuts and the difference they can make to climate change . We're joined throughout the programme by Karen Lema, Reuters Bureau Chief for the Philippines and Andy Uhler, Marketplace reporter in Austin Texas. (Picture: The Nobel economics prize is announced. Picture credit: Reuters.)