How was Lawrence Klein awarded the Noble Prize in Economics?

Name: Lawrence Klein.
Real Name: Lawrence Robert Klein.
Country: United States.
Date of Birth: September 14, 1920.
Died: October 20, 2013.
Education: Doctor of Philosophy (Ph.D.) from Massachusetts Institute of Technology, BA from University of California, Berkeley, Associative Arts (AA) from Los Angeles City College.
Subjects Of Study: Econometrics, economic model.
Popularly Known: The pioneers in building macroeconomic models.
Noble Prize Year: Nobel Prize for Peace in 1980, for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies.