The award this year in Economics was awarded to Gauri Nanda (a master's student at MIT) who:
"invented Clocky, an alarm clock that scurries around the room as it rings, forcing the person it awakens to get out of bed and chase it."Click here to see the rest of the awards for this year and past years. My personal favorite is an actual published paper entitled: "Pressures Produced When Penguins Pooh -- Calculations on Avian Defaecation." Talk about a bad laboratory job for some grad student...
Addendum: Here is the website for "Clocky." You can even buy a boring t-shirt.
(Source: Division of Labour)