조락교경제학상은 경제학 분야에서 연구 업적이 탁월한 국내외 경제학자의 연구력을 진작하고, 학문적 성과를 높임으로써 한국경제의 지속적인 성장을 뒷받침하고자 2007년에 제정됐다.
본 경제학상은 삼륭물산 조락교 회장 (경제 55)이 기탁한 10억원의 기금으로 조성되었으며, 연세대학교 창립 130주년과 연세대학교 상경대학 창립 100주년을 맞은 2015년 이후로 제도를 확대 개편해 상금을 1억원 규모로 증액하였고, 한국인 경제학자가 수상 대상이었던 이전과 달리 국적을 불문하고 뛰어난 연구업적을 남긴 세계적인 석학으로 확대했다.
현재 시상금은 용운장학재단에서 후원하고 있다.
The R.K. Cho Economics Prize is one of the most prestigious awards to economists, which is awarded by Yonsei University in Seoul, South Korea.
It has been awarded to scholars in the field of economics who have contributed to the development of scholarship and education. As of 2018, the prize includes a plaque, a medal, and a monetary award of 100 million KRW (approximately, 90K USD).
It was established in 2007 with an endowment from R. K. Cho, the president of Samryoong Co. and the chairman of Yongwoon Foundation as well as an alumnus of Yonsei University's Economics Department. Cho was motivated to create the prize after seeing the results of his prior humanities-focused donations to Yonsei University, and hoped the prize could help to connect students of his alma mater and famous South Korean economists overseas. Originally awarded only to South Korean citizens, in 2015 the prize was opened to foreign scholars as well.