In June of 1877, Joseph Warner Yardley graduated as Valedictorian and Spoon Man. He died in August 1877. In 1878, the members of the Class of 1877 established the Joseph Warner Yardley Prize in his memory. The Yardley Prize is awarded to the best thesis on political economy written by a member of the senior class in any undergraduate school at Penn. The Yardley Award is administered by the Center for Undergraduate Research and Fellowships, and awards are determined each April on a competitive basis. Seniors graduating in the Spring semester from any undergraduate school are eligible. Applicants must be in good standing in the University of Pennsylvania community. There will be one awardee annually.