The William F. Butler award, established in 1972, is presented annually to a distinguished business economist to honor leadership in the field of business economics. To date, 45 outstanding economists have received the William F. Butler Award.

The award was named after William F. Butler, who was one of the founders of both the National Association of Business Economists (NABE) and the NYABE. William F. Butter, was chief economist and a vice president of the Chase Manhattan since 1956 and the chairman of the New York State Council of Economic Advisers since 1951 until his death in 1972. Mr. Butler received his PhD in economics from the University of Virginia, where he also taught. In 1942 he became a War Production Board economist, moving to the McGraw‐Hill Publishing Company as senior economist in 1945. He was an economist for the, Rockefeller family office from 1951 to 1956 before joining Chase Manhattan. He was also one of Governor Rockefeller's original appointees when the NY state advisory council was formed in 1968. A past president of the National Association of Business Economists, Mr. Butler had served on advisory committees to the Controller General of the United States, the Controller of the Currency, the Census Bureau and the Office of Emergency Preparedness. Dr. Butler was noted for his analytical insight, organizing ability, penetrating wit and genial warmth.