The Graduate Award for Good Teaching in Economics, created last June by John Kenneth Galbraith, Warburg Professor of Economics Emeritus, has been revised to provide for ten annual $5000 awards, replacing the original stipend of five annual $10,000 awards.

Richard E. Caves, Stone Professor of International Trade, and Martin S. Feldstein '61, professor of Economics, were among those named yesterday by Karl E. Case, head tutor in Economics, as leading the field for award honors.

Members of the Galbraith Award Committee, the group elected by graduate students in Economics to pick the recipients, would not comment on the professors that were to be under consideration for this year's award.

Diligence in attention to graduate student instruction, proof of innovation, and usefulness in the economic subject which he teaches are criteria set forth by Galbraith, Allan Averback, chairman of the Galbraith award committee and a graduate student in Economics, said yesterday.

The award will be made to the full or associate professor in full residence with his primary appointment in economics. This year's award will be on or before May 1.