I have a stack of midterms I’m procrastinating grading, but I’m not simply going to babble on about some minor nuisance in my own life, I’m going to expound on a modest, but promising intervention into the problem of grade inflation which, I believe, costs us millions of dollars every year.
Here’s the basic problem: schools serve a mix of roles, including signaling, human capital formation, and pure consumption. Unfortunately, universities face a problem of grade inflation. I have encountered many students who were very angry that I should even dare to suggest that a C is an acceptable grade. This, despite the fact that C has never been sold as anything but “average- simple, common, adequate but ordinary”.
And why is grade inflation a problem? It makes the signal of a college degree less meaningful. And the result is that students have to pile on ever more credentials…
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