14.01  Principles of Microeconomics

To compute your final Score for the semester, proceed as follows:

  (1) From your first 9 problem sets, sum the 8 highest scores, assigning a score of 0 to any problem set that you failed to submit. Call the result H₁ , which will range from 0 to 800.

  (2) Add your scores on the regular and extra credit portions of problem set #10, again assigning a score of 0 if you failed to submit this problem set. Call the result H₂ , which will range from 0 to 120.

  (3) Let E₁ , E₂ and E₃ , respectively, denote your scores on exams #1, #2 and #3. Each will range from 0 to 100.

S = 0.025 H₁ + 0.050 H₂ + 0.200 E₁ + 0.250 E₂ + 0.300 E₃ ,

        rounding the result to 3 decimal places.

The cutoffs for letter grades were as follows:

            B:            86.800 > S > 71.125

            C:            71.125 > S > 63.325

            D:            63.325 > S > 58.000

            F:            58.000 > S

A histogram of the final letter grades appears in the next announcement.

Please take a moment to review your problem set grades for PSets 1 through PSet 9 on Stellar. In case you find a difference between the recorded grade and the actual grade on your problem set or a grade for one of your problem sets is not entered in Stellar, please drop off your pset in Plamen Nenov's mailbox on the third floor of E52 around the corner from the men's bathroom. In case you have not picked up a pset, you can pick it up from a box by room E52-204. The box contains envelopes with the PSet number and recitation/section written on them. Each envelope contains unclaimed psets.

A clarification on the Extra Credit problem 6 on PSet 10. The question "What payment scheme will achieve the agreed upon outcome?" in parts (c) and (d) asks you to find the minimum transfer that will achieve the agreed outcome under costless bargaining.