Not money inflation, but grade inflation!
One of my university
teaching clients just came down with a bad dose of it. Normally, grade
inflation is a slow, insidious problem, stealthily devaluing your
hard-earned qualification. But at this client - a young ambitious operation
- the grade inflation was sudden and violent. One year, everything
was ticking along nicely. The next, students were complaining bitterly
when they didn't get 90% for very ordinary assignments. It turned
into quite a mess. The external examiner threatened to resign. It was
painful to unwind and cure.
The lesson? Grade inflation is just as damaging as financial inflation.
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