Assessment doc + Where we will begin next Tuesday

There is now a document entitled Proposed Method of Assessment.  It includes what we discussed in classed last Thursday about how students should be evaluated as well as a section on how this translates into letter grades.  Have a look at it at your earliest convenience.  Students are invited to add comments or make modifications to the document.  I will freeze it next Saturday and we'll go with what is there at the time.  

Last class we didn't get through the full Powerpoint for the Fourth Class Session.  We got through slide ten, which is the first on transaction costs.  We concluded class with the nature of transaction costs - the holdup problem.  After each party become locked in with the other, one wants to renegotiate terms in its favor.