The Formal Grading System for undergraduates Psychology 531:

There are three evaluated components in the grade:
Quizzes: Did you read the book?
“The project”: Can you construct a psychological measurement instrument, and report thereon?
The final: Required by UNC.

The three will be combined into a final grade, by converting the corresponding letter grades into their 4-point numerical equivalents (A=4, B=3, C=2, D=1, and F=0) and computing the arithmetic average. Recoversion to letter grades is as follows:
A: Average > 3.5; e.g., AAA = (4+4+4)/3 = 4->A; AAB = (4+4+3)/3 = 3.67->A
B: Average > 2.5; e.g., BBB = (3+3+3)/3 = 3->B; ABB = (4+3+3)/3 = 3.33->B
C: Average > 1.5; e.g., CCC = (2+2+2)/3 = 2->C; BCC = (3+2+2)/3 = 2.33->C
D: Average > 0.5; e.g., DDD = (1+1+1)/3 = 1->D; DCD = (1+2+1)/3 = 1.33->D
F: worse

Turning quizzes into letter grades:
A: average number-wrong less than 1.5/quiz
B: average number-wrong less than 3/quiz
C: average number-wrong less than 4.5/quiz
D: worse

Turning the project into letter grades:
This will be set forth with the project specifications, in March.

Turning the final into letter grades:
A: greater than 90% of maximum-raw-score-obtained
B: greater than 80% of maximum-raw-score-obtained
C: greater than 70% of maximum-raw-score-obtained
D: greater than 60% of maximum-raw-score-obtained
F: worse

(In addition to the usual number-correct score on the final, there will be “extra credit” points based on the performance of the items that you will write for the final.)