Master's degrees are typically graded based on a combination of coursework and a final research project or thesis. The exact grading system varies depending on the university and the specific program, but some common methods include:

1. Letter Grading: The most common grading system for Master's degrees is the use of letter grades (e.g. A, B, C, D, or F). In this system, grades are assigned based on the student's performance in coursework, exams, and other assessments.
2. Percentage Grading: Some universities use a percentage grading system, where grades are based on the student's score as a percentage of the total marks available. For example, a grade of 85% would indicate that the student scored 85 out of 100 possible marks.
3. Pass/Fail: Some Master's programs use a pass/fail grading system, where students are either passed or failed based on their performance in coursework and assessments. This system is less common than letter or percentage grading.
4. Honors: Some Master's programs also offer honors designations, such as "with distinction" or "summa cum laude," to recognize exceptional academic performance. These honors are usually awarded based on a combination of the student's grades and other achievements, such as their thesis or research project.

It's important to note that the grading system for a Master's degree can vary greatly depending on the university and program, so it's important for students to consult the guidelines provided by their specific institution. Additionally, some programs may have specific requirements for grades in order to progress to the next stage of the program or to graduate.