In this thesis, we study Peskine and Szpiro's Grade Conjecture and its connection with asymptotic intersection multiplicity $\chi_\infty$. Given an $A$-module $M$ of finite projective dimension and a system of parameters $x_1, \ldots, x_r$ for $M$, we show, under certain assumptions on $M$, that $\chi_\infty(M, A/\underline{x}) > 0$. We also give a necessary and sufficient condition on $M$ for the existence of a system of parameters $\underline{x}$ with $\chi_\infty(M, A/\underline{x}) > 0$.We then prove that if the Grade Conjecture holds for a given module $M$, then there is a system of parameters $\underline{x}$ such that $\chi_\infty(M, A/\underline{x}) > 0$. We also prove the Grade Conjecture for complete equidimensional local rings in any characteristic.
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The Grade Conjecture and asymptotic intersection multiplicity