A homological degree of a graded module M is an extension of the usual
notion of multiplicity tailored to provide a numerical signature for
the module even when M is not Cohen-Macaulay. We construct a degree, h
deg(M), that behaves well under hyperplane sections and the modding ou
t of elements of finite support. When carried out in a local algebra t
his degree gives a simulacrum of complexity a la Castelnuovo-Mumford's
regularity. Several applications for estimating reduction numbers of
ideals and predictions on the outcome of Noether normalizations are gi
ven.