The degree of a polynomial which also has negative exponents. In theory, we define the degree of a polynomial as the highest exponent it holds. 
However when there are negative and positive exponents are present in the function, I want to know the basis that we define the degree.  Is the order of a polynomial degree expression defined by the highest magnitude of available exponents?
For example in $x^{-4} + x^{3}$, is the degree $4$ or $3$?

For the sake of completeness, I would like to add that this generalization of polynomials is called a Laurent polynomial. This set is denoted $R[x,x^{-1}]$.
