Friday, September 30, 2022

10 Best Economics Project Topics for College Students (With Pro Tips)

So, you require completing an economics project. Let Duniakagyan come to your rescue with a well-curated list of ideas for the economics project topics

Over the past few centuries, human civilization has grown exceedingly complex. Unlike the primitive bartering systems used in the past, we now deal with a monstrous global economy, with many moving parts to it. That necessitates the handling of money, business, and industry. And, that’s exactly what you are studying in your undergraduate economics program.

There’s no better way to learn economics (or for that matter any subject) than through projects. That’s why schools and colleges ask students to complete an economics project. Thankfully, it is a multi-disciplinary subject combining history, political science, and sociology. Plus, it’s dynamic, meaning it evolves with time. So, you have immense scope for project research on the subject.

If you too have a project at hand, read on – as we discuss the best economics topics for a college project. The economics project cover page design ideas and tips are just a bonus.

10 Best Economics Project Topics for College Students

1. Impact of the Pandemic on the Global Economy

Impact of the Pandemic on the Global EconomyCOVID-19 was harsh on us all. Every nation and every industry suffered. The worldwide lockdown brought the global economy to a grinding halt. With little to no international trade, the economies are struggling to sustain themselves. The governments are having a hard time dealing with the short-term and long-term implications of the economic disaster caused by the pandemic.

The “impact of the pandemic on the global economy” could be one of the best college or class 12 economics project topics. You have plenty to research with ample information readily available online. Here’re a few subtopics you should include for an impressive end product.

What to include?

  • Contraction rates of global economies
  • The worst-hit industries & sectors
  • Continent or Country-wise Impact
  • Global Inflation rates
  • Supply Chain Disruption
  • Strategies for recovery

Pro tip: Since stats add authenticity to claims, ensure putting plenty of them wherever required.

2. Demonetization

Demonetization

When GOI announced NOTE-BANDI (demonetization) on 8th November 2016, the Rupees 500 and Rupees 1000 denomination banknotes went obsolete. The idea was to curb corruption, narco-trade, circulation of counterfeit currency, and terror funding. It was a big step with implications still being felt. It’s a remarkable idea for both economics class 12 projects as well as college projects.

What to Include? 

  • Stated Objectives of demonetization
  • How demonetization impacted economy
  • How it promoted the cashless economy
  • Your take on it (whether it was a success or failure)

Pro tip: Don’t forget to mention all the strikes, stock market crashes, deaths due to cash shortage, reduction in human trafficking and money laundering, and lastly increased tax net. Make sure to include pictures of both old and new currency notes for a stronger impression.

3. GST

GSTOne Nation, One Tax, and One Market! It served as the baseline for Goods and Services Tax (GST) when it came into effect on 1st July 2017, just 8 months after demonetization. Think of GST as a destination-oriented tax applicable at multiple stages. With the implementation of GST, indirect taxes just vanished. Guess what? It’s too complicated for the common man to comprehend.

With proper research, you can choose this topic for your next economics project in class 12, class 11, or college. It’s an opportunity to deconstruct the complexity of this tax law for easy understanding. The knowledge, thus acquired, will come in handy if you plan to pursue chartered accountancy.

What to include?

  • The prime motive behind GST
  • Types of GST with explanations and implications
  • Inclusions and Exclusions
  • Recently Implemented Changes in GST
  • Tax laws prior to GST
  • GST and price reductions

Pro tip: Research the latest amendments and guidelines laid down by the GST Council. Also, it’s important to mention how GST helped or hindered the economic growth of India through stats and charts.

4. Digital India

Digital IndiaThe Digital India Movement is transforming India, digitally. And, the transformation is evident in the virtual field. People paying via cards and money transfer apps is commonplace now. Indians are accessing Government services electronically on PCs and gadgets, and India is on the cusp of emerging as a knowledge economy. It’s all thanks to this flagship program of GOI.

Why not base your next economics project for college on the Digital India initiative? The digital India project class 12 or college will help you understand how disruptive technology like the internet can change things for good. 

Here are the key factors to be included in your Digital India project for class 12:

  • Benefits of Digital India
  • Objectives
  • Digital India Vision
  • Nine pillars of Digital India
  • Digital India Challenges
  • Digital India’s impact

Pro Tip: Start from the bottom i.e. the meaning of Digital India, why, and how it got into motion.

5. Globalization

GlobalizationWondering what is globalization? Well, countries, industries, economies, cultures, and societies cannot grow in isolation. They require global interaction and integration, through international trade and partnerships. This interdependence is known as globalization. Herein, people, ideas, technologies, goods & services move freely across geographical borders to benefit one and all.

While globalization has shaped the modern-day world, it has its share of trade-offs as well. That makes globalization one of the simple yet interesting economics project topics for degree students as well as economics class 12 project. You can consider it if you are in no mood to put in much time and effort.

What to include?

  • Globalization Characteristics
  • Positive Effects and implications
  • A Brief History of Globalization
  • Future of Globalization

Pro Tip: While discussing the effects and implications, take a holistic approach. It is advisable to include how globalization impacts people, economies, countries, technologies, and more to get a bigger picture.

6. Tax Reforms

Tax ReformsTaxes have a direct impact on most of us. An economics project on tax reforms is always recommended. You will have a lot to discuss, such as what revenue enhancement reforms are, why there’s a need for reforms in India, and more. Later you will need to debate what effect the reforms will have on the economic climate. A few subtopics that need to be discussed include:

  • Fiscal policy of India
  • Fiscal system
  • Indirect and Direct taxes
  • Tax evasion
  • Tax rates
  • Subsidies, etc.

7. Standard of Living

Standard of LivingStandard of Living (SoL) is the ability to earn more, buy more, and consume more. In short, the pursuit of comfort and luxury leads us to strive to earn more and increase our buying power.

Pro tip: You need to take a mixed group of individuals for your project and include the objectives and level of income of a selected group. Also, factor in literacy rates, the economic status of that area, poverty, employment facilities, political controls, etc.

8. Government Budget

Government BudgetIn India, the Union Budget is presented by the Department of Economic Affairs of the Ministry of Finance. Earlier it was presented in two categories

  • Railway Budget
  • General Budget

Since 2017, it has been merged into the General Budget, presented once a year. This topic can be a good economics topic for a project. You can consider this evergreen project topic and make certain highlights like:

What to include? 

  • Budget presentation
  • Voting
  • Passing Bills
  • Hawala ceremony
  • Presented by whom (with some past info about the Ministers), etc.

Pro tip: You are free to cover some current issues like ‘Impact of COVID-19’, ‘Rise of Petrol Prices’, etc.

9. Poverty and Unemployment Alleviation Programmes

Poverty and Unemployment Alleviation ProgrammesPoverty and Employment are the two different faces of a coin. If we solve one of them, the other one automatically gets solved. That’s the reason the Government has introduced such plans which solve both the problems in the CBSE project guidelines for class 12 economics.

Here are a few programs which you can include in your project-

What to include? 

  • Jawahar Gram Samridhi Yojana
  • Swarnjayanti Gram Swarozgar Yojana
  • The Employment Assurance(EAS)
  • Pradhan Mantri Gramodaya Yojana
  • Annapurna Yojana
  • National Social Assistance Scheme
  • National Maternity Benefit Scheme
  • NOAPS
  • IRDP
  • NREGA, etc.

10. Environmental Pollution

Environmental PollutionOur environment is vulnerable to pollutants. When the exposure to toxicity is prolonged, the environment degrades. Environment pollution comes in all shapes and sizes, from air pollution and sound pollution to water pollution and nuclear pollution. It’s the easiest and the most common class 11 economics project and EVS project for class 12.

What to include?

  • Cost-Benefit Analysis of Pollution
  • Environmental Laws
  • Environmental Acts
  • Purpose to Save the Environment

Pro tip: You can add types of pollutants, causes of environmental pollution, and more. However, don’t elaborate much on these to avoid making the project too generic.

Economics Project Cover Page Design Ideas & Tips 

Now that your economics project is done, it’s time to design a cover page. Mind you, colleges often require you to present the project with a cover page, featuring all key information regarding the project. Plus, a well-designed cover page can attract attention and good grades even if it isn’t a compulsory part of the project. After all, it’s the first thing your professor will notice when presented with the project. When stakes are this high, you simply cannot ignore the economics project cover page design. So, here’re a few proven ideas to help you come up with an engaging cover page.

Tip 1: Provide the required info

The cover page is all about giving insights into the project. So, it should feature all key info, including:

  • Project Title
  • College Logo
  • Author Name
  • Professor Name
  • A brief introduction to the topic
  • Contact information
  • Credits and citations
  • Confidentiality statement

Tip 2: Keep it clear and precise

While it’s crucial to state the aim of the project and a description, avoid stuffing too much info on the cover page. Instead, keep it clear, precise, and creative. You are better off choosing appealing page clipart when designing in MS Word. It shouldn’t be flashy, ambiguous, untidy or unacademic.

Tip 3: Keep the dimensions right

The size of the cover page is an important consideration. Anything too big or too small will reflect badly on you and undermine your effort. The thumb rule is to keep it a bit smaller than the project’s main body.

Tip 3: Format it right 

An attractive cover page is one with the right formatting. Unless specified, you are better off with the Times New Roman font with the standard 12-point. Ensure the text is double-spaced for clearer reading. Also, capitalize the first letter of each word in the title, except for the propositions and articles.

Conclusion

That was our list of top 10 economics project ideas. Hopefully, you will find a suitable topic for your project and accomplish it quickly. When doing the project, you’ll develop a deeper understanding of the topic, which is, of course, the end goal of this activity. Whether we are aware of it or not, economics shapes the world we live in and the choices that we make.

However, to know what Economics is, we need to know what isn’t Economics. It doesn’t involve finances or how to make fortunes. Even though some economists in bow-ties might preempt the future of a particular economy, it’s never the prime concern of economics. Instead, the subject is all about people and the decisions they make.

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Rohit Kumar
Rohit Kumar
Passionate about content quality and attention to detail, Rohit has penned over 15,000 copies for some of the leading online and offline publications in their eight-year career. Currently heading the content team at Dunia Ka Gyan, he believes in team spirit, ingenuity, and collective growth.

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