So, you require completing an economics project. Let Dunia Ka Gyan come to your rescue with a well-curated list of ideas for the economics project
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. That necessitates the handling and transfer of currency, often via physically intangible forms. But as abstract as this seems, economics affects us all, whether we realize it or not. But how? Let’s discuss.
However, to know what Economics is, we need to know what isn’t Economics. It doesn’t involve finances, how to make fortunes, or the stock market. The study doesn’t even involve some sophisticated men in bow-ties preempting the future of a particular economy. Though some economists might be doing that, it’s never the prime concern of economics. Instead, it is all about people and the decisions they make. Economics comes across as a multi-disciplinary subject that combines history, political science, and sociology.
There’s no better way to learn economics (or for that matter any subject) than projects. That’s why schools and colleges ask students to complete an economics project. If you too have a project at hand, read on. We discuss the best ideas for the economics project
10 Best Economics Project Topics for Students
1. Impact of the Pandemic on the Global Economy
COVID 19 was harsh on us all. Every nation and every industry suffered. The nationwide 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 an appropriate title for your economics project. You have plenty to research with ample information readily available online.
2. Demonetization
GOI announced “NOTE-BANDI” on 8th November 2016. The 500 and 1000 banknotes were made obsolete to curb corruption. It was a big step with implications still being felt. Demonetisation is a remarkable idea for the economics class 12 project. Here you’ll mention all the strikes, stock markets, reduction in human trafficking, deaths, and lastly the rise of digital transactions and cashless economy. Ensure including pictures of both old and new currency notes for a stronger impression.
3. GST
One 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, 8 months after demonetization. With proper research, you can choose this topic for your next economics project class 11 and 12. Research the latest amendments and guidelines laid down by the GST Council. Also, mention how GST helped or hindered the economic growth of India.
4. Digital India
The Digital India Movement is transforming India digitally. People paying via cards and money transfer apps is commonplace now. Why not base your next economics project for class 12 on Digital India? Start from the bottom i.e. the meaning of Digital India, why, and how it got into motion? Here are the key factors to be included in your project-
- Benefits of Digital India
- Objectives
- Digital India Vision
- Nine pillars of Digital India
- Digital, Challenges
- Digital India’s impact
5. Globalization
What is Globalization? Globalization has brought a couple of new revolutions, creating man-made marvels and distributing the power to trade from the local to the global level. Trade revolutionized in various forms, which include tangible goods, such as machinery to intangible goods like cryptocurrency. It is one of the simple yet interesting economics project topics.
6. Tax Reforms
Taxes 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 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. You’ll 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
In 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.
From 2017, it has been merged into the General Budget, presented once a year. You can consider this evergreen project topic and make certain highlights like-
- Budget presentation
- Voting
- Passing Bills
- Halwa ceremony
- Presented by whom (with some past info about the Minister), etc.
Plus, some current issues should be mentioned like Impact of covid-19, Rise of petrol prices, etc.
9. Poverty and Unemployment Alleviation Programmes
Poverty and Employment are the two different faces of a coin. If we solve one of them, the other one solves the other factor. That’s the reason the Government has introduced such plans which solves both the problems. Here are a few programs which you can include in your project-
- 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
Our 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.
Here you can add up types of pollutants, causes of environmental pollution, and more. Also, for the higher level, you can include:
- Cost-Benefit Analysis of Pollution,
- Environmental Laws,
- Environmental Acts
- Purpose to Save the Environment!
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 have a deeper understanding of the topic. Whether we are aware of it or not, economics shapes the world we live in and the choices that we make.
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