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 global economy with many moving parts to it. That necessitates the handling of money, business, industry, and other related dynamics. And that’s precisely what you are studying in your 12th or undergraduate economics program.
There’s no better way to learn economics (or 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, 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. Pandemic and the Global Economy:
COVID-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 struggle to sustain themselves. The governments have 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 among the best college or class 12 economics project topics. You have plenty of scope for research with ample info available online.
What to Include?
Here’re a few economics project ideas you should include for an impressive project.
You can begin briefly introducing the Covid-19 pandemic and its impact on the global economy. Feel free to provide stats related to the contraction rates of global economies.
2. Economic Indicators:
In this section, you can discuss the key economic indicators affected by the pandemic, such as GDP, inflation, employment, interest rates, consumer price indexes, stock market indexes, and trade.
3. Government Policies:
Next, you can discuss measures taken by governments and central banks to reduce the pandemic’s economic impact. These include fiscal stimulus, monetary policy, and international cooperation.
4. Industry Impact:
Here, you need to elaborate on the worst-hit industries like tourism, aviation, and hospitality.
5. Regional Impact:
This section should be dedicated to the regional impact of the pandemic on economies. You are free to discuss how the pandemic affected emerging and developed economies differently.
6. Future Outlook:
At the start of the section, you can discuss the potential long-term effects of the pandemic on the global economy. Follow it with a detailed discussion on the potential and timeline for recovery.
Eventually, you can summarize your findings and suggest some strategies for recovery.
Tips: Since stats add authenticity to claims, ensure putting plenty of them wherever required.
When GOI announced NOTE-BANDI (demonetization) on 8th November 2016, the Rupees 500 and 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?
As one of the best economics project topics, there’s a lot to include in the project.
The first section should introduce demonization to your readers. You can provide the background and context of demonetization before discussing why it was implemented in India.
2. Impact on the Economy:
Now, it’s time to discuss the economic impacts of demonization in the short term and long term. You can include changes in GDP, inflation rates, employment, and other important economic indicators.
3. Impact on Industries:
Herein, you should evaluate how demonization impacted various sectors like agriculture, services, and manufacturing. You can also consider discussing the impact on SMEs and informal sectors.
4. Impact on People:
Discussing the impact on individual citizens is important to add a human touch. You should focus on how it prevented people from accessing cash and other hardships they faced in their daily lives.
5. Pros and Cons:
This is the defining section of your project where you evaluate demonetization’s successes and failures. Discuss whether it lived up to its stated goals of reducing corruption & black money.
6. Lessons Learned:
Demonetization taught us many things, such as the role of the banking sector, the importance of alternative payment systems, the need for effective communication, and more. You need to discuss them all. Also, suggest what could have been done differently to make the policy more effective.
In this section, you must present your findings and make policy recommendations for future demonetization policies or other policies addressing corruption, black money, and terror funding.
Tips: Don’t forget to mention all the strikes, stock market crashes, deaths due to cash shortages, reduction in human trafficking and money laundering, and lastly, increased tax net. Ensure to include pictures of old and new currency notes for a stronger impression.
One Nation, One Tax, and One Market! It served as the baseline for Goods and Services Tax (GST) when enacted 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.
You can choose this topic for your next economics project in class 12, 11, or college with proper research. 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 before GST
- GST and price reductions
Tips: Research the latest amendments and guidelines laid down by the GST Council. Also, it’s important to mention how GST helped or hindered India’s economic growth through stats and charts.
4. Digital India
The 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
- Digital India Vision
- Nine Pillars of Digital India
- Digital India Challenges
- Digital India’s impact
Tips: Start from the bottom, i.e., the meaning of Digital India, why, and how it got into motion.
Wondering what is globalization? 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 another.
While globalization has shaped the modern-day world, it has its share of trade-offs. That makes globalization one of the simple yet exciting economics project topics for degree students and economics class 12 project. You can consider it if you don’t want to put in much time and effort.
What to include?
- Globalization Characteristics
- Positive Effects and Implications
- A Brief History of Globalization
- Future of Globalization
Tips: Take a holistic approach while discussing the effects and implications. It is advisable to include how globalization impacts people, economies, countries, technologies, and more to get a bigger picture.
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 revenue enhancement reforms, 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 (SoL)
“Standard of Living” is the measure of the material wealth and sources of comfort an individual or group in given geography possesses. Typically, SoL is determined on a variety of criteria, such as income, occupation, education, healthcare, nutrition, environment, and other material situations.
Do not mistake Sol for Quality of Life (QoL), as they are two different things, although used interchangeably. While SoL is all about material aspects of life, QoL takes into account intangible aspects like life satisfaction, self-reported happiness, subjective well-being, and cultural factors.
What to Include?
Typically, you can use the following in your Economics Project Topics on Standard of Living:
You can start by defining the Standard of Living and why it is an important measure.
In this section, you should discuss the different parameters for accessing SoL, such as healthcare, education, employment, income, housing, nutrition, and transportation.
You can dedicate a full section to discuss statistics that support your analysis of the SoL. The stats may be related to the percentage of people living below the poverty line, unemployment rates, public housing rates, literacy rates, average incomes, or access to healthcare or nutrition.
Comparing countries based on SoL can help you demonstrate the existing disparities. You can compare the SoL in a developed country, say the US with that in a developing country like Sri Lanka.
It’s vital to analyze the SoL trends over a given period to identify changes in the life of people. It will help you build your argument while also allowing your audience to understand the concept.
You are better off discussing the implications of a high or low Standard of Living. This could include the impact on economic growth, social welfare, and government policies.
Finally, you should summarize your findings and draw a logical conclusion on the Standard of Living. Also, you have to suggest ways to improve the SoL. This will add substance to the project.
Tips: You must take a mixed group of individuals for your project and include a selected group’s objectives and income level. 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, namely Railway Budget and General Budget. However, since 2017, it has been merged into the General Budget, which is presented once a year. It is relevant, dynamic, and has a lot of scope for research, which makes it a good economics topic for a college project.
What to Include?
You can consider this evergreen project topic and make specific highlights like:
You should start by defining what the government budget is and its purpose and objectives.
2. Types of Budget:
In this section, you may explore the types of budgets like revenue budget, capital budget, and social sector budget. It will set the tone for as comprehensive economics project topics as these.
3. Revenue and Expenditure:
This part of the project should include a detailed explanation of how the government generates revenue. Also, don’t forget to include the government’s spending pattern in recent years.
A project on Union Budget is simply incomplete without mentioning taxation. You are free to take up direct taxes and indirect taxes in detail. Discussing their impact on the economy is also important.
5. Fiscal Deficit:
You can dedicate this section to explaining what fiscal deficit is, how to calculate it, and its impact.
6. Government Debt:
Governments borrow from the market to fund infrastructure and social projects. Since borrowing is a part of the union budget, it has to be a part of your project too. Herein, you can discuss the level of public debt on the Indian government and the impact of the same on the economy.
7. Fiscal Policy:
Every union budget brings forth a new fiscal policy. So, it makes sense to mention the current fiscal policy and whether it can keep the economy stable and growing during the business cycle.
8. Government Schemes:
A discussion of the various government schemes outlined in the budget should be there in your project. You must include how these schemes will impact the economy in the long term.
9. Infrastructure Spending:
You may discuss how much the government is willing to spend on infrastructure development.
10. Criticisms and Suggestions:
It’s time to put your thinking cap on to have a critical analysis of the current union budget. Time permitting, you can also suggest ways to improve the budget.
You can round off the project with a summary of the main points of the project.
Tips: You can also cover current issues like ‘Impact of COVID-19 on the Union Budget’, ‘Rise in Petrol Prices, Black Economy, etc. Also, discuss the challenges faced by the government in balancing its budget.
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 automatically gets solved. That’s why 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
- NREGA, etc.
10. Environmental Pollution
Our environment is vulnerable to pollutants. When the exposure to toxicity is prolonged, the environment degrades. Environmental pollution comes in all shapes and sizes, from air and sound to water and nuclear pollution. It’s the easiest and the most common class 11 economics and EVS projects for class 12.
What to include?
- Cost-Benefit Analysis of Pollution
- Environmental Laws
- Environmental Acts
- Purpose to Save the Environment
Tips: 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 essential 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 high stakes are high, you cannot ignore the design of the economics project cover page. So, here’re a few proven ideas to help you develop 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 small will reflect poorly on you and undermine your effort. The thumb rule is keeping it smaller than the project’s main body.
Tip 3: Format it right
An attractive cover page is one with the proper 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 more precise reading. Also, capitalize the first letter of each word in the title, except for the propositions and articles.
That was our list of top 10 economics project ideas. Hopefully, you will find and accomplish a suitable topic for your project 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 know it or not, economics shapes our world and choices.
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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