- Create a Marketing Plan
- Create a Franchise Proposal
- Risk Analysis and Prevention
- Crisis Management
- Create a Sustainability Proposal
For most students, the capstone project is the most exciting part of the economics degree program. It marks the transition from school to career, and serves as the first opportunity to apply your new knowledge and make a real-world commitment to the world of economics. Before most students arrive at the excitement, they feel nervous and stuck at trying to come up with a capstone idea that speaks to both their interests and the qualities that their professors and future employers are looking for. Here are five capstone topic suggestions for a Master’s in Economics.
1. Create a Marketing Plan
The economic health of any business starts with a solid marketing plan that will draw new customers or clients, retain current ones, and generate not just interest, but revenue. Master’s of Economics students must demonstrate a solid understanding of the lifespan from marketing to fiscal year review. Creating a marketing plan for a business of your choice as your capstone project is a great way to demonstrate this holistic understanding of your field.
2. Create a Franchise Proposal
From fast food and coffee comfort to retail therapy, consumers enjoy a good franchise. This explains why franchise chains drive much of the United States economy. With the rise of online shopping and an appreciation for local mom and pop businesses, it is becoming more difficult for the franchise industry to maintain a place within the greater economy. If you have a franchise you are passionate about, or a great idea for one that doesn’t yet exist, creating an economically sound franchise proposal is a great capstone project idea for you.
3. Risk Analysis and Prevention
All big financial successes depended on big economic moves that always come with big risks. Master’s in Economics students must demonstrate an advanced ability to analyze risk and develop a plan to prevent it as much as possible. The capstone project is a great opportunity to demonstrate this. Choose a company you are passionate about or create the idea for one of your own, perform and present a full risk analysis as well as a corresponding plan to prevent them from occurring.
4. Crisis Management
No matter how solid a risk prevention plan, most business and organizations will suffer economic crises from time to time as a result of unforeseen and uncontrollable factors. Master’s in Economics students must be able to navigate them through such crises and back to financial health. This sets up the perfect opportunity for a capstone project. Choose a current economic crisis or invent one, and draft a plan for managing and overcoming that crisis. This recent article by Forbes outlines the differences between solid crisis management plans and ones that still have holes to fill.
5. Create a Sustainability Proposal
The best economists help companies and organizations adapt to changing times. In modern society, environmental sustainability is a huge issue for everyone, including economists. Implementing sustainability measures is an important financial investment and one that takes the expertise of a Master’s in Economics to execute properly. Another capstone project idea is, therefore, to choose a company or organization and create its sustainability proposal. The proposal should include a detailed account of the positive impact it will have on the organization’s financial health.
Related Resource: 10 Best Deals on Online Master’s in Economics
It is natural to be nervous as you prepare to embark on your Master’s in Economics capstone project. These five topics each offer a different focus and all are guaranteed to provide you with a solid foundation. Take a deep breath, think about the coursework you enjoyed the most, identify a business or organization you are passionate about, and you have the recipe for the perfect project.