Project Title:
"Understanding the Spending Habits of College Students: A Microeconomic
Perspective"
Duration:
2–3 Hours
Objective:
To study how college students allocate their limited income (pocket money, part-time
earnings) across different needs.
To understand the concept of consumer behavior, opportunity cost, and marginal
utility in a real-world context.
Project Description:
Students will conduct a quick survey among 10–15 fellow college students to gather data on:
Monthly income (allowance or earnings)
Spending categories: Food, Transport, Entertainment, Education, Savings, Others
Preferences and trade-offs (e.g., “If your pocket money was cut by 20%, what would
you reduce first?”)
They will analyze the data using basic statistics (averages, pie charts, bar graphs) and briefly
interpret the economic behavior shown.
Questionnaire Sample (Short & Simple):
1. Age:
2. Monthly allowance/income (in ₹):
3. Approximate monthly spending (fill amounts):
o Food: ___
o Transport: ___
o Entertainment: ___
o Education (books, courses, etc.): ___
o Savings: ___
o Others: ___
4. What category would you cut first if your income decreased?
5. Do you plan your budget in advance? (Yes/No)
6. Do you consider price differences before purchasing (e.g. brands vs. generic)?
(Yes/No)
Suggested Analysis:
Calculate average income and average spending per category.
Create pie chart of average spending distribution.
Identify common trends (e.g., most cut “entertainment” first).
Draw 2–3 economic insights (e.g., elastic vs inelastic spending behavior).
Expected Deliverables:
2–3 page project report including:
o Introduction (half page)
o Methodology (who was surveyed, how many)
o Data summary (tables/graphs)
o Observations & economic interpretation
o Conclusion
Attach the filled questionnaires as an appendix
Learning Outcomes:
Application of basic microeconomic concepts to real-life scenarios
Hands-on experience with data collection and analysis
Better understanding of student economic behavior and trade-offs
Alternative Topic (Optional):
"Analyzing Income and Happiness: Insights from Richard Easterlin’s Work"
Students read a short excerpt or summary of Easterlin’s Paradox, then conduct a mini
survey:
Does having more money make people happier?
Survey 10 people and compare perceived income level vs self-reported happiness.
Analyze and write a 2-page reflective report.
