You have the freedom to choose any topic of your interest with condition that it must relate to the microeconomics concepts. You can equally choose any of the class textbook chapters as your research topic and develop an analytical and comprehensive explanation of the topic.

Whatever topic you choose the goal should be to check the facts through data analysis and develop your own ideas in microeconomics. In other words, choose a topic that increases your own store of knowledge. 

Once you choose the topic do the following:

• Explain clearly the purpose or goal of your project topic. Be sure that the topic is directly related to th course subject.
• What is your hypothesis? Hypothesis is a supposition or proposed explanation made on the basis of limited       evidence as a starting point for further investigation, or, A hypothesis is a specific statement of prediction. It describes in concrete (rather than theoretical) terms what you expect will happen in your study.
• What are the questions that you are trying to answer? Do not attempt to answer to broad aspect of your subject. Whatever topic you choose focus on one point and develop/analyze it.
• What you expect to achieve: what would be your expected conclusion?