I definitely agree with what ‘designer’ wrote about the passion, personal interests and picking something that you would like to pursue for your career.
One of my main goals was to maybe find something that shows my capabilities and at the same time rounds up my education. We pretty much never had any classes on interactive design, navigation and so forth, so I’m pretty happy I found a thesis where I not only have to deal with print and brand, but also with interactive design. At the same time it is a great thing if you can show that you can find a concept and build a complete project around it including research, analysis, synthesis, …
So, in short, it should show that you got a well-rounded education, and have solid skills in many areas. Tell me if I’m missing something. Due to the time restriction, you probable have to make a compromise in some points.
That’s the way I see it right now, and hopefully this spawns some discussion.
Go James