Graduating with distinction in Econ will definitely get you noticed as an MBA applicant. However, you must weigh the added stress against the small advantage it may provide. If your work experience is strong, your GPA is in the cum laude range, and your GMAT score is competitive then you will be a strong applicant anyway. I wish I could give you a black or white answer but it really boils down to the price of the thesis on the rest of your life. Will writing it cause your work or your GPA to suffer? If so, then it's probably not worth it.
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