The Book project is also unique to each instructor and how they want to approach this project. Some Instructors want students to redesign a book jacket which already exists, making sure the students are familiar with the book and it's storyline. Other Instructors might give a more conceptual book cover assignments which were based on students selecting a graphic designer and then designing a book jacket which demonstrates the students knowledge and research of that designer (in the manner of their work.)Either are acceptable and you might come up with even a better idea as your proceed.
It's also another great opportunity to talk to students about color, texture, grids, type and hierarchy, legibility, composition, etc. Discuss it in class with the entire group and you'll see everyone's concepts improve during the discussion for sure.
Some Instructors will have the students not only mount their book covers on boards but also print out their book cover and have them wrap it around a real book to see what it actually looks like. Many student will photograph both the 3D book wrap and put it in their portfolio to apply to the graphic design major in late spring.