Balance of Payment is a record of a country's transactions with the rest of the world. It shows the receipts from trade, and consists of the current and financial accounts. Current account is a record of payment for trade of goods and services in addition to income flow, while financial account is a record of all transactions for financial investment. Primary data derives from various sources, including the Commerce Department's Bureau of Census, the Department of Treasury, the Federal Reserve Board and foreign statistical agencies. This is a good research paper topic because, according to Deutsche Bank Research, it is one of the most "confusing and least understood areas of the U.S. economy." Your research paper could sort out myths from facts.
Monetary policies are linked between the economies across the globe. When the U.S. government cuts interest rates, for example, other countries respond affirmatively. An economic recession which, according to The National Bureau of Economic Research started in the U.S. in December 2007, spread virally across the globe, almost bringing the entire global economy to its knees. Clearly, there are structural problems that make some economies more prone to contagion than others whenever there is a global economic crisis. For instance, while Western economies were grappling with the recession, China was barely bruised. The topic provides a range of angles for a research paper on globalization and its pros and cons.
If there is any philosophical issue that animates both Democrats and Republicans in America, it is the country's fiscal policy. Fiscal policy basically involves government changing the levels of taxation and spending, influencing Aggregate Demand (AD), and consequently the level of economic activity. This is one of the most debated topics in American politics in almost every election cycle in recent history. Currently, the U.S. government cannot balance its budget because it spends more money than it makes. The Congressional Budget Office projects that the budget deficits will average $600 billion annually from 2011 through 2020 if the current economic policies do not change. Explore the solutions to the problems.
The U.S. is the largest and most important economy in the world. The country's economy is driven by consumption. Monetary policy is the domain of the Federal Reserve, involving the use of interest rates and other monetary tools to influence the levels of consumer spending and aggregate demand while keeping inflation in check. A research paper might look at the various angles of the U.S. monetary policy. You could examine the adverse effects of insatiable consumption.