lol, yeh pin pointing aspects to talk about for my personal statement have been ridiculous.
Anyhow, to me it sounds as though you you prefer the current affaires/political side of economics, so why not do something on oil? It's very relevant in the real world and could probably be looked at from many angles, you'd just need to make sure it didn't slip into a politics type piece of work, if that makes sense. To be honest I imagine there will be
tonnes of people doing their coursework about the economic downturn, and although oil would be popular, it probably won't be as popular as you think.
Have you tried looking at coursework.info for example essays? I've never been on there myself but it's meant to be good, and obviously it's connected to here so wont be dodgy. It may give you a bit more direction.
On the issue of oil, you could look into Russia and how their new planned pipelines may affect the world economy. It could be quite interesting given the current political climate, but... I dunno, these are feeble starting points.