I guess he wants you to summarise the topic, bringing an expansive idea like 'the knowledge economy' down to half a page (and doing it well) requires that you understand the topic very well.
Perhaps imagine you are a 1970's civil servant trying to sell it to a manufacturering+coal mining obsessed labour prime minister in under half a page.
Telescopi, could I pm you details of what I have to do? Obviously not expecting you to do it, but just to get a grasp on the situation. Its worth 20% of my entire module :/
I wouldn't put any faith in my opinion, I've never been asked to do a concept note in academia. A few pitches in business which appear much the same, but I'm guessing in this context he's testing for understanding of the subject matter by summarising heavily (plus it's quicker to mark )
I'd recommend if it's important speak to your lecturer to clarify what is expected. I'm surprised he hasn't covered what he expects of you anyway as the title is fairly ambiguous - or did you perhaps miss that class?
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