Your memo will be two pages, double-spaced, and will discuss both what economic theory and the evidence says about the question. As much as possible, back up your arguments with data and evidence. You will have to do some research, and you will have to boil down a good deal of research into the very short memo you have to write. The policy memos will be graded on both the content and the quality of writing. Please do not hand in a memo until it is written well enough that you could imagine submitting it for your work in a real job.
References to source materials you cite should be listed on additional pages, and do not count toward the two-page limit. All sources should be cited, and claims about facts or research findings need to have source materials cited.
You should be looking for materials that describe actual data and real research. You should not be citing the opinions of others as the basis for the conclusions you draw.