This is the first complete version of the paper. You will be doing a lot more work on this, but the draft you turn in should be a finished product, with a title, title page, and bibliography. Many students tend to take the first draft lightly, which is a serious mistake. Most of the papers you have done up to now are short enough that you could almost get away with writing them all at once. This project is too big for that. To turn out something good you will have to divide the writing process into two steps, writing the first draft and refining it. The first draft is where you lay out everything you are going to. You then need to go through a process of re-thinking and revising the whole thing. This is very important because it is at this point that you can really re-think the whole thing. As you are working on the first draft you are focusing on the trees, now it is time to step back a little and look at the forest.
    Note that this does not mean that after the first draft is done you should not do any more research. In fact, one of the main points of re-thinking the paper is to help you see the places where you need to get some more evidence. Still, the first draft basically is your paper. You will be able to make some improvements, but the first draft is usually a pretty good indication of how the paper will come out.