Use a concept(s) from class to analyze a situation you’ve encountered or something you’ve read about in the news, seen in a documentary etc. Your analysis should include a brief write up and graphs where appropriate. If you’re looking for inspiration there are numerous documentaries available with an economic bent ranging on a variety of topics from trade, energy, food etc. Find a topic you’re interested in and apply some economics to it. I know this is your first econ class I am not looking for PhD level work, discussing how you’ve noticed something about price controls (ceilings/floors) etc and talking about it in an educated the hw should be one or two simple pages.
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