I am just wondering what kinds of things are you expected to write about? If you're expected to write about your experiences teaching math in the past and what you would like to know about regarding teaching math, I can understand writing a paper. But I can understand a 2-3 page paper, not 7-10 pages!
Your course is designed to teach you methods to go about teaching math to students. I would not suggest having your students write a paper unless you're somehow supposed to incorporate language arts. There is so much for them to get through in the year, it may be a better idea to stick to problem solving and direct instruction when you get your own class.
As for your assignment, I suppose you never know what university courses will spring on you! How much is this paper worth towards the course?