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You may be asked to prepare a literature review as an assignment, but more likely you are going to be expected to include a literature review as part of the introduction to your research paper. Properly done, a literature review is more than an annotated bibliography or summary of research articles. Your literature review should inform your readers of significant past research in your specialized topic, but also highlight critical issues, areas where research is lacking, or novel applications that your research is going to explore.
For some helpful tips on how to get started doing a literature review, see the University of Toronto Library's The Literature Review: A Few Tips on Conducting it.