Well you certainly need to get past the idea of a time release material that is in contact with blood! Encapsulating anything larger than a red blood cell will clog all of your capillary beds (lungs, kidneys, retina, etc...).
I know this because I've investigated this in animals.
"you sure we need to know the therapeutic dose, the absorption and the elimination rate to begin answering this question?"
Yes. The pharmokinetics of drug release must relate in a logical way to the pharmokinetics of the drug in the body.
Think of it this way... Assume that you are neglecting the diffusion effect of the drug through the solubilizing polymer (a MASSIVE assumption). At the instant the polymer encapsulant completely reveals the drug (to blood?) the body takes up the drug as a bolus (another MASSIVE assumption). This is, in effect, a time delay for administering the bolus. If many tiny time capsules with different thicknesses of polymer are employed, the drug is administered nearly continuously as each fraction of the total dose encapsulated in this time delay solubilizing polymer reveals its tiny load of drug. During all this time the drug is being metabolized and eliminated. If the rate at which the drug is being presented is less than the rate at which the drug is being degraded/eliminated, the drug will never achieve therapeutic levels.
Your lecturer is probably asking you to think about encapsulating several fractions of the drug in varying thicknesses designed to deliver a therapeutic dose, say, every 4 or 6 hours. The thickness of the polymer surrounding each fraction of the dose should be designed to deliver some dose at 4 and 6 hours. Most drugs are dosed at levels much higher than therapeutic levels so that the compound remains in the therapeutic range for a reasonable amount of time before it is eliminated or degraded in the body.
So, to accurately answer this question you need to know the therapeutic blood level and the rate at which the drug is eliminated. Tailor the release rate of the encapsulated micropills to deliver a therapeutic level of the drug over 12 hours.