so here is my dilemma. i understand that the ethernet shield allows the arduino device internet access and am able to successfully execute the webclient example that is built-in by plugging the ethernet cord into the wall and into the ethernet shield. however, i am in college so i don't have access to a router or LAN capabilities.
my question is:
how would i make the arduino act as a server and use my browser to access it??? i don't have a 192.168.... ip address.
You can connect the Arduino directly to the PC with a "crossover" cable, or buy a cheap second-hand Ethernet switch or hub* at a garage sale or off craigslist. Then you'd just need to manually configure the PC's Ethernet to have a 192.168.. address while it's connected to the Arduino.
If you're on a campus network, I think there's DHCP client code available for the Arduino. But that does add some complication you should try to avoid until you have a little experience with Ethernet.
The old hubs are especially cheap because they're slow, but you don't need speed for the Arduino connection. If you want to put the PC and Arduino on a network, spend the extra few bucks for a more-modern Ethernet switch, so it won't slow down the PC's internet connection.