Well to respond to your question I'll give you examples of a cheap grow setup and a expensive grow setup, and then I'll tell you my grow setup which I think is in the middle.
Cheap:
Get 2-4 48" Flouroescent shop lights, each fixture should hold 2 48" flouro tubes. Make sure you get the fixtures that can use 40 watt bulbs. When buying flouro tubes you want a blue spectrum and a red spectrum. (when I used to grow with flouros I found Sylvania 40 watt Wide Spectrum Gro Lux tubes work the best for the blue spectrum)
I found it very difficult to find flouros with a decent red spectrum, but I still got good results with the Sylvania's mentioned above. Each fixture will then have 80 watts, and with flouro's a good guide line is to try and have 75 watts per square foot. This is where buying a cheap reflective material will help boost your light even if you dont have the desired wattage. You can use tin foil, the dull side facing the plants. As for ventilation a small desk fan will be fine to keep the air moving in the room because flouro's dont generate too much heat. Have a window leading outside open a couple inches to allow fresh air in, but keep the room a comfortable temperature. Feed with water whenever the top of the soil is dry to the touch. Get whatever ferts you can afford (keep in mind this is still the cheap method) use Miracle Gro as a LAST RESORT as you can find Dutchmaster One for under $15 Cdn (cheaper than miracle grow and specifically designed for marijuana plants) This grow would cost you less than $150, probably less than $100.
If I left out anything just ask.
The expensive way (If I had unlimited $$$ and space I would...)
Have a 25 sq. ft. area (5 ft by 5 ft) with a 1000 watt HPS w/ Dual Spec Bulb and a 1000 watt MH, I would use soil (I always prefer soil, not the best way just my preference). The grow area would be air tight (or damn near air tight, this is where is can get expensive )th flo-thru ventiliation with a fresh air supply and the return venting up and out a chimney. The interior of the grow space would be completely lined with mylar (probably the best reflective material there is, not too expensive) All plants would be in 5 gallon pots, with probably a dozen plants..I would still use the same ferts Im using now because Im yet to find or hear of anything better. (Dutchmaster One Vegatative and Flowering formulas and Jon's Yield Booster) Again if I missed anything just ask. I estimate this grow would cost upwards of $500.
My grow.. (not cheap but not overly expensive)
I have 2 125 watt Solux lights, one bulb with blue spectrum and one bulb with red spectrum. Solux lights are a considerable step above flouro's but are still self ballasted which means no worrying about burning your house down with a ballast. So in total I have 250 watts in about a 5 square foot area, so I get about 50 watts per square foot. The interior of my grow area (an old stand alone closet) is lined with black and white poly for insulation and then covered by mylar for maximum reflection. For ventilation I have my grow closet positioned near a window with a whole cut in the back of the closet facing the window with a small desk fan exhausting air out of the closet. The whole in the closet is large enough to allow the air to flow freely, while small enough to not let out too much light. I currently have 3 plants growing each is now 3 days old (about one inch tall) and developing the first pair of fan leaves. I mentioned the ferts I use above. Again, if I have left anything out dont hesitate to ask. This grow (my setup) cost me under $400 Cdn. With this setup I expect to harvest at least one ounce per plant, and 3 ounces decent marijuana will sell for around $500-$600 Cdn where I live, so after one grow (about 3-6 months) you are already making profit, if you intend to sell it. If you intend to keep it for personal use your basically saving that $500 or $600 that you would otherwise spend on marijuana that you know absolutly nothing about! Any way you look at it, its just more money in your pocket once you get a setup that you know works.
And after having said all that, I will also say that learn and read up as much about growing marijuana as you can, get as many different opinions from as many different people as you can. There is no simple great way to grow mj so my advice is learn as much as you can and dont get discouraged if you make mistakes because with growing marijuana, the best way to learn is from your mistakes!