@Eigenvector: Your description of what you need to do is reasonably concise. You have not described how you wish to implement those requirements. (That is of course what programming is) What language are you using? What tools do you have at your fingertips? In other words, what constraints must you operate within?
As an example you could fire up Access and have your project in about 20 minutes.
You could fire up Visual Studio (Professional Edition) and use the database tools to create an "object" based solution. It, depending upon the version you own could even create the database in a SQLEXPRESS edition SQL Server for you. You could then use the various wizards within Visual Studio to create a virtually code free solution to interact with the database you just created.
If you are restricted to tools which are not quite so friendly you can do it "old school". For example using MySQL you can manually create the database tables. You could then use the Express editions of .NET (pick your favorite language) and write the code to interface your program to the MySQL database. This of course would require the most coding on your part as you would likely have to construct SQL expressions to perform your updates. Of course this is probably the goal of your assignment - to actually learn how to code.