Pretty sure the motor effect only applies to motors not generators.
But to build a generator you need:
Stator: permanent magnet or electromagnet. Electromagnet is better because you can switch it on or off.
Rotor: Armature and the coils wounded onto it.
Battery or power supply
Connecting wires
AC gen: Slip rings
DC gen: Split ring commutator
As for the design, it's same as a motor. A typical DC motor's design applies for DC generators:
http://gb.fotolibra.com/images/previews/49439-electric-motor-illustration.jpeg
As for the equipments, I presume your teacher will supply the equipments for you =)
As for the guide in how to build it... I presume your teacher will give you a manual =P
If not check this out:
http://www.ehow.com/how_4843047_build-dc-generator.html
Oh and there is a simple AC generator and much more sophisticated ones like the three phase generators. Because it's a high school assessment, just focus on the simple AC generator. Sorry I can't find a guide for building an ac generator =(
Remember: Generators generate EMF by induced torque. So perhaps you'll need some sort of handle on the rotor to rotate the rotor =P