How to open a web application - first timer. plz help

Question

Hi, Learning and using Microsoft Technologies (ASP.Net using C#) after 5 yrs of Java n C++ experience but struck at the opening point only!! I have to open a web project of C# - ASP.Net but at the begigning itself it says that as it is a web based project it has to be opened using a URL. I don't know where i should deploy the project before i can open it (able to guess that it shd be somewhere in inetpub inside wwwroot directory). Unable to make out how to proceed further. Can somebody help me out by telling what all settings are required (In IIS or inetpub or anywhere) so that i can view the project (i repeat it is ASP.Net project, using C#). Please advise. thks.