NT104 is another course I teach. This is our course on introduction to exegesis. In it we focus on the method of exegesis, and we walk through the content of Ephesians in the process. We cover many different aspects of the method and then practice that in Ephesians with ample opportunity along the way to deal with important issues and problems in that book.
In my opinion this course is the most important one that I teach because it focuses on the basic, foundational method for understanding the Greek text that when properly applied over time yields the most consistent results. A central aspect of our Christian faith is reading and understanding the Bible, an ancient book far removed from us in history, language, and culture. A primary task then as believers is to understand this word from God so that we can live it out appropriately. Any effort we can spend in understanding it is effort well spent.
Unfortunately this class is only an "introduction." I wish I had many more weeks with my students to teach them everything they need to know! However, we must recognize that understanding the Bible is a life-long task. I am simply happy to be an introductory guide for my students in that process.
One more post on this issue to go!
Dr. Michael Burer is Assistant Professor of New Testament Studies at Dallas Theological Seminary. He is the assistant project director for the NET Bible and has contributed various studies to the bible.org site. His first book - A New Reader's Lexicon of the Greek New Testament, co-authored with Jeff Miller - was published Fall of 2008. 
Perhaps the best text to read carefully is one which we require for NT104: Bock and Fanning, Interpreting the New Testament Text. In NT104 we work on our method in Pauline material, so students usually need exposure to other authors and genres. INTT does just that. Take note carefully of the bibliographies at the end of each chapter. These will point you to other resources which will help you to get more of what you need to know.
In addition, try to begin reading as widely as possible in background literature to the NT, like Josephus, the OT, the OT Apocrypha, etc. The more exposure you get to this material the more you realize the need for understanding the culture of the NT as an important part of the exegetical method. Check out this post by Dr. Harris on his NET Bible blog for a recent example that has been in the news a lot which illustrates this need.
I'm happy to answer any other questions you have on this topic. This is pretty important stuff!
Dr. Burer,
I am an NT major and currently taking this class (NT 104) from Dr. Johnston in Houston. This is the class I've been waiting for. What books or materials would you recommend to introduce me to the rest of everything I need to know?
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