You need a wireless router designed for cable broadband or for use with a separate modem. Some routers have a built is DSL modem - you don't want that type. You want a router that has an Ethernet WAN port.
Connect the WAN port to your room's Ethernet connection. There is one trick that you need to check out first:
You need to make sure that the sub-net that is being used by your new router to connect to your computers is different from the sub-net that the school is using for the Ethernet connection it is providing to your room. This is normally a case of logging on to your new router through one of its PC LAN ports and changing the router's address to a different sub-net if there is a clash. If there is a clash of sub-nets, it can prevent the routing from working correctly - it may work but it is not guaranteed.
For example, if the gateway address provided by the school connection (without your new router) is 192.168.0.1, and your new router has its address as 192.168.0.254, you will have a clash as both the school network and your router will be on the 192.168.0 sub-net. In this example, changing the router to 192.168.1.254 will put it on a different sub-net.
I have used this sort of setup with a router similar to the TP-link TL-WR340G, which cost around $30.
Provided you pick a router that works on the same WiFi band as the Macbook, it should work just fine.