How to watch cable tv on a 27" imac?

So i'm going off to college soon and i don't want to buy a new tv for my dorm since i already have an iMac 27". Firstly, i want to know if it's possible to watch cable television through my imac and use it as a display, as one would do with a tv. If it is, how would i go about doing this and what... show more So i'm going off to college soon and i don't want to buy a new tv for my dorm since i already have an iMac 27". Firstly, i want to know if it's possible to watch cable television through my imac and use it as a display, as one would do with a tv. If it is, how would i go about doing this and what additional things should i buy? I plan on using my ps3 as well, would i just do the same process? I am not tech savy, so a detailed description would be greatly appreciated.
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