What type of new Mac is it? If it a new Intel based one then Word 2001 will not work as it requires the old Classic operating system. Classic works well on PPC machines but not on Intel machines.
If you're a teacher/student then you can get good education pricing on MS Office products from www.micromail.ie.
I thought i'd escaped MS products when i shifted to Mac but found a trial of the MS office suite there.
Really didn't want to stump up more for that so explored a little and discovered the wonderful, completely free and compatible with MS file types NeoOffice, basically an OS X version of Openoffice.