Resolution can be determined by the number of pixels that can be displayed per line multiplied by the number of lines on the screen. The higher the pixels per line and the higher the lines per screen the better the display. A good resolution capability is 1280 x 1024, though it depends on personal preference as to which resolution you choose to run your monitor at. The smaller the dot pitch the higher the resolution capabilities. The more times you can refresh the smoother animations play and the less flicker is detected between the still images that change to create motion.
Refresh rate is measured in Hz, or times refreshed per second.
Again, you can choose your preferred rate of refresh, but you are limited by the capabilities of your monitor. A monitor that is capable of running a smooth refresh at 85Hz is a good buy. There are some manufacturers to explore and others to stay away from. Do some exploring at company web pages and see what is out there. I suggest looking at Sony for some ideas to start with.