For images managed in your site we highly recommend that you use an image editing tool to resize your image to the dimension preferred, and then attach the image to the record, possibly as a "non public display" (which really just means "don't include this size in the links on the main metadata details display").
If you must change the size for the essay/exhibit, enter the number of pixels for both height and width. Some browsers (e.g. Internet Explorer 7) are incapable of maintaining the aspect ratio if only one dimension is entered. Unfortunately this means you have to do the math yourself. If the user's browser can resize images (most of the current generation can) these are the dimensions that the image will be forced to display within. Note that you are at the mercy of the browser's ability to reasonably accurately render these.