Unfortunately, it is trivially easy to fake the address listed as the sender in an email.
Tracing the message back to the email account used to send it will be hard. But you can get a lot of useful information from what is known as the header in an email. The header will list what IP and domain the mail was sent from. This could possibly lead you back to the culprit.
How to view the header varies between email clients so its a bit hard to give specific instructions on how to do this. Furthermore you will need to examine the header on the original email since the header will be different on one forwarded to you.
So if you can get a student to show you the original email I suggest you Google the name of his/hers email client and "view header". E.g. "Outlook Express view header" this should provide you with the info needed to access it.
Here is some reading on headers.
http://www.stopspam.org/email/headers.htmlFurthermore I'd be happy to to take a look at the header for you if you wish. Contact me via PM to arrange this.
Unfortunately blocking someone from faking your address isn't currently possible. But,
depending on where you live, impersonating you via email might be a crime. So if you suggest to your students that the matter will be turned over to the police, it might be enough to discourage anyone from doing it again.