Morphology
The study of morphemes. Deals with the form or structure of words. (book)Specifies the grammatical function of words (grammatical class, number, tense, aspect, etc.)
Morpheme
The minimal, meaningful units of language (book)The smallest meaningful units in a language (slides)
Free morphemes
Morphemes that can occur independantly and still carry meaning. (book)Most free morphenes are lexical morphemes (nouns, verbs, adjectives, adverbs).

These may also be called content words or open class words. There is another set of free morphemes which are grammatical morphemes and include articles, prepositions, and conjunctions. These are also called closed class words.

Bound Morphemes
A subclass of morphmese that are meaningless unless attached to a free morpheme. Inclused derivational and inflectonal morphemes.

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(book)The slides also include a subgroup of bound morphemes that are in the lexical category. The example given is “clude” as in exclude and include. (slides)