First drafts of Ultima-like adventure code
Actually, I agree with Quentin. For a first effort, your code looks pretty good. You have a hero class called Erdrick and an Enemy class instantiated as a Slime. 

A class structure like what I show below would allow you more flexibility with less repetition. See what you think...

You might want to work out some way for specialized weapons to increase the damage a hero deals and for armor to reduce the damage suffered.

class Character():
    def __init__(self, name, health, damage, 
                 level=None, experience=None, equipment=None):
        self.name = name
        self.health = health
        self.damage = damage
        self.level = level or 1
        self.experience = experience or 0
        self.equipment = equipment or {}

    def strikes(self, other):
        other.health -= self.damage

    def alive(self):
        return 0 &lt; self.health

class Hero(Character):
    level_thresholds = {10: 2, 30: 3, 60: 4, 100: 5}
    def grows(self):
        self.experience += 1
        curlev = self.level
        for thresh in level_thresholds:
            if thresh &lt;= self.experience and self.level &lt; level_thresholds[thresh]:
                self.level = level_thresholds[thresh]

        if curlev &lt; self.level:
            print("{0} leveled up!".format(self.name))


class Monster(Character):
    ...

erdrick = Hero('Erdrick', 100, 2, equipment = {'Copper Sword': 3, 
                                               'Leather Tunic': 3})
slime = Monster('Slimebot', 50, 3)
while erdrick.alive() and slime.alive():
    erdrick.strikes(slime)
    slime.strikes(erdrick)

if erdrick.alive():
    print("{0} has defeated the {1}!".format(erdrick.name, slime.name))
    erdrick.grows()
else:
    print("The {0} has killed {1}... );".format(slime.name, erdrick.name)