There's something that has occurred to me over the years: Drawing full-size on an 8x11 paper, then scanning them, then fitting them to a page via computer. Would that work?
You could do that if you want your comic to be of similar dimensions; but the comic page is generally a different aspect ratio.
Also, comic boards tend to be large because when you shrink your drawing it will look sharper and imperfections disappear.
I draw all of my comics digitally since I have to submit them to the printer digitally anyway, and it gives me incredible flexibility too, with erasing and color management, not to mention shading and highlights.
Not sure if you mean drawing at the final print size, but I did try that years ago. Tom is absolutely right, shrinking makes your art look better.
That said, I draw my strip on 8.5x11 card stock. I just break the strip across the pages. (two 1/4 panels or one 1/3 panel per page.) You do have to be careful how things end up looking when the panels are back together. Occasionally I'll find a box or something from one panel looks like it continues on the next, which looks confusing.
Right now I am using printer paper, a standard pencil, a good eraser and a ballpoint pen, all black and white.