I have installed Composer and followed the Quick start guide in the Laravel 4 documentation.
I get the following error when I run composer
It says:
MCrypt PHP extension required
So it looks like you're missing the Mcrypt extension, which is required by Laravel (actually, I think it's used only by the Authentication class for password handling, not for the rest of the components of the framework).
I haven't got a Mac, but the command to install it should be something like this, using Homebrew
brew tap josegonzalez/php
brew install mcrypt php54-mcrypt
These links might help you: