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Magnetic resonance imaging is an imaging technique used in radiology to form pictures of the anatomy and physiological processes in the body. In this thesis, the blood oxygen level dependence (BOLD) effect was explored for brain imaging. It captures the spontaneous dynamic fluctuations in oxy- and deoxy-hemoglobin in blood reflecting activity from different brain regions. Methods were developed and evaluated for quantifying the variations in BOLD images due to brain disorders such as epilepsy and brain tumors. The methods showed potential for future research with clinical utility for early diagnosis of epilepsy, extent of epileptic lesions and tumor grading.