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My thesis is concerned with several new noise-induced phenomena in excitable neural models, especially those with FitzHugh-Nagumo dynamics. In these effects the fluctuations intrinsically present in any complex neural network play a constructive role and improve functionality. I report the occurrence of Vibrational Resonance in excitable systems. Both in an excitable electronic circuit and in the FitzHugh-Nagumo model, I show that an optimal amplitude of high-frequency driving enhances the response of an excitable system to a low-frequency signal. Additionally, the influence of additive noise and the interplay between Stochastic and Vibrational Resonance is analyzed. Further, I study systems which combine both oscillatory and excitable properties, and hence intrinsically possess two internal frequencies. I show that in such a system the effect of Stochastic Resonance can be amplified by an additional high-frequency signal which is in resonance with the oscillatory frequency. This amplification needs much lower noise intensities than for conventional Stochastic Resonance in excitable systems. I study frequency selectivity in noise-induced subthreshold signal processing in a system with many noise-supported stochastic attractors. I show that the response of the coupled elements at different noise levels can be significantly enhanced or reduced by forcing some elements into resonance with these new frequencies which correspond to appropriate phase-relations. A noise-induced phase transition to excitability is reported in oscillatory media with FitzHugh-Nagumo dynamics. This transition takes place via noise-induced stabilization of a deterministically unstable fixed point of the local dynamics, while the overall phase-space structure of the system is maintained. The joint action of coupling and noise leads to a different type of phase transition and results in a stabilization of the system. The resulting noise-induced regime is shown to display properties characteristic of excitable media, such as Stochastic Resonance and wave propagation. This effect thus allows the transmission of signals through an otherwise globally oscillating medium. In particular, these theoretical findings suggest a possible mechanism for suppressing undesirable global oscillations in neural networks (which are usually characteristic of abnormal medical conditions such as Parkinson′s disease or epilepsy), using the action of noise to restore excitability, which is the normal state of neuronal ensembles.