This talk will begin with a brief introduction to, and overview of, the topic we have come to call "computational advertising", by which we mean the algorithmic techniques useful for the optimal placement, scheduling and context of on-line advertisements. Such advertisements encompass a large and growing fraction of the advertising industry, and, in the forms of display advertising, content match, and search marketing, bring in a large fraction of the income derived from the web. In addition to the overview, we give two examples of optimization models applied to problems in sponsored search and display advertising.