We develop a viscoelastic version of the volume of fluid algorithm for tracking deformable interfaces. The code uses the piecewise linear interface calculation method to reconstruct the interface, the continuous surface force formulation to model interfacial tension forces and utilizes the semi-implicit Stokes solver (enabling computations at low Reynolds numbers). The algorithm is primarily designed to simulate the flow of superposed fluids and the drop in a flow problem in 2D shear flows of viscoelastic and/or Newtonian fluids. The code is validated against linear stability theory for the two-layer flow case and against experimental and other documented numerical investigations for the droplet-matrix case. / Ph. D.