Multi-core processors have become the dominant processor architecture with 2, 4, and 8 cores on a chip being widely available and an increasing number of cores predicted for the future. In addition, the decreasing costs and increasing programmability of Graphic Processing Units (GPUs) have made these an accessible source of parallel processing power in general purpose computing. Among the many research challenges that this scenario has raised are the fundamental problems related to theoretical modeling of computation in these architectures. In this thesis we study several aspects of computation in modern parallel architectures, from modeling of computation in multi-cores and heterogeneous platforms, to multi-core cache management strategies...