We introduce the concept of Fourier transforms of fractional order, the ordinary Fourier transform being a transform of order 1. The integral representation of this transform can be used to construct a table of fractional order Fourier transforms. A generalized operational calculus is developed, paralleling the familiar one for the ordinary transform. Its application provides a convenient technique for solving certain classes of ordinary and partial differential equations which arise in quantum mechanics from classical quadratic hamiltonians. The method of solution is first illustrated by its application to the free and to the forced quantum mechanical harmonic oscillator. The corresponding Green's functions are obtained in closed form. The new technique is then extended to three-dimensional problems and applied to the quantum mechanical description of the motion of electrons in a constant magnetic field. The stationary states, energy levels and the evolution of an initial wave packet are obtained by a systematic application of the rules of the generalized operational calculus. Finally, the method is applied to the second order partial differential equation with time-dependent coefficients describing the quantum mechanical dynamics of electrons in a time-varying magnetic field.