We review recent work studying the dynamics in zinc oxide quantum wells (QWs) using ultrafast optical spectroscopy. These materials present exciting possibilities for optoelectronic device applications. In order to develop these applications, it is important to understand the mechanisms of the electronic processes occurring in ZnO/ZnMgO QWs. In this review, we discuss the excitonic lifetime and the impact of the internal electric field, the potential profile, phonons, and defects. We also discuss coherence dynamics and the observation of biexcitons at room temperature.The ZnO QW sample appears clear to visible light, but absorbs and radiates in the near UV on laser excitation.