Equation Editor (in some form or other) has been included in every version
of Word back to at least Word 2.0, but it is never installed by default (in
a Typical install). To install it, go to Control Panel | Add/Remove
Programs, select Microsoft Office, and click the Change button. In the first
page, select "Add or Remove Features."
On the next page, expand "Office Tools." Select Equation Editor and set it
to "Run from My Computer." Click the Update button, and insert the Office CD
when prompted.
Before you do this, however, make sure that it's not already installed. Look
under Insert | Object and see whether you have Microsoft Equation 3.0
listed. If not, you'll need to install EE. After you've installed it, to
make it easier to insert equations, open Tools | Customize, find Equation
Editor in the Insert category on the Commands tab, and drag it to a toolbar.